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Customer Relationship in Australian Banking Industry - Coursework Example

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This paper “Customer Relationship in Australian Banking Industry” evaluates the role of increased promotion of the latest technology in customer satisfaction.  Those technologies are not widely available. Widespread adoption of these applications will increase customer gratification…
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Customer Relationship in Australian Banking Industry
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Download file to see previous pages For the requirement of the project, a particular bank has been taken. Commonwealth Bank is one of the major banks in Australia.  Now they have concentrated more on cloud marketing and they also have the award-winning website. The bank has speeded their branches not only in Australia but also across the world and that is a positive sign. Ultimately as the entire industry is lagging behind in creating customer relationship, it is to be recommended to use cloud computing technique and inbound marketing. Thus, they can get over this marketing issue and can add value to the customer proposition.
Marketing issues form an integral part of any organization. It can be anything for which an industry or a firm faces certain difficulties or which creates hurdle towards earning a profit, gaining market share or even for sustaining. Marketing issues vary with respect to company, industry and even country.  Nowadays, the business world is becoming more competitive. For sustaining in this world along with earning a profit is very difficult. The firms always should come up with new and innovative ideas in order to address marketing issues.
The marketing issues often depend as per the stage in which the company or the industry is into. 
A company which is in the initial stage should not give higher priority to the customer. For those kinds of companies, marketing issue will be with the supplier or finance as at this stage the critical issue is being projected the sources of funding and raw material.
For the companies which are new in this market place, the marketing issue will be promoting the company itself because in a new marketplace the identity of that new company is not known to all.
When a company is effectively established then the marking team always should support the sales team and have to taken care of all sales programs.  The marketing programme should be designed according to the sales program. Otherwise, the entire effort of the marketing team will be worthless.
Another vital aspect of the marketing issue is that of the ‘exit strategy’.  At the beginning itself, it is important to find out the ways, through which the company can get out of the industry. As per such necessity, the company should build up its strategies.
Sometimes, the nature of the product also proves to be an issue, as the selling and marketing techniques are changed depending on the nature of the product. For example, the marketing strategy will not be the same for both a durable and non-durable product.
Product pricing can be another issue of concern in marketing as the   targeted customer are chosen and the medium of the advertisement has been selected on the basis of the prices. It is critical for the company to decide whom the company will consider as the target customer and when the company should approach to them.
For the requirement of the project, a particular bank has been taken. Commonwealth bank it is one of the major banks in Australia. Now they have concentrated more on cloud marketing and they also has award winning web-site. The bank has speeded their branches not only in Australia but also in across the world and that is a positive sign. Ultimately as the entire industry is lagging behind in creating customer relationship, it is to be recommended to use cloud computing technique and inbound marketing. Thus, they can get over this marketing issue and can add value to the customer proposition.
Marketing issues form an integral part of any organization. It can be anything for which a industry or a firm faces certain difficulties or which creates hurdle towards earning the profit, gaining market share or even for sustaining. Marketing issues varies with respect to company, industry and even country. Nowadays, the business world is becoming more competitive. For sustaining in this world along with earning a profit is very difficult. The firms always should come up with new and innovative ideas in order to address the marketing issues. 
Company which are in the initial stage should not give higher priority to the customer. For those kinds of companies, marketing issue will be with the supplier or finance as at this stage the critical issue is being projected the sources of funding and raw material.
When a company is effectively established then the marking team always should support the sales team and have to taken care of all sales programs. The marketing programme should be designed according to the sales program. Otherwise, the entire effort of the marketing team will be worthless.
Another vital aspect of the marketing issue is that of the ‘exit strategy’. At the beginning itself, it is important to find out the ways, through which the company can get out of the industry. As per such necessity, the company should build up. ...Download file to see next pagesRead More
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