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Volume 1, Issue 2

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Volume 1, Issue 2

Relationship Enhancement through Customer Relationship Management in Banking Industry

Author(s)

R.C.S Rajpurohit and Swati Surana

Affiliations
  1. Department of Commerce and Management Studies, Jai Naryan Vyas University, Jodhpur, India
  2. Department of Management Studies, Jai Naryan Vyas University, Jodhpur, India
Abstract

The current business scenario is turbulent, economy is reconstructing, costumer’s perquisites and demands are reshaping, phase of mergers and consolidation is accentuating to achieve the strategic advantage over the competitors, replication of new products and services is swift, costumers are fluxing from one brand to other brand expeditiously for enhanced products and services, issuance of banking license to new players is creating panic in banking industry to retain the customers and generate value both for the customers and itself. Customer relationship management (CRM) is no more an option, choice or an alternative for the organisations directly engaging with the customers. Customers are vital for banking activities, with chameleon like characteristics of customers it hard to please them. CRM is not just technological incentives, but an overall philosophy to shape the organisations from product centric to customer centric. It helps in generating maximized customer lifecycle value. This paper attempt to study the customer satisfaction of saving account holders with reference to the CRM dimensions employed by public and private sector banks.

Keywords

CRM, Customer Satisfaction, Customer Lifecycle, Multiple Channels, e-Banking, Pricing and Interest Policies, Service Quality, Operational Efficiency, Accessibility, Public and Private Sector Banks.

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