A Study on Implementing Customer Behaviour in Idbi Bank. essay help online Communication Strategies online class help

SRM UNIVERSITY (Under section 3 of UGC Act 1956) A STUDY ON IMPLEMENTING CUSTOMER RELATIONSHIP MARKETING IN IDBI A project report submitted in partial fulfillment of the Degree of master of business administration Submitted by MOHAMED DHASHNEEM. J 3511010035 Under the guidance of Asst. Prof. Mrs Chithra SRM SCHOOL OF MANAGEMENT FACULTY OF ENGINEERING AND TECHNOLOGY KATTANKULATHUR – 603203 CONTENT CHAPTERS| PARTICULARS| PAGE NO| | LIST OF TABLES| i| | LIST OF FIGURES| ii| | ABSTRACT| iii| 1| INTRODUCTION| 1| 2| A FRAMEWORK FOR CUSRTOMER RELATIONSHIP MARKETING 2. Creating a customer database 2. 2 Analysing the data 2. 3 Customer selection 2. 4 Target the customers 2. 5 Relationship programs 2. 6 Customer services| 4567889| 3| REALIONSHIP MARKETING STRATEGIES 3. 1 Core Service Strategy 3. 2 Relationship Customization 3. 3 Service Augmentation 3. 4 Relationship Pricing 3. 5 Internal Marketing | 111212131415| 4| “CRM THE NEW FACE OF MARKETING” IN THE BANK IN SECTOR| 17| 5| IMPLEMENTING CRM IN IDBI BANKS 5. 1 Bank History 5. Steps taken by Bank for increasing CRM i. Offering Vs. CustomerClassification ii. Sticking to Exiting Clients iii. How to Retain a Customer iv. Information needed for an Effective CRM Solution 5. 3 Need of the study 5. 4 Research objectives| 2123232425252728| 6| COMPEARTIVE STUDY OF BANK’s PROFILES 6. 1 HDFC Bank 6. 2 ICICI Bank 6. 3 Punjab National Bank| 29303133| 7| REVIEW OF LITERATURE| 36| 8| DATA COLLECTION METHOD 8. 1 Research approach 8. 2 Sampling plan 8. Limitation of the study| 39404042| 9| DATA ANALYSIS AND INTERPRETATION | 43| 10| FINDING ,RECOMMEDATION AND CONCLUTION| 63| 11| BIBLIOGRAPHY| 568| 12| QUESTIONAIRE| 70| LIST OF TABLE TABLE NO| PARTICULARS| PAGE NO| 9. 1| Age wise distribution of respondents| 36| 9. 2| Occupation wise distribution of Respondents| 37| 9. 3| Qualification wise distribution of respondents| 38| 9. 4| Income wise distribution of Respondents| 39| 9. 5| No. Of customers in various Banks | 40| 9. 6| Length of relation (%age)| 41| 9. 7| Service Accessed by Respondent (%age)| 42| . 8| Rating of the services (weighted Average)| 44| 9. 9| General  Environment Of The Banks (weighted Average) | 45| 9. 10| Total time taken for transactions of HDFC Bank (% age)| 46| 9. 11| Total time taken for transactions of ICICI Bank (%age) | 47| 9. 12| Total time taken for transaction of PNB (%age) | 48| 9. 13| Response regarding the problems (%age)  | 49| 9. 14| Problems as faced by the respondents | 50| 9. 15| Percentage of Respondents going for each scale for banks (%age)| 51| 9. 16| Suggestions given by Respondents (%age)| 52| LIST OF FIGURES

Fig. NO| PARTICULARS| PAGE NO| 9. 1| Age wise distribution of respondents| 36| 9. 2| Occupation wise distribution of Respondents| 37| 9. 3| Qualification wise distribution of respondents| 38| 9. 4| Income wise distribution of Respondents| 39| 9. 5| No. Of customers in various Banks | 40| 9. 6| Length of relation (%age)| 41| 9. 7| Service Accessed by Respondent (%age)| 42| 9. 8| Rating of the services (weighted Average)| 44| 9. 9| General  Environment Of The Banks (weighted Average) | 45| 9. 10| Total time taken for transactions of HDFC Bank (% age)| 46| 9. 1| Total time taken for transactions of ICICI Bank (%age) | 47| 9. 12| Total time taken for transaction of PNB (%age) | 48| 9. 13| Response regarding the problems (%age)  | 49| 9. 14| Problems as faced by the respondents | 50| 9. 15| Percentage of Respondents going for each scale for banks (%age)| 51| 9. 16| Suggestions given by Respondents (%age)| 52| CHAPTER 1 INTRODUCTION 1. INTRUDUCTION MEANING OF CRM The need to better understand customer behavior and the interest of many managers to focus on those customers who can deliver long-term profits has changed now marketers view the world.

Traditionally marketers have been trained to acquire customers, either new ones who have not bought the product before or those who are currently competitors Customers. This has required heavy doses of mass advertising and price-oriented promotions to customers and channel member. Today, particularly for the company’s “best” customers the tone of the conversation has changed form customer acquisition to retention. This requires a different mind set and a different and new set of tools. A good thought experiment for an executive audience is to ask them how activities.

While it is difficult to an executive versus retention activities from each other the answer is usually that acquisition dominates retention. CRM is neither a product nor a service, But a business strategy to learn more and mare about the customers’ behavior them. In other words, CRM is a comprehensive approach that provides seamless integration of every aspect of bank’s business that come in contact with the customer at various stages such as marketing, service delivery after –sales –service etc. through the integration of people, process and technology.

It is a comprehensive strategy and process of acquiring, retaining and partnering with selective customers to create supervisor value for the bank and its customers. The concept of customers relationship marketing (CRM) has stemmed up from this very problem of traditional marketing. CRM recognizes the concern for both traditional function of marketing and its scope with a goal of developing a cross functional, coordinated focus on customers that is to reorient the entire business to face the market.

