Project to Improve Marketing
Communication of a Chosen Bank in Morocco
Bc. Ismail BEN YAHYA
Master's thesis
2023
MASTER’S THESIS AUTHOR STATEMENT
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ABSTRAKT
Cílem bankovního marketingu je vždy vytvořit silné vazby se zákazníkem a zaujmout ho pro
banku. Proto je nutné měnit komunikační kanály a prostředky mezi oběma stranami. K
pochopení zákazníka se navrhuje několik strategií. Mezi tyto strategie patří řízení vztahů se
zákazníky (CRM). Tato strategie usiluje o minimalizaci vzdálenosti mezi zákazníkem a
bankou a o vytvoření vazeb důvěry mezi nimi. Řízení vztahů se zákazníky využívá všech
funkcí, které nabízí, se záměrem uspokojit zákazníky a vybudovat mezi nimi a bankou pevný
vztah založený na důvěře a závazku. Tyto dva prvky představují nezbytné podmínky pro
rozvoj loajality zákazníka.
Cílem práce je zlepšit marketingové komunikační kanály vybrané banky v Maroku
vypracováním projektu, který pomůže zvýšit účinnost její marketingové komunikace.
Klíčová slova: Marketing, Marketing komunikace, banka, bankovní sektor, , CRM, projekt
development.
ABSTRACT
Bank marketing always aims to create strong links with the customer and engage him with the
bank. Therefore, it is necessary to vary the channels and means of communication between the
two parties. Several strategies are proposed to understand the customer. Among these
strategies, is Customer Relationship Management (CRM). This strategy strives to minimize the
distance between the customer and the bank and to create bonds of trust between them.
Customer Relationship Management exploits all the functionalities that it offers intending to
satisfy the customers and build a strong relationship between them and the bank that is based
on trust and commitment. These two elements represent necessary conditions for the
development of the customer's loyalty.
The thesis aims to improve the marketing communication channels of a chosen bank in
Morocco by developing a project that will aid in enhancing the effectiveness of their marketing
communication.
Keywords: Marketing, Marketing communication, bank, banking sector, , CRM, project
developement
ACKNOWLEDGEMENT
At the outset of this thesis, I wish to express my sincere gratitude and appreciation to my
supervisor, doc. Ing. Miloslava Chovancová, CSc., for her invaluable support and guidance
throughout the course of this project. Her professional expertise, insightful feedback, and
dedication to my development have been instrumental in shaping my research and guiding me
towards successful completion of this thesis.
I would like to thank my family and friends for providing their support and continuous
encouragement, especially to Boutaina Boukhal, Zakaria Assouki, Morad Nafea and Ilias Jadla.
I hereby declare that the print version of my Bachelor's/Master's thesis and the electronic
version of my thesis deposited in the IS/STAG system are identical.
Contents
INTRODUCTION........................................................................................................................................11
OBJECTIVES AND METHODOLOGY.....................................................................................................12
I. THEORY .............................................................................................................................................13
1. MARKETING COMMUNICATION..................................................................................................14
1.1. Definition......................................................................................................................... 14
1.2. Communication Mix......................................................................................................... 14
1.2.1. Advertising............................................................................................................... 14
1.2.2. Sales promotion ....................................................................................................... 15
1.2.3. Personal selling......................................................................................................... 15
1.2.4. Direct marketing communications............................................................................ 15
2. Integrated Marketing Communication ................................................................................. 16
3. New Integrated Marketing Communications (IMC) Tools ..................................................... 16
3.1. Sponsorships (Event Marketing) ................................................................................... 16
3.2. Social Media Marketing................................................................................................ 16
3.3. Search Engine Optimization.......................................................................................... 17
3.4. Mobile Marketing......................................................................................................... 17
4. Marketing Communication Objectives ................................................................................. 17
2. CUSTOMER RELATIONSHIP MANAGEMENT (CRM)................................................................18
2.1. Definition......................................................................................................................... 18
2.2. CRM Types....................................................................................................................... 20
2.2.1. Operational .............................................................................................................. 20
2.2.2. Analytical ................................................................................................................. 21
2.2.3. Collaborative............................................................................................................ 21
2.3. CRM Tools........................................................................................................................ 21
2.3.1. Sales Force Automation............................................................................................ 21
2.3.2. Call centres............................................................................................................... 22
2.3.3. Marketing automation.............................................................................................. 22
2.3.4. Personalization and E-commerce.............................................................................. 22
2.3.5. Service management................................................................................................ 22
2.4. Objectives of CRM system................................................................................................ 23
2.4.1. Retention ................................................................................................................. 23
2.4.2. Identification of market segments............................................................................ 24
2.4.3. Growing customer value........................................................................................... 24
2.4.4. Improve customer service experience...................................................................... 24
2.5. Advantages and Drawbacks of CRM ................................................................................. 25
2.5.1. Advantages............................................................................................................... 25
2.5.2. Drawbacks................................................................................................................ 26
3. CUSTOMER RETENTION ................................................................................................................27
3.1. Retention......................................................................................................................... 27
3.2. Customer Loyalty ............................................................................................................. 28
3.3. Importance of Customer retention................................................................................... 28
3.4. Customer loyalty programs and strategies........................................................................ 29
3.4.1. Loyalty programs...................................................................................................... 30
3.4.2. Loyalty programs strategies...................................................................................... 30
3.4.3. Customer relationship management......................................................................... 32
3.4.4. Heterogeneity management..................................................................................... 32
3.5. Retention Tools................................................................................................................ 33
3.5.1. Customer focus ........................................................................................................ 33
3.5.2. Complaints management.......................................................................................... 34
3.5.3. Loyalty cards ............................................................................................................ 35
4. BANK MARKETING..........................................................................................................................36
4.1. Relationship marketing .................................................................................................... 36
4.2. Aim of Relationship marketing ......................................................................................... 37
4.3. Advantages and limitations of relationship marketing ...................................................... 38
II. ANALYSIS ..............................................................................................................................................39
5. CHARACTERISTICS AND ANALYSIS OF THE BUSINESS OPERATION OF THE CHOSEN
BANK ...........................................................................................................................................................40
5.1. Presentation of the chosen bank and its history ............................................................... 40
5.2. Organizational Structure .................................................................................................. 41
5.3. PESTEL Analysis................................................................................................................ 45
5.4. ANALYTICAL METHODS .................................................................................................... 49
5.4.1. Research Type .......................................................................................................... 49
5.4.2. Questionnaire Survey.............................................................................................. 50
5.4.3. Data Collection Process ............................................................................................ 50
5.4.4. Limitations ............................................................................................................... 51
5.5. ANALYSIS ......................................................................................................................... 51
5.5.1. Characteristic of the examined sample......................................................................... 51
5.6. Results of quantitative research from a questionnaire survey........................................... 53
5.7. Results of qualitative research based on interview with manager..................................... 59
5.8. Discussion........................................................................................................................ 59
5.9. SWOT analysis.................................................................................................................. 60
5.10. Porter’s five forces analysis .......................................................................................... 63
5.11. Marketing Mix of SGMB ............................................................................................... 65
5.12. Benchmarking .............................................................................................................. 66
III. PROJECT PART...................................................................................................................................68
6. MARKETING COMMUNICATION STRATEGY PROPOSAL ......................................................69
6.1. Action plan I : Improving Customer relationship............................................................... 69
6.2. Action Plan II: Diversification of Advertising methods....................................................... 70
6.3. Action plan III : Revising pricing frameworks.................................................................... 71
6.4. Action plan IV : Target student segment........................................................................... 71
6.5. Action plan V: Active Social Media Presence..................................................................... 72
6.6. Acion Plan VI: Creating Customer Advisory board............................................................. 73
6.7. Action plan VII : Personnel education and professional development............................... 73
6.8. Action plan VIII : Strategic Alliance with “BANQUE POPULAIRE”....................................... 74
7. RISK AND COST ANALYSIS OF THE BUSINESS STRATEGY....................................................75
7.1. Cost-Time-Risk analysis .................................................................................................... 75
7.1.1. Cost analysis............................................................................................................. 75
7.1.2. Risk analysis ............................................................................................................. 76
7.1.3. Time Analysis............................................................................................................ 78
CONCLUSION.............................................................................................................................................81
BIBLIOGRAPHY ........................................................................................................................................82
LIST OF ABBREVIATIONS.......................................................................................................................89
LIST OF FIGURES......................................................................................................................................90
LIST OF TABLES........................................................................................................................................91
APPENDICES ..............................................................................................................................................92
Appendix P I: Questionnaire........................................................................................................................93
Appendix P II: Interview questions .............................................................................................................95
TBU in Zlín, Faculty of Management and Economics 11
INTRODUCTION
With the effects of globalization and the opening of markets to the outside world, competition
has become increasingly fierce. In light of that, companies today must show great involvement
in this complex system and must have the tools and instruments to be able to understand its
environment and always watch over its transformations.
In such a context, companies are focusing more on loyalty than on the acquisition of new
customers. Since the acquisition of new prospects is considered to be five times more expensive
than loyalty (steel,2008). According to research by Gupta et al. (2004), a 1% increase in client
retention had a nearly five-fold greater impact on a company's value. Thus, a loyal customer is
more profitable than a new one.
Banks are the most committed institutions to this strategy. They put a lot of effort into this
direction in order to emerge with an added value dedicated to customers. Also, bank marketing
has a lot to say in this sense. Indeed, the bank's marketing constantly encourages customers to
establish great bonds with the institution and interact with it. Therefore, it is necessary to vary
the channels and means of communication between the two parties.
Banks must have all the necessary information about their customers and make efforts to know
them better in order to choose the most suitable means of communication. Several strategies
have been proposed to understand the customer. This includes customer relationship
management (CRM). This strategy aims to minimize the distance and build trust between
customers and banks.
In this regard, I have decided to work on Customer Relationship Management to fully utilize
all the functionalities it offers in order to satisfy the customers, build strong bonds, as well as
establish a healthy relationship between them and the bank based on commitment and trust. On
the other hand, to attract other customer segments.
The aim of this master’s thesis is to gather the theoretical aspects of marketing communication
in the banking sector, conduct an analysis of the selected Bank, and develop a project to
improve the efficiency of its marketing communication in retaining existing clients and
attracting new ones.
TBU in Zlín, Faculty of Management and Economics 12
OBJECTIVES AND METHODOLOGY
The object of research in this thesis is the bank marketing activity of “Société Générale Maroc
Banque” which operates in Morocco. Whereas the subject of this thesis is the Project to
Improve Marketing Communication for the Abovementioned Bank and estimation of cost,
time, and risks of the proposed strategy implementation. The aim of the Master Thesis is to
create a Project to Improve Marketing Communication of a Chosen Bank in Morocco. The
main objective is supported by two sub-objectives, namely:
1. To understand the relationship between CRM in banking marketing and customer
loyalty.
2. To find out the best channel of communication to attract new customers while
retaining the existing ones.
The first chapter is the theoretical part. It reviews the theoretical background of the thesis
elements such as customer relationship management, bank marketing, and customer retention.
The analytical part uses qualitative and quantitative research. It outlines the organizational and
business characteristics of the selected bank. Additionally, an analysis of the organization's
environment, both internally and externally, as well as an analysis of the marketing mix are
both done. Finally, in the project part, we will draw from the analysis part’s results the project
with an aim of improving the bank’s marketing communication and fortifying its customer
loyalty and retention.
The recommendations and conclusions are formulated as the final section of the presented
thesis.
TBU in Zlín, Faculty of Management and Economics 13
I. THEORY
TBU in Zlín, Faculty of Management and Economics 14
1. MARKETING COMMUNICATION
1.1. Definition
Over time, how marketing is defined has evolved. Kotler, P., & Armstrong, G. (2014) defines
It as a management and social process that is utilized by individuals or organizations to get
what they want and need through the act of creating values and trading them with others. Some
scholars, however, defined marketing communication as a customer-influencing component.
The main objective of marketing communication is to persuade consumers to buy goods and
services. It is an essential part of the marketing mix, and new trends define it (Krizanova, Anna,
et al., 2019). There are many various communication alternatives available in modern
marketing. A communication option is essentially any channel of communication that is started
by a marketer and is somehow associated with the brand (Keller, K., 2001).
1.2. Communication Mix
Companies employ a mixture of instruments known as a "communication mix" to carry out
their marketing and advertising objectives (McCarthy, 1979). Additionally, Kotler and
Armstrong (2014) noted that the promotion mix—also referred to as the communication mix—
includes the tools and techniques that businesses employ to pursue their aims and objectives.
The communication mix tools are advertising, public relations, sales promotion, personal
selling, and direct marketing communications (De Pelsmacker, et al., 2007). The components
of the communication mix provide the information and consultation necessary to increase the
value of a good or service. Customers need information about the items or services, and if they
receive accurate information through various communication channels, they feel as though they
are making a good-quality purchase. In essence, this implies that having strong and clear
channels of communication increases the value of a product or service since it gives customers
confidence in the purchase they are making (Akinyele, et al., 2010).
1.2.1. Advertising
Public relations is the management of reputation, relationships with the public, and public
opinion (L’etang, J., 1994). It is built on the interaction between customers and companies, to
put it more accurately. It promotes the business, fortifies the company's reputation, forges ties
with clients, and has an impact on the company's PR (Pelsmacker, et al., 2007).
TBU in Zlín, Faculty of Management and Economics 15
1.2.2. Sales promotion
Sales promotions are used by businesses to boost sales. Sales promotion is highly helpful for
items that are difficult to differentiate from competitors and are also difficult to distinguish
even by a strong company brand. Then, using tactics for sales promotion, freshly added value
is produced for the consumer. Sales promotions include, among other things, price reductions
on special occasions, loyalty programs for devoted customers, discount coupons, etc. (Wright,
2005). Sales promotion activities can be viewed as PR since the primary goal of sales
promotion is to persuade the buyer and influence their choice to acquire the item or service.
