Crm In Banking Sector

Chapter One
Customer Relationship Management

Evolution of Customer Relationship Management
The Indian desireing industry has its own history. Started with a private ownership natural process in the year 1947; after several years it got nationalized in 1969 with a view to promote the socio-economic development. With liberalization of Indian economy, mental process of the bank allowed private and foreign banks to improver their operation with internationalistic banking standards. Foreign banks in India started changing the rules of the game first. They tried to seduce nodes by good service and the flexible products. The year 2000, witnessed an increase in the number of private sector banks. Further, the advent of pecuniary presentations, added to the competition in the field. Today, the private Indian banks and existing nationalized Banks hit brought a fresh perspective to bear on the situation. They contribute already overshadowed foreign banks in terms of brand recognition. Thus, Bank marketing is an aggregate function, directed at providing service to punish customer’s financial needs and wants, more effectively and efficiently than the competitors keeping in view the original documentary of the bank (Shanker, 2002).



To create and keep a customer representation doing lot of things for him so that he would like to continue the business. Banking Institution cannot stay in business if it does not attract and strike enough customers, no matter how efficiently it operates (Levitt, 1974). Thus, satisfaction of the customer needs is a perquisite for existence and survival of banks. Drucker (1973) contended that the integral business is the final result of understanding the customers point of view.

In today’s increasingly competitive environment, customer kinship marketing is critical to corporate success. Delivering high quality go and achieving high customer satisfaction is closely linked with profit, cost, scrimping and market share (Sager, 1994).Therefore, to retain...If you want to get a wide essay, order it on our website: Orderessay



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