Customer relationship management in indian retail banking industry
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  • 1. International Journal of Management (IJM)International Journal of Management (IJM), ISSN 0976 – 6502(Print), ISSN 0976 – 6510(Online)Volume 2, Number 1, Dec - JanISSN 0976 – 6510(Online)ISSN 0976 – 6502(Print), (2011), © IAEME IJMVolume 2, Number 1, Dec - Jan (2011), pp. 41-51© IAEME, http://www.iaeme.com/ijm.html ©IAEM E CUSTOMER RELATIONSHIP MANAGEMENT IN INDIAN RETAIL BANKING INDUSTRY T.VIJAYAKUMAR Assistant Professor (Sr.Grade) SRM School of Management SRM University Kattankulathur-603 203 Dr. R. VELU Professor, SRM School of Management SRM University, KattankulathurABSTRACTThe prime objective of the research work is to develop a framework for CustomerRelationship Management Model (CRMM), applicable to Indian retail banks and toanalyze the influence of service quality on customer behavior with respective to retailbanks. The results of the research study reveal that there appears to be lack ofawareness with the bank employees as well as adoption of CRM packages available inthe market. It is suggested that the successful implementation of CRM package can beachieved only if the bank can create the right environment, culture and attitude of theemployee aiming to serve the customers in the best possible manner.Keywords: Customer Relationship Management (CRM); Retail Bank; StandardProcessing Time (SPT) and Crafting Complaint Resolution Mechanism (CCRM)1.0 INTRODUCTION TO CUSTOMER RELATIONSHIPMANAGEMENT (CRM) The traditional mode of marketing mainly focused on segmenting andacquiring new customers by using tools and techniques developed for massmarketing. In the present competitive era, this proves vain. Today there are differentapproaches to business such as relationship marketing, customer retention and cross-selling leading to customer extension, which is a far cry from the traditionalsegmentation model. The relative and marked emergence of CRM as a business strategy hasradically transformed the way organizations operate. The shift in business focus fromtransactional to relationship marketing keeps the customer at the centre of all businessactivities. Organizations are trying to restructure their processes to meet the needs oftheir strategically significant customers. The critical driver of such a dramatic shifttowards customer orientation is the realization that customers are business assets andwhen managed effectively they can derive continuous and sustainable economic valuefor an organization over their lifetime. The dynamics of the banking ecosystem have changed the business format ofretail banks both in relationship management and in streamlining their operations. 41
  • 2. International Journal of Management (IJM), ISSN 0976 – 6502(Print), ISSN 0976 – 6510(Online)Volume 2, Number 1, Dec - Jan (2011), © IAEMERelationship marketing or customer relationship management has been emerging as acore marketing activity for businesses in the fiercely competitive environment. On anaverage, companies spend six times more to acquire new customers than to retainthem. Therefore, many firms are now paying more attention to their relationships withexisting customers to retain them and to increase their share of customer purchases. In order to improve the relations with the customers, today’s Retail Bankingcomprehensively concentrates on the quality of the products and the services offeredto the customer, as it is the basic foundation for maintaining and developing long-termrelations with the customer. Offering quality products and services is not onlyessential to develop long-term customer relations, but is also essential to improvemarketing productivity and long run profits and growth. In sum, managing customers today has turned into a well formulated and wellstudied science and art known as Customer Relationship Management (or) CRM.2.0 STATEMENT OF PROBLEM The intensity of competition in banking industry is bound to grow in the yearsto come which in turn could make banking operations more challenging and complex.A paradigm shift is noticeable in the banking industry in India. Such a shift reflects interms of number of banks, Volume of Business in banking as well as nature