The company's reputation is enhanced via sales campaigns (Pelsmacker et al., 2007). The sales
support package includes access to both on- and off-site help. There are discounts, freebies,
bonus offers, and special deals available. Packages, samples, loyalty programs, and other point
of purchase communication techniques are employed.
1.2.3. Personal selling
A salesman and a consumer engage in personal selling through face-to-face interaction. By
providing a product or service that adds value to the consumer, the salesperson seeks to satisfy
the customer's requirements and wants during this process (Cant, et al., 2005). Personal sales
have the drawbacks of having limited reach and minimal power over specific suppliers. Since
sales talents differ across sellers, it's crucial to regularly train and strengthen their abilities for
utmost efficiency (Pikrylová, 2019). Positive attitudes and self-confidence in the seller,
experience and knowledge of the company and its offer, the ability to connect with customer
needs, and a long-term orientation.
1.2.4. Direct marketing communications
Direct marketing is distinct from traditional advertising. In direct marketing, as opposed to
other strategies, personalized information is shown to micro-segments or specific individuals
(Karlicek, 2009). Instead of utilizing a segmentation strategy like mass media commercials,
direct marketing communication is focused on all of the significant target consumers
(Pelsmacker, et al., 2007). Direct marketing communication is the interactive use of advertising
media to impact consumer sentiment and opinion while tracking and evaluating the reactions
(Altstiel, T., 2006).
TBU in Zlín, Faculty of Management and Economics 16
2. Integrated Marketing Communication
In order to improve the consistency of a consistent message conveying the organization's
brands to partners, integrated marketing communication (IMC) is a development of current and
conventional marketing methods. Combining several tactics adds value to creating effective
communication because it addresses the unique benefits of each channel, which when
combined provide a clearer and stronger effect than if used alone (Kitchen et al., 2015).
Advertisers must be aware of the restrictions placed on the elements of the promotional mix as
well as how the target audience will interpret the campaign message in order to advance via
IMC (Kitchen et al., 2015). According to Kim et al. (2004), integrated marketing
communication is a concept and a process that strategically maintains brand communication
programs that are audience-focused, channel-centered, and result-driven throughout a period
of time. It brings together several communication disciplines and understands that they all play
strategic roles in conveying a message that is clear and consistent so that the communication's
impact may be maximized (Kitchen et al., 2015).
3. New Integrated Marketing Communications (IMC) Tools
3.1. Sponsorships (Event Marketing)
Advertising and public relations are combined through sponsorships. Sponsorships raise
awareness of a company or product, create loyalty with a certain target market, assist
distinguish a product from its competitors, provide marketing opportunities, demonstrate
responsibility to a group or ethnic group, or affect everything that counts. Similar to marketing,
sponsorships are begun to build long-term relationships. Using gross impressions or cost-perthousand
estimates, associations occasionally compare sponsorships and promotions (Belch &
Belch (2014)).
3.2. Social Media Marketing
Web-based social networking marketing refers to methods for promoting websites or
businesses using web-based social networking channels. It is a skilled promotional tool that
exemplifies how people convey information. One of the completely low-effort unique
techniques, it provides companies with a huge amount of connections and activities.
Organizations are able to attract a lot of attention, which is beneficial to their business. Online
networking marketing is a potent strategy used by dynamic companies to market their goods
or services or to merely disseminate material for financial gain (Investopedia).
TBU in Zlín, Faculty of Management and Economics 17
3.3. Search Engine Optimization
By using keywords and phrases to optimize websites, they appear at the top of search results
for such terms (Malaga, 2007). In a 2010 article, Kisiel discussed the importance of search
engine optimization (SEO). According to the article, businesses should employ this procedure
to boost the number of search engine visits to particular company websites.
3.4. Mobile Marketing
By using a mobile (or portable) device to communicate with the client, portable marketing can
convey a simple marketing message, inform them about another crowdsourcing campaign, or
invite them to a mobile website (Techopedia).
4. Marketing Communication Objectives
The goals that a business or organization seeks to accomplish via its marketing and
communication operations are referred to as marketing communication objectives. Following
are a few typical marketing communication goals:
Creating and enhancing a brand's visibility and recognition within the target market is the goal
of this purpose. This may be accomplished by using a variety of communication channels,
including social media, events, public relations, and advertising (Keller, 1993). Moreover,
increasing brand loyalty by giving current consumers a great experience, individualized
communications, and pertinent offers. Marketing communication seeks to deepen the
connection between the company and its patrons. The objective is to convert clients into
devoted brand ambassadors who will spread the word about the business (Aaker, 1991). In
addition, enhancing brand image. This goal entails influencing how the target market perceives
and associates with the brand. This may be accomplished by using a range of marketing
communication techniques, including social media content, public relations, sponsorships, and
advertising campaigns (Keller (1993)). Creating leads and closing sales is considered to be one
of marketing's objectives. With the use of focused marketing communication strategies, this
purpose seeks to promote customer growth and boost sales. The main goals are to find new
clients, engage them with interesting communications, and lead them through the sales funnel
(Keller and Kotler, 2016). Finally, educating consumers by informing them about the brand,
its goods and services, and its advantages. The objective is to create trust and credibility with
the brand while assisting clients in making educated purchasing decisions (Belch and Belch
(2014)).
TBU in Zlín, Faculty of Management and Economics 18
2. CUSTOMER RELATIONSHIP MANAGEMENT (CRM)
2.1. Definition
The global breakdown of the acronym customer relationship management (CRM) reflects close
coordination between technical support and commercial strategies with the aim of offering
products and services to customers to meet their expectations (Anshari et al., 2019). According
to Delers, A., et al. (2015), "CRM designates the whole of the strategies, tools, and techniques
that make it possible to record, manage, and enrich the relationship with the current customers
and even pack up the old ones to be reconquered ". CRM is the capacity to build a long-term
profitable relationship with the best consumers by capitalizing on all the points of contact
through an optimal allocation of the available resources. CRM presumes the genesis of various
dimensions to be known (Yim et al (2005)):
 Customer orientation
 CRM organization
 Knowledge management
 Technology based CRM
This business strategy is oriented toward customer satisfaction and loyalty, it is focused on
differentiated, personalized, and "one-to-one" marketing. The core principle it stands for is
knowing that not all customers are the same nor are they equal, and the customer's behavior
will depend on the promise of the reward.
In the field of service activities, there are six marketing policies that aim to lead customers to
maintain relationships with their institutions (Grönroos, C. (2007)):
 The realization of quality service in order to satisfy the customers.
 The personalization of service and customer care.
 Offering additional peripheral services free of charge.
 Preferential treatment so that the best customers benefit from price reductions.
 Implementing internal marketing activities that rely on the mobilization of the
company's personnel.
 Creating transfer costs where customers are forced to maintain positive behaviors
towards the company.
CRM helps to define the behaviors of customers and their desires, as well as their added value
to the company. Moreover, CRM has as its objective to offer and propose technological
TBU in Zlín, Faculty of Management and Economics 19
solutions allowing to reinforce the communication between the customers and their companies
to consolidate the relationship with them. It also brings together three essential functions: first
of all, marketing, then sales, and finally customer service. According to CapGemini (a
multinational information technology services and consulting company), the CRM is divided
into its objectives and actions according to the customer into four phases, using various
techniques and different concepts:
Phase I: Knowing the Customer: In this phase, the company gathers all the information that
allows it to characterize and describe the clientele, position itself on the market, and detect new
segments. Nowadays, the technological means that exist have the purpose of managing,
consulting, and analyzing massive amounts of data. From a technical point of view, CRM
implies capturing at the level of the company, the whole of the customer's data, collected
internally or near external organizations, and integrating them in the DataWarehouse-directed
customer.
Phase 2: Selecting the customer: This phase aims to analyze this data using the most advanced
techniques. data mining for statistical analysis in order to make the results available on all
channels of interaction with the customer. Data mining allows the interpretation and analysis
of data from multiple sources in order to highlight trends, gather similar elements into statistical
categories, and formulate hypotheses. When the information is collected, the company can have
answers on which to base its operational strategy. The centralization of this data should
facilitate the management of all the company's activities.
It is then necessary to differentiate the customers according to their needs and their contribution
to the result and to dialogue with them so as to decrease the costs of the commercial relationship
while maximizing its effectiveness. Therefore, this dialogue with the customer must bring up
the information.
Phase 3: Winning new customers: The implementation of a customer-oriented strategy
concerns the entire sales process. New sales channels (e-commerce, telesales, etc.) create
business opportunities. New tools such as Sales Force Automation allow salespeople to better
manage their activity and increase their efficiency by building their proposals in direct
interaction with the customer.
Phase 4: Retain the Best Customers: The after-sales service becomes a privileged opportunity
to build a lasting and personalized relationship with customers, by proposing offers that are
adapted to their needs. The ideal vector of this relationship is the call center, which allows for
the orchestration of all the elements of the customer strategy. The personalized relationship
TBU in Zlín, Faculty of Management and Economics 20
guides the interview in order to propose to the customer offers adapted to his needs, and this
allows the company to improve its knowledge of the customer, refine its strategy, and increase
its commercial efficiency. Beyond this observation, the advantages provided by efficient
customer relationship management are of several natures: being attentive to the customer's
needs and establishing profiles allows the company to bounce back from its contact.
2.2. CRM Types
To clarify the concept of CRM, the Meta Group (a group of researchers and professionals),
proposes a segmentation into three categories of its different components. Thus, from a
functional point of view, CRM can be organized into three main types: operational, analytical,
and collaborative (Josip Mueller; Velimir Srica 2005).
Figure 1. Components of CRM (Source: Josip Mueller; Velimir Srica 2005)
The ecosystem generally retained to expose the idea of CRM and suggests the following three
components: operational, analytical, and collaborative.
2.2.1. Operational
This area leads the automation of processes that affect several departments that are in contact
with the customer, namely: the marketing department, sales, and customer service, via different
means of interaction. This part focuses mainly on the management of the sales force (CRM
software).
TBU in Zlín, Faculty of Management and Economics 21
2.2.2. Analytical
This part is based on decision-making; it allows for examinations of the whole customer
database and is linked to the data warehouse and the different decision-making applications.
The objective of this part is to improve and enhance customer knowledge and to help marketing
managers in their decision-making (CRM software).
Customers are a new source of information for all companies. They are located at the heart of
the information system and are shared by all the company's applications. The knowledge base
is important for the proper functioning of all customer relationships. The knowledge base is
always specific to the company because it reflects the particularities of its strategy and its
business.
2.2.3. Collaborative
It creates group work techniques to set up different channels or actions to interact with
customers, such as e-mail, conferences, faxes, and letters. The objective of this part is to make
better and improve customer contacts and to send messages through the right channel at the
right time (Tavana, et al, (2013)).
2.3. CRM Tools
CRM tools aid businesses in managing their interactions with clients and prospects. These tools
offer a centralized database for customer information while streamlining and automating
different processes.
2.3.1. Sales Force Automation
To improve their marketing strategy, salespeople use their sales forces. (Gilbert D. Harrell,
2002). This is the set of tools available to salespeople that allow them to structure, share
customer data, and they also allow the tracking of customer files and ongoing actions. These
tools can be implemented on phones or PDAs (Personal Digital Assistants). They improve the
productivity of salespeople and will allow team leaders to judge results, either at the group or
individual level (Buttle, Francis (2003)).
Contact management is an important part of sales automation. It concerns the commercial
activities in which sales and prospecting are followed in real time, and the follow-up of
estimates and sales cycles is simplified by taking the data into account.
TBU in Zlín, Faculty of Management and Economics 22
2.3.2. Call centres
In a call centre, operators have a headset and a microphone to answer the phone with the
objective of encoding the information that is sent to them and processing the files. For each
type of call, there is a standard procedure "script mentioning the questions to be asked and the
information to be reflected". Today, with the arrival of new technologies such as the Internet,
this operation has become limiting. At the time, almost all interactions were done by phone,
but nowadays everyone uses mailing or chats over internet channels (Jeffrey Peel, 2003).
2.3.3. Marketing automation
It helps marketing managers to better know the different segments of the clientele, elaborate
the campaigns, and evaluate the results. It is an instrument that allows the customer to design
his/her product according to his or her requirements. The customers specify their functional
requirements, and the configurator transcribes them into technical details to determine the final
product. Then the product can be launched in production.
The automation of marketing campaigns aims to improve marketing actions regardless of the
channel used and offers a generalized view of all campaigns and a clear adjustment Marketers
benefit from marketing automation. Marketers can concentrate on designing more
individualized and successful programs that produce higher-quality leads and conversions by
automating processes like email campaigns, social media postings, lead scoring, and more
(Nicastro, Dom 2021).
2.3.4. Personalization and E-commerce
E-commerce allows several commercial operations to be carried out, namely payment via the
Internet. This allows a great exchange with the customers and progresses towards what is called
one-to-one marketing.
The personalization tools are used to specify and determine the profiles of customers so that
commercial proposals can suit their needs and expectations.
2.3.5. Service management
In the logic of customer loyalty, the management of after-sales services has become essential.
It mainly allows responding adequately to all the customers' requests. Service management can
be used as a CRM tool to automate customer support, provide proactive support, and track
customer interactions (Service Max). However, the first step is to qualify the requesting
TBU in Zlín, Faculty of Management and Economics 23
customer and then to qualify the request itself (complaints, requests for information, assistance,
Etc.).
After the research, the person in charge of the support sends the appropriate answer at an
acceptable time. In case of an intervention, the terms and conditions and the appointments are
fixed in relation to the schedules of each customer. As well as a satisfaction survey offers a
way to control in a good way service delivery and qualitative follow-up. The service
management tools aim at keeping the history of all the clients and creating the and to create a
knowledge base.
