• citations in SCIndeks: 0
  • citations in CrossRef:0
  • citations in Google Scholar:[]
  • visits in previous 30 days:5
  • full-text downloads in 30 days:3


article: 1 from 1  
Back back to result list
2017, vol. 48, iss. 2, pp. 107-114
Value of CRM initiatives for banks: Is the skepticism justified?
University of Belgrade, Faculty of Organizational Sciences,,
Financial services sector has undergone through dynamic development and there is an obvious need for innovative business models that will contribute to the clients' satisfaction as well as to acquisition of new clients. Customer relationship management could be defined as a strategy for understanding clients' needs with the goal to provide higher level of satisfaction, long-term cooperation and sales increase. In literature is still present scepticism about the value of CRM initiatives and accomplished improvements of business performances. Consequently, the aim of this paper is to understand basics and indicators of CRM success in banking sector. Paper gives literature review in this field and determines necessary resources to achieve advantages from long-term and good relationships with customers.
Anderson, E.W., Sullivan, M.W. (1993) The Antecedents and Consequences of Customer Satisfaction for Firms. Marketing Science, 12(2): 125-143
Araya, S., Chaparro, J., Jogler, H., Orero, A. (2007) An Integrative View of IS/IT and Organizational Resources and Capabilities. Issues in Informing Science and Information Technology, 4: 629-639
Becker, J.U., Greve, G., Albers, S. (2009) The impact of technological and organizational implementation of CRM on customer acquisition, maintenance, and retention. International Journal of Research in Marketing, 26(3): 207-215
Berger, S. C., Gensler, S., Skiera, B., Wiesel, T. (2009) Customer Relationship Management Processes in Retail Banking - Best Practice and Business Value Evaluation. in: 2009 42nd Hawaii International Conference on System Sciences, Institute of Electrical and Electronics Engineers (IEEE), str. 1-10
Bhat, S.A., Darzi, M.A. (2016) Customer relationship management. International Journal of Bank Marketing, 34(3): 388-410
Bos, J.W.B., Kolari, J.W., van Lamoen, R.C.R. (2013) Competition and innovation: Evidence from financial services. Journal of Banking & Finance, 37(5): 1590-1601
Boulding, W., Staelin, R., Ehret, M., Johnston, W.J. (2005) A Customer Relationship Management Roadmap: What Is Known, Potential Pitfalls, and Where to Go. Journal of Marketing, 69(4): 155-166
Chan, J.O. (2005) Toward a unified view of customer relationship management. Journal of American Academy of Business, 6(1): 32-38
Chang, W., Park, J.E., Chaiy, S. (2010) How does CRM technology transform into organizational performance? A mediating role of marketing capability. Journal of Business Research, 63(8): 849-855
Chen, J., Ching, R.K., Li, E.Y., Liao, Y. (2004) An exploratory study of the effects of CRM practices on CRM effectiveness and business performance. in: ICEB, pp. 249-254
Chen, J.H.F., Wang, E.T.G. (2006) Internalization in Technology Innovation: A Case of CRM Adoption. in: Proceedings of the 39th Annual Hawaii International Conference on System Sciences (HICSS'06), Institute of Electrical and Electronics Engineers (IEEE), str. 111a-111a
Chirica, C. (2013) Relationship marketing-best practice in the banking sector. Amfiteatru Economic, 15(33), 288
Dabić, S., Vasiljević, B., Barjaktarović, R.S., Milošević, N. (2013) Bankarski menadžment, Skripta. Beograd: Univerzitet u Beogradu, Fakultet organizacionih nauka
Day, G.S. (2003) Creating a superior customerrelating capability. MIT Sloan Management Review, 44(3): 77
Durkin, M.G., Howcroft, B. (2003) Relationship marketing in the banking sector: the impact of new technologies. Marketing Intelligence & Planning, 21(1): 61-71
Đukić, S. (2015) Potrošač kao učesnik inovacionih mreža. Marketing, vol. 46, br. 1, str. 3-12
Eid, R. (2007) Towards a Successful CRM Implementation in Banks: An Integrated Model. Service Industries Journal, 27(8): 1021-1039
Fox, T., Stead, S. (2001) Customer relationship management: Delivering the benefits. New Malden: CRM (UK), White Paper
Frame, W. S., White, L.J. (2014) Technological Change, Financial Innovation, and Diffusion in Banking. in: Berger, Allen N.; Molyneux, Philip; Wilson, John O. S. [ed.] The Oxford Handbook of Banking, Oxford University Press (OUP)
Galbreath, J., Rogers, T. (1999) Customer relationship leadership: a leadership and motivation model for the twenty‐first century business. TQM Magazine, 11(3): 161-171
Garrido-Moreno, A., Lockett, N., García-Morales, V. (2014) Paving the way for CRM success: The mediating role of knowledge management and organizational commitment. Information & Management, 51(8): 1031-1042
Geib, M., Reichold, A., Kolbe, L., Brenner, W. (2005) Architecture for Customer Relationship Management Approaches in Financial Services. in: Proceedings of the 38th Annual Hawaii International Conference on System Sciences, Institute of Electrical and Electronics Engineers (IEEE), str. 240b-240b
