scholarly journals Behavioural evolution of consumers of banking services in the COVID-19 pandemic situation

2021 ◽  
Vol 8 (1) ◽  
pp. 84-100
Author(s):  
Larisa Mistrean
Keyword(s):  
Consumer Behaviour ◽  
Customer Relations ◽  
Human Behaviour ◽  
Customer Relationship ◽  
Social Changes ◽  
Banking Services ◽  
Financial Products ◽  
Economic Climate ◽  
The Impact ◽  
Potential Customers

Managing customer relations is one of the main contemporary challenges facing banks, especially in terms of new social changes and major changes in human behaviour, generated by the COVID-19 crisis. The currently drifting economic climate affects all of the existing and potential customers and consumer behaviour, being much more demanding on the products and services purchased, their particularities, the conditions proposed by banks, prices and the bank-customer relationship. The new segmentation generated by the pandemic puts additional pressure on banks, which have a difficult task: to better understand these new behaviours and to meet consumer requirements with relevant products and convenient services. Whatever the options, banks must be receptive to the current needs of consumers of financial products and services and to the behaviour they must adopt in order to remain relevant on the market. The general objective of this study is to provide a practical perspective on the impact of the pandemic crisis on consumer behaviour of banking products and services.

scholarly journals Relationship between CRM Strategy and Hotels’ Performance with Reference to Madurai

2020 ◽  
Vol 8 (4S4) ◽  
pp. 41-44
Keyword(s):  
Organizational Performance ◽  
Customer Relationship Management ◽  
Hotel Industry ◽  
Relationship Management ◽  
Customer Relationship ◽  
Survey Area ◽  
To Come ◽  
The Impact ◽  
Potential Customers

Customer Relationship Management is an ideology to manage company’s interaction with existing and future customers. Today it is an inevitable for any business because of heavy competition and globalization. Every organization thrives to withstand in the competition for that they have to retain their customers as well as develop their products. Especially for the hotel industry it has to come up with distinctive ideas to show their uniqueness in the industry as well as with their current and potential customers. However there will be a limited study in the survey area about CRM. This observation strive to manifest how the impact of Customer Relationship Strategy with organizational performance

scholarly journals TOWARDS AN ABM-BASED FRAMEWORK FOR INVESTIGATING CONSUMER BEHAVIOUR IN THE INSURANCE INDUSTRY

Ekonomika ◽  
2010 ◽  
Vol 89 (2) ◽  
pp. 95-110
Author(s):  
Aurelija Ulbinaitė ◽  
Yannick Le Moullec
Keyword(s):  
Consumer Behaviour ◽  
Insurance Industry ◽  
External Factors ◽  
Agent Based ◽  
Income Levels ◽  
Agent Based Modelling ◽  
Financial Products ◽  
Insurance Product ◽  
The Impact ◽  
Demographic Features

This paper presents a framework that builds upon agent-based modelling for investigating the behaviour of consumers in the insurance industry. Consumers are modelled as agents and clustered in groups reflecting their income levels. Agents that model consumers are characterised by their socio-demographic features and interact with other insurance consumer-agents by means of local and global social networks. Furthermore, the environment in which they evolve models the impact of external factors such as mortality, disease and other accident rates as well as insurance culture. This makes that consumer-agents accumulate experience, improve their understanding and knowledge of financial products, and thus develop their perception of need for security and consider the usefulness of insurance services. In turn, the framework enables to model the construction of the customers’ insurance product purchase decision.p>

The Impact of Customer Relationship Management and its Significant Relationship to Customers’ Satisfaction in Cooperative Banking (A Case Study of Kangra Central Co-operative Bank)

2017 ◽  
Vol 9 (2) ◽  
pp. 59 ◽  
Author(s):  
Manvinder Singh Tandon ◽  
Narender Nath Sharma ◽  
Vipan Kumar Bhulal
Keyword(s):  
Customer Service ◽  
Customer Relationship Management ◽  
Traditional Method ◽  
Customer Relations ◽  
Relationship Management ◽  
Business Environment ◽  
Customer Relationship ◽  
Business Organization ◽  
The Impact