The CRM approach must develop specific, measurable goals that must be attained. Profit is
undoubtedly one of those goals, but sustainability is also obviously connected to it. This,
according to Mukerjee (2007), necessitates a corporation having four competencies. The
company needs to be technologically capable to provide the CRM practice with the needed
functionality. Second, its personnel must possess the knowledge, skills, and dispositions
necessary to develop CRM and carry out initiatives. Thirdly, it needs to concentrate on the
processes that the business has identified to enable the CRM initiatives to be realized, including
its transactional interactions with customers. Lastly, the business needs to identify the best
methods for learning and understanding how to increase the value of the customer by building
stronger and deeper relationships with the right group of clients.
2.4. Objectives of CRM system
The goals of a CRM system might change based on the unique requirements of a company, but
in general, they are to give a single picture of the customer across all touchpoints, boost
customer engagement and loyalty, and facilitate communication and cooperation among
various departments. Businesses may detect client requirements and preferences, tailor
marketing and sales activities, and improve the customer experience with the aid of a welldesigned
CRM system. CRM has the potential to be a potent instrument for creating lasting
customer relationships and fostering long-term business success in this way. In the following
the main CRM objectives:
2.4.1. Retention
Customers are growing less loyal to brands, and product life cycles are getting shorter as they
grow less interested in marketing messages since neither consumers nor businesses desire
additional options. With the help of technology, businesses can now provide customers with
TBU in Zlín, Faculty of Management and Economics 24
what they want, when they want it, and how they want it. (Pine et al, 1995:104). Management
of the history of the customer relationship and a good collection of information allows a regular
personalized relationship. There are several specificities that make customers feel at home:
letters exchanged either by e-mail or paper, the history of the customer's relationship with the
company, telephone calls, knowledge of the identity of the contact person.
2.4.2. Identification of market segments
Identifying habits gives the possibility to build homogeneous groups of customers. The
segmentation approach is employed to organize clients into comparable categories based on
similarities such as industry, employment, or other criteria (Collica,2007).
The goal is to adapt the discourse and the offers to the expectations of the groups. Therefore,
it is essential to gather all commercial information from different sources, for example, notes
taken by sales representatives on their personal assistants, forms that are filled out on the
Internet sites, strategic news of a sector, and Geomarketing studies. Etc.
2.4.3. Growing customer value
The concept of customer value is necessary. There are customers who ensure the gains and
profits of the company and those who do the opposite.
This allows the company to adapt by offering complementary products and by anticipating the
demand as well as by adapting the tariffs through the information from tracking customer
behavior to customer tastes and needs. CRM could contribute to a competitive advantage by
improving the time spent following up with the customer, and the degree of satisfaction with
the invoices. This approach is often used during periods of structural cost reduction (Nambisan,
S (2002)).
2.4.4. Improve customer service experience
A customer must be followed up, therefore, the results of marketing operations such as
responses, call-back dates, and reasons for refusal should be collected Customers typically have
some inquiries, worries, or desires. CRM services give a business the capacity to create,
distribute, and manage requests or other items made by customers. One CRM feature that may
be used to boost efficiency is contact centre software, which assists in connecting a client to
the manager or individual who can best help them with their current issue (Bolte, T (2007)).
TBU in Zlín, Faculty of Management and Economics 25
2.5. Advantages and Drawbacks of CRM
2.5.1. Advantages
Identifying key customers: The first advantage a firm may get from a CRM system is
identifying its most important clients. Many businesses, notably in B2B environments, generate
a significant amount of their revenue from only a small number of clients. The Pareto Principle
states that 80% of a company's revenue may come from 20% of its clients. This is known as
the 80/20 rule. However, creating a suitable IT environment with current databases that give
the marketing department all the information required is a crucial requirement for this. This
makes it possible for the business to swiftly obtain client data and respond to recognized
requirements, which reduces lead times and ultimately boosts customer satisfaction.
Developing appropriate relationships with key customers: Knowing present and future
important consumers helps the business identify with whom to forge closer ties and offer more
specialized products or discounts, for example. The company's improved customer service
capabilities eventually result in lower customer service expenses and also make it simpler to
target and recruit similar clients (Rigby, Reichheld and Schefter 2002a). As a general rule in
marketing, maintaining current clients is far easier and less expensive than obtaining new ones,
which makes CRM quite beneficial. Retaining clients spend more money with a business,
which helps to boost profits through cross-selling activities and more interactions with the
provider (Hennig-Thurau, Gwinner and Gremler, 2002a).
Establishing customer segments: The third advantage, creating customer segments, could be
more suitable in B2C settings where there are millions of essential customers as opposed to a
small number in B2B settings. CRM allows consumer database information to be used to create
customer segments and enhance customer interactions.
To ensure long-term financial success, a company must take both active and passive steps to
preserve and grow its client base. (Hennig- Thurau, Gwinner and Gremler, 2002b). Their
study's conclusions indicate that relationship management is essential for a company to succeed
since it allows a company to integrate these two strategies.
TBU in Zlín, Faculty of Management and Economics 26
Figure 2. Integrative model of factors influencing important relationship marketing results:
Source: Hennig-Thurau, Gwinner and Gremler, 2002
As demonstrated in Figure 2 above, a positive relationship between the consumer and the
business results in two positive outcomes: enhanced word-of-mouth advertising and higher
customer loyalty. The consumer is more devoted to the business, on the one hand. Having a
better understanding of the needs of the consumer and tailoring products and services results
in better service quality and ultimately increased customer satisfaction with the business.
(Rigby, Reichheld and Schefter, 2002a). Word-of-mouth advertising, another consequence, is
more prevalent and crucial for business expansion. A happy consumer is more likely to
recommend a business to their friends and family if they have a good relationship with it.
2.5.2. Drawbacks
Implementation costs: CRM system implementation can prove pricey, particularly for small
organizations with tight funds. The expenses could include hardware, hardware licensing fees,
instruction, and continuing support and maintenance (Singh, R. K. (2018)).
Over-reliance on CRM: When employees become overly dependent on CRM software, it limits
their flexibility in responding to consumer inquiries. They frequently feel powerless in the face
of client inquiries involving information that isn't stored in the system and calls for creative
problem-solving. Customers may grow irritated and turn to a rival as a result, which has clear
repercussions for the customer experience (Business News Daily).
TBU in Zlín, Faculty of Management and Economics 27
Problems with data quality: CRM relies on precise and comprehensive data to offer insightful
information. Incomplete or poor-quality data can produce flawed insights and incorrect
inferences (Singh, R. K. (2018)).
Safety issues: CRM systems hold sensitive customer data that is susceptible to hacker attacks
and data breaches. To keep customers' confidence and stay out of trouble with the law, it is
essential to ensure data security and privacy (Singh, R. K. (2018)).
Integration with Current Systems: It might be difficult and time-consuming to integrate a new
CRM system with Current Systems. Implementation delays and higher expenses may result
from this (Salesforce).
Incomplete Customer interaction: CRM systems sometimes concentrate on information that
organizations have gathered through touchpoints; therefore, they may not offer a whole picture
of customer interaction. This may lead to an insufficient understanding of the demands and
journey of the consumer (Gartner. (2021)).
3. CUSTOMER RETENTION
3.1. Retention
According to Calik and Balta (2006), customer retention refers to a consumer's continued
support of a business. According to Kasim and Souiden (2007), loyalty, intention to repurchase,
and satisfaction are distinct constructs, and they also have a separate relationship from the
customer-firm association. Due to the complexity of the service sector, it is challenging to
develop a precise understanding of client loyalty or retention (Kasim and Souiden 2007). A
customer's choice of a company and their continuous support of the company are less clear,
which makes it challenging for organizations to forecast customer retention.
In their study, Zeithaml et al. (1996) show how a company's profitability is significantly
impacted by client retention. Customer defections, according to Riechheld and Sasser (1990),
have a detrimental effect on the organization's market share value. When it comes to
competition, this could be risky. Given the circumstances. According to Gronroos (2001),
keeping existing clients is more beneficial and economical than finding new ones. Maintaining
a current client's satisfaction is more cost-effective, and a happy, devoted customer is more
likely to increase their investment than if a new customer had to be persuaded to make their
first investment (Lam et al. 2005 & and Lagrosen 2007).
TBU in Zlín, Faculty of Management and Economics 28
3.2. Customer Loyalty
Numerous academics and researchers concur that customer loyalty is crucial to a company's
success since it is regarded as the "backbone of the business," (Gremler and Brown (1996).
Customer loyalty is an essential aspect of any organization, whether it offers goods or services.
Many organizations are looking for a variety of ways to increase customer loyalty to positively
impact organizational profitability (Gremler 1996). On the other hand, Customers can
demonstrate their devotion by repurchasing the product and spreading good word-of-mouth
recommendations.
According to Hu et al. (2009), elements that affect customer loyalty include the organization's
corporate image as well as the level of service quality provided. Numerous studies have found
a correlation between an organization's corporate image and its customers' loyalty, with the
latter increasing as the former does (Hu et al. 2009). Additionally, one of the key elements
influencing client loyalty is believed to be customer satisfaction. This is primarily because a
happy consumer is more likely to remain a devoted supporter of the business and share a
favorable word of mouth. (Hu et al. 2009). However, Hu asserts that a happy customer may
not always be a devoted one. Because of this, several businesses have developed customer
loyalty programs as an additional measure to guarantee their client's satisfaction and
commitment (Hawkins and Mothersbaugh 2009).
3.3. Importance of Customer retention
Today, maintaining a loyal customer base is essential for the survival of businesses.
Determining the importance to be accorded to the loyalty objective and setting the conditions
for actions to be privileged requires a thorough understanding of the benefits and interests of
maintaining a loyal customer base.
Loyalty is considered a cause of financial and commercial risk reduction. Indeed, Reichheld
and Sasser (1990) studied the profit per customer according to their seniority in different
industries. They found that the longer a customer was with the company, the more profitable it
was. Profits over five years are summarized in the following chart (index 100 = the first year):
TBU in Zlín, Faculty of Management and Economics 29
Figure 3. Profits generated by a client over 5 years (Source: Reichheld F, Sasser)
In summary, retaining customer loyalty is important to businesses for the following reasons:
 Limit customer evasion or defection. A dissatisfied customer tells about ten people
about his/her bad experience, while a satisfied customer tells at best three people.
 Retain profitable customers as long as possible. It is more costly for the company to
recruit new customers than to keep those already acquired and convinced.
 Increase the company's profitability. By favouring investment in customers, the
company increases its profitability.
 Increase positive word of mouth. The greater the satisfaction, the more positive the
word of mouth spread.
According to these last reasons, a company's or brand's loyal clientele is considered a a true
intangible capital.
3.4. Customer loyalty programs and strategies
The idea of a loyalty program is relatively new. The principle of recognizing the value of the
customer and opting for greater proximity to the customer was mainly formalized in the
industry by the first loyalty program (F. Reichheld 1996).
TBU in Zlín, Faculty of Management and Economics 30
3.4.1. Loyalty programs
Nowadays, loyalty programs are considered to be the mainstay of many companies. These
programs are part of defensive customer retention strategies, based on the twofold belief that
keeping a customer is cheaper than winning a new one and that the best ones are the most
profitable.
Jean-Marc (2003) explains that "by the loyalty program, we distinguish a set of actions
organized in such a way that customers who are interested and loyal are stimulated and
maintained. in other words, the rate of lost customers is minimized, and the volumes
purchased are increased". Yet, these customer loyalty programs achieve the following goals
(Kotler & Armstrong 2010):
 Keeping customers, therefore keeping its market share, ensuring the level of sales,
margin, and profit.
 To ensure a stable sales base for the company, this is the notion of goodwill, for the
company, customer loyalty represents in a way a guarantee of future earnings.
 To reduce the investment represented by the customer acquisition costs.
 Reduce the operational costs of subsequent transactional flows.
Loyalty programs are widely spread in sectors that provide goods or
services. Their modalities often refer to the use of processes derived from traditional
promotional methods, encouraging the customer to double and continue his purchases to
obtain a reward.
3.4.2. Loyalty programs strategies
A useful loyalty strategy includes the analysis of the customer's profitability over time. MeyerWaarden
and Benavent outline two strategies designed by companies in relation to a dual mode
of competition.
TBU in Zlín, Faculty of Management and Economics 31
Figure 4. Two strategies to avoid competition (Source: Benavent Christopher)
The above Figure displays the two avenues of avoidance of competitive games:
 The first is more traditional, pursuing the strategy of differentiation and trying to get
consumer preference with fairly offensive objectives.
 The second is defensive and seeks to lock in and maintain customers by erecting real
barriers to exit, separating customers from competitive pressures, to prohibit free choice
in some way.
loyalty programs pursue two main strategies that are additional and depend on the market
context (Meyer-Waarden and Benavent, 2001). First, we have the management of the customer
relationship with a general objective of increasing and maintaining the level of business, then
the management of customer heterogeneity, as a tool for discrimination of marketing actions
in order to effectively manage the variety of customers and their expectations and desires.
TBU in Zlín, Faculty of Management and Economics 32
Figure 5. Two strategies of loyalty programs (Source: Meyer-Waarden and Benavent)
3.4.3. Customer relationship management
Establishing an interactive, individualized relationship between a company and a customer
therefore makes it possible to know the individual needs of the customer in order to satisfy
them more and more precisely. According to L. Meyer-Waarden, C. Benavent, there are three
levels of action:
Increase relational value: The company seeks to implement a relational approach that amounts
to the development of a learning relationship fostered between the company and the customer
and fed by regular feedback in order to update their knowledge and meet the individual needs
of the customer, with a view to increasing the barriers to exit.