ofbusiness operations. Bankers in general have moved a long way from mere financialintermediaries to full-fledged financial institutions. In the context of competing bankers who are performing with almostundifferentiated services, for almost equal prices; the customers of one bank are leftwith multiple options to move over to some other banks in search of better services,with little or no barrier of switch over from one bank to another. Bankers have to necessarily perform their banking operations with thelikelihood risk of the customer making a bank switches over at any given point oftime that might result in decline in revenue or loss of revenue on the whole. To prevent or minimize this possibility of customer deflection; bankers haveto come out with customer centric strategic decision. Obviously the conditions drawthe attention in evolving meaningful CRM which would provide a platform for notonly retaining existing customers but also to expand the customer base by attractingadditional customers. In a rapidly scaling up retail banking industry, the major issues are to holdback the existing customers from migrating towards competitors and in acquiring newcustomers. In retail banking, product development is limited to the governmentregulations henceforth the other major challenge is to have product differentiation.3.0 STATEMENT OF OBJECTIVES • To develop a framework for Customer Relationship Management Model (CRMM), applicable to Indian retail banks. • To analyze the influence of service quality on customer behavior with respective to retail banks. • To examine and assess customer satisfaction levels and their influence in building the customer loyalty to achieve a sustained market share and profit. • To examine and assess the external and internal service quality perceptions in respect of retail banks. 42
  • 3. International Journal of Management (IJM), ISSN 0976 – 6502(Print), ISSN 0976 – 6510(Online)Volume 2, Number 1, Dec - Jan (2011), © IAEME4.0 REVIEW OF LITERATURE Government of India has appointed several committees and task force groupson the basis off specific needs with the overall aim of enhancing the efficiency of thebanking systems in the country. Following is the review of selected reports andStudies. Further, Select research Studies, in the area pertaining to the field of researchhas also been reviewed Various Committees have been appointed from time to time to study servicequality in banks and to provide concrete recommendations. The Banking Commissionappointed Saraiya Committee in 1972 which provides 77 recommendations, followedby Talwar Committee (1975) with 176 suggestions and Goipuria Committee (1980)which studied the causes of below par customer service in banks and suggested 97recommendations for improvement of work culture in Indian banking. Theserecommendations give a clear picture about the need of CRM in banks. Barbara R Lewis1 (1991),in a research on service quality, an empiricalresearch findings presented from an investigation of consumer expectation andperception of service quality customer of banks, in the UK and US; indicated theimportance of a range of elements of services quality and their perception of serviceactually received. Number of similarities and difference between the UK and the US respondentsare highlighted together with evidence of success to date of the banks in their deliveryof service quality. In their findings with respect to the increasing customers,expectations both the UK and the US respondents were found to have very highexpectation of service from their banks across most of the dimensions which wereinvestigated, in particular with respect to the reliability elements, honesty,trustworthiness and discretion of contact staff. The UK bank customer gave higherrating to privacy, interior and staff appearances and using customer suggestions toimprove service and the US respondents were more concerned about location andparking, opening hours, number of staff available to serve and several of the personalcharacteristics of bank staff they came in contact with. Median and Arthur2 (1994), in a study investigate the main dimensions andattributes that Greek cardholders consider of importance. When selecting a cardmarket, characteristic competitive