Customer Releationship Management

African Journal of Business Management Vol. 6(22), pp. 6682-6686, 6 June, 2012 Available online at http://www.academicjournals.org/AJBM DOI: 10.5897/AJBM12.634 ISSN 1993-8233 ©2012 Academic Journals

Full Length Research Paper

Customer relationship management and customer satisfaction

Chris Adalikwu

Management HUFS College of Business, 270 Imundong, Dongdaemungu, Seoul 130-791, Korea. E-mail: akwa22000@yahoo.com.

Accepted 7 May, 2012

The understanding of how to manage customer relationship effectively has become an important topic for both academics and practitioners in recent years. However, the existing academic literature on customer relationship management (CRM) strategies of banks does not provide a comprehensive outline of what specifically constitutes CRM phases. This study has three purposes: (1) to conceptualize and operationalize the CRM implementation in commercial banks in Taiwan; (2) to determine whether the CRM implementation is positively associated with customer satisfaction; and (3) to determine key moderators between CRM implementation and customer satisfaction. Findings revealed that CRM implementation is associated with customer satisfaction; and there are significant interactions amongst Information technology (IT) capability, contact rate management and recovery management with customer satisfaction. A regression model was churned to evaluate the criteria to measure the level of CRM implementation on customer satisfaction. Key words: Customer relationship management (CRM), commercial banks, customer satisfaction, organizational characteristics, Eigen value. INTRODUCTION In recent years, many banks intend to develop and manage stronger interaction with their customers with the aim to maximize customer equity. This involves building and managing successful customer relationships to raise customer satisfaction. After 1990s, the number of banking consolidation and cross-sector business increased rapidly. Taiwan’s financial industry,...