CUSTOMER REALTIONSHIP MARKETING AS A STRATEGY FOR BETTER BANKING RELATIONSHIP –A COMARATIVE STUDY OF STATE BANK AND PRIVATE BANK
Journal Title: International Journal of Marketing and Technology - Year 2012, Vol 2, Issue 4
Abstract
Since the end of the war in May 2009 the Central Bank has approved new bank 45 branches to be setup in the Northern peninsula. Already 11 banks have commenced operations. Hence it is clear that a bank operation in the war affected area is booming. It is worthwhile to compare this operation by looking at the perspective of private bank and state bank. The purpose of this study was to find out how customer relationship marketing (CRM) can be sued as a strategy to compete in the market. This study found out how the concept of relationship marketing helps to increase the operation in the banking system. Primary data were collected from the customers of one state bank and private bank through questionnaire and interviews. The Sample was 100 customers who visit once in a week at least. Collected data has analyzed by using both quantitative and qualitative methods to find out the Relationship marketing orientation of customers. Relationship marketing has been operationalized by using the model of trust and commitment (Morgan and Hunt 1994). It has found out there is a significance difference in “relationship marketing orientation” in state bank and private bank. Private Banks can be considered as more relationship marketing oriented than state banks. Additionally it has revealed that most of the female customers preferred Customers relationship marketing (CRM) than male customers. Further it has disclosed there is an impact on duration which customers spend with the bank and CRM. This research will highlight the importance of relationship marketing practice in both private and the state banking sector. This research can be expanded in other areas of services in business to business as well as business to customer.
Authors and Affiliations
Nalin Abeysekera and V. Kumaradeepan
Keywords
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