Study on The Perception Of Bank Executives on Customer relationship Management Practices in selected banks in Bengaluru

In a service sector dominated economy like Indian Economy,customer relationship management practices plays a key role in acquisition of new customers and retention of existing customers by service entities. The growth of the economy can be accelerated by financially strong banking and financial services sector. The financial strength of this sector depends on their customer satisfaction. The needs and expectations of their customers is constantly changing with the innovations in services and delivery modes. Therefore the key issue here is to identify the kind of services expected by the customers and whether the banks have understood their expectations and adopted CRM practices to meet them.

Hence, study was carried out to understand the perception of bank executives on customer relationship management practices in selected banks operating in Bengaluru district of Karnataka. Response to the questionnaire from hundred bank executives were collected and analyzed. After analyzing the data using Factor Analysis it was observed that the impact of CRM practices can be broadly classified under two factors namely, Effective banking services and security factors.