The main objective of the study is to explore customer relationship marketing as a competitive tool at Best Point Savings and Loans Limited. A cross-sectional research and quantitative approach was adopted for the study. A non-random quota sampling technique was used to select a sample size of 20 staff members. Questionnaires were adopted to collect data from the staff. Data was descriptively analyzed. Findings from the study revealed that Customer Relationship Marketing strategy in Best Point Savings and Loans Limited to create and retain profitable customers
Customer Relationship Management and Banking Sector Market Share performanceinventionjournals
The influence of customer relationship management (CRM) on Nigeria banking sector market share performance is the focus of this study. It examined the influence of customer identification, customer retention and technology on customer relationship management and banks market share performance. The ever increasing competition and dynamics in the market place and the need for banks to survive, grow and meet the stakeholders objectives calls for a meaningful long lasting relationship between marketers and all other stakeholders in the organisation. The population of this study consists of all 617 headquarters employees of the 21 deposit money banks in Port Harcourt metropolis that is registered with Nigeria Deposit Insurance Corporation (NDIC); while the sample size of 243 determined through the Tara Yamani formula. Questionnaire was used as an instrument for primary data collection. The Spearman’s Rank Order Correlation was the statistical technique employed for hypothesis testing in the statistical package for social sciences (SPSS) version 17. The findings of this study revealed that there is significant relationship between customer identification, retention, and market share; while technology positively influence CRM and bank market share performance. Customer identification and retention are dimensions of CRM, while market share is the measure of performance, with technology as moderating variable influence between CRM as a measure of bank performance. It is therefore noted that banks will have better competitive advantage when all relevant stakeholders appreciate and demonstrate these customer relationship management strategies with a view of achieving the desired corporate objectives.
Customer relationship marketing is an emerging customer innovation focused on growing customer’s
satisfaction, retention and loyalty that will culminate into bank profitability. The paper investigated the impact
of investment in implementing customer relationship marketing on the performance of commercial banks in
Nigeria. The study was carried out in Federal capital territory Abuja,
Marketing Performance Analysis by Customer Relationship Marketing, Market Ori...inventionjournals
This study tried to determine and analyze the performance of marketing through customer relationship marketing (CRM), market orientation, and the image of Islamic Banks in Kediri, East Java, Indonesia. The population in this study some 65 873 customers who have savings in five Islamic Banks. Testing of the model is done with Generalized Least Square Estimation (GLS), analysis of structural equation modeling (SEM), proportional random sampling method and software assistance Amos 22, on 397 respondents. The test results model (fit) seen from the GFI, AGFI, TLI, CFI, RMSEA and CMIN / DF, each of which amounted to 0.915, 0.901, 0.949, 0.953, 0.063 and 1.497 are all that are in the range of expected values so that the model can be accepted.The results showed that: customer relationship marketing (CRM), market orientation, and image effect on the competitive advantage of Islamic Banks in Kediri. CRM, and market orientation affect the marketing of Islamic Banks Performance in Kediri. The company's image does not affect the marketing of Islamic Banks Performance in Kediri.It is suggested that the bank to constantly improve its image. This can be done by giving the concern for the surrounding community as the company's involvement with social activities. Thus the social programs that the company will be able to form a personality, raise the reputation of companies before the general public.
A STUDY WITH SPECIAL REFERENCE TO BANKING INDUSTRY IN INDIAIAEME Publication
Customer Relationship Management (CRM) has emerged as a popular business strategy in today’s competitive environment. It is a discipline which enables the business to identify and target their most profitable customers. CRM involves new and advance marketing strategies which not only retain the existing customers but also acquire new customers. It has been invented as a unique technique capable of remarkable changes in total output of companies. CRM in financial services industry is a cyclical process which starts with definition of customer expectations which are difficult to manage but are often the cause of dissonance which results in loss of existing customer base.
The Influence Of Relationship Marketing On Switching Barrier, Customer Satisf...inventionjournals
This study was aimed at testing and analyzing influence of relationship marketing on switching barrier, customer satisfaction, customer trust, and customer retention. The study was conducted with respondents of 141 Emerald BNI BANK customers in Indonesia. Data were collected by using instruments of questionnaires. The test on the model was done using structural equation model analysis with GSCA approach. Switching barrier significantly influenced on customer satisfaction and customer trust. Furthermore, customer satisfaction and customer trust significanly influenced on customer retention. Partially, it was identified that variable of customer trust was the most dominant variable influencing on the customer retention.
Customer Relationship Management and Banking Sector Market Share performanceinventionjournals
The influence of customer relationship management (CRM) on Nigeria banking sector market share performance is the focus of this study. It examined the influence of customer identification, customer retention and technology on customer relationship management and banks market share performance. The ever increasing competition and dynamics in the market place and the need for banks to survive, grow and meet the stakeholders objectives calls for a meaningful long lasting relationship between marketers and all other stakeholders in the organisation. The population of this study consists of all 617 headquarters employees of the 21 deposit money banks in Port Harcourt metropolis that is registered with Nigeria Deposit Insurance Corporation (NDIC); while the sample size of 243 determined through the Tara Yamani formula. Questionnaire was used as an instrument for primary data collection. The Spearman’s Rank Order Correlation was the statistical technique employed for hypothesis testing in the statistical package for social sciences (SPSS) version 17. The findings of this study revealed that there is significant relationship between customer identification, retention, and market share; while technology positively influence CRM and bank market share performance. Customer identification and retention are dimensions of CRM, while market share is the measure of performance, with technology as moderating variable influence between CRM as a measure of bank performance. It is therefore noted that banks will have better competitive advantage when all relevant stakeholders appreciate and demonstrate these customer relationship management strategies with a view of achieving the desired corporate objectives.
Customer relationship marketing is an emerging customer innovation focused on growing customer’s
satisfaction, retention and loyalty that will culminate into bank profitability. The paper investigated the impact
of investment in implementing customer relationship marketing on the performance of commercial banks in
Nigeria. The study was carried out in Federal capital territory Abuja,
Marketing Performance Analysis by Customer Relationship Marketing, Market Ori...inventionjournals
This study tried to determine and analyze the performance of marketing through customer relationship marketing (CRM), market orientation, and the image of Islamic Banks in Kediri, East Java, Indonesia. The population in this study some 65 873 customers who have savings in five Islamic Banks. Testing of the model is done with Generalized Least Square Estimation (GLS), analysis of structural equation modeling (SEM), proportional random sampling method and software assistance Amos 22, on 397 respondents. The test results model (fit) seen from the GFI, AGFI, TLI, CFI, RMSEA and CMIN / DF, each of which amounted to 0.915, 0.901, 0.949, 0.953, 0.063 and 1.497 are all that are in the range of expected values so that the model can be accepted.The results showed that: customer relationship marketing (CRM), market orientation, and image effect on the competitive advantage of Islamic Banks in Kediri. CRM, and market orientation affect the marketing of Islamic Banks Performance in Kediri. The company's image does not affect the marketing of Islamic Banks Performance in Kediri.It is suggested that the bank to constantly improve its image. This can be done by giving the concern for the surrounding community as the company's involvement with social activities. Thus the social programs that the company will be able to form a personality, raise the reputation of companies before the general public.
A STUDY WITH SPECIAL REFERENCE TO BANKING INDUSTRY IN INDIAIAEME Publication
Customer Relationship Management (CRM) has emerged as a popular business strategy in today’s competitive environment. It is a discipline which enables the business to identify and target their most profitable customers. CRM involves new and advance marketing strategies which not only retain the existing customers but also acquire new customers. It has been invented as a unique technique capable of remarkable changes in total output of companies. CRM in financial services industry is a cyclical process which starts with definition of customer expectations which are difficult to manage but are often the cause of dissonance which results in loss of existing customer base.
The Influence Of Relationship Marketing On Switching Barrier, Customer Satisf...inventionjournals
This study was aimed at testing and analyzing influence of relationship marketing on switching barrier, customer satisfaction, customer trust, and customer retention. The study was conducted with respondents of 141 Emerald BNI BANK customers in Indonesia. Data were collected by using instruments of questionnaires. The test on the model was done using structural equation model analysis with GSCA approach. Switching barrier significantly influenced on customer satisfaction and customer trust. Furthermore, customer satisfaction and customer trust significanly influenced on customer retention. Partially, it was identified that variable of customer trust was the most dominant variable influencing on the customer retention.
