The paper “ Moon Trust Bank’ s Customer Loyalty and Relationship Marketing" is an engrossing example of a case study on marketing. Customer satisfaction and relationship marketing are important aspects of business today, particularly in attempts by organizations to implement and maintain the ever-diversifying customer- firm relationships. This is an interesting field as an appropriate relationship is based on better communication and understanding between the two parties. This study assesses in myriad relation of customer satisfaction and loyalty all based on value. Theoretical underpinnings are presented in the first part of the study. This is all based on previous debates, researches, and proposals in history.
The hypothesis for the research is also identified in this section. The second section comprises the empirical methods used in the data model and presents the results of the reports collected and analysis as implicated. The third section of the research evaluates the possibility of strategy application in real-life situations apart from theories. By observing two companies the results are compared to compare the yield of the strategies in companies where they are already in use. Implications of the strategies on the management of the organization are also pointed out in this section.
Recommendations based on research outcomes are presented in section four. For closure, conclusions are made in the fifth and final section of the essay. Background InformationThe Company Moon Trust Bank is a recently founded financial institution; it is located in Melbourne. The company serves an approximated population of 500 people. The inspiration behind this project was to provide the average and low-income earners with affordable banking rates without having to stretch their capacity too hard.
The institution was formed as a result of a merge in ideas by three friends; Laura, Bennet, and Peter. Their aim was reached as a resolution to address the challenges facing low-income earners. AimsThe company aims to provide a fair banking system through a couple of strategies. The management intends to focus on customers’ interests to ensure the growth of the company. Through the implementation of correlating management functions, the organization hopes to attract new customers and at the same time retain loyal customers. The company proposes measures to determine levels of customer loyalty in existence and means to retain them as clients. ScopeConsiderations by the company to enlarge its scope of operations are in progress.
The company covers a small geographical region and plans to use a consumer-centric approach to develop a bigger market. This strategy proposes a relationship between consumer satisfaction and marketing relationships based on product value. The strategy entails direct customer based relations that will enhance satisfaction by the final product. The research covers the client-customer relation and its effects on enhancing the profitability of the company.