Marketing Management Coursework Example | Topics and Well Written Essays - 500 words

Marketing Management - Coursework Example Just like any other industry, banks also have various methods of developing relationships with their customers and personal clients. In banks, customer loyalty remains the cornerstone of the current market conditions. Losing a customer in the banking industry is an absolute mistake especially when fighting with competitors in the market. Some of the common methods in which banks use to develop their ongoing customer relationships include building communication with their personal customers, enhancing customer services, extensive research on their clients and identifying of their customer needs and wants (Kotler & Keller, 2011, p. 173). Additionally, banks also develop their customer relationships by providing full disclosure while interacting with their personal customers. In order to develop relationships with their personal clients, most banks maintain effective financial-driven communication with their clients. Multiple communication systems between the clients and the banks help in creating openness between the customer and the banks. Barclays bank is known for its effective communication with its clients and personal customers. Generally, the bank has established good communication and rapport with its customers hence guaranteeing eagerness of customers doing business with the company. Proper identification of customer needs and wants in banks is usually accomplished by maintaining customer interaction and communication. Additionally, using background research remains important in establishing customer needs and wants. Both approaches help banks in developing relationships with its customers (Kotler & Keller, 2011, p. 67-73). This aspect mostly means focusing on provision of complete answers to customer concerns and queries. The whole process involves honesty during communications and setting reasonable expectations for personal clients. The whole process helps in building