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VOL. 2, ISSUE 9 (2015)
An empirical study on implementation of CRM practice in private sector banks and customer satisfaction
Authors
Arpit Shailesh, Dr Taruna
Abstract
CRM, Customer Relationship Management, is neither a service nor a good, relatively it is a methodology to develop and manage the relations of the enterprise with its customers effectively and efficiently. An era has passed since the concept of CRM has been in existence. The banking sector has seen consistent enhancements in profitability & consumer satisfaction because of their large investments, despite the continued popularity & growth of CRM. Under the service sector, the banking sector has undergone dramatic changes which have led to an important development. Various trends that are emerging in the field of CRM have promised of decreasing cost and a brighter future of the customers. The priority of all banks is to need to retain the customers. It becomes very significant to know the practices of CRM adopted by banks and how they actually benefit the bank and the customers. Hence CRM is mainly a plan adopted by many enterprises as these enterprises follow “Customer is King, and they have the Power”. This becomes the statement of the problem & to identify the CRM practice is PSB’s. The service providers especially bank often lack behind understanding the Customer Relationship Management (CRM). Banks have their own method of maintaining relations with their customers. However, the vision of customers on CRM practices among service providers especially banks should also be considered. CRM activity attends the wants of the customers without wasting time. By creating and maintaining database banks can generate awareness among the customers about the schemes. Major Factors have been taken from various researches to analyse their significance for managing the questionnaire. The outcome of the questionnaire was that Private Banks seem to implement the practices of the CRM more efficiently. However, a micro analysis tells that in terms of assurance and reliability, Public Banks have scored the highest. The analysis of the results recommends that the banks (i.e., either Private or Public) are affected in the same manner by the kind of CRM practices undertaken by them.rn
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Pages:742-748
How to cite this article:
Arpit Shailesh, Dr Taruna "An empirical study on implementation of CRM practice in private sector banks and customer satisfaction". International Journal of Multidisciplinary Research and Development, Vol 2, Issue 9, 2015, Pages 742-748
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