Synopsis Customer Relationship Management Icici Bank

ABSTRACT:
The significance of Customer Relationship Management (CRM)

is known to newline various businesses such as banks, insurance companies, and new service
providers and its newline helpful help to obtain innovative customers, keep hold of existing ones
and capitalize on newline their duration value. A secured bond with customers requires a strong
synchronization newline between Information Technology (IT) and marketing department for
long-term retention newline of preferred customers. Newline the CRM is a business strategy to
recognize the bank’s most profitable customer’s newline and prospects and devotes time and
attention to expand account relationships with those newline customers through individualized
marketing, re-pricing, discretionary decision making and newline customized services delivered
through various sales channels that the bank uses. 1 newline CRM is a process by which a company
maximizes customer information in an newline effort to increase loyalty and retain customersand;
business over their lifetimes.2 From newline marketing phase, CRM is defined as A grouping of
business procedure and technology newline that seek to recognize a company and customers from
the viewpoint of who they are, what newline they do, and what they are similar to. 3 Accordingly,
IT and marketing departments must newline effort closely to apply CRM professionally. Newline
the goals of CRM is to: newline1. To build a long-term and profitable relationship with chosen
customers newline.
INTRODUCTION
Customer Relationship Management
Customer Relationship Management entails all aspects of interaction a company has with
its customer, whether it is sales or service related; it starts with the foundation of relationship
marketing. CRM is a systematic approach towards using information and ongoing dialogue to built
long losing mutually beneficial customer relationship. The use of CRM technology forms the
crucial front-end of any e-business strategy, essentially CRM has emerged as convivial weapon in
the hands of the industry laggards as well as leaders to cascade the business suites; the only touch
point which is formulating this base is the awareness amongst the corporatists to suffice the
customers already available to the companies to large extent.
In today’s first-paced competitive business environment it’s more important than ever to
create and maintain long-losing business relationships.
Today, Customer Relationship Management (CRM) manages business process spanning
sales, support, and marketing creating effective customer interactions. Given the purpose of CRM,
the functionality is straightforward, and the benefits of successful deployments clearly generate
value and profitability for any company. Grate CRM solutions need to encourage users to interact
with the application as well as be in-tune with the business and IT cost-saving needs.
“For the modern-day CRM to be world class it needs to be revolutionary in market
incursion and evolutionary in technological up gradation.”
Today the major business focus is towards endowing value addition to the sales cycle, and
customer retention rather than constructing a new customer base which is costlier and also an
uncertain chase from business perspective. The basic philosophy behind CRM is that a company’s
relationship with the customer would be the biggest asset in the long-run.
It is now vital for CRM vendors to develop a sound understanding of their target
organizations customer and deliver them with solutions which help in achieving long-term
business relations with their customers. Vendors must also build long-term customer relationship
management strategies with the end-user organizations to assure a series of deployments, and
hence ensuring a regular revenue stream for themselves as well as their customers.
RESEARCH METHODOLOGY
Research is common parlance refers to a search for knowledge. According to the
advanced learner’s dictionary of current English, research means “a careful
investigation or inquiry especially through search for new facts in any branch of
knowledge”.
Research is, thus, an original contribution to the existing stock of knowledge through
objective and systematic method of findings. Thus, the term ‘research’ refers to the
systematic method consisting of enunciating the problem, formulating a hypothesis,
collecting the facts or data, analyzing the facts and reaching certain conclusions either
in the form of solution(s) towards the concerned problem or in certain generalizations
for some theoretical formulation.
DATA COLLECTION INSTRUMENTS

