Role of Data in Improving Relationship Marketing for Managing Customer Expectations and Service Excellence

This report discusses the role of data in improving relationship marketing and managing customer expectations and service excellence. It explores the strategies used by HSBC bank and the concept of STP. The report also highlights the importance of innovation in the operational activities of the firm.

SALES AND MARKETING
REPORT

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Role of data in improving relationship marketing for managing customer expectations and
service excellence........................................................................................................................3
The concept of STP in regards to chosen company.....................................................................5
Various solutions to meet customer needs and demand by evaluating specific targeted group of
company customers......................................................................................................................7
Rationale for innovation for various products and service launched by company, keeping in
mind respective customer demand trend in marketplace.............................................................9
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................13

INTRODUCTION
In an operational firm various activities are being taken place, including production,
sales, marketing and many more. A business organisation divides it respective operational tasks
into its respective department of the firm. Concerned department of the firm are then coordinated
with management efforts and give rise to sound business organisation. Sales and marketing
department of an organisation plays an important role in carrying different efforts being
produced by various staffs working in an organisation towards company's respective goals an
objective (Agostini and Nosella, 2017). In the present report, operational working of HSBC is
being taken into consideration, which is a British multinational investment and finance company
in UK origin. The company was founded by Sir Thomas Sutherland and is headquartered in
London, UK. As per the recent analysis company is identified with one of the top most bank in
entire Europe continent, with total assets count of US$2.715 Trillion. The management
department of the company plays an important part in managing large market customers of the
company and also ensures effective operational working of the workforce, keeping in mind
valuable resources of the firm (Deepak and Jeyakumar, 2019). This research paper will include
role of data in improving relationship marketing, ensuring customer satisfaction as their top most
priority. Moreover, various strategies used my concerned department of chosen firm for
managing such a high customer market of the firm is being highlighted in this document. With
addition to that, importance of innovation in carrying respective operational activities of the firm
is also being highlighted in this report.
MAIN BODY
Role of data in improving relationship marketing for managing customer expectations and
service excellence
The marketing department of a business firm plays an important role in shaping various
efforts being produced in a business firm towards successfully attainment of pre decided goals
and objectives of the firm. In the process being, marketer of various business firms collects
necessary data and information by conducting adequate research and development programs of
given marketplace of the workforce. It becomes important task for marketing department of an
organisation to analyse various taste and preferences of various market customers, wherein
company is offering its products and services to the customers. For instance, a particular area of

market is declared as a dry zone by governing body of that area. Therefore, any liquor shop will
not be able to operate its respective sales activities in that particular area. In context to chosen
organisation i.e. HSBC bank, respective marketing department of the firm ensures effective sales
activities of the corporate by analysing current market customer trend and their respective
creditability in order to function its investment and finance role in given marketplace (Dogu and
Albayrak, 2018). Volunteers of selected firm extracts data and information, relating to demands
and needs of various individuals residing in particular operational area of company working. It
enables firm to operate its various business activities effectively and allows firm to achieve pre
decided goals and objectives within given time period.
Relationship Marketing
With light to the fact that, it is better to retain a company customer then attracting a new
one. Therefore, pure dedication is being made on maintaining loyalty of various company's
customers. It involves various process including providing up of various post sales services to
their customers and also responding to various feedback given by a customer after consuming a
particular product or service of the company (Elstub and Escobar eds., 2019). In context to
HSBC bank, respective departments of the firm ensure better operational working of the
workforce, by taking use of various technologies available to a business firm. Noel Quinn, being
current CEO of respective company, intakes use of various updated technology software to cut
down hard human efforts and provides effectiveness of operations by performing up of
respective tasks, ensuring maximum output with minimum input of resources of the workforce.
Data driven marketing
Effective working of a business enterprise has to go through various uncertainties in
business environment. Due to constant changes in needs and demands of various company's
customers, it is a tough task for management of the company to keep a track on it. Therefore, in
order to effectively operate in this dynamic business environment, business firm has to run
regular research on trending demands of various customers of the company. In relation with
selected company, marketing department of firm, takes use of innovative techniques in order to
conduct marketing activities of the workforce ensuring optimal usage of valuable resources of
the firm. Respective company collects data and information of its customer trend and behaviours,
on the basis of which production department is being guided to produce accordingly. Company
uploads needful information about its service on its official websites, which helps in increasing

