AN ANALYTICAL STUDY OF CRM AND ITS IMPACT ON CUSTOMER LOYALTY: AN EMPIRICAL STUDY ON PRIVATE BANKS IN ODISHA

The purpose of this paper was to determine the impact of customer relationship management on customer loyalty. The data was collected from the customers of three private sector banks- ICICI Bank, HDFC Bank and Axis Bank across the branches located at Bhubaneswar, Cuttack and Puri. The data was collected by using a structured questionnaire with a five point Likert scale. Statistical tools such as multiple regression and factor analysis were used for data analysis. The study shows that there is an impact on customer relationship management and customer loyalty. The study also noticed that banks words and promises are reliable and the bank is fulfilling its obligation towards the customers. It is also offering them valuable advice on how to invest is the predominant variable which has impact on customer loyalty. So the banking sector needs to focus more on these factors, thereby increasing customer loyalty. Hence the concept of CRM may be emphasized so that the customers are treated royally in relation to banking services. Thus the banks need to improve the customer satisfaction in the utilization of various modern banking services and should provide more customer friendly services to make the modern banking activity a delight for the customer