TABLE OF CONTENTS

Dedication...i
Acknowledgement..ii
Abstract..iii

Chapter 1
Introduction
1.1 Background of the Problem / Study ..

1.2 Statement of the problem....

1.3 Theoretical / conceptual Framework.

1.4 The Objective of Research..

1.5 Research Hypothesis...

1.6 Definition of Term...

1.7 Limitations of the Study.....

1.8 Significance or Need of Study.

Chapter 2
Literature Review
2.1 Literature Review.. 10

Chapter 3
Research Methodology
3.1 Research Design...16
3.1.1 Research Methodologies....16
3.1.2 Unit of Analysis......16
3.2 Source of Information..16
3.2.1 Sampling design.......17

3.2.2 Scaling.......17
3.3 Tool of the study.......17
3.4 Pre-Testing of the instrument.. ..18
3.5 Target Population...18
3.6 Sample size.......18
3.7 Sampling technique.18
3.8 Description of analysis technique...18

Appendices
A) References.19
B) Questionnaire21

CHAPTER 1
INTRODUCTION
1.1Background of the study

Customers are the essentials of every business and if the business does not satisfy the customers
then the Business runs out of its customers as soon as there are competitors on the market.
Customer satisfaction is highly dependant on the product delivered, but also on how well the
supplier maintains his relationship with the customer
The efforts invested in customer satisfaction should ideally return the maximum of the
investment. Efforts should be made both to strengthen and broaden the relationship. Some
customers are however more important than others in terms of potential return on investment.
This suggests that not every customer should have the same treatment but there should be
awareness of the strategies of how different customers should be handled to make the most of the
available resources for customer relationship management towards the desired goals. These
issues have clearly much in common with the well-known engineering software that is how to
achieve predictability in time, cost and quality. In the course of improvement activities, the
organizational consciousness and knowledge is increased, the participatory culture will become a
way of life and the employees involved in development and management know what is expected
from them in terms of task performance and responsibility.
In earlier days, it was easy to choose our bank, one could select the bank nearby, because people
knew the branch manager and families has maintained the account for a long time in banks
which were convenient and personal known. Banks retained customers loyalty through trading
on history and mutual loyalty, personal relationships, direct interactions and long-term
relationship of the

customer and knew them personally, not just as an account holder.

Technology, commoditization, deregulation and globalization forever changed the face of

banking. This model of banking is quaint memory taken over by MNC (multinational
companies), ATMs (Automatic Teller Machine), automated call centers, internet banking etc.
Number of product choices not fettered by traditional ties of familiarity and geography and this
has brought wealth of alternatives and has eliminated personalized nature of traditional banking
for the customer.
Banks and financial institutions competition makes it difficult to show competitive
differentiation and profits. Banks have hundreds of regional, local, global and national

competitors. In this a fragmented industry most players hold relatively small shares. Retail
bankers have to behave more like retail merchants, focusing on ways to gain customers, keep
them and maximize profitability from each by streamlining product costs and customer contact
channels. They spend large advertising budgets on television and print ads to lure new
customers. They wage motivated campaigns to cross-sell services to existing customers. They
constantly supervise and look for to increase sales in each product line.
Banking refers to mass-market banking where customers normally use banks for services such
as current and savings accounts, loans (like personal, housing, auto, and educational), mortgages,
depository services, debit cards, credit cards, fixed deposits, investment advice-giving services
(for high net worth individuals) etc.
Before arrival of Internet, customers used to select their banks based on how appropriate the
location of banks branches for them from their offices or homes. With the beginning of new
technology in the business, ATMs and Internet banking, consumers can freely choose any bank
for their dealings. Thus the customer stand of banks has been enlarged, and also the choice of
customers for selecting a bank.
Due to progression of globalization the beginning of the story has evolved. New generation of
private sector and foreign sector banks have entered the market. These banks have with them
several useful and pioneering products, due to which public sector banks are also becoming
technology savvy and customer oriented in order to meet the competition.
Thus, non-traditional competition, new technology, market consolidation and the rise of the
Internet has changed the picture of competitive landscape of the retail banking sector. Today
retail banking is characterized as follows:
Multiple products (such as insurance, investments, credit cards, securities and deposits).
Multiple channels of allotment (such as branch, kiosk, Internet and call centre).
Multiple customer groups (such as corporate small business, consumer etc).

