Research Methodology In Banking

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3. Methodology Following methodologies are used in determining the CRM services implemented in banking sector. 3.1 Research Strategy and Approach It is used only for explorative research. This type of research is done when problem is not clearly specified for understanding. It helps in checking the best research design, data collection procedure for better understanding of the problem. This type of research is based on reassessing of available data and records, discussions with customers, employee, managers and competitors. Through following reassessment and discussions one can come across solutions in clarifying problems that are not defined. • Research population and unit of analysis. • Quality research approach. • Key information techniques. 3.2 Data Collection Procedure This research is based on secondary and primary data collection. Secondary data is obtained by reviewing and assessing the literature records, data from books and websites. They give detail account of CRM services and customer satisfying approach used by banks as well as the external factors influencing the CRM services. Primary data is based on questionnaire based surveys that acts as research instruments to get feedback from bank employees. Questionnaires are designed in perfect way so that it can be easily understood by bank employees. Random sampling method is used for doing surveys. Fieldworkers distribute and receive completed questionnaire from the bank employees. Response received from SERVQUAL is used to check the feedback that customer give about five service elements i.e. Empathy, Tangibility, Responsiveness, Reliability and Assurance they receive from banks. Processing of data collected is do... ... middle of paper ... ...nd healthy relationship exists between employee and customer. The consumers should be given extra facilities that are exclusive to the particular bank so as to encourage them for using more banking facilities of that bank. 5.3 Scope of future work Most public sector banks have not yet implemented their CRM services in perfect way so as to make the bank hassle free and to guarantee satisfaction to customers. They still need improvement if they have to win over competitors regarding retention and to get profitability in the market. In today’s scenario the private banks are giving edge over competitors regarding the convenience provided to customers in handling their accounts and transactions so as to increase their customer lifetime value. So public sectors have to be more customer-centric and they need to introspect themselves in order to achieve their objectives.
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