Study of Customer Relationship Management in Indian Public Sector Banks | Original Article

ABSTRACT:

Relationship Building is a Focal point of sustainable Development of Banking industry. CRM is a is a Multidimensional Phenomenon in marketing of Banking service Industry, Which state that marketing as “an integrative activity involving functions across the organization, with emphasis on facilitating, building and maintaining relationship over time. that will lead to banking industry better economic condition and receive high quality service by its customers. The overall objective of Customer Relationship management is to build and facilitate long term life-time customer relationships. In today's highly competitive business environment companies are not capable to longer survive with a transactional attitude towards customers. They have to put their emphasis on marketing effort more rationally in terms of customer satisfaction, which is considered as one of the most important tool for satisfying and maintaining long term Relationship with customer . In the banking Industry a unique 'Relationship' exists between the customers and the bank. But because of various factor which effect banking business like increasing NPA, weak financial performance, ineffective marketing practice etc Most of the banks are still following the traditional ways of marketing and only few banks are try to making attempts to Implement CRM. All Indian Public Sector Banks have their own way of doing marketing practices and strategies for maintaining the sustainable relationship with customer . However the perception of customers on CRM practices among banks should also be taken into consideration. CRM activity identify the needs of customers and customize their services without delay in time, the banks can create more awareness to customers and can create a customer data base very significantly. The present study try to show the status and challenges faced by Indian public sector banks in their CRM Strategy.