The task of data collection begins after a research problem has been defined and
research design chalked out.
There are two types of data, which should be kept in mind while deciding about the
method of data collection to be used for the study viz. Primary and secondary.
(a) Primary Data: One those which are collected a fresh and for the first time, thus it
happens to be original in character.
(b) Secondary Data: are those which have been already collected by someone else and
which have already been passed through the statistical process.
COLLECTION OF DATA
(a) Primary: We collect primary data during the course of doing experiments in an
experimental research by different methods through observation or through direct
communication with respondents in one form or another or through personal
interviews. The important ones are:
(i) Observation method
(ii) Interview method
(iii) Through questionnaires
(iv) Through schedules
(v) Other methods like warranty cards, audits, projective techniques, depth
interviews, etc.
Among the above various methods of collecting Primary Data, the one that I have used
in my study is:
Questionnaires: A questionnaire consists of a number of questions printed or typed in a
definite order on a form or a set of forms. I have used the questionnaire survey wherein
the employees and dealers of Icici Bank in Hyderabad have filled the questionnaire. I
chose this method since:-
(i) It is more economical.
(ii) It is free from the bias of the interviewer.
(iii) The sales distributors had enough time to give well thought out answers.
(iv) Those sales distributors who are not easily approachable were reached
conveniently.
(v) The results are more dependable and reliable.
(b)Secondary : When the researcher utilizes secondary data, he has to look into various sources
from where he can obtain them. Secondary data may either be published data or unpublished data.
The secondary data has been collected mainly from books, journals, magazines & online resources
on the Internet. Primary data was collected from the people from the Printing industry.
The observations and suggestions in the report are based on the following:
 Field work in Hyderabad
 Meetings with the distributors and sales officers
The final stage consisted of analysis and interpretation of all the collected data. The
issues raised in the primary research were critically examined, followed by some
recommendations, which could enhance the industries potential
NEED FOR THE STUDY
Organizations having be competitive environment with relationship management of

customer and they are attracting the customer with some effective sale promotions. But some
organizations need to evaluate the purpose, utility, effectiveness of customer satisfaction. They are
fails to evaluate this customer relationship management. So these study has been undertaken to
asses the customer relationship management in the organization.
OBJECTIVE OF THE STUDY
Primary objective:
 To study and analyze the Customer Relationship Management Initiatives at Icici
Bank.
Secondary objective:
The secondary objective of my study was to recommend strategy to ensure
achievement of prescribed parameters. These parameters are:
1) All request for services come to Icici Bank.
2) Requests received are updated or activated on time.
3) Errors free updation.
LIMITATIONS
I have observed the following limitations in the course of my study.
1. The areas which were selected were limited only to Hyderabad i.e., the findings
are regional and do not represent the state or country.
2. Time constraints hampered the study.
3. Since the study involved in gathering information was from upper to higher-
middle class people, interaction with them became difficult.
4. There may be respondent’s bias.
5. Even though utmost care has been taken in conducting the survey, the findings
may sometimes differ from the population.

SCOPE OF THE STUDY:
The scope is confirmed only to examine the “Customer relationship management with
reference to “ICICI BANK” and to find possible remedies to counteract their competition in
the market.
CHAPTERISATION
Detailed/final Project Report will include the following chapters
Chapter –I Introduction
Significance of the study
Need of the study
Objective and scope of study
Methodology
Limitations
(Details of methodology used in studying and collecting the data and issue will be
described)
Chapter –II literature review
Chapter –III Industry & company profile
Chapter –IV Analysis of the topic & Interpretation

(Descriptive work on the topic, this chapter will include analysis and interpretation of data
tabulation and categorization)
Chapter –V
Recommendation
Bibliography
Appendix-1
Bibliography
1. KOTHARI C.R., “RESEARCH METHODOLOGY”,

Second Edition, Vishwa Prakashan, New Delhi, 1990.
2. KOTLER PHILIIP, “MARKETING MANAGEMENT”

PRANTICE- HALL OF INDIA, NEW DELHI, 1991.
3. Literature provided by the company.
4. http://www.ICICI.com
5. http://www.google.co.in

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ABSTRACT:

The significance of Customer Relationship Management (CRM)

DATA COLLECTION INSTRUMENTS

Organizations having be competitive environment with relationship management of

OBJECTIVE OF THE STUDY

are regional and do not represent the state or country.

2. Time constraints hampered the study.

middle class people, interaction with them became difficult.

4. There may be respondent’s bias.

may sometimes differ from the population.

Chapter –II literature review

Chapter –III Industry & company profile

Chapter –IV Analysis of the topic & Interpretation

1. KOTHARI C.R., “RESEARCH METHODOLOGY”,

2. KOTLER PHILIIP, “MARKETING MANAGEMENT”

3. Literature provided by the company.

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