Increasing the flow of transactions: either by developing customer satisfaction with each
experience or offering complementary products and increasing revenue by seeking to
accentuate and intensify customer value.
Locking in customers: This level of action aims to lock in customers and create internal,
captive, or domesticated markets, as well as to initiate actions on limited but domesticated
segments.
3.4.4. Heterogeneity management
It is based on differentiation and price discrimination. There are essentially loyalty programs
in retailing that seek to discriminate based on knowledge of customers via loyalty cards,
certainly through the storage of information on customer behaviour (Benavent Christophe and
Meyer-Waarden Lars (2001).
TBU in Zlín, Faculty of Management and Economics 33
Ultimately, a loyalty program is a tool that is integrated into a customer-oriented marketing
strategy. It offers the possibility of managing the customer portfolio dynamically according to
the value of the customers and their life cycles. In this respect, it pursues two strategies, the
first is the management of customer heterogeneity in order to use their diversity, and the second
is the management of the customer relationship in order to domesticate the customer and
increase their consumption level.
The program is therefore an instrument of differentiation and, above all, an instrument for
creating long-term interactive and structured relationships.
3.5. Retention Tools
According to Jean-Marc (2003), designing and developing a loyalty strategy means first of all
adopting and prioritizing a marketing approach. Companies have several ways to attract and
retain customers. But each company must find its own approach according to its context. It is
then necessary to find the right mix of loyalty techniques. Brossard (2001) creates his
classification of basic loyalty techniques around two main key mechanisms: recognition and
reward. The first mechanism, reward, use promotional and rational levers. The second
mechanism is recognition, which mainly uses emotional levers.
3.5.1. Customer focus
A customer leaves a company for several reasons, either because the company does not pay
enough attention to him, or because he is disappointed by the contact with the staff. This is
why it is so important to listen to customers and establish a dialogue with them. This listening
is essential to create the relationship and adjusting the offer to the expectations.
According to Didier (2000), listening to customers pursues various goals that need to be
emphasized:
 Taking into consideration the explicit request of the customer.
 Understanding the customer's expectations and concerns; becoming familiar with the
customer's context and constraints.
 Establishing and strengthening an interpersonal relationship.
 Gathering personal information on customers, in order to make adapted offers (a
customer database).
TBU in Zlín, Faculty of Management and Economics 34
 Appreciate the quality of services and products provided through the eyes of the
customer.
 Identify problems and weaknesses, in order to eliminate them.
 Understand why a customer has chosen to leave the company and go to another.
 Understand why a customer has chosen to leave the company and go to another one.
 To situate the company's offers in comparison with those of other competitors.
 To take into consideration suggestions from customers that can enrich the company's
offer.
 Identify new expectations suitable for emerging needs.
Because of these different and complementary goals, the company must implement different
listening practices. However, according to Noye Didier (2000), there are two essential
practices: on the one hand, the approach that aims to go to the customers in order to understand
their concerns and needs, and on the other hand, the different opportunities to exchange via
telephone. The purpose of the customer interview process is to organize interviews with
customers, asking the company's employees to conduct interviews to gather qualitative
information from the customers who are well selected. Regarding telephone interviews, several
rules must be observed to ensure a good quality of listening:
 Answer the phone as soon as possible without exceeding three rings.
 Present yourself in a welcoming manner.
 Listen to the customer, question him/her, identify him/her and take care of him/her.
 Provide an answer and a solution and make an offer.
 Reformulate what has been said and end with a cordial intention.
 lead the customer to the appropriate person..
3.5.2. Complaints management
Dealing with customer complaints is necessary for companies in the sense that it aims to limit
customer dissatisfaction and increase customer loyalty. According to Hirschman, a customer
who is dissatisfied with the company's services or products has three choices:
 Stop buying that company's products.
 Show and protest the dissatisfaction with the company, it is (the attitude of complaint).
 Continue to buy the company's products.
TBU in Zlín, Faculty of Management and Economics 35
Noye Didier (2000) believes that the complaint is an opportunity to listen to the customer and
consolidate ties with the latter and that its treatment is an opportunity to discover the deep
reasons for a problem to remove them and remove them in a sustainable way. One of the most
remarkable studies on the management of customer complaints was the report of the Technical
Assistance Research Program Institute in 1986. This institute based its conclusions not only on
its own research but also on a precise critique of other studies conducted around the world. The
source of these studies shows that:
 A well-handled claim is an opportunity to win back a customer.
 A customer who does not make a complaint is usually a lost customer.
 While a customer whose complaint has been well handled will buy from the company
again.
According to Noyé Didier (2000), each company adopts its own methods for handling.
complaints. But generally, the general logic of complaint handling is as follows:
 Collection of complaints, listening to the problem.
 Then recording the complaints.
 Acknowledgement of receipt, short response with rephrasing an apology.
 Identification of the object of the problem and the appropriate processing circuit.
 Maintains contact with the customer during this processing phase.
 Finalizing the response and finding a solution to the problem.
 Final response and thank you.
 Internal communication about complaints and their handling.
 Satisfaction measurement for the claims handling process.
3.5.3. Loyalty cards
A customer is given a card that allows him to have different advantages with the company and
some partners (accumulation of points, credits, gifts, sending of catalogues, discounts,
privileged access to different services, technical assistance...). Despite the proliferation of
loyalty cards which leads to a certain saturation of the target, it is considered among the most
appropriate loyalty techniques, notably because it can be used at two levels: the cardholder
obtains advantages on simple presentation of his card (when the customer is active) and the
card issuer uses the behavioural information collected to trigger adapted marketing actions.
TBU in Zlín, Faculty of Management and Economics 36
This card is also one of the most used loyalty tools because it is very flexible in terms of its
implementation, and most often easy to use for the cardholder (Roehm et al. (2002)).
Building customer loyalty is a delicate and complex mission where several criteria are
involved. It is a determining element in the strategic, operational, and action plans of the
company. For this reason, researchers in this field are constantly developing, improving, and
criticizing the strategies and tools that can increase the attachment of a customer to a company
in general. From another point of view, companies operating in the business-to-business (B2B)
sector are subject to significant international competition, forced to specialize, and must build
customer loyalty by individualizing their offer and more specifically their relationship with
them. They achieve this through a real culture inspired by "Customer Marketing".
4. BANK MARKETING
In the past, the main concern of banking institutions in their marketing strategies was to offer
their customers the best product. The information attached to customers was often product
related. Nevertheless, the Customer was flooded with similar offers. As a result, banking
products were commoditized at identical prices and similar added value.
Today's customer is becoming more and more demanding. The emergence of Relationship
marketing, which is a transition from a product orientation towards a customer orientation,
represents a transaction of marketing toward a new view of the market.
4.1. Relationship marketing
Numerous authors and academics have offered various definitions and explanations of the
notion of relationship marketing. Relationship marketing was defined by Gronroos (1994) as a
mutually beneficial exchange and fulfilment of promises by the two parties through chains of
relations over the duration of their relationship. Many reprinted viewpoints have contributed to
the definition of the relationship marketing topic, namely commitment, trust, long-term
cooperation, and orientation (Payne and Ballantyne 1991). Relationship marketing, as
described by Jobber and Fahy (2006), is the process of establishing, fostering, and enhancing
rapport with customers and stakeholders.
Relationship marketing focuses on strengthening, maintaining, and expanding existing, costeffective
business relationships with clients, employees, shareholders, suppliers, and other
stakeholders for mutual gain. (Boone and Kurtz, 2007). Enhancing exceptional customer
service quality increases the possibility of developing a lasting relationship with the clientele.
TBU in Zlín, Faculty of Management and Economics 37
Relationship marketing is a concept that may be used in many different businesses. Due to the
constant physical contact between clients and service providers, it is particularly important in
the service industry. consumer satisfaction also encourages a deeper relationship with the
dealer, enhancing the dealer's ability to forge a connection between the consumer and a thirdparty
functioning in the market. (Liu,Tao, Li and El-Ansary, 2008).
4.2. Aim of Relationship marketing
The Relationship marketing approach is centered on the consumers and their long-standing
relationships with them. This relationship is seen as a "capital asset" in the business, which
implies a provision and priority on resources and cash directed towards this area. (HennigThurau
and Hansen, 2000). The main goal of relationship marketing is to establish mutually
beneficial long-term relationships with the major stakeholders in order to grow and maintain
their businesses. (Gummesson, 2008). This relational approach improves not just the consumer
interaction within the corporation but also interactions with marketing partners, employees,
and the financial community. Through enduring relationships with all stakeholders, this allencompassing
aspect supports the company. The aim of relationship marketing is to help
businesses recognize and appreciate their clients as much as possible while also creating a
unique company benefit that includes a marketing network. (Kotler and Keller, 2009).
Relationship marketing also entails, according to Pop (2006):
 Examining customer satisfaction;
 Being proactive in lowering customers' perceived risks and uncertainty
 Putting into practice strategies designed to win over clients and build long-lasting
relationships
 Long & short-term customer satisfaction
In the modern world, the primary role of marketing is to determine the value that customers
are intended to create, express, and receive. (Zeithaml V. et al. 2006). Relationship marketing
strategy's primary objectives are to fortify customer relationships in order to acquire an
advantage over others globally, adjust to technological change, and shorten the "time-tomarket"
for new products or services. It is believed that building stronger relationships with
existing consumers is just as important to long-term marketing success as acquiring new ones.
TBU in Zlín, Faculty of Management and Economics 38
4.3. Advantages and limitations of relationship marketing
Relationship marketing has several advantages and limitations. In this section we will list some
of the advantages and limitations of relationship marketing.
Table 1: Advantages and drawbacks of relationship marketing
Advantages of relationship marketing Limitations of relationship marketing
 Improved customer retention and loyalty
(Gummesson, 2002)
 Higher customer lifetime value (Kumar &
Reinartz, 2016)
 Enhanced customer satisfaction (Berry &
Parasuraman, 1991)
 Reduced marketing expenses (Grönroos,
2000)
 Improved comprehension of consumer
needs (Parvatiyar & Sheth, 2001)
✓ Difficulty to measure success (Grönroos,
2000)
✓ Costly and time-consuming (Hennig-Thurau
& Hansen, 2000)
✓ Reliance on customer loyalty which can be
unstable and susceptible to external
factors(Parvatiyar & Sheth, 2001)
TBU in Zlín, Faculty of Management and Economics 39
II. ANALYSIS
TBU in Zlín, Faculty of Management and Economics 40
5. CHARACTERISTICS AND ANALYSIS OF THE BUSINESS
OPERATION OF THE CHOSEN BANK
5.1. Presentation of the chosen bank and its history
Société Générale Maroc (SGMB), a century-old bank founded in 1913 opening its first
branches in Tangier and Casablanca, is rooted in the history of Morocco. Société Générale
Maroc has established itself as the go-to bank for the growth of the country's economy for more
than a century. It is historically distinguished by its attachment to a set of values that shape its
corporate culture. In Morocco, these values are expressed in particular through openness,
sharing, and solidarity (Document d'enregistrement universel 2021).
Moreover, Société Générale Maroc is closely involved in the country's bancarization. It has
developed the first offers dedicated to employees who do not possess a savings/current bank
account at any ban (unbanked employees). In a context of market liberalization where the least
well-off populations do not have access to financial services, the Bank was also among the first
financial organizations to encourage the micro-credit sector, by providing real financial support
to the country's main micro-credit associations (Document d'enregistrement universel 2021)..
Société Générale Maroc has been operating in Morocco for more than 100 years, and with its
14 specialized subsidiaries and a tried-and-true universal banking strategy, it has grown to
become a major financial conglomerate (Document d'enregistrement universel 2021)..
The SGMB organization, which includes its subsidiaries, is the top international financial
organization in the nation and engages in all types of business. The group strengthens its
relationship with its customers by providing expertise in various specialized financial
businesses through its subsidiaries. The below, are SGMB’s current active subsidiaries and
their timeline(Document d'enregistrement universel 2021).:
 Eqdom
 La Marocaine Vie
 ALD Automotive
 Sogelease Maroc
 Sogecapital Bourse
 Sogecapital Gestion
 Foncimmo
 Société Générale Banque Offshore
TBU in Zlín, Faculty of Management and Economics 41
Figure: 6. Subsidiaries of SGMB (source: sgmaroc.com)
Société Générale Maroc has been able to adapt its organization and its structure in order to best
meet the expectations of all its clients: Large companies, institutional investors, SMEs,
individuals and professionals, covering all areas of activity and offering a wide range of
complementary businesses. In Morocco, Société Générale is driven by a corporate project
aiming to make their bank "The benchmark relationship bank in its markets, close to its
customers, chosen for the quality and commitment of its teams". Nearly 4,000 employees are
currently driven by this same ambition, which is supported by four key values: Team spirit,
Commitment, Responsibility and Innovation (Document d'enregistrement universel 2021)..
5.2. Organizational Structure
SGMB has developed its organization to make it more robust, more integrated, more agile, and
capable of anticipating the changing needs and expectations of its customers. The evolution of
the organization therefore responds to a double challenge:
To be more agile, in order to capture growth opportunities, particularly in digital, to react more
quickly to market expectations, and to encourage new ways of working and interacting, which
are sources of innovation
Make full use of the synergies between the business lines and specialized subsidiaries to
strengthen the coherence of the "Morocco Region" Group.
TBU in Zlín, Faculty of Management and Economics 42
The new organizational model is based on guiding principles based on clear end-to-end levels
of delegation for each of the bank's activities, obligations to achieve results and transparency
in the exercise of delegations, enhanced cooperation between entities, and faster and more fluid
decision-making and arbitration. In practice, SGMB is now organised around: (Document de
reference au titre de l’exercice 202)
 A Management Board: ensuring collegial steering of the strategy of Société Générale
Maroc, comprising 4 members: the Chairman of the Management Board and 3 General
Managers.