trustable count of customers of concerned company (Ewers and Allesch eds., 2019). They also
provide independent online platforms to their customers for publishing various comments and
thoughts regarding respective product or service delivered by the financial institute.
Therefore, it can be said that data plays a vital role in improving to relationship marketing
and also proves to be useful for bring up to the standards of company to meet respective
demands and customer expectations of company's products and services. Marketing department
with use of innovative techniques in different operational activities of the firm manages to
operate, respective business activities of the ensuring better effectiveness of the workforce.
Meeting customer’s expectation and satisfaction of various customers of the company plays an
important role being a financial institution. By maintaining effective relations with firm's
customers and responding to their feedbacks increases brand image of the company, which
enables firm to grow its operational working in wide market area.
The concept of STP in regards to chosen company
STP is a consumer centric approach for establishment of effective marketing
communication of a business firm. It consists of 3 stages, that are, dividing various customers of
the company into various segments depending on their task and preferences, demographic
conditions, age, behaviour and many more such factors. In the next step which is known as
targeting, as name suggest, various segmented groups which are formulated in previous stage is
being targeted. Marketing department of various organisation introduced various plans and
strategies, with respective to consumer behaviours of respective segmented groups and in the
final stage i.e. Positioning, in this self-analyses of position of an enterprise is being analysed that
after using certain plan for policy, where company stands on the basis of financial or operational
position. This approach helps management of a business operation to bring in effectiveness in its
various business activities and enhances productivity of the workforce by avoiding any sort of
wastage of valuable resources of the business firm (Godin and Vinck eds., 2017). In context to
chosen organisation i.e. HSBC bank, respective financial institute have 150 year of experience in
serving financial needs of customers and is an international organisation, of market presence
with 500 work structure and is serving for about 47 million happy customers in more than 70
countries across the global. The financial institute have a total count of 255000 staffs working in
the company.

Segmentation: In this element, various customers of company are divided into various
segments, to be targeted separately by implementation of various plans and strategies as their
behaviours and marketing conditions. The main aim of company is to divide its customers in into
various customer segments, as it helps in better approach towards various plans and strategies
being formulated in a business firm. In context to chosen organisation i.e. HSBC, it uses some
segmentation method to divide their respective broad market customers into constitutes of small
markets. Initially, management of the company divide its market into geographic units.
Concerned bank has for about 9500 branches in around 85 countries, which makes corporate as
the second largest bank in the world (Hidayanti, Herman and Farida, 2018). Then further,
marketing department of the company also divides their valuable customers in demographic
segments also, which includes age, gender, on the basis of income and sometimes religion. With
addition to that, they also divide their customer segments into psychographic segmentation. The
bank dedicates its marketing activity by selecting proper location, which suites best to operate its
respective operational activities.
Targeting: In the next step, respective segmented groups of the company is being
targeted. Number of plans and strategies are being developed in this stage, by doing proper
analysis of behaviours and trends of different segmented groups being separated in previous
stage. It given better response to concerned department of the company, as by implementing
various plans and strategies as per demands and trends of market customers, enhances
productivity of the business firm and also avoids wastage of valuable resources of the firm while
performing its respective operational tasks. In regards to selected bank, it offers smart card to
various students as their customers and targets high value customers by offering Premium
Centres branches to their valuable customers. Moreover, in order to attract customers, they also
sponsor in 250 cultural and sporting events, dedicated for helping youth in developing their
educations or any other are of interest.
Positioning: In this final stage of this approach, this stage is more of self-analysis rather
than performing up of any operational activity of the business firm. In this stage, self-analysis is
being done after implementing respective plans and strategies of an organisation towards its
dedicated segment (Hohenberg and Homburg, 2019). It helps in evaluating strengths and
weaknesses of various policies being dedicated towards better growth of the business firm. In
respect to chosen firm, managers and leaders of the firm, analyses its positioning, which helps in

