Abstract:

Customer Relationship Management has emerged as a popular business strategy in today’s competitive environment. It is a discipline which enables the companies to identify and target their most profitable customers. CRM involves new and advance marketing strategies which not only retain the existing customers but also acquire new customers. It has been invented as a unique technique capable of remarkable changes in total output of companies. While the concept of relationship marketing was formally introduced in early 90s when financial services, airlines and other service institutions stated to ‘reward to retain’ the existing customers by introducing loyalty programs, CRM is only a product of the late nineties. The purpose of this paper is to find the differences in an organization’s services employing CRM vis a vis others, as perceived by the customer. It also tries to find out the relationship between perception and satisfaction, commitment and loyalty which underlines the significance of CRM in Indian banking sector.