The focus of marketing has changed from acquiring new customers to retaining old ones. This requires a different mindset and a different and a new set of tools. A good thought experiments for an executive audience is to ask them how much they spend or focus on acquisition versus retention activities. While it is difficult to perfectly distinguish the two activities from each other, the answer is usually, that acquisition dominates retention. The following table suggests the evolution of Customers Relationship Marketing: Table

Period| Focus Area| 1950’s 1960’s1970’s 1980’s1990’s| Customer Good Marketing Industrial Goods MarketingMarketing of Non-Profit Organization or SocietalMarketing Services MarketingCustomers Relations Marketing | In 1990’s the concept of Relationship Marketing has emerged strongly and the focus has been changed from Transaction Marketing to Relationship Marketing as shown below: Transaction Marketing to Relationship Marketing Transaction Marketing    | Relationship Marketing| Focus on Single sale| Focus on customers retention|

Orientation on product features| Orientation on product benefits| Short timescale         | long timescale  | Little emphasis on Customers Service | High customer service emphasis| Limited customer commitment      | High customer commitment   | Moderate customer contract       | High customers contact| Quality is primarily a concern of production| Quality in concern for all| CHAPTER 2 A FRAMEWORK FOR CUSRTOMER RELATIONSHIP MARKETING 2. A FRAMEWORK FOR CUSRTOMER RELATIONSHIP MARKETING A problem is that CRM means different things to different people.

For some, CRM means direct e-mails. For others, it is mass customization or developing products that fit individual customers needs. For IT consultant, CRM translate into complicated technical jargon related to terms such as OLAP (on line analytical processing) and CICs (customer interaction centers). What do managers need to know about their customers and how is that information used to develop a complete CRM perspective? It is explained with the help of following procedure: i. Create a Database ii. Analysis iii. Customer Selection iv. Customer Targeting v.

Relationship Marketing vi. Privacy Issues Metrics * A database of customer activity. * Analysis of the database. * Given the analysis, decision about which customers to target. * Tools for targeting the customers. * How to build relationship with the targeted customers. * Privacy issues * Metrics for measuring the success of the CRM Programme. 2. 1 CREATING A CUSTOMER DATBASE A necessary first step to a complete CRM solution is the construction of a customer database or information file. This is the foundation for any customer relationship marketing activity.

For web-based businesses, construction of a database should be a relatively straightforward task as the customer transaction and contact information is accumulated as a natural part of the interaction with customers. For exiting companies that have not previously collected much customer contract data form internal involve seeking historical customer contract data form internal sources such as accounting and customer service. Ideally the database should contain information about the following:  a. Transaction – This should include a complete purchase history with accompanying details (Price paid, SKU, delivery date). . Customer Contact – Today there is an increasing number of customer contact point from multiple channels and contexts. This should not only include sale calls and service requests but any customer or company-initiated contact. c. Descriptive Information – This is for segmentation and other data analysis purposes. d. Response to Marketing Stimuli – This is part of the information file should contain whether or not the customer responded to a direct marketing initiative, a sales contract or any other direct contact. This data should also be represented over time. 2. ANALYZING THE DATA Traditionally customer database have been analyzed with intent to define customer segments. A variety of multivariate statistical methods such as cluster and discriminate analysis have been used to group together customers with similar behavioral patterns and descriptive data which are then used to develop different product offerings or direct marketing campaigns. Direct marketers have used such techniques for many years. Their goals are to target the most profitable prospects for catalogue mailings and to tailor the catalogues to different groups.

More recently, such segmentation approaches have been heavily criticized. Taking a large number of customer and forming groups or segments presumes a marketing effort towards an “average” customer in the group. Given the range of marketing tools available that reach customer one at a time, using tailored messages designed for small groups of customers (What has been referred to as “1-to-1” there is less need to consider the usual market segmentation schemes designed for small groups of customers. Rather there is increased attention being paid to understanding each ‘row’ of the database-that is nderstanding each customers and what he or she can deliver to the company in terms of profits and then, depending on the nature of the product or service, addressing either customer individually or in small clusters. As a result of new “lifetime customer value” (LCV) has been introduced into the lexicon of marketers. The idea is that each row/customer of the database should be analyzed in terms of current and future profitability to the firm. When a profit figure can be assigned to each customer the marketing manager can then decide which customers to target.

As noted a new kind of analysis born form the Internet is the click stream analysis. In this kind of data analysis patterns of mouse “clicks” are examined from cyber store visits and purchase in order to better understand and predict customer behaviour. The goal is to increase conversion rates the percentage of browsing customer to actual buyers. 2. 3 CUSTOMER SELECTION Given the construction and analysis of the customer information contained in the database the next step is to consider which customers to target with the firm’s marketing programs.

If segmentation type analyses are performed on purchasing or related behaviour the customers in the most desired segments (e. g. highest purchasing rates greatest brand loyalty) would normally be selected first for retention programs. Other segment can also be chosen depending upon additional factors. If individual customer based profitability is also available through LCV or similar analysis it would seem to be a simple task to determine on which customers to focus.

The marketing manager can use a number or criteria such as simply choosing those customers that are profitable (or projected to be) or imposing and ROI hurdle. The goal is to use the customer profitability analysis to separate customers that will provide the most long term profits from those that are currently hurting profits. This allow the manager to fire customers that are too costly to service relative to the revenues being produced. The 80/20 rules often holds in approximation, most of a company’s profits are derived form a small percentage of their customers.

Another approach would be to take the current profitability. An obvious problem is that by not accounting for a customer’s possible growth in purchasing, you could be eliminating a potentially important customer. Customers with high LCV could be chosen, as this does a better job incorporating potential purchase. However these customers are difficult to predict and you might include a large number of unprofitable customers in the selected group. No matter what criterion is employed de-selected customers need to be chosen with care.

Once driven away or ignored unhappy customers can spread negative word or mouth quickly particularly in today’s Internet age. 2. 4 TARGET THE CUSTOMERS Mass marketing approached such as television radio of print advertising are useful for generating awareness and achieving other communications objective, but they are poorly suited or CRM due to their impersonal nature. More conventional approaches for targeting selected customers include a portfolio of direct marketing methods such as telemarketing, direct mail, and, when the nature of the product is suitable direct sales.

In particulars the new mantra, “1 to 1” marketing has come to mean using the Internet to facilitate individual relationship building with customer. An extremely popular form the Internet based direct marketing in the use of personalized e-mails. 2. 5 RELATIONSHIP MARKETING While customer contact through direct e-mail offerings is a useful component of CRM, it is more of a technique for implementing CRM than a program itself. Relationships are not built and sustained with direct e-mail themselves but rather through the type of programs that are available for which e-mail may be a delivery mechanism.

