Planning Customer Relationship Management (CRM) Strategies in the Mining and Industry Bank

Abstract

Today, technology has led the organizations to offer their products and services with higher quality and reduced price to their elite customers. For this reason, with the sole use of the advanced technology or cheaper price in comparison to the competitors the competitive advantage cannot be achieved. In this case, a customer is the only reliable competitive advantage for the organizations. The customer relationship management is a business strategy that adopts the absorption, maintenance and the promotions of a customer. With the correct implementation of the customer relationship management (CRM) the organization will be able to conduct the three aforesaid duties with a lower cost and thus preserve its main competitive advantage which is the said customer. In this regard, the planning and compilation of the strategies related to the customer orientation and the implementation and its executions in the organizations that maintain growth, development and a favourable function is the most important principles of success and leads the organizations towards their goals. Accordingly, to achieve the research objectives including identification of the opportunities and threats of the mining and industry bank production in the customer oriented section, the strength and weakness points inside the bank, the determination of the appropriate strategies for the customer oriented bank section, the comprehensive framework of the strategies planning based on the strategic planning of Fred R. David has been used. In the prime stage, the vision and the mission statement of the customer oriented bank (database) has been determined and in the matrix input stage, the external factors evaluation (EFE), and the internal factors evaluation matrix have been prepared. Considering the obtained information in the previous stage, in the comparison and adaptation stage, the SWOT matrix, the internal and external matrix (IE), and the situation assessment matrix and strategic preparation (SPACE) was designed. In the decision making stage, the strategies selection with higher priority was used rather than the quantitative QSPM, the intuitive method – acceptance application, for its feasibility, congruence with goals and utilization of real views of the bank consultants availing more practical and applicable strategies that the most suitable strategy was ``conducting effective and efficient advertising in order to increase the public awareness of the bank activities``.

DOI: 10.5901/mjss.2016.v7n3s3p298