environment and cardholders profiles in relation tocredit is considered. By investigating a representative quota sample of Greekcardholders taking into account demographic factors such as age, sex and income onthe relative important of the main attributes that play a role in card selection. Freeman and Andrew3 (1996) have examined an electronic bankingexperiment by an American bank, First union, at a branch in Asheville, NorthCarolina, the use of so-called customer relationship managers and challenges the bankfaces from customer behavior. The findings shows that customer get elated by a newlook. The walls knocked out to create open areas and desks repositioned to seem; lessintimidating. The ATM in the branches, being enhanced to offer such services as1 Barbara R Lewis1 (1991),,”Service Quality: An International Comparison of BankCustomers Expectation and Perception”, Journal of Marketing Management, Vol(27), (July),p.472 Median and Arthur (1994), ‘Credit and Charge Card Selection Criteria in Greece’,International Journal of Bank Marketing, 12(2): 36.3 Freeman and Andrew (1996),’It’s Consumer Banking’, Economist, 10/26/96, 341(7989): 6. 43
  • 4. International Journal of Management (IJM), ISSN 0976 – 6502(Print), ISSN 0976 – 6510(Online)Volume 2, Number 1, Dec - Jan (2011), © IAEMEinstant cheque-cashing, mini-statement of recent transactions, split deposits and coinfacilities. Pacek, Megan4 (2000) highlighted a survey conducted by AmericanManagement Systems showing that the financial services company that got the mostprofit from their retail customer did so with integrated cross-departmental strategies.He also said that the process of CRM should involve identifying your most valuablecustomer and making sure to put together special tactics that help them through thetransition. He conclude by saying in a merger one of the key factors of success is thesystematic management of the 20 % who are profitable while not ignoring the other80 % and ensuring that the key value segments are experiencing minimal disruption. Tynan and Thomas5 (2000) reported on the Internet’s influence on bank CRMin United State. They went into the importance of CRM to banks profits; Customercomparison of the level and customization of services and the use of customerservices to generate sales. The findings suggest the optimal program for banks asmanaging the customer experience; generate customer insight and managing customervalue.4.1 THE CRM MODEL FOR RETAIL BANK Figure 1: The CRM Model for Retail Bank5.0 RESEARCH METHODOLOGY5.1 Area of the Study The area preferred for the research is Kancheepuram District.5.2Population The population for the study consisted of the total number of retail banks inkancheepuram district and their customers. Of the total banks, the following six banksnamely SBI, Indian Bank, ICICI, CUB, Barclays Bank and CITI bank control more4 Ptacek and Megan J (2000),’Banks Missing out on Customer Relationship Bounty, SurveyFinds’, American Bankers, 05/04/2000, 165(86): 11.5 Tyana and Thomas G (2000),”Web adds Pressure for CRM”, American Banker, 04/20/2000,165(77): 6. 44
  • 5. International Journal of Management (IJM), ISSN 0976 – 6502(Print), ISSN 0976 – 6510(Online)Volume 2, Number 1, Dec - Jan (2011), © IAEMEthan sixty percent of the deposits and loans6 in kancheepuram District. Therefore thestudy was confined to these six banks. The details of the number of branches of thesesix retail banks in Kancheepuram District are as follows:Table 1: Number of branch of the retail banks in Kancheepuram District taken for thestudy Name of the Bank Number of Branches SBI 14 Indian Bank 27 ICICI Banks 4 City Union Bank 3 Barclays Bank 1 CITI Bank 1 TOTAL 50 Source: Primary Data – 2010In determining the sample size the factors that played a major role are time taken bythe respondents to fill up the questionnaires, the number of respondents willing to partwith information, resources required and the working hours of the bank. Theresearcher visited the customer’s of various bank branches of six banks on differentdays during the month of December 2009 to June 2010 to collect data.5.3 Data Sources5.3.1 Primary DataPrimary data was collected by interacting with the bank`s customers5.3.2 Secondary Data Secondary data