Crm Banking Sector
A study of customer perception of CRM initiatives in the Indian Banking Sector
Vanisha Oogarah-Hanuman Lecturer Faculty of Law and Management University of Mauritius Sharmila Pudaruth Lecturer Faculty of Law and Management University of Mauritius Vinod Kumar Research Scholar Department of Management Studies School of Management Pondicherry University Victor Anandkumar Reader Department of Management Studies School of Management Pondicherry University ABSTRACT Purpose: To investigate the front-end effectiveness of CRM strategies in the banking sector in India by studying the customer perception of CRM initiatives. Methodology: This is an empirical research which is descriptive in nature and relied mainly on primary data collected through a structured questionnaire to study the perception of Indian customers. Findings: Banks operating in India have failed to impress their customers on their CRM efforts. Various CRM initiates and dimensions measured in this study report unfavorable response. This under-performance has occurred in spite of technological developments and new processes in place Practical implications: The findings will have useful implications for Banks operating in India in order to think in line with the customers’ response. The study emphasizes the importance of retaining profitable customers for a lifetime and the growing importance of CRM in order to better satisfy customers in the Indian Banking Industry. Originality/value: Crucial aspects pertaining to CRM in the Indian banking sector had been under-researched and the aim of the present study is to have a broadened investigation of the CRM initiatives adopted by Indian banks. The study provides a discussion on the concept of CRM in the Indian banking sector and proposes recommendations to assist the banking sector on how to nurture profitable, long-term relationships with the customers
Volume:01, Number:04, August-2011 www.theinternationaljournal.org
Page 1
1. Introduction In today’s
Vanisha Oogarah-Hanuman Lecturer Faculty of Law and Management University of Mauritius Sharmila Pudaruth Lecturer Faculty of Law and Management University of Mauritius Vinod Kumar Research Scholar Department of Management Studies School of Management Pondicherry University Victor Anandkumar Reader Department of Management Studies School of Management Pondicherry University ABSTRACT Purpose: To investigate the front-end effectiveness of CRM strategies in the banking sector in India by studying the customer perception of CRM initiatives. Methodology: This is an empirical research which is descriptive in nature and relied mainly on primary data collected through a structured questionnaire to study the perception of Indian customers. Findings: Banks operating in India have failed to impress their customers on their CRM efforts. Various CRM initiates and dimensions measured in this study report unfavorable response. This under-performance has occurred in spite of technological developments and new processes in place Practical implications: The findings will have useful implications for Banks operating in India in order to think in line with the customers’ response. The study emphasizes the importance of retaining profitable customers for a lifetime and the growing importance of CRM in order to better satisfy customers in the Indian Banking Industry. Originality/value: Crucial aspects pertaining to CRM in the Indian banking sector had been under-researched and the aim of the present study is to have a broadened investigation of the CRM initiatives adopted by Indian banks. The study provides a discussion on the concept of CRM in the Indian banking sector and proposes recommendations to assist the banking sector on how to nurture profitable, long-term relationships with the customers
Volume:01, Number:04, August-2011 www.theinternationaljournal.org
Page 1
1. Introduction In today’s
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