modification in respective strategies as per current marketing trends and ensures growth of the
firm, carrying effective utilisation of resources and completion of desired goals within given time
period of the company.
Various solutions to meet customer needs and demand by evaluating specific targeted group of
company customers
With light to the fact that, various companies originate with a motive to earn profits by
aiming growth of an organisation. In current times, it has been analysed that, less than half
companies focusing on developing of various plans and strategies of the firm by bringing in
innovations to various operational activities of an organisation. Various managers and leaders of
the firm, with an approach to develop effective operational activities and to operate its respective
operational activities ensuring effective utilisation of valuable resources of the firm, adopts to
various changes and delivers respective product or service to company’s customers by following
path of innovation. Unfortunately, sometimes they end up failing, the only reason behind this is
ignoring up of alignment of respective production activities of the firm as per customers’
demands and needs. A company being customers’ centric helps in understating and building up
of effective business relation with them. It helps in firm to avoid wastage of valuable resources
being used in various production and management activities of the workforce.
With respect to chosen organisation i.e. HSBC bank, as discussed in above heading that,
concerned authorities of the firm deliver quality service to respective customers of the corporate
by dividing various groups of customers into various segments. It helps business firm as a whole
to operate effectively its various operational activities, which enhances productivity of the
business firm and takes firm towards achievement of desired goals and objectives within given
time period. Respective decision making of the firm is being taken upon analysing demands and
behaviours of various customers in the given marketplace.
For better performing of business firm, it becomes important to understand concept of
customer needs. Customer needs refers to various influential factors that motivate them to buy
any specific product or service. Operation working of selected business firm focuses on
fulfilment of respective needs and demands of various company’s customer keeping in mind,
delivering up of quality of services and products (Liu and et. al., 2019). It not only gives clear
vision to production department of the business firm, but also helps management of the firm to
effective implement respective plans and strategies in an organisation, ensuring better utilisation

of valuable resources of the business firm. In order to create a better understanding of customer
needs, concerned authorities of selected firm follows four simple steps in order to effectively
meet needs and demands of various customers of the workforce, which are Identify, Distribute,
create and collect respectively.
Identify: In this process of evaluating demands and needs of respective company’s
customers. Concerned department of an organisation dedicate its operational working in
identification of various market trends and customer is given marketplace of the workforce. with
regards to selected firm, higher authorities of the corporate, conducts primary research in
respective marketplace, wherein, various sales operations of operational firm take place. It uses
primary market research tools such as, conduction of survey, personal interview, social listening
and many more (Malik, Abdallah and Ala’raj, 2018). It helps operational firm to identify
behaviour and demand of respective customer in given marketplace of company.
Distribute: In this next step of effective meeting up of various needs and demands of
company’s customers. This step is an inclusion of dividing up of work among various
departments in workforce after identification of demand of customers. In this element, various
plans and strategies are being made with respect to needs and demands of valuable customers of
the business enterprise. In regards to chosen organisation, managers and leaders of the firm after
identifying variance in needs and demands of various individual customers of the company,
assigned tasks to various staff and department of the organisation. It helps manager of a firm to
define a clear vision completion of desired goals and objectives of an organisation.
Create: In this step, various product or service is being created which are as per needs and
wants of valuable customers of business firm. Production department of HSBC, by successfully
following above mentioned steps are able to develop their services which are according to needs
and wants of customers of company. It helps respective business firm to capture such a large
market area and satisfy company’s valuable customers by delivering them with quality service of
investments and finance.
Collect: In this final stage, which have its great importance of own. It focuses on collection
of feedbacks about various service which are delivered by company to their customers. with
reference to selected company, which is a bank, being a financial institute, there is high need for
establishment of effective relation with customers of the company. For this purpose, managers of
the company, regularly collects feedbacks asking about the quality of service being delivered by

bank. Every department of banks is dedicated towards providing excellent customer service in
order to maintain better goodwill of company in given marketplace.
Rationale for innovation for various products and service launched by company, keeping in mind
respective customer demand trend in marketplace
Exploitation to various new ideas and approaches in operational working of the business
firm helps in delivering preferably demanded products and services ensuring good quality to
respective customers of the company. This helps in increasing to productivity of an organisation
by taking various innovative way to produce a task rather than following old tradition, time
consuming methods (Näyhä, 2020). With rise of competition in respective operational fields of
various business enterprise has forced managers and leaders of the business firm to dedicate
company’s resources for formulating of effective plans and strategies, keeping in mind various
strategies of competitors of the company. In context to chosen business firm, concerned
authorities of firm, dedicate company’s valuable resources in formulation of effective plans by
using innovative techniques. Company being a financial institute, has to follow variety of
competitors while operating its operational activities. Therefore, innovation plays an important
part in achievement of desired objective of growth of the business enterprise.
Approaches to Innovation in HSBC Bank
Innovation refers to introduction of any product or service in an organisation, or finding a
different way to perform, respective operational task of an organisation, which later proves to be
effective for the business firm. In the process of innovation, firstly dedicated research is being
conducted of the given marketplace of the business organisation. An innovation must take care
of various social factors while delivering respective operational activity of a business firm. In
context to HSBC bank, marketing department of concerned organisation, undertakes various
research programs in order to evaluate its current market trend and demand of various customers
of the workforce. It proves to be a great help to marketer of organisation to establish good
reputation of company’s brand in given marketplace and initiate growth objective of the
operational firm.
Planning Innovation in HSBC Bank
Various innovative ideas are being discussed in planning function of company. Manager
and leaders of the firm, in order to implement those innovative techniques, builds specific plans
and policies being dedicated to respective innovative techniques. They undertake various

