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ROADMAP OF PRESENTATION
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INTRODUCTION:
OBJECTIVES OF RESEARCH
RESEARCH QUESTIONS
RESEARCH SIGNIFICANCE
LITERATURE REVIEW
THEORATICAL FRAMEWORK
HYPOTHESIS TO BE TESTED
METHODOLOGY OF RESEARCH
LIMITATION OF RESEARCH
SCHEME OF STUDY

1. INTRODUCTION:
INTRODUCTION
Today, many financial services organisations are rushing to become
more customer focused. A crucial element of many initiatives is the
implementation of customer relationship management known as CRM
software. The development of information and communication
technology provides many financial services to collect detailed data
about their individual customers. These companies can take advantage
of customer data to improve marketing policies to attract more
customers to increase their profit.
In response to the growing threat from non financial and non-traditional
competitors, established financial services providers are using
information technologies (IT) to deliver new financial products or to
complement traditional ones, such as deposit, investment, credit, and
insurance services. Customer relationship management (CRM) holds
the promise to achieve such corporate objectives in this highly
competitive arena.

 Many large and small financial services grab huge amount of data
on their customers. These financial services are now become aware
of the fact that of using that data they already have about their
customers in order to make long- term relationship with their
customers. The Researcher wants to explore how the role of
Customer relationship management (CRM) in financial services
using information technology in implementing relationship marketing
strategies. Research is required to understanding the role of CRM in
this sector as financial services is huge sector of any country and
little research has been done in understanding the adaptation of
CRM in financial services.

No one can deny the role of Information Technology (IT) in CRM

happenings, but the problem is companies are focused on in search
of CRM capabilities ignoring the wider business issues. Modelling of
customer data has become an increasingly important issue in
customer relationship management.
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RESEARCH OBJECTIVES:
To explore the adaptation and use of customer relationship
management CRM in financial service.
To critically review the current literature on CRM, relationship
marketing and role of information technology to explore the adaptation
and use of CRM in financial services
To propose a framework for CRM adaptation

3. RESEARCH QUESTIONS:
what is the role of adaptation and use of customer relationship
management CRM in financial service.
What are different factors that will facilitate the adaptation and use
of CRM in financial services.
To propose a framework for CRM adaptation

4. RESEARCH SIGNIFICANCE:

A CRM system consists of a historical view and analysis of all the acquired or to be acquired customers. This
helps in reduced searching and correlating customers and to foresee customer needs effectively and increase
business.
CRM contains each and every bit of details of a customer, hence it is very easy for track a customer accordingly
and can be used to determine which customer can be profitable and which not.
In CRM system, customers are grouped according to different aspects according to the type of business they do
or according to physical location and are allocated to different customer managers often called as account
managers. This helps in focusing and concentrating on each and every customer separately.
A CRM system is not only used to deal with the existing customers but is also useful in acquiring new customers.
The process first starts with identifying a customer and maintaining all the corresponding details into the CRM
system which is also called an Opportunity of Business. The Sales and Field representatives then try getting
business out of these customers by sophistically following up with them and converting them into a winning deal.
All this is very easily and efficiently done by an integrated CRM system.
The strongest aspect of Customer Relationship Management is that it is very cost-effective. The advantage of
decently implemented CRM system is that there is very less need of paper and manual work which requires
lesser staff to manage and lesser resources to deal with. The technologies used in implementing a CRM system
are also very cheap and smooth as compared to the traditional way of business.
All the details in CRM system is kept centralized which is available anytime on fingertips. This reduces the
process time and increases productivity.
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.
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.

5.LITERATURE REVIEW:
CUSTOMER RELATIONSHIP MANAGEMENT

ROLE OF INFORMATION TECHNOLOGY

RELATIONSHIP MARKETING

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8. RESEARCH DESIGNED AND METHODOLOGY :

RESEARCH PHILOSOPHY AND APPROACH
The research approach selection will be based on whether research
use the deductive approach, to develop a theory and hypothesis and
design a research strategy to test the hypothesis, or the inductive
approach where research will be taken to collect data and develop a
theory as a result of data analysis (Saunders et al, 2000). The
researcher is in favour of the inductive approach because of the
nature of research that is intended to be taken. As research question
and objectives requires researcher to collect data regarding the
adaptation or role of CRM in financial services and proposed the
framework depends on the analysis of that data. The author is in
view of that by selecting inductive approach, it will allow researcher
examining subject for interview, then idea, concepts and theories will
be reviewed, such as role of Information technology and relationship
management in CRM (for financial services) to meet the objectives.
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RESEARCH STRATEGY

Saunders et al (2000) defines research strategy as a general plan of how you will go
about answering the research question you have set. It will contain clear objectives
derived from research question. Silverman 2005 identifies four issues that arise while
deciding the strategy:
Making an early decision about what method to use
Understanding the link between methods, methodologies and society
Appreciating how models shape the meaning and use of different methods
Choosing methods appropriate to research topic
There are different research strategies some of them follow deductive and others
inductive approach. It is important to follow research strategy that meets the aims and
objectives of the research. The researcher is interested in following grounded and
explanatory theories from inductive perspective.

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GROUNDED
THEORY
The author intends to adapt grounded theory approach to suggest

subsequent, appropriate action to be taken because it is specifically

derived from the events and circumstances of the setting in which
the research was conducted by knowing through data collection
method from staff and managers of financial service what do they
think about the role of CRM in financial services.

EXPLORATORY THEORY
The researcher is interested in adapting exploratory research
strategy as the nature of research requires doing so because the
author is interested in talking experts in financial services e.g.
managers and staff to investigate the adaptation of relationship
marketing and CRM in these firms and might be talking to focused
group for interviews.

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DATA COLLECTION METHODS

According to Saunders et al (2000), interviews many be
highly formalized and structured, using standardized
questions for each respondent, or they may be informal and
unstructured conversations. In between there are
intermediate positions. Interviews may be categorised as
one of:
structured interviews
semi structured interviews;
un structured interviews

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