6.1 Conclusion
The previous chapter presented an analytical evaluation between theory and collected results. This chapter on the other hand would present the conclusions and recommendations based on the study.
The main goal or rather the main objective of this research is to explore to which extent customer relationship management strategies have an impact on customer loyalty and retention. It is confirmed and it can be concluded, that the present customer relationship management strategies of CCC bank has a huge effect on customer loyalty as well as retention of corporate customers, since those strategies are the main scopes that will enable to manage the clients in a systematic manner. As such, it shows that CCC bank should strive to enhance …show more content…
Further on the other hand, it was recognized that due to extreme competition from other competitor banks, acquiring new customers as well as holding or retaining current customers have led to be a challenging task.
Agreeing to the study carried out, it was confirmed that retaining a set of loyal customers for a long period of time was not an easy task. This is mainly because it contains so many aspects such as looking from the customer’s viewpoint at all possible times rather than looking from the company’s point of view, which is quite challenging. Similarly, it was recognized that maintaining the current client portfolio is very much cheaper than to attract and gain new ones. On the other hand, it was evident that the strategies which are being taken by the relationship managers of CCC bank, to maintain relationships with current clients would encourage the current clients to a greater extent but however from the banks perspective, it is a dynamic and a meticulous job. Therefore it is vital that each and every employee understands the gravity of having a set of loyal customers, as well their own respective …show more content…
The writer was made to understand that there is a very interdepending relationship between service quality and customer loyalty as from the interviews it was evident customers come to CCC for the best service they receive comparing to other banks agreeing on the findings of Cronin & Taylor (1992), Pearson (1996), Fornell (1992). The writer contradict the findings of Oliver (1999) and Jones et al, (2002) as they have stated that there is no relationship between client satisfaction and loyalty while appreciating the work of Akbar and Praveez (2009), John (2011), Sivadas and Baker-Prewitt (2000) and Gommans, Krishnan and Scheffold (2001) as it was quite evident from the data analysis that there is a clear relationship and that differentiate CCC from its competitors. Plötner (1995), Ha (2004), Morgan and Hunt (1994) all explained that trust is a very important component of loyalty though, trust cannot be measured and for an business the trust would be felt by its staff members behavior or from the brand name. According to Barry (1983) relationship management was maintaining, attracting and enhancing and Robert et al(2006) agreeing on that described that this
The previous chapter presented an analytical evaluation between theory and collected results. This chapter on the other hand would present the conclusions and recommendations based on the study.
The main goal or rather the main objective of this research is to explore to which extent customer relationship management strategies have an impact on customer loyalty and retention. It is confirmed and it can be concluded, that the present customer relationship management strategies of CCC bank has a huge effect on customer loyalty as well as retention of corporate customers, since those strategies are the main scopes that will enable to manage the clients in a systematic manner. As such, it shows that CCC bank should strive to enhance …show more content…
Further on the other hand, it was recognized that due to extreme competition from other competitor banks, acquiring new customers as well as holding or retaining current customers have led to be a challenging task.
Agreeing to the study carried out, it was confirmed that retaining a set of loyal customers for a long period of time was not an easy task. This is mainly because it contains so many aspects such as looking from the customer’s viewpoint at all possible times rather than looking from the company’s point of view, which is quite challenging. Similarly, it was recognized that maintaining the current client portfolio is very much cheaper than to attract and gain new ones. On the other hand, it was evident that the strategies which are being taken by the relationship managers of CCC bank, to maintain relationships with current clients would encourage the current clients to a greater extent but however from the banks perspective, it is a dynamic and a meticulous job. Therefore it is vital that each and every employee understands the gravity of having a set of loyal customers, as well their own respective …show more content…
The writer was made to understand that there is a very interdepending relationship between service quality and customer loyalty as from the interviews it was evident customers come to CCC for the best service they receive comparing to other banks agreeing on the findings of Cronin & Taylor (1992), Pearson (1996), Fornell (1992). The writer contradict the findings of Oliver (1999) and Jones et al, (2002) as they have stated that there is no relationship between client satisfaction and loyalty while appreciating the work of Akbar and Praveez (2009), John (2011), Sivadas and Baker-Prewitt (2000) and Gommans, Krishnan and Scheffold (2001) as it was quite evident from the data analysis that there is a clear relationship and that differentiate CCC from its competitors. Plötner (1995), Ha (2004), Morgan and Hunt (1994) all explained that trust is a very important component of loyalty though, trust cannot be measured and for an business the trust would be felt by its staff members behavior or from the brand name. According to Barry (1983) relationship management was maintaining, attracting and enhancing and Robert et al(2006) agreeing on that described that this