Customer relationship managment in banking industryTapasya123
Customer Relationship Management is human function than technology
implementation. Banks need to constantly orient their employees and
vendors towards never losing focus of the customers, technology can be
harnessed to unable the human aspect to function more effectively. A
successful relationship will be one that lowers the business cost, increase
the company revenue and retains profitable relationship, win situation for
the company business and its valuable assets and business customers. The
banking business is becoming more and more complex with the changes
emerging from the liberalisation and globalisation. For new banks,
customer creation is important but established bank retention is much
more necessary with cost effective mechanism. The big benefit of customer
relationship management is the visibility of everything relating to
customers going on in your company. If an organization wants to provide
the better service to customers, it has to be able to manage everything
from complaints to sale opportunities. The core theme of all customer
relationship management and relationship marketing perspectives is to
focus on cooperative, collaborative relationship between the firm and its
customers and look after the marketing factors. Through this paper
researcher want to show the significance of customer relationship
management and also made as effort to explore the benefits of this concept
to banking industry.
Customer Relationship Management is human function than technology
implementation. Banks need to constantly orient their employees and
vendors towards never losing focus of the customers, technology can be
harnessed to unable the human aspect to function more effectively. A
successful relationship will be one that lowers the business cost, increase
the company revenue and retains profitable relationship, win situation for
the company business and its valuable assets and business customers. The
banking business is becoming more and more complex with the changes
emerging from the liberalisation and globalisation. For new banks,
customer creation is important but established bank retention is much
more necessary with cost effective mechanism. The big benefit of customer
relationship management is the visibility of everything relating to
customers going on in your company. If an organization wants to provide
the better service to customers, it has to be able to manage everything
from complaints to sale opportunities. The core theme of all customer
relationship management and relationship marketing perspectives is to
focus on cooperative, collaborative relationship between the firm and its
customers and look after the marketing factors. Through this paper
researcher want to show the significance of customer relationship
management and also made as effort to explore the benefits of this concept
to banking industry.
Keywords: Customer Relationship Management, Efficiency, Customer Expectation.
Impact of Customer Relationship Management on Customers loyalty . Falana Temitope
A survey research on the impact of Customer Attraction , Customer retention, Customer satisfaction programs on Customers loyalty. In Asaba, Delta State, NIgeria .
A Study on Customer Relationship Marketing in Banking Sectorpaperpublications3
Abstract: Modern Marketing Philosophy advocates the concept of customer relationship marketing that creates customer delight. In the banking field a unique relationship exists between the customers and the bank. Due to various reasons like financial burdens, risk of failure, marketing inertia etc., many banks are still following the traditional ways of marketing and only few banks are making attempts to adapt customer relationship marketing. The role of custom er relationship marketing is very vital in leading the banks towards high level and volume of profits. So there is a need to study the role of customer relationship marketing in development and promotion of banking sector through the side-lines of the practices, problems and impact of CRM on banking sector all the time.
Ataullah Muneeb and Matiullah Shinwari. “Customer Relation Management (CRM) and its Impact on Organizational Performance: A Case of Etisalat Telecommunication in Afghanistan” United International Journal for Research & Technology (UIJRT) 1.4 (2019): 01-09
This paper investigate the impact of internal marketing practices on customer loyalty
dimensions of African Community Credit Bank (CCA-Bank). The empirical analysis is based on structural
Equation Model (SEM) preceded by an exploratory and confirmatory analysis. This study used a convenient
sample of 60 employees and 372 customer obtained through a survey that was distributed in three towns,
namely: Yaoundé, Douala and Dschang.
Investigate the impact of csr on brand perception. a case study of mtn in nig...iWant tutor
Every organization gets involved in one or the other activities so as to promote their company and its product. As discussed earlier, the MTN requires striving for contribution towards the society’s wellbeing to try and present a favorable business image. The consumers, no more, tend to be examining the corporate feedback to the society seriously. The CSR initiatives by the MTN include the categories of economic empowerment, education and health. Finding out the extent of consumer’s positive perception towards the MTN brand can be enhanced by the CSR initiatives. Even the marketing managers would be benefited by this research as it will be help them preparing marketing plan and strategies based on the results.
1. Definition and importance of Relationship Marketing
2. Evolution of Relationship Marketing
3. Fundamental Principles of Relationship Marketing
4. Expanded Marketing Mix
5. Drivers of Relationship Marketing
6. Elements of Relationship Marketing: Quality, Customer Service and Marketing
A Study on Customer Relationship Management at Yamaha Srinivasa Motors Puduch...ijtsrd
Most of the two wheeler industry focuses on customer relationship management these days. The first and foremost necessity is to satisfy the existing customers and make them come back for a repurchase of their products. This means Yamaha should concentrate on its customers. The aim of the study is to find the customer relationship management and brand loyalty at Yamaha Srinivasa Motors Puducherry. The relation between CRM and Brand Loyalty is also assessed. Primary and secondary data were used for the study. CRM questionnaire was used to collect primary data. Eighty samples are selected at random from a population of 100 customers. The data were analyzed using the spearmen coefficient of correlation and ANOVA. Suitable suggestions and conclusions were made from the findings of the study. Poorani. R | Arulselvi. T | Junojasmine. J "A Study on Customer Relationship Management at Yamaha Srinivasa Motors Puducherry" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-3 | Issue-6 , October 2019, URL: https://www.ijtsrd.com/papers/ijtsrd29182.pdf Paper URL: https://www.ijtsrd.com/management/marketing/29182/a-study-on-customer-relationship-management-at-yamaha-srinivasa-motors-puducherry/poorani-r
Relationship Marketing Strategies in Banking Sector: A ReviewIJBBR
The paper is review of relationship marketing strategies prevalent in Banking Sector. In this era of mature and intense competitive pressures, it is imperative that banks maintain a loyal customer base. Nowadays, banks realize the importance ofRelationship Marketing. Relationship marketing offers benefits to the banks,
customers as wellas employees of the organization. Relationship Marketing gives the banks way to developmutually beneficial and valuable long term relationships. These long term relationships are further helping banks in reducing operating cost and attracting new customers.
Customer is a king and Customers are the mainly focused in making new marketing strategy. In the banking field a unique relationship exists between the customers and the bank. But because of various reasons like lack of training ,new technology literacy, financial targets, risk of failure etc., some banks are still following the traditional ways of marketing and another hand some are making attempts to adapt CRM. It is with this background, the researcher has made a modest attempt towards the idea that CRM can be adapted uniformly in the banking industry for betterment of Banking Services. Understanding on Customer Relationship Management is always a concern among the service providers especially banks. Banks makes their own way of managing their relationships new and existing customers. The aim of this paper is to examine the Customer Relationship Management as a new methodology looks forward to identify and attract consumers through the process of developing relationships (business - customer). The methodology of the CRM aims to maintain customer satisfaction and increase consumer loyalty. The purpose of this paper is to study the importance of CRM systems and in-depth knowledge of methods and management techniques customer relationships.
The main issue of this study is that CRM has become a multi-faceted and complex phenomenon that is ridden by various factors. Due to this complexity, a number of different variables have been used to measure CRM which investigated by several prior studies. However, most of businesses need to know and look at the particular measures and dimensions of the CRM that have a significant impact on customer satisfaction and loyalty, which would enrich the business' performance, especially with the increase in competition as well as lack of differentiation in providing a service. This paper aimed to review literature on CRM and to identify its impact on customer satisfaction and customer loyalty. The studies are analyzed on the basis of some general characteristics and variables that significantly enhance CRM and its influence on customer satisfaction and customer loyalty. For this purpose, we investigate the existing literature on the impact of CRM on customer satisfaction and customer loyalty along with its spread among publications to identify the potential development in the field.
MBA Projects, synopsis, and synopsis of various regular as well as distance learning undergraduate and postgraduate courses for various institutions like SMU – Sikkim Manipal University, SMUDE, AIMA, AMITY, IGNOU, SCDL, JAMIA, AMU, JHU etc.
