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Madan, Rupali
- A Study of Comparison of Private and Public Sector Banks Regarding Various Aspects of Relationship Marketing
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Authors
Affiliations
1 YMCAUST, Faridabad, Haryana, IN
2 Lingaya’s University, Faridabad, Haryana, IN
1 YMCAUST, Faridabad, Haryana, IN
2 Lingaya’s University, Faridabad, Haryana, IN
Source
International Journal on Customer Relations, Vol 6, No 1 (2018), Pagination: 65-71Abstract
In today’s competitive world, it has become mandatory to maintain the relationship not only with customers but also with other stakeholders. After liberalisation, privatisation, and globalisation, private banks are giving tough competition to public sector banks. The present paper compares the public sector and private sector banks in various aspects of relationship marketing. For the same purpose, 23 variables have been taken. The mean and standard deviation have been calculated. The data has been collected through the chosen employees of the different banks. The area chosen for the study is national capital region (NCR). Independent t-test has been used for comparing the banks. It has been observed that there is a significant difference between private sector and public sector banks. The performance of private sector banks has been found to be better in every aspect studied.Keywords
Relationship Marketing Strategies, Private Sector Banks, Public Sector Banks, Customer Relationship Management.
References
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- A Study of Relationship Marketing Strategies in Public and Private Banks with Special Reference to NCR
Abstract Views :249 |
PDF Views:0
Authors
Affiliations
1 YMCA University of Science and Technology, Faridabad, IN
2 L, Lingaya’s University, Faridabad, IN
1 YMCA University of Science and Technology, Faridabad, IN
2 L, Lingaya’s University, Faridabad, IN
Source
Asian Journal of Management, Vol 8, No 3 (2017), Pagination: 384-388Abstract
Relationship Marketing is process to attract, interact and retain the profitable customers. In modern world, banks are feeling increasing competitive pressures. Therefore, it has become compulsion for them to follow the concept of relationship marketing. The objective of the paper is to know about the relationship marketing strategies adopted by public and private sector bank. The study has been done from the perspective of employees. For identification of variables, literature review has been done. The data was collected from the employees of banks selected. 36 variables have been reduced to the eight factors. Exploratory Factor Analysis has been done using SPSS 21. Eight factors found are customer service, special treatment to customers, employee empowerment, multichannel approach and channel optimization, customer lifetime value, customization of products, customer database management and last but not the least technical expertise.Keywords
Relationship Marketing Strategies, Customer Service, Customer Database, Customer Lifetime Value, Customer Relationship Management, Exploratory Factor Analysis, Customization, Channel Optimization.References
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- Kothari C.R., Research Methodology, New Age International Limited Publisher
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- Hiebeler, R., Kelly, T. B., Ketteman, C. (1998), “Best practices: Building your business with customer-focused solutions”, New Delhi: Simon and Schuster.
- Sheth N. Jagdish, ParvatiyarAtul, G Shainesh: edited,(2001) : Customer Relationship Management , emerging concepts, tools and applications , Tata McGraw-Hill
- Agrawal R., Dr. Matta Mittu G, Madan R (2014)., "Relationship Marketing in Indian Banking Sector: A Review in ZIJBEMR , 4(6), 181-188
- Chimote, N. K., and Srivastava, A. (2011). A Study on the effectiveness of Relationship Marketing practices with existing customers in banking industry. Romanian Journal of Marketing, (4), 42.
- Cokins, G. (2002), “Measuring customer value: How BPM supports better marketing decisions”, Business Performance Management, 13-18.
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- Hussain Iftikhar, Hussain Mazhar, Hussain Shahid and Sajid M.A. (2009), “Customer Relationship Management: Strategies And Practices In Selected Banks Of Pakistan”, International Review of Business Research Papers, 5(6),.117-132
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- Madan R., Agrawal R., Dr. Matta Mittu G(2012) , “Service Quality in Banking Sector “With special reference to Haryana” in International Journal of Business Economics and Management Reserach, Zenith 2(11), 155-165
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