Customer Relationship Management With Respect To Recurring Deposit Account Of Sbi And Icici
...respect to Recurring Deposit Account of SBI and ICICI.
INTRODUCTION
Aim of Customer Relationship Management is to produce Customer Equity. Three major drivers of customer equity are:
1. Value Equity: This measures the customer perception about benefits relative to its cost. The sub drivers of value equity are quality, price and convenience.
2. Brand Equity: Customer's subjective and intangible assessment of the brand beyond the objectively perceived value. The sub drivers are customer brand awareness, customer attitude towards the brand, customer perception of brand ethics
3. Relationship Equity: Customers tendency to stick to the brand above and beyond the objective and subjective assessment of its worth .Sub drivers of relationship equity includes loyalty programs, community building programs and knowledge building program.
BASIS OF COMPARISONS
With the aim to make comparative analysis between the two Banks with respect to Recurring Deposit facilities, is done considering following factor:
Dissatisfaction level of customer
Reinforced customer
Convenience
Benefit and facility
Increase in customer revenue
Customer-Product profitability analysis is to compare the most profitable segment for the bank.
INTRODUCTION OF CRM
INTRODUCTION
CRM is a set of strategies, processes, metrics, organizational culture and
technology solutions that enhance an organization's ability to see the
differences in its customers' and prospects' behavior and needs, track new
opportunities to better serve their customers and act, instantly and profitably,
on those differences and opportunities. Recently CRM has taken a center
stage in the business world with businesses concentrating on saving money
and increasing profits by redefining internal processes and procedures. It
costs a company dramatically less to...
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