Customer relationship managment in banking industryTapasya123
Customer Relationship Management is human function than technology
implementation. Banks need to constantly orient their employees and
vendors towards never losing focus of the customers, technology can be
harnessed to unable the human aspect to function more effectively. A
successful relationship will be one that lowers the business cost, increase
the company revenue and retains profitable relationship, win situation for
the company business and its valuable assets and business customers. The
banking business is becoming more and more complex with the changes
emerging from the liberalisation and globalisation. For new banks,
customer creation is important but established bank retention is much
more necessary with cost effective mechanism. The big benefit of customer
relationship management is the visibility of everything relating to
customers going on in your company. If an organization wants to provide
the better service to customers, it has to be able to manage everything
from complaints to sale opportunities. The core theme of all customer
relationship management and relationship marketing perspectives is to
focus on cooperative, collaborative relationship between the firm and its
customers and look after the marketing factors. Through this paper
researcher want to show the significance of customer relationship
management and also made as effort to explore the benefits of this concept
to banking industry.
Customer Relationship Management is human function than technology
implementation. Banks need to constantly orient their employees and
vendors towards never losing focus of the customers, technology can be
harnessed to unable the human aspect to function more effectively. A
successful relationship will be one that lowers the business cost, increase
the company revenue and retains profitable relationship, win situation for
the company business and its valuable assets and business customers. The
banking business is becoming more and more complex with the changes
emerging from the liberalisation and globalisation. For new banks,
customer creation is important but established bank retention is much
more necessary with cost effective mechanism. The big benefit of customer
relationship management is the visibility of everything relating to
customers going on in your company. If an organization wants to provide
the better service to customers, it has to be able to manage everything
from complaints to sale opportunities. The core theme of all customer
relationship management and relationship marketing perspectives is to
focus on cooperative, collaborative relationship between the firm and its
customers and look after the marketing factors. Through this paper
researcher want to show the significance of customer relationship
management and also made as effort to explore the benefits of this concept
to banking industry.
Keywords: Customer Relationship Management, Efficiency, Customer Expectation.
Impact of Customer Relationship Management on Customers loyalty . Falana Temitope
A survey research on the impact of Customer Attraction , Customer retention, Customer satisfaction programs on Customers loyalty. In Asaba, Delta State, NIgeria .
A Study on Customer Relationship Marketing in Banking Sectorpaperpublications3
Abstract: Modern Marketing Philosophy advocates the concept of customer relationship marketing that creates customer delight. In the banking field a unique relationship exists between the customers and the bank. Due to various reasons like financial burdens, risk of failure, marketing inertia etc., many banks are still following the traditional ways of marketing and only few banks are making attempts to adapt customer relationship marketing. The role of custom er relationship marketing is very vital in leading the banks towards high level and volume of profits. So there is a need to study the role of customer relationship marketing in development and promotion of banking sector through the side-lines of the practices, problems and impact of CRM on banking sector all the time.
Ataullah Muneeb and Matiullah Shinwari. “Customer Relation Management (CRM) and its Impact on Organizational Performance: A Case of Etisalat Telecommunication in Afghanistan” United International Journal for Research & Technology (UIJRT) 1.4 (2019): 01-09
This paper investigate the impact of internal marketing practices on customer loyalty
dimensions of African Community Credit Bank (CCA-Bank). The empirical analysis is based on structural
Equation Model (SEM) preceded by an exploratory and confirmatory analysis. This study used a convenient
sample of 60 employees and 372 customer obtained through a survey that was distributed in three towns,
namely: Yaoundé, Douala and Dschang.
Investigate the impact of csr on brand perception. a case study of mtn in nig...iWant tutor
Every organization gets involved in one or the other activities so as to promote their company and its product. As discussed earlier, the MTN requires striving for contribution towards the society’s wellbeing to try and present a favorable business image. The consumers, no more, tend to be examining the corporate feedback to the society seriously. The CSR initiatives by the MTN include the categories of economic empowerment, education and health. Finding out the extent of consumer’s positive perception towards the MTN brand can be enhanced by the CSR initiatives. Even the marketing managers would be benefited by this research as it will be help them preparing marketing plan and strategies based on the results.
1. Definition and importance of Relationship Marketing
2. Evolution of Relationship Marketing
3. Fundamental Principles of Relationship Marketing
4. Expanded Marketing Mix
5. Drivers of Relationship Marketing
6. Elements of Relationship Marketing: Quality, Customer Service and Marketing
A Study on Customer Relationship Management at Yamaha Srinivasa Motors Puduch...ijtsrd
Most of the two wheeler industry focuses on customer relationship management these days. The first and foremost necessity is to satisfy the existing customers and make them come back for a repurchase of their products. This means Yamaha should concentrate on its customers. The aim of the study is to find the customer relationship management and brand loyalty at Yamaha Srinivasa Motors Puducherry. The relation between CRM and Brand Loyalty is also assessed. Primary and secondary data were used for the study. CRM questionnaire was used to collect primary data. Eighty samples are selected at random from a population of 100 customers. The data were analyzed using the spearmen coefficient of correlation and ANOVA. Suitable suggestions and conclusions were made from the findings of the study. Poorani. R | Arulselvi. T | Junojasmine. J "A Study on Customer Relationship Management at Yamaha Srinivasa Motors Puducherry" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-3 | Issue-6 , October 2019, URL: https://www.ijtsrd.com/papers/ijtsrd29182.pdf Paper URL: https://www.ijtsrd.com/management/marketing/29182/a-study-on-customer-relationship-management-at-yamaha-srinivasa-motors-puducherry/poorani-r
Relationship Marketing Strategies in Banking Sector: A ReviewIJBBR
The paper is review of relationship marketing strategies prevalent in Banking Sector. In this era of mature and intense competitive pressures, it is imperative that banks maintain a loyal customer base. Nowadays, banks realize the importance ofRelationship Marketing. Relationship marketing offers benefits to the banks,
customers as wellas employees of the organization. Relationship Marketing gives the banks way to developmutually beneficial and valuable long term relationships. These long term relationships are further helping banks in reducing operating cost and attracting new customers.
Customer is a king and Customers are the mainly focused in making new marketing strategy. In the banking field a unique relationship exists between the customers and the bank. But because of various reasons like lack of training ,new technology literacy, financial targets, risk of failure etc., some banks are still following the traditional ways of marketing and another hand some are making attempts to adapt CRM. It is with this background, the researcher has made a modest attempt towards the idea that CRM can be adapted uniformly in the banking industry for betterment of Banking Services. Understanding on Customer Relationship Management is always a concern among the service providers especially banks. Banks makes their own way of managing their relationships new and existing customers. The aim of this paper is to examine the Customer Relationship Management as a new methodology looks forward to identify and attract consumers through the process of developing relationships (business - customer). The methodology of the CRM aims to maintain customer satisfaction and increase consumer loyalty. The purpose of this paper is to study the importance of CRM systems and in-depth knowledge of methods and management techniques customer relationships.
The main issue of this study is that CRM has become a multi-faceted and complex phenomenon that is ridden by various factors. Due to this complexity, a number of different variables have been used to measure CRM which investigated by several prior studies. However, most of businesses need to know and look at the particular measures and dimensions of the CRM that have a significant impact on customer satisfaction and loyalty, which would enrich the business' performance, especially with the increase in competition as well as lack of differentiation in providing a service. This paper aimed to review literature on CRM and to identify its impact on customer satisfaction and customer loyalty. The studies are analyzed on the basis of some general characteristics and variables that significantly enhance CRM and its influence on customer satisfaction and customer loyalty. For this purpose, we investigate the existing literature on the impact of CRM on customer satisfaction and customer loyalty along with its spread among publications to identify the potential development in the field.
MBA Projects, synopsis, and synopsis of various regular as well as distance learning undergraduate and postgraduate courses for various institutions like SMU – Sikkim Manipal University, SMUDE, AIMA, AMITY, IGNOU, SCDL, JAMIA, AMU, JHU etc.
CUSTOMERS SATISFACTION TOWARDS CRM PRACTICES ADHERED BY PUBLIC SECTOR BANKS I...IAEME Publication
In a country, banking sector servers as the foundation on which the pillars of economic growth and development can be constructed. With the major reforms in banking sector, the scenario of bank market has been changed. Target market of banking sector has become highly competitive, dynamic and fragmented. Hence, there is a need for a shift from the transactional marketing strategy to relationship-based marketing strategy in all the banks. The current study attempts to conduct a study of deployment of CRM Practices Adopted by Public Sector Banks in E-Banking Era specific to an Indian Public sector bank, The research objective involves describing how the selected bank is deploying the CRM Best Practices toward building relationships with their customers.
