TABLE OF CONTENTS

CHAPTER NO TITLE PAGE NO

ABSTRACT I
LIST OF TABLES II
LIST OF CHARTS III
INTRODUCTION 1
1.1 Introduction 1
I 1.2 Industry profile 4
1.3 Company profile 11
1.4 Objectives of the study 13
1.5 Need of the study 13
1.6 Scope of the study 13
REVIEW OF LITERATURE 15
II 2.1 Review of literature 15
RESEARCH METHODOLOGY 23
3.1 Methodology 23
3.2 Research design 23
3.3 Sources of data 23
III 3.4 Sample size 23
3.5 Period of study 24
3.6 Hypothesis 24
3.7 Area of the study 25
3.8 Tools for analysis 25
DATA ANALYSIS AND INTERPRETATION 26
4.1 Percentage analysis 26
IV
4.2 One way Anova 48
4.3 Correlation 50
FINDINGS, SUGGESTIONS AND CONCLUSION 52
5.1 Findings 52
V 5.2 Suggestions 53
5.3 Limitations of the study 54
5.4 Conclusion 54
REFERENCES 55
ANNEXURE - I QUESTIONNAIRE 57
ANNEXURE – II RESEARCH ARTICLE 60
 ABSTRACT

Customer relationship management (CRM) is a widely implemented model for

managing a company’s interactions with customers, clients, and sales prospects. It
involves using technology to organize, automate, and synchronize business
processes—principally sales activities, but also those for marketing, customer
service, and technical support. The overall goals are to find, attract, and win new
clients; nurture and retain those the company already has; entice former clients back
into the fold; and reduce the costs of marketing and client service. Customer
relationship management describes a company-wide business strategy including
customer- interface departments as well as other departments. The primary
objective of this project is to conduct a study on customer relationship management
at Dr. Ethix Products and Services. The study can be carried through by getting the
feedback from the customers and compare those results with the expected results.
By studying and comparing the perception of the customers of Dr. Ethix Products
and Services we can get an effective relationship with the customers. It is
important that to maintain a strong relationship with customers. This will help Dr.
Ethix Products and Services to establish a reasonable share in the market place.

Keywords: Customer Satisfaction, Customer relations, CRM

 LIST OF TABLES

TABLE NO TITLE PAGE NO

4.1 Table no Age of the respondents 26

4.2 Table no Gender of the respondents 27

4.3 Table no Educational Qualification of the respondents 28

4.5 Table no Income of the respondents 29

4.6 Table no How long have you been associated with 30

Dr. Ethix products and Services
4.7 Table no Did you avail the same services from any other 31
company
4.9 Table no Compare and evaluate the services provided by 32
this company against Dr. Ethix products and services on
the following factors
4.10 Table no How important are the following attributes for 34
you in service delivery

4.11 Table no Do you have a concept of internal service 36

4.12 Tables no Please specify your agreement to the following 37

statements related to Dr. Ethix products and services.
4.13 Table no Did you encounter any problem during service 40
time
4.14 Table no How promptly was the problem resolved 41

4.15 Table no How do you rate the overall services of Dr. Ethix 42
products and services
4.16 Table no Did you ever suggest any changes to be made 43
in the level of service
4.17 Table no Did the company change according to your 44
needs
4.18 Table no Would you like to avail the services of Dr. Ethix 46
Products and services in future
4.19 Table no Do you have any suggestions for improving 47
theservices of Dr. Ethix products and services
 LIST OF CHARTS
CHART NO TITLE PAGE NO

4.1 Chart no Age of the respondents 26

4.2 Chart no Gender of the respondents 27

4.3 Chart no Educational Qualification of the respondents 28

4.5 Chart no Income of the respondents 29

4.6 Chart no How long have you been associated with Dr. 30
Ethix products and Services
4.7 Chart no Did you avail the same services from any other 31
company
4.9 Chart no Compare and evaluate the services provided 32
by this company against Dr. Ethix products and services
on the following factors
4.10 Chart no How important are the following attributes for 34
you in service delivery