 Today, customers have lots of hopes from bank such as Service at reduced cost,
Personalized Service, Service Anytime Anywhere etc.
With the increase of competition, number of banks, products, services and nearly no switching
costs, customers are easily switching banks if they find better products and services. Banks are
finding it hard to get new customers and more essentially retain existing customers base.
According to a research by Reichheld and Sasser in the Harvard Business Review, 5%
increase in customer retention can increase profitability by 35% in banking business, 50%
in insurance and brokerage, and 125% in the consumer credit card market. Therefore
banks are now stressing on retaining customers and increasing market share. (Surendra
2005)

1.2 Statement of the problem

Customer relationship management a growing concept to sustain and survive in the highly
competitive and dynamic business environment; almost every industry highlighted this issue
which is relevant to manage customer relationship and devised strategies to cure this issue.

1.3 Theoretical Framework

It can be argued that relationship management is as important to marketing management as
manipulating the marketing mix. Certainly, some would argue that relationship management is
the most crucial issue, particularly in a business to business situation where firms are often
reliant on small number of customers, their markets are relatively static and maintaining
existing client relationships is often essential to their ongoing business success. So it is therefore
important to understand why such relationship based perspectives have developed. It is also
necessary to consider how understanding the significance of relationships with individual
customers can be translated into management strategy and actions.
The dependent variable in the study is customer relationship management, which is the variable
of primary interest, in which the variance is attempted to be explained by the four independent
variables: (1) Wide Branch Network (2) Customize Product & Support Services (3) Effective
5

Marketing & Sales Force

(4) Low Service Charges. In addition, the relationship of the

dependent and the independent variables is modified by the moderating variable because these
all four independent variable highly effect customer relationship management concept in a such
that how you can

build relationship with customer without having these supportive tools

(independent variable). In all respect, nobody is willing to make relationship with banks because
Customer relationship management concept is not just confined the overall employees attitude
with customer but as well as it demand more you for which, you have to take certain action plan
that support the customer while performing job & also get satisfaction on timely completion of
job.
The moderating variable boost up the performance of independent variable. In this research
proposal, I will select moderating variable is the Bank Credibility. Bank credibility means that in
what sufficient amount of money or investment that the bank has to pay their debts. The overall
performance of independent variable can be enhanced and managed through bank credibility
because whenever bank/organizations credibility is not so strong enough so at that time, it is
quiet difficult for bank to bring efficiency in their operation, and it is also difficult to raise the
number of branches into to the different city of Pakistan, as well as it is difficult to optimize their
performance. This entire situation made up the reason for customer satisfaction. Beside the above
situation, the most considerable point is that the customer exhibit reluctant attitude to keep
relationship with bank without having good financial position of banks and Creditability is the
Key to Manage Customer Relationship because Customer do not invest in those Banks whose
agency services is not up to mark as defined by Pakistan credit rating agency (PCRA).
Intervening Variable is the variable which lies between dependant and independent variable. The
intervening variable in this research proposal will be turn-around time. Although bank has wide
branch network, customize product and support services, effective marketing and sales force,
low service charges but these all variable are useless without neglecting the importance of
turnaround time because that is the variable which determine and ensure the comparability of
different bank service. Turn-around time will serve as Intervening Variable because it is related
with time that establishes relationship with customer.
1) Dependent variable.

1.1 customer relationship management

2) Independent variable.
2.1 Wide Branch Network
2.2 Customize Products and support service.
2.3 Effective Marketing and Sales Force
2.4 Low Service Charges.
3) Moderating variable.
3.1 Bank credibility
4) Intervening Variable
4.1 Turn Around Time.

1.4 Objective of the Research

The objective of this research proposal is to develop the concepts of customer relationship
management and related issues in Pakistan is intended to be acquired through seeking answer to
a number of specific research questions. The following objectives are as fallows.
To identify the key success factors to survive in banking industry.
To find out the role/ importance of Customer Relationship Management in banks.
To assess the presence of Customer Relationship Management in Banks at different
levels.
To determine the extent to which Customer Relationship Management is properly
implemented.
To analyze the behavior of consumer while entering into banks to get financial services.

