CUSTOMER RELATIONSHIP MANAGEMENT: A STRATEGIC TOOL IN BANKING

Fatima Damana
2015 International Journal of Management Research   unpublished
Banking industry has gone through many changes from time to time. Globalization and rapid increase in competition has emphasized the banks to be more productive and profitable. Banks should strongly focus on relationship management with customers in order to retain them. The ultimate objective is to get customers loyalty for the bank. CRM is used as the most efficient tool to improve banking and make positive impact on its performance and satisfy customers more efficiently. CRM creates a feel
more » ... RM creates a feel of comfort for the customers in this high tech environment. Shani and Chalasani (1992) define relationship marketing as an integrated effort to identify, maintain, and build up network with individual customers and to continuously strengthen the network for the mutual benefit of both sides through interactive, individualized and value added contacts over a long period. The paper focuses on the role of customer relationship management in banking and its impact on the success of banks.
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