MASTER OF BUSINESS ADMINISTRATION
A STUDY ON CUSTOMER RELATIONSHIP MANAGEMENT WITH REFERENCE TO M.S.A. MOTORS, KURNOOL
C. VENKATA NAGA SINDOOR Roll no: 11AT1E0052
Under the guidance of
K. NAGAIAH, MBA
INDEX| 1.| Introduction| |
2.| Objectives of the Study| |
3.| Need for the Study| |
4.| Scope of the Study| |
5.| Research * Source of data * Procedure of sample size| | 6.| Limitation of the Study| |
7.| Company details| |
Synopsis Approval Letter
This is to certify that Mr. C. Venkata Naga Sindoor, Reg. No 11AT1E0052 submitted the synopsis report entitled “A Study on Customer Relationship Management with reference to M.S.A. Motors, Kurnool in fulfillment for the award of Master of Business Administration to G. Pullaiah College of Engineering and Technology is a record of bonafide work carried out by him under my guidance and supervision.
Signature of the Guide Signature of the HOD
Relationship building with customers is now accepted as over-riding goal of marketing and of the business as a whole. In service industries, the goal is especially emphasized since a repeat customer is believed to cost merely a fraction of what needs to be spent in servicing a new customer is service transaction. It is believed that relationships flourish when marketers play the book, meet customers. core expectations and exceed in respect of other features of their total offering. Service firms have been the pioneers in adopting the practice of Customer Relationship Management practices.
Indian banking industry has witnessed rapid development in recent past with the initiation of financial sector reforms. The thrust of financial sector reforms was to improve efficiency, competitiveness and productivity of the financial system. The entry of new generation private sector banks which provided technology aided services like Internet banking, Mobile banking, Inter Branch network, etc., has electrified the banking environment in India and has added a new dimensions to automation in Indian banking.
Customer Relationship Management is a vital factor to improve the performance of the banks. Most of the banks in India are now turning to CRM as they are increasingly realizing that the cost of acquiring new customers is for higher than the cost of retaining existing customers. This quest has led to the implementation of CRM in banks. The concept of CRM is in the initial stage of implementation in banks, as getting the CRM philosophy work in a bank is quite complex as well as a challenging task for, its implementation is based on certain key principles, namely,
The banks must realize that all customers are not equal;
Customer profitability varies from person to person;
Not all customers are evenly desirable for the banks;
The banks must differentiate their customers based on the „Value Criteria;
Value is the profit that the customer adds to the bank account; and
A more profitable customer is a „High Value customer and a less profitable customer is a
„Low Value customer.
Changing perception of customer
The perception of a customer has drastically changed. Peter Drucker said twenty-five years ago, that the purpose of a business wads to attract and retain a customer. There has been a phenomenal change and paradigm shift towards customer focus during the past five decades...