Exploring Customer Perception and Behavior towards CRM Practices in Banking Sector: An Empirical Analysis

By Ravindra P. Saxena and Pradeep K. Khandelwal.

Published by The Social Sciences Collection

Format Price
Article: Print $US10.00
Article: Electronic $US5.00

Globalization and competition on the one hand has created unlimited opportunities in each sector including the banking sector; but on the other hand has added many new challenges and threats too. “Survival of the fittest” is the truth of today’s global market. To be more competitive, productive and profitable, today banks are changing their way of doing business; they are shifting from a transactional based marketing approach to a relationship based approach.
Customer relationship management (CRM) has emerged as a new paradigm of marketing. The recent rush of publications in the area may give rise to the impression that CRM can be applied in any context, yet there is little empirical evidence to support it. CRM is, probably, one of the least clearly defined business acronyms, as there is no single definition for it. It is probably easier to say what CRM is not. Unfortunately, in many cases CRM has become a misnomer. Many a times, the companies who practice it never look at whether it is really pleasing their customers or irritating them. Do their customers have some serious issues and concern for it, which needs to be addressed? In most of the cases, companies feel that all their CRM approaches are working fine and are making their customers happy, but in reality it might not be true.
The present study attempts to understand the customer perception and behavior towards CRM practices in banking sector in India-an emerging economy. It offers some insights and assistance to banking industry in planning their CRM strategies.

Keywords: Customer Relationship Management, Customer Loyalty, Relationship Retailing, Services Marketing

International Journal of Interdisciplinary Social Sciences, Volume 5, Issue 9, pp.375-392. Article: Print (Spiral Bound). Article: Electronic (PDF File; 684.760KB).

Dr. Ravindra P. Saxena

Assistant Professor of Strategic Marketing, Faculty of Business and Management, University of Wollongong, Dubai, U.A.E., United Arab Emirates

Dr. Ravindra P. Saxena is a faculty of Strategic Marketing at University of Wollongong in Dubai. He has a masters degree in Economics and a masters degree in Business Administration. He did his Ph. D. in Economics in the field of marketing of financial services. Dr. Saxena has his research interest in the area of Consumer Behavior, CRM, Green Marketing and Marketing Communications. He has presented his research work in a number of National and International conferences. He has a large number of publications in reputed journals and is on the editorial board of a few journals.

Dr. Pradeep K. Khandelwal

Institute of Management Technology, Ghaziabad, India

Dr. Pradeep K. Khandelwal is a successful entrepreneur and has a chemical industry in India. He holds a Masters Degree in Chemistry and a Masters degree in Business Administration with specialization in Marketing. He did his Ph.D. in the field of Green Marketing. Dr. Khandelwal has published a large number of papers in the field of chemical engineering and societal marketing. He is an adjunct faculty of Marketing Management in a few well reputed management schools in Delhi, India. Besides having his own chemical industry, he is highly passionate about management teaching and therefore he is always involved in writing research papers and presenting them in the seminars and conferences.

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