Customer relationship management is the durable and the most effective approach in maintaining and creating relationship with customers. Once this personal and emotional relationship is built, it is very easy for any organization to identify the actual needs of customer and help them to serve them in a better way. Business organization would not flourish until and unless their customers are happy; this is the reason, why Customer Relationship Management (CRM) is so important? In the present competitive business environment attracting and retaining customers is a challenging task for business organization. To grow, businesses do any only need to attract new customers but also to hold on to existing customers. CRM facilitates organization not only to gain customers but also to retain them. It focuses on improving sales and productivity by effectively catering to customer demands, queries and complaints. Though the traditional method of maintaining good customer relations is still being used yet the importance of CRM cannot be neglected. The more effectively a business can use information about its customer to meet their needs the more profitable it would be for the organization. Companies can provide excellent customer service if they are aware about their customers’ needs and react to those needs effectively. CRM helps you to understand, anticipate and respond to your customers’ needs and react in a consistent way. The paper analyses how organization use CRM as a technique to gain business distinction.

scholarly journals A Study of the Impact of the e-CRM Perspective on Customer Satisfaction and Customer Loyalty-Exemplified by Bank Sinopac

2012 ◽  
Vol 4 (8) ◽  
pp. 467-476
Author(s):  
Chun-Chu Liu ◽  
Li-min Chuang . ◽  
Chien-Min Huang .
Keyword(s):  
Customer Satisfaction ◽  
Financial Institutions ◽  
Customer Relationship Management ◽  
Customer Loyalty ◽  
Banking Sector ◽  
Customer Relationship ◽  
Banking Services ◽  
Domestic Banks ◽  
The Impact ◽  
The Relationship

As the Taiwanese government gradually opens up the country’s banking sector in recent years, the number of financial institutions of Taiwan has increased rapidly. Until the end of January 2010, the number of the domestic banks is up to 37, the average number of the customers served in each branch is less than 4,000. As all banks wish to be more competitive in such an environment, new advertising and marketing skills are taken. New banking services and technology are also provided in order to attract more customers. The study aims to discuss the relationship among three aspects including the Electronic Customer Relationship Management, Customer Satisfaction, Customer Loyalty, and we choose Bank Sinopac users as subject. In addition, the following results are concluded by statistics and analysis: 1. Using e-CRM had obvious on the customer satisfaction and customer loyalty. 2. Customer satisfaction had obvious on the customer loyalty.

scholarly journals Impact of digitalization on consumer behaviour and marketing activity in financial markets

2020 ◽  
Vol 73 ◽  
pp. 01013
Author(s):  
Yury Korobov
Keyword(s):  
Financial Markets ◽  
Financial Services ◽  
Consumer Behaviour ◽  
Quality Characteristics ◽  
Marketing Activity ◽  
Financial Products ◽  
Marketing Activities ◽  
The Impact

The article reveals the impact of digitalization of the economy on the behaviour of consumers of financial services: increasing the relevance of financial needs, increasing the consumer independence, changing the model of consumer behaviour. The directions for improving the marketing activities of banks were identified: a shift in focus from image advertising to product advertising, and increased attention on quality characteristics of financial products.

Designing a CRM Framework for online & offline sports footwear retailers

2015 ◽  
Vol 3 (1) ◽  
Author(s):  
Rodrigo Cueva ◽  
Guillem Rufian ◽  
Maria Gabriela Valdes
Keyword(s):  
Environmental Changes ◽  
Customer Relationship ◽  
Business Strategies ◽  
Economic Sectors ◽  
Running Shoes ◽  
Brick And Mortar ◽  
Key Factor ◽  
On Line ◽  
The Impact

The use of Customer Relationship Managers to foster customers loyalty has become one of the most common business strategies in the past years.  However, CRM solutions do not fill the abundance of happily ever-after relationships that business needs, and each client’s perception is different in the buying process.  Therefore, the experience must be precise, in order to extend the loyalty period of a customer as much as possible. One of the economic sectors in which CRM’s have improved this experience is retailing, where the personalized attention to the customer is a key factor.  However, brick and mortar experiences are not enough to be aware in how environmental changes could affect the industry trends in the long term.  A base unified theoretical framework must be taken into consideration, in order to develop an adaptable model for constructing or implementing CRMs into companies. Thanks to this approximation, the information is complemented, and the outcome will increment the quality in any Marketing/Sales initiative. The goal of this article is to explore the different factors grouped by three main domains within the impact of service quality, from a consumer’s perspective, in both on-line and off-line retailing sector.  Secondly, we plan to go a step further and extract base guidelines about previous analysis for designing CRM’s solutions focused on the loyalty of the customers for a specific retailing sector and its product: Sports Running Shoes.

