Customer Relationship Strategy of the Banking Industry of Bangladesh: A Case Study on Brac Bank PLC

Abstract

This report is based on my experience in the Banking Industry of Bangladesh. This research helped me understand the challenges in Customer Relationship Strategy and how to effectively manage relationships with customers in the banking industry of Bangladesh. The findings and analysis encompass both primary and secondary data. Primary data were collected through face to-face conversations with Banking service officials, service correspondents, and relevant service sources. Secondary data were gathered from various organization publications, including newsletters, service guidelines, reports, handbooks, websites, and yearly reports. The report also provides an overview of the mission, vision, corporate philosophy, awards, achievements, and corporate milestones of Customer Relationship Strategy. The Banking industry in Bangladesh has experienced significant growth in recent years due to factors such as increasing disposable income, improved Export-Import infrastructure, and changing consumer preferences. This thesis presents a comprehensive analysis of customer relationship strategy by the Bank industry in Bangladesh, with a focus on Brac Bank. The study utilizes a case study approach, incorporating both qualitative and quantitative research methods. Brac Bank has introduced a wide range of products & Services with features and specifications tailored to different customer segments. Additionally, they have emphasized effective branding and marketing strategies to enhance their brand equity and attract target customers. The study concludes by providing valuable insights into the product strategies of Brac Bank in the Bangladeshi banking industry. These findings contribute to the existing body of knowledge on product strategy and provide practical recommendations for Banks operating in Bangladesh. It is hoped that this research will serve as a valuable resource for industry practitioners, academics, and policymakers interested in understanding and improving the bank industries in Bangladesh.