A study of Data Mining concepts used in Customer Relationship Management (CRM...IJSRD
Customer relationship management (CRM) has evolved as an approach based on generating positive relationships with customers, increasing customer loyalty, and expanding customer lifetime value [1]. To understand the needs of customers and providing value-added services are recognized as factors that regulate the success or failure of the organizations. In the recent years, technology enhancement made customer relationship easier in various fields such as marketing, sales, service and Management Information Technology [2]. To deliver customer value, there are concepts such as data mining and data warehousing with the use of technology. Even through data mining concepts, organizations can easily find out their valuable customers and helps in making better decisions. There are data mining tools which answer business questions that were time-consuming consuming in the past. These tools simplify these questions and make customer relationship management effective [3]. This researcher work is focused on understanding the consumer’s behavior for themed weddings. The themed weddings management strategies are based on technology, business and customer perspectives. The customer preferences are measured using Regency, Frequency and Monetary (RFM) method. Business strategies are defined to understand the customer preference towards themed weddings management and the technologies such as WEB 2.0 and data mining tool Weka are used. The survey technique, and thematic content analysis using data mining tools, to accomplish the goals of today’s customer relationship management philosophy for themed weddings management.
CUSTOMERS PERCEPTION TOWARDS CRM PRACTICES ADOPTED BY PUBLIC SECTOR BANKS IN ...IAEME Publication
The CRM practices are adopted to generate better understanding of the customers for product development, segmentation, appropriate targeting, campaign management and maintenance of long term profitable and mutually beneficial relationships with customers. A very small proportion of its potential has been utilized. Today's banking is known as Innovative banking. Driven by new technologies, changing customer preferences, and increased competition, banks have taken to heavy investments in new distribution channels like advance automated teller machines, telephone systems, and online banking, etc. The research work is an empirical study intended to explore the technological revolution that the commercial banks witnessed and how far it has benefited banks to build better customer relationship management (CRM) services of public sector banks.
Marketers keep on evolving ways and means to attract as well as
retain the customers. During the last few decades, the marketing practices have
been changed rapidly. The consumers now wish to be associated with those
organisations and brands, which are ethical and follow high standards of
integrity. Such aspects have been incorporated in the concept of Marketing 3.0,
which is based on value-based matrix (VBM). The present study empirically
predicts the construct of VBM in the banking industry context. The sample size
of the study is 283. The logistics ordinal regression was applied with 27 items
to identify the predictive constructs of value-based banking. ‘Selection of bank
based on value system’ was the dependent variable and the independent
variables contained 25 statements covering value-based banking along with
2 covariates ‘age’ and ‘education’. It was found that ‘value-based banking’ and
‘education’ have significant impact on the dependent variable.
The Relationship between Customer Knowledge Management, Customer Relationship...inventionjournals
ABSTRACT: This study was aimed to assess the relationship between customer knowledge management and customer relationship management, with organizational innovation and customer loyalty (for consumers and retailers of protein industry in Isfahan province). The statistical population consisted of all employees (1385 people) and customers of nine production and distribution groups of the protein products in Isfahan province. Corresponding to the number in each group, stratified random sampling was made based on the contributions made, and 451 questionnaires were analyzed regarding the number of people in each group. The findings showed that there was a significant correlation between customer loyalty and customer relationship management, customer knowledge management and organizational innovation (P<0.01). The values of effective coefficients; β, showed that for every unit increase in innovation, knowledge management, and customer relationship management, the customer loyalty was increased 0.332, 0.331 and 0.331 units, respectively. According to the results of this study, it could be suggested that the protein industry retailers, must incorporate knowledge based and relationship marketing tools, such as customer relationship management, and customer knowledge management, for implementing customer loyalty strategies. Results of this study showed that organizational innovation should be considered as the first priority for implementing loyalty strategies of the organization.
CUSTOMER RELATIONSHIP MANAGEMENT PRACTICES IN SELECT PUBLIC AND PRIVATE SECTO...indexPub
In the ever-evolving landscape of the banking sector, adopting a customer-centric approach stands as a pivotal strategy for attaining sustainable competitive advantage. This study delves into the realm of Customer Relationship Management (CRM) practices within public and private sector banks in Chengalpattu District, unraveling the intricacies of their implementation and effectiveness. With a keen focus on customer retention and satisfaction, the research employs an exploratory approach to scrutinize various dimensions of CRM practices. The primary objective is to assess the contribution of CRM practices in crafting a sustainable competitive edge by comprehending and exceeding customer expectations.
Similar to Customer Relationship Marketing (CRM) as a Competitive Tool, a Study at Best Point Savings and Loans Limited-Suame Branch (20)
Many countries have seen the importance of financial education by making financial
education a national strategy. In Vietnam, although the National Strategies for Inclusive Financial
Education has been proposed since 2017 and officially included in the National Financial Inclusion
Strategy in 2020, however, financial education is still quite new, and many people are not aware of
the necessity of financial l
Today, in the rapidly emerging globalization process, increasing the competitiveness of enterprises
depends on increasing of their firm performance. Although there are many methods and techniques affecting
firm performance, Information technology (IT) capabilities has become one of the most widely used method,
especially in dealing with supply chain matters of a firm. The aim of our study is to express whether innovation
and organization learning is effective as intermediate variable to the effects of IT capabilities at firm’s
performance. The opinion which claim
Globally, the number of startup companies has rapidly expanded during the last 5-8 years. Offering
products and/or services that greatly enhance the lives of its clients is a major focus for these firms. In India,
local and federal government initiatives have provided new enterprises and entrepreneurs with much
momentum and assistance, helping India become the world's top startup location. The Government of India
(GOI) launched the "Startup India" campaign in 2015 to promote entrepreneurship and support businesses to
achieve this goal (Babu, S., Sridevi, K.,2019). An IBM Center for Business Value and Oxford Economics study
in 2018 found that 90% of Indian companies fail within the first five years of operation. Potential difficulties
that startups may run across, both generally and specifically in the Indian market, have been described by
several authors.
Behaviour finance is the study of how psychological phenomena affect financial behaviour. This
financial science is used in making financial decisions. Amid the development of the digital economy, paylater
innovation has emerged. It is feared that the ease of use of paylater can have a negative impact, one of which is
the attitude of impulsive buying. This research will analyze the effect of financial literacy, self-control, risk
perception, and percieved ease of use on impulsive buying behaviour. This research is based on Decision Affect
Theory, which is a theory that discusses financial decision behaviour that is influenced by self-emotion. This
research is uses purposive sampling wi
Improving the business environment is one of the key strategies to promote local and regional
economic development. However, which factors affect the business environment of the provinces is still
controversial. Using survey data from 400 investors and managers and a multivariate regression analysis
method, this study has identified the factors affecting the business environment of Hai Phong province. The
analysis results show that there are 09 factors affecting the business environment of Hai Phong City, including
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Introduction to Indian Financial System ()Avanish Goel
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how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
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The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Cardnickysharmasucks
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how to sell pi coins at high rate quickly.DOT TECH
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
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how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
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#pinetwork
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Customer Relationship Marketing (CRM) as a Competitive Tool, a Study at Best Point Savings and Loans Limited-Suame Branch
1. International Journal of Business Marketing and Management (IJBMM)
Volume 3 Issue 3 March 2018, P.P.12-27
ISSN: 2456-4559
www.ijbmm.com
International Journal of Business Marketing and Management (IJBMM) Page 12
Customer Relationship Marketing (CRM) as a Competitive Tool,
a Study at Best Point Savings and Loans Limited-Suame Branch
Abstract: The main objective of the study is to explore customer relationship marketing as a competitive tool
at Best Point Savings and Loans Limited. A cross-sectional research and quantitative approach was adopted for
the study. A non-random quota sampling technique was used to select a sample size of 20 staff members.
