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Customer Relationship Management Functions: A Survey of Greek Bank Customer Satisfaction Perceptions

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  • John Mylonakis

Abstract

In a competitive and globalized banking era, customers constitute one of the most important and valuable assets of a bank. Banks’ technological developments are interpreted as the intensive use of information technology and facilitating massive collection of information and their direct and integral processing. The aim of this paper is to present Customer Relationship Management (CRM) functions, as applied in the banking sector, examined from a bank marketing point of view. The study was carried out in 2007 on a convenience sample of 300 respondents through the distribution of structured questionnaires to bank customers within the area of Athens, Greece. The main finding of the study reveals that a majority of customers are satisfied with their bank. Most bank customers believe that the use of new technologies helps their communication with banks. They trust the bank employees for obtaining information on the existing banking products and services, while for new programs, they prefer to choose alternative channels, such as the Internet, phone services, brochures and press releases. The Greek banking market has adopted CRM solutions in recent years, as banks have realized the need to maintain their customer base and to better use their resources in order to promote their products and services. In general, there is a positive attitude towards CRM.

Suggested Citation

  • John Mylonakis, 2009. "Customer Relationship Management Functions: A Survey of Greek Bank Customer Satisfaction Perceptions," The IUP Journal of Bank Management, IUP Publications, vol. 0(2), pages 7-31, May.
  • Handle: RePEc:icf:icfjbm:v:8:y:2009:i:2:p:7-31
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    Cited by:

    1. Robert Fabac & Ivan Mance, 2011. "Customer Relationship Management System in Occupational Safety & Health Companies: Research on Practice and Preliminary Design Solution," Interdisciplinary Description of Complex Systems - scientific journal, Croatian Interdisciplinary Society Provider Homepage: http://indecs.eu, vol. 9(2), pages 101-118.
    2. Abdul Alem Mohammed & Basri bin Rashid, 2012. "Customer Relationship Management (CRM) in Hotel Industry: A framework Proposal on the Relationship among CRM Dimensions, Marketing Capabilities and Hotel Performance," International Review of Management and Marketing, Econjournals, vol. 2(4), pages 220-230.
    3. Claudia Tarantola & Paola Vicard & Ioannis Ntzoufras, 2012. "Monitoring and Improving Greek Banking Services Using Bayesian Networks: an Analysis of Mystery Shopping Data," Quaderni di Dipartimento 160, University of Pavia, Department of Economics and Quantitative Methods.

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