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ASSIGNMENT # 2 CRM (MKT610) SPRING 2011 MC090205160

QUESTION #1:SOLUTION:As a directing manager the mistakes that are causing the switching behavior and fail to bring organizational commitment and loyalty are as follows: 1. High income groups 2. Lack of secrecy 3. Lack of friendly staff 4. Lack of effective advertising 5. Lack of service quality 6. Lack of convenient price 7. Lack of reputation 8. Lack of bank profits 9. Lack of customer quality 10. 11. 12. 13. Lack of satisfaction with bank services Lack of financial consideration Lack of competitive offerings Lack of promises made by competitors

QUESTION#2:SOLUTION:-

United bank can increase the customer loyalty with the help of CRM in the following way. Following steps should be followed which are as follows:

1. DEVELOPMENT OF CUSTOMER STRATEGY:-

It defines who your customers are.


2. ALIGN ORGANIZATION AND ITS PROCESSES:-

Bank balance, description, transactions, measures, compensation all should be drawn which should satisfy the customer needs. Internal structure should be properly maintained to enhance its value in the banking sector.

3. USE OF APPROPRIATE TECNOLOGY:-

Technology should be adopted according to the customer demand. We should look for suitable technologies that promote effectiveness over efficiencies. 4. MEASURE BENEFITS:Successful monitoring requires measure the right thing at a right time. Cost reduction should be properly maintained. Retention cost should be stable. 5. KEEP THE C IN CRM:This nurturing involves the core function of sales, service and e business interface.

6. CUSTOMER SUPPORT:-

It plays a vital role to contact with other branches in order to maintain state. Friendly environment and a well reputed personality enhances the attention of a customer and create a desire to remain loyal to that bank.

Loyalty and organizational commitment can be brought through CRM. Loyalty can occur due to friendly staff members. The ultimate goal is to have as many numbers of customers loyal to you. It brings confidence in offerings. A customer must concentrate on switching behavior in order to safeguard your market strategies.

FOR EXAMPLE:Hotel and restaurants of airlines e.g. International chain of hotels where I would always stay i will not travel if reservation is not available because I am loyal to that chain of hotel rather to any other hotel.

Commitment and loyalty goes side by side.

THE END