Measuring Performance towards Customer Relationship Management Practices in Indian Banking Sector: Study of Conceptual Theories and Focus on Developing CRM Model

Abstract

The intensive competition between retail banks in India and all the banks realized the needs for protecting existing customer base. Maintaining customer relation and build a loyalty has become a business strategy, and banks also realize that customer lifetime value identifies the value of a long-term relationship. This study mainly focused on types of CRM practices deployed in Indian banking sector and the changes needed with evaluation and cut throat competition. It helps to increase the ability to serves customer better and to improve the marketing productivity. It will also help to understand the effectiveness of CRM practices adopted by the various banks. With the theoretical and conceptual background of Customer Relation Management, the present study intends to focus on customers‟ perception towards performance on CRM practices by Indian commercial banks including Public, and Private Sector Banks. There are some research gaps exist in measuring the CRM effectiveness in past; and with special reference to its modern applications in banking organization in present. Many studies done on multiple aspects but dynamic aspects of CRM practices make it older. This research study aims to measure customer perception towards CRM practices apply by various Indian commercial banks, A broad comparison is also attempted between the CRM practices of India‟s top 3 Public Sector Banks and India‟s top 3 Private sector banks. So that here researcher tries to evaluate different models and relationship between different service parameters of CRM