Relationship Banking: Meeting Sales Goals in Today's Economy - Research Proposal Example

The paper will seek to present the factors that affect relationship banking             Through analysis of existent literature, the paper will seek to show the correlation between relationship banking and increased sales. Significance The research paper when completed will be of great significance in a number of aspects: It will indicate that the implementation of an elaborate banking relationship strategy can affect customer satisfaction, increase sales and therefore attain sales goals specified by a specific financial institution.

It will also outline the benefits of developing customer relationships within the global financial industry. It will serve to indicate why well-intentioned banking relationships aimed at attaining sales goals fail Intended Audience Banks Policy Makers within the financial sector Governments Insurance Companies and Agencies Conglomerates Financial Analysts   Hypothesis It is hypothesized that Relationship banking is a sure approach towards meeting sales goals in today’s economy as it presents banks with an opportunity to cross-market and sell customers other types of financial services.

Theoretical Framework             Distinct as the practice of building on existing business relationships so as to enhance profitability for the parties involved within the financial services industry, (Perrien, Filiatrault, & Ricard, 1992), relationship banking practice is an integral part of the global financial industry. In relation to sales and marketing, it is imperative to note that financial businesses being service-oriented can hardly survive without continually evaluating their customers, the types of products they require and purchase, and the profitability of their companies in relation to their relationships.

Conclusion             Relationship banking will inevitably ensure that customers remain loyal to their banks as it serves to link bankers and clients in today’s hard economic times, (Mukherjee & Nath, 2003). Repair in customer relationships within the banking sector will ensure that sales goals are attained. The goals should however focus on customer satisfaction through relationships and not simply focus on the end results.