Customer Relationship Management for Competitive Advantage: A study of the Indian Banking Industry
Abstract
In the world of intense competition, where the customers and more demanding and the competition are just clicks away, better customer relationship management is the only source of competitive advantage. Creation of strong relationship is the essence of Customer Relationship Management(CRM), which in turn results in revenue optimization, profitability and cutomer satisfaction. Indian Banking Industry has witnessed significant changes in banking space in recent years and the biggest effect has been on customer loyalty. With more or less same offers available, banks are fighting hard with the tool of better and sustainable relationship measures. This paper attempts to understand the conceptual framework of Customer Relationship Management in the context of the Indian Banking Industry and the relatives merits that can be used for competitive advantage.