Nobody downloaded yet

Loyalty And Customer Relationship Management In Banking Sector: Case Study Of HSBC - Essay Example

Comments (0) Cite this document
This thesis presents a study of Customer Relationship Management (CRM) and customer loyalty at one of the world’s premier global banking organisations, the Hongkong and Shanghai Banking Corporation (HSBC) from a customer perspective. It is impossible to overemphasise the…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER93.3% of users find it useful
Loyalty And Customer Relationship Management In Banking Sector: Case Study Of HSBC
Read TextPreview

Extract of sample "Loyalty And Customer Relationship Management In Banking Sector: Case Study Of HSBC"

Download file to see previous pages A literature review together with a customer survey present insights into the customer loyalty, customer satisfaction measures and CRM in banking. However, it is possible to conclude that the human element is likely to the most important for success in any banking organisation.
Customer relationship management (CRM) presents opportunities leading to higher profitability and superior competitive advantage (Roberts, 2005, Pp. 315 – 316). Thus, in an era when banks are facing tougher competition and superior efforts are required to enhance profitability, CRM methods have attracted a renewed interest in the development of banking strategy for enhanced performance (Blery, 2006, Pp. 116 – 117). Attempts to develop improved relationships with customers can lead to customer retention, a sense of loyalty among customers and improved long-term profits due to an improved bottom line result. Seminal work on CRM suggests that even a small increase in customer retention rates can result in large increases in the profitability of an organisation (Wilson, 2002, Pp. 193). Research studies have suggested that the costs involved with trying to retain customers are lower than the costs associated with the acquisition of new customers. Thus, it makes sense for banks and other organisations to try to improve customer retention and customer loyalty by applying superior CRM strategies as a part of their overall strategy. Thus, many players in the banking industry have invested heavily in customer relationship management within the past decade in customer relationship management in an effort to enhance customer retention rates and profitability (Dibb, 2004, Pp. 111 – 112).
Literature suggests that it is impossible to present a single, all encompassing definition of the term CRM and a number of definitions exist for the term CRM (Liu, 2007, Pp. 15 – 17). It is possible to define CRM in terms of being a management approach that enables organisations ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(“Loyalty And Customer Relationship Management In Banking Sector: Case Essay”, n.d.)
Loyalty And Customer Relationship Management In Banking Sector: Case Essay. Retrieved from
(Loyalty And Customer Relationship Management In Banking Sector: Case Essay)
Loyalty And Customer Relationship Management In Banking Sector: Case Essay.
“Loyalty And Customer Relationship Management In Banking Sector: Case Essay”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Loyalty And Customer Relationship Management In Banking Sector: Case Study Of HSBC

Brand Loyalty

...?Comparison of traditional problem solving approach to consumer decision making process and the holiday decision making process: Introduction: Decision making and problem solving are two extremely important skills that an individual requires both in business and everyday life. Decision making and problem solving are related concepts, each of which requires use of innovation and creativity in realizing available options. Brainstorming is commonly employed to achieve this purpose. Problem solving skill itself makes use of the decision making ability, while decision making is required for effective leadership and management. Various models have been conventionally put forward to elaborate the decision making process that an...
10 Pages(2500 words)Case Study

Customer Relationship Management (CRM) in the Hotel Industry

...RELATIONSHIP MANAGEMENT (CRM) IN THE HOTEL INDUSTRY Answer A: Hotel industry all over the world has evolved since 1990s until now in terms of consumers and marketplace. However, the importance of customer relationship management (CRM) remains there for the hotel industry despite of the changes. “Customer relationship management (CRM) is a management strategy that unites information technology with marketing” (Ueno 2006). Managers of hotels and restaurants are focusing on proper CRM, as it is the key to customer retention. As Rossell (2011) states, “the...
6 Pages(1500 words)Case Study

Marketing- CRM (customer relationship management)

...& practical understanding of CRM and information collected about Sony Corporation. Reference List: Aaker, David A. (2004). Leveraging the Corporate Brand. California Management Review. Vol. 46. No. 3. pp2-12. Ballard, Kirsten. (2008). Building a strong Customer-Centric strategy to enable CRM and develop customer Loyalty. Applied Information Management Program, University of Oregon. pp46-47. Bueren, Adrian and Schierholz, Ragnar et al. (2004). Customer Knowledge Management - Improving performance of Customer Relationship Management with Knowledge...
18 Pages(4500 words)Case Study

