Search icone
Search and publish your papers
Our Guarantee
We guarantee quality.
Find out more!

Customer Relationship Management in Riyadh Bank

Or download with : a doc exchange

About the author

Le
Level
General public
Study
literature
School/University
London

About the document

Mathew M.
Published date
Language
documents in English
Format
pdf
Type
case study
Pages
15 pages
Level
General public
Accessed
0 times
Validated by
Committee Oboolo.com
0 Comment
Rate this document
  1. Introduction
  2. Background to the Study
  3. Statement of the Problem
  4. Literature Review
  5. Emergence of CRM
  6. Implementation of CRM in Banking
  7. Research Methodology
  8. Conclusion

Customer Relationship Management is a tool for attracting and retaining customers that a business has identified as potentially profitable in the long term. CRM can help businesses to build sustainable competitive advantage and protect their market share from possible erosion by new entrants. It builds customer loyalty and enhances the value of the brand in the long term. This research was aimed at finding out the CRM practices at Riyadh Bank and to compare them with established best practices. The research methodology was qualitative analysis of questionnaire responses from selected staff members of Riyadh Bank. The responses were analyzed qualitatively and the researcher established that the CRM experience at Riyadh Bank was a success, but it had some weaknesses. The research concluded that management training was necessary to equip top managers with knowledge on CRM.

[...] Asian Journal of Business Management pp.55-59. Parvatiyar, A. and Sheth, J. N. (2001). Customer Relationship Management: Emerging Practice, Process and Discipline. Journal of Social and Economic Research, pp.1-34. Singh, H. and Singh, B. P. [...]


[...] Workers were asked questions regarding the products and services offered by Riyadh Bank. They were also asked to identify the channels that customers used most regularly. Respondents were required to tick boxes next to identified communication channels used to maintain customer relations with a number denoting a scale from 1 to with 1 denoting mostly used and 7 denoting least used. They were asked: ?Please rank the following communication channels according to the frequency of their use to maintain customer relations.? Respondents were also asked to state the other services that the bank offered its customers from a given list. [...]


[...] Customer Relationship Management helps organizations to identify new customers, acquire them, and retain old ones and also to maximize on their lifetime value to the business (Enut, Erdem and Hosver, n.d.). CRM is defined as the ?ability of an organization to effectively identify, acquire, foster, and retain loyal profitable customers? (Singh and Singh, 2011). King and Burgess (2007) say that CRM is a marketing concept that relies on effective analysis of customer behavior. CRM is an integration of technologies and business processes aimed at optimizing customer experience in order to nurture effective, long term relationships with them (King and Burgess, 2007). [...]


[...] Factors for Success in Customer Relationship Management (CRM) Systems. [...]


[...] Part of the data warehousing system is dedicated to Customer Relationship Management, while another part is responsible for the generation of consistent and accurate management reports. IBM's Banking 12 Data Warehouse model was the model upon which Garanti Bank's data warehousing system was built. The data warehouse is populated with information such as customer demographics, product ownership and transaction data as well as product usage and risk and profitability data. Regular updates of customer data help the bank to make periodic customer analysis to be able to create products that are relevant to the needs of the customer. [...]

Top sold for management

Easy-jet's position in the low-cost carrier market: Recommendations for the best strategic plans...

 Business & market   |  Management   |  Research papers   |  06/03/2008   |   .doc   |   4 pages

Strategic management: Celerita Inc. case study

 Business & market   |  Management   |  Case study   |  07/09/2012   |   .doc   |   13 pages

Most rated for management

Conceptual models in strategic management: The Boston Consulting Group growth / share matrix

 Business & market   |  Management   |  Presentation   |  01/16/2009   |   .doc   |   9 pages

Risk management when dealing with foreign exchange (forex)

 Business & market   |  Management   |  Thesis   |  04/08/2009   |   .doc   |   77 pages