The overall goal of relationship programs is to deliver a higher level of customers satisfaction than competing firms deliver. There has been a large volume of research in this area. Research has shown that there is a strong, positive relationship between customer satisfactions an profits. Thus managers must constantly measure satisfaction levels and develop programs that help to deliver performance beyond targeted customers expectations. Sets of relationship programs that can be employed are as follow: 2. 6 CUSTOMER SERVICE

Programs designed to enhance customer service are normally of tow types: Reactive service is where the customer has a problem  (product failure question about a bill product return) and contacts the company to solve it. Most companies today have established infrastructures of deal with reactive service situation through toll free telephone numbers; fax back systems, e-mail addresses and a variety of other solutions. Proactive service is a different matter; this is a situation where the manager had decided not wait for customer prior  to complaining or other behavior sparking a reactive solution. Loyalty/ Frequency programs Loyalty programs (also called frequency programs) provide rewards to customer for repeat purchasing . There have been identified some problems with these programs. There are expensive mistakes can be difficult to correct, as customers  see the company, as staking away benefits and perhaps most importantly, there are large questions about whether they  work to  increase loyalty or average spending behavior. A problem that can be added to this list is that due to the ubiquity of these programs.

It is increasingly difficult to gain competitive advantage. In addition in some industries, such programs have become a competitive necessity. * Customization The notion of mass customization goes beyond 1-to-1 marketing as it implies the creation of products and services for individual customers, not simply communicating with them. * Community One of the major uses of the web for both online and offline businesses is to build a networks of customers for exchanging product related information and to create relationships between the customer and the company or brand.

The goal is to take a prospective relationship are called communities. The goal is to take a prospective relationship with a product and turn it into something more personal. In this way the manager can build and environment that makes it more difficult for the customer to leave the family of the other people who also purchase from the company. Privacy Issues The CRM system depends upon a database of customers information and analysis of that data for more effective targeting of marketing communication and relationship building activities.

There is an obvious tradeoff between the ability of companies to better deliver customized products and services and the amount of information necessary to enable this delivery. Particularly with the popularly of the internet many customers and advocacy groups are concerned about the amount of personal information that is contained in database and how it is being used thus the privacy issue extends all the way through the hierarchy of steps outlines. Metrics Involve a set of tools that companies employ to evaluate the effectiveness of their CRM programs. CHAPTER 3 RELATIONSHIP MARKETING STRATEGIES 3.

REALIONSHIP MARKETING STRATEGIES There are a number of possible relationship marketing strategies to be considered in the development of a relationship marketing plan. Five such strategies are:   1. Core Service Strategy 2. Relationship Customization 3. Service Augmentation 4. Relationship Pricing 5. Internal Marketing These strategies are not totally independent of another and can be used combination. A firm might use all five simultaneously. 3. 1Core Service A key strategy in relationship marketing is the design and marketing of a `core service’ around which a customer relationship can be established.

The ideal core service is one that attracts new customers through its need –meeting character, cements the business through its quality, multiple parts, and long term nature, and provides a base for the selling of additional services over time. Core services are directed toward central rather than peripheral target market needs. An example of a core service is the “individual financial services” program offered through the trust department of Wachovia bank and trust headquartered in Winston- salem, North Carolina. In this program customers select those pecific services they wish from a package of services including tax preparation, cash analysis, budget assistance, insurance analysis, investment analysis, purchase and safekeeping of securities, financial record keeping, bill paying , asset management, and estate planning. Customers pay only for those services they select. The individual financial services program address, affluent consumer need that many banks fail to address, has multiple parts, is long-term in nature, and offers a platform form which other financial services can be sold. 3. 2 Customizing the Relationship

The nature of services affords many services firm the opportunity to customize the relationship. By learning about the specific characteristics and requirements and individual costomers, and then capturing these data for use as needed, service firms can more precisely tailor service to the situation at hand. In so doing they provide their customers with an incentive to remain as customers rather than ‘starting over’ with other suppliers. The possibilities for relationship customization are considerable, especially when personal service capabilities are combined width electronic data processing capabilities.

For example, Xerox has introduced a service system called ‘Field Work Support System’ that involves keeping the history of a customer’s equipment in a computerized data bank. When assistant is required, the customer calls ‘work support representative’ on a toll free number. The representative can instantly access data concerning the customer’s locations, equipment, and its service record. If the problem cannot be worked out over the telephone using a computer checklist, a field service representative is sent to the customer’s site.

Whereas goods are manufactured, services are performed. Frequently they are performed by people who are in the position to custom-fit the service to the customer’s particular requirements. If the customer receives custom service from company A but not form Company B – and if receiving custom service is valued by the customer – then the customer is less likely to leave company A for B than would otherwise be the case. 3. 3 Service Augmentation Another relationship marketing strategy is service augmentation.

Service augmentation involves building ‘extras’ into the service to differentiate it from competitive offerings. For meaningful service differentiation to occur, the extras must be genuine extras- that is, not readily available from competitor – that are valued by customers. When this is the case, customer loyalty is encouraged. As Levitt writes : ‘Having been offered these extras, the customer finds them beneficial and therefore prefers doing business with the company that supply them. ’                 One practitioner of service augmentation is the Fairfax Hotel in Washington, D.

C. The Fairfax attempts to differentiate itself with its upscale target market by providing concierge service, night butler and 24-hours room service, a multi-lingual staff, a morning newspaper delivered to all guest rooms, a mint and cognac with the evening turn – down service, and room amenities including terry- cloth robe, linen laundry bag and bathroom telephone. More that 60% of the Fairfax Hotel guest have stayed there previously. One from of service augmentation becoming more prominent is the ‘preferred customer club’.

By inviting priority customers to join a company – sponsored club, the service company augments the offer with special services and added prestige while establishing a vehicle to stay in touch with these customers through promotional mailings, newsletters  and the like. Marriott’s Club Marquis provides still another example from the hotel industry. There is no membership fee to belong to Club marquis. The qualify for membership, and individual must stay at Marriott hotels on five separate occasion and have their visits validated.

Members receive the following service: * Express reservation service through a toll-free number. * Reservations automatically guaranteed for late arrival. * Pre-registration. * Most deluxe accommodations in the rate category requested. * Complimentary Wall Street Journal delivered to the room each morning. * Express check-out. * Semi-annual newsletter. Member also receiving and identification card and personalized luggage tags. Club Marquis memberships are honored at all Marriott properties. The hotel examples used demonstrate the inherent flexibility of service augmentation.