 10 Services Units acting as central channels and playing a normative, control and
pooling role throughout the region (bank and subsidiaries.
 8 Business Units are responsible for the perimeter of their activity in a transversal way,
they intervene as much at the level of decisions and commercial activity (development
of GNP and goodwill, control of the cost of risk) as at the level of day-to-day execution
(quality of operations, customer satisfaction, etc.)
 5 Regional Delegations, whose role has been strengthened for more rapid decisionmaking
and local relevance. The regional axis is thus affirmed, by giving more
autonomy to the Regional Delegations
As of September 2020, the simplified functional organisation chart of Société Générale Maroc
is as follows (Sgmaroc.com):
TBU in Zlín, Faculty of Management and Economics 43
Figure 7. Organizational chart of SGMB (sgmaroc.com)
The organizational structure of the chosen bank’s branch is Hierarchical and is illustrated
below:
TBU in Zlín, Faculty of Management and Economics 44
Figure 8. Organizational structure of the selected Branch (own Processing)
The most popular model among the others is the hierarchical organizational structure. The
chain of command is depicted from top to bottom, with the top representing the member with
the most authority and the bottom representing entry-level employees.
The main advantages of hierarchical organizational structures are (Robbins et al. (2017)):
 It identifies who is permitted to make certain decisions and complete tasks.
 The employees are inspired to move up the corporate ladder by the depiction of the
career path gradually reaching the top.
 Direct transmission of instructions from top to bottom ensures clarity.
The main disadvantages of hierarchical organizational structures are (Robbins et al. (2017)):
 The decision-making process may be slowed by excessive bureaucracy.
 As all employees have managers above them, it can make lower-level workers feel less
accountable for the success of the business.
The studied branch is located in Agadir City, Choosing this branch particularly for my research
was based on a number of factors, including proximity, accessibility, and personal experience.
For me, the branch has relatively easy access to relevant data and information through my
personal connections and prior experience. However, selecting this specific bank branch allows
TBU in Zlín, Faculty of Management and Economics 45
me to gain a deeper understanding of its characteristics and practices which subsequently will
lead to having a clear vision of how to address this research problem considering that all
branches have the same structures and the same operations.
5.3. PESTEL Analysis
PESTEL Analysis is a strategic management tool that aids in improved
decision-making for managers and strategists. Political, Social, Economic, Technical,
Environmental, and Legal (PESTEL) factors are those that have an impact on the entire
environment in which a company operates.
Société Générale Maroc operates in a dynamic environment where it is
impacted by numerous factors such as governmental decisions, general social trends,
technological advancements, an expanding regulatory framework for environmental factors,
consumer spending patterns, a rise in consumer environmental activism, and a constantly
shifting legal system.
Political factors:
The Central Bank of Morocco, which is governed by the Moroccan government, oversees the
financial industry in Morocco. (Bank Al-Maghrib). Government policymaking is crucial in
determining rules for loans, interest rates, and foreign investment in the financial sector.
(Morocco - Financial Systems (export.gov))
Government-owned banks in Morocco, such as Banque Centrale Populaire and Banque
Marocaine du Commerce Extérieur, have a substantial impact on the nation's banking system
and frequently adopt policies that support the goals of the executive department. (Country
Report Morocco, Economist Intelligence Unit, May 2021). The Central Bank (Bank AlMaghrib)
and the Moroccan Securities and Exchange Commission (Autorité Marocaine du
Marché des Capitaux) are two bodies established by the Moroccan government to oversee the
banking sector. The Moroccan government is responsible for setting industry rules and
standards (Morocco - Financial Sector Overview, export.gov). The operations and profitability
of a country's banks can be greatly influenced by government policies and regulations (World
Bank). With a constitutional monarchy and a multi-party-political structure, Morocco is a
generally secure nation. However, political unrest can have an impact on the financial industry,
particularly if it causes economic turbulence and a decline in trust in governmental initiatives.
(World bank)
TBU in Zlín, Faculty of Management and Economics 46
Economic Factors:
Inflation rate: From 2008 to 2023, Morocco's inflation rate averaged 1.72 percent, reaching an
all-time peak of 10.1 percent in February 2023 (Trading Economics) as a result of the Ukraine
conflict and other geopolitical unrest. Cost increases for food and electricity were major factors
in this increase. (Trading Economics).
The Moroccan government has implemented a number of measures to combat inflation,
including maintaining a stable exchange rate, reducing subsidies on necessities, and promoting
investment in farmland to increase food supply. The government works closely with the central
bank (Bank Al-Maghrib) to reduce inflation using monetary policy tools like adjusting interest
rates and deposit requirements (World Bank).
Minimum wage: The minimum wage is set by the government and is then frequently altered.
The minimum salary in Morocco is 3 000 MADs ($310) per month for state employees, 2
570.86 MAD ($265) per month for private sector employees, and 69.73 MAD ($7) per day for
agricultural laborers. (Federal Minimum Wage). The purpose of this increase was to improve
working circumstances and tackle poverty. Some labor organizations claimed that the increase
was insufficient and did not keep up with the rising expense of living. (Reuters. 2019). Business
leaders lobbied the government, warning that the increase would increase wage costs and
reduce viability (Reuters. 2019).
Morocco's economy has lately experienced moderate development, and in 2021, its expected
GDP growth rate is 7.9%. (World Bank national accounts data).
Morocco has a number of economic difficulties, including a high unemployment rate and
wealth disparity. The country's unemployment rate was 11.8% in 2022, according to Trading
Economics, but this figure is significantly greater for young people and those with less
schooling. Income disparity is a significant issue in Morocco as well, where 4.8 million people
live in destitution (High Commission for Planning, Morocco).
Social factors:
Attitudes towards product and service quality: The quality of the financial services and goods
offered is highly valued by Moroccans in general, and they have high expectations for
professionalism, efficiency, and openness.
TBU in Zlín, Faculty of Management and Economics 47
Education level: The educational structure in Morocco is improving. Approximately 76% of
Moroccans were literate as of 2021, according to the UNESCO Institute for Statistics. In
addition, there are notable variations in scholastic attainment based on factors like sexual
orientation, place of residence, and socioeconomic status. It is becoming increasingly clear that
these problems must be addressed if Morocco is to advance more equal access to education.
These differences could have an impact on societal and economic results.
Customers preferences (In financial sectors particurarily): The use of technology in Morocco
is growing, and customers expect to be able to manage their assets online. smartphone banking
software, smartphone payments, and online banking services are all included in this.
Additionally, Moroccan customers place a high value on specialized support and direction.
Many customers decide to work with businesses that offer specialized financial advice and
assistance to help them make decisions.
Technological factors:
Innovation and technological development: Morocco emphasizes technology development and
invention as the primary drivers of its economic success. To achieve this, Morocco has made
many efforts, including the establishment of innovation hubs such as the Moroccan Sustainable
Energy Agency (MASEN), R&D initiatives, and partnerships with private companies and
universities to encourage invention. A National Innovation Strategy has been developed by
Morocco to promote innovation and technological development across a range of sectors,
including energy, healthcare, agriculture.....etc. The plan details steps to support
entrepreneurship, foster an atmosphere that fosters innovation, and increase funding for R&D
in order to accomplish these objectives. (Chakib, S. 2019)
Automation: The government of Morocco has implemented a number of initiatives to support
mechanization as a crucial tactic for increasing output and competitiveness (Moroccan Agency
for Digital Development (ADD)). Utilizing automation technologies has financial advantages
for companies, and it also allows for the development of specialty training programs for
employees. Businesses have already begun to adhere to automation, with some using robots
and other cutting-edge technology to increase the efficiency of their manufacturing processes
and reduce expenses. However, there is still a big difference in the use of automation between
large businesses and smaller ones occasionally missing the funding or technical know-how to
apply these technologies. (Oxford Business Group, 2022)
TBU in Zlín, Faculty of Management and Economics 48
Environmental factors
Morocco has enacted environmental laws to urge financial companies to take environmental
aspects into account when making investment decisions. According to a 2016 circular issued
by the Moroccan Central Bank, banks and financial organizations must include environmental
and societal risks in their risk management systems. The directive must be followed by all
Moroccan banks and financial institutions, including those with foreign control (Bank AlMaghrib,
2016).
Elalahy, R., and Lahlou (2020) published suggestions from the Moroccan Capital Market
Authority (Autorité Marocaine du Marché des Capitaux) for companies listed on the
Casablanca Stock Exchange to adhere to when reporting on environmental, social, and
governance (ESG) problems. Companies are expected to provide information about their
practices and policies, as well as their environmental, societal, and regulatory structures. A
number of initiatives have also been launched by the Moroccan government to encourage the
financing of green technologies and projects (Fakhoury, I. 2021). The Moroccan Ministry of
Energy, Mines, and Sustainable Development established a Green Fund in 2017 to fund green
energy projects and support the transition to a low-carbon economy. A tax on energy use
provides funding for the fund, which supports green projects through scholarships, loans, and
other forms of financial aid (Fakhoury, I. (2021)).
Legal factors:
Antimonopoly fair: Antitrust regulations designed to encourage competition and penalize anticompetitive
activity. The Law on the Freedom of Prices and Competition, which was
introduced in 2000 and revised in 2014, is the primary piece of law controlling competition in
Morocco (Law on the Freedom of Prices and Competition 2014). The legislation offers a legal
foundation for competition and controls actions like cartels, mergers and acquisitions, abuse of
dominance, and price fixing.
The legislation also created the Competition Council (Conseil de la Concurrence), a freestanding
organization tasked with upholding Moroccan competition law. The council has the
power to investigate anti-competitive behavior, issue fines and restraining orders, and order
companies to behave differently. Additionally, Morocco has signed a number of regional and
global accords that promote competition, including the UNCTAD Agreement on TradeRelated
Aspects of Intellectual Property Rights and the Arab League Competition Agreement
(United Nations Conference on Trade and Development. (2021)).
TBU in Zlín, Faculty of Management and Economics 49
Consumer law: Consumer rights and ethical business conduct are protected by laws that
safeguard consumers. The Consumer Protection Law, which was introduced in 2000 and
revised in 2014 (Ministry of Justice), is the primary piece of law governing consumer
protection in Morocco. The code creates a foundation for legal consumer protection and
controls actions including deceptive advertising, unfair business ties, and product safety.
The National Authority for Consumer Protection (Autorité Nationale de la Protection des
Consommateurs), an independent entity charged with implementing Moroccan consumer
protection legislation, was also formed under the code (The Global Legal Group. (2021).).
Other international agreements, such as the African Charter on Consumer Rights and Welfare
and the United Nations Guidelines for Consumer Protection, have also been signed by Morocco
with the goal of enhancing consumer protection (United Nations. (2016)).
5.4. ANALYTICAL METHODS
5.4.1. Research Type
To conduct the field phase of a research project, two main types of studies are available to the
researcher: qualitative and quantitative studies. The following table summarises the main
characteristics of these two types of study:
Table 2: Comparison of qualitative and quantitative methods (Source: Malhotra et al. 2012)
My research is descriptive. The research is descriptive in the sense that I seek to know the
relationship between CRM in bank marketing and customer loyalty. Given these objectives, I
opt for the quantitative study.
TBU in Zlín, Faculty of Management and Economics 50
5.4.2. Questionnaire Survey
There were 15 questions in total, grouped into multiple parts as shown in the following:
Table 3: Questionaire Questions (Own Processing)
Question Nr Outcomes
1-4
Discovered the basic characteristics of the
respondent and the organization.
5-11
Looked at the respondents' feelings towards
the Bank’s Communication with them.
12-13
To understand the effectiveness of the main
marketing channels of the bank.
14-15
The last questions answers if the target group
is satisfied with the current communication
and offers from SGMB
5.4.3. Data Collection Process
The study is carried out through interviews with the Client Manager of the chosen bank’s
branch, as well as the distribution of questionnaires to the bank's customers to get an idea of
the relationship between CRM in bank marketing and customer loyalty.
I used two measuring instruments, A questionnaire (see Appendix I) and an interview guide
(see Appendix II) to gather more information from SGMB management and thus from the
bank's customers.
There are several forms of questionnaire (Morling, B. (2017)):
 Computer questionnaire.
 Telephone questionnaire.
 In-House questionnaire.
 Mail questionnaire.
The questionnaire forms adopted in this thesis are Computer (online) and In-House
questionnaires (Bank branch). The information was gathered between 19 December 2022 and
17 March 2023.
TBU in Zlín, Faculty of Management and Economics 51
In the context of analyzing the bank's marketing strategies, the questionnaire is designed to
collect information from customers about their experience with the bank's marketing
communication, as well as segmentation criteria such as age, gender, and occupation. The
second part of the survey is an interview with the branch manager. The interview questions
were designed to obtain first-hand information and insights about the operations, ERP,
strategies, and challenges of the bank from the key figure of the branch which is the client
manager. As support for my analysis, secondary data extracted from the bank’s archives were
also used.
5.4.4. Limitations
In conducting the survey, I faced challenges in obtaining the expected sample size. The primary
reason for this was that people in Morocco are not frequent users of emails, which made it
difficult to reach them through this channel so my only reliable source of respondents was an
in-house questionnaire, which further limited the scope of my survey. 94 responses were
collected and processed manually using Excel.
5.5. ANALYSIS
5.5.1. Characteristic of the examined sample
The target group consists of 95 respondents and out of those respondents the amount of male
respondents was a 48 % and female respondents were 52%.
TBU in Zlín, Faculty of Management and Economics 52
Figure 9. Customer Gender Structure, % (Own Processing)
Consumer age ranges from 18 to 50 years old and older. The majority of clients are between
18 and 50 years old. There are two significant parts of customers age less than 30 years old and
31-50 years olds with a share of 66 % and 28%.
