Introduction
biggest management challenge in the new millennium of liberalization and globalization of the business sector is a service and maintain good relations with king-client. In the past, customers producers took it for granted because at that time the customers do not demanded nor were many alternative sources of supply or suppliers. Since he was a passive client, it dictated where the product was little commitment to customers. But today there is a radical shift. Characterized by changing the economic emancipation of the business environment, increased competition, consumer choice is high, enlightened client's demanding, more emphasis on the quality and value of the purchase.
All of these changes have made the transition from today's product marketing traditional to modern marketing. Modern marketing calls for more than product development, pricing, the promotion and make it accessible to the target clients. And calls for confidence-building, and the binding force and value-added relationship with customers to win their hearts. Marketing aims of a new era in the win customers than ever before, where companies greet customers, creating products that fit their needs, and work hard to develop the customer life time through the principles of customer satisfaction and approval and enthusiasm.
What is the customer relationship management (CRM)
called this process of the development of cooperation and collaboration between buyers and sellers CRM Customer relations management relationship soon called.
CRM aims to concentrate all regulatory activities in order to create and maintain customers. CRM is a new technology in the field of marketing, where marketing is trying to develop a long-term cooperation relationship with customers to develop and customers for life. CRM aims to make customer loyalty climbs the ladder.
focus on clients in the banking
intense competition becomes a way of doing business, it is the customer who calls fire to determine the nature of the products and services offered in the market. Customers become demanding, dominant and selective. In fact undergone the perceptions and expectations of customers change, with the availability of banking services to customers in the door steps through the help of technology.
aimmarketing customer service goals are important: the boom of the bank and customer satisfaction. Banks offer tangible services such as loan programs and interest rates and the types of accounts and services intangibles such as behavior and efficiency of workers, and the speed of transactions and ambiance. Banks may need to include approaches that focus on customer service or customer focus in five areas of the companies, such as the possibility of cash access, security of assets, and the transfer of funds, deferred payment and financial tips.
There are four strategies available to managers customer relations':
o to restore or save customers
o to attract new customers and potential
Q to create loyalty among existing customers and
O to sell up or provide services across.
the future of the banking business depends to a large extent on the ability of banks to develop a close relationship with customers. In order to develop close with clients in the banking sector has nothing to do with the focus on technological innovations directed that offer convenience to customers. And it offers customers today ATM services, and access to online banking and telephone banking services and credit cards. This bank has been elevated beyond time and space barriers.
Marketing Banking
marketing of banking services means organizing appropriate activities and programs to provide appropriate services for the right person in the right place, at the right time at the right price and with the right communication and promotion. Marketing of banking services to adopt the following unique characteristics
Q prejudice-they can not be seen or possessed physically, but it can be experienced only.
o their own production and consumption correlation occur at one time.
o change, they are highly variable depending on the merit of customers.
Q -onhm damage can not be stored.
GLOLBALISED scenario
"change" is a continuous process and the banking sector is no exception to this natural law. The change in the Indian banking industry is inevitable because of the implementation of financial sector reforms and policies in the country. The main objective of the financial sector reforms is to create an effective financial system, a diverse and competitive in the country. Indian banking industry has undergone tremendous transformation after the process of liberalization and globalization, which began in 1991. These changes have forced the Indian banking industry to adjust product mix to bring about rapid changes in the operation to remain competitive in a globalized environment.
competition from foreign and new private sector banks banks
and the entry of more and more foreign banks and new banks in the private sector, with a simple and nimble feet structure, better technology, market-oriented and cost-effective measures, competition intensified in the Indian banking industry. Financial institutions have also started to engage in the banking field. In recent years, the share of the business to the public sector banks decreased to a great extent. So there is no urgent need for the Indian banking industry to modify the marketing strategy to attract customers and to withstand the strong competition from foreign banks and new private sector banks.
technological advancement
advent of technology, both in terms of computers and communications drastically changed in the banking business methodology. In the banking sector, and technology has opened up new horizons, and this in turn has brought new possibilities to do the same work differently and in a more cost-effective. Technology helps to have 24 hours a banking day, seven days a week. Tele-banking, online banking and banking services through E opened up new business possibilities and opportunities that are here have remained undiscovered. All of these technological advances could pave the way for banking house rather than bank branches.
innovation
Another important force for change in the Indian banking sector is innovation. Innovative banks, active now-a-days, offering first-class service to customers. It plays a vital role not only as a provider of finance but also as a store of financial departments. As a result of this, new products such as commercial banking, investment funds, leasing and factoring, confiscation, and advisory services to companies and venture capital to emerge. These innovative services could increase revenues with effective measures in terms of cost.
skills development workers of the bank
to face new challenges, banks have to invent new ways to meet customer requirements. To help bank employees to get enough exposure to technology, and packages suitable related hardware and software applications in terms of their business are offering. Moreover, you can create a separate marketing wing in each bank for the marketing of banking services. It must be adequate training to keep up with the changing environment. In order to meet the challenges, and human resources management in the banks have to prepare plans and strategies appropriate workforce.
conclusion
recent trend of globalization and trade liberalization may raise serious problems for local banks. I paid the entry of new foreign banks and private sector banks with advanced knowledge base of automation in banking operations and marketing strategies of public sector banks into a tight corner. Potential customers have started moving towards foreign banks and private sector banks. To survive and succeed, banks must identify the areas of marketing and the development of adequate resources, to convert these resources into a healthy and effective services and distribution effectively meet the diverse tastes of the customers.
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