Principles for delivering distinctive services. Managing customer expectation and handling complaints Meaning, process of handling complaints. Customer loyalty Meaning. Customer Loyalty Programs Meaning and essential features. Meaning, features and importance of management. Management and Administration, levels of management, functional areas of management Materials, Production, Personnel, Purchase, Finance, Sales & Marketing (an overview) Modern approaches to product specific management Concept of Customer Relationship Management. Types of Goods Life Cycle of Goods Quality. Product enhancement through services. Pricing decisions Price v/s value Meaning, factors affecting retail pricing Promotion decisions.