Individual Learning

By doing this research analysis we came to know that the Customer Relationship is very
important in every aspect of business. No matter what a business is all about whether it is
manufacturing sector or service sector customer relationship is always important.

So in order to have good and fruitful relationships with customers companies are doing
various CRM activities to have a relationship with their customers. CRM tends to make a
loyal customer base and retain the customers. Customers also get the satisfaction when their
service provider have a good CRM.

SBI also has various CRM activities going on for their customers and it helps in customer
satisfaction and customer retention. From the research it can be seen that customer
satisfaction and CRM of SBI have a bivariate correlation of 0.468 which is on the lower side,
which states that SBI should improve the quality of their CRM activities. Their CRM has also
not helped much in customer retention.

Research also allowed to understand that customer retention and customer satisfaction is
directly dependent on the switching cost a customer pays. Switching cost in terms of going
from SBI to another bank for services. The switching cost is generally very low as now a
day's private banks are giving various services at a very low cost and also they have
customized their model according to the customers.