Publication Details

Saxena, R. P. & Khandelwal, P. K. 2011, 'Exploring customer perception and behavior towards CRM practices in banking sector: An empirical analysis', International Journal of Interdisciplinary Social Sciences, vol. 5, no. 9, pp. 375-391.


Globalization and competition on the one hand has created unlimited opportunities in each sector including the banking sector; but on the other hand has added many new challenges and threats too. "Survival of the fittest" is the truth of today's global market. To be more competitive, productive and profitable, today banks are changing their way of doing business; they are shifting from a transactional based marketing approach to a relationship based approach. Customer relationship management (CRM) has emerged as a new paradigm of marketing. The recent rush of publications in the area may give rise to the impression that CRM can be applied in any context, yet there is little empirical evidence to support it. CRM is, probably, one of the least clearly defined business acronyms, as there is no single definition for it. It is probably easier to say what CRM is not. Unfortunately, in many cases CRM has become a misnomer. Many a times, the companies who practice it never look at whether it is really pleasing their customers or irritating them. Do their customers have some serious issues and concern for it, which needs to be addressed? In most of the cases, companies feel that all their CRM approaches are working fine and are making their customers happy, but in reality it might not be true. The present study attempts to understand the customer perception and behavior towards CRM practices in banking sector in India-an emerging economy. It offers some insights and assistance to banking industry in planning their CRM strategies.