A STUDY ON CUSTOMER RELATIONSHIP MANAGEMENT (CRM) IN SELECTED COMMERCIAL BANKS IN TAMIL NADU
This aim of a business concern is to get profits. This concern works for a business having a long-term approach towards satisfying customer needs. Customer retention is the purpose of their business. The trend in marketing towards building relationships with customers continues to grow and marketers have become increasingly interested in retaining customers over the long run. Building a life-long relationship with the customers is the mantra for the development of any business. A strong relationship will create a bond between the business and its customers. The business concern should understand and satisfy the changing needs of customers. The customer has a special task in the organization, and a great interest in the efficient functioning of the organization. They are the important stakeholders in any business and they are the ends of the business. So the success of any business concern depends on building a life-long relationship with its customers. The Father of our Nation, Shri Mahatma Gandhi said, “A customer is the most important person in our business”. Relationship Marketing is also thrives based on valuing the customers. An organization needs to establish two types of values pertaining to each of its customers, namely, current value and potential value. The most effective way to value customers is to calculate their life-time value, that is , the amount they will be worth to the organization over the entire course of relationship with them. In other words, revenue will be lost if the customer is lost.
CRM is most useful for any business, concept, which concept. It can transform any business into a market leader. CRM is a hospital etc. it is a wonderful concept. It can transform any business into a market leader. CRM is a business concept, which cannot be achieved by technology alone. The right business practices along with the right CRM...
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