Moral Responsibility, Socially Embedded

2018 ◽  
Author(s):  
Lisa Herzog
Keyword(s):  
Social Psychology ◽  
Moral Responsibility ◽  
Moral Agency ◽  
Human Behaviour ◽  
Shared Responsibility ◽  
The Face ◽  
Moral Theorizing ◽  
The Impact

This chapter asks whether we can hold on to the picture of the morally responsible subject as we knew it in the face of evidence from social psychology about the impact of contexts on human behaviour. Some theorists have taken this to present a major challenge to moral theorizing. However, the chapter argues that, while we should acknowledge the malleability of human behaviour, we should not give up the notion of responsible agency. Rather, we need to broaden our theoretical horizon in order to include individuals’ co-responsibility for the contexts in which they act. This argument is a general one, but it is of particular relevance for organizations: it is our shared responsibility to turn them into contexts in which moral agency is supported rather than undermined.

Big Data and Sustainable Consumption: A Review and Research Agenda

2021 ◽  
pp. 097226292110225
Author(s):  
Shobhana Chandra ◽  
Sanjeev Verma
Keyword(s):  
Big Data ◽  
Consumer Behaviour ◽  
Business Models ◽  
Sustainable Consumption ◽  
Big Data Analytics ◽  
Consumption Behaviour ◽  
Consumer Experiences ◽  
Systematic Understanding ◽  
The Impact

Big data (BD) is making advances in promoting sustainable consumption behaviour and has attracted the attention of researchers worldwide. Despite the increased focus, the findings of studies on this topic are fragmented, and future researchers need a systematic understanding of the existing literature for identification of the research scope. This study offers a systematic review of the role of BD in promoting sustainable-consumption behaviour with the help of a bibliometric analysis, followed by a thematic analysis. The findings suggest that businesses deploy BD to create sustainable consumer experiences, predict consumer buying patterns, design and alter business models and create nudges for sustainable consumption, while consumers are forcing businesses to develop green operations and supply chains to reduce the latter’s carbon footprint. The major research gaps for future researchers are in the following areas: the impact of big data analytics (BDA) on consumerism, the role of BD in the formation of sustainable habits and consumer knowledge creation for sustainable consumption and prediction of green consumer behaviour.

scholarly journals Factors Influencing Attitudes Towards the Use of CRM’s Analytical Tools in Organizations

Organizacija ◽  
2016 ◽  
Vol 49 (1) ◽  
pp. 28-41 ◽  
Author(s):  
Urban Šebjan ◽  
Samo Bobek ◽  
Polona Tominc
Keyword(s):  
Positive Impact ◽  
Organizational Factors ◽  
Process Innovation ◽  
Customer Relationship ◽  
Process Technology ◽  
Business Partners ◽  
Innovation And Technology ◽  
New Ideas ◽  
Analytical Tools ◽  
The Impact

Abstract Background and Purpose: Information solutions for analytical customer relationship management CRM (aCRM IS) that include the use of analytical tools are becoming increasingly important, due organizations’ need for knowledge of their customers and the ability to manage big data. The objective of the research is, therefore, to determine how the organizations’ orientations (process, innovation, and technology) as critical organizational factors affect the attitude towards the use of the analytical tools of aCRM IS. Design/Methodology/Approach: To measure the orientation of the organization (process, innovation, and technology), we redesigned the existing scale, which was validated using exploratory factor analysis. In the next phase, we created a model by which we examined the impact of the organization’s stance in relation to the use of the analytical tools of aCRM IS, where we used multiple regression analysis. The model was verified on a sample of Slovenian Organizations (n=105), which use the analytical tools of aCRM IS for analyzing the data they have on their customers and business partners. Results: In the study we found that all critical factors of the organization, specifically process, technology, and innovation orientation, have a positive impact on the attitudes towards using the analytical tools of aCRM IS. Innovation orientation is particularly important and has the strongest influence on the attitude towards using the analytical tools of aCRM IS. We found that innovation orientation on new ideas, methods, and approaches has the strongest effect, followed by the impact of innovation orientation on acceptance of novelty. Conclusion: The more innovation-, technology-, and process-oriented organizations are, the more positive their attitude towards using the analytical tools of aCRM IS. The study is particularly important for organizations that are introducing an aCRM IS into their business system.

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