1.5 Research Hypothesis

To study the theory in a practical way it is important to develop the hypothesis & prove it. The
hypotheses will be:

Hypothesis 1: Wide Branch Network help-out in managing strong Customer relationship.

Hypothesis 2: Having Customize Products and support service are important for retaining
customers.
Hypothesis 3: Effective Marketing and Sales Force help-out to gain market share.
Hypothesis 4: Low Service Charges caused to increase profitability.

1.6 Definition of Term

a. Customer Relationship Management (CRM)
"Is a business approach that integrates People, Processes and Technology to maximize the
relations of an organization with all types of customers
b. Relationship Marketing
Relationship Marketing involves the understanding, focusing and management of ongoing
collaboration between suppliers and selected customers for mutual value creation and sharing
through interdependence and organizational alignment.
c. Database Marketing
The process of building, maintaining and using customer databases for the purpose of contacting
and transacting business.

d. Data Management
An ability to solve the problems associated with storing, managing and extracting information
from the numerous data sets being used by an organization.
e. Services
Services are produced not only by service businesses (Banks, clinics, Hotels) but are also
essential to the offerings of many manufactured-goods producers (Automobile, Home
appliances).
Services are deeds, processes, and performances.

Services are not tangible things that can be touched or felt, but rather are intangible deeds and
performances.
f. People
Front-line employees and those supporting them from behind the scenes are critical to the
success of any service organization..
g. Customer service
Is the service provided in support of a companys core products? Services are produced not only
by service businesses (Banks, clinics, Hotels) but are also essential to the offerings of many
manufactured-goods producers (Automobile, Home appliances).
h. Customer Experience
An experience can be described as the emotional effect on a person during the course of an
action or an event. The customer Experience is the emotional response of a customer or prospect
when interacting with a company during a business transaction.
i. Self-Service
Self-service technology "turns the monitor around" and empowers your customers and
employees by giving them a self-directed way to interact with your business.
j. Customer Analytics
Customer Analytics comprises all programming that analyzes data about an enterprises
customers and presents it so that better and quicker business decisions can be made. CRM
analytics can be considered a form of online analytical processing (OLAP) and may employ data
mining.
k. Sales Force Automation (SFA)
Software to support sales reps. the software gives sales representatives access to contact details,
appointments, sales opportunities, customer purchase history, order management etc. It is likely

to be integrated with customer Relationship Management systems and Opportunity Management

Systems.

1.7 Limitations of the Study

The limitations of the study have certainly narrowed the scope of the study through various
reasons. Firstly, there would be time and availability constraints from the banks as well as bank
employees. The other limitation is interviewing with those customers who purchase the products
and services directly from the agent but as well as the main decisions regarding the adoption of
new strategies are in the hand of branches, therefore it would be difficult for the branches, to
answer certain questions. The final limitation in deciding about the statistical technique, which
has to be applied for selecting the sample. Selecting the customers randomly will be adopted in
this study because the banks refused to provide the customer list as a part of their policy matter.
The restriction is also there in applying any statistical test to the data, as the data collected
through a multiple sources like Questionnaire, and unstructured interview conducted for the
improvement of Questionnaire.

1.8 Significance or Need of Study

The significance of study relates to the future impact of the relationship management. This study
not only gives an insight to the relationships between the customers and seller but also provides a
broad spectrum about the customers through their relationship cycle. This research will not only
discuss the various theories of the relationship management but will also study the base of the
modern customer relationship management concept. This concept can be in future applied to
study the various types of customers like customers for service, customer for fast moving
consumer goods, customers for durable goods and customers for luxurious goods. The
importance of customer relationship and its relationship to profits is under study for most of the
sellers and another important factor is managing customer satisfaction and retention, customer
problems and complaints. These factors indicate the importance of customer relationship.
Customer relationship management has significant importance from the changes occurring in the
todays competitive environment. Globalization and the internet mean that the competition can
now come as easily from around the world as from around the corner. Shorter product life cycles
10

have prevented companies from enjoying the long-term benefits of being product innovators. Not
only can competitors bring copycat products to market faster but also new generations of
products are introduces much more quickly. Power and choices are moving to customer as never
before and leading to the commoditization of products and services in many situations. So
customer relationship management basically helps companies to cash upon their core
competencies for a longer duration by making the first move to capture more customers and
sticking to them rather than being lost and forgotten by the competitive new products and
competitors.
Customized product and support service is an important factor in retaining customer well. Bank
delivers those products that are coherent with the consumer needs and also provide those services
that are considered as an important element for the restoration of service & bank execute several
programs that highly support to their valuable customer.

