ROLE OF CUSTOMER RELATIONSHIP MANAGEMENT PRACTICES AND INTEGRATED MARKETING COMMUNICATION IN CUSTOMER SATISFACTION – A STUDY WITH REFERENCE TO BANKING SECTOR IN INDIA A.Devi, Asst.Professor in Commerce, K.C.S.KasiNadar College of Arts & Science. Chennai – 21 E-mail: 32devi@gmail.com Abstract Indian Banking sectors are emerged with global standards creating more expectation from customers and it becomes very big challenge for banks to keep their customers satisfied. Factors influencing customer
In Current scenario, the banking sector across the globe and in India has recorded exceptional transformation which is being the trend undergoing. This wave is started in 1990 at global level and it is been started in India after 2000 which enables the risk as well as the high competition among the financial institutions especially banks. The foreign trade beyond borders and horizons are tending the traditional as well the modern banks to adopt and to Implement the latest technologies and trends
relationship management (CRM) is one of type of enterprise systems. This system gives numerous benefit to organization. Also, CRM strategy gives benefit base on the nature of business. Usually the sector that uses CRM strategies are the industry, non-profit organizations and government institutions in order to attract their customers. The benefits such as enabling organizations to decrease the costs, increase profits and give more trust of their customers. The good CRM strategy when it enables
relationship management (CRM) is one of type of enterprise systems. This system gives numerous benefit to organization. Also, CRM strategy gives benefit base on the nature of business. Usually the sector that uses CRM strategies are the industry, non-profit organizations and government institutions in order to attract their customers. The benefits such as enabling organizations to decrease the costs, increase profits and give more trust of their customers. The good CRM strategy when it enables
CRM is a process that helps in maximizing private banks’ medium to long term profits which is a result of customer knowledge, the perception of the customers, customized treatment of customers, and improved fulfillment of their needs. CRM is a hot topic in the banking sector. Banks have realized that CRM is the magic bullet that helps financial institutions to establish profitable and long-term relationships. CRM can also empower private banks achieve competitive advantage over public banks by delivering
definitions on the concept and further other terms have been frequently used either as substitutes for Customer Relationship Management (CRM), or to describe similar concepts. These include direct management, customer relationship management, micromanagement, one-to-one management, loyalty management and interactive management, to name but a few. Customer relationship management(CRM) is the process of managing detailed information about individual customers and carefully managing all the customers “touch points”
implemented the importance of Customer Relationship Management (CRM) and its potential to help them gain new customers, retain existing ones and boost their lifetime value and achieve their business goal. At this point, strong relationship with valuable customers requires solid commination between IT and marketing departments to provide a long-term confinement of their customers. To begin with, (Swift, 2000, p.p. 12-13)) elucidate CRM help us to predict customer behaviour through intense communication
part. Customer Relationship Management (CRM) is a holistic approach, which requires alignment of several aspects of a business. The concentrate of CRM helped banks to understand the customers current requirements, what they have done in the past and what they can do to meet their requirements in the future. The intelligent use of information about customer requirements will make long range two directions relationship with customers. Today, Banking sector face a lot challenges like global competition
the abstract of the document here. The abstract is typically a short summary of the contents of the document.] Caroline [Pick the date] Table of Contents No table of contents entries found. Introduction Customer relations in the banking sector The customer relations department deals with the daily interaction with customers and is a vital part in the profitability of the business. This department deals with the client’s first hand and it daily activities affect the business. The organisational
progress, banking and financial institutions have a huge role as they are institutions of money market which provides funds (through loan), helps government (by lending short term funds at low interest rates on the basis of treasury bills) and plays a role in monetary policies and financial motility along with primary banking services. They also contribute significantly to national output as well as to credit creation in an economy. Thus in developing countries like India where this sector also has