Journal of Applied Finance & Banking

An Empirical Exploration of Customer Relationship Management Practices in Banking Industry: A Study of Indian Private Sector Banks

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  • Abstract

    Customer relationship management CRM is a managerial philosophy that seeks to build long term relationships with customers, assisting in customer retention, and driving sales growth. The paper is review of customer relationship management practices prevalent in Indian banking industry. In this research, an attempt has been undertaken to measure the differences in the perception of customerís of selected banks on CRM practices namely empathy, responsiveness, reliability, and customer relations. The researchers employed 275 respondents of four private sector banks as the sample and collected data through questionnaires designed on a five point Likert scale. This paper used one way ANOVA as the statistical tool to measure the variation in the perception of bank customer towards CRM dimensions. The analysis of the data revealed that no significant variation exists in the perception of customers on CRM dimensions like empathy, responsiveness, reliability, and customer relations.