Customer relationship marketing
Summary :
Table of Contents
- Introduction
- CRM in retail banking
- Focusing on organic growth
- Seeking out and better serving emerging customer segments
- Creating deep business insight into customer preferences
- Responding to intensifying competition through revitalized offerings
- Responding to intensifying competition through revitalized offerings
- Safeguarding customer information
- Reaping the benefits of a CRM solution
- CRM implementation in Standard Chartered Bank (SCB)
- The SAS banking intelligence solution
- Customer analytics components interactions
- Banking intelligence architecture
- SAS banking intelligence solutions: Architectural overview
- SAS customer segmentation for banking
- SAS cross sell and Up sell for banking
- SAS customer retention for banking
- The benefits of SAS banking intelligence solutions
- Proven infrastructure framework
- Integrated analytic intelligence
- Rapid 'Decision to Action' deployment
- SAS in Standard Chartered Bank
- Realizing the information needs
- The power of analytics
- Future plans
- The solution up close
- The customizable CRM solution
- References
Abstract
Traditional marketing strategies focused on the four Ps (price, product, promotion, and place) to increase market share. The main concern was to increase the volume of transactions between seller and buyer. Volume of transactions is considered a good measure of the performance of marketing strategies and tactics.
In the current era of intense competition and demanding customers, relationship marketing has attracted the expanded attention of many scholars. marketing scholars are studying the nature and scope of relationship marketing and developing conceptualization regarding the value of cooperative and collaborative relationships between buyers and sellers as well as the relationships between different marketing actors, including suppliers, competitors, distributors and internal functions in creating and delivering customer value.
"CRM is a business strategy that goes beyond increasing transaction volume. Its objectives are to increase profitability, revenue, and customer satisfaction. To achieve CRM, a company wide set of tools, technologies, and procedures promote the relationship with the customer to increase sales". [Sweeney Group, 2000]
In the current era of intense competition and demanding customers, relationship marketing has attracted the expanded attention of many scholars. marketing scholars are studying the nature and scope of relationship marketing and developing conceptualization regarding the value of cooperative and collaborative relationships between buyers and sellers as well as the relationships between different marketing actors, including suppliers, competitors, distributors and internal functions in creating and delivering customer value.
"CRM is a business strategy that goes beyond increasing transaction volume. Its objectives are to increase profitability, revenue, and customer satisfaction. To achieve CRM, a company wide set of tools, technologies, and procedures promote the relationship with the customer to increase sales". [Sweeney Group, 2000]
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