The ‘extras’ can be anything so long as they are valued by the target market and not easily matched by competitors. The use of hotels examples does not mean, however, the concept is applicable only to hotel. The real estate company that spends a portion of land anticipated listing commission to cosmetically upgrade a home prior to marketing it is using service augmentation. So is the car rental company that provides time –saving services to members of a preferred membership club and the bank that conducts business managements seminars for its small business clients. . 4 Relation Pricing An old marketing idea – a better price for better customer – forms the basis of relationship pricing, another strategy option available to service companies pursuing customer loyalty. Relationship pricing mean pricing services to encourage relationships. In effect, customers are given a price incentive to consolidate much or all of their business with one supplier. Although the concept of quantity discounts is not new, some service companies are applying the concept in innovative ways.

The ‘frequent flyer’ program  of various airlines, which offer travelers upgrades to first class seating and free trips if they fly a certain number of miles on a given carrier, are an attempted to build brand loyalty in what many regard as a commodity business. A poll of more than 6000 frequent flyers indicated that 77% of the respondents were participating in an airline frequent flyer incentive program. As with the other relationship marketing strategies presented, relationship pricing can be implement in various ways in various service industries. . 5 Internal Marketing A pivotal relationship marketing strategy for many service firms is internal marketing. There are several forms of internal marketing. What all forms have in common is the ‘customer’ is inside the organization. The usage in this paper is the employee as the customer and the job as the product. The people who buy goods and services I the role of consumer are the same people who buy jobs. What is known in marketing about selling and reselling them goods and services can also used in selling and reselling them jobs.

The stress placed on customer satisfaction in external marketing is Justas appropriate, just as necessary, in internal marketing. Internal marketing is relevant to virtually all organizations. It is especially important, however, for labor – intensive service organizations. In these organizations, the quality of services sold is determined in large measure by the skills and work attitudes of the personal producing the services. To the extent that labor – intensive service firm can use marketing to attract, keep, and motivate quality personnel, they improve their capability to offer quality service.

Offering services that consistently meet the quality requirements of target markets is clearly an important factor in building strong customer relationship in any service industries. The process one thinks of as marketing – for example, marketing research, market segmentation, product modification, and communications programming – are juust as relevant to internal marketing as to external marketing. Just as marketing research procedures can be used to identify needs, wants and attitudes in the external marketplace, so can they be used for the same purposes in the internal marketiplace.

Marriott Corporaation, for instance, annually surveys employees at each of its hotels about their jobs. Survey results are discussed with the management of the hotel property and shared with upper management at Marriott headquarters. Minnesota Power and Light and GEICO are among the service companies that have regularly used small group meetings between senior management and employees to encourage dialogue and feedback. It employee needs and wants are to be satisfied, they must first be identified. The tools and techniques of marketing research can help.

In essence, internal marketing involves creating an organization climate in general, and job-products in particular, that lead to the right service personnel performing the service in the right way. In consumption circumstances in which the performance of people is what is being sold, the marketing task is not only that of encouraging external customers to buy but also that of encouraging internal customers to perform. When internal customers perform, the likelihood of external customer continuing to buy is increased. CHAPTER 4 CRM – THE NEW FACE OF MARKETING” IN THE BANKING SECTOR . CRM – THE NEW FACE OF MARKETING” IN THE BANKING SECTOR       With hot winds of competition blowing across the Indian banking industry, developing a close, symbiotic relationship with customers has become highly important than ever before. Banks have to come out with innovation measures to satisfy the needs of their present customers, acquire new ones and at the same time adopt procedures to win back the lost customers. This problem gets compounded as customer expectstions for quality, service and value are increasing rapidly on a continuous basis.

Thanks to the development of IT and ? Internet, which are changing the possibilities in terms of customer contact, service and insight, today banks can aim at meeting this expectation by adopting a strategy that is commonly known as Customer Relationship Management. Banks can leverage on these new inventions of science to develop, design and implement CRM strategies in their business processes. Most of the Indian banks are now turning to CRM as they are increasingly realizing that the cost of acquiring new customer is far higher than the cost of retaining existing ones.

Their quest for more effective way to woo and retain customers end with the Implementation of CRM models in their business practices. They no longer see CRM as an optional and expensive add-on but as a ‘must’ to survive in this ever-increasing competitive market. Customer Relationship: What And How? Before discussing about the ‘customer’ relationship’ in detail, it is important to first examine “who a customer is ? ” Quite often people wrongly perceive customers as indivuasuals who use the service of bank i. e. , the end users.

However, the definition of ‘customer’ is broader and covers partners, agents, third parties, employees and of course the end customers. Put simply, a customer is any indivual eho has a relationship with the bank from time to time. Relationships are not built overnight. They pass through different stages namely contact, involvement, intimacy, deterioration, repair and dissolution. A relationship can terminate from any of these stages. It is, therefore, essential for a bank to understand the stage at which it could better sell banking services.

Cross-selling or up-selling can be attempted at certain stages to get better results. The recent research indicates that some of the behavioural traits such as adaptation, trust, commitment, communication, cooperation, conflict resolution, interdependence, past satisfaction, power equation etc. , pave the way to building up relations as also to sustain them over a long period. ‘Adaptation’ is the prime skill that banks needs to cultivate to tailor their resourses to meet the specific needs of the individual customer.

Alignment of bank’s resourses with customer’s needs is directly proportional to the quantum of trust injected into the relationship , both by the bank as well as its customer. ‘Commitment’ is another essential ingredient for cementing the relation. A bank has to necessarily be committed towards the customer for nurturing a fruitful relationship. Secondly, it should reflect a multidimensional approach that encompasses the dimensions of continuance, normative components and effective components. Continuity’ of a relationship is a function of the communication used in extending the cooperation, tracing the disagreement that creeps into the business transaction and style in which these conflicts are resolved. In the final analysis, it is the power equation – the ability of one party to evoke a change in other partner that greatly influences the continuity of any relationship. As the strategy behind the management of customer relationship is basically concerned with sustaining relationship, it moves around the management of customer life cycle.

A typical customer relationship starts with acquisition of customers through personal visits, media advertisements or through referrals from exiting customers. Then the cycle movers on to customer development by way of personalized communication and offering customized products and services based on what is mutually considered as good.. But there is a danger of the customer migrating form the relationship, but at what stage and for what reasons the customer is migrating has to be assessed by the individual bank branches.

