CRM practices in corporate banking
Customer relationship management practices in banking sector with particular attention to Key Account Management(KAM)
This write up seeks to explore the subject customer relationship management paying particular attention to practices and how they can be applied in the financial service sector to attract and retain valuable clients (corporate).
Special attention has been made to Key Account Management practices as a strategy to lock valuable customers.
Related literature has been reviewed chief among the authorities are the works of gummesson, payne as well as gittomer who are the proponents of CRM.A descriptive research design has been adopted and results point to positive effect of customer relationship management and customer retention and ultimately leads to better bank performance.The write up show the importance of different types of CRM practices in locking customers and increasing switching costs for defecting customers.
Mbizi Rangarirai is a holder of Mcom Finance (GZU-2012), MBA (MSU-2010) and Bcom Economics (MSU-2006) all in Zimbabwe and is Currently a lecturer in Entrepreneurship at Chinhoyi University of Technology in Zimbabwe.