Questionnaires were adopted to collect data from the staff. Data was descriptively analyzed. Findings from the
study revealed that Customer Relationship Marketing strategy in Best Point Savings and Loans Limited to
create and retain profitable customers. A successful implementation of Relationship Marketing by winning
confidence and loyalty of customers, developing customer-centric processes, customer information and
knowledge generation capabilities, and selecting and implementing technology solutions using employee
empowerment. The various ways in which Best Point Savings and Loans Limited implement Customer
Relationship Marketing strategies include; Service quality, Price perception, Customer profitability (Add-on
Selling), Brand Image, Customer Equity, Customizing the Relationship, Service Augmentation, and Internal
Marketing. The benefits of Customer Relationship Marketing as a competitive tool at Best Point Savings
included; develop and strengthens customer trust. Customer Relationship Marketing as a competitive tool can
be related to the 4Ps. Generally, CRM allows businesses to develop long-term relationships with established and
new customers while helping restructure corporate performance.
Keywords: Customer Relationship Marketing, Competitive Tool
I. Introduction
Developing good customer relationship is essential in determining their loyalty behaviours and the crucial
factor that provides a company with a competitive advantage. Relationship marketing is defined as “company
behaviour with the purpose of establishing, maintaining and developing competitive and profitable customer
relationship to the benefit of both parties”. (Little and Marandi, 2003). Considering that a profitable relationship
on a lifetime basis may also create a loss in some stages during a lifetime, marketing management must pay
attention to three different objectives in terms of; the management of the initiation of customer relationships;
maintenance and enhancement of existing relationships; and handling of relationship termination. (Hougaard
and Bjerre, 2002).
Relationship marketing is a tool by which customer loyalty can be secured and consequently, better customer
satisfaction and competitive advantage can be achieved. As a part of marketing strategy, relationship marketing
seeks to attain and preserve customers by providing good quality customer services, and as a result has become
one of the keys to success in acquiring strong competitiveness in present markets. This is because of its effects
on the access to markets, generation of repeat purchases, creation of exit barriers, and the view that it benefits all
parties. Therefore, effective customer-oriented relationship marketing strategies may help marketers to secure
customers, preserve customers, maximize customer profitability, and finally build up customer loyalty. (Barnes,
Fox and Morris, 2004).
The main focus of relationship marketing is on long-term buyer-seller relationships where both parties benefit
from the relationship. Relationship marketing is more emotional and behavioural as it focuses on features such
Bright A. Antwi1
Nanjing Univeristy of Post and
Telecommunication
CHINA
Harris K. Duah2
Nanjing Univeristy of Post and
Telecommunication
CHINA
2. Customer Relationship Marketing (CRM) as a Competitive Tool, a Study at Best Point....
International Journal of Business Marketing and Management (IJBMM) Page 13
as bonding, empathy and trust. (Yim, Tse and Sin, 2005). Providing customers with best value among the
competitors in the market is the definite way to win him/her for a lifetime, other than just keeping his/her
account number or contact in the database. This means that marketing activities have to be well integrated in all
aspects of the organizational activities in order to attain good relationship marketing. Relationship marketing
brings to fore the marketing communication blend. It is for instance about how banks communicate to the
customer and what a bank stands for in product and services. (Lee and Carter, 2005).
Moreover, Customer Relationship Marketing (CRM) is based on the use of technology in order to build
profitable and long-term relationships with targeted customers. (Little and Marandi, 2003). Information
technology enables organizations to collect, store, analyse and share customer information in a way that
enhances their ability to meet customers‟ needs. (Butler, 2000). However, CRM is not just about using
technology for marketing, sales and customer service. (Goldenberg, 2000). CRM leverages marketing, sales,
customer service, human resource management and finance in addition to information technology and the
internet to increase the profitability of customer interactions. (Chen and Popovich, 2003).
In customer relationship marketing, the drive is to identify the needs and behavioural pattern of the customers so
that the services offered are given at the time needed. Providing good customer service in sales and after sales
servicing plays a crucial part in retaining customers. Relationship marketing identifies customers‟ reactions to
services provided and this promotes retention of the valued customers. The method is an integrated approach to
marketing, service and quality. Therefore, it provides a better basis for achieving competitive advantage. In
relationship marketing, quality assurance and management are all factored into service delivery. These among
others include proper training schemes for staff and regular feedback improvements. (Yen, Liu and Chao, 2009).
As customers get satisfied with one bank through good relationship marketing strategy, it will become difficult
for the customers to switch to another bank. Through good services, customers get transformed from being just
normal customers to satisfied, ones retained and who eventually become enhanced customers to benefit the
organization. (Gyasi, 2012). As a result of this, new banks with new approaches to services as well as the
existing banks that have new management concepts and strategic directions embrace the use of relationship
marketing in order to sustain the customer base and extend it to other prospective ones. Relationship marketing
therefore has proven to be a good strategy that can enable management and staff to establish a long and lasting
relationship with customers. (Desbordes, 2011). Therefore, this study seeks to apply customer relationship
marketing as a competitive tool at Best Point Savings and Loans Limited.
II. Method
2.1 Study Area
The study was conducted on Best Point Savings & Loans Limited. It is a newly established Non-Bank Financial
Institution registered with the Registrar General‟s Department on 29th January, 2013 and authorized to
commence business on October 8, 2013.The Company is a Private Limited Liability firm incorporated in Ghana
under the Company‟s Code (Act 179, 1963) with 500,000,000 authorized shares of no par value. The Company
was licensed by Bank of Ghana (under PNDCL 328) to accept deposits from the public and provide credit
services to businesses and consumers, and to primarily engage in the business of financial intermediation at the
level of Savings and Loans. The sole business of BPSL is the provision of savings and loans services. The core
values Include; Integrity, Teamwork, Customer Focus, Excellence and Creativity. The vision statement of Best
Point Savings & Loans Limited is to be the most cost-effective, efficient and unique Savings and Loans
Company, providing cutting edge financial solutions to Micro, Small and Medium Enterprises (MSME) and
households. And their Mission Statement is to deliver unique financial solutions that optimize customer
satisfaction and shareholder value through the use of state of the art technology and well-motivated and
professionally competent staff FS(http://www.bestpointgh.com).
2.2 Study Design
The research design is the researcher‟s plan for investigating or addressing the research questions or research
objectives. In addition, a research design is the arrangement of conditions for the collection and analysis of data
in a manner that aims to combine relevance with the research objective. (Kumar, 2011). Research design
constitutes a decision regarding what, why, where, when and how concerning an inquiry or a research study.
Overall research design may be divided into the following parts. (Kothari, 2004).
The study was based on a descriptive and cross-sectional research to explore Customer Relationship Marketing
as a competitive tool at the Best Point Savings and Loans Limited. This used the descriptive method to obtain
3. Customer Relationship Marketing (CRM) as a Competitive Tool, a Study at Best Point....
International Journal of Business Marketing and Management (IJBMM) Page 14
information from staff in the financial institution. This descriptive type of research utilizes observations in the
study.
For the purpose of this research a descriptive study design was used for the study in order to get meaningful
information so as to attain useful conclusions. Descriptive research methods attempt to maximize objectivity,
replicability, and generalizability of findings, and are typically interested in predictions. Integral to this approach
is the expectation that a researcher will set aside her experiences, perceptions, and biases to ensure objectivity in
the conduct of the study and the conclusions that are drawn. (Bryman, 2008; Trochim, 2006).
2.3 Study Population
Bryman (2008) describe a study population as the whole group that the research focuses on. a research
population is also known as a well-defined collection of individuals or objects known to have similar
characteristics. All individuals or objects within a certain population usually have common, binding
characteristics or traits. (Sanrantakos, 1997). The target population is the entire group a researcher is interested
in; it is the group about which the researcher wishes to draw conclusions. The study was conducted at the Best
Point Savings and Loans Limited, Suame branch. The target population included working staff and the
customers in the study area.
2.3.1 Sample and Sample Procedure
Sampling refers to the act of drawing from a population in order to draw conclusions regarding the entire
population. (Neuman, 2000). A non-random quota sampling technique was used to select a sample size of 10
staff members and 10 customers. According Bryman (2008), probability sampling is used when a researcher is
seeking a strong correspondence between their research population and the sample drawn from it. The stronger
the correspondence, the greater the degree of „confidence‟ (probability) that trends, variations and patterns found
in the sample are representative of trends, variations, and patterns that are present in the research population.
The stronger the correspondence, the more valid the generalisations about the research population drawn from
the sample.d.
2.3.2 Instrument
Data was collected from the target population using structured questionnaires. The study used both open ended
and close ended questionnaires to find out information from the target population.