4.11 Chart no Do you have a concept of internal service 36

4.12 Chart no Please specifies your agreement to the 37

following statements related to Dr. Ethix products and
services.
4.13 Chart no Did you encounter any problem during service 40
time
4.14 Chart no How promptly was the problem resolved 41

4.15 Chart no How do you rate the overall services of Dr. 42

Ethix products and services
4.16 Chart no Did you ever suggest any changes to be made 43
in the level of service
4.17 Chart no Did the company change according to your 44
needs
4.18 Chart no Would you like to avail the services of Dr. Ethix 46
Products and services in future
4.19 Chart no Do you have any suggestions for improving the 47
services of Dr. Ethix products and services
 CHAPTER - I
INTRODUCTION
1.1 INTRODUCTION

The biggest management challenge in the new millennium of liberalization

and globalization for a business is to serve and maintain good relationship with the
king – the customer. In the past producers took their customers for granted,
because at that time the customers were not demanding nor had alternative
source of supply or suppliers. But today there is a radical transformation. The
changing business environment is characterized by economic liberalization,
increasing competition, high consumer choice, demanding customer, more
emphasis on quality and value of purchase etc.

All these changes have made today’s producer shift from traditional
marketing to modern marketing. Modern marketing calls for more than developing a
product, pricing it, promoting it and making it accessible to target customer. It
demands building trust, a binding force and value added relationship with the
customers. The process of developing a cooperative and collaborative relationship
between the buyer and seller is called customer relationship management shortly
called CRM. The idea of CRM is to know the individual customer intimately, so that
the company has a customized product ready for him even before he asks for it.

Customer relationship management is a combination of people, processes

and technology that seeks to understand a company's customers. It is an integrated
approach to managing relationships by focusing on customer retention and
relationship development. CRM has evolved from advances in information
technology and organizational changes in customer-centric processes. Companies
that successfully implement CRM will reap the rewards in customer loyalty and long
run profitability. However, successful implementation is elusive to many companies,
mostly because they do not understand that CRM requires company-wide, cross-
functional, customer-focused business process re-engineering. Although a large

1
portion of CRM is technology, viewing CRM as a technology-only solution is likely
to fail. Managing a successful CRM implementation requires an integrated and
balanced approach to technology, process, and people.

1.1.1 WHY IS CURRENT DAY CUSTOMER RELATIONSHIP MANAGEMENT

NEEDED?
 In ten years, a happy customer will refer 100 additional people to the business.
 It costs 7 times more to attract a new customer than to serve an old one.
 The company's revenues are made up of 20% of its most devoted clients.
 There is a 1 in 2 probability of selling to an existing customer, and a 1 in 16
chance of selling to a new one.

1.1.2 BENEFITS OF CUSTOMER RELATIONSHIP MANAGEMENT

1. A CRM system includes historical views and analyses of all existing and
potential clients. This facilitates fewer searches, customer correlation, effective
customer foresight of demands, and growth of business.

2. In the CRM system, clients are divided into distinct groups based on their line of
work or geographical location and assigned to various customer managers, also
known as account managers. This aids in concentrating and focusing on every
single consumer independently..

3. A CRM system is helpful in attracting new clients as well as managing

relationships with current ones. The initial step in the process is to identify a client
and enter all the pertinent information into the CRM system, which is also known
as a "opportunity of business." The Sales and Field personnel then attempt to
generate business from these clients by deftly following up with them and
successfully closing a sale. An integrated CRM system can simply and
effectively handle all of this.

4. Customer Relationship Management's cost-effectiveness is one of its key

features. The benefit of a well-executed CRM system is that there is much less need
for paper work and physical labor, which means that there is less personnel
2
management and resource management required. When compared to the
conventional method of doing business, the technologies used to implement a CRM
system are also very affordable and easy to use.