Using the historical database, branches can identify the underlying causes for such migration and accordingly redraft their relationship management strategies to minimize future attritions. A bank being an intermediary essentially collects deposits from savers and lends to entrepreneurs at a spread. In the process it assumes the role of a repository of the national economy. As a result its decisions need to be timely, rational and more apt in the given context. This multidimensional goal calls for a wealth of data, of which, the customer related data is sizeable.

A bank to function with the laid down laws of the nations has to necessarily know its customers and decision to sell a credit product/service demands a thorough scrutiny of the customer profile. And that is where the modem concept of CRM through IT-enabled service applies tothebankingsystem. How Does CRM Affect the Business of Banking? CRM has a number of positive effects on the running of a bank. It provides management with a clear picture of the business, facilitating decision-making.

Using a common architecture and data model, customer information can be shared faultlessly between front-end staff facing the customers to deliver services and the back-office staff who structure the deals. Front-end staff of a bank can profile a customer, create and maintain a customer account with contacts, manage activities, and explore business development possibilities. Similarly, a call center agent can maintain client data/information, produce call notes, replies to customer inquiries, and address and track customer service requests.

In a nutshell, implementation of the CRM concept in banks can result in the following advantages: * Speed and accuracy in information analysis * Foundation for organization-wide data and information * Understanding customer behaviour * Facilitating business process re-engineering * Multiple products – credit, deposits, investment, insurance etc. * Multiple distribution channels – branch, internet, call center, field sales etc. * Multiple customer groups – customers, small business, corporation etc. CHAPTER 5 IMPLEMENTING CRM IN IDBI BANKS 5. IMPLEMENTING CRM IN IDBI BANKS

A bank’s success in the field of CRM fully depends in its ability to achieve ‘customer intimacy’. And ‘customer intimacy’ can be achieved by understanding and influence a customer’s behaviour through relevant, uninterrupted, and personalized communication. CRM’s very motto is not only to attract new clients/customers or hold valuable ones, but also to boost the profitability of every indivuasual client/customer and, hence, the bank as a whole. In other words, the major goal of CRM is to build a single, integrated, organization – wide view of the customer, enabling the bank to maximize customer’s experience.

By integrating front – and back – office systems to include reports of all customer contact, purchase of services/products, requests for information and technical support, the bank can present a single face to the customer and offer better services. Such an interface enables banks to access the potential of customer from time to time and offer him the customized products to augment profits. Suffice to say, getting the CRM philosophy work in a bank is quite complex as well as a challenging task for the strategists for it demands them to master some key principles of CRM such as : 5. 1 Bank History IDBI Bank Ltd. premiere technology driven scheduled commercial bank, promoted by IDBI, SIDBI. IDBI bank is constantly looking for ways and means to serve better. This is also reflected in their corporate slogan” What can I do for you? ”. The bank was incorporated on 15th September, 1994 under the Companies Act, 1956. The Bank was granted a ‘ in principle’ license by RBI to carry on banking business in India. IDBI bank was promoted by IDBI and SIDBI, two of India’s premier financial institutions. IDBI was set up as a wholly owned subsidiary of RBI to provide credit and other facilities for the development of industry. . 2 Various steps taken by Bank for increasing CRM * IDBI Bank singed an agreement with Gemplus and Worldwide Smart Net to launch smart cards-based solutions and Worldwide Smart Net to deliver Multi Application Payment Chip Operating System smart cards for its India-wide electric pursue rollout. * IDBI Principal AMC, the 50: 50 joint venture mutual fund of IDBI and Principal Financial Service of the US, proposes to come out with a set of innovative schemes focusing on retirement planning. * IDBI Bank has launched ‘Money Home’, a housing loan product with a fixed rate and floating rate option. IDBI Bank launched its pioneering “smart card” product under the brand Money Smart at Renukoot in Uttar Pradesh. * IDBI Bank has launched Money Smart card for commercial transaction in Mumbai. * The Bank has kicked off its restructuring programme by setting up corporate and retail banking divisions in addition to an e-commerce team. * IDBI Bank is to launch mobile banking as part of its retail banking initiatives. * IDBI Bank has tied up with Infosys, Reuters and Synergy Log-In to revamp its technology platform in line with its new focus area of retail banking. IDBI Bank, launched Money Mobile, its wireless application protocol and short messaging service mobile banking services, simultaneously at Bangalore, Kolkata, Delhi, Hyderabad, Indore and Mumbai. * The Bank has tied up with American Express whereby Amex cardholders can access IDBI Bank ATMs to withdraw cash. * IDBI Bank has launched a retail investment product for the retirees and voluntary retirement seekers. * IDBI Bank has forged an alliance with MTNL in Delhi to held the account holders of the bank to pay their phone bill through ATMs and Internet. . Offering Vs. Customer Classification To start with, banks must realize that all customers are not equal. Customer profitability varies from person to person/context to context and not all customers are evenly desirable for the banks. Banks must differentiate their customers based on the ‘value criteria’ i. e. how valuable the customer is? Value is nothing but the profit a customer adds to the bank’s account. Put simply, a more profitable customer is a ‘high value’ customer and a less profitable customer is as ‘low value’ customer.

A bank’s CRM system must also capture customers’ tastes, preferences, behaviour, living style, age education, cultural background, and physical and psychological characteristics, sensitivity etc. , while differentiating them by the value criteria into low and high value customers. By combining the profitability potential of a given customer and his/her personality profile including their expectations, customers can be grouped in to four categories as follows :   * Low value/less profitable customer desiring high-grade service. * Low value/less profitable customer with potential to become high value in coming days. High value/more profitable customer desiring high-grade service. * High value/more profitable customer desiring low-grade service. Once the banks differentiate their customer vis-a-vis the profitability and their other traits, it becomes easy for banks to customize their services and offerings to maximize the overall value of their customer portfolio. i) Sticking to Exiting Clients According to a research by a software company (Magic Software Enterprises), “it is five to ten times cheaper to retain present client/customers than to acquire new ones”.

Understanding the needs and imperatives of every individual exiting client is at the heart of CRM. A customer has only a single relationship with the bank when he purchases products and services, and so understands the bank. Banks, on the contrary, have thousands and millions of customer relationships in their portfolio. Hence, it is practically impossible to satisfy the subsequent needs of each and every exiting customer to the same level what he/she had enjoyed at the beginning to the relationship. Thus, retention of customer becomes a challenging task.