CHAPTER 2
LITERATURE REVIEW
2.1 Introduction to customer Relationship Management
What is customer relationship?
It is defined as a customer centered approach where by a firm seeks long term business
relationships with prospective and existing customers. It is believed to be associated with
positive outcomes like;
Greater profitability
Increased customer loyalty
Opportunities for strategic advantage

11

 Reduced costs of recruiting customers because it is very much cheaper to achieve repeat
business compared with achieving new business. By improving your relationship with
customers, CRM will help you achieve many more repeat sales.
It allows the focus on correct set of customers. The scatter-gun marketing approach is
costly and inefficient. Targeted marketing is cheaper and can achieve far greater results.
CRM helps gather and interrogate information in a way that has only been available to
large organizations until now.
By managing customer relationships and looking after customers, company will achieve a
marked improvement in reputation. This in turn can lead to referrals and new business.
CRM saves time for the organization. Having all required information to hand at any time
keeps the firm informed and organized. Contacting customers either individually or as a
group becomes very quick and easy. Retrieve important information when away from the
office, even when it is closed. Find out what you want to know quickly and efficiently.
More effective firm planning
Why Relationships Are Important
Relationships are essential to nearly all businesses. Strong ones make us more successful, and
make our jobs easier. Here are a few of the most compelling reasons to build relationships:
people wont tell you the truth unless they know they can trust you and until you know
the truth, you cant solve their problems
Having strong relationships gives organizations the opportunity to be less than perfect.
Everyone makes mistakes; relationships let an organization recover. In competitive
markets, opportunities for differentiation thus can , and will, be copied by its competitors(
and if its smart, it will copy the things they do well)
Overtime, many competitors begin to look and sound the same. And the buyers of the firms
services begin to see its entire industry as a commodity. Traditional sales messages become lost
in the clutter. Attempts to add value fail to differentiate- they just increase costs.
Relationship management works because it gets back to basics. It focuses on people, and
delivering results that matter. It works because it treats customers like human beings- not
12

markets to be conquered. Relationship management is emotional- building feelings of trust,

goodwill and respect. 70% of purchase decisions are made emotionally. In an undifferentiated
world, the simple, personal approach that is relationship management is extremely powerful, and
extremely effective. Relationship management can improve the effectiveness of a firms sale and
servicing activities. It allows a firm to stay in contact with every client, every prospect, and every
source of influence on a regular basis- without tying up its sales team. Relationship management;
garbs attention and creates awareness
gently tells the organizations story the way it wants to tell
patiently educates and adds value
keeps a firm top-of-mind until prospects are ready to buy
opens the door for meaningful dialogue with clients and prospects
Relationship management makes it easier to increase sales.
Customer relationship Management
CRM is the overall process of Marketing, Sales, and Service & Support within any organization.
Particularly considering the banking sector and the point of view it can be seen that for better
customer relationship basic three areas of operations are focused CRM Process
And they build the customer retention and acquisition basis, they are stated as
Marketing Automation
Sales Force Automation
customer Service & Support
And the above mentioned points can be supported by
Targeting the Best customers
Managing Marketing Campaigns
Generating Quality Leads
By sales force automation it is meant that give sales reps instant access to the latest prospects in
the market and ensuring that no leads are dropped.