5. All the details in CRM system is kept centralized which is available anytime on
fingertips. This reduces the process time and increases productivity.
6. Efficiently dealing with all the customers and providing them what they actually
need increases the customer satisfaction. This increases the chance of getting more
business which ultimately enhances turnover and profit.
7. If the customer is satisfied they will always be loyal to you and will remain in
business forever resulting in increasing customer base and ultimately enhancing
net growth of business.

1.1.3 HOW CAN CRM BE INTRODUCED INTO THE COMPANY?

There are four key steps for putting one to one marketing program to work:

Step 1: Determine your market

The organization needs to be able to identify and get in touch with a decent
amount of customers, or at the very least a significant fraction of its valuable clients,
in order to start a one-to-one programme. Not simply their names and addresses,
but also their habits, tastes, and other information, must be known as much as
possible about the client.

Step 2: Creating consumer differentiation

Customers differ primarily in two ways: they represent varying degrees of

value and have various wants. When a corporation has identified its customers,
differentiating them will enable it to concentrate its efforts on acquiring the most
advantageous.

Step 3: Interacting with the customer

Interaction is also a crucial component of a successful CRM initiative. It is

important to remember that interaction just not occur through marketing and sales
3
1.4 OBJECTIVES OF THE STUDY:

PRIMARY OBJECTIVE:

To Study the Customer Relationship Management Practices of Dr. Ethix Products

and Services.

SECONDARY OBJECTIVES:

1. To ascertain client opinions regarding the complaints handling at Dr. Ethix

products and services.
2. To ascertain the customers satisfaction with Dr. Ethix Products and Services as
their future intent to use Dr. Ethix Products and Services.
3. To study the factors affecting the CRM practices.

1.5 NEED FOR THE STUDY:

1. To understand the customer expectations.

2. To improve the overall customer satisfaction.
3. To improve the business relationship.
4. To understand the customer intention towards availing Dr. Ethix Products and
Services in future.

1.6 SCOPE OF THE STUDY:

The service industry forms a backbone of social and economic development of

a region. It has emerged as the largest and fastest-growing sectors in the world
economy, making higher contributions to the global output and employment. Its
growth rate has been higher than that of agriculture and manufacturing sectors. It is
a large and most dynamic part of the Indian economy both in terms of employment
potential and contribution to national income. It covers a wide range of activities,
such as trading, transportation and communication, financial, real estate and
business services, as well as community, social and personal services.

13
 The service sector is receiving much deserved attention resulting from its
inevitable role in a country’s economic development. It is mainly focusing on
developing inbound relationship with customer, which helps in terms of retaining the
customer because service is an ―intangible good‖ which include attention advice,
experience and discussion. With increased globalization, competition, higher
customer turnover, growing customer acquisition cost and rising customer
expectations in today’s competitive world, CRM has become an important tool for
several service providers in order to retain their customers for long period.
Researchers found that developing a CRM strategy with the help of IT, one-to-one
marketing, and producing customized products would be a life saver for services
industry. This study opens up the relationship between the customers and the
management. From the study organization can develop better CRM policies with
theircustomers.

14
 CHAPTER - II

REVIEW OF LITERATURE

2.1 REVIEW OF LITERATURE

Vidya and Shanthi (2021) in their research investigated the performance of E-CRM
of public sector banks of Chennai city, India. To meet this objective, the data was
collected from 150 respondents using convenience sampling technique and was
analyzed using frequency distribution, ANOVA, correlation and multiple regression
analysis. The results revealed that the most influential factor that determines the
performance of E-CRM in banks was information trust. The authors concluded that
the banks should offer the right and up-to-date information to their customers and
should provide reliable and safe services and measures to their customers.
Furthermore, the authors also revealed that the banks should invest more in the E-
CRM system to provide products and services that meet best to the needs and
desires of the customers.

