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Practical utility of customer relationship management practices – a discriminant function analysis

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Original Article

Author Details : S. Sharmila*, N Jamunarani

Volume : 5, Issue : 3, Year : 2018

Article Page : 280-284

https://doi.org/10.18231/2394-2770.2018.0044

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Abstract

In the present day, organizations face with numerous challenges such as increased uncertainty, cutthroat competition, financial crises, technological advancement, labour turnover, etc. The banking sector is highly complex and competitive with little stability due to the entry of national and international financial institutions in the emerging economies. The outstanding customer relationship management in the new generation private banks can improve their ability to lure affluent prospects, elevate the banks’ profitability, lower operation costs, and create greater customer loyalty. At this juncture, the present study is undertaken to study how the managers differ from staff of the banks in terms of their level of acceptance towards practical utility of customer relationship management practices of the new generation private banks in Puducherry. For collecting primary data from the customers, multi-stage sampling technique was adopted. The primary data were collected from 66 employees with the help of schedule. The secondary data were collected from journals, magazines, government reports, books and unpublished dissertations. The results showed that ‘attracts new customer’ is the maximum discriminating variable (R²%=24.11%) between managers and staff, followed by ‘creates friendly environment’ (12.53%), ‘growth in banking service’ (9.36%) and ‘boosts customer confidence’ (6.20%). The contribution of all other items discriminating between managers and staff are less than 5%.

Keywords: Customer relationship management, Relationship marketing, Service performance, Service quality in banks, etc.

How to cite : Sharmila S, Jamunarani N, Practical utility of customer relationship management practices – a discriminant function analysis. J Manag Res Anal 2018;5(3):280-284

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