CRM In The Banking Sector: A Case Study

999 Words4 Pages
Tamosiuniene and Jasillionene (2007)1 explained vision in terms of CRM as the creation of picture of what the customer- centric enterprise will look like to ensure that a competitive position can be created in the market place.
Evengelia and Michalis (2006)2 In his journal customer relationship management CRM is a strategy than can help them to build long lasting relationship with their customers and increase their profits through the right management system and the application of customer focused strategies CRM in the banking sector is of strategic importance.
Lindgreen et al (2006)3 have explained that CRM strategy consist of customer strategy, brand strategy and customer interaction strategy. CRM is a business approach that integrates people,
…show more content…
(2005)6 in his view Customer satisfaction increase the existing customer loyalty repurchase process, awareness of the people about the firm, decrease the price flexibility, the cost of gaining new customers and prevent the customer being affected from competitive enterprises.
P.Krishnaveni and D.Divya Praha (2005)7 in their study presented a comprehensive view of service quality and its linkages with customer relationship management.
Newell Fedrick (2004)8 states that CRM helps in understanding the buying behavior of customers for better products and services, spreading customer information across the enterprises to allow customer, facing employees to be more efficient and effective, and creating greater operational efficiency to reduce costs. Chen and Pop Vich (2003)9 states that CRM initiatives have resulted in increased competitiveness for many companies as witnessed by higher revenues and lower operational costs. CRM applications help organizations assess customer loyalty and profitability an measures such as repeat purchase, dollar spent, and longevity.
Bull, C.M. (2003)10 in his article CRM systems can be viewed as Strategic and operational information systems aimed at enabling organizations to realise a customer
…show more content…
In spite of meticulous planning and implementation, a large number of CRM programs fail to accomplish their goals. A deeper understanding of the behavioral dimensions of relationship marketing and careful evaluation can help organizations to make their relationship building efforts more effective. Service providers need to be customer oriented and trained in displaying genuine care and concern for customer welfare. A relationship based on mutual trust and faith lasts
Open Document