from the various websites and information from the various studies carried out previously in this area, source from RBI offices in Mumbai, National Institute of Bank Management office at Pune, RBI websites, books, report-published as well as unpublished and journals5.4 Data Collection Tools Based on suggestions given by the bank managers, account holders and statisticians two detailed interview schedule were framed; one for the retail bank customers and another for bank employees. Part I of the interview schedule is designed for collecting the information related to the behavior of the respondent and their external service quality.5.5 The Sample The questionnaire drafted for the interview schedule meant for the customers was distributed to 451 respondents of the various bank branches taken for the study. Nine customers in a branch are considered as a research sample in each bank as presented in Table 2 Table 2: Distribution of Sample Respondents (Bank customers) Name of the Bank Number of Bank Customers SBI 126 Indian Bank 244 ICICI 36 City Union Bank 27 Barclays Bank 9 CITI Bank 9 Total Sample size 451 Source: Primary Data – 20106 Business Today Survey of India`s Best banks dated December 22,2002,p52 45
  • 6. International Journal of Management (IJM), ISSN 0976 – 6502(Print), ISSN 0976 – 6510(Online) Volume 2, Number 1, Dec - Jan (2011), © IAEME 6.0 DATA ANALYSIS Explanatory factor analysis is used to identify the underlying constructs and investigate relationship among the variables. To test the suitability of the data for factor analysis, the following steps are taken. • The correlation matrix was computed and examined. It reveals that there are enough correlations to go ahead with factor analysis. • To test the sampling adequacy, Kaiser-Meyer-Olkin measure of sampling adequacy is computed which is found to be 0.804. It indicates that sample is good for sampling. The overall significance of correlation matrices is tested with Bartlett test of sphericity ((Approximately Chi-square 4442.044 and significant at 0.000) provided as well as support for the validity of the factor analysis of the data set. Table 3 KMO and Bartlett`s test KMO and Bartlett`s test Kaiser – Meyer – Olkin Measure of Sampling Adequacy 0.804 Approx.Chi-Square 4442.044 Bartlett`s Test of Sphericity Df 435 Sig. 0.000 Source: Output from SPSSThe table above shows that the standards indicated makes the data suitable for factoranalysis. Principal component Analysis is employed for extracting factor. Orthogonalrotation with Varimax was applied. The latent root criterion is used for extraction offactors. As per it, only the factors having Eigen values greater than one are consideredsignificant. All the factors with Eigen values less than 1 are considered insignificant anddisregarded. Table 4 Total Variance Explained Initial Eigenvalues Extraction Sums of Squared Loadings Rotation Sums of Squared LoadingsComponent Total % of Cumulative Total % of Cumulative Total % of Cumulative Variance % Variance % Variance %1 7.136 23.786 23.786 7.136 23.786 23.786 3.382 11.273 11.2732 2.024 6.747 30.533 2.024 6.747 30.533 2.555 8.516 19.7903 1.814 6.047 36.580 1.814 6.047 36.580 2.424 8.079 27.8684 1.568 5.225 41.805 1.568 5.225 41.805 2.235 7.451 35.3195 1.510 5.035 46.840 1.510 5.035 46.840 2.208 7.359 42.6786 1.337 4.457 51.297 1.337 4.457 51.297 1.902 6.338 49.0167 1.179 3.931 55.228 1.179 3.931 55.228 1.863 6.211 55.2288 1.125 3.749 58.9779 1.064 3.546 62.52310 .944 3.145 65.66811 .858 2.860 68.52812 .827 2.757 71.28613 .788 2.626 73.91214 .736 2.453 76.36515 .720 2.399 78.76416 .671 2.235 81.00017 .614 2.045 83.04518 .563 1.877 84.92219 .529 1.764 86.68620 .510 1.701 88.38721 .490 1.634 90.02022 .476 1.587 91.60723 .420 1.401 93.009 46
