Question: At a six-monthly review meet, the management of a Private sector bank in India realized they had lost a lot of customers to their competitors. An analysis of the reports indicated that bank has been unable to cultivate more profitable relationships with the customers' which impacted its growth. Customers have expressed dissatisfaction at various levels right from delays in obtaining account related information to understanding their needs, preferences, and interaction history. The management has decided to invest in information systems to help them out. How do you think CRM system will help the bank? How will it create lasting relationships with the customers? How would creating these relationships help your bank? (10 marks)