AN EMPIRICAL STUDY ON CUSTOMER PERCEPTION TOWARDS CUSTOMER RELATIONSHIP MANAGEMENT PRACTICES (With specific reference to Public Sector Banks in Chennai city)

vidya muthusamy, Shanthi Ravikumar

Abstract


AN EMPIRICAL STUDY ON CUSTOMER PERCEPTION TOWARDS CUSTOMER RELATIONSHIP MANAGEMENT PRACTICES

(With specific reference to Public Sector Banks in Chennai city)

Dr. R. Shanthi *& M. Vidya **

ABSTRACT

Today, the banking industry has been undergoing a rapid transformation by participating in the developments that are reshaping Indian economy. Customers are becoming more individualistic quality conscious and impulsive in their buying behavior that demands a complete range of products and services under one roof in order to optimize their satisfaction and therefore Customer Relationship Management Practices (CRM) is seen to be very important to these firms. The present study evaluates the CRM practices among banks from the customers’ perspectives. Zuliana et.al (2012) developed five dimensions comprising of 29 statements are used for this study: Customer Acquisition (9 items), Customer Response (9 items), Customer Knowledge (5 items), Customer Information System (3 items), and Customer Value Evaluation (3 items). Convenience sampling adopted to collect data from 150 customers of public Sector Banks in Chennai city using structured Questionnaire. Statistical techniques such as percentages, analysis of variance, reliability analysis and factor analysis are applied to analyze the data. The cronbach’s alpha Reliability statistics found out .888% of the variables reliability and the results of the internal consistency tests are considered good with Cronbach’s alphas ranging from 0.69 to 0.88. Factor analysis resulted that the statements explain about 62.84% of the variance explained and four factors extracted. This study reveals that, from the factor analysis customers perceived about bank has to use its technology in a better way to assess customer information and providing more services to attract new customers and also they need attractive benefits, satisfaction in services, confidentiality of information, transparency in the bank policies and some special treatment making them to feel loyal customers of their banks. This study also reveals that the age, education and income wise perception regarding the factor scores of CRM dimensions. The results of the study may help the service provider to understand the perception of customers and to aim at improved level of performance.

 

Keywords: Customer Relationship Management, public sector banks, customers’ perspectives


* Assistant Professor, Department of Commerce, University of Madras, Chennai – 5. Email- niran04@yahoo.co.in

** Ph.D, Research Scholar, Department of Commerce, University of Madras, Chennai - 5.

Email – vidyamathi@yahoo.co.in

 

 


References


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ISSN : 2251-1547