The biggest benefits to the bank are saved costs, reached a new segment of population, efficiency, enhanced the bank reputation in order to provide better customer service and increased customer satisfaction (Ngandu, 2012). The cost of internet transactions was less than the cost of branch transactions (Ngandu, 2012). Internet banking enhanced the relationship between the bank and the customer, because bank provided service directly to customers. Even customers not able to personally appeared at physical branch, this would create customer loyalty (Yohannes, 2010). Internet banking services are a must for banks due to increased online service provided by other financial institutions, for example insurance companies (Raghunandan, 2012).
4.3 Swot Analysis of CRM in Banking Industry STRENGTHS Analyzing Profitability Jayashree, Shojaee, Pahlavanzadeh (2011), this is the key strength of a good Customer Relationship Management (CRM) strategy due to those customers will make profit in future. Profitability is determined in the light of the lifetime value of the customer to the organisation, taking into consideration the income and expenses related with each customer over time (Gordon, 1998). Oliver (1999) suggests that a customer is loyal when he is committed to repurchasing a service or product that favour by customer although when there are marketing efforts and situational influences having the potential to cause switching behaviour. The customers who regularly purchase a bank’s
In 1978, HSBC has converted from manual book keeping to a computer system in order to simplify the work. Since 1990’s till 20th century, there are a lot of competitors in banking industry. Therefor, HSBC implemented for a better management decision. Under this theory consist of a series of decision-making for the best inputs for most appropriate decisions. In order to attract more customers to do banking with HSBC, the operation management teams use quantitative techniques to resolve and to boost in sales by introduce a new product that is new in the market and at the same time can increase HSBC financial.
Buyers can attain information regarding the different products, services, and brands working in the market through the internet. Moreover, because of online marketing, customer now have much information about the same products that are offered by different brand due to which probability of switching has increased (Verhoef, et al., 2009). Therefore, it is important for all the organisations to determine the online marketing strategy that would work best with their functions and would have positive impact on the purchasing decision of customers. This research study is considered as significant because it would help Tesco in analysing the method through which they could influence the Purchasing decision of customers. Moreover, they would also come to know about the strategies that would work best with their business (Bray, et al.,
The relationship between e-banking and service quality can be studied with the level of satisfaction. E-banking plays a pivotal role in giving satisfaction to the customers because e-banking fills the gap between the expected and perceived service quality. So in order to fill this gap, banks should find ways of making electronic services more accessible and by allowing the customer to verify the accuracy of the e-banking transactions. There are number of reasons due to which customer satisfaction on account of e-banking has improved. The reasons are as follows; 1.
Some of the digital marketing platforms like Google Ad words, Google Webmaster tools, Google Analytics, Facebook, Twitter, Linked IN, which help to track customers, perform customer engagement and thus interact with them effectively and efficiently. Thus, it also stated as the online marketing platform that helps to connect with the clients and the audiences and thus helps in effective customer
And day after day, new behaviors and habits are emerging, like smartphone use, cloud computing, etc… Today, the part of time dedicated to internet exceed 2% in Europe and % in United States. The second major characteristic of the digital strategy is the universality of its impact on the customer path. Digital is not only about corporate communication, but also about marketing, sales, distribution, CRM (customer relationship management), services, and even innovation (with the co-creation, and the
(Anders Hasslinger, 2016) Undeniably, the online business had gradually increased these few years. Traditional markets also need to make changes to keep up with the pace of the times in order to be competitive in the market. Therefore, E-commerce has become an irreplaceable marketing channel in business transactions. Online stores and services are an important sales channels in business to customer (B2C) transactions. A customer will not bind to a specific opening time or location, people will be active at anytime and anywhere.
ABSTRACT The Indian Information Technology (IT) services industry, has been through a lot of ups and downs since the 2008 financial crisis hit it hard. The Indian IT is transitioning to the digital age from the traditional projects as there is opportunity for growth in Digital Technology projects. Indian IT Companies are in a strategic position among technology companies in the world and has the capability to move to the next level and adapt to new technologies in the IT spectrum. The Indian IT Companies has been reporting downward growth for past few quarters, but they are making efforts to be in high growth trend. They are highly optimistic about the opportunities brought by the digitalisation for their future growth.
The Internet changed the tourism industry structure by changing the barriers to entry, decreasing switching costs, transforming the distribution channels, aiding price transparency and competition and enhancing production efficiency. The Internet also changed the rivalry structure in the industry and it enhanced the bargaining power of suppliers. Thanks to the Internet, buyers gained bargaining power because they now have instant access to information, they understand the market offers and conditions better and are constantly exposed to special offers. The business function that is mostly affected by ICT is marketing and distribution. Organisations that use the Internet as a marketing tool will gain advantages in cost reduction, revenue growth, marketing research and data base development, and customer retention.