Conceptualizing CRM with Special Reference to Banking
Published: 2013
Author(s) Name: Sarita Bhatnagar |
Author(s) Affiliation: Assistant Professor, National Institute of Bank Management, Pune, India
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Abstract
This paper aims to trace the conceptual
framework and evolution of CRM. It then elaborates on the
significance and applications of CRM concept in Banking. This is a descriptive
paper in which a detailed review of literature has been
carried out to develop understanding of the CRM concept
and its application in Banking. CRM is a very powerful strategy, with potential
to differentiate and capitalize on customer relationships for
business growth. The rate of success of CRM solutions is
low. Banking, today is poised to differentiate with CRM,
but a lot many impediments exist. A detailed action plan is
suggested to implement CRM in Banking.
Keywords: CRM, Customer Relationship Management, Relationship Marketing, Bank Marketing, Customer Service.
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