Vol. 2, Issue 3, Part M (2016)

Abstract
Customer is the most important person in any form of business. No business will exist without customers. Every business should try to give importance to the customers and try to build mutually beneficial relationships with the customers. This relationship will build only when organizations are able to retain their customers. The paper discusses the importance of customer retention in the present competitive business scenario. It focuses on the various retention strategies adopted by different organizations. The paper describes some of the retention strategies. Customer retention strategies have their own advantages and disadvantages. The paper discusses them at length and also deals with what might be done by companies in future for retaining their customers.