IMPACT OF CUSTOMER RELATIONSHIP AND LOYALTY ON BANKING INDUSTRY
Keywords:
CRM, Banking Sector, Satisfaction, Loyalty, Service QualityAbstract
Purpose: CRM is a collection of procedures that businesses use to keep and grow their client base. For increasing profitability and market share in the banking industry, it is essential to measure client relationships and loyalty. This article discusses an empirical assessment of the impact of customer relationship management (CRM) on bank client loyalty.
Objective: The study seeks to ascertain whether implementing an efficient CRM could increase Service Quality and customer loyalty.
Collection and statistical Tool: A Likert scale questionnaire is created for the study and given to 350 randomly selected customers who carry out their banking transactions. It was determined that Cronbach's alpha was 0.815, which is significantly higher than the desired level. Using Levene's test; t-test and ANOVA, the study found that using CRM could improve service quality and customer loyalty.
Result: The results show that customer relationship management has a big impact on customer happiness and loyalty. Customer loyalty is influenced by customer pleasure as well. Client relationship management's effects on customer loyalty were partially mediated by customer satisfaction. The findings of the study indicate that the bank's management needs to improve its CRM program in order to cultivate customer loyalty
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Copyright (c) 2023 Sangeeta Jain, Neha Modi, P.K Dua (Author)
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