  • 7. International Journal of Management (IJM), ISSN 0976 – 6502(Print), ISSN 0976 – 6510(Online) Volume 2, Number 1, Dec - Jan (2011), © IAEME24 .373 1.243 94.25225 .347 1.157 95.40826 .319 1.065 96.47327 .302 1.008 97.48128 .276 .918 98.40029 .261 .869 99.26930 .219 .731 100.000 Extraction Method: Principal Component Analysis Source: Output from SPSS From the table above, it is observed that there were only seven factors having Eigen values exceeding 1. The Eigen values after rotation are 3.382, 2.555, 2.424, 2.235, 2.208, 1.902 and 1.863. The percent of the total variance which is used as an index to determine how well the factor analysis accounts for what the variable together represent is 55.228 percent. Table 5 Rotated Component Matrix Component 1 2 3 4 5 6 7 q7-1 .484 q7-2 .794 q7-3 .613 q7-4 .539 q7-5 .728 q7-6 .493 q7-7 .133 q7-8 .515 q7-9 .422 q7-10 .572 q7-11 .453 q7-12 .685 q7-13 .604 q7-14 .692 q7-15 .497 q7-16 .577 q7-17 .576 q7-18 .721 q7-19 .530 q7-20 .432 q7-21 .635 q7-22 .669 q7-23 .762 q7-24 .620 q7-25 .543 q7-26 .346 q7-27 .568 q7-28 .544 q7-29 .707 q7-30 .762 Extraction Method: Principal Component Analysis. Rotation Method: Varimax with Kaiser Normalization. a Rotation converged in 10 iterations. Source: Output from SPSS 47
  • 8. International Journal of Management (IJM), ISSN 0976 – 6502(Print), ISSN 0976 – 6510(Online)Volume 2, Number 1, Dec - Jan (2011), © IAEME The above table shows the variables under each of the seven derived factors.The first factor consists of eight variables, the second factor consists of five variables,the third factor consists of four variables, the fourth factor consists of four variables,the fifth variable consists of three variables, the sixth factor consists of three variablesand the seventh factor consists of three variables. Table 6 The name given to all the seven factors depending on the variables grouped together in factor analysis Factor Name given to the Factor Factor Statement Factor/Loading Trust worthiness .530 Personal touch .432 Past experience .635 I Bank personal behavior Attentiveness .669 Assurance .762 Reliability .620 Responsiveness .543 Preferential .346 Simplicity of operation .133 Convenient banking hours .422 II Bank feature Attractive product .453 Interest rate .577 Credit facilities .721 Treatment .568 III Advertisement .544 Promotional activities Courtesy .707 Flexible approach .762 Computerized services .484 IV Operational effectiveness Computerized services .484 Speed of operation .794 Operational effectiveness Responsiveness of staff .613 Flexible working hours .539 V Customer confrontation Flexible working time .728 Handling grievances .493 Convenient location .572 Demat facilities .604 VI External service quality Ambience .692 Bank image .497 Privacy .515 VII Bank accessibility ATM facilities .685 Number of branches .576Source: Computed Table using SPSS Factor analysis was employed to retain from a large set of variables a very fewset of factors. Orthogonal rotation with varimax was applied. The latent root criterionwas used for extraction of factors. Only factors with Eigen values greater than onewere considered significant. All the factors with Eigen values less than 1 areconsidered insignificant and disregarded There were seven factors with Eigen values exceeding one. The Eigen valuesafter the rotation are 3.382, 2.555, 2.424, 2.235, 2.208, 1.902 and 1.863. Thepercent of the total variance which is used as an index to determine how well the 48
  • 9. International Journal of Management (IJM), ISSN 0976 – 6502(Print), ISSN 0976 – 6510(Online)Volume 2, Number 1, Dec - Jan (2011), © IAEMEfactor analysis accounts for what the variable together represent is 55.228 percent.The first factor consists of eight variables, the second factor consists of five variables,the third factor consists of four variables, the fourth factor consists of four variables,the fifth variable consists of three variables, the sixth factor consists of three variablesand the seventh factor consists of three variables. The seven factors are named by theresearcher as bank personal behaviour, bank feature, promotional activities,operational effectiveness, customer confrontation, and external service quality andbank accessibility.7.0 SUGGESTION AND CONCLUSION7.1 Suggestion 1. Customer Relationship Manager In the course of the research study there is a constant switch over of 90 percent of the customers over a period of 3 to 5 years. The major factor for such switch over is the lack of satisfaction in the service delivery and personalized products/services that cater to the needs of the customer. Hence it is suggested to have a dedicated relationship manager to measure the satisfaction levels of the customer 2. Identify Customer Expectation Identifying expectations of the customers and meeting the expectations by suitable products/services is one of the key elements of relationship management. It is suggested through the research study that the identification of expectation can be identified from the customer’s perceived service quality delivery and the satisfaction level of the customers. 