operation of business firm to form, innovative strategies in respect to ongoing customer trends in
given marketplace of the workforce (Santouridis and Veraki, 2017). Planning an innovation
directs respective operational activity of an organisation towards providing a clear vision of
goals and objectives. This helps in effective utilising of company’s resources and ensures better
productivity of business firm by establishing effective coordination between respective
departments of the workforce.
Encouraging Innovation in HSBC Bank
There are various ways in which a particular task can be performed. Management
department of chosen firm, undertakes use of various innovative techniques for operating, its
business activities. Innovation helps in bringing in effectiveness to various operational activities
and also builds uniqueness of product or service being produced in the business firm. Managers
and leaders of the firm, in order to successfully adopt to various innovative techniques to
perform respective task of operational firm, ensures providing up of various encouragement to
respective staffs working in an organisation, by highlighting advantages of using particular
innovative approach (Schmeltz, 2017). Therefore, concerned high department of the workforce
undertakes various steps in order to promote innovation in their working structure, which are as
follows:
 Making sure that processes and events that re to be delivered to various individuals
includes idea.
 Creation of supportive atmosphere in an organisation.
 Encouragement of risk taking and experimental approach in an organisation. It will help
in performing up of various operational task without any fear and also might prove to
be beneficial in future for company as well as staffs working in the company.
 Promoting freedom of speech in an organisation. It will encourage every staff working
in the organisation to keep their view point about various plans and policies being
adopted by the business firm.
 Lowering the burden of work in an organisation.
 Providing appraisals and rewards to respective employee who contributed towards
successful innovation of an organisation.
Therefore, managers and leaders of HSBC bank, ensures enough encouragement
approaches, while conducting operational activities of the operational firm. It helps management

of firm to deliver best quality service to their customer keeping in kind current market trends and
demands as well as expectations of customers towards company products and services.
Innovating approach of the company separates, company’s services and helps in delivering
unique product and service to various customers of the company.
Funding Innovation in HSBC Bank
In this separating financial resources for investing it in respective innovative activities of
the business firm is being initiated (Singh, Singh and Mishra, 2021). Financial department of the
business firm separates sufficient amount of financial resources for conducting various
innovative activities of the business firm. It is to be believed by respective managers and leaders
of the workforce that, currency which is being utilised in innovative activities of firm should be
charged against investment to a firm rather than as an expense (Unnithan, 2018). With this belief,
they are able to establish better coordination between respective departments of an organisation
and also ensures better productivity of business firm through avoiding up of wastage of valuable
resources of the workforce. Therefore, by keeping adequate resources for innovative activities of
the firm, helps in building up of confidence of taking wild decision in business firm, which later
contributes towards achievement of desired goals and objectives ensuring better productivity of
the firm.
CONCLUSION
From the above analysis of research paper, which acknowledge importance of building up of
effective customer relation with view to conduct respective operational activities of the company
effectively. With light to the fact that, various business enterprise fails to operate its operational
activities in given marketplace of the workforce, due to ignoring up of customer’s satisfaction.
Current meta for key to success for business organisation is been set towards delivering up of
various products and services, as per demands and needs of various customers of the company.
Concerned higher authorities of business firm, along with adopting innovative operational
methods, also focuses on customer centric approach, ensuring effective delivering up of various
services to their customers. With addition to that, this research paper highlight various plans and
strategies undertaken in order to deliver quality services to respective companies customers.
Operational management department of concerned firm undertakes various activities, to analyse
demands and current market trends of various consumers of respective product or service and
also collects regular feedbacks from their customers asking about quality of product or service

being delivered to them. Moreover, various steps are being taken in regards to development of
respective product or service of the company, by doing required modification, ensuring
satisfaction of company's customers at the top most priority.

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