Research proposal Example | Topics and Well Written Essays - 1500 words

Research Proposal Example Increased sales is one of the potential benefits of customer relationship managent and results from identification and utilization of customers’ needs. Market expansion and higher profit margins are other benefits that organizations may reap from implementing customer relationship management. In addition, developing an understanding of customers’ needs ensures utility among the customers, a factor that also ensures customer retention and even marketing through customers’ testimonies. Customer relationship management also has an ultimate effect of decreasing an organization’s sales and other marketing expenses (Chaturvedi 2009, p. 5). Different approaches and techniques, however, exist that determine banks’ application of customer relationship management and may be a factor to the current trend in application of the management approach in the financing sector and establish a difference in application of customer relationship management by different t ypes of players in the sector (Rai and Singh 2012, n.p.). The study focuses on the current trend among banks and micro-finance institutions in the United Kingdom. Customer relationship management offers numerous advantages towards competitive advantage, should an organization implement it. This study seeks to investigate the use of the management towards these benefits with the aim of identifying possible inefficient application and creating awareness among the target organizations towars higher competitiveness and customer utility. Identifying trend in application of the managent and comparing this with trends in applicable technologies for customer relationship management will help inform the target population of necessary changes in the applications. In addition, understanding applications of customer relationship management, as applied by banks and other micro-finance organizations, will help in integrating techniques in the management branch, and