Downloads: 181 | Weekly Hits: ⮙13 | Monthly Hits: ⮙34
Research Paper | Management | Papua New Guinea | Volume 5 Issue 8, August 2016
Customer Relationship Management (CRM) - In Modern Banking
Sharmiladevi Parthiban, Sakthi Priya E.
In Todays scenario, companies quest for customers to please them in every respect and offer them the best deal. Customer is everything is the new realization of every profit making company because they are the revenue and profits. It is also significant to note that if customers bring in profits for the company, it becomes domineering for the company to provide excellent services otherwise they may switch to other companies. Among this some Indian banks and PSBs (private sector banks) were driven for a long period by the fulfillment of service objectives. This paper highlights from the perspective of profitability, Implementation process that adopted currently and benefited from it. It also focuses on how the banks are rendering services to attract and retain their customers, this can be analyzed on following Parameters such as Product, People, Service and Images. Some of the measures are also suggested to maintain CRM practices in banks. In the customer profit Paradigm it is very important to note how customers vary in greater degree in terms of their purchasing power and income. Some banks and financial institutions undertaken a thorough research and apply the results beneficially how CRM is accepted as the current Marketing Strategy and put into Practice properly. In todays growing competition, dynamic marketplaces, changing global marketing strategies CRM become extremely difficult for the organization to stay ahead of their competition. The life time value of the customers is turning towards implementing CRM in their organizations. To succeed, Banks should understand the needs of the customers and their perception is the basis of CRM. Banking sectors had failed to respond to changing market realities of CRM have historically been hurdle to the development of financial sector in many developing economies.
Keywords: Customer Relationship Management, Banking, Multi Domain Skill, Boundary Spanning Skill, Strategy, and Competence
Edition: Volume 5 Issue 8, August 2016
Pages: 97 - 100
How to Cite this Article?
Sharmiladevi Parthiban, Sakthi Priya E., "Customer Relationship Management (CRM) - In Modern Banking", International Journal of Science and Research (IJSR), https://www.ijsr.net/search_index_results_paperid.php?id=ART2016786, Volume 5 Issue 8, August 2016, 97 - 100
Enter Your Registered Email Address
Similar Articles with Keyword 'Customer Relationship Management'
The Use of Internet and the Emergence of Consumer "Co-Creator"
RegaiegEssafi Raida, BouslamaNji
Quality Service a Prerequisite for CRM: A Study of Indian Corporate Healthcare Environment
Role of Pre-Sales in Understanding Consumer Behaviour for SaaS Product
Polimati Naveen Prasad
A Study on CRM Practices in Apparel Retail Sector in Bangalore
Dr. A. Kumudha, Barkath Unissa.A
The Effect of Customer Relationship Management and Word of Mouth on Loyalty Intention of Ravel Agent Users in Mataram
Iin Faizah, Sulhaini, Baiq Handayani Rinuastuti
Similar Articles with Keyword 'Banking'
Credit Risk Assessment: The Structural Approach (MERTON Model) Applied to the Moroccan Banking Sector
The Impact of Organisational Change Management Theoretical Perspective in the Context of Zimbabwes Cash Crisis on Small to Medium Enterprises and their Consequent Adaptation Strategies
Enock Takudzwa Zenda, Austin Musundire, Obediah Mumanyi
Customer Adoption of Alternate Channels for Banking Service Requirements - A Case Study of Patna District
Effect of Amalgamation on Financial Performance: A Case Study of Canara Bank Ltd
A Study on Financial Performance of New Generation Private Sectors Commercial Banks in India
C. Kandasamy, C. Indirani
Similar Articles with Keyword 'Strategy'
Enterprises Environmental Cost Management under Stakeholders Game
Wenjing Lu, Weihong Zhang
Autocratic Leadership Style and Strategy Implementation in Non-Governmental Organizations in Uasin Gishu County, Kenya
Dr. Shitseswa E. Ayub
Research on the Buying Behavior and the Description of Cellphone Companys Customers
Role of Technical Training Institutes Management in Achievement of the Vision 2030s Social Pillar in Kenya: A Case of Nakuru County
Wandabu R. Gathungu, Kwasira Josphat
The Continues Improvement and Its Role in Achieving the Competitive Strategies
Dr. Hamed Omar Abdalla
Similar Articles with Keyword 'Competence'
Effect of Employee Rewards and Recognition on Job Performance in Kenya?s Public Sector, A Case Study of Nakuru Water and Sanitation Services Company Ltd
Muthoni M. Muchai, Mwangi Benson
Competence of Special Committee Members of Regional Peoples Representative Assembly
La Ode Sahili, Usman Rianse, Gunawan, Muhammad Nur Yamin
Insureds Perceived Service Quality Dimensions and Customers Satisfaction (The Case: Ethiopian Insurance Corporation Northern District)
Effective Performance Appraisal Systems in Competitive Schools
An Impact Evaluation of ICT Utilization in Zimbabwean Universities ODL Administrative and Delivery Processes: A Case Of 4 Harare Universities (2009 - 2011)
Dr Elisha Chamunorwa Kujeke, Dr Kennedy Andrew Thomas, Dr Leonorah Tendai Nyaruwata