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Abstract
Post the PNB scam of Neerav Modi, the PNB lost its shine up to large extent among the customers. So it becomes apperent to study the customer satisfaction level in the PNB and to compare it with ICICI banks. Punjab National Bank (PNB) was nationalized in July. More than 50 renowned international banks maintain their Rupee Accounts with PNB. At the broadest level, the function of an enterprise’s activities is to bring buyer and sellers together to create customer relationship. While getting customers is fundamental to business success, retaining customers is more important. Successful firms work to build long-term relationships with their customers. A principal theme of customer relationship management is that customers who receive more than they expects from an organization are proved to be satisfied. A satisfied customer who develop a history of positive interactions and wants to purchase the same product or a related item will return to the organization that has treated them well in the past. As firms strive to treat to customers in a manner that encourages repeat sales, they maximize lifetime value of the customer relationship. Successful firms know that their customers who purchase promises of satisfaction prefer to do business repeatedly with people and organization they trust. They know that establishing relationship with customers can increase long-run sales and reduce marketing costs. It is the marketer’s job to use the resources of the entire organization to create, interpret, and maintain the relationship with the customer. Relationship management addresses the heart of marketing and its desire to profitability as to meet the lifetime needs of the customers better than the competitors. At a tactical level, when inappropriately applied, relationship management uses information technology to spawn short-term loyalty schemes that are often opportunistic and may create loyalty to the incentive. Thus, it is important to understand both the philosophy and the tactics of customer relationship management.