2.3.3 Data Collection
The combination of primary and secondary data was used for the analysis of the study. However, the major
source of data was obtained from primary sources. The secondary data was obtained from published documents,
reports, periodicals, the internet, magazines, newspapers, reports, journals and other relevant state and non-state
institutions that have publications relating to the study.
2.3.4 Data Analysis
After collecting data from the field, the researcher analysed the data using Statistical Package for Social
Scientist (SPSS version 21) and Microsoft Office Excel. The descriptive statistics such as frequencies,
percentages and graphs are used for the analysis of the research questions while hypotheses testing were done
with Spearman Rank Correlation and Simple Regression Analysis in order to make generalization out of the data.
This assisted the researcher in reading meaning into the collated data to achieve a high level of data validity and
reliability.
III. Study Results
3.1 Background of Respondents
3.1.1 Sex of Respondents
The study recruited twenty (20) members of staffs. Out of the 20 respondents, a majority 13 (65%) were males
whilst 7 (35%) were females. This information is indicated in figure 4.1 below.
4. Customer Relationship Marketing (CRM) as a Competitive Tool, a Study at Best Point....
International Journal of Business Marketing and Management (IJBMM) Page 15
Figure 4.1: Sex of Respondents
Sources: Author’s field data, June 2017
3.1.2 Age of Respondents
As indicated in figure 4.2, the study revealed that a significant number 7 (35%) of the respondents were between
the ages of 30-39 years whilst a few (15%) of the respondents were between the ages of 20-29 years. Then, 30%
of the respondents were between the ages of 40-49 years and 20% of the respondents were 50 years and above.
Figure 4.2: Age of Respondents
Sources: Author’s field data, June 2017
3.2.3 Educational Background
The study observed that, a significant number 12 (60%) of the respondents had first degree, 4 (20%) of the
respondents had postgraduate degrees, 3 (15%) of the respondents were diploma holders and 1 (5%) of the
respondents was also HND holders. It can be recognized that a larger number of respondents had higher
education that is (first graduates and postgraduates) than those who had lower education that is (diplomas and
HND). Figure 4.3 indicates the educational background of respondents.
5. Customer Relationship Marketing (CRM) as a Competitive Tool, a Study at Best Point....
International Journal of Business Marketing and Management (IJBMM) Page 16
Figure 4.3: Educational Background of Respondents
Sources: Author’s field data, June 2017
3.2.4 Number of years in service at the bank
Figure 4.4 indicates the number of years respondents had spent in service at the bank. It was revealed that, a
significant number 7 (35%) of the respondents had been in service for more than 2 years, 6 (30%) of the
respondents had been in service for 1-2 years, 4 (20%) of the respondents had been in service for 6-12 months
and 3 (15%) of the respondents had been in service for less than 6 months.
Figure 4.4: Respondents’ Number of years in service
Sources: Author’s field data, June 2017
3.2 Customer Relationship Marketing (CRM) strategies adopted at Best Point Savings and Loans Limited
3.2.1 CRM strategy to create and retain profitable customers
The study revealed that all the respondents acknowledged that Customer Relationship Marketing strategy is
applied in Best Point Savings and Loans Limited to create and retain profitable customers. Among these, a
majority (35%) of them indicated that Best Point Savings and Loans Limited adopts its strategies through
customer retention, 6 (30%) of them said that Best Point Savings and Loans Limited adopts these strategies
through customer acquisition, 4 (20%) of the respondents specified that Best Point Savings And Loans Limited
adopts these strategies through Customer profitability. (Add-on selling) and 3 (15%) of the respondents said that
6. Customer Relationship Marketing (CRM) as a Competitive Tool, a Study at Best Point....
International Journal of Business Marketing and Management (IJBMM) Page 17
that Best Point Savings and Loans Limited adopts these strategies by focusing on products benefits. This
information is indicated in figure 4.5 below.
Figure 4.5: How Best Point Savings and Loans Limited adopt its strategies
Sources: Author’s field data, June 2017
4.2.2 Implementing Customer Relationship Marketing strategies
As indicated in table 4.1, the study revealed that all (100%) the respondents acknowledged that Best Point
Savings and Loans Limited implement Customer Relationship Marketing strategies on the basis of service
quality and price perception. Then, 18 (90%) of the respondents indicated that Best Point Savings And Loans
Limited implements Customer Relationship Marketing strategies on the basis of customer profitability (Add-on
Selling). Also, 18 (90%) of the respondents indicated that Best Point Savings And Loans Limited implements
Customer Relationship Marketing strategies by customizing the relationship. Furthermore, 16 (80%) of the
respondents indicated that Best Point Savings And Loans Limited implements Customer Relationship Marketing
strategies on the basis of brand image. Again, 16 (80%) of the respondents indicated that Best Point Savings
And Loans Limited implements Customer Relationship Marketing strategies on the basis of service
augmentation. Then again, 15 (75%) of the respondents said that Best Point Savings And Loans Limited
implements Customer Relationship Marketing strategies on the basis of customer equity. Lastly, 14 (70%) of the
respondents said that Best Point Savings And Loans Limited implements Customer Relationship Marketing
strategies through Internal Marketing.
Table 4.1: Various strategies adopted to implement Customer Relationship Strategies in the company
CRM Strategies Respondents Percentage
Service quality 20 100%
Price perception 20 100%
Customer profitability (Add-on Selling) 18 90%
Brand Image 16 80%
Customer Equity 15 75%
Customizing the Relationship 18 90%
Service Augmentation 16 80%
Internal Marketing 14 70%
Sources: Author’s field data, June 2017
3.2.3 Models of marketing undertaken at Best Point Savings and Loans Limited
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The study sought to examine the models of marketing utilized at Best Point Savings and Loans Limited. It was
revealed that, a significant 9 (45%) of the respondents specified Proactive Marketing, 5 (25%) said Partnership
Marketing, 3 (15%) also said Basic marketing, 2 (10%) said Accountable Marketing and only 1 (5%) of the
respondents said Reactive Marketing. Figure 4.6 shows the Models of Marketing utilized at Best Point Savings
And Loans Limited.
Figure 4.6: Models of Marketing utilized at Best Point Savings And Loans Limited
Sources: Author’s field data, June 2017
3.2.4 Involving customers in the decision making process when designing service products
The study revealed that all the respondents acknowledged that the views and opinion of customers are taken into
consideration in service delivery. As indicated in figure 4.7, the study revealed that the majority 8 (40%) of the
respondents indicated that customers were involved in the decision making process through feedbacks from
products/service sold already, 7 (35%) of the respondents said that customers were involved in decision making
process through telephone interviews and 5 (25%) of the respondents said that customers were involved in the
decision making process through queries at the banking hall.
Figure 4.7: Involving customers in the decision making process when designing service products
Sources: Author’s field data, June 2017
3.2.5 Influence of CRM on good work performance
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The study revealed that, the majority 17 (85%) of the respondents stated that their work good performance was
due to good customer relationship marketing strategies by the institution. However, 3 (15%) of the respondents
said that their good work performance was not due to good Customer Relationship Marketing Strategies by the
institution. This information is indicated on figure 4.8 below.
Figure 4.8: Influence of CRM on good work performance
Sources: Author’s field data, June 2017
3.7.7 The ingredients for implementing Marketing Relationship Program
According to figure 4.9, the study revealed that the majority 8 (40%) of the respondents acknowledged that a
successful implementation of Relationship Marketing is based on winning the confidence and loyalty of
customers, 5 (25%) of the respondents indicated that a successful implementation of Relationship Marketing is
based on developing customer-centric processes, 4 (20%) of the respondents said that a successful
implementation of Relationship Marketing is based on customer information and knowledge generation
capabilities and 3 (15%) of the respondents also said that a successful implementation of Relationship
Marketing is based on Selecting and implementing the right technology solutions using employee
empowerment.
