+234 813 0686 500
+234 809 3423 853
info@grossarchive.com

EFFECT OF CUSTOMER RELATIONSHIP MANAGEMENT ON ORGANIZATIONAL PERFORMANCE

  • Type:Project
  • Chapters:5
  • Pages:92
  • Format:Microsoft Word
(Marketing Project Topics & Materials)

EFFECT OF CUSTOMER RELATIONSHIP MANAGEMENT ON ORGANIZATIONAL PERFORMANCE

(A CASE STUDY OF ACCESS BANK PLC)

CHAPTER ONE

INTRODUCTION

1.1    BACKGROUND OF THE STUDY

Customer relationship management has attracted the expanded attention of practitioners and scholars. More and more companies are adopting customer-centric strategies, programs, tools, and technology for efficient and effective customer relationship management. They are realizing the need for in-depth and integrated customer knowledge in order to build close cooperative and partnering relationships with their customers. The emergence of new channels and technologies is significantly altering how companies interface with their customers, a development bringing about a greater degree of integration between marketing, sales, and customer service functions in organizations. For practitioners, customer relationship management represents an enterprise approach to developing full-knowledge about customer behavior and relationship marketing, these are not distinguished from each other in themarketing literature (Parvatiyar&Sheth, 2000).

The ability to identify profitable customers and then customize marketing on the basis of customer value has enabled many banks to punch above their weight in today's competitive environment. Banks have chosen to compete through superior customer relating capabilities based largely on the customer relationship management programs deployed. It will come as no surprise that vendors are quick to point out that by allocating resources to customer relationshipmanagement technologies, all firms in the financial services sector cangenerate new forms of competitive advantage. Customer relationshipmanagement has attracted the expanded attention of practitionersand scholars. More and more companies are adoptingcustomer-centric strategies, programs, tools, and technology forefficient and effective customer relationship management. They arerealizing the need for in-depth and integrated customer knowledge inorder to build close cooperative and partneringrelationships with theircustomers. Nevin (2005) points out that these terms have been used to reflect a variety of themes and perspectives. Some of these themes offer a narrow functional marketing' perspective 'while others offer a perspective that is broad and somewhat pragmatic in approach and orientation.

A narrow perspective of customer relationship management isdatabase marketing; this emphasizes the promotional aspects of marketing linked to database efforts.

Another narrow, yet relevant, viewpoint is to consider customer relationship management only as seeking customer retention by using a variety of after marketing tactics that lead to customer bonding or staying in touch with the customer after a sale is made (Vavra, 1932). A more popular approachwith the recent application of information technology is to focus on individual or one-to-one relationships with customers that integrate database knowledgewith a long-term customer retention growth strategy (Peppers &Rogers, 1933).

Thus, Chatters &Buttle (2003) have defined relationship marketing as "an integrated effort to identify, maintain, and build up a network with individual consumers and to continuously strengthen the network for the mutual benefit of both sides, through interactive, individualized and value added contacts over a long period of time" . Jackson (1985) applies the individual account concept in industrial markets to suggest customer relationship management to mean, "Marketing oriented toward strong, lasting relationships with individual accounts".

0’Dounel(2000) has professed a more strategic view by putting the customer first and shifting the role of marketing from manipulating the customer (telling and selling) to genuine involvement with the customer (Communicating and sharing knowledge). In somewhat broader terms, also has a strategic viewpoint concerned with customer relationship management. He has stressed that attracting new customers should be viewed only as an intermediate step in the marketing process and that developing closer relationship with these customers and turning them into loyal ones should be equally important aspects of marketing. Thus, he proposed that relationship marketing be seen as "attracting, maintaining, and - in multi-service organizations - enhancing customer relationships"

Berry's notion of customer relationship management resembles that of other scholars studying services marketing, Gummesson (1987), and Levitt (1983). Although each one of them has espoused the value of interactions in marketing and its consequent impact on customer relationships, Gronroos and Gummesson (2004) take a broader perspective and advocate that relationships with customers be the focus and dominant paradigm of marketing. For example, Gronroos (2006) states: "Marketing is to establish, maintain, and enhance relationships with customers and other partners, at a profit, so that the objectives of the parties involved are met. This is achieved' by a' mutual exchange and fulfillment of promises” (p. 138). The implication of Gronroos'(2006) definition is that forming relationships with customers is the "raison de etre" of the firm and marketing should be devoted to building and enhancing such relationships.

Similarly, Chartes and Buttle (2003) draw' upon the distinction made between transactional exchanges and relational exchanges by to'suggest that relationship marketing "refers to all marketing activities directed toward establishing, developing, and maintaining successful relationships."

The core theme of all Customer Relationship Management and relationship marketing perspectives is its focus on a cooperative and collaborative relationship between the firm and its customers, and / or other marketing actor. This is characterized by cooperative relationships as being interdependent and long-term orientated rather than being concerned with short-term discrete transactions.

1.2    STATEMENT OF THE PROBLEMS

New market condition sharpens competition among rivalry companies. The number of competitor raises while at the same time the services and products available on the market differ less and less at their core. This has resulted in decreasing· of customer retention and increasing costs to do business. For most business customer relationship management is emerging' as an important tool and an innovative way to add their products and services. Effective customer relationship management has become a strategic imperative for companies in virtually every business sector. Companies are moving closer to their customers, expanding more effort in finding new ways to create value for their customers and transforming the customer relationship into one of solution finding and partnering rather than one of selling and order taking. In view of the vital place occupied by customers in the realization of its objectives, the following questions become pertinent.

i.          Is there any relationship between customer relationship management and its effectiveness and efficiency?

ii.        Is effective customer relationship management any effect on its profitability?

iii.       Does customer relationship management any effect on rate of customer's relationship?

iv.       Does customer value create an off short of customer relation management?