Khanh et al., (2021) in their research studied the impact of organizational factors on
the successful implementation of E-CRM in the context of airlines industry of
Vietnam. The data was gathered from 241 respondents who were working in
Vietnamese airlines and was analyzed using correlation and SEM. The results
revealed that organizational factors had a positive impact on E-CRM success.
Also, the indirect effects of organizational factors on E-CRM success through
customer orientation, CRM strategy, data quality and knowledge management were
analyzed. The findings revealed that customer orientation was the most influential
factor on E-CRM success followed by knowledge management and technology.
Furthermore, CRM strategy and data quality have an indirect effect on E-CRM
success. The authors concluded that there was a need for the marketer to stress
more focus on activities pertaining to customer orientation and also airlines industry
to provide equal attention to both organizational factors and customer orientation
activities and strategies.

15
Kampani and Jhamb (2020) conducted a review of literature to explore the role of E-
CRM in establishing and maintaining the relationship with the customers and to
find out various customer relationship strategies and applications that have been
conducted in the past in the context of e-commerce industry. The authors found that
E-CRM in reference to e-commerce industry provides various benefits such as
reduced costs, generating more profits, improvement of value chain efficiencies,
establishing brands and enhancing customer relationships. The e-commerce industry
with the help of E-CRM has made it possible to communicate with their customers
through various multi-channels such as e-mails, fax, website or any other web
technologies, which helped them to enhance their customer base by offering more
personalized products/ services, more convenience and establishing long-term
customer relationships. The authors through the review of literature also found
important dimensions of E-CRM such as trust, information quality, productvariations,
website design, security, payment systems, ability of transactions, response,
delivery, customer service and ease of use for maintaining and establishing online
customer satisfaction and online customer loyalty. In addition, the authors highlighted
the various E-CRM applications such as chatbots, internet surveys, product-related
discussion groups, e-mail, online surveys, virtual customer i.e. online handling
customers, interactive voice response (IVR), voice-over-internet protocol (VOIP), self-
service technologies, etc., through which companies can serve their customers well.

Abdi et al., (2020) undertook a research to examine the effects of E-CRM on service
attributes and quality of customer-bank relationships of Tehran city, Iran. The authors
proposed a model outlining E-CRM as independent variable, service attributes
(measured by information, customer convenience and communication) as mediating
variable and quality of customer-bank relationship (measured by trust, overall
relationship quality, satisfaction, loyalty, commitment and advising to others) as
dependent variable. The data was collected from 485 respondents using stratified
random sampling technique and was analyzed using ANOVA, least significant
difference (LSD) and SEM-AMOS. ANOVA was used to examine the impact of

16
education on E-CRM, service attributes and quality of customer-bank relationship and
found that education played a significant positive role in these three variables. LSD
was used to examine which level of education has the highest effect on these
variables and found that higher education level persons were found to have more
knowledge and a better understanding of these three variables than others. SEM-
AMOS was used to examine the relationship between E-CRM, service attributes and
quality of customer-bank relationship and found that E-CRM had a significant
positive impact on service attributes and quality of customer-bank relationship and
also service attributes mediated the relationship between E-CRM and quality of
customer-bank relationship.

Sharma (2019) drawn out an exploratory research to study the factors that affect E-
CRM in Indian banks in the context of public and private sector banks. The data was
collected using simple random sampling from 363 customers from Delhi/ NCR (India)
and was analyzed using independent t-test, EFA, confirmatory factor analysis (CFA)
and SEM-AMOS. From the results of EFA, six factors emerged mainly E-CRM core
services, quality service, website quality and security, customer satisfaction,
corporate strategy, and trustworthiness. The results of CFA confirmed the validity of
the six factors and SEM-AMOS was conducted to analyze the result and found that
E-CRM contributed towards all the six factors mainly towards website quality and
security followed by customer satisfaction, E-CRM core services, corporate strategy,
quality service and trustworthiness. The findings also revealed that the customers of
private sector banks were more satisfied than public sector banks and the public
sector banks were considered more trustworthy than the private sector banks.

