Effectiveness of CRM programme in sbi

TABLE OF CONTENTS
i) Title of the project
ii) Objective & Scope of the study
iii) Literature Survey
iv) Methodology
v) Data Analysis
vi) Results and Discussion
vii)Findings and Conclusions
viii) Further scope of Investigation, if any

Title of the project
“EFFECTIVENESS OF CUSTOMER RELATIONSHIP
MANAGEMENT IN STATE BANK OF INDIA”
 Name of Candidate: ……………………….
 The award: The degree of Master of Business
Administration
 The year of submission: 2016

Objective of the study
To find out the customers’ satisfaction level.
To find out why customers have an account in more than
one bank.
To find the pitfall in the services of the bank.
To throw light on how banks are meeting the needs of
customers separately in order to maintain long relation.
And what bank should improve to increase its customers’
base and to compete other banks?

Scope of the study
The Customer is King! This credo is more powerful, relevant and true
today than ever before. In a truly customer driven economy, success
depends on a company’s ability to be with the customer on a round with
clock basis satisfying all their product and service specific needs. Simply
stated, Customer Relationship Management (CRM) is about finding,
getting, and retaining customers.
Customer Relationship Management is one of the hottest and most
talked about topics in the industry today and for good reason. CRM is
all about building long term business relationships with your
customers. CRM solutions empower business to more efficiently and
effectively manage the activities that affect their relationship with their
customers. The ultimate goal is to meet and exceed customer
expectations, create a positive customer experience and build customer
loyalty. CRM should finally enable “A TARGETED MUTUALLY
BENEFICIAL PROFITABLE RELATIONSHIP WITH INDIVIDUALS AND
GROUPS”.

Literature Survey
Berry (1983) defined relationship marketing as attracting, maintaining
and enhancing the customers’ relationships in multi-service
organisation. After a few decades, the evolution in relationship
marketing philosophy changed the word relationship marketing to
CRM. According to Brown (2000) CRM is a process of acquiring new
customers, retaining the existence customers, and at the same time
understands, anticipates and manages the needs of an organisation’s
current and potential customers. Furthermore, Mylonakis (2009)
described CRM as an innovative process to create a long term
relationship and gaining trust.
CRM in financial service industry is a cyclical process which starts with
definition of customer actions (Panda, 2003). CRM is fundamental to
building a customer-centric organisation. CRM is a key element that
allows a bank to develop its customer base and sales capacity.

 Introduction: Research is a process of collecting and analyzing and ultimately to
arrive at a certain conclusion. This research have done for the purpose of arriving
at a conclusion about the CRM Programme in SBI.
 RESEARCH PROBLEM:- “Effectiveness of customer relationship management in
STATE BANK OF INDIA”
 TYPE OF RESEARCH: - Descriptive Research
 Blend of Descriptive method have been use in this research for the collection of
data. As the research is related to the study of consumer satisfaction, which can
more effectively be studied through direct questions, personal interview and
informal talks-experimental research have not much effective. Also, considering
the time constraints, descriptive research leading to conclusive result is the most
suitable design for this research as it is related to why anything happening. It
checks the behavior features of a customer.
Methodology

 DATA COLLECTION METHOD: -
 Primary Data:-Questionnaire Method
 The data have been collected through questionnaire method. The questionnaire
has been designed in such a way to cover as many aspects of consumer behavior as
possible. Many questions have been asked in it for feedback from customers. In it
both opened ended questions and close ended questions have been asked for
study.
 Secondary Data: - Under this data have been taken from the internet. All the data
related to its profile, mission and capital structure have been taken.
 SAMPLE DESIGN: Random Sampling
 SAMPLE SIZE: 100
 SAMPLE UNIT: Individual
 STATISTICAL TECHNIQUES USED: Percentage Analysis
 DATA ANALYSIS: Analysis has been done using Percentage calculation, or tools
like Microsoft Excel. Data analyzed by tabulation, graphical presentation and
charts.
Methodology….contd….

Data Analysis
This Chapter is the analysis and discussion, this
section’s objective is to combine results of all the
chapters. Classification & tabulation transforms the raw
data collected through questionnaire in to useful
information by organizing and compiling the bits of
data contained in each questionnaire i.e., observation
and responses are converted in to understandable and
orderly statistics are used to organize and analyze the
data.

Results and Discussion
Customer mentalities are always growing, and business services should
increase along with these potentials. Here, the definition of CRM can be
stated as a way through which companies can interact with their
customers and so serve them better. Businesses with wealthy CRM
approaches and applications will result in a large raise in sales, customer
pleasure, and merely the overall achievement of the business.

The challenge that lies ahead for banks is Four Fold
1. They need to satisfy customer needs that are complex and difficult to
manage.
2. They need to face up to increased competition from within the sector
and from new entrants coming into the financial services market.
3. They need to address the demands based on supply chain.
4. They must continually invent new products and services in the light of
envisaged changes.

Findings and conclusions
• CRM is not a technology initiative; many have confused as a technology
initiative, and assigned the CRM implementation project to their
information system or IT group.
•Technology is needed in order to implement CRM particularly the
customization part but technology is not the driver of CRM or the solution
to successful CRM implementation.
•CRM is not exclusively a sales initiative similar to marketing; CRM is often
lodged with the sales department. The sales force after all it’s extremely
close to their customers, understanding their needs and wants, and trying
to fulfil them.
•Sales however is just one functional area that can benefit from customer
relationship management and that is necessary for effective customer
relationship management.
•91% customers are having their savings account. The current account
user are very less while percentage of the fixed deposits is 22.

Further scope of Investigation, if any
CRM is a powerful concept for the success of any industry. It paves the
way to maintain an optimistic relationship with customers to increase the
business and profitability. The strategies employed CRM is aimed at mutual
benefit to the customers and industries. It creates deep and wide impact on
customers and make in deep in roads in identifying the lucrative move of
the industries. Personal details of customers like gender, age, education
qualification are essential in determine in essential to perform better for all
the industries in fact it gives maximum credit and gains to the industry for
the future. The following studies have got the scope for the future
researcher.
1. A comparative study of public and private sector banks in CRM
practices.
2. A study on Customer Relationship Management Practices in foreign
banks.
3. A comparative study on CRM practices in selected banks in India.

Effectiveness of CRM programme in sbi

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