Figure 10. Customer Age Structure, % (Own Processing)
We note that our sample is heterogeneous, consisting of 52.1% of employees, 35.1 % of
students, and 11.7% of self-employed people.
TBU in Zlín, Faculty of Management and Economics 53
Figure 11.Customers‘ Occupation, % (Own Processing)
5.6. Results of quantitative research from a questionnaire survey
Next step of the analysis of the SGMB business operation is examination of its
Communication efficiency and its personnel reliability in providing high quality services.
Figure 12. Continuous Contact with SGMB % (Own Processing)
Respondents were asked if the bank has established permanent contact with them and
According to the results, it can be seen that 20 % of the respondents never had permanent
contact with the SGMB. While more than 37% are often in contact with their bank. However,
20% is still considered a very important share of abandoned customers that need to be
addressed.
TBU in Zlín, Faculty of Management and Economics 54
Figure 13. Confidence % In SGMB Personnel (Own Processing)
The trust of the customers in the advice and proposals of the staff of SGMB is a very important
element in CRM. According to the survey, more than 49% of the respondents have this trust in
the staff while more than 30% of them don’t.
In addition, according to the gathered data a question regarding what customers appreciate most
about SGMB was asked and more than 71% of respondents stated that they appreciate the
professional side, 16.5 % both relational and professional while 11.8% only the relational side
of their interactions with the bank.
Figure 14. Customers' Preference (Own Processing)
One of the questions is about rating the relationship with the staff of the bank. The results were
45 % confirmed that they have a good relationship with the staff, 17% Excellent, 35% not bad
while only a few people (3%) had a bad relationship with the staff.
TBU in Zlín, Faculty of Management and Economics 55
Figure 15. Relationship Rating with bank's staff (Own Processing)
Respondents were asked about their satisfaction degree with the personalized follow-up of their
cases/queries. Half of the answers were a normal degree of satisfaction while the second biggest
portion, 21.5% is from dissatisfied customers.
Figure 16. Satisfaction level with the personalized follow-up Customers queries (Own Processing)
The next question was elaborated to detect if a deficiency exists in the bank’s operations,
Therefore I asked the respondents if they have complained about something to the bank before
and if yes, what is their satisfaction level with the way their complaints were handled. I noticed
that most respondents, 62.8%, have complained about something before and 43.1 % of those
respondents aren’t satisfied with the way their complaints were interpreted.
TBU in Zlín, Faculty of Management and Economics 56
Figure 17. % of Customers who complained about something to SGMB before (Own Processing)
Figure 18. Satisfaction % of the way complaints are handled (Own Processing)
Moreover, we asked our respondents to indicate their level of satisfaction with the products
and services offered by SGMB and the results are shown below.
TBU in Zlín, Faculty of Management and Economics 57
Figure 19. Satisfaction Level with the services offered (Own Processing)
To analyse the initiatives of the bank to retain their customers the following question is asked:
Since you opened your account, has the bank offered you products or services adapted to your
needs. The product packs offered by SGMB is among the products that took more customer
satisfaction rate, Only 37% are satisfied, and more than 60% are dissatisfied.
Figure 20. Does the bank Make or propose Personalized offers (Own Processing)
The main communication tool is the mobile app. The respondents were asked about their
opinion if the mobile application of SGMB Bank is considered for them to be an effective tool
to personalize their relationship with customers. More than 72% confirmed that the application
fulfills its duty while 28% think not.
TBU in Zlín, Faculty of Management and Economics 58
Figure 21. Effectiveness Of SGMB Mobile App (Own Processing)
The final questions reveal that the majority of respondents believe that other competitors' offers
are more compelling. The figure below shows the results.
Figure 22. Customers‘ perception of other competitors‘ offers (Own Processing)
A summary of the aforementioned data reveals that a sizable portion of the bank's clients is
employed, individuals. However, the most crucial survey questions, such as how customers of
Societe Generale Bank view their bank's marketing initiatives in comparison to competitors,
showed that more than 74% of those polled admitted to being tempted by rival offers, which
leaves a huge room for improvement in terms of safeguarding their clientele. When asked if
receiving customized offers that met their needs made them feel satisfied, 63% of respondents
said no, mostly citing the lack of associated expenses. Numerous areas for the chosen bank's
development were identified by the survey and will be addressed in the creation of this thesis‘s
project in the sections that follow.
TBU in Zlín, Faculty of Management and Economics 59
5.7. Results of qualitative research based on interview with manager.
I have contacted the SGMB client manager in order to complete the interview guide (Appendix 2) whose
main results are:
In a vision of improving the quality of its services, SGMB felt the need to implement a CRM
(Customer Relationship Management) strategy which is, according to the person in charge, mainly the
implementation of means allowing the exchange and the sharing with the customers to create a durable
relationship.
SGMB uses CRM tools such as digital channels and Delta Sales CRM. The objectives of the
CRM system within the chosen bank are mainly, the improvement of the productivity of the salesmen
and the increase of customer profitability.
CRM tools make it possible to analyze customer expectations in order to propose a relevant
offer at the right time, as well as to quickly evaluate the value of the customer in order to adapt to the
commercial effort. The added value that CRM provides to the Marketing/Sales function is first the
analysis of expectations, the formalization of the adapted strategy, and the implementation of a loyalty
program.
The bank supports the sales staff during the implementation of the CRM strategy by setting up
an ACM (Adoption of Change Management) team, as the implementation of the CRM system has met
with reluctance on the part of the sales staff, such as the problem of resistance to change. Ongoing and
occasional monitoring is done to assess the commitment of the staff to the implementation of the CRM
strategy. An improvement in the productivity of the sales staff has been felt thanks to the use of CRM
tools.
5.8. Discussion
We can deduct from the results of our study that SGMB is among the leading banks in the
Moroccan banking market, which gives great importance to its customer relationship management
(CRM) in order to retain its customers.
In a vision of improving the quality of its services, the SGMB uses several CRM tools that
allow it to analyze customer expectations and meet their expectations. But despite this vision, the
questionnaire distributed to the bank’s customers shows the existence of several shortcomings of the
chosen bank’s CRM that require intervention to satisfy their customers.
The implementation of the CRM strategy is ensured by the bank's sales staff, hence the need
to train them to improve their productivity and strengthen their relationships with customers.
TBU in Zlín, Faculty of Management and Economics 60
5.9. SWOT analysis
Any marketing strategy must include the SWOT analysis, especially in the business
development strategy stage. It may assist in drawing operational marketing decisions from
strategic analyses This analysis is a strategic method for analyzing the development of the bank
as a whole. In this thesis, the main tasks of this SWOT are: to determine the strengths and
weaknesses of the chosen bank, as well as threats and opportunities Dufour (2021). Moreover,
elaborate a set of measures to reinforce the strengths and mitigate threats. SWOT analysis of
the SGMB is presented in the below:
Table 4: SWOT Analysis (Own Processing)
Strengths Weaknesses
1. Leading position in the Moroccan
financial services market (Top 4)(
Statista 2021)
2. Improved cost management
3. Motivational programs for employees
4. Increased profitability of online banking
and financial services offerings
5. Premium Bank
6. Strong Reputation
1. High Fees
2. Poor administrative system (Prevents
smoothness of administrative queries)
3. Low Number of bank branches (407
comparing to 1457 for “ crédit populaire
du maroc).statista 2020
4. Low Market share
5. Limited Range of products & services
Opportunities Threats
1. Rapid advancements and inventions in
technology
2. Local Partnership and Collaboration
3. Increasing the number of services offered
to draw in more clients
4. Increase in the level of service
1. Very tough competition
2. Lack of High skilled human resources
3. Urban markets are saturated, while rural
markets are stagnant.
4. Volatolity of the credit market
According to the analysis of the data in the table the following threats, opportunities,
strenghts and weaknesses are identified: the main threat to SGMB is stiff competition in the
market and market saturation. The main opportunity is the Possibility of taking advantage to
be a leader in adopting and deploying technologie to customer-oritnted direction to maintain
TBU in Zlín, Faculty of Management and Economics 61
and expand as much as possible as well as creating alliances with local competitors to boost
the market share of both parties(win win alliance).
The main strengths are the well-formed reputation of the bank, stable position on the
market (top 4). The main weaknesses are High fees (bookeeping, transfers....etc) and Poor
administrative infrastructure (e.g: changing your headbranch where you have created your
account first day takes longer time than it should be).
The next step is to plan potential actions to improve the bank's weaknesses while enhancing its
current strengths.
Table 5: Measures for strengthening of the position of SGMB (Own Processing))
Strenghts
Measures for
improving main
Strenghts
Weaknesses
Measures for
addressing the
major
Weaknesses
1. Leading position
in the Moroccan
financial services
market (Top 4)
2. Strong
Reputation.
3. Motivational
programs for
employees.
4. Increased
profitability of
online banking
and financial
services
offerings
1. SGMB should
bring global
processes and
execution
expertise to
moroccan local
market
2. Deploy it in
attracting more
premium
customers
3. Targeting very
skilled talents to be
the center of the
compony.
4. Deploy innovative
advertising
methods.
1. High Fees
2. Low Number of
bank branches
(407 comparing
to 1457 for “
crédit populaire
du maroc).statista
2020
3. Low Market share
1. Decrease unit
margin and and
expand the
range of
services and
product to
compensate the
initialreduction
of margins.
2. Invest in the
infrastructure.
3. Targeting new
segments on
the market
TBU in Zlín, Faculty of Management and Economics 62
Analyzing the bank's threats and possibilities is the next phase in the SWOT analysis.
By putting the suggested steps into practice, it is vital to strengthen weaknesses, handle threats,
and take advantage of opportunities. The table below presents all of the data.
Table 6. Threats and Opportunities, Together with Steps to address or Improve Them (Own Processing)
Threats
Measures for
addressing the
Threats
Opportunities
Measures for
enhancing The
Opportunities
1. Fierce
Competition
2. Lack of high
skilled human
resources
3. Urban markets
are saturated,
while rural
markets are
stagnant.
4. Volatolity of the
credit market.
1. constant
observation of
the competitive
environment,
adaptable
reaction to
shifting
competitive
situations
2. Concentrate on
non-technical
training, Credit
transfers, purpose
restructuring, and
the creation of a
university
dedicated to skill
development.
3. Observing new
trends that
emerge in the
industry.
4. Risk-based
pricing, limiting
1. Rapid
advancements
and inventions
in technology
2. Local
Partnership
and
Collaboration
3. Increasing the
number of
services
offered to draw
in more clients
4. Improvement
in service
quality.
1. Be the first to
adopt the latest
technologies
To maintain a
competitive
edge, increase
productivity,
improve the
customer
experience,
and save
operating
expenses.
2. The local
players have
local expertise
and SGMB has
international.
Alliances can
provide
opportunities
of growth.
3. Investing in
R&D to
Develop
TBU in Zlín, Faculty of Management and Economics 63
sectoral
exposure.
new range of
services and
products to
attract all
market
segements to
increase the
revenues.
4. providing
individualized
solutions and
making sure
that
communication
is prompt and
effective.
5.10. Porter’s five forces analysis
The competitive environment of a corporation will be examined using Porter's five forces
analysis. It will assist us in recognizing and comprehending the factors affecting competition
within a certain industry.
We can identify the strengths and weaknesses of the competitor's position using Porter's five
forces analysis.
TBU in Zlín, Faculty of Management and Economics 64
Figure 23. Porter’s Five Forces Model. Source: Porter, 1979
Bargaining Power of Buyers:
In the banking sector, customers have a mediocre amount of negotiating leverage. The primary
reason for this is market output. Customers in the banking and financial services industry have
minimal switching costs. In order to keep and retain them, SGMB must give them the best
financial services possible. Also, as corporate clients are the bank's most significant clients,
they must be treated with extreme caution. Moreover, Customers favor receiving high-quality
services at competitive pricing. To gain a large share of the market, the bank must grow its
client base. Each customer should have many options from the bank (Mirgule, 2015).
Threats of New Entrants:
Threats for new entrants are high in the financial and banking industry. Investment of large
funds and resources is needed to enter this sector. The services in the financial industry are not
very much differentiated, hence new entrants have to develop the brand name and also have to
compete with the existing competitors in the market (Hopkins, 2018). However, the financial
sector has many tight norms and guidelines that new entrants must adhere to. High initial
startup costs are involved. To offer the highest quality services, new entrants must build an
efficient supply chain and distribution network.
Threats from the Substitute Products/services:
In the banking and financial sectors, substitute products/services pose significant risks. The
main causes of these include domestic and foreign competitors. For the most part, there are no
alternatives available to the banking sector for withdrawals and deposits. It is vital for SGMB
TBU in Zlín, Faculty of Management and Economics 65
to face less risk from loans and payments since non-financial entities, such as insurance and
mortgage companies, are joining the market. For the bank to be able to adapt to the shifting
consumer tastes, it also needs to have an effective network and a wide distribution channel.
Rivalry Among existing competitors:
The main competitors of SGMB are Attijariwafa Bank, Banque Centrale Populaire and Bank
of Africa - BMCE Group, their competition is fierce. To keep its top spot in the market, the
bank should grow its client base. In order to keep customers, the bank must offer unique
services, and it must also increase its investment in R&D to draw in new ones.
5.11. Marketing Mix of SGMB
The Société Générale Maroc's marketing mix enables and supports the company in achieving
its marketing goals, influencing the target market favorably, marketing its goods and services,
and engaging in activities for brand building. The 4P model of marketing, which consists of
elements of the product, price, promotion, and place, (Jerome McCarthy, 1960) will serve as
the analyzing tool for SGMB's marketing mix:
Service: The service offered by SGMB are financial products such as loans, saving accounts,
credit cards, mortgages, auto loans, insurances…. etc., and a variety of services such as
personal, investment, and business banking. The range of the products is less than the
competitors.