Kumar and Shome (2019) in a study found that both the Public and Private Sector
Banks managers showed more similarities than differences on the 18 dimensions of
Customer Relationship Management (CRM) like Adaptation, Trust , Commitment,
Communication Channels, Conflict Resolution, Citizenship Behavior, Past
Satisfaction, Customer contact by phone/e-mail, Complaint /Grievance Handling,
Customer Care, Responsiveness, Planning, Improved retention and better targeting

17
of new customers, Top Management Support, Knowledge Management Capabilities,
Innovation and Quality, Technological Readiness, Employees„ feedback/attitude
towards CRM in Bihar. Therefore, there is a highly positive and significant
relationship among them which shows a positive sign for any organization that helps
the organization to maintain a better work environment and relationship among
colleague which leads the organization to maintain better relationship with the
customers.

P and Sivakumar (2019) carried out a study to develop a theoretical model to

examine the relationship between customer experience, business and financial
performance in the context of the banking industry of India. The authors proposed a
model depicting customer experience (measured by benefits, accessibility,
convenience, incentive, utility and trust) as independent variable; customer
satisfaction, customer loyalty and profitability as dependent variables. In this study,
the authors basically proposed prepositions to understand cause and effect
relationships between the customer experience, business and financial performance
of the Indian banking industry. The authors suggested that if this theoretical model is
tested for hypothesis, then it would be revealed as customer experience leads to
customer satisfaction, which further leads to customer loyalty and then ultimately
increases the profitability of the bank.

Zaki et al., (2019) in their research investigated the factors that affect customer
experience in the context of the e-commerce industry of Lahore, Pakistan. The
factors studied in this research were product quality, application safety, guaranteed
delivery and offers. The data was gathered from 180 customers using purposive
random sampling technique, who were having experience of online shopping in
Lahore. The data was analyzed using multiple regression analysis and the results
revealed that all the aforesaid five factors influenced the comfort as well as the
satisfaction level of the customers. The authors also recommended that if the
marketers focus on these factors, they will be able to generate positive customer

18
experience in the minds of the customers. The authors further concluded that by
reducing financial and delivery risks, offering good quality products and resolving
security issues, the companies will be able to endorse memorable customer
experiences.

Jadhav (2018) study reveals that CRM practices in banking sector in

Maharashtra State, study covers comparison of customers belonging to different
banks (SBI, BOM, PNB, HDFC, and ICICI) with respect to their customer
centricity scores by applying the Tukey's multiple post hoc procedures and the
results are presented. Study found that customers belonging to SBI have rated
the processes of their bank to be more customer centricity as compared to that of
BOM.

Sujatha and Patel (2018) study focused and found that CRM in banking sector
is still not used widely though it is becoming the need of the hour that the
Banks should provide this vital service which is mandatory to its valuable
Customers. Customer Life Time value (CLV) and Customer Delight is improved by
adopting and enriching the customer relationship building approaches which the
Banking Sector should work on it.

Ashok Kumar et. al., (2017) examined the importance of CRM in banking sector
and its impact on the customer satisfaction with a reference to public sector bank
and private sector bank in virudhunagar district. The objective of the study was to
analyze the perception of customer on CRM as a tool of banking sector in
retention of customers. The study was comparative and analytical one through
the perceptions of the customers of the selected banks. Primary data were collected
through a well- structured qualitative questionnaire from the selected banks.
Questionnaire with 21 statements was adapted. The study found that only few
customers recognize that there was a change in marketing approach of Banks
due to changing business environment. Few customers have recognized that CRM is

19
ubiquitous throughout all levels of banks, and the majority of customers are
unsure that CRM is focused in a certain department.

Babu (2017) study found that e-CRM have decreased the work load on the
branches, decrease administrative cost, increase cross selling, bank revenues
and enable the bankers to analyze the customers‟ needs by having access to all
past transactions. An attempt is made to analyze the concept of e-CRM in Indian
banks from its various dimensions covering specifically its need, process, present
status and future prospects.

