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Title: A comparative study of CRM strategies in Indian banking
Researcher: Chakrapani, Amit
Guide(s): Singh, Daleep
Keywords: Management
Upload Date: 1-Apr-2013
University: Maharshi Dayanand University
Completed Date: February, 2012
Abstract: There is intense competition among the public, Private and foreign Sector Banks and they all are taking steps to attract and retain the customers. New technologies, research facilities, globalization of services, the flood of new products and the concept of all the facilities under one roof to provide better customer service leading to customer delight. In the present scenario, brand loyalty is on decline. The customers are switching over frequently to avail the better facilities from other banks. Newer and superior products and services are being introduced continuously in the market. Thus, the banks have to upgrade their products, improve customer service and create bonds of trusts through proper care of customer needs and regular communications. With the help of CRM, strong customer loyalty and a good image for the organisation can be developed. In the intensely competitive banking industry, retention of existing customers is vital, which can be achieved through the process of CRM. With increased number of banks, products and services and practically nil switching costs, customers are easily switching banks whenever they find better services and products. Banks are finding it tough to get new customers, and more importantly, retain existing customers. According to a research by Reichheld and Sasser in the Harvard Business Review, 5 percent increase in customer retention can increase profitability by 35 percent in banking business, 50 percent in insurance and brokerage, and 125 percent in the consumer credit card market. Therefore, banks are now stressing on retaining customers and increasing market share.
Pagination: 160p.
Appears in Departments:Institute of Management Studies & Research

Files in This Item:
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01_title.pdfAttached File68.25 kBAdobe PDFView/Open
02_declaration.pdf68.13 kBAdobe PDFView/Open
03_acknowledgements.pdf71.56 kBAdobe PDFView/Open
04_preface.pdf72.18 kBAdobe PDFView/Open
05_abstract.pdf98.18 kBAdobe PDFView/Open
06_certificate.pdf43.98 kBAdobe PDFView/Open
07_contents.pdf103.4 kBAdobe PDFView/Open
08_summary.pdf122.38 kBAdobe PDFView/Open
09_chapter 1.pdf463.31 kBAdobe PDFView/Open
10_chapter 2.pdf199.72 kBAdobe PDFView/Open
11_chapter 3.pdf237.68 kBAdobe PDFView/Open
12_chapter 4.pdf998.74 kBAdobe PDFView/Open
13_bibliography.pdf147.21 kBAdobe PDFView/Open

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