Price: Société Générale Maroc makes sure that its services are fulfilling people's needs. Thus,
they focus first on customer satisfaction before turning their attention to service prices. We
discover that they are expensive. However, the services they offer are of top quality and are
effective. They are good at making the services worthwhile and think that the services should
be worth the price.
Place: SGMB broke the global barriers. It started in France and now operating in 68 countries.
In Morocco, it has 407 branches, 514 ATMs, and 18 self-service Kiosks as well as Online
banking that provide customers easy access to their accounts (Société Générale Maroc
Institutional Brochure 2021).
Promotion: The chosen bank promotes itself rigorously as they believe that it should promote
itself to reach the customer base. They have a promotion through word of mouth. However,
that is only a result of the services they are offering. High-quality services are provided. In
TBU in Zlín, Faculty of Management and Economics 66
order to advertise itself, Société Générale engages in social and cultural activities, event
sponsorships, and digital marketing (Société Générale Maroc Institutional Brochure 2021).
Overall, SGMB is a premium bank that focuses on providing premium services and products
rather than reducing the costs and prices for the end customers.
5.12. Benchmarking
According to the American Productivity and Quality Center (APQC), Benchmarking is the
process of discovering, analyzing, and applying exceptional practices and processes from
organizations anywhere in the world by defining key activities/processes where changes result
in the greatest benefits. It is essential to create a benchmarking of direct competitors, who
provide similar services and/or have a similar position to my chosen bank. Its creation is crucial
since it takes into account the weaknesses of the competitors and market viability. Since our
chosen bank is the 4th top bank in Morocco, I will consider comparing it to the other top 3
banks.
The data for the analysis were obtained from open sources - the official websites and brochures
of the banks on the Internet, Statista, FitchRating....etc. The benchmarking variables are rated
on a scale of 1 to 4, with 1 representing the worst and 4 representing the best. The assessment
of the competitiveness of SGMB and its competitors is presented in the table below:
Table 7. Benchmarking (Own Processing)
SGMB Attijariwafa bank Bank of Africa Banque Populaire
Quality of Products
&services Service
4 4 4 4
Brand Recognition 3 2 4 1
Range of products
& services
3 3 4 3
Level of Prices 1 1 3 4
Accessibility
(branches)
2 3 1 4
Website 4 4 4 4
Market share 1 3 2 4
Assessement 2.6 2.9 3.1 3.4
Scale: 1- Weak 2- Neutral 3- good 4- Best
TBU in Zlín, Faculty of Management and Economics 67
The weakest points according to the presented variables are High fees and physical
accessibility.
The best-assessed competitor is Banque Populaire regardless of the fact that it is owned by the
Moroccan government, and they frequently have policies that are in line with the goals of the
executive branch they are the best in terms of their fees and their branches can be easily found
and accessed (According to Statista 1451 branch). The strongest brand among the 4 banks is
Bank of Africa followed by SGMB due to its strong reputation and international expertise they
have.
The SGMB's competitive advantage can be achieved by offering its customer different and
innovative products and services which differ and distinguish them from competitors
(Technological advancements to be invested in and implemented) and investing in physical
branches to make it easy for customers to reach them as well as managing their costs to reduce
their fees at least to be aligned with the other players. Moreover, they should consider
collaborating with other domestic players, especially “Banque Populaire” to take advantage of
the government policies in their favor.
Based on all the found results of the analysis, it can be concluded that SGMB possesses
sufficient forces to enhance opportunities and overcome threats and lagging factors.
TBU in Zlín, Faculty of Management and Economics 68
III. PROJECT PART
TBU in Zlín, Faculty of Management and Economics 69
6. MARKETING COMMUNICATION STRATEGY PROPOSAL
Analysis of the internal and external factors of SGMB revealed the following weak points:
Lack of Client follow-up, Poor management of customer complaints, High fees, Narrow range
of products and services, Unattractive programs, and others. Thus, the main strategy should be
directed at solving or mitigating the problems mentioned earlier. The opportunities lay in
Overcoming the weaknesses and taking advantage of strengths. The focus should also consider
hiring and training highly skilled and qualified personnel and innovative and resource-saving
technologies.
Although, as it was mentioned before, SGMB must strengthen its competitive position in the
Moroccan market and devote all of its resources to climb the ranking of best Moroccan banks.
As a result of the previous analysis of the collected feedback from the bank’s customers and
conducted research, the main priority directions of the company were determined :
 Innovative tech-based solutions technologies.
 Improve CRM software.
 Expand the range of the goods and services
 More adoption of technological software
 Focusing on providing high-level service and the best customer experience.
The goal of Our study is to help SGMB to expand its client base (currently around 800,000
customers) as well as take leadership of the Moroccan financial and services market.
6.1. Action plan I : Improving Customer relationship
Many weaknesses regarding the relationship between SGMB communication and its customers
were detected and identified. the success of an institution can’t be discussed if there isn’t
smooth communication and absolute trust. In light of this, the addressing measures for the
detected flaws are discussed below:
Follow-up through ongoing customer contact: by staying in touch with customers, stronger
relationships with them will be built and their loyalty will be guaranteed. As a result, there may
be an increase in each customer's lifetime value, recurring engagement, good feedback, and
referrals. The use of all available and possible communication channels such as E-mail, SMS,
Phone calls..etc is imperative with an emphasis on the frequency which should be at least one
TBU in Zlín, Faculty of Management and Economics 70
routine communication per month. Also, hunting every chance and opportunity to stay in like
congratulating them on a national event, greeting religious ones....etc.
Management of customer complaints: This includes responding to and keeping customers
posted on the status of their complaints. This is complex to achieve due to the size of the client
base and SGMB as a whole. The technological solution should be presented to speed up the
process. Adopting third-party software to keep track of complaints, rapidly address them, and
gain knowledge to enhance customer experience is the ideal proposed solution.
Tailored offers: Ensure that the products and services offered are in line with customer
expectations, i.e., SGMB must clearly identify the needs of its clientele through market studies
carried out in the meantime in order to offer the appropriate product or service; Provide superior
value to customers by making well-targeted offers (According to Twillio 60% of respondents
will make further purchases following a tailored shopping experience).
Expand the range of products and services: Not to give a chance to competitors to tempt the
current customers. Through this expansion, customers will be given a greater choice which will
subsequently result in increasing their loyalty and attachment to the bank. SGMB should also
consider Cross seel which should be targeted in the initial conversations with the potential
buyer. For example, for a customer interested in buying a mortgage loan, cross-selling can be
triggered by offering a loan insurance package. On the other hand, Upselling is another way
in keeping the customer engaged for as long as possible. For example, offering a greater interest
rate if the deposited money is greater. However, Staff must take care not to come off as being
dishonest or motivated by anything other than the person's best interests while communicating
through these channels.
6.2. Action Plan II: Diversification of Advertising methods
SGMB focuses mainly on digitalized advertisements and is abandoning physical traditional
advertising means. EvenInthis era,someconsumersrespond bettertopapercommunicationsthandigital
messages and this is an opportunity that should be ceased and considered. Thus, to fill the advertising
gap, The following activities are advised:
Print advertising:
Because print advertising is slower and more deliberate than online advertising, it has a greater
emotional impact on readers and results in better rates of understanding and memory. This
suggests that traditional print media ads are more likely to raise brand awareness as a result.
TBU in Zlín, Faculty of Management and Economics 71
Moreover, the choice still needs to be structured and focuses mainly on Flyers and Billboards.
The first will serve as the perfect choice for Outdoor marketing which will allow the customers
to interact and say what they like and what they think should be improved and for the bank to
market its products and services and attract more potential clients. The second will serve as an
effective tool for raising brand exposure thus building brand awareness. It is imperative to place
those billboards in high-traffic areas.
Digital Signage:
Digital Signage is a digital screen that can project videos, promotional ads, digital images…etc.
I noticed when I visited the studied branch and many others within the same city the absence
of this marketing tool. Investing in it is a must as it will ensure 24h/7 marketing without
spending any extra resources. Those can also be used to regulate the inside branch operations
by projecting information regarding safety measures within the branches (e.g., Regulating the
queues…etc.).
6.3. Action plan III : Revising pricing frameworks
Decreasing costs would provide a possibility of decreasing prices imposed on customers, This
is a very critical drawback for SGMB compared to its rivals as we noticed from the
benchmarking part, My chosen bank is one of the most expensive banks in Morocco, This fact
is preventing it from gaining a competitive advantage. Management of costs that shall result in
fee prices drop will help obtain it.
The first area to look at in order to cut off costs is back office processes. Using adaptable and
reliable software to automate back-office tasks is essential for boosting the bank's productivity.
Moreover, flexible schedules can increase output and save expenses. Significant cost savings
are achieved by enabling workers to work from home. Based on conservative projections,
Global Workplace Analytics estimates that a normal U.S. company could save $11,000
annually per half-time telecommuter.
6.4. Action plan IV : Target student segment
In Morocco, around 1.3 million students were enrolled in tertiary education (Statista 2021), the
efforts to gain this market segment should be doubled because of the following:
TBU in Zlín, Faculty of Management and Economics 72
 A relatively new generation, students are just beginning to establish their financial
independence. By focusing on this market, SGMB will draw clients who will utilize its
services for many years to come.
 Although they may not have much money right now, students will in the future. SGMB
may foster loyalty and trust with this group by developing relationships with them early
on. This could encourage these clients to remain with the institution that trusted them
in their early life stages as they become older, have more financial demands, and
become wealthier.
 Students may be interested in other financial products like credit cards, loans, or savings
accounts. Thus, Action Plan I will be deployed in developing the potential to later crosssell
other goods and services by focusing on the student market today.
SGMB has many options and directions to tempt and attract this segment, The following can
be implemented:
Free Student account: A program targeted for students up to 26 years making them eligible to
have a fully free account with 24h/7 free support.
Low-Interest loans: This may seem a bit complicated because it depends on the period of
paying the loan and many other variables. However, based on what was said earlier, this is a
long-term investment. To win a long-term loyal customer it needs to be earned.
Rewards for their loyalty: To differentiate this scheme and make it unique for students, terms
of benefiting from it would be based on years spent with the bank starting from being a student
until graduation and having a job.
Transparency and clarity: No strings should be attached, as we are planning to build a very
long-term relationship with the customers, these are more likely to trust you if you do business
in a way that guarantees they have access to all of your data as well as their own. The goal is
to write terms of service that are simple to understand, easy for consumers to view costs and
pricing, and that provide them with a complete understanding of the services they are using.
6.5. Action plan V: Active Social Media Presence
The majority of us spend too much time scrolling on social media platforms, for My chosen
bank, it means an opportunity to stay in touch with existing and potential clients. From Our
analysis, it was found that SGMB is not actively present on social media (rare posts on its
Facebook page and Instagram Pages) which is supposed to be used to target specific
demographics and promote its products and services. It is primordial to improve their existence
TBU in Zlín, Faculty of Management and Economics 73
on such Platforms to assist in generating leads and raising brand recognition and awareness.
My chosen bank can improve its social media online presence by following the below:
Create a social media plan: Our bank should create a thorough social media strategy including
its objectives, target market, content topics, and desired metrics. This plan should be in line
with the bank's overall business objectives and routinely evaluated to make sure it is still
working.
Developing engaging content: SGMB must provide content that appeals to, informs, and
speaks to its audience. This may be done through podcasts, blogs, infographics, videos, and
posts on social media.
Collaborate with influencers on social media: collaboration with social media influencers that
have a sizable fan base and who support its mission and brand is a must. This will increase the
bank's credibility and help it connect with more people.
Observe feedback and react: The bank should keep a close eye on its social media platforms
and reply to client comments. This might enhance client satisfaction and boost the bank's
standing.
6.6. Acion Plan VI: Creating Customer Advisory board
Creating a customer-dedicated advisory board is a strategy to retain and attract new customers.
Establishing such a group will certainly make the SGMB stand out from the crowd.
This strategy serves as a pillar for retaining and increasing customer loyalty. Helping customers
become more financially responsible by gently addressing negative payment trends. Also,
communicate about tools to help them save more and assist genuinely with any consultations
they have. This will make SGMB a safe shelter for its customers and will activate word-ofmouth
marketing.
6.7. Action plan VII : Personnel education and professional development
In my survey, there was a question asking customers what they appreciate more between the
professional and operational side, and the majority (70%) stated that they appreciate the
professional side, This will lead us to question why not the majority appreciate both. This can
have many explanations and interpretations, either the staff aren’t trained on soft skills and on
etiquette on how to provide top service experience encouraging people to purchase frequently.
Before addressing this, we need to examine if the staff are well treated or provided with a
comfortable environment where he/she can perform at ease and with pride in belonging to the
TBU in Zlín, Faculty of Management and Economics 74
organization and if they are provided interesting reward schemes. However, if the beforementioned
applies, We can proceed with measures to improve their capabilities by providing
periodic training on relational/soft skills and mastering the customer relationship management
processes. The main objective of the training should be strengthening bonds with the customer
and achieving self-control, adaptability, and patience. On the other hand, Attracting a talented
workforce is a must to improve overall productivity and efficiency. For That, open doors days
in well-known Moroccan universities such as University Hassan II de Casablanca, Cadi Ayyad
University, Mohammed V University....etc, offering an attractive internship program,
employment opportunities, and interesting motivational vision.
Highly qualified and experienced, skilled individuals who work efficiently with a strong ability
to solve problems, multitask and handle stress efficiently will subsequently result in increasing
profitability. This comes with a price of high wage but in the counterpart, they will save costs
of training and time that will certainly be needed for unskilled workers. However, Professional
training for employees is necessary because it clarifies corporate operations and strategic
direction, reduces issues with marketing, manager inexperience, motionlessness, and
management competency.