As ones sales force is the direct

13

representatives of the company who leave a direct impact on the customers. These basic
activities have to be directed towards more and more service to the customers.
The basic thought behind CRM is quite simple. The most profitable customer is one who is loyal
and buys in large quantities and needs more or little time in marketing efforts. If we are provided
with sufficient number of customers such that we dont have to make efforts for sales and
marketing the situation can be much more ideal. The process of transforming the customers to
build long-term relationships is known as CRM. There are several definitions of CRM. The
following definition gives us a dimension about customer relationship management, which is that
CRM is an enterprise business strategy that enables companies to select and manage
customers to maximize their long-term value to the organization. This requires a customercentric business philosophy to support effective marketing, sales and processes across
direct and indirect customer interaction channels.
Customer relationship is about having an indirect conversation with the customer through
analyzing their behavior over time. Relationship treats marketing as a process over time rather
than single unconnected events.
The relationship process usually defined as a series of stages, and there are many different names
given to these stages, depending on the marketing perspective and the type of business. For
example, working from the relationship beginning to the end:
Interaction > Communication > Valuation > Termination
Awareness > Comparison > Transaction > Reinforcement > Advocacy
Suspect > Prospect > customer > Partner > Advocate > Former customer
Fig 2.1 customer relationship process

14

Using the relationship approach, we customize programs for individual consumer groups and the
stage of process they are going through as opposed to some forms of database marketing where
everybody would get virtually the same promotions, with perhaps a change in offer. The stage in
the customer life cycle determines the marketing approach used with the customer. If a customer
visits site every day and then just stops. Something has happened. They are unhappy with the
content, or they have found an alternative source. Or perhaps they are just plain not interested in
the subject anymore. One should react to this and then look for feedback from the customer. If
we improve the content notifies and if the customer starts visiting again, the feedback has been
given. The cycle is complete until the next time the data indicates a change in behavior, and one
needs to react to the change with communication. So if the same customer then makes a first
purchase. This is an enormously important piece of data, because it indicates a very significant
change in behavior. This is a new relationship now, a deeper one. One should react and look for
feedback.

CRM in an Industrial perspective

CRM is an information industry term for methodologies, software, and usually Internet
capabilities that help an enterprise manage customer relationships in an organized way. But the
case in respect to which we are analyzing the CRM process encompasses the industrial
perspective as well as the general business point of view.
For example, an enterprise might build a database about its

customers that described

relationships in sufficient details so that management, sales people, people providing service, and
perhaps the customer directly could access information, match customer needs with product
plans and offerings, remind customers of service requirements, know what other products a
customer had purchased, and so forth.
According to one industry view, CRM consists of:
Helping an enterprise to enable its marketing departments to identify and target their best
customers, manage marketing campaigns with clear goals and objectives, and generate
quality leads for the sales team.

15

 Assisting the organization to improve telesales, account, and sales management by

optimizing information shared by multiple employees, and streamlining existing
processes Allowing the formation of individualized relationships with customers, with
the aim of improving customer satisfaction and maximizing profits; identifying the most
profitable

customers and providing them the highest level of service. Providing

employees with the information and processes necessary to know their customers,
understand their needs, and effectively build relationships between the company, its
customer base, and distribution partners.

Review of CRM in banking sector

"CRM is the business strategy that aims to understand, anticipate, manages and
personalizes the needs of an organization's current and potential customers"
CRM is not mere a piece of software but could be regarded as a business strategy which puts the
customer at the centre and make them as heart of the business. It is simple to say that local shop
owner remember his all customers and their details, where now exist the technology to enable
this to hold the information of the customer in much larger scale with customer centric approach.
CRM successful implementation will allow customer Service, Sales and Marketing in order to
have a clear view of each and every customer. Theoretically, this will enable them to make quick,
informed decisions, create cross selling and up selling opportunities in order to measure
marketing effectiveness and to deliver personalized customer Care.
Successful CRM always starts with a business strategy, which drives changes in the organization
and work processes, enabled by technology. The reverse hardly ever works. Here the key is to
create a truly customer-centric philosophy that touches every point and basically every person in
the company. Everyone from customer service executive to CEO must live and breathe customer
focus for all of this to work while looking processes which could be re-engineered in order to
make them more effective for customers. (Millar 2004)
The Future:

16

CRM has already made a big impact in the field of customer Service and will continue to do so
as more and more companies become customer-centric those that fail to do so will loose
competitive advantage. As technology increases to develop at an astonishing rate the key
emphasis will be how we can fully utilize it within our business.
However let's not loose sight of the fact that CRM is primarily about people and then technology
and thats where the real value of CRM lies, harnessing the potential of people in order to create
a greater customer experience by using the technology of CRM as the enabler.
CRM may or may not prove to be the answer to provide excellent customer care, but the
philosophy of putting customers at the heart of our business is certainly a step in the right
direction.
It is estimated that the global market for CRM services and solutions is currently worth
$148 billion, which means a lot of choice while selecting your technology - from webbased solutions aimed at small businesses with less than 10 employees to solutions
suitable for multi-national enterprises with millions of customers.

