“CUSTOMER PREFERENCES AS A
MARKETING STRATEGY IN
INDIAN BANKING SECTOR
(A Study of ICICI Bank)”
DR. RAJAN KUMAR
Swami Swatantranand Memorial College, Dinanagar
SUDESH KUMAR
Principal, Swami Satyanand College of Management and Technology, Amritsar
ISHAN BAKSHI
Deptt of Hospitality, Swami Satyanand College of Management and
Technology, Amritsar
REVIEW OF LITERATURE
Gordon (1999): The marketing mix approach should
be replaced by the relationship marketing alternative
model where the focus is on customers, relationships
and interaction over time, rather than markets and
products.
Gefen (2002): Customer relationship activities are
not as standardized as other business activities, such
as accounting or procurement. Hence CRM
implementation calls for much more complex and
flexible approach.
jermestad and Romano (2003) Users of CRM may
include all levels of management, permanent and
temporary field customer service representatives and
customers themselves.
Shruthi and Devaraja (2012) The domain of CRM extends
into many areas of marketing and strategic decisions.
Its recent prominence is facilitated by the governance
of several other paradigms of marketing.
Mark Tadajewski (2009) Close organizational relations do
not necessarily increase the efficiency of the market.
NEED AND SIGNIFICANCE OF
STUDY
• To access and evaluate the role of CRM in the growth &
performance of Indian banking sector.
• To analyze the customer’s perception towards Customer
Relationship Management.
• To investigate the impact of information & communication
technology on banking sector of India.
• To deal with the role of CRM in banking sector and the need
for it to increase customer value by using some analytical
methods.
RESEARCH METHODOLOGY
• The study is based on secondary data related to
the customer relationship management in the
Indian banking sector.
• The secondary data is collected from Annual
Reports, Audit Reports of the companies, books,
journals, periodicals, abstracts, indexes,
directories, conference papers, internal record
of organizations, newspapers and magazines etc.
OBJECTIVES OF THE STUDY
• To evaluate the role of CRM in the growth &
performance of Indian banking sector.
• To investigate the impact of information &
communication technology on banking sector of
India.
• To critically analyze the marketing strategies in
building customer relation in banking sector.
CRM IN BANKING SECTOR
CONCLUSION
Extension of promotions to a larger customer population by having
sales people in the branches contacting progressively 15,000
customers.
Targeted campaigns through Internet and the call centre for customers
actively using one or both of these innovative channels for their
banking operations.
The same approach is now being extended to small and medium
businesses and to commercial customers.
The analytical and strategic CRM cycle is being completed by
developing an application analyzing customers' attrition and deploying
strategies to reduce it.
REFERENCES
Anderson, J.C.,hakansson,H.and Johanson,J.(1994) “Dyadic Business relationship
within a business network context” journal of marketing, Vol 58 No.4, pp.1-15.
Bansal H. and Smriti K.,July (2008) “Relationship Marketing-A Conceptual Analysis”
Indian Journal Of marketing.
Kotler Philip, ( 2003), Marketing Management, PHI, pp- 609-615.
Kotler, Philip, Armstrong, Gary, Saunders, John and Wong, Veronica. (1999).
"Principles of Marketing" 2nd ed. Prentice Hall Europe.
Luisa Ruppert, January (2013) , “Integration Of Social Media With CRM In Banking
And Financial Services”.
Rigby D.Reichheld F.Schefter P.2002 “Avoid the four Perils of CRM”.Harvard Business
Review.2:101-109.
THANKS
