A study on customer relationship management in banking sector with special reference to public and private sector banks in tirunelveli district

Abstract

Customer Relationship Management is a vital factor to improve the newlineperformance of the banks. Most of the banks in India are now turning to Customer newlinerelationship Management as they are increasingly realising that the cost of acquiring newlinenew customers is for higher than the cost of retaining existing customers. The present newlineresearch work studies the different aspects of Customer Relationship Management newlineamong private and public sector banks, through an empirical survey of customer and newlineemployees of banks. The focus of the study is to examine the need of Customer newlineRelationship Management (CRM) for Indian Banking Industry especially in newlineTirunelveli district. Further the study also emphasis to understand the view points of newlinecustomers about their experience in context of the CRM implemented by their banks. newlineAs the population size is infinite, 999 respondents are selected as sample among the newlinepopulation using stratified random sampling. The sample has been stratified as 744 newlinefrom public sector bank customers and 255 from private sector bank customers in newlineTirunelveli district. The data required for this study had been obtained from primary newlineand secondary sources. Financial position and customer inquiry or response are the newlineimportant perception about customer relationship management in customer newlineacquisition among customers of public sector banks. The important perceptions about newlinecustomer relationship management in customer acquisition among the customers of newlineprivate sector banks are financial position and customer inquiry or response.