...What are the key elements of CRM at RBC financial Group? At RBC , initially the the CRM model worked as follows - • Customer Profitability and Potential Measurement • Aggregate Information rather Actual Data For Customer Profitability measurement, the model aggregated information from a base of 8million data points(customer base) and distributed the profits over 1/10th each The 100/20 rule- this meant that 20% customers accounted for 100% profit.The model divided the customer base into three large baskets - a. Basket “A” = > customers made the most profit b. Basket “B” => customers made some profit c. Basket “C” => customers broke even or lost money This helped in aligning the sales force to customer profitability and laid the foundation for a customer centric firm. However, this wasn’t evolved sufficiently to enable channel optimization and relationship pricing. Also, it was observed that in some instances customers were treated without consideration of potential business they can contribute. Customer profitability calculations were not enough as customer could be both profitable and potentially profitable, bank needs both kind of customers. 2   Finally, calculated Future Profitability and Lifetime Value & segmentation is done based on Future Profitability and Lifetime Value 1) Calculate Present Value of Profit : We assume that profitability percentile of client remains constant throughout expected lifetime, and calculate the present value of those profits ...
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...The Effect Of Customer Relationship Management (CRM) On Customer Satisfaction In Banking Sector by Abdelmenam Ahmed Deghady Supervisor : Dr. Ashraf Labib Table of Content CHAPTER 1 : INTRODUCTION................................................................................................3 1.1 Introduction..........................................................................................................................................................4 1.2 Research Problem.............................................................................................................................................5 1.3 Study Hypothesis................................................................................................................................................5 1.4 The study variables.............................................................................................................................................6 1.4.1 Independent variables.............................................................................................................................6 1.4.2 Dependent variables................................................................................................................................6 1.5 Research Objectives...........................................................................................................................................6 CHAPTER 2 : Research Methodology...
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...Chapter 1. EXECUTIVE SUMMARYObjective My prime objective is to know about the functioning of Customer Relationship Management & its contribution towardsEconomic Development of the county Primary Data 1. Canara Bank.2. Mandvi Co.operative Bank.3. www.crmsurvey.com Secondary Data 1. CRM relating books.2. Economic Times.3. CRM Articles from South Indian Bank.4. CRM in India. Chapter 2. Customer Relationship ManagementIntroduction 1 Customer Relationship Management Customer Relationship Management is all about understanding thecustomer’s needs and leveraging this knowledge to increase salesand improve service. Customer Relationship Management blurs theboundaries between sales and services, and is used to unify acompany’s activities around the customer. The overarching goal isto increase customer share and customer retention throughcustomer satisfaction. True Customer Relationship Managementrequires relentless focus on the customer. That is it in a nutshell.Just as a Roadmap will help you to understand the roads, you willneed to take as well as alternative routes, so CRM helps signcompanies make decision about the best route and objectives for their situation.Many businesses use CRM as a management tool for after theprospect has been given to a customer, but to do this you mustattract the customer. Although CRM is great for managingcustomer relationship, it can also utilized for marketing purposeand you can squeeze out of the most of a system that...
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...the program regionally or nationally. Founded in 1979 as a movie theatre company, its mission since the very beginning was focused in offering an exceptional entertainment experience towards movie-goers. Thus, the customers could enjoy the experience of having meal oi snack ar various branded concession counters or, playing in the arcade. Following the growth as it grew substantially, Cineplex faced variable attendance level depending on the crop of new movies. The rating of Revenue Per Guest (RPG) that is utilized as a prime measurement towards Cineplex’s achievement fluctuated in accordance with the film genre presented. As the executives found out, the audiences for action-themed and children’s movies purchased a high volume of concession items which typically resulted higher RPG than dramas. From the pattern discovered, they were able to map the particular groups of customers for specific events and offers. Through this, a Customer Relationship Management (CRM) program is able to be established to help out Lewthwaite facing her challenge. Acting as a marketing approach in which a company collects individual purchasing information to improve its ability to understand and respond to customer desires and buying...
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...SDM - Siebel Systems: Anatomy of a Sale 2012 Case analysis “Siebel System: Anatomy of sales part 1 & 2” Assignment Submitted to Dr. G Sridhar, IIMK Prepared by: Name - Nitesh Kumar (Roll No : ePGP-03-138) Company – Bajaj Auto Ltd (International Marketing – Africa - Kenya) 1 SDM - Siebel Systems: Anatomy of a Sale Table of Contents 2012 Table of Contents........................................................................................................................................2 Introduction ................................................................................................................................................3 Corporate culture – “Siebel”........................................................................................................................4 Distinct leadership status............................................................................................................................4 The situation................................................................................................................................................5 Quick & Reilly : A Background......................................................................................................................6 Question 1 ..............................................................................................................................................7 Question 2................................................
