Soft magnetic materials have low retentivity and low coercivity. These are those materials which have high initial permeability, low hysterisis loss and large magnetic induction. These materials can be easily magnetised and demagnetised. Therefore, these are known as soft magnetic materials.
Reference: This article is referred from my authored book “electrical engineering materials” having ISBN 978-81-272-5491-9. In case of any doubt, then comment it.