ABSTRACT

Gone are the days when the Business transactions were a key to success in any business project/venture, where as the hitherto traditional system of marketing has failed to deliver the expected results in the recent time. Modern business world widely recognizes the satisfaction of the customer which is called by Green Leaf and Winner (2002). CRM as a significant business policy which is a highly important factor to achieve great returns in business transactions/projects. It would not be an exaggeration to say that “Customer is the King”. These days according to the banks and financial institutions productivity is measured in terms of established concept of CRM. This concept is based on the integrated business activities to discover, create and satisfy ‘customer’s need. This term CRM is further related to three-pronged integrated business activity; Operational, Collaborative and the last one is Strategy. Whereas the operational aim is to deal with sales, marketing and services, the collaborative policy is to interact with the customer’s mind set and the last one, strategy, comprises of software packages to adopt the CRM practices in the bank and other categories of financial institutions & corporations.