Customer Satisfaction-CRM in Canara Bank

Project Report on Customer Satisfaction-Customer Relationship Management in Canara Bank

Case Study on CRM in Canara Bank

Dissertation on Customer Relationship Management in Banking Industry in India

Abstract

The business of banking can neither function without customers nor does just acquiring a certain number of customers do the business. It is a continuing process of transactions culminating in a long term banker-customer relationship. Banking institutions thrive more on keeping old customers happy rather than getting new customers. No banks can possibly meet all the needs of its customers given to the diversity of their wants. In such a situation the secret key factor of the bank's success is effective Customer Relationship Management. CRM is being increasingly used to identify, attract and retain most valuable customers that help business to sustain profitable growth, successful banking companies are achieving long term performance in customer relationship management by gaining deep insights about their customers which help them design product/ service offerings that match or exceed the customer expectations which in turn help in building customer trust and gain loyalty.

 A customer is the core component in the banking i n d u s t r y. T h e b u s i n e s s o f b a n k i n g c a n neither function without customers nor does just acquiring a certain number of customers do the business. It is a continuing process of transactions culminating in a long term banker–customer relationship. Banking institutions thrive more on keeping old customers happy rather than getting new customers, no banks can possibly meet all the needs of its customers given to the diversity of their wants. In such a situation the secret key factor of the bank’s success, is effective CRM. CRM is neither a product nor a service, but a business strategy designed to optimize profitability, revenue and customer satisfaction. CRM is a paradigm shift from ‘product centric’ and ‘mass marketing’ to customer centric way of business. It is an integrated business strategy that places the customer at the center of business consciousness. It is comprehensive strategy and process of acquiring, retaining, and partnering with customers to create superior   value for both the banker and the customers across the whole organization.

Customer Perception about CRM in Banks

Customers who contact any bank expect two things: a solution to their problems relating to the banking transactions and treatment as someone special. Speed and time taken to render service is taken care of with personal interaction with customers, courtesy and  competence in discharging their study, managing the expectation of customers, maintaining good attitude and customer liaison, and Long term relationship with customers.

Statement of the Problem

Banking has today become an extremely competitive business. Banks in the pell-mell rush for achieving efficiency and gaining technology are facing the danger of forgetting this fundamental premise. For the years, banks have been guilty of five interpersonal sins, that have caused tremendous irritation to customers, inability to crossell, long queues, poor service attitude lack of information and lack of humility that prevent them from maintaining good customer relationship. In the light of this development it seems pertinent to focus on the study of the quality of banking service, and the banker customer relationship.

Source:SCMS Journal of Indian Management; Jul-Sep2012, Vol. 9 Issue 3, p99-108

 

  If you want Dissertations, Thesis, Case Studies on Customer Relationship Management , Research Proposals, Term Papers, MBA Project Report on Customer Satisfaction, Research Projects, Assignments, Coursework, Essays, Articles, PowerPoint Presentations SWOT Analysis Report on Canara Bank , and Synopsis, than contact Mahasagar Publications, Mumbai, India by calling +91 9819650213 or +91 8081344446  or visit website www.projectspapers.com