6.8. Action plan VIII : Strategic Alliance with “BANQUE POPULAIRE”
Collaborating with a local competitor, specifically with BCP (BANQUE POPULAIRE), is a
strong recommendation for our bank. This alliance is expected to benefit SGMB considering
as stated before that BCP bank is owned by the Moroccan government and most regulations
are in its favor. Also, sharing marketing and organization expertise to gain competitive
expertise. This ally will have the following positive impact on our bank:
Increased brand exposure: Cooperating with a such competitor, SGMB’s reach will expand
which will result in Increased brand recognition and customer loyalty.
Cost savings: Cooperation can aid in lowering marketing, R&D, and development
expenditures. SGMB and its ally will save money and increase their ROI by combining their
resources.
Increased innovation: Cooperation will enhance innovation since it allows the allies to pool
their knowledge, resources, and experience. This can assist both parties in remaining
competitive and creating new goods and services that cater to their clients’ wants.
TBU in Zlín, Faculty of Management and Economics 75
Improved reputation and competitive positioning: SGMB shall show its dedication to its clients
and the community by cooperating. This may result in more people having faith in and
confidence in them both.
7. RISK AND COST ANALYSIS OF THE BUSINESS STRATEGY
The next step in developing a strategy focuses on evaluating the suggested strategic elements in light
of time, cost, and risk analysis.
7.1. Cost-Time-Risk analysis
7.1.1. Cost analysis
Cost analysis enables to identification and assesses all costs and potential revenues associated
with the proposed project, as well as its financial viability.
The proposed amounts were calculated based on an examination of market prices.
Considering that the bank is a huge organization, many suggested activities budget will be
based on the branch I have studied and the same costs can be duplicated amongst other branches
(same structure in all branches). However, other suggested activities‘ budgets (marked with a
star in the below table) can‘t be split and Thus their budget is calculated for the whole
organization.
The following table lists the major costs of the suggested strategy:
Table 8. Total planned costs for the proposed strategy (Own Processing)
Activity Costs, MAD (Moroccan Dirham)
Marketing (Social media, email..etc)* 104,000.00
Staff Training 226,800.00
Internships Programms (3 interns per
month)
7,500.00
SEO improvement* 100,000.00
Complaints departement Automation* ~ 500,000.00
Employee Reward scheme (trimestrial) 15,000.00
Work-from-home costs (One-time cost) 50,000
Total 1,003,300.00
Further, details of the marketing Budget :
TBU in Zlín, Faculty of Management and Economics 76
Table 9. Follow-up on Monthly Cost of Marketing strategy (Own Processing)
Activity Costs, MAD (Moroccan Dirham)
Influencer Collaboration (5 posts per month) 30,000.00
Blogs (1 blog per day) (Monthy) 4,000.00
Email Marketing(Monthy) 20,000.00
Content Creator(Monthy) 20,000.00
Social media Manager (Monthy) 30,000.00
Total 104,000.00
It must be mentioned that the most complicated cost part is to estimate the cost of automating
a process or a department as this is a sensitive sector, and for security reasons, prices may be
doubled compared to regular market prices.
7.1.2. Risk analysis
In the business world, It is completely impossible to avoid the risk of loss. However, the
identification of risks is a must to better manage and mitigate the losses or even prevent them
in some cases of early identification.
I have summed all possible risks related to the implementation of the proposed project with an
assessment of its probability and impact degree:
Table 10. Risk Identification (Own Processing)
Risk Probability Impact
Credit Risk Moderate High
Marketing efforts and
campaigns failure
Moderate Low
Customer dissatisfaction High Moderate
Temptations of competitors High High
risk of loss due to errors Low Moderate
High Automation budget High Low
Irresponsible Employees Low Moderate
TBU in Zlín, Faculty of Management and Economics 77
Market Risk Moderate High
Further, Mitigation measures are formed:
Table 11. Measures to address Identified risks (Own Processing)
Risk Mitigation Measures
Credit Risk
Constant contact with customers and
boosting loyalty program credits if payments
or engagements are settled on time
Marketing efforts and campaigns failure
Collaborating with reputable media outlets
and focusing on customer retention
Customer dissatisfaction
Responding to complaints and
Providing prompt, detailed responses to
questions.
Considerately reply to unfavorable internet
reviews.
Temptations of competitors
Provide the best customer service.
Enhance loyalty & Rewards schemes.
Refresh logo, signage, website, and business
cards.
Competitive Pricing.
Loss due to errors
Adopting a Balanced scorecard and providing
refreshments/entertainment rooms in the
office to release stress.
High Automation budget
Pushback low to moderate in importance
programs.
Irresponsible Employees
Lead by example and conduct private
sessions to understand the root of
recklessness as well as take serious action to
TBU in Zlín, Faculty of Management and Economics 78
stop the irresponsible behaviors (Signed
warnings....etc)
Market Risk
Extending the range of services and products
covering all possible segments.
7.1.3. Time Analysis
In the following, I will establish the fundamental stages of the proposed project This step is
crucial as It aids in estimating the duration of the project implementation.
The Gantt Chart Method is used for the time analysis in the provided thesis. This kind of
graphic is used to organize and manage a project's progress. The project's tasks and phases are
depicted on the diagram while taking into consideration their length. The execution of the
project will take 2 years in total.
TBU in Zlín, Faculty of Management and Economics 79
Figure 24. Gantt Chart (Own Creation)
TBU in Zlín, Faculty of Management and Economics 80
The Implementation of the proposed strategy is estimated to take 2 years to be fully deployed.
In this period many changes in infrastructure, processes, and Human resources will take place
to achieve a competitive advantage. The limitations would be the high budget to apply the
proposed steps and the sensitivity of the sector studied which certainly require extensive
research before selecting the service provider along with maximum security must apply. Due
to these facts, delays may happen as well as overcharges.
TBU in Zlín, Faculty of Management and Economics 81
CONCLUSION
The aim of this thesis was to elaborate a marketing communication strategy proposal for the
chosen bank In Morocco. I developed eight proposed actions to enhance the chosen bank's
marketing activity based on a thorough examination of internal and external variables,
gathering consumer feedback and other relevant data. Moreover, The project was submitted for
time, cost, and risk analysis.
The analysis revealed many untapped areas and saturated options for the customers. The main
focus is to promote the bank‘s image and reputation through effective marketing channels and
through being the most comprehensive bank in terms of packages and services offered resulting
in a greater added value to the customers and increasing customer retention and loyalty. In
addition, the key success of the abovementioned is having a highly qualified and talented staff
that is willing to promote the bank’s services through delivering the best customer experience
and unconditional initiatives to positively impact the customers.
SGMB needs to differentiate its marketing channels and not only rely on digitalization. While
other competitors have abandoned traditional physical marketing channels, SGMB should take
advantage of this fact to increase its brand exposure. Board and printing advertising are not
dead yet. In addition, Their social media presence is still behind the competitors and to address
this, it is proposed to create a dedicated team to be responsible only for social media platforms
and to promote the company and raise brand awareness. Moreover, It is strongly recommended
that many processes should be automated for time efficiency and to cut off expenses Purposes.
The proposed strategy will distinguish SGMB from its competitors, For it to achieve the
desired results, It is better to align the bank’s visions with all the staff and unify and involve
all departments to achieve the wanted results and be part of a bigger success.
TBU in Zlín, Faculty of Management and Economics 82
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TBU in Zlín, Faculty of Management and Economics 89
LIST OF ABBREVIATIONS
ACM - Adoption of Change Management
SME - Small and medium-sized enterprises
SGMB - Société Générale Marocaine de Banques
ROI - Return on investment.
BCP - le Groupe Banque Populaire
MAD - Moroccan Dirham (Dirham marocain)
MASEN - Moroccan Agency for Sustainable Energy
ADD - Moroccan Agency for Digital Development
ESG - Environmental, social, and governance
TRIPS : Trade-Related Aspects of Intellectual Property Rights
UNCTAD : United Nations Conference on Trade and Development
APQC - American productivity and quality center
TBU in Zlín, Faculty of Management and Economics 90
LIST OF FIGURES
Figure 1. Components of CRM (Source: Josip Mueller; Velimir Srica 2005)....................... 20
Figure 2. Integrative model of factors influencing important relationship marketing results. 26
Figure 3. Profits generated by a client over 5 years (Source: Reichheld F, Sasser) ............... 29
Figure 4. Two strategies to avoid competition (Source: Benavent Christopher) ................... 31
Figure 5. Two strategies of loyalty programs (Source: Meyer-Waarden and Benavent) ....... 32
Figure: 6. Subsidiaries of SGMB (source: sgmaroc.com).................................................... 41
Figure 7. Organizational chart of SGMB (sgmaroc.com) ..................................................... 43
Figure 8. Organizational structure of the selected Branch (own Processing) ....................... 44
Figure 9. Customer Gender Structure, % (Own Processing)................................................. 52
Figure 10. Customer Age Structure, % (Own Processing).................................................... 52
Figure 11.Customers‘ Occupation, % (Own Processing) ..................................................... 53
Figure 12. Continuous Contact with SGMB % (Own Processing)........................................ 53
Figure 13. Confidence % In SGMB Personnel (Own Processing) ........................................ 54
Figure 14. Customers' Preference (Own Processing) ........................................................... 54
Figure 15. Relationship Rating with bank's staff (Own Processing) ..................................... 55
Figure 16. Satisfaction level with the personalized follow-up Customers queries................. 55
Figure 17. % of Customers who complained about something to SGMB before .................. 56
Figure 18. Satisfaction % of the way complaints are handled (Own Processing) .................. 56
Figure 19. Satisfaction Level with the services offered (Own Processing) .......................... 57
Figure 20. Does the bank Make or propose Personalized offers (Own Processing) .............. 57
Figure 21. Effectiveness Of SGMB Mobile App (Own Processing)..................................... 58
Figure 22. Customers‘ perception of other competitors‘ offers (Own Processing)................ 58
Figure 23. Porter’s Five Forces Model (Source: Porter, 1998) ............................................ 64
Figure 24. Gantt Chart (Own Creation) ............................................................................... 79
TBU in Zlín, Faculty of Management and Economics 91
LIST OF TABLES
Table 1: Advantages and drawbacks of relationship marketing ............................................ 38
Table 2: Comparison of qualitative and quantitative methods.............................................. 49
Table 3: Questionaire Questions (Own Processing) ............................................................. 50
Table 4: SWOT Analysis (Own Processing)........................................................................ 60
Table 5: Measures for strengthening of the position of SGMB (Own Processing))............... 61
Table 6. Threats and Opportunities, Together with Steps to address or Improve Them ........ 62
Table 7. Benchmarking (Own Processing)........................................................................... 66
Table 8. Total planned costs for the proposed strategy (Own Processing) ............................ 75
Table 9. Follow-up on Monthly Cost of Marketing strategy (Own Processing).................... 76
Table 10. Risk Identification (Own Processing)................................................................... 76
Table 11. Measures to address Identified risks (Own Processing) ........................................ 77
TBU in Zlín, Faculty of Management and Economics 92
APPENDICES
Appendix P I: Questionnaire
Appendix P II: Interview questions
TBU in Zlín, Faculty of Management and Economics 93
Appendix P I: Questionnaire
Q1. What is your sex?
 Male
 Female
Q2. What is your Occupation?
 Liberal activity
 Student
 Employee
 Other
Q3. What age group do you belong to?
 18 - 30 y. o.
 31 - 50 y. o.
 Over 51 y. o.
Q4. How long have you been a client of SGMB?
 Less than a year
 1 to 3 years
 4 to 5 years
 More than 5 years
Q5. Do you have permanent contact with the SGMB?
 Very often
 Often
 Rarely
 Never
Q6. Are you confident about the advice and proposals of SGMB staff?
 Always
 Often
 Rarely
 Never
Q7. What do you appreciate most about SGMB?
 The relational side
 The professional side
Q8. How would you rate your relationship with your bank’s staff?
 Excellent
 Good
 Not bad
 Poor
Q9. Are you satisfied with the personal follow-up of your queries?
 Very satisfied
 Satisfied
TBU in Zlín, Faculty of Management and Economics 94
 Normal
 Not satisfied
 Not satisfied at all
Q10. Have you already complained about something from SGMB?
 Yes
 No
Q11. If yes, were you satisfied with the way your complaints are handled?
 Very satisfied
 Satisfied
 Normal
 Not satisfied
 Not satisfied at all
Q12. Please indicate your level of satisfaction with the services offered by your bank:
 Not at all satisfied
 Neutral
 Completely satisfied
Q13. Do you think that the mobile application offered by SGMB is an effective tool for
personalizing the relationship with customers?
 Yes
 No
Q14. Since you opened your account, has the bank offered you products or services adapted to
your needs?
 Yes
 No
Q16. Do you find other competitors' offers attractive?
 Yes
 No
TBU in Zlín, Faculty of Management and Economics 95
Appendix P II: Interview questions
1. Why did the SGMB feel the need to implement a strategic CRM?
2. Can you describe your strategic CRM (Customer Relationship Management)?
3. What CRM tools do you use at the SGMB?
4. Do you have a CRM software package?
5. If so, is it expensive to implement? 6. What criteria do CRM managers use to set objectives
(number of visits to be made, reports to be written, etc.)?
7. What are the objectives of your CRM system? Have they been achieved?
8. How do you think CRM tools help to develop the relationship with the customer and
increase profitability?
9. What is the added value of CRM to the Marketing/Sales function?
10. What are the limits of your CRM system in terms of customer loyalty?
11. How did the bank support the sales staff in the implementation of the CRM strategy?
12. Has the implementation of the CRM system met with any reluctance on the part of the
sales staff? Which ones?
13. Is there ongoing and/or occasional monitoring to assess staff commitment to the
implementation of the CRM strategy?
14. Has an improvement in the productivity of sales staff been experienced as a result of the
use of CRM tools?