DESING OF THE STUDY

Objectives
 To study customer relationship management of UCO BANK
 To find general working of bank and how staff members response to customer.

Limitations
 The project is only limited to the study of CRM of two banks.
 CRM of other banks are not disclosed.
 CRM strategies of banks are not compared with each other.

Scope
 The project begins with a brief mention of what CRM is and its need and
importance in banks. It further goes on to show the CRM strategy of UCO BANK.
 Introduction

CRM, or Customer Relationship Management, is a company-wide business strategy

designed to reduce costs and increase profitability by solidifying customer loyalty. True
CRM brings together information from all data sources within an organization (and where
appropriate, from outside the organization) to give one, holistic view of each customer in
real time. This allows customer facing employees in such areas as sales, customer support,
and marketing to make quick yet informed decisions on everything from cross-selling and
up-selling opportunities to target marketing strategies to competitive positioning tactics.
Once thought of as a type of software, CRM has evolved into a customer-centric
philosophy that must permeate an entire organization. There are three key elements to a
successful CRM initiative: people, process, and technology. The people throughout a
company-from the CEO to each and every customer service rep-need to buy in to and
support CRM. A company's business processes must be reengineered to bolster its CRM
initiative, often from the view of, how can this process better serve the customer? Firms
must select the right technology to drive these improved processes, provide the best data to
the employees, and be easy enough to operate that users won't balk. If one of these three
foundations is not sound, the entire CRM structure will crumble.

It's a strategy used to learn more about customers' needs and behaviors in order to develop
stronger relationships with them. After all, good customer relationships are at the heart of
business success. There are many technological

A component to CRM, but thinking about CRM in primarily technological terms is a

mistake. The more useful way to think about CRM is as a process that will help bring
together lots of pieces of information about customers, sales, marketing effectiveness,
responsiveness and market trends. If customer relationships are the heart of business
success, then CRM is the valve the pumps a company's life blood. As such, CRM is best
suited to help businesses use people, processes, and technology to gain insight into the
behavior and value of customers.

Defining CRM
Customer Relationship Marketing is a practice that encompasses all marketing activities
directed toward establishing, developing, and maintaining successful customer
relationships. The focus of relationship marketing is on developing long-term relationships
and improving corporate performance through customer loyalty and customer retention.
Customer Relationship Management (CRM) as the name suggests, the primary focal point
is placed on the customer. The key objective is to increase customer value over time by
increasing customer loyalty. If a company develops better customer relationships, it also
improves business processes as well as its profits. In general, CRM is a more efficient
automated method used to connect and improve all areas of business to focus on creating
strong customer relationships. All forces are coupled together to save, improve, and
acquire greater business to customer relationships. The most common areas of business
that are positively affected include marketing, sales, and customer service strategies.

CRM helps create time efficiency and savings on both sides of the business spectrum.
Through correct implementation and use of CRM solutions, companies gain a better
understanding of their strongest and weakest areas and how they can improve upon these.
Therefore, customers gain better products and services from their businesses of choice. In
order to achieve better insight on CRM, it is essential to consider all of its components.

CRM- Meaning
Customer relationship management (CRM) is a business strategy that spans your entire
organization from front office to back-office. It is a commitment you make to put
customers at the heart of your enterprise. The right CRM strategy and solutions can help
you securely, reliably and consistently delight your customers every time they interact with
your business by empowering them with anytime, anywhere, and any channel access to
accurate information and more personalized service. Reach more customers more
effectively, increase customer retention and boost customer loyalty by leveraging
opportunities to up-sell and cross-sell and driving repeat business at lower cost Drive
improvements in business performance by providing your customers with the ability to
access more information through self-service and assisted-service capabilities when it is
convenient for them. Enable virtualization in your enterprise as more of your people and
resources extend beyond your offices and around the world Balance sophisticated
functionality with rapid implementation and effective support for a faster return on your
CRM investment. Today’s customers face a growing range of choices in the products and
services they can buy. They base their choices on their perception of quality, value, and
service. Each Consumer has a specific behaviour. But buying habits are sometimes
difficult to understand. Therefore companies always want to gain some insight about
consumer behaviour and habits in order to better control this behaviour. Having an impact
on consumer behaviour means being able to change consumer’s perception of the product
or service, to establish a relation between the company and its clients.
THE EMERGENCE OF CRM:

The developing customer relationship management has historical antecedents going back
into the pre-industrial era. In the recent years however several factors have contributed to
the rapid development and evolution of CRM. These include the growing de-
intermediation process in many industries due to the advent of sophisticated computer and
telecommunication technologies that allow producers to directly interact with the end
customers.

The recent success of On-line banking, Charles Schwab and Merrill Lynch’s On-line
investment programs, direct selling of books, automobiles, insurance etc. on the internet all
at least to the growing consumer interest in maintaining direct relationship with marketers.
The de-intermediation process and consequent prevalence of Customer Relationship
Management is also due to the growth of the service economy.

Another force driving the adoption of customer relationship management has been the total
quality movement. When companies embraced Total Quality Movement philosophy to
improve quality and reduce cost, it become necessary to involve suppliers and customers in
implementing the program at all levels of the value chain. This needed close working
relationships with customers, suppliers and other members of the marketing infrastructure.
Other programs such as Just in Time and Material resource planning also made the use of
interdependent relationships between suppliers and customers.

Similarly in the current era of hype-competition, marketers are forced to be more

concerned with customer retention loyalty. As several studies indicated, retaining customer
is less expensive and perhaps a more sustainable competitive advantage than acquiring new
ones. Marketers are realizing that it costs less to retain customers than to compete for new
ones. Today many large internationally oriented companies are trying to become global by
integrating their worldwide operation. To achieve this they are seeking cooperative and
collaborative solutions for global operations from their vendors instead of merely engaging
in transactional activities with them. Such customers need make it imperative for marketers
interested in the business of companies who are global to adopt Customer relationship
management programs, particularly global account management programs. Global account
management is conceptually similar to national account management programs except that
they have to be global in scope and this they are more complex. Managing customer
relationship around the world calls for external and internal partnering activities, including
partnering across firms worldwide organizations.
CHAPTER-2
INDUSTRY PROFILE AND COMPANY PROFILE
BANKING INTRODUCTION:
Now a days, banking sector acts as the back bone of modern business. Development of any
country mainly depends upon the banking system.

The term bank is either derived from Old Italian word “Banca” or from a French word “Banque”
both mean a bench or money exchange table.

In olden days, European money lenders or money changers used to display (show) coins of
different countries in big heaps (quantity) on benches or tables for the purpose of lending or
exchanging.

A bank is a financial institution which deals with deposits and advances and other related
services. It receives money from those who want to save in the form of deposits and it lends
money to those who need it.

BANKING IN INDIA:
 In the modern sense, originated in the last decades of the 18thcentury. Among the first were the
Banks of Hindustan, which was established in 1770 and liquidated in 1829-32; and the General
Bank of India, established in 1786 but failed in 1791.
The largest bank and the oldest still in existence, is the State Bank of India (SBI). It originated
as the Bank of Calcutta in June 1806. In 1809 it was renamed as the Bank of Bengal. This was
one of the three banks founded by the presidency government; the two were Bank of Bombay
and the