But as acquiring a new customer is costlier than retaining the exiting one, banks must always try to retain their exiting customers to the extent possible by thoroughly and regularly meeting their needs. It, however does not mean that the banks should not add new customers to their portfolio. Rather, they must acquire new customers while keeping their present customers satisfied. ii) How to Retain a Customer A customer can be retaining by boosting his loyalty. Loyalty can be defined as “making a customers bank again and again with the same bank. Banks must keep their customers serviced and happy so that they keep transacting with them. Customer loyalty can be differentiated into two categories: active loyalty and passive loyalty. Active loyalty means “repeat purchases and contracts made within an appropriate time period. ” Similarly,” Passive loyalty is a term used to describe customer who have not transacted with the bank in the absence of a better alternative. ”Unfortunately most of the Indian banks fail to distinguish between active loyalty and passive loyalty.

They make the mistake of assuming that customer satisfaction is present in case of passive loyalty and in this process they fail to retain their customer. To boost customer loyalty, banks must have a clear understanding of their customers’ unfulfilled needs and must come out with products/services that will satisfy those needs. Banks must have the ability to promote an individual from being a suspect to become an advertise. They have to innovate to meet every need of their customers so that they become their active advertiser while remaining on the loyalty arc.

Turning a suspect into an active advertiser will definitely boost the ‘referral sales’ that are otherwise know as ‘low cost + high margin sales. iii) Information needed for an Effective CRM Solution                   Bankers planning to implement CRM would require a large amount of information about their bank and customer base covering the following: 1. Information about the bank 2. Market information 3. Demographic distribution of present segment of customers by: * Ages * sex * Level of income * Qualification * Marital status * 4. About bank’s valuable/best customers: Products/services they purchase for * The segment they belong to * Their habits, tastes, preferences * Their businesses and future prospects 5. Customer information at the individual level: * Personal information (name, address, family background, qualification etc. ) * The customer group/segment to which the individual belongs * Present and past behaviour record * Interests, disinterests, habits and preference Current Technology Options and Availability of CRM Suites Though integration of CRM platform is not a difficult concept, its plotting and deployment can cause headaches to bankers.

One of the major requirements is to have a single view of the customer. This is so because multiple views of customers are accumulated in different databases and repositories with a bank. Some customer information is stood in several customer touch such as deposits, credits, forex, remittances departments besides new outfits like call cetters, e-business channels, direct sales departments etc. while other customer information is stored in back-office systems that handle tasks such as safe custody, lockers, bill collection, cash management etc.

If these systems are made by different vendors, they might not be able to share information, and splitting them out would be costly. However, this problem could be overcome by using CRM suits and traditional data warehousing and mining products and thereby ensure the display of a ‘single view’ of every customer at any given point of time. Future application possibility will employ the open standards of J2EE, XML, NET as well as C++ and customer-context servers. Nowadays, CRM suites are available from various vendors across the globe including some Indian vendors.

However, suites offered by vedor like Oracle, PeopleSoft, SAP or Siebel are often preferred as they can integrate with back office functions. Is it necessary to set up a Specialized CRM division? To be successful, the philosophy of CRM calls for an organization-wide approach. There is no need to set up a specialized CRM division. However, data understanding, warehousing and mining must be made available to everybody, so that they understand the value/profit that each individual customer adds to the bank and how his/ her future needs will vary form the present needs.

It also helps in identifying what additionally needs to be done to keep the customer satisfied all the times. Responsibility of Bank Staff in the Successful Implementation of CRM  like other applications and programs, the success of CRM programs too depends on cooperate management and vision. CRM needs the bank culture to shift from being “task –oriented to result – oriented”. This change must be initiated by the top management, and must allow the participation of lower-level staff members. Over the years, many CRM programs have failed primarily dew to inadequate staff support. . 3 NEED OF THE STUDY In today’s world of cut throat competition every business unit wants to survive and earn profits. In banking industry, public and private sector is competing to gain more marketing share shares. So, the fact is how to retain the old customers rather than to attract new customer. At this point, building relations with customers and providing them the best is very important. The customer is king today and dictates his on terms to get the best services form the bank he deals with.

So to maintain long term relations with customers and make him satisfied with services is another very important factor. Now a days customer wants zero-defect products or services and in such a case their complaints have to be rectified frequently, especially in service sector. The study to be conducted hold its importance as it revels to the banks that customers may switch over to another bank if complaint are not removed or services are not up to mark. The study holds its importance for all the banks as it acts as a feed back from customers regarding relationship building and customer satisfactions.

As a management student, the study is important as it brings out the importance of CRM in today’s service sector. 5. 4 RESEARCH OBJECTIVES The entire project is concentrated upon following objectives:  a. To study the level of satisfaction of customers of HDFC, ICICI, Bank and Bank of Punjab. b. To make a comparative analysis as to which bank is excelling in customer relationship marketing in the city of Patiala. c. To know how frequently complaints made by customers are rectified or suggestions given are brought in practice. . To know brand loyalty of the customer of the bank. e. To understand the factors contributing to the image formation of the bank. CHAPTER 6 COMPARATIVE STUDY OF BANKS PROFILES 6. COMPARATIVE STUDY OF BANKS PROFILES 6. 1 HDFC Bank History The Bank was incorporated on 30th August, 1994. A new private sector Bank promoted by Housing Development Corporation Ltd. (HDFC) , a premier housing finance company. The bank is the first of its kind of receive an in principle approval from the RBI for establishment of a bank in the private sector.

Certificate of commitment of business was received on 10th October,1994 from RBI as of December 31, 2006, the bank had a India network of 583 branches in 263 cities in India and over 1471 ATM’s. .The bank transacts both traditional  commercial banking as well as investment banking. HDFC, the promoter of the bank has entered into an agreement with National West minister Bank Pc. and its subsidiaries (Natwest Group) for subscribers 20% of the banks issued capital and providing technical assistant in relation to the banks proposed banking business.

The authorized capital of HDFC Bank is Rs. 450 crore  (Rs. 4. 5 billion). The paid-up capital is Rs. 311. 9 crore  (Rs. 3. 1 billion). The HDFC Group holds 22. 1% of the bank’s equity and about 19. 4% of the equity is held by ADS Depository (in respect of the bank’s American Depository Shares (ADS) Issue). Roughly 31. 3% of the equity is held by Foreign Institutional Investors (FIIs) and the bank has about 190,000 shareholders. The shares are listed on the Stock Exchange, Mumbai and the National Stock Exchange.

