A STUDY OF THE IMPACT OF ELECTRONIC CUSTOMER RELATIONSHIP MANAGEMENT ON CUSTOMER LOYALTY BY USING STRUCTURAL EQUATION MODELING IN BANKING SECTOR
Keywords:
loyalty, customer relation management, e-CRM, , banking sector, bankAbstract
Customer Relationship Management (CRM) has changed the approach of traditional and conventional way of marketing. One of the several issues addressed by CRM has been identification retention of profitable customers with an objective to translate short-term retention in to a long-term loyalty. Customer loyalty, a diminishing phenomenon in this fiercely competitive market, is considered to be a critical success factor for firm profitability and long term sustainability. The integration of technology with the core processes of CRM has upgraded the concept to electronic CRM or e-CRM. Electronic CRM has ensured the process of de-intermediation in service delivery, thereby providing the customers new and advanced channels to interact with firms. Service firms, who are constrained by intangibility and heterogeneity factors, have reduced the non-monitory cost component to a considerable extent and enabled the customers to perceive service quality in a better way. This study attempts to understand the impact of electronic CRM, which is a relatively novel application in Indian market, on the banking sector
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