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Rbc Case Study

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CRM-Case Analysis
Customer profitability and customer relationship management at RBC financial group

Submitted by Team Pandavas (Team 3)

Bhawna Gupta (P131011)
Deepak C (P131015)
Esha Pandey (P131016)
Magdalene (P131021)
Shashank (P131032)

Overview:
The RBC is the largest Canadian financial institution with 12 million clients worldwide having 60000 employees and 700 products. It owns 270 billion dollars of assets .Earlier, there was healthy competition between the major players .As a result of globalization, foreign players started giving competition, therefore different banks started to differentiate themselves with their competitors by devising their strategies in line with their expertise. Following this the conventional system of brick and motor banking got challenged with the advent of internet banking, increasing the customer convenience. The 4 pillars of RBC (banking, trust, securities & insurance) had to be modified to correlate and find a unique value proposition to the customer .All banks realized that they needed an IT solution to strategize their future outlook.
What were the glitches of RCB?
RBC’s value perception in the minds of the Canadian public was not robust .The bank was not able to differentiate itself from its competitors by offering a unique value proposition and continuously pivot by aligning its strategies to the changing market conditions. Competitors offered specialized products at lower interest rates and white labeling that attracted the customers. RBC were unable to apply their existing technology for customer acquisition and were unable to achieve customer intimacy with their concrete solutions of ATM access, Generic Mail etc.
Analysis:
1980s saw the deregulation in the financial industry and there were threat of new entrants which was faced by RBC and market share was considered to be a very important measure

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