CUSTOMER RELATIONSHIP MANAGEMENT CRM is the development and maintenance of mutually beneficial long term relationships with strategically

customers.CRM is concerned with the creation, development and enhancement of individualised customer relationships with carefully targeted customers and customer groups resulting in maximizing their total customer life-time value.CRM is ultimately what the company defines it to be depending on their business objectives.

OBEJCTIVE: To measure the customers satisfaction level towards the company. To evaluate the role of CRM in satisfying & retaining customers. To find out the gaps, if any and give suggestions.

A Successful CRM implementation with: Properly trained front office staff Proper data and good use of it Proper workflow processes Proper integration of front office and back office Proper software to support the strategy Full support of top management

Result In recent years, significant developments have been experienced in the banking sector. With the improved technology, banks have come to be institutions that offer service for 24 hours through telephone, internet and ATMs. Besides the classic banking services, they have taken over a number of activities such as automatic bill, which facilitate the lives of the customers. The banks that carry out advertisement and presentation activities besides a variety of services offered to their customers undergo high costs for the sake of competition. However, expensive advertisement campaigns are not adequate in competition, for there is a serious need for high technologic substructure and automation support. It is of significance that banks should make one-to-one and individualized relationships with their customers, offer privatized services and determine the customers needs. To collect information about the customer and update them are among the important milestones of customer relationship management. Research results show that not only collecting data about the customers but also giving information to them arouses customer loyalty, arousing in him the sense that he is valued. The customer report that they are not kept waiting for long. The fact that banking procedures are fast and customers are not kept waiting much are rather important for customer loyalty. The personnels knowledge of banking and mastery of the subject accelerate the speed of the service given, so any attempt to train the personnel is necessary for customer loyalty. There are two objectives of customer relationship management in the banks. One of them is to gain customers, namely to activate the potential customers, and the other is to keep the number of the existing customers. To this end, customer database should be formed and updated frequently. For the communicative success of the personnel with the customers, the use of information systems is the requirement of customer-based understanding. Forming and sustaining healthy and long-term customer relationships have become an important means of competition in the banking sector. The attempt to retain the customer affects the success of the banks due to the

fact that one-to-one communication is achieved with the customer especially in field of commercial credit and the rate of profitability is taken from the credit customers. In summary, banks ability to retain their existing customers and gain new customers depends on accurate customer relationship management.

 Benefits of CRM

DECREASE IN OVERALL COSTS

QUALITY AND EFFICIENCY

CUSTOMER ATTENTION

DECISION SUPPORT

INCREASE PROFITABILITY

STRENGTHS Identifies best customers Holds all customers information Increases sales efficiency Ensures customers satisfaction

WEAKNESSES Overload of information Does not arrive with information already entered Lack of cultural preparation

OPPORTUNITIES Ability to please customer Increase sales base Improve relationship with customer

THREATS Loss of personal interaction Over automation Poor integration with back office systems

Index

Sr. no

Chap. no -

Contents Introduction of crm Objective of study Benefits of crm SWOT Analysis

Page no.

Research methodolgy Questionnaire Case Study Appendix Bibliography

Suggestions

There should be more and more emphasis given by the company for satisfying the customer up to a apex limit and by providing the utility of every penny of his money.

There should be more use of information technology. The company should be flexible to bend its rules and procedures in the clients favour.

The company can communicate and develop stronger customer bonding by providing social and financial benefits

Analysis The customers of the COMPANY are the wholesalers. It is because the number of retailers is very large as compared to the wholesalers. So it is not possible for the company to approach to the retailers. Therefore the company sells to the wholesalers and then wholesalers sell to the retailers. Customers are encouraged to give suggestions and complaints so that the company can improve its working and services. If the customers complaints are not resolved the customers will be dissatisfied and the company may lose its customers. Different customers have different requirements. So the company customize its product accordingly to satisfy the customers. It also gives more choice to the customers. To get the information about the customers and to measure the satisfaction the company conducts surveys. Because of the expertise needed in the research the company give this work to research agencies like AC NILSON. The company gives credit facility to its customers to increase the sales volume. If the company do not sell on credit the customers may switch over to other companies. The company maintains frequent communication with the customers. As soon as the product is ready or a new product is launched the information is provided to the customers. Communication is also necessary to maintain the interest of the customers in the company. The company gives concession to its regular customers so as to retain its most valuable and profitable customers. The company regularly reviews the business process in order to eliminate non value-adding activities, to reduce the cost and to make the whole work efficient and effective. If the internal customers are not satisfied and there is lack of coordination among the departments then it will affect the external customers also.

Conclusion From this study it can be concluded that the customer relationship management in Company is satisfactory. The company is using various CRM practices like customization of the product, maintaining interaction with the customers regularly and providing good quality product etc. Customer relationship management has a certain impact on the profitability of the company. Average sale per customer has increased 15% over the last two years. Customer response rate towards marketing activities is also improving. There are various factors affecting the customer relationship management like working environment of the company, support from top management and coordination among the departments of the company. Information technology is not used as much as it should be. The company is using traditional tools of CRM like quantitative research, personal interviews. The company should modern tools like data mining, contact center, e-CRM and web based survey tools