A STUDY IN THE REGION OF MUMBAI.
Somaiya Instiute of Management Studies and Research
Mumbai UNIVERSITY, Maharashtra
FOR THE Sem V Project of
Masters in Marketing Management
Yuvaraj K Pawar
UNDER THE GUIDANCE OF
Prof. Dr. Sunil Pillai
Somaiya Institute of Management studies and Research
Vidyavihar, Mumbai, Maharashtra
TABLE OF CONTENTS
|S.NO. |TOPIC |PAGE No. | |1 |Introduction |1 | |2 |Objective of the study |7 | |3 |Hypothesis |8 | |4 |Research Methodology |9 | |5 |Scope of study |13 | |6 |Utility of the study |14 | |7 |Limitation of the study |15 | |8 |Time Schedule |16 | |9 |Bibliography |17 |
“The purpose of a business is to create customers” said Peter Drucker.
Over a century ago, in a small town or village, before the advent of the super market and the mall, people went to the nearby general store to purchase goods. The owner and the staff of the shop recognized the customers by name and knew the customer’s needs and wants. The customer in turn, remained loyal to the store and made repeat purchases.
As the economy and population grew, the consumer became mobile and the super markets and departmental stores were established to achieve economies of scale through mass marketing.
Although prices were lower and goods were uniform in quality, the relationship between the customer and the merchant store became nameless and faceless. The personal relationship between the mall and the customer became a thing of the past. As a result customers became fickle and moved to the supplier who provided lower costs and more benefits.
The new millennium is in the midst of explosive change, witness rapidly changing market conditions, volatile equity markets, reconstructed value chains and new global competitors.
Customers themselves are changing. Loyalty has become the thing of the past. The concept of Customer Relationship Management has taken center stage in the business world for sustainable business advantage. Companies and businesses are realizing that long-term success requires a great customer relationship management strategy. Therefore a technology enabled CRM strategy, to meet customer-focused objectives, involves the vast majority of any organization activity.
Therefore, the last several years saw the rise of CRM as an important business approach. Its objective is to return to the world of personal marketing. The concept itself is relatively simple. Rather than market to a mass of people or firms, market to each customer individually. In this one to one approach, information about a customer ( eg. Previous purchases, needs and wants) is used to frame offers that are more likely to be accepted.
WHAT IS Doorstep Banking?
In a life full of hectic schedules and time constraints, the value of time is being increasingly felt. To save your precious time, many Banks (especially, Private) has...