Rahimi and Kozak (2017) observed that customer relationship management is the
way to reduce the cost, increase the company performance and quality which means
profitability result through customer’s loyalty. In general, there are three core phases
of banks customers„ achievement, customers„ enhancement, and customers„
recovery. The achievement phase describes the initiation of a customer and bank
manager’s relationship.

Abhishek and Cristina (2016) Authors examined the dynamics of the CSR
conceptual development, sketching out the main contextual drivers leading to
CSR policy importance in developed/developing countries; The analysis was
supported by a comparative multiple case study analysis, on three leading public
banks. The banking sector is still at the initial stage of integrating CSR policies in
their regulations. The findings reveal increasing attention among the banks
towards the adoption of social banking regulations. There was empirical evidence
showing that the newly CSR core values and guidelines at international level
have often had little effect on CSR practice in the banking sector at the country
level. The research showsthat it is important to look at the CSR evolution through
an integrated model of analysis, based on conceptual and empirical evidence. It
pointed out an integrated model of analysis of the banking sector through the lens
of comparative case studies.
20
Divya and Agrawal (2016) identified the traditional practices in the modern
banking system (MBS) and examine the effects of these on employee response,
customer reactions and customer loyalty, in the context of public sector banks in
India. The study also investigates the effects on customers of employees‟ use of
traditional banking practices in the MBS. A total of 460 usable responses were
gathered from customers of seven public sector banks in Bhopal (MP), India. The
study scales were refined and validated by exploratory factor analysis and
confirmatory factor analysis. The results indicated that the MBS utilizing
traditional practices (MBSTP) significantly influences unfavorable employee
responses, customer reactions and loyalty. In addition, employee responses in
MBSTP motivate and generate unfavorable reactions of customers, which further
influence their loyalty adversely towards public sector banks.

Makandar (2015) study explore that ICICI has transformed itself into a
technology intensive financial services group in the last decade. To achieve its
long term goals of being in a position to practice one to one marketing. ICICI has
taken a series of initiatives. In online banking face to face interaction between
bank and customer is not seen. This create huge service gap for banks how to
serve and maintain customer relation in online environment. The paper discusses
how banks use ―Electronics Customers Relationship Management‖ tool to
maintain customer relations by using the internet and what benefits are derived
byusing E-CRM tool.

Mahaswar and Sweta (2015) analyzed the customer relationship management in

banking sector as a strategic tool. The objective of the study was to analyse
weather banks were implementing the concept of CMR & evaluate the service
quality offered by Axis Bank Bhubaneswar. The study adopted primary data of
axis bank respondents. The study identified that the satisfaction with service and
time spend to get the work done and grievance redresses service were satisfied

21
with the services offered by the different branches of the bank. The study
concludes that CRM has helped in establishing customer relationship with clients
and long way in developing a lifelong relationship.

Partha et, al. (2014) study attempt is made to clear the benefits of Customer
Relationship Management. These results were discussed and analyzed to get
results about how far CRM is implemented to secure competitive advantage. A
set of recommendations will be made so as to pinpoint how CRM can be used to
secure competitiveness. The present level of MIS covers, information needed for
control, performance monitoring, decision making. The purpose of this research
is to study the comparative use of CRM in various private sector banks. Customer
Relationship Management is an approach to identify the tastes and preferences of
individual, every customer is viewed with his life time value, and not only for
customer satisfaction but customer retention is also more important.

Rajpurohit and Surana (2014) researcher studied that Customer relationship

management (CRM) is no more an option, choice or an alternative for the
organizations directly engaging with the customers. Customers are vital for
banking activities, with chameleon like characteristics of customers it hard to
please them. CRM is not just technological incentives, but an overall philosophy
to shape the organizations from product centric to customer centric. It helps in
generating maximized customer lifecycle value. This paper attempt to study the
customer satisfaction of saving account holders with reference to the CRM
dimensions employed by public and private sector banks.

22