Ghalenooie, M.B., Sarvestani, H.K. (2016) Evaluating Human Factors in Customer Relationship Management Case Study: Private Banks of Shiraz City. Procedia Economics and Finance, 36: 363-373
Hooley, G.J., Piercy, N.F., Nicouloud, B. (2008) Marketing strategy and competitive positioning. Pearson Education Limited
Keramati, A., Mehrabi, H., Mojir, N. (2010) A process-oriented perspective on customer relationship management and organizational performance: An empirical investigation. Industrial Marketing Management, 39(7): 1170-1185
Khodakarami, F., Chan, Y.E. (2014) Exploring the role of customer relationship management (CRM) systems in customer knowledge creation. Information & Management, 51(1): 27-42
Kim, J., Suh, E., Hwang, H. (2003) A model for evaluating the effectiveness of CRM using the balanced scorecard. Journal of Interactive Marketing, 17(2): 5-19
Kracklauer, A.H., Mills, D. Q., Seifert, D. (2004) Customer Management as the Origin of Collaborative Customer Relationship Management. in: Kracklauer, Alexander H.; Mills, D. Quinn; Seifert, Dirk [ed.] Collaborative Customer Relationship Management, Berlin, Heidelberg: Springer Nature, str. 3-6
Li, L., Mao, J. (2012) The effect of CRM use on internal sales management control: An alternative mechanism to realize CRM benefits. Information & Management, 49(6): 269-277
Mendoza, L.E., Marius, A., Pérez, M., Grimán, A.C. (2007) Critical success factors for a customer relationship management strategy. Information and Software Technology, 49(8): 913-945
Milošević, N., Cicvarić, K.S., Barjaktarović, R.S. (2015) Da li CRM uvodi promene u okviru kreditne politike? Iskustva iz Srbije. in: Zbornik radova: SPIN - Skup privrednika i naučnika: “Inovativna rešenja operacionog menadžmenta za revitalizaciju privrede Srbije”, Beograd: Fakultet organizacionih nauka, Inovativna rešenja operacionog menadžmenta za revitalizaciju privrede Srbije, str. 596-603
Ngai, E.W.T., Xiu, L., Chau, D.C.K. (2009) Application of data mining techniques in customer relationship management: A literature review and classification. Expert Systems with Applications, 36(2): 2592-2602
Ozatac, N., Saner, T., Sen, Z.S. (2016) Customer Satisfaction in the Banking Sector: The Case of North Cyprus. Procedia Economics and Finance, 39: 870-878
Payne, A., Frow, P. (2006) Customer Relationship Management: from Strategy to Implementation. Journal of Marketing Management, 22(1-2): 135-168
Peltier, J.W., Zahay, D., Lehmann, D.R. (2013) Organizational Learning and CRM Success: A Model for Linking Organizational Practices, Customer Data Quality, and Performance. Journal of Interactive Marketing, 27(1): 1-13
Pfeifer, P.E., Ovchinnikov, A. (2011) A Note on Willingness to Spend and Customer Lifetime Value for Firms with Limited Capacity. Journal of Interactive Marketing, 25(3): 178-189
Reimann, M., Schilke, O., Thomas, J.S. (2010) Customer relationship management and firm performance: the mediating role of business strategy. Journal of the Academy of Marketing Science, 38(3): 326-346
Santouridis, I., Tsachtani, E. (2015) Investigating the Impact of CRM Resources on CRM Processes: A Customer Life-cycle Based Approach in the Case of a Greek Bank. Procedia Economics and Finance, 19: 304-313
Shang, S.S.C., Lin, S.F. (2010) People-driven processes in customer relationship management. Service Industries Journal, 30(14): 2441-2456
Shaw, M.J., Subramaniam, C., Tan, G.W., Welge, M.E. (2001) Knowledge management and data mining for marketing. Decision Support Systems, 31(1): 127-137
Sin, L.Y.M., Tse, A.C.B., Yim, F.H.K. (2005) CRM: conceptualization and scale development. European Journal of Marketing, 39(11/12): 1264-1290
Sivaraks, P., Krairit, D., Tang, J.C.S. (2011) Effects of e-CRM on customer-bank relationship quality and outcomes: The case of Thailand. Journal of High Technology Management Research, 22(2): 141-157
Soltani, Z., Navimipour, N.J. (2016) Customer relationship management mechanisms: A systematic review of the state of the art literature and recommendations for future research. Computers in Human Behavior, 61: 667-688
Wu, C., Kao, S., Su, Y., Wu, C. (2005) Targeting customers via discovery knowledge for the insurance industry. Expert Systems with Applications, 29(2): 291-299
Wu, W. (2002) Customer relationship management (CRM) technology, market orientation, and organizational performance. Concordia University, Doctoral dissertation
Zablah, A.R., Bellenger, D.N., Johnston, W.J. (2004) An evaluation of divergent perspectives on customer relationship management: Towards a common understanding of an emerging phenomenon. Industrial Marketing Management, 33(6): 475-489
Zineldin, M. (2005) Quality and customer relationship management (CRM) as competitive strategy in the Swedish banking industry. TQM Magazine, 17(4): 329-344


article language: Serbian
document type: Preliminary Report
DOI: 10.5937/Markt1702107B
published in SCIndeks: 05/04/2018
peer review method: double-blind
Creative Commons License 4.0