The bank’s American Depository Shares are listed on the New York Stock Exchange (NYSE) under the symbol. 6. 2 ICICI BANK History ICICI Bank is India’s second-largest bank with total assets of about Rs. 2,513. 89 bn (US$ 56. 3 bn) at March 31, 2006 and profit after tax of Rs. 25. 40 bn (US$ 569 mn) for the year ended March 31, 2006 (Rs. 20. 05 bn (US$ 449 mn) for the year ended March 31, 2005). ICICI Bank has a network of about 614 branches and extension counters and over 2,200 ATMs.

ICICI Bank offers a wide range of banking products and financial services to corporate and ICICI Bank currently has subsidiaries in the United Kingdom, Russia and Canada, branches in Singapore, Bahrain, Hong Kong, Sri Lanka and Dubai International Finance Centre and representative offices in the United States, United Arab Emirates, China, South Africa and Bangladesh. ICICI Bank’s equity shares are listed in India on the Bombay Stock Exchange and the National Stock Exchange of India Limited and its American Depositary Receipts (ADRs) are listed on the New York Stock Exchange (NYSE).

At June 5, 2006, ICICI Bank, with free float market capitalization* of about Rs. 480. 00 billion (US$ 10. 8 billion) ranked third amongst all the companies listed on the Indian stock exchanges. ICICI Bank was originally promoted in 1994 by ICICI Limited, an Indian financial institution, and was its wholly-owned subsidiary ICICI was formed in 1955 at the initiative of the World Bank, the Government of India and representatives of Indian industry. The principal objective was to create a development financial institution for providing medium-term and long-term project financing to Indian businesses.

In the 1990s, ICICI transformed its business from a development financial institution offering only project finance to a diversified financial services group offering a wide variety of products and services, both directly and through a number of subsidiaries and affiliates like ICICI Bank. In 1999, ICICI become the first Indian company and the first bank or financial institution from non-Japan Asia to be listed on the NYSE. Consequent to the merger, the ICICI group’s financing and banking operations, both wholesale and retail, have been integrated in a single entity.

Various steps taken by Bank for increasing CRM * SkyCell Communications Ltd. one of the two cellular service providers in Chennai, has launched ‘Sky Banking’, for which the Company has tied up with ICICI Bank and HDFC Bank. * The ICICI has announced the launch the mobile banking services for its customers, using the wireless application protocol (WAP) technology. * Ford India has tied up with ICICI Bank to introduce a scheme, enabling non-resident Indians (NRIs) to purchase a Ford Ikon car for their friends and relatives in India. ICICI Bank has tied up with Chennai Telephones to provide Internet bill payment facility to its customers. * ICICI Bank has tied up with the Siddhivinayak temple trust to enable the bank’s infinity (Internet banking) customers to order and pay for a pooja online, on the occasion of “Aandaraki Chaturthi”. * The Finance portal “India Infoline” has tied up with ICICI Bank and HDFC Bank for banking back-ends. * Tata Tele services Ltd. has tied up with ICICI Bank to enable its customers to use Internet banking facility for the payment of telephones bills. ICICI Bank will provide credit for online transaction over “chemb. com”, the online trading site for chemicals and chemical products, launched by Chembazaar online Pvt. Ltd. * ICICI become the first financial institution to go for placement of dematerialized debt securities. * “electricmela. com”, the B2B portal for the electrical industry is entering into an alliance with ICICI Bank for payment gateways. * Spice cell has tied up with ICICI Bank for mobile bill settlements. * ICICI Bank and UAE Exchange Centre have entered into a wire transfer arrangement, for electronic and telex transfer of funds. The Bank has tied up with “Munshikaka. com” to provide value added services to its customers. * The Kerala Government has joined hands with ICICI Bank to introduce Internet banking facility in the State’s public sector undertakings. * ICICI Bank launched its debit card under the brand name “ICICI N-Cash”. * ICICI Bank and Deutsche Bank have entered into a long-term rupee interest rate swap benchmarked to Government bond yields. * ICICI Bank has tied up with Advantage e-accounting to offer an on-line taxation and personal finance services along with off-line services like filling. The Bank has entered into a wire-transfer arrangement called ‘Money21India’ with the United Arab Emirates Largest foreign exchange house for transfer of funds to India. * ICICI Bank and BPL mobile have tied up to launch a co – branded credit card. To be named ICICI Bank –BPL Mobile Credit Card, the card will be operation by the end of August this year. * ICICI Bank has launched its interactive touch screen Kiosk ‘Sparsh’ at its automated teller machine (ATM)    centers and branches allowing free access to its online services. ICICI Bank has introduced Web-based product that facilities on-line conclusion of forex deals in the city. * Visa international and ICICI Bank on September 10, 2001announced pilot programme for facilitating e-commerce in the country. * As parts of its drive to introduced alternate delivery channels ICICI Bank has launched mobile banking facilities in conjunction with spice communications. * ICICI Bank and BPL Mobile have tied-up to launch a co-branded credit card. To be named ICICI Bank BPL Mobile Credit Card. * ICICI Bank acquired Shimla in Darjeeling Branches from Slandered Charted Grind lays Bank. 6. PUNJAB NATIONAL BANK PNB is professionally managed bank with a successful track record of over 110 years. Established in 1895 at Lahore, undivided India, Punjab National Bank (PNB) has the distinction of being the first Indian bank to have been started solely with Indian capital. The bank was nationalized in July 1969 along with 13 other banks. From its modest beginning, the bank has grown in size and stature to become a front-line banking institution in India at present. Punjab National Bank is serving over 3. 5 crore customers through 4520 branches including 439 extension counters – largest amongst Nationalized Banks.

The bank has been conscious of its social responsibilities by financing agriculture and allied activities and small-scale industries (SSI). Considering the importance of small-scale industries bank has established 31 specialized branches to finance exclusively such industries. It has strong correspondent banking relationship which Punjab National Bank maintains with over 200 leading international banks all over the world enhances its capabilities to handle transactions worldwide. Besides, bank has Rupee Drawing Arrangements with 15 exchange companies in the Gulf and one in Singapore.

Bank is a member of the SWIFT and over 150 branches of the bank are connected through its computer-based terminal at Mumbai. With its state-of-art dealing rooms and well-trained dealers, the bank offers efficient forex dealing operations in India. Punjab National Bank India maintains relationship with more than 200 leading international banks world wide. PNB India has Rupee Drawing Arrangements with 15 exchange companies in UAE and 1 in Singapore. Punjab National Bank has its Branches in all the 7 metropolitan and cosmopolitan cities in India namely New Delhi, Mumbai, Calcutta, Chennai, Ban galore, Hyderabad and Ahmedabad.