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...years back Bangladesh Bank undertook a project to review the global best practices in the banking sector and examines in the possibility of introducing these in the banking industry of Bangladesh. Four ‘Focus Groups’ were formed with participation from Nationalized Commercial Banks, Private Commercial Banks & Foreign Banks with representatives from the Bangladesh Bank as team coordinators to look into the practices of the best performing banks both at home and abroad. These focus groups identified and selected five core risk areas and produced a document that would be a basic risk management model for each of the five 'core' risk areas of banking. The five core risk areas are as follows- a) Credit Risks; b) Asset & Liability / Balance Sheet Risks; c) Foreign Exchange Risks; d) Internal Control & Compliance Risks; and e) Money Laundering Risks. Bangladesh Bank in one of it’s circular (BRPD Circular no.17) advised the commercial banks of Bangladesh to put in place an effective credit approval and monitoring system by December, 2003 based on the guidelines sent to them. In my study, I would try to put forward my findings about the “Credit Management Policy of Bangladesh Bank, and its implementation”. To illustrate my point, I am giving the example of Bank Asia Limited. 2. Objectives of the study. Broad objective: ❖ The broad objective is to know the Credit Management Policy of Bangladesh Bank. ❖ To analyze...
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...[Pick the date] | Table of Contents 1. The Company - Introduction 3 2. The Product 4 3. Core Competencies of Thailand 5 ♦ Country Profiles 5 ♦ Demographic Factors 6 ♦ Political Scenario 9 ♦ Economic & Financial Conditions 12 ♦ Legal & Bureaucratic Environment 15 ♦ Competitive Environment 16 ♦ Effects of Porters’s Diamond four factors 17 ♦ Hofstede’s Dimension Evaluation 19 Power Distance (PDI) 19 Individualism(IDV) 20 Masculinity / Femininity (MAS) 20 Uncertainty avoidance(UAI) 20 Long term orientation(LTO) 21 ♦ Labor Climate 21 4. Infrastructures Issues 23 5. Diamonds of Competitiveness for Thailand and Malaysia 25 6. Technology and CRM Implications 26 7. Marketing Strategies 30 ♦ Size of Market 30 ♦ Socioculture Acceptance of Product 32 ♦ Method for Marketing & Distributions 32 8. Conclusion 33 References 34 1. The Company - Introduction Picture 1 ICT Facilities Integrated Container Terminal (Thailand) Pte (ICT) was incorporated in 1st February 2011 with an authorized and paid up capital of Thai Baht 10 million. The company’s nature of business is container storage, maintenance and repair of containers. ICT (Thai) is a subsidiary of Integrated Container Terminal (M) Sdn Bhd, located in Pelabuhan Tanjung Pelepas, Malaysia. The company was established on the 6th February 2002 and currently is one of the main service providers for container storage in Malaysia’s port. 3 Picture...
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...DHAKA BANK LIMTED [pic] EXCELLENCE IN BANKING DEPARTMENT OF FINANCE & BANKING UNIVERSITY OF CHITTAGONG CHITTAGONG. CREDIT RISK MANAGEMENT OF Preface The banking sector of Bangladesh is dominated by commercial banks with huge debt burdens. Inefficiency in loan sanctioning, expansion of preferential loans, and poor classification and administration of loans has led to the slow recovery of credit extended by the banks. To restore efficiency and accountability in this sector, an effective credit risk management system is necessary. To manage credit risk efficiently Bangladesh Bank has provided a guideline for CRM. Besides, Basel Committee on Banking Supervision has set a guideline on Sound credit risk assessment and valuation for loan in order to encourage banking supervisors globally to promote sound practices for managing credit risk. This paper presents a comparative picture of credit risk management of Dhaka Bank Limited with Bangladesh Bank’s guidelines and Basel Committee for Banking Supervision’s (BCBS) guideline regarding Credit Risk Management. This report also provides an overview of the Credit Risk Management of DBL. In this report DBL’s credit risk management system is analyzed into three sections. First of all the policy guidelines have been analyzed and compared with Bangladesh bank’s guideline. After that the organizational structure & responsibilities have been analyzed in line with guidelines of Bangladesh Bank. Then...
