A COMPARITIVE STUDY ON CUSTOMER RELATIONSHIP MANAGEMENT IN PRIVATE AND PUBLIC SECTOR BANKS - WITH REFERENCE TO COIMBATORE

In the ongoing era of financial sector reforms in India, because of intense competition
commercial banks are vying with each other for market share. Customer satisfaction has
become all the more significant for survival and growth of banks in view of the discerning
customers of modern days. Customers are the focal point in the development of successful
marketing strategy. Customer retention assumes significance in revenue analysis of various
organizations. The success of CRM process depends on the active involvement of all
managers and employees in the banking field a unique ‘Relationship’ exists between the
customers and the bank. But because of various reasons and apprehensions like financial
burdens, risk of failure, marketing inertia etc., many banks are still following the traditional
ways of marketing and only few banks are making attempts to adapt CRM. Providing service
to customers has been identified as the prime responsibility of the Banks and therefore, Banks
considered that CRM is the best tool to perform the job of rendering good services