Abstract:
Customer Relationship Management is an effective weapon for organization to build and develop a good relationship with customers. Under current circumstance, new customers are hard to acquire by most banks in the country and The Trust Bank Ltd is no exception because of the keen competition prevailing among the banks in an attempt to mobilize customers. An alternative way to prospect new customers is to attract the customers from the competitors and also provide them the service they require and also prevent our customers from being attracted by competitors. Though Customer Relationship Management has come into existence for more than ten years, the application of Customer Relationship Management in the banking industry is still a new topic to study.
In this project, the researchers assess the impact of customer relationship management on the granting of consumer and retail credit of the bank as well as the recovery of loans at The Trust Bank Ltd.
Description:
As a result of globalization of business and the evolving recognition of the importance of customer retention, market economies and customer relationship economics, there has been a change in the main stream marketing (Gronroos, 1997). Kevin and Yen (2003) explained that over the past few years there has been a shift in relationship literature from focusing on the benefits of long term relationship for companies to the benefit that accrue to customers. Because of this it is becoming evident that companies fundamentally have to change the way in which marketing is done thus a fundamental shift from managing a market to managing a specific customer (Bose, 2002). Establishing relationship with a customer is to attract the customer and to build a relationship with the customer so that the economic goals of the relationships are maintained (Gronroos, 1997).