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...1 Introductory part CHAPTER 01: INTRODUCTION 1.1 Introduction Bank is a financial intermediary whose prime function is to move scarce resources in the form of credit from savers to those who borrow for consumption and investment. The main use of bank fund is to collect money from surplus unit and lend it to deficit economic unit as credit. A bank’s main earning source is interests on different credits. In order to ensure the effectiveness and efficiency of utilization of bank fund in the form of credit, the bank has to carry out a certain course of action that is known as credit operation. Credit Management is a dynamic arena in banking industry where a certain standard of long-range planning is needed to allocate the fund in diverse field and to minimize the risk and maximize the return on the invested fund. While sanctioning of credit undergoes some steps like collecting of related documents and information with duly filled-up credit application form, scrutinizing, investigation, preparation of proposal, sanctioning, pre-disbursement compliance, disbursement, supervision, monitoring. Credit Management deals with all this process. An important task under this section is credit risk management which is simply defined as the potential that a bank borrower or counterparty will fail to meet its obligations in accordance with agreed terms. Effective credit administration works to ensure good recovery of loan which is the key to long-term success of any banking organization...
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...TABLE OF CONTENTS I. INTRODUCTION 1 II. HISTORY OF CRM MARKET 3 Major Vendors 5 Current Offerings 6 III. DEFINITIONS OF CRM 6 IV. DRIVERS FOR CRM APPLICATIONS 9 Reasons for Adopting CRM: The Business Drivers 9 Cost Goals 10 V. THE CRM INDUSTRY 11 Size of the CRM Industry 12 Vendors 13 Technology and Service 15 VI. INFORMATION TECHNOLOGIES FOR CRM 20 Key CRM Tasks 20 IT Factors of CRM Tasks 22 VII. CONSULTANTS 23 VIII. RETURN ON INVESTMENT OF IMPLEMENTATION 24 Cost and time 24 Benefits 25 ROI of CRM Projects 27 IX. PRINCIPLES OF CRM 27 X. CRM ISSUES 28 Customer Privacy 28 Technical Immaturity 30 XI. CASE STUDIES 31 Amazon.Com 31 Dell 32 Volkswagen 33 Wells Fargo 34 XII. CONCLUSIONS 36 REFERENCES 37 APPENDIX A BASIC ASSUMPTIONS OF CRM 40 APPENDIX B COMMON MYTHS OF CRM 41 APPENDIX C LIFETIME VALUE OF A CUSTOMER 44 C1. Simple Approach 45 C2. More Sophisticated Calculation 46 C3. Effect of Loyalty Programs 47 C4. Additional Factors to Consider 49 C5. The Arithmetic of Lifetime Value 49 C6. Example: Applying Lifetime Value Concepts in Banking 51 C7. Summary and Conclusions on Lifetime Value 53 APPENDIX D VENDOR’S WEB SITE ADDRESSES 55 2 Version 3-6 March 23, 2001 CUSTOMER RELATIONSHIP MANAGEMENT Paul Gray Jongbok Byun I. INTRODUCTION Over a century ago, in small-town America, before the advent of the supermarket, the mall, and the automobile, people went to their neighborhood general store to purchase goods. The proprietor and the...
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...opportunity to do my internship in BRAC Bank Limited at its Head office at Gulshan-1, Dhaka. Here I have conducted my study on “Credit Approval & Monitoring process of BRAC Bank Limited” with respect to Bangladesh Bank guidelines. My faculty supervisor Mr Khandaker Zahidul Alam, Assistant Professor of BRAC Business School, BRAC University, also approved the topic and authorized me to prepare this report as part of the fulfillment of internship requirement and gave me proper guidance and assistance over time. 1.2 Background of the Report Four years back, Bangladesh Bank undertook a project to review the global best practices in the banking sector and examines in the possibility of introducing these in the banking industry of Bangladesh. Four ‘Focus Groups’ were formed with participation from Nationalized Commercial Banks, Private Commercial Banks & Foreign Banks with representatives from the Bangladesh Bank as team coordinators to look into the practices of the best performing banks both at home and abroad. These focus groups identified and selected five core risk areas and produced a document that would be a basic risk management model for each of the five 'core' risk areas of banking. The five core risk areas are as follows- a) Credit Risks; b) Asset & Liability / Balance Sheet Risks; c) Foreign Exchange Risks; d) Internal Control & Compliance Risks; and e) Money Laundering Risks. Bangladesh Bank in one of it’s circular (BRPD Circular...