1.3     OBJECTIVES OF THE STUDY

The aim of this study is to examine the effect of customer relationship management on organization performance, while specific objectives are follows;

i.          To examine the effect of customer relationship management on organization efficiency.

ii.        To examine whether implementation of customer relationship management promote profitability of the organization

iii.       To identified whether customer relationship management contribute to customer value creation in the organization

IV.       To identified whether organization has Loyalty program to enhance the Lifetime Value for your Customers

1.4     RESEARCH QUESTIONS

For the purpose of this research work, the following questions will examine;

i.          Is there any relationship between customer relationship management and efficiency services delivery?

ii.        Could implementation of customer relationship management enhances profitability of the organization?

iii.       Could customer relationship management contribute to customer value creation in the organization?

1.5    STATEMENT OF HYPOTHESES

Ho1:    There is no significant relationship between customer relationship management and efficiency services delivery.

Ho2:  There is no significant relationship between of customer relationship management and profitability

H03:   There is no significant relationship between of customer relationship management and value creation

1.6   SIGNlFICANCE OF THE STUDY

The study considers the customer relationship management. This study will guide owners of businesses, managers,researchers and students in the area of customer management. The study will provide basic understanding of the impact of customer relationship management in Lagos and Nigeria in general. It will also contribute knowledge as to how businesses in Nigeria could create and refine their capacity to establish and implement an effective customer relationship management.

1.7    THE SCOPE AND DELIMITATION OF THE STUDY

The scope of this study shall be restricted to Access Bank PIc in Lagos State. Due to limited time, the research will make used of interviews and questionnaire method and this will be restricted to staff of Access Bank in Lagos state.

1.8     PLAN OF THE STUDY

This study is divided into five chapters, chapter one sets out the background of the study (Introduction), statement of the problem, significant and relevance of the study, objective of the study, research questions and research hypothesis, scope and limitation of the study' and' plan of the study. Chapter two deals with literature review and theoretical foundation which includes concepts and definitions. Chapter three undertakes research methodology. Chapter four looks into data presentation and crucial analysis of data collected and analysis of results. While chapter contains summary, conclusion and recommendation. 

EFFECT OF CUSTOMER RELATIONSHIP MANAGEMENT ON ORGANIZATIONAL PERFORMANCE
Share This

Details

Type Project
Department Marketing
Project ID MKT0524
Price ₦3,000 ($9)
Chapters 5 Chapters
No of Pages 92 Pages
Format Microsoft Word

500
Leave a comment...

    Details

    Type Project
    Department Marketing
    Project ID MKT0524
    Price ₦3,000 ($9)
    Chapters 5 Chapters
    No of Pages 92 Pages
    Format Microsoft Word

    Related Works

    (A STUDY OF FIRST BANK NIG. PLC, AKPAKPAVA BRANCH, BENIN CITY) CHAPTER ONE INTRODUCTION 1.1 BACKGROUND OF THE STUDY Relationships are the soul of life. It is hard to think regarding any society or organization to survive without relationships. They are the imperceptible... Continue Reading
    THE IMPACT OF EFFECTIVE CUSTOMER RELATIONSHIP ON ORGANIZATIONAL PERFORMANCE (A STUDY OF FIRST BANK NIG. PLC, AKPAKPAVA BRANCH, BENIN CITY) ABSTRACT Banking today has become more innovative, competitive and attractive to other investors in the sector. The competitions as a result of high numbers of people who do not have bank accounts have driven... Continue Reading
    Background of the Study The banking sector is becoming increasingly competitive around the world. Today, many businesses such as banks, insurance companies, and other service providers realize the importance of Customer Relationship Management (CRM) and its potential to help them acquire new customers, retain existing ones and maximize their... Continue Reading
    INTRODUCITON 1.1   Background of the Study It is observable that a number of organizations are excellent at appearing or pretending to care for their customers. Some companies only pay “lip service” to their customer satisfaction. Others are remote from their customers and do not listen to them, while still some other companies believe that... Continue Reading
    (A CASE STUDY OF UNITED BANK OF AFRICA (UBA) PLC ABSTRACT Since the abstract is a précised summary of what is actually done in a project, it means that the following information should be contained therein. The topic under study and the location, the statement of problem, the... Continue Reading
    (A CASE STUDY OF UNITED BANK OF AFRICA (UBA) PLC ABSTRACT Since the abstract is a précised summary of what is actually done in a project, it means that the following information should be contained therein. The topic under study and the location, the statement of problem, the... Continue Reading
    THE (A CASE STUDY OF UNITED BANK OF AFRICA (UBA) PLC ABSTRACT Since the abstract is a précised summary of what is actually done in a project, it means that the following information should be contained therein. The topic under study and the location, the statement of problem, the... Continue Reading
    (A STUDY OF AIICO INSURANCE PLC) ABSTRACT This study examined the effect of relationship marketing on organizational performance using the AIICO Insurance Plc as a study. The survival, success and continuity of service organizations depend on effective relationship marketing. The... Continue Reading
    ABSTRACT The researcher examined the of customer and employee relationship on the management of Hospitality industry both privately owned and publicly owned establishment in Asaba Delta State. The objective is to determine whether cordial  relationship exist between customer and employees in Hospitality establishment, to this end, the researcher... Continue Reading
    CHAPTER ONE INTRODUCTION 1.1     Background Of Study Customer relationship management (CRM) is a term that refers to practices, strategies and technologies that companies use to manage and analyze customer interactions and data throughout the customer lifestyle, with the goal of  improving  business relationships with customers, assisting in... Continue Reading