Download as PPTX, PDF, TXT or read online from Scribd
Download as pptx, pdf, or txt
You are on page 1/ 8
CUSTOMER RELATIONSHIP
MANAGEMENT (CRM) IN PRIVATE SECTOR BANKS:
Supervised by Submitted by Prof. Aruna Kumar Mishra Ankit yadav
CONCEPT OF CUSTOMER RELATIONSHIP MANAGEMENT
Customer Relationship Management is a process
used to learn more about customers' needs and behaviors in order to develop stronger relationships with them. The more useful way to think about customer relationship management is as a process that will help bring together lots of pieces of information about customers, sales, marketing effectiveness, responsiveness and market trends. Customer relationship management helps businesses use technology and human resources to gain insight into the behavior of customers and the value of those customers.
BENEFITS Customer relationship management results in the following benefits: Provide better customer service Increase customer revenues Discover new customers Help sales staff close deals faster Make call centers more efficient Simplify marketing and sales processes
AXIS BANK
Axis Bank Limited, formerly UTI Bank, is a financial
services firm that had started operations in 1994, after the Government of India allowed new private banks to be established. The Bank was promoted jointly by the Administrator of the Specified Undertaking of the Unit Trust of India (UTI-I), Life Insurance Corporation of India (LIC), General Insurance Corporation Ltd., National Insurance Company Ltd., The New India Assurance Company, The Oriental Insurance Corporation and United India Insurance Company UTI-I holds a special position in the Indian capital markets and has promoted many leading financial institutions in the country. The bank changed its name to Axis Bank in April 2007 to avoid confusion with other unrelated entities with similar name.
LITERATURE REVIEW The approaches in marketing functions are constantly changing in tune with the changing challenges that are faced at the market fronts. The relationship marketing approach considers customers as insiders to the business and aims to build a long-term and never-ending relationship with them. The relationship marketing approach has gradually taken the shape of Customer Relationship Management. Kumar M. Selva, Ramar E.L Customer Relationship Management in Banking Sector: Customer satisfaction depends upon the quality of services provided by banks. It can be said that if banks are providing better quality services, then customers would be satisfied.
PROBLEM STATEMENT The entry of more and more foreign banks and new private sector banks, with lean footed structure, better technology, market orientation and cost effective measures, have intensified the competition in the Indian banking industry. Financial Institutions have also started entering into the domain of banks. In recent years, the share of business of public sector banks has declined considerably. So there is a compelling need for the Indian banking industry to modify its marketing strategy to attract the customers and to withstand the stiff competition from foreign banks and new private sector banks Thus it is imperative to find out the factors which are responsible for the success of Customer Relationship Management in banks.
OBJECTIVES OF THE STUDY
To analyze the customer relationship
management process in selected banks. To identify the role of customer relationship management in customer retention. To offer suitable suggestions to improve customer relationship management in banks To assess the present level of customer relationship management in banks.
REFERENCES Roy, S. K. (2008). CRM Implementation in Banks. ICFAI Journal Of Management Research, 7(7), 55-72 Kaur, N. (2013). Customer Relationship Management in Indian Banking Sector. BVIMR Management Edge, 6(1), 33-43. Agariya, A. K., & Singh, D. (2012). CRM SCALE DEVELOPMENT & VALIDATION IN INDIAN BANKING SECTOR. Journal Of Internet Banking & Commerce, 17(1), 1-21. Kavitha, K. S., & Palanivelu, P. (2012). Customer Satisfaction: CRM in Canara Bank. SCMS Journal Of Indian Management, 9(3), 99-108
