The current paper studies the deployment of CRM best practices in the context of Indian retail banking, specific to a very prominent foreign bank situated in the country. The paper lists 29 CRM best practices culled from recent literature. Further, the research elaborates how well the best practices have been deployed in the selected bank. The study reveals that, excepting a few, many of the best practices are actually very well-deployed. The case study report will definitely guide other lagging Indian banks and even other non-banking service sector firms to go for comprehensive deployment of CRM best practices. Keywords: customer relationship management; best practices; retail banking; case study research.
Introduction: CRM has been a part of marketing literature since more than a decade. Interestingly, there is still much debate over what exactly constitutes CRM (Sin, Tse and Yim, 2005). According to Parvatiyar and Sheth (2001), some of the themes represent a narrow functional marketing perspective while others offer a perspective that is broad and paradigmatic in approach and orientation. One example of a narrow perspective is to view CRM as database marketing (Peppers and Rogers, 1995) emphasizing promotional aspects of marketing by leveraging customer databases. Other examples of a narrow approach include electronic marketing (Blattberg and Deighton, 1991 as cited in Sin et al., 2005) and after marketing (Vavra, 1992 as cited in Parvatiyar and Sheth, 2001). Electronic marketing encompasses all marketing efforts supported by information technology while after marketing efforts focus on customer bonding after the sale is made.
Click here to read more on CRM Best Practices in a Foreign Bank in India
- Powered by Article Dashboard magic the gathering 2010
- Powered by Article Dashboard magic the gathering card value
- Powered by Article Dashboard best magic cards
- powered by myBB arizona department
- powered by SMF arizona highway conditions
- customer relationship management in foreign bank
- customer relationship managment in banking sector of india
- customer relationship management in india banking sector example
- customer relationship management in bank of india example
- crm in indian banks case study