3. Personalized Product/Services It is suggested that, bankers may encourage suitable contribution of ideas towards innovative product and services from all concerned in the process of product/Services design and delivery system. Such an approach is suggested to be continuous in character. 4. Building Delivery Channels Hence it is suggested to build more functional delivery channels to reduce the complexity in delivering the products/services. Inspite of advancements in delivery channels like ATMs, Internet banking and mobile banking only few are gaining popularity among the customers. The retail banks need to create more awareness and increase the utilization level of the delivery channels. This will improve the service quality, reduces cost of providing the service, minimizes the delivery time and in building Eco friendly delivery system. 5. Crafting Complaint Resolution Mechanism(CCRM) In the research study the varying nature of customer complaints can be observed. The customers look for a system to express their complaints and get it resolved in time. It is observed from the study that it takes on an average, approximately three days to redress the grievance of a complaint which effects on the satisfaction level. Therefore it is suggested to craft a complaint resolution mechanism to bring a logical end to the issues thereby minimizing the customer complaint cycle. This will strengthen the relationship with the customer and build a reliability quotient in the operations. 6. Standard Processing Time(SPT) Generally the retail bank customer expects the service to be offered at the right time. In this context it is suggested that every service should be framed to a standard processing time and need to explicitly specify to the 49
  • 10. International Journal of Management (IJM), ISSN 0976 – 6502(Print), ISSN 0976 – 6510(Online)Volume 2, Number 1, Dec - Jan (2011), © IAEME customers. The employees need to follow the SPT and bring reliability in the system. 7. Improving Customer Interaction The interaction with customers is an essential input for effective customer relationship. Active interaction at periodic intervals would reveal the relationship status. It is therefore suggested that, bankers may come forward with appropriate and effective interaction mechanism. In this context, the researcher could observe that some banks have already initiated steps such as, appointment of relationship managers. Such approaches should further be activated aiming at total customer interaction leading to build up better relationship. 8. Customization of CRM Packages The results of the research study reveal that there appears to be lack of awareness with the bank employees as well as adoption of CRM packages available in the market. It is suggested that the successful implementation of CRM package can be achieved only if the bank can create the right environment, culture and attitude of the employee aiming to serve the customers in the best possible manner.7.2 CONCLUSION The study brings to light the various aspects relating to relationship building inretail Banking Industry. The variables identified are contributing towards relationshipbuilding and dissolution of relationship. It will definitely help bankers to evolveappropriate strategies towards relationship building. The study also found that there isa difference in the service quality perception of customers and bankers as regard toseveral aspects of relationship management. On this line of the study varioussuggestions towards improving Bank customer relationship by enhancing thedelivered service quality and the development of personnel involved in the deliverysystem which is coined as External and Internal service quality. The relationship models identified in the study would throw further light onstrategic decision pertaining to relationship building. An effective CRM programdesigned and executed will obviously provide a win-win platform to both the serviceproviders and the customers. It is hoped that this study is a humble contributiontowards achieving this goal.REFERENCE 1. Adolf, rueidger, Grant-thompson and Stacey (1997),’ what leading banks are learning about big database and marketing’. Mckinseyquarterly, 1997 no.3, p 187. 