Asian Journal of Management

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A Study of Relationship Marketing Strategies in Public and Private Banks with Special Reference to NCR


Affiliations
1 YMCA University of Science and Technology, Faridabad, India
2 L, Lingaya’s University, Faridabad, India
     

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Relationship Marketing is process to attract, interact and retain the profitable customers. In modern world, banks are feeling increasing competitive pressures. Therefore, it has become compulsion for them to follow the concept of relationship marketing. The objective of the paper is to know about the relationship marketing strategies adopted by public and private sector bank. The study has been done from the perspective of employees. For identification of variables, literature review has been done. The data was collected from the employees of banks selected. 36 variables have been reduced to the eight factors. Exploratory Factor Analysis has been done using SPSS 21. Eight factors found are customer service, special treatment to customers, employee empowerment, multichannel approach and channel optimization, customer lifetime value, customization of products, customer database management and last but not the least technical expertise.

Keywords

Relationship Marketing Strategies, Customer Service, Customer Database, Customer Lifetime Value, Customer Relationship Management, Exploratory Factor Analysis, Customization, Channel Optimization.
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  • A Study of Relationship Marketing Strategies in Public and Private Banks with Special Reference to NCR

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Authors

Rupali Madan
YMCA University of Science and Technology, Faridabad, India
Rachna Agrawal
YMCA University of Science and Technology, Faridabad, India
Mitu G. Matta
L, Lingaya’s University, Faridabad, India

Abstract


Relationship Marketing is process to attract, interact and retain the profitable customers. In modern world, banks are feeling increasing competitive pressures. Therefore, it has become compulsion for them to follow the concept of relationship marketing. The objective of the paper is to know about the relationship marketing strategies adopted by public and private sector bank. The study has been done from the perspective of employees. For identification of variables, literature review has been done. The data was collected from the employees of banks selected. 36 variables have been reduced to the eight factors. Exploratory Factor Analysis has been done using SPSS 21. Eight factors found are customer service, special treatment to customers, employee empowerment, multichannel approach and channel optimization, customer lifetime value, customization of products, customer database management and last but not the least technical expertise.

Keywords


Relationship Marketing Strategies, Customer Service, Customer Database, Customer Lifetime Value, Customer Relationship Management, Exploratory Factor Analysis, Customization, Channel Optimization.

References