Role of Customer Relationship on Customer Satisfaction Assignment 2022

Running head: MANAGEMENT
Role of customer relationship on customers’ satisfaction
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MANAGEMENT
Table of contents
Introduction................................................................................................................................2
Discussions.................................................................................................................................2
Research gaps.............................................................................................................................6
References..................................................................................................................................7

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MANAGEMENT
Introduction
Customer satisfaction is one of an important parameters in the business context.
Customers are the agents, through which the businesses revolves. Their satisfaction helps in
increasing the revenue and the profit margin. Effective communication channels are adopted
for disseminating the essential information to the clients and the customers. These
communication channels relate with the initiatives towards improvising on the stability in the
relationship with the customers. This is applicable in all of the products and services
including the financial services products. Financial transactions on the social media platforms
are effective in terms of enhancing the trafficking of the audience towards the brand image.
Research in this context helps in gaining an insight into the approaches towards
fulfilling the needs of the clients and the customers. Mention can be made of the qualitative
research, which is beneficial for understanding the impact of customer relationship on the
customer satisfaction. Thematic analysis also proves effective for gaining an insight into the
extent to which customer relationship management is necessary for achieving large scale
customer satisfaction. Standards and quality in the financial products like cheques, credit
cards and cheque books are agents for gaining satisfaction from the customers.
This assignment attempts to conduct a literature review for gaining an insight into
impact of customer relationship on customer satisfaction.
Discussions
According to the arguments of Hegner-Kakar, Richter and Ringle (2018), emphasis is
shed on building and maintaining long term relationships, which is an essential aspect in the
current competitive context of the financial sector. In this context, the great spending capacity
of the customers is stated, which demonstrates the high spending capacity. In this case,
controversies persist in the process towards achieving customer loyalty through increasing

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the profitability. On the other hand, Losada-Otálora and Alkire (2019) is of the view that
transparency in the financial transactions is beneficial in terms of enhancing the wellbeing of
the clients and the customers. In this context, consideration of the consumer attitudes is an
effective approach towards calculating the subjective perceived ability in terms of dealing
with the challenges. The setting in this context is that of banks.
According to Soltani et al. (2018), the impact of customer relationship management
on overall organizational performance is assessed. In this context, the main aim is on
retaining the customers through the formulation of the corporate strategies to achieve growth
and development in the sales of products like cheques, passbooks, credit and debit cards
among others. Hypothetical approach is attached to the context through the incorporation of
Partial Least Squares Structural Equation Modelling. In contrast to this, Mbama and Ezepue
(2018) sheds light on the aspect of digital banking, which has expanded the scope and arena
of the supply chain network. Uploading the information of the latest innovations in the credit
and debit cards, cheques and passbooks on the social media and the websites is assistance in
terms of increasing the trafficking of the audience towards the brand image. Surveys in this
context is assistance for scanning the behaviour towards the innovations introduced in
cheques, passbooks, credit and debit cards.
As argued by Eklof, Podkorytova and Malova, (2018), essential linkages are
established between customers’ satisfaction and financial performance. Direct relationship is
projected between the variables, projecting the ratio. In this context, customer satisfaction is
perceived as a predictor of calculating the performance through the consideration of efforts
produced by investors for availing the financial services like mobile banking. Empirical tests
have been considered for using loyalty as a predictor for calculating the overall exposed
performance. On the contrary, Lorena, (2018) is of the view that quality controls and checks
standardizes the process of financial transactions. This approach enhances the corporate