http://marketpublishers.com/
London, UK (PRWEB) December 10, 2013
After the financial crisis, banks worldwide started to understand the importance of building long-term and profitable relationships with their clients in order to enhance profitability. As pricing is influenced greatly by changing consumer preferences and expectations, and cost pressures, banks are grabbing the opportunity to build a strong relationship with customers by offering them various customer-centric business models based on relationship pricing. Retail banks tend to apply different pricing models, designed to target a diverse pool of customers and meet their individual banking requirements and readiness to pay. Retail banks also provide time-based pricing (different prices for existing and new clients) and behavior-based pricing (based on the customer’s purchasing behavior). The adoption of analytical tools and advanced technologies allows banks to get a clear understanding of consumers’ buying behavior, enables them to offer personalized services as well as to target the most profitable customers.
Loyalty programmes have recently emerged as one of the major tools used by retail banks when targeting consumers. They are thought to drive customer retention and acquisition. With ongoing technological progress in the banking industry, banks have shifted their primary focus from loyalty programmes targeting high value individuals towards discounts and benefits on single products.
Insightful research report “2020 Foresight: Relationship Pricing” worked out by Timetric has been recently published by Market Publishers Ltd.
Report Details:
Title: 2020 Foresight: Relationship Pricing
Published: October, 2013
Pages: 47
Price: US$ 3,800.00
http://marketpublishers.com/report/finance_services/banking/2020-foresight-relationship-pricing.html
The report provides an insightful analysis of the various relationship pricing strategies adopted by retail banks globally; uncovers historical and present industry estimates; provides a snapshot of the relationship pricing trends in both developed and developing economies; and also outlines the major operational opportunities available for retail banks. Furthermore, the research characterizes the regulative framework, traces the recent technological advancements, reviews various loyalty programmes as an approach to relationship-based pricing models, and grants access to detailed case studies on relationship pricing implemented by market participants. The report is enriched with an extensive market forecast along with a discussion of the market’s growth prospects.
Reasons to Buy:
- The report extends the knowledge of the relationship pricing area of the retail banking market and helps to understand the concept of relationship pricing and its adoption across the key geographical markets.
- Comprehensive guide to the relationship pricing sector enhances the understanding of the success within the market and the challenges it faces.
- The study equips with a clear understanding of the market opportunities and entry strategies as well as allows a reader to assess the main trends in technologies, operations and regulations.
- Snapshot of the major strategies adopted by retail banks assists in evaluating the competitive pressure and gaining competitive edge in the market.
- The report provides insights into the the business models adopted by retail banks, thus, assisting in understanding of the relationship pricing market landscape.
- Detailed future outlook shows how the sector is set to develop through 2020.
More insightful research reports by the publisher can be found at Timetric page.
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