logo

Customer Relationship Management: A Case Study

   

Added on  2020-01-15

16 Pages5162 Words83 Views
Research proposal1

EXECUTIVE SUMMARYCustomer Relationship Management (CRM) comprises practices, technologies and strategieswhich helps businesses to regularly interact with the customers and thereby maintain betterrelationship with them. It is an approach through which companies communicate with the existingas well as potential customers, analyse data and improve relationship. Present investigation aims atidentifying the role of CRM in the enhancing consumer loyalty. For this, Barclays bank has beenchose to evaluate and examine that how bank regulates customer relationship to regularly keep intouch with the clients. In the present investigation, interpretive philosophy, inductive approach andthematic analysis has been applied to evaluate both primary and secondary data. In this, primaryinformation has been gathered from a sample of 50 top managers of Barclays bank. Thisinvestigation will enable investigator to assess the role of CRM in maintain strong relationship withthe clients, enhance satisfaction and loyalty as well. 2

Table of ContentINTRODUCTION................................................................................................................................4Background of the Research ................................................................................................................4Literature Review ................................................................................................................................51. Need and significance of CRM strategy in Banking sector ........................................................52. Role of CRM in maintaining customer loyalty ...........................................................................63. Relationship between customer satisfaction and loyalty.............................................................74. Impact of CRM strategy on banks financial performance ..........................................................8Research Aims/Objectives ...................................................................................................................8Research Question ...............................................................................................................................9Research Methodology.........................................................................................................................9Sampling.............................................................................................................................................10Accessibility.......................................................................................................................................10Ethical Issues......................................................................................................................................11Significance ......................................................................................................................................11Deliverables........................................................................................................................................12Required Resources ...........................................................................................................................12Time Table .........................................................................................................................................12REFERENCES...................................................................................................................................143

INTRODUCTIONTitle: “The role of CRM strategy in customer loyalty, A case study of Barclays bank London”BACKGROUND OF THE RESEARCH In the present times, it becomes essential for all the organization whether private orpublic sector to maintain better relationship with the consumers. The main reasons behindthis is customers are treated as god and all the organizations highly focuses to meet theirdesires, needs and wants effectively. Developing strong relationship with the customersenable firms to enhance their satisfaction level and thereby build customer loyalty. Throughthis, they can achieve their targeted aims and objectives in an effective manner. CustomerRelationship Management (CRM) comprises practices, technologies and strategies whichhelps businesses to regularly interact with the customers and thereby maintain betterrelationship with them (Rootman, Tait and Bosch, 2008). It is an approach through whichcompanies communicate with the existing as well as potential customers, analyse data andimprove relationship. Maintaining strong relationship with the consumers is of greatimportance because it helps to increase consumer satisfaction and loyalty, which in turn,drive growth in sales. In the present era, banking sector is one of the most important service sector onwhich, the growth of economy is highly dependent. In the initial times, banks were offer onlyfew banking facilities to the clients however, with the passage of time, consumer perceptionsand demand has been changed dramatically. It is because, now-a-days, consumer becamemore aware about the changing market environment and demand services accordingly.Therefore, all the banks are striving to put their best efforts in order to strengthen therelationship with the clients (Bhaduri and Fogarty, 2016). This provide huge assistance to thebank to gain competitive advantages and maintain high loyalty.Proposed investigation is based upon Barclays bank, it is a British internationalbanking and financial service company which is headquartered in London, UK. It is a publiclimited organization which operates in banking sector and listed on London Stock Exchange(LSE). It operates in diversified areas such as retail, wholesale, wealth management,mortgage, lending, credit cards, investment banking etc. It is a universal bank which operatesin more than 50 countries over the world and providing services to 48 million customers.The bank has four core areas that are personal and Corporate banking, Barclaycard,investment banking and managing wealth as well. The current research lay emphasize on therole of CRM in the success of Barclays bank. In this investigation, different types of CRMstrategies will be evaluated through which bank can synchronize, automate and analyseconsumer data with the use of technology. With the assistance of this, researcher will be able

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Effect of Electronic Banking System on Customer Satisfaction and Loyalty in UK Banking Sector
|3
|778
|74

Customer Relationship Management - Easy Jet
|57
|14679
|46

Relationship Marketing Assignment Report
|15
|3331
|18

MARK1022 Foundation of Scholarship
|12
|3729
|253

Customer Relationship Management Impact on Customer Retention (A Case of Banks in India)
|8
|2079
|258

Information Systems and Database Management Assignment
|55
|16863
|24