Customer Relationship Management (CRM) in financial services has become utmost important because of the present challenging marketing environment. Presently, the company differentiate themselves by delivering exquisite customer experience and offer product, which are unique, tailor-made for delivering customer satisfaction. By delivering highly innovative financial products for core banking, insurance and wealth management, the company would be able to develop meaningful relationship with its customers. Often termed as relationship marketing in China, it is also focuses on customer retention. CRM also helps in laying emphasis on the product features, which highlights the product benefits that are meaningful and necessary for the customers. The Chinese investment banking companies rely on the strength of the financial services that help the banks to make tailor-made financial products for customized customer requirements. Although, CRM is relatively a new concept, it entails the different marketing approaches involved in obtaining the refined customer information search, which helps the management to attract potential customers (Besson, 2000). The CRM activities in the financial institutions involve the incorporation of electronic business activities, relationship and customer management activities, and integration of customer centric strategy with the back office or front office executives (Carson, 2005). The main crux of CRM activities involves building of long term and healthy relationships to retain customers in the competitive financial environment. ...Show more
The research "Management of Personal financial services" examines the following questions: Wealth Management, Customer Relationship Management in Personal Financial Services, Customer Relationship Management in Chinese Financial Institutions, Customer Behaviour in Personal Financial Service, Risk Management & Human Resource Selection in Banks, Hiring and Selection in Financial Institutions.
TABLE OF CONTENTS
CHAPTER I - ABSTRACT 3
CHAPTER II - INTRODUCTION 4
Aims & Objectives 5
Research Questions 5
CHAPTER III - LITERATURE REVIEW 7
Mode of Entry 7
Ownership & Control 12
Conclusion of the Literature Review in Entry Strategy 15
IKEA in China 16
Even though the economic situation is under control in UK, the people blame financial institutions for the destruction of society. Regardless of the current situation, the financial service sector in UK has a promising future due to which most of the organizations are trying to establish their base at UK with an aim to accomplish their goals and objectives.
The bank commenced its financial services in 1912. It is fully owned by the government of China and is the oldest one. Before 1928, it was considered as the central bank of China that controlled the monetary policy of the economy and had the right to print notes and create money.
especially that which could be converted to cash. (Ishaq, 2004) Examples are cash, securities, accounts receivable, inventory, office equipment, real estate, a car, and other property. On a balance sheet, assets are equal to the sum of liabilities, common stock, preferred stock, and retained earnings.
By combining a variety of investments options such as stocks, bonds and real estate assets an investor can achieve diversification and thus avoid "putting all his eggs in one basket". However, it should be remembered that it is not possible to have zero risk and 100% rewards, yet with the correct combinations of diversification it is possible to achieve an optimal balance or risk and reward depending on the investment goals, growth strategies and available time horizons (Witt and Dobbins 1979).
The study concludes that the ChinaTrust bank website appears the best from the customer service point of view, while the ICDC bank website is useful for customers seeking lots of guidance and directions. The HSBC bank site mostly targets English speaking customers.
The strategy has been carefully formulated in proper alignment with the objectives and the vision of the company. The key role of the proposed plan is to utilize and integrate the raw information from different spheres of the organization to aid organizational
This paper aims to look at the issue that has been pointed out by the statement and presents arguments in line with it. This paper argues that while government punishes those who save, the incentives come to those who invest