As we move into the 21st century, the need for rapid access to relevant knowledge has never been greater. The business world is becoming increasingly competitive. Even though there is an increasing demand for innovative products and services, enterprises face a daunting task to understand the customers and find ways to attract and retain them. The Internet and e-commerce have changed the way people interact with businesses. The recent developments in e-commerce and knowledge management are creating new organisational forms in the 21st century. These technologies have also increased the expectations of the customers. Traditional principles of customer relations do not always transfer well to the online world. This chapter discusses the use of knowledge management concepts to create an appropriate framework for managing Business-Consumer relationships for understanding and retaining customers.