It even has its branches in small town in both urban as well as rural areas. PNB is always focusing on expanding abroad and till date has identified some emerging economies abroad. They are in few of these places. * Almaty * Kazakhktan * Shanghai * China * London * Kabul * Afghanistan Various steps taken by Bank for increasing CRM * Bank of Punjab has a wide area network of branches across the country. The bank has established correspondent banking relationships across 60 countries. * The Bank has already launched its e-banking services and mobile phone banking for its customers as value added services. The Bank has put in place a 24-hour customer care centre enabling secure Online Banking and information services. * Bank of Punjab has made a strategic tie up with Master Card International for its MASTERO, SWADHAN and CIRRUS International Card Network. * Over and above its own ATM Network the customer of Bank of Punjab would also be able to access hundreds of ATMs of other Master Card Member bank in India and over 5,40,000 worldwide displaying ‘CIRRUS’ logo. As a tribute to the memory of its founder late Dr.

Inderjit Singh and his commitment of giving the very best to  customers, employees and the world of Banking, Bank of  Punjab has set up a state-of-the-art, Dr. Inderjit Singh Institute  of Banking and Insurance Management at Gurgaon, near  Delhi. The first among pear banks, the residential institute, of  truly international standards, is equipped with comprehensive  training aids, an extensive library and the latest IT tools. The  institute provides an ideal learning environment for  professionals from banking, insurance and financial sectors. CHAPTER 7 REVIEW OF LITERATURE 7.

REVIEW OF LITERATURE Many studies and researches have been conducted relating to CRM by various researches and some of them have been discussed below:        Lovelock (1996) – The services sector of the economy is going through a period of almost revolutionary properties in which established ways of doing business continued to be shunted aside. Around he world, innovative new offering, new standards of services succeeded in the market where established competition has failed to please today’s demanding customer. As per Mc Dowell (1953), CRM has become full-fledged subject of importance today.

The Eight P’s – Product, place, price, promotion, People, process and Physical Evidence and Pace-helping meeting customer standards and Expectation thus enhancing quality of Services nd Brand loyalty. Parker (1958), in his DBA dissertation visualized the importance of Customer Services. Johanson’s Dissertation in 1969, asked the question “Are goods and services different? And launched the goods versus services debate. The Era of Pre – 1980’s has been deifned as the “Revolution of Services” as stated by Regan (1963). During this period the Marketing was at infant stage and lot of things were to cleared.

He expressed now the marketing through his traveled a long distance and the concept of services marketing has come into existence. He described the “United States” as well advance into device revolution that would significantly change consumer behavior. Berry (1985, 1988) suggested that the criteria used by customers are important in moulding their expectations, precipitations and hence satisfaction, fir ten dimensions, these are Tangibility, reliability, and responsiveness, communication, Credibility, security, Competence, Courtesy, Understanding and access. Later the author condensed it to five categories viz.

Tangibility, Reliability, responsiveness, Assurance and Empathy Gronross added the sixth dimension i. e. recovery. Lewis and Smith (1989) investigated the expectation and precipitation of banks and building society retail customers with regard to 39 elements of services divided into 4 dimensions as Physical features, reliability, characteristics of the staff and responsiveness towards the customers. Ganesan (1994) suggested that long-term orientation in buyer-seller relationship is important, as it is the function of two things: mutual dependence and trust between them.

Both these parameters help in bonding of buyer and seller thus improving their relationship. Stewart (1998) suggested that as the customer relationship marketing or management is given more stress in the recent past but much emphasis is required on why customers exit? Policies, strategies are to frame in order to avoid the situation. Seethapathi and Karuna (1999) discussed that only those banks would survive which would give quality services to the customers and believe in the long term relationship management. Vyas (1999) is of the view that customer satisfaction is the core competence tool for long-term relationship and profitability.

He expressed the view that this would be possible only if the services provided to the customers are of highest quality. Aggarwal (2000) observed that the customer is the central figure in the relationship marketing as his loyalty can be commanded towards the particular brand of service. A. Purushothaman (2002) concluded that relationship building leads to customer loyalty, which, in turn, helps in retention of customers. Some highly successful companies use already exiting strong relationships to cultivate and strengthen new ones.

Chris Lawer (2004) observed that the organizations who identify opportunities for improving customer relationships and who co-ordinate and measure change in all customer impact zones will have a greater chance of success. A disciplined approach to customer management will help them to: * Redefine the interior and construct new interfaces between itself, its customer and partners (orientation and interface) * Identify new markets, new relationship opportunities, new service processes and new customer value to create loyalty (Insight and Innovation)

CHAPTER 8 DATA COLLECTION METHOD 8. DATA COLLECTION METHOD The present study is based on both primary and secondary data sources. ii. Secondary Sources 1. To study the profile of banking in Patiala, the secondary data was collected from the District Credit Planner 2002 – 2003 published by the Punjab National Bank, the lead bank, Patiala. 2. To study the profile of banks and to carry out its swot analysis the secondary data was collected from internet, newspapers, magazines and information brochures of the banks. ii. Primary  Sources

To study the customer satisfaction level regarding the four banks, the primary data was collected through a structured questionnaire having both close ended and open ended questions. 8. 1 RESEARCH APPROACH : Market survey method of data collection by administering the structured questionnaire was found suitable. Survey approach is  best suited for gathering descriptive information. This is the most widely used method for primary data collection. Its purpose is to collect specific data concerning the market that cannot be enumerated from the company’s internal records.

The major advantage of survey research is its flexibility. It can be used to obtain many different kinds of information in many different  sitiations. 8. 3 SAMPLING PLAN In sampling plan three decisions are to be taken : I. Sampling Unit This answers: who is to be surveyed? That is among the total population who forms the population for the purpose of research. In this case the customers of HDFC, ICICI, IDBI Bank and Bank Of Punjab were taken up as sampling unit. II. Sample Size This answers: what number is to be surveyed?

It is difficult rather impossible to survey each and every unit of the population due to certain constraints like time and cost. The samples are drawn to be surveyed. Here the sample size taken is 100 in total. III. Sampling Procedure Convenience Stamping Technique  IV. Contact Method This answers : how the sample should be contacted? It can be done through personal interview, telephone calls etc. For this purpose, personal interviewing method i. e