Figure 4.9: The ingredients for implementing a successful Relationship Marketing Program
Sources: Author’s field data, June 2017
3.3 Benefits of Customer Relationship Marketing as a competitive tool at Best Point Savings
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All the respondents acknowledged that Customer Relationship Marketing play a role as a competitive tool in
their service performance delivery at Best Point Savings And Loans Limited. As indicated in table 4.2 below,
the study revealed that all (100%) of the respondents acknowledged that Customer Relationship Marketing
develops and strengthens customer trust. Also, all (100%) of the respondents acknowledged that Customer
Relationship Marketing enhances customers‟ satisfaction. Furthermore, all (100%) of the respondents
acknowledged that Customer Relationship Marketing builds and maintains long term relationship between
buyers and sellers. Then, 95% of the respondents said that Customer Relationship Marketing fosters customer
commitment with the firm. Again, 95% of the respondents said that Customer Relationship Marketing enhances
customers‟ loyalties. These results were obtained by repeat assessment by the respondents.
Table 4.2: Benefits of Customer Relationship Marketing as a competitive tool at Best Point Savings
Benefits of CRM as a competitive tool Respondents Percentage
Develops and strengthens customer trust 20 100%
Enhances customers‟ satisfaction 20 100%
Enhances Customers‟ loyalties 19 95%
Fosters customer commitment to the firm 19 95%
Builds and maintains long term relationship between buyers and
sellers
20 100%
Sources: Author’s field data, June 2017
3.3.1 Benefits of Customer Relationship Marketing on the basis of 4Ps
All the respondents acknowledged that Customer Relationship Marketing as a competitive tool can be related to
the 4Ps in Best Point Savings And Loans Limited. On the basis of Product, all the members of staff
acknowledged that CRM ensures that services are provided to customers based on their preferences. Regarding
Price, all the staff members acknowledged that CRM ensures that products/services are often designed for
customers at an affordable price. On the basis of Place (Distribution), all the staff members acknowledged that
CRM ensures that services are provided to customers at their own convenience without the need for any
middleman. Services can therefore be customized. Regarding Promotion (Communication), all the members of
staff acknowledged that CRM favours more direct individual communication and dialogue with customers.
3.4 Factors that facilitate or otherwise militate against successful Customer Relationship Marketing
implementation at Best Point Savings And Loans Limited
3.4.1 Factors that facilitate successful CRM implementation
From table 4.3, the study revealed that all (100%) of the respondents suggested that Top management
support/commitment would facilitate successful CRM implementation. Then, the study revealed that all (100%)
of the respondents suggested that right Customer Data Base Technology can facilitate successful CRM
implementation. Furthermore, 95% of the respondents suggested that defining and communicating CRM
strategy properly can facilitate successful CRM implementation. Then, 90% of the respondents suggested that
customer involvement can facilitate successful CRM implementation. Again, 90% of the respondents suggested
that Culture change can facilitate successful CRM implementation. Then 90% of the respondents suggested that
skilful members of staff can facilitate successful CRM implementation.
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Table 4.3: Factors that can facilitates successful CRM implementation
Facilitating factors Respondents Percentage
Top management support/commitment 20 100%
Right Customer Data Base Technology 20 100%
Customer involvement 18 90%
Defining and communicating the CRM strategy 19 95%
Culture change 18 90%
Skillful members of staff 18 90%
Sources: Author’s field data, June 2017
3.4.2 Factors that can militate against successful CRM implementation
From table 4.4, the study revealed that all (100%) of the respondents indicated that lack of management support
militates against successful CRM implementation. Also, all (100%) of the respondents indicated that lack of
involving the final users in designing CRM solutions militates against successful CRM implementation. Then,
95% of the respondents specified that lack of readiness state militates against successful CRM implementation.
Furthermore, 90% of the respondents specified that lack of customer-centric culture militates against successful
CRM implementation. Also, 90% of the respondents specified that poor quality data militates against successful
CRM implementation. Finally, 80% of the respondents indicated that lack of vision and strategy militates
against successful CRM implementation.
Table 4.4: Factors that can militate against successful CRM implementation
Militating Factors Respondents Percentage
Lack of management support 20 100%
Lack of customer-centric culture 18 90%
Lack of readiness state 19 95%
Lack of vision and strategy 16 80%
Lack of involving the final users in designing CRM solutions 20 100%
Poor quality data 18 90%
Sources: Author’s field data, June 2017
IV. Discussion
CRM strategies adopted at Best Point Savings and Loans Limited
The study revealed that all the staff members acknowledged that they consider Customer Relationship
Marketing strategy in Best Point Savings and Loans Limited to create and retain profitable customers. It was
revealed that Best Point Savings and Loans Limited adopt its strategies through customer retention (35%),
customer acquisition (30%), Customer profitability (Add-on selling) (20%) and focusing on products benefits
(15%) which are in accordance with Kotler and Armstrong (2000) study. To this awareness, most of the
respondents acknowledged that their work performance was due to good Customer Relationship Marketing
strategies.
The current study revealed that Best Point Savings and Loans Limited a successful implementation of
Relationship Marketing by winning confidence and loyalty of customers (40%), developing customer-centric
processes (25%), customer information and knowledge generation capabilities (20%) and selecting and
implementing technology solutions using employee empowerment (15%) which support Nwakanma, Jackson &
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Burkhalter (2007) findings. Winning confidence and loyalty of customers are the prime objective of Best Point
Savings and Loans Limited.
The study revealed that the various ways in which Best Point Savings and Loans Limited implement Customer
Relationship Marketing strategies include; Service quality, Price perception, Customer profitability (Add-on
Selling), Brand Image, Customer Equity, Customizing the Relationship, Service Augmentation, and Internal
Marketing. All (100%) the respondents acknowledged that Best Point Savings and Loans Limited implement
Customer Relationship Marketing strategies on the basis of service quality. This finding supports Aydin and
Özer (2005) assertion that, customers are satisfied when a firm provide better services than their pre-purchase
expectations. It also affirms Grönroos (2000) assertion that the quality perceived by customers in the critical
interaction process will obviously have critical impact on customers‟ evaluation of service quality.
Also, all (100%) the respondents acknowledged that Best Point Savings and Loans Limited implement
Customer Relationship Marketing strategies on the basis of Price perception by offering reasonable prices mix
or leaving lower prices without decreasing quality. This result is in accordance with Kim, Zhao and Yang (2008)
study which revealed that consumers are sometimes likely to be attracted by perceived high-quality services at
perceived competitive prices during the searching process. Price perception therefore influences customer
satisfaction and trust.
Moreover, 18 (90%) of the respondents indicated that Best Point Savings and Loans Limited implement
Customer Relationship Marketing strategies on the basis of customer profitability (Add-on Selling). This finding
affirms Kotler and Armstrong (2000) assertion that the purpose of Add-On Selling can either be to drive in more
profits or helping the customers to choose better, thus driving more value.
Also, 18 (90%) of the respondents also indicated that Best Point Savings and Loans Limited implement
Customer Relationship Marketing strategies by customizing the relationship. This result support Jalili (2008)
assertion that, customizing the relationship involves a shift in attitude towards viewing the customer as a partner
and a business asset to be managed. Thus, learning about the specific characteristics and requirements and
individual customers, and then capturing these data for use as needed.
Furthermore, 16 (80%) of the respondents indicated that Best Point Savings and Loans Limited implement
Customer Relationship Marketing strategies on the basis of brand image. This result agrees with Grönroos
(2000) assertion that a positive brand image makes it easier for a firm to convey its brand value to consumers
and also generates favourable word of mouth among people. Therefore, a brand image is a consequence of how
a customer perceives the relationship with a brand over time and how a customer perceives the brand image
during such an experience is a critical issue for a service firm.
Again, 16 (80%) of the respondents indicated that Best Point Savings and Loans Limited implement Customer
Relationship Marketing strategies on the basis of service augmentation. This result support Lo (2012) discussion
that, customer loyalty is encouraged when extras that are valued by customers are genuine and not readily
available from competitor.
Moreover, 15 (75%) of the respondents said that Best Point Savings and Loans Limited implement Customer
Relationship Marketing strategies on the basis of customer equity. This finding is in accordance with Kotler and
Armstrong (2000) assertion that, companies with high customer equity will be valued at a higher price than
companies with low customer equity & companies without customer equity at all.
And 14 (70%) of the respondents said that Best Point Savings and Loans Limited implement Customer
Relationship Marketing strategies through Internal Marketing. This result affirms Huang (2015) assertion that,
internal marketing is based on the idea that customers‟ attitudes toward a company are based on their entire
experience with that company, and not just their experience with the company‟s products. Any time a customer
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interacts with an employee, it affects their overall satisfaction. Therefore, customer satisfaction is deeply
dependent on the performance of a company's staff.
