IMPACT OF CUSTOMER RELATIONSHIP MANAGEMENT ON CUSTOMER RETENTION WITH REFERENCE TO PRIVATE SECTOR BANKS IN SALEM DISTRICT

Mrs. G. KALAIARASI; Dr. C. MUGUNTHAN

Volume : IX, Issue : VI, June - 2019

IMPACT OF CUSTOMER RELATIONSHIP MANAGEMENT ON CUSTOMER RETENTION WITH REFERENCE TO PRIVATE SECTOR BANKS IN SALEM DISTRICT

Mrs. G. Kalaiarasi, Dr. C. Mugunthan

Abstract :

Banking scenario is ever changing with the introduction of new products, policies and strategies. The customers have been enjoying the competitive advantage through the customer relationship strategies implemented by the banks. New private sector banks have been found to be technologically advanced and they have been introducing varieties of newer strategies to retain the customers. In this context, it is deemed necessary to understand whether the strategies implemented by the banks could create an impact on the customers towards customer retention. The present study has selected three new private sector banks – ICICI Bank, AXIS Bank and HDFC Bank and the customers of these banks have been selected as the sample respondents. The data collected from them have been analyzed with appropriate statistical tools. The study has aimed to explore the awareness level, satisfaction level and impact of CRM strategies towards customer retention. The results showed that age, gender and educational level have significantly related to the awareness level while the satisfaction level of customers varied from one bank to another. The CRM strategies implemented by the select banks have been found to be effective in customer retention as indicated by the retention attitude scores of the sample respondents before and after implementation of CRM strategies