A study on customer relationship management in banking sector with special reference to public and private sector banks in tirunelveli district
Customer Relationship Management is a vital factor to improve the performance of the banks. Most of the banks in India are now turning to Customer relationship Management as they are increasingly realizing that the cost of acquiring new customers is for higher than the cost of retaining existing customers. The focus of customer relationship management helped banks to understand the customers’ current needs what they have done in the past and what they plan to do in the future to meet their own goals. The present research work studies the different aspects of Customer Relationship Management among private and public sector banks, through an empirical survey of customer and employees of banks. The focus of the study is to examine the need of Customer Relationship Management (CRM) for Indian Banking Industry especially in Tirunelveli district and how far these banks are achieving success in creating and maintaining CRM. Further the study also emphasis to understand the view points of customers about their experience in context of the CRM implemented by their banks.Financial position and customer inquiry or response are the important perception about customer relationship management in customer acquisition among customers of public sector banks and the important perception about customer relationship management in customer acquisition among the customers of private sector banks are financial position and customer inquiry or response.
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