Tapan Kumar Panda

Bio: Tapan Kumar Panda is an academic researcher from Narsee Monjee Institute of Management Studies. The author has contributed to research in topics: Tourism & Ecotourism. The author has an hindex of 12, co-authored 43 publications receiving 509 citations. Previous affiliations of Tapan Kumar Panda include Great Lakes Institute of Management & Indian Institute of Management Lucknow.

Creating customer life time value through effective crm in financial services industry

Abstract: Customer Relationship Management (CRM) has its origin in the basic paradigm of marketing i.e. to satisfy customers with the best possible alternative in the market through a relational exchange process. Customer relationship management goes beyond the transactional exchange and enables the marketer to estimate the customer’s sentiments and buying intentions so that the customer can be provided with products and services before he starts demanding. This is possible through the integration of four important components i.e. people, process, technology and data. Customer data management gives us leads about the probability of customer demand and the technology helps us in tracking the characteristics and categorization of customers depending on his past behavior. The process reorients the traditional business models to suit the integrative approach of customer relationship management by emphasising customer life time value rather than product life time value. The product life cycle approach strategy is now obsolete and it gives way to customer life time value. The concept of customer life time value helps the marketer to analyze the cost of acquiring, serving and retaining a certain set of customers in the market. This research paper throws light on some of these issues in financial services industry. The financial services industry today is facing an uphill task of reorienting itself with changing technology and varying customer demand. The literature survey highlights the earlier research references in the area of customer relationship management to augment the body of knowledge for this study. The concepts of creating customer life time value are analyzed with the examples of a credit management strategy and billing system for a financial services industry.

Does Emotional Appeal Work in Advertising? The Rationality Behind Using Emotional Appeal to Create Favorable Brand Attitude

Abstract: The paper attempts to assimilate the current thinking on the use of emotional appeals in advertising, positioning and communication in order to build a favorable attitude towards a brand. It elucidates the areas where emotional appeals would work best, while pointing out the possible pitfalls in employing such a strategy across the board. Further, an attempt has been made to interpret the current body of knowledge on the subject and create a context for general application of emotional appeal in advertising. The paper identifies products and services for which emotional advertising appeals will be more suitable. It also elaborates the risk involved in using emotional appeals. Factors influencing effectiveness of emotional appeals are discussed in detail and guidelines are drawn for effective use of emotional appeals. The authors have suggested future direction of research in the area of use of advertising appeal and its influence on brand attitude formation.

Customer relationship management research (1992‐2002): An academic literature review and classification

Abstract: Purpose – To review the academic literature on customer relationship management (CRM), provide a comprehensive bibliography and propose a method of classifying that literature.Design/methodology/approach – A range of online databases were searched to provide a comprehensive listing of journal articles on CRM. Six hundred articles were identified and reviewed for their direct relevance to CRM. Two hundred and five articles were subsequently selected. Each of these articles was further reviewed and classified. The review and classification process was independently verified. All papers were allocated to the main and sub‐categories based on the major focus of each paper.Findings – Papers and research on CRM falls into five broad categories (CRM – General, Marketing, Sales, Service and Support, and IT and IS) and a further 34 sub‐categories. The most popular areas covered by the papers lay in the sub‐category of CRM management, planning and strategy; and CRM general, concept, and study followed by papers in s...

On "Green Marketing"

Abstract: Green marketing stems from the degrading of ecological environment and consumer's increasing sense of(environmental) protection.The essence of green marketing is to response actively to man's increasing concern for ecological(environment) and make choices and decisions in marketing by adhering to the environmental protection principle and the(ecological) principle and building up green technology,green market and green industry.Therefore,green marketing has profound ethical connotation.However,green marketing in present Chinese enterprises is actually in conflict with the logics of enterprise behavior.

The Impact of Service Quality on Customer Loyalty: A Study of Banks in Penang, Malaysia

Abstract: The emergence of new forms of banking channels such as Internet banking, Automated Teller Machines (ATM), phone banking and also maturing financial market and global competition have forced bankers to explore the importance of customer loyalty. Therefore, studies need to focus on the changing role of the banking system and its dynamic financial market. The underlying model of SERVQUAL (Parasuraman et al., 1988) with five dimensions was used by this research to evaluate the impact of service quality on customer loyalty among bank customers in Penang, Malaysia with customer satisfaction mediating these variables. The findings show that improvement in service quality can enhance customer loyalty. The service quality dimensions that play a significant role in this equation are reliability, empathy, and assurance. The findings indicate that the overall respondents evaluate the bank positively, but still there are rooms for improvements.