Crm In The Nordic Banking Market
Submitted by jonasliljegren on 06/30/2008 05:21 PM
- Category: Business
- Words: 481
- Pages: 2
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Crm In The Nordic Banking Market
The purpose with our study was to find out in what ways the banks within the Nordic
area can increase their profitability and raise customer satisfaction by developing their
services with Customer Relationship Management (CRM). In order to fulfill our
purpose we conducted theoretical and empirical research. The theoretical research lead
us to a conceptual CRM model consisting of three main areas of CRM that we
believed could be used to increase profitability and customer satisfaction in banking.
We named these three areas information management, new service offerings and
proactivity, and customer interaction. The three areas acted as a base for the research
questions that we formulated.
Before we conducted our qualitative case study we interviewed employees at IBM BIS
Sweden and the Swedish Banker's Association in order to develop and improve our
research questions. The empirical study was both qualitative and quantitative and the
research questions were used in the qualitative part of the research, where employees
at five major Swedish banks were interviewed. Based on their answers and our
theoretical studies, a number of hypotheses were created. These were tested in a
quantitative study with 435 participants chosen among IBM Nordic's employees.
Based on the results from the empirical part of the study we concluded that our
conceptual model covered all the areas of CRM that the banks were familiar with and
were working on. By comparing the results from the qualitative and quantitative
surveys we found seven sub-areas of our CRM model that can be used by the banks to
develop their services in order to increase customer satisfaction and profitability.
The banks can increase their profitability by developing their services in three different
ways. Firstly, the banks can introduce customer profiles on their...
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