CHAPTER 3
RESEARCH METHODOLOGY
3.1 Research Design
The research will be designed in such a manner that it will fulfill the entire requirements and so
will cover all the relevant information with respect to the topic. While designing the research it
was kept in consideration that it should serve all the relevant people properly and should be in
line with the purpose of study as well as all the barriers also considered. It is also an aim that this
research will be done to add or contribute in the existing knowledge about the topic.
3.1.1 Research Methodologies
The Applied Marketing Research will be applied for research method and the purpose of study
will descriptive as well as inferential in nature as it will be an aim to collect more appropriate
information related to topic. While historic information will also be taken into consideration. The
17

deductive approach is applied in non-contrived study i.e. the topic is analyzed in a natural
environment without any involvement. The research instrument that will be used to collect
information from the subjects is Research Questionnaire and a sampling plan will be designed
to identify and gather information from the sample subjects.
3.1.2 Unit of Analysis
As the research will be based on customer relationship management, the unit of analysis would
be the entire banking industry in Pakistan.

3.2 Source of information.

Major part of information will be gathered through structured questionnaire and the left of the
Information will be gathered through Customer Relationship Management books, websites and
interviews with employees.

3.2.1 Sampling design.

The sampling design for this study will be Random sampling because a wide range of all bank
employees located in Balochistan region and a huge population is to be covered by the study
therefore, it is important and useful for the researcher to opt for a sampling design that provides
greater generalizability and that each element in the population has an equal chance of being
selected as sample subject. The other type of sample design will be "Quota sampling (30%)
for upper management employees, (50%) for middle management employees & (20%) for lower
management employees" because various parties are engaged in making relationship with enduser and focusing the three key variables (Marketing, Sales Force, customer Service & Support)
thats overall leads to foster and build the customer relationship management process.
3.2.2 Scaling.
A number of scales are used in designing of the research questionnaire in order to gather the
information from the subjects in the best possible manner. These scales include

18

Likert scale: It is designed to examine how strongly subjects agree or

disagree with

statements on a 5-point scale.

Dichotomous scale: I t is used to elicit a Yes or No response.

Numerical scale: This scale utilizes a 5-point scale, with bipolar adjectives at both ends
to determine the degree of inclination towards a particular pole.

Open ended questions: A number of open ended questions are also used to allow
subjects to speak their mind, rather than giving an objective response.

3.3 TOOLS OF STUDY

The tools which will be used in this research are Questionnaire and Unstructured Interviews.

3.4 Pre-Testing of the instrument.

Before the data collected from questionnaire, interviews were conducted from the Regional
Manager of Zong, Mr. Shakeel Tareen and floor manager of standard charter bank, Burhan
siddiqui. The purpose was to gather some basic data about the different product & services which
support to conduct the research. Expert opinion is gathered for the improvement of
Questionnaire. Manager and manager operation checked the questionnaire for their opinion to
get better results by improving questionnaire through their suggestions.

3.5 Target Population.

The target population for this research will be employees of banks in Quetta city only, keeping in
view the product/services that they offer to satisfying consumer needs in-order to maintain long
lasting relationship with end-user, However, the population size is unknown as these
organization have several employees in Baluchistan province so therefore, it is difficult to
determine the accurate population size.

3.6 Sample size.

The sample size being taken is 100 subjects as taking a larger sample may also affect the
reliability of data as there will be greater fatigue and more chances of errors.

19

3.7 Sampling technique.

The method for this research will be based on Random sampling at the first stage. The second
stage is conducting the interview. At this stage stratified random sampling technique will be
used.

3.8 Description of analysis technique.

Percentage method will be used as an analysis technique. Data will be presented in tabulated and
graphic forms. The responses will be analyzed with the help of MS Excel software.

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