International Journal on Customer Relations

Open Access Open Access  Restricted Access Subscription Access
Open Access Open Access Open Access  Restricted Access Restricted Access Subscription Access

Discriminating Customers through Practices of CRM with the Application of Discriminant Function Analysis


Affiliations
1 Department of Business Administration, M.S.S. Wakf Board College, Madurai, Tamil Nadu, India
2 Post Graduate and Research Department of Commerce, Ayya Nadar Janaki Ammal College, Sivakasi, Tamil Nadu, India
     

   Subscribe/Renew Journal


Customer Relationship Management (CRM) is a broad concept for retaining, creating and expanding customer relationships in banking sector. The overall strategy of relationship marketing is to effectively manage the customers of the organisation. CRM enables to anticipate, understand, manages, and personalises the requirements of customer. Today, many business organisations such as insurance companies, banks and other service providers realize its importance. They also understand the potential of CRM which help them to attract new customers and retain existing ones which maximize their lifetime value. The current marketing scenario the CRM viewed as the process of acquiring customers with understanding their needs, wants and demands. The specific strategy of CRM approaches is find the current expectation and requirements of new customers in segmented market. It is also a process which invites total commitment on the part of the entire organisation regarding relationship strategies. So the researcher has taken to the study discriminating customers through practices of CRM with the application of discriminant function analysis. For the empirical investigation the data collected from 384 respondents through self administrated questionnaire. In order to cluster the respondents on the basis of CRM practices discriminant function analysis employed. The result of DFA (Discriminant Function Analysis) customer knowledge dimension is the best predictor for evaluating the CRM practices in banks.

Keywords

Customer Relationship Management, Banks, Discriminant function analysis, Relationship Marketing, Customer Satisfaction, CRM Practices.
Subscription Login to verify subscription
User
Notifications
Font Size


  • Abdullah, S. S., Manohar, R., & Manikandan, M. (2016). Framing hypothesized model for CRM practices in banks: Application of confirmatory factor analysis. ICTACT Journal on Management Studies, 2(1), 253-258.

  • Akroush. M. N., Dahiyat, S. E., Gharaibeh, H. S., & Abu-lail, B. N. (2011). Customer Relationship Management Implementation. International Journal of Commerce and Management, 21(2), 158-191

  • Alsmadi, S., & Alnawas, I. (2011). Empirical investigation of the CRM concept in the Jordanian context: The case of banks and financial institutions. International Journal of Business and Management, 6(2), 182-195.

  • Anshari, M., Al-Mudimigh, A., & Aksoy, M. (2009). CRM initiativeness of banking sector in Saudi Arabia. International Conference on IT, Thailand, 56.1-56.7.

  • Das, S. K. (2012). Customer relationship management in banking sector: A comparative study of SBI and other nationalised commercial banks in India. Arth Prabandh: A Journal of Economics and Management, 1(6), 68-82.

  • Das, K., Parmar, J., & Sadanand, V. K. (2009). Customer relationship management (CRM) best practices and customer loyalty: A study of Indian Retail Banking Sector. European Journal of Social Sciences, 11(1), 61-85.

  • Jayakumar, A., & Sathiya, N. (2010). Customer relationship management (CRM): Customer retention. Indian Economic Panorama, 20(2), 28-30.

  • Limbad, S. J. (2015). Measuring performance of banks on CRM practices in Surat region, 5(1), 1-10.

  • Namjoyan, M., Esfahani, A. N., & Haery, F. A. (2013). Studying the effects of customer relationship management on the marketing performance (Isfahan Saderat Bank as a case study). International Journal of Academic Research in Business and Social Sciences, 3, No. 9.

  • Nyangosi et al. (2009). The evolution of e-banking: A study of Indian and Kenyan technology awareness. International Journal of Electronic Finance, 3(2), 149-165.

  • Rao, P. S., & Rao, K. R. (2016). A study on service quality and CRM practices in selected commercial banks in Srikakulam District. International Conference on Recent Innovations in Science Engineering and Management, 1057-1067.

  • Sadek, H., Yousef, A., Ghoneim, A., & Tantawi, P. (2011). Measuring the effect of customer relationship management (CRM) components on the non-financial performance of commercial banks: Egypt case. European, Mediterranean & Middle Eastern Conference on Information Systems, May, Athens, Greece, 432-450.

  • Simo, M., & Bregasi, M., (2013). CRM and challenging aspects in the banking sector: Case of Albania. European Academic Research, 1(4), 32-41.

  • Tahir, I. M. (2011). A Preliminary analysis of CRM practices among Banks from the Customers’ perspectives. Journal of Public Administration and Governance, 1(1).

  • Yao, H. I., & Khong, K. W. (2011). Effectiveness of customer relationship management on customer satisfaction in the commercial banks of Taiwan. Contemporary Management Research, 7(2), 105-116.


Abstract Views: 311

PDF Views: 0




  • Discriminating Customers through Practices of CRM with the Application of Discriminant Function Analysis

Abstract Views: 311  |  PDF Views: 0

Authors

Sheik Sulaiman Sheik Abdullah
Department of Business Administration, M.S.S. Wakf Board College, Madurai, Tamil Nadu, India
Rahumathulla Mohammed Abubakkar Siddique
Post Graduate and Research Department of Commerce, Ayya Nadar Janaki Ammal College, Sivakasi, Tamil Nadu, India

Abstract


Customer Relationship Management (CRM) is a broad concept for retaining, creating and expanding customer relationships in banking sector. The overall strategy of relationship marketing is to effectively manage the customers of the organisation. CRM enables to anticipate, understand, manages, and personalises the requirements of customer. Today, many business organisations such as insurance companies, banks and other service providers realize its importance. They also understand the potential of CRM which help them to attract new customers and retain existing ones which maximize their lifetime value. The current marketing scenario the CRM viewed as the process of acquiring customers with understanding their needs, wants and demands. The specific strategy of CRM approaches is find the current expectation and requirements of new customers in segmented market. It is also a process which invites total commitment on the part of the entire organisation regarding relationship strategies. So the researcher has taken to the study discriminating customers through practices of CRM with the application of discriminant function analysis. For the empirical investigation the data collected from 384 respondents through self administrated questionnaire. In order to cluster the respondents on the basis of CRM practices discriminant function analysis employed. The result of DFA (Discriminant Function Analysis) customer knowledge dimension is the best predictor for evaluating the CRM practices in banks.

Keywords


Customer Relationship Management, Banks, Discriminant function analysis, Relationship Marketing, Customer Satisfaction, CRM Practices.

References