Abstract
Banking industry in Pakistan has become highly competitive, bankers are putting enhanced efforts to acquire and retain customers by incorporating innovative customer relationship management (CRM) techniques. Due to rapid technology penetration, customers have rapid entrance and options to multiple financial products/services. Present study focuses on measuring customer satisfaction in the result of Bank’s CRM efforts. Research is based on the fact and evolve the theme of the study, that is to find the significant factors affect customer satisfaction, that is a center of customer relationship management (CRM) for controlling the excessive competition in Quetta banking industry. Two structured questionnaires are used based on quantitative view and hand out on a stratified sample. First questionnaire is having a data of 31 employees in the sampled banks to measure the CRM suitability while second one is having a data of 302 customers from the sampled banks to count the level of customer satisfaction. The findings show that the selected banks apply the CRM components and found that these are positively associated with customer satisfaction. Respecting the results of the bank survey, the level of CRM implementation and the relevance of its elements be unlikely from one to another bank. Findings confirm that in Quetta banking sector there is a tough competition going on as every bank (public, private) is trying its best to capture more and more customers. Banks have to bring change in their strategies to build and strengthen relationship with their customers because it is one of the major competitive advantages.
Highlights
In today’s dramatically changing environment, organizations are realizing the importance of understanding customers’ behaviors, needs and wants
The objective of the research study is to see the impact of customer relationship management (CRM) on customer satisfaction
Its proves that organizing CRM activities are the essential mean through which firms organize their actual business processes for employees and customers, and by improving these activities has a greater impact on customer satisfaction
Summary
In today’s dramatically changing environment, organizations are realizing the importance of understanding customers’ behaviors, needs and wants. Through the effective use of communication, technology and information organizations are offering customer’s bunch of products with competitive prices and services to cultivate their loyalty. Financial service sector is using assets based on customer’s span of knowledge, in order to retain existing customers who are the great source of profitability, and to attract the new customers. The basic premise upon which CRM rests is that enhancing the customer’s experiences and understanding customer needs is the key to customer retention, organization profitability and growth. Customer Satisfaction is based on the organization critical service attributes in pre, during and post service delivery. These attributes are encounter by customers and its end result on satisfaction on the level of services obtained. The objective of the research study is to see the impact of CRM on customer satisfaction
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