A COMPARATIVE STUDY ON THE CUSTOMER PERCEPTION OF THE CRM INITIATIVES OF PUBLIC AND PRIVATE SECTOR BANKS IN THRISSUR DISTRICE, OF KERALA

Manoj.D.Puthukulangara, R. Moses Daniel

Abstract: Over the last few decades like many other industry technical evolution has highly affected the banking industry also. During the initial days of our independence RBI and the Government of India has initiated lot of steps to strengthen the banking sector of which the nationalisation of many banks were the top priority. The next phase after the independence was when India initiated the Liberalisation, Privatisation and Globalisation which enabled to have a new segment of banks being formed called the new generation private sector banks and corresponding changes in the banking sector. Ever since the banks have moved towards marketing orientation and the implementation of relationship banking principles. The banking sector has witnessed sea changes in the product features along with its marketing efforts. (CRM)- Customer Relationship Management a reasonably new concept got wide acceptance in the marketing of banking services. This study explores the role of CRM in the modern banking sector and its impact on the customer perception, further it is just a small step in understanding the adoption and use of CRM in banking sector and is just a small step in understanding the multidimensional construct of CRM. Further, after introduction of the core banking concept and other computerisation initiatives all across the banking spectrum; it tries to find out some comparative study on the key CRM parameters initiated by both the public and private sector banks. T-tests are used to check the relevance of CRM in both public and private sector banks. The paper concludes with the suggestions to adopt specific measures to enhance the CRM initiatives to drive the growth further

Keywords: CRM 1, Public and private sector banks 2, Cross selling 3, Customer referrals 4

DOI: https://doi.org/10.15623/ijret.2014.0319112