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...[pic] BUS488 Strategy Assignment 2 - Individual Assignment July 2012 Presentation By: Tang Jiwei (Z0902316) Introduction: South Beauty Group Founded in 2000, the South Beauty Group has come to be a successful player in China’s catering industry. By 2007, the Group had expanded to 20 outlets in commercially valuable locations in China, with three different brands. Winning a contract to become a food service partner of the Beijing Olympic Games in 2008 would bring more revenue than in 2007 to the Group. Challenges lay ahead for the company as founder Zhang Lan sought to expand the Group’s operations worldwide. An ambitious plan of increasing the number of outlets from 20 locally to 100 worldwide over the next three years raised critical decisions that the Group had to make. These include the issues of standardization in the process of food preparation to increase efficiency and quality, the prioritization of markets to enter, entry into new businesses including airline catering, and the expansion model to follow. Question 1 A competitive advantage is a strategy implemented by a firm which competitors find are unable to duplicate or too costly to imitate, and strategic competitiveness is achieved when a firm formulates and implements a strategy that creates value successfully (Hitt et al., 2011, pp. 4). Only when a firm is able to continuously develop new competitive...
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...Question 1: The fundamental argument underlying Harrah’s strategy; is it better to catch many small fish or one big whale? The most rewards should be given to the group of customers with high customer worth, or customers who could potentially transition into that category (high predicted worth). Casinos typically target high rollers with a large bank roll who play high stake games. They court these types of players, offering complimentary rooms or services. Harrah’s on the other hand chooses to target low income working class individuals or retirees. They offer individualized incentives to those players based on the customer’s spending pattern. Each incentive is crafted to be profitable for that unique customer. Harrah’s is able to capture a large sum with their Total Rewards program and catering to people who choose to play games like slots. Although these games are not high stake with large sums of money riding per bet, the odds are greatly stacked in the houses favor. Another characteristic unique to Harrah’s is that they reward not just winners but losers as well. Other casinos offer deals to people who win large sums of money in order to get those winnings back. Harrah’s, on the contrary, give out nominal rewards like a free dinner to people who loose. Those individuals see it as customer services and feel more inclined to gamble at Harrah’s rather than a competitor. These unique practices along with a sophisticated IT database targeting customers who are likely to spend...
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...Internship report on Retail Banking Unit & Performance Evaluation of IFIC Bank PREPARED BY Tamanna Lutfa BRAC Business School Internship report on Retail Banking Unit & Performance Evaluation of IFIC Bank Ltd. Submitted By Tamanna Lutfa ID: 07204012 Submitted To Mr. Abdul Alim Baser Lecturer BRAC Business School BRAC University S U B M I S S I O N D A T E: DECEMBER 2 7, 2 0 1 1 Letter of Transmittal 27th December, 2011 To Abdul Alim Baser Lecturer BRAC University Subject: Submission of internship report on Retail Banking Unit & Performance Evaluation of International Finance Investment & Commerce Bank Ltd. (IFIC) Dear Sir, It gives me enormous pleasure to submit the internship report on “Retail Banking Unit & Performance Evaluation of IFIC Bank Ltd”. I expect this report to be informative as well as comprehensive. While conducting the report, I have gathered lots of knowledge about retail credit and many unknown facts, problems and prospects of retail or consumer lending on different banks like Prime Bank, Trust Bank, AB Bank, Dhaka Bank etc. I believe that the experience I acquired from this study will facilitate me a lot in my future career life. It has also to be mentioned that without your expert advice and cooperation it would not have been possible to complete this report. I shall be pleased to answer any sort of query you may have regarding the report. Sincerely yours, -----------------------------------------Tamanna Lutfa ID: 07204012 ...
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...environments thereby enhancing communication skills as the foundation of professional correspondences and understanding the general structure of most business situations by acquiring the new information and ideas so as to apply them for the benefits of the organization as well as the one’s own career development. The term “Bank” was derived from an Italian word “Banca”. Banks perform various specialized functions. Banks may be defined in terms of the various functions it performs. So it is quite impossible to define bank in just one word. However, bank can be described as such a financial institution that takes in funds as deposits repayable on demand or at short notice. According to the Shorter Oxford English Dictionary, “Bank is an establishment for the custody of money received from or on behalf of its customers. Its essential duty is to pay their drafts on it, its profit arise from the use of the money left unemployed by them.” Types of Bank There are many types of bank among them the main types of bank can be categorized as follows: a) Commercial Bank b) Development Bank b) Central Bank 1.2 Brief Introduction about Commercial Bank A commercial bank is a financial intermediary which collects credit from lenders in the form of deposits and lends in the form of loans. Encyclopedia Says: Commercial banking activities are different than those of investment banking, which include underwriting, acting as an intermediary between an issuer of securities and the investing...
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