Customer relationship management Mercantile Bank Limited

Abstract

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 customer, retain existing ones and maximize their lifetime value. This paper deals with the role of Customer Relationship Management in banking sector and the need for Customer Relationship Management to increase customer value by using some analytical methods in CRM applications.The main objective is to identify the key factors that influence the extent to which CRM helps to improve the service quality of the Mercantile Bank.Mercantile Bank Ltd seems to have acceptable level of satisfaction with its customers. The all three CRM factors Communication, Interpersonal relationship and Efficiency of banking service seem important since all these have moderate relationship with Service Quality.To improve the all three CRM factors Communication, Interpersonal relationship and Efficiency Bank should arrange employee Training so that employee can improve themselves in those three CRM factors.The whole report is divided into three parts-Introductory parts, Learning part and Project part. The first chapter is the introduction chapter of this report. The learning part shows customer relationship management of Mercantile Bank Limited, which includes description / nature of the job specific responsibilities of the job, different aspects of the job performance, critical observations and recommendation. The third and last chapter is the project part that contains problems, recommendations and conclusion of Mercantile Bank Limited.It can be argued that this report can become useful to explain the banking practices that are followed by the MercantileBank Ltd. This report also attempt to harmonize and link the theoretical knowledge, acquired in the MBA program, with the experience gathered in the period of practical orientation.