Majority (70%) of the respondents indicated that, the level of marketing undertaken at Best Point Savings and
Loans Limited was basically proactive marketing and partnership marketing. The study revealed that all the
respondents acknowledged that the views and opinion of your customers are taken into consideration in service
delivery through feedback from products/service sold already (40%), telephone interviews (35%) and queries at
the banking hall (25%). This result support Hollensen and Opresnik (2010) observation that, business works
continuously with its large customers to help improve performance and make changes regularly by taking care of
their customers as well. Thus they take regular feedback from their large customers thereby developing their
products accordingly.
Benefits of Customer Relationship Marketing as a competitive tool at Best Point Savings
The current study revealed that, the benefits of Customer Relationship Marketing as a competitive tool at Best
Point Savings included; develop and strengthens customer trust
Enhance customers‟ satisfaction, achieve Customers‟ loyalties, foster customer commitment with the firm, and
building and maintaining long term relationship between buyers and sellers. The current study is in line with
Anastassova (2013) assertion that Customer Relationship Marketing as a competitive tool can be related to the
4Ps which are Product, Price, Place (Distribution) and Promotion (Communication). On the basis of Product, all
the staff members acknowledged that CRM ensures that services are provided to customers based on their
preferences. Regarding Price, all the staff members acknowledged that CRM ensures that products/services are
often designed for customers at an affordable price. On the basis of Place (Distribution), all the staff members
acknowledged that CRM ensures that services are provided to customers at their own convenience without the
need for any middleman. Regarding Promotion (Communication), all the staff members acknowledged that
CRM favours more individual communication and dialogue with customers.
It was discovered that, majority all (100%) of the staffs acknowledged that Customer Relationship Marketing
develops and strengthens customer trust. This result supports Liu et al. (2008) discussion that, customers with
trust in the service providers‟ capability would probably be willing to commit to a service relationship to meet
their expectations. Even when the environment is changing, the customers would believe that the service
provider will take customers‟ interests into account instead of doing anything harmful to the existing of
relationship.
Also, all (100%) of the staff said that Customer Relationship Marketing enhances customers‟ satisfaction. The
finding is in accordance with Spath and Fähnrich (2007) assertion that, customer satisfaction also has been
measured relying on the phases of customer relationship life cycle, which characterizes different stages of a
customer relationship and requires focus on specific targets and customer expectations at different stages. In
general, customer satisfaction enhances the quality of relationship between customers and service providers, and
increases repeat purchase behaviour.
Moreover, all (100%) of the respondents acknowledged that Customer Relationship Marketing builds and
maintains long term relationship between buyers and sellers. This support Kotler and Armstrong (2000)
discussion that, Customer Relationship marketing identifies the customers‟ reaction to service provided and this
promotes retention of the valued customers. This involves ensuring that the customer remains loyal to the
organisation and, in so doing; both parties are able to receive substantial benefits.
Furthermore, 95% of the respondents said that Customer Relationship Marketing foster customer commitment
with the firm. This result support Magasi (2015) and Velnampy & Sivesan (2012) studies which revealed that
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Customer Relationship Marketing (CRM) strongly focus on customers‟ retention, focus on products benefits,
high emphasis on customer services and high customer commitment.
Also, 95% of the respondents said that Customer Relationship Marketing achieve customers‟ loyalties. This
result is in agreement with Tseng (2007) assertion that, loyal customers are considered to be the most important
assets of a company. It is thus essential for vendors to keep loyal customers who will contribute long-term profit
to the business organizations. It also affirms Bowen and Shoemaker (2003) discussion that, Loyal customers are
less likely to switch to a competitor solely because of price, and they even make more purchases than non-loyal
customers.
Factors that facilitate or militate against successful Customer Relationship Marketing implementation at
Best Point Savings and Loans Limited
The current study revealed that the factors that facilitate successful CRM implementation at Best Point Savings
and Loans Limited included; Top management support/commitment, Customer Data Base Technology,
Customer involvement, Defining and communicating the CRM strategy, Culture change, and Skilful staff. On
the other hand, the current study revealed that the factors that militate against successful CRM implementation
at Best Point Savings and Loans Limited included; Lack of management support, Lack of customer-centric
culture, Lack of readiness processes, Lack of vision and strategy, Lack of involving the final users in designing
CRM solutions, Poor quality data. These findings are in line with various studies such as Chalmeta (2006) and
Kale (2004),
The study revealed that all (100%) of the respondents suggested that top management support/commitment can
facilitate successful CRM implementation. This result supports Chen and Popovich (2003) assertion that,
considering the scope of CRM implementation as an enterprise-wide strategy it requires a full support by the top
level of the organizational structure. The role of even board level is essential in backing the CRM
implementation process and securing required amount of financing for putting CRM projects into action.
Moreover, the study revealed that all (100%) of the respondents suggested that Customer Data Base Technology
can facilitate successful CRM implementation. This result supports Thompson et al. (2006) claim that,
Integration technology allows organizations to develop better relationship with customers by providing a wider
view of the customer behaviour. t is the enabler for CRM systems to achieve their objectives of collecting,
classifying, and saving valuable data on customers.
Furthermore, 95% of the respondents suggested that defining and communicating the CRM strategy can
facilitate successful CRM implementation. This finding agrees with Greenberg (2004) discussion that, a clear
definition of the CRM strategy and alignment of this strategy to the company's overall strategy would facilitate
the transition of changing work structure and environment toward customer-centric approach.
Also, 90% of the respondents suggested that customer involvement can facilitate successful CRM
implementation. This result supports Rigby and Ledingham (2004) assertion that, customers‟ acceptance and
interaction with CRM systems could be enhanced by involving those customers in building CRM systems right
from the start.
Again, 90% of the respondents suggested that Culture change can facilitate successful CRM implementation.
This finding supports Alexander (2004) claim that, in order for CRM to succeed in realizing its objectives,
organizations should develop a culture where all staff are encouraged to share and learn from new work culture
and information that is based on customers.
Moreover, 90% of the respondents suggested that skilful staff can facilitate successful CRM implementation.
This finding agrees with Greenberg (2004) discussion that, issues of the nature of learning new work systems,
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training programs, change resistance, willingness to share information, and motivating staff should be taken to
consideration and be well managed.
V. Conclusion
The study concludes that Customer Relationship Marketing strategy in Best Point Savings and Loans
Limited to create and retain profitable customers. A successful implementation of Relationship Marketing by
winning confidence and loyalty of customers, developing customer-centric processes, customer information and
knowledge generation capabilities, and selecting and implementing technology solutions using employee
empowerment. The various ways in which Best Point Savings and Loans Limited implement Customer
Relationship Marketing strategies include; Service quality, Price perception, Customer profitability (Add-on
Selling), Brand Image, Customer Equity, Customizing the Relationship, Service Augmentation, and Internal
Marketing. The views and opinion of your customers are taken into consideration in service delivery through
feedback from products/service sold already, telephone interviews and queries at the banking hall. The benefits
of Customer Relationship Marketing as a competitive tool at Best Point Savings included; develop and
strengthens customer trust. Customer Relationship Marketing as a competitive tool can be related to the 4Ps.
Factors that facilitate successful CRM implementation at Best Point Savings and Loans Limited included; Top
management support/commitment, Customer Data Base Technology, Customer involvement, Defining and
communicating the CRM strategy, Culture change, and Skilful staff. On the other hand, the current study
revealed that the factors that militate against successful CRM implementation at Best Point Savings and Loans
Limited included; Lack of management support, Lack of customer-centric culture, Lack of readiness processes,
Lack of vision and strategy, Lack of involving the final users in designing CRM solutions, Poor quality data.
Generally, CRM allows businesses to develop long-term relationships with established and new customers while
helping restructure corporate performance.
Acknowledgments
First, I express my sincere thanks and profound gratitude to the Almighty God for protection and guidance
which saw me through to achieve the success of this study. My special acknowledgement also goes to our able
supervisor …………………………. for his advice, invaluable contribution, guidance and motivation which
sustained us to complete this thesis. I also express my sincere thanks to my family for their prayers and
contributions which helped me to complete this programme. I also thank our colleagues especially our study
mates who provided an enabling environment which assisted and encouraged us for a successful completion of
this work.
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