Human Resource Management and Building Employee Loyalty

... and conflict resolution. Employee loyalty is extremely short-lived, and for the most part employees do not anticipate being among the same employer subsequent to a few years. Employers are in addition to realizing that finding and keeping high-quality talent is not just concerning money any longer. Employees are leaving their jobs for reasons such as disagreement with management, broken promises, or apparent lack of gratitude, support, or fixed and explained direction. Traditional human resources try to develop employee/employer relationships by offering monetary incentives and improved work environments. Xeleco should look at the problems affecting its relationship with employees then offer solutions to try and resolve employee... ...
11 Pages(2750 words)Case Study

Reflective on Customer Relationship Management Strategy

...Reflective on Customer Relationship Management Strategy Executive Summary In today's competitive market environment, effective brand management becomes imperative in enhancing market share and to attain sustainable growth. To compete with the market leaders and gain competitive edge, companies all over the world are using Customer Relationship Management (CRM) as an effective tool. In such a scenario, the most difficult challenge for a company is to retain their loyal customers and also to attract brand switchers. According to the online survey conducted by a New York-based consulting service firm, 67% of respondents reported switching companies because of poor customer service (Beal, 2008). At this juncture, the present essay... format...
12 Pages(2750 words)Case Study

HSBC Bank Development

...Introduction: The HSBC is one of the largest and oldest modern banking corporations in the world. Though current group holdings and its present structure was formed only in the 1990s, the financial institutions and the original Hong Kong and Shanghai Banking Corporation and the Mercantile Bank that it took over has over a generation of experience in the banking and financial sector. The company prides itself as the "World's Local Bank" and uses the words in all its sites. Throughout its long history, it can be seen that it was one of growth through banking strategy, innovation and acquisitions and only...
9 Pages(2250 words)Case Study

Marketing Spotlight on HSBC

...and subsequently key enhancements implemented in 1987, 1989, and 1994 (Peffers and Tuunainen. 1999). HSBC owns one of the most sophisticated & efficient banking transactions & customer service management systems of the world. As defined by Hamid and Amin et al. (2007), Internet Banking is a powerful mean of enhancing competitive advantages that should be informative, communicative & transactional as per the local customer needs. As reported by these researchers, HSBC is one of the few foreign banks that are able to compete effectively with the local banks at Malaysia & Thailand...
5 Pages(1250 words)Case Study

Introductory certificate in marketing- Understanding customer relationship involve the staff into the event successfully. At the same time, he should be able to bargain with the venue management staff confidently to pass his word over the table. This means that the personal in charge of the event should be confident and experienced in organizing such events so that no lapse could occur thereby avoiding any disrepute for the organization. If still any last minute problem occurs, things need to be re-checked the day before the event and issues need to be addressed promptly. References: Book Bibliography: Kotler. P & Keller. K. (2006). Building Loyalty & Reducing Customer Defection. Marketing Management. New Delhi. Dorling Kindersley Private...
12 Pages(3000 words)Case Study

Customer Relationship Management Program

... Customer Relationship Management Program INTRODUCTION: In today’s competitive world, organizations have changed from being product focused to customer focused. Success or failure of any organization is directly dependent on the satisfaction level of the customers. Hence almost every organization is looking forward to implement Customer Relationship Management system. Implementation of the Customer Relationship Management system result in enabling the organization to provide ultimate experience to the customers at all touch points. CASE STUDY VERIZON: IMPLEMENTATION OF CUSTOMER RELATIONSHIP MANAGEMENT PROGRAM: In the provided case study, after the merger of two Fortune 25 companies namely GTE and Bell Atlantic, main issue... was the...
2 Pages(500 words)Case Study

Customer Relationship Management: IKEA and HSBC provide customers across the world with excellent banking and financial services (HSBC, 2010). 3.0 Customer Relationship Management CRM is a business strategy that has been built around the notion of being customer-centric. The main aims are to have optimum revenue by better customer satisfaction through improved contacts at each client touch point. This is possible by an improved understanding of customers, on the basis of their demographics and purchasing patterns and a better interface with the customer at all touch / contact points (Learn that, 2007)....
10 Pages(2500 words)Case Study
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Loyalty And Customer Relationship Management In Banking Sector: Case Study Of HSBC for FREE!

Contact Us