Customers' Perspective towards Customer Relationship Management with reference to Service Quality: A Study of Indian Public and Private Sector Banks

Abstract

The paper studies the bank customers' perspective regarding customer relationship management (CRM) practices with refence to service quality of the Public and Private sectors banks in India. In todays scenario, when markets have become highly competitive due to globalization and privatization, customer relationship management (CRM) is gaining importance for successful growth of the banking industry. The study holds importance as marketeers have to find ways to increase the number of new customers alongside the rention of old ones. In order to conduct the study stratified random sampling was adopted and a sample of 240 bank customers was interviewed. It was indicated in the study that the perspective of customers regarding CRM and service quality has significant difference in terms of the bank category, i.e. public and private Indian banks.Further, when results were compared on the basis of gender, the results reflected a difference in perspective of Customer Relationship Management (CRM) and service quality among customers of private sector banks but this was not so in case of public sector banks. The research gave insights not only for the benefits of Indian banks, but also paved a way for further research in the area of academics. It clearly indicate the importance of development of strong CRM and service quality measures so as to fulfill the requirement of both male and female customers. The study also aid banks in deciding the customer oriented strategies in order to create differentiation for the banks. Keywordsbank customers, customer relationship management, private banking, public sector banks,.