2. Agarwal H N (1979), A portrait of Nationalized Banks – A Study with Reference to their Social Obligations, Inter-India Publications, pp. 25-26,New Delhi. 3. Berry L L, Parasuram A and Zeithml V A et al. (1998),”The Service-Quality Puzzle”, Business Horizons, September-October, pp 35-43. 4. Berry, L.L. (1995), “Relationship Marketing of Services-Growing Interest, Emerging Perspectives”, Journal of the Academy of Marketing Science, Vol. 23, (4), pp.236-245 5. Carman, J.M. (1990), “Consumer perceptions of service quality: an assessment of the SERVQUAL dimensions”, Journal of Retailing, Vol. 66, pp. 35-55. 6. Chidambaram R M and Alamelu K (1996), “Service Marketing-Challenges and strategies”, SBI Monthly Review, p.303. 7. Christopher, M., Payne, A. and Ballantyne, D. (1991), Relationship Marketing, Butterworth- Heinemann, Oxford. 8. Dammert, A and Lasagabaster, E (2002), “Success and Failures in Bank Privitisation: Lessons from Argentina, Brazil, Latvia, Mexico, Mozambique, and Poland”, available at http://www.econwpa.wustl.edu 50
  • 11. International Journal of Management (IJM), ISSN 0976 – 6502(Print), ISSN 0976 – 6510(Online)Volume 2, Number 1, Dec - Jan (2011), © IAEME 9. Debasish, Sathya Swaroop (2003), “Service quality in Commercial Banks: A comparative Analysis of Selected Banks in Delhi”, Indian Journal of Marketing, Vol. 30, March. 10. Elias A H (!982), “Indian Banking Service”, Journal of Indian Institute of Bankers, Vol. 35, No. 3 11. Fisk, R.P., Brown, S.W. and Bitner, M.J. (1993), “Tracking the evolution of the services marketing literature”, Journal of Retailing, Vol. 69, pp. 61-103. 12. Ganesan, S. (1994), “Determinants of long-term orientation in buyer-seller relationships”, Journal of Marketing, Vol. 58, April, pp. 1-19. 13. Harker John Michael (1999), “Relationship Marketing Defined” An Examination of Current Marketing Definitions”, Market Intelligence and planning. 17/1,pp 13-20. 14. Indian Bank Association bulletin march 1997,p.125. 15. Jackson, B. (1985), “Building customer relationships that last”, Harvard Business Review, November-December, pp. 120-8 16. Khazesh K and Decker W H(1992), “How Customer Choose Banks”, Journal of Retail Banking,Vol.14. 17. Lehtinen, U and J R Lethinen (1991), “Two Approaches to Service Quality Dimesions”, The Service Industries Journal, Vol. 11,No. 3, pp 287-303. 18. Madhukar G A,Rajan N and Jahera J S Jr. Et al. (1999),” Service Quality in the Banking Industry: An Assessment in a Developing Economy”, International Journal of Bank Marketing,Vol 17, pp. 116-123 19. N.E., Brooks, R.W. and Little, V. (1997), “Towards a Paradigm Shift in Marketing? An Examination of Current Marketing Practices”, Journal of Marketing Management, Vol. 13, (5), pp.383-406 20. Oliver et al(1999) Is Relationship Marketing for everyone? European Journal of Marketing,Vol- 34,No-9/10,2000,pp 111-27. 21. Parasuraman A, Zeithaml V A and Berry L et al.(1988),”SERVQUAL:A Multiple- Item Scale for Measuring Consumer Perception of Service Quality”, Journal of Marketing 22. R.Adolf,S.Thompson,W.Harrington “What leading banks are learning of big databases and marketing”, The Mc Kinsey Quarterly,1997. 23. Sada, Asish., S.Chitale. Soniya,” Customer Relationship Management & The banking Industry” productivity , Vol. 42, No.1, April – June 2001. 24. Teas, R.K. (1994), “Expectations as a comparison standard in measuring service quality: an assessment of a reassessment”, Journal of Marketing, Vol. 58 No. 1, pp. 132-9. 25. Varughese A G (2005),” Retail Banking in India: A Paradigm Shift”, Professional Banker, ICFAI University Press. April. 26. Webster, F. (1992), “The Changing Role of Marketing in the Corporation”, Journal of Marketing, Vol. 56, October, pp.1-17 27. Zeithamal and Berry (1988),”Consumer perceptions of price, quality and Value: A means – end Model and Synthesis of Evidence” Journal of Marketing, Vol – 52, No – 3, July, pp 2-22. 51