Sunday, 27 October 2013

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2020 Foresight: Relationship Pricing

ResearchMoz include new market research report" 2020 Foresight: Relationship Pricing: Market Size, Share, Growth, Trends And Forecast" to its huge collection of research reports.

Synopsis

The report provides top-level market analysis, information and insights on relationship pricing strategies adopted by retail banks:
It provides global snapshot of relationship pricing adopted by retail banks in developing and developed economies in the banking industry.
It analyzes relationship pricing trends and key operational opportunities for retail banks.
It gives a detailed analysis of relationship pricing models adopted by retail banks globally.

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With changes in economic fundamentals, technology, regulatory frameworks and competitive dynamics, the retail banking industry has recorded a gradual transformation in its banking business models since 1990. Following the financial crisis, banks analyzed the importance of building a profitable and long-term relationship with their customers to increase revenues and profitability. Since pricing is affected by cost pressures and changing customer expectations, banks use the opportunity to build a strong customer relationship by offering a customer-centric business models based on relationship pricing.

Banks apply different relationship pricing models including product bundling, behavior- and time-based pricing, and personalized pricing to a diverse customer base which suits their individual banking requirements and willingness to pay. Product bundling enables the single point management of packages, prices and promotional offers to customers, providing customized packages and bundles including products and services from different business lines, rather than selling one product or service at a time. NatWest in the UK offers product bundling with discounted features which has resulted in an increase in profit margins.

Banks also offer time-based pricing by providing differentiated prices for new and existing customers and categorizing these according to their long- and short-term associations with the bank. Wells Fargo offers higher interest rates in its certificate of deposits (CD) or savings account at the end of every month, enabling existing customers to earn extra interest as an incentive to save more and increase their assets with the bank over time.

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Behavior-based pricing, based on the overall purchasing behavior of customers, involves offering various promotional offers and discounts on products and services. This enhances the long-term relationship of customers, resulting in higher profit margins and revenues. Through personalized pricing, banks generate and apply customized pricing for specific customers or customer groups. The bank calculates a customers financial status and suggests a customized solution.

Scope

This report provides a comprehensive analysis of relationship pricing models adopted by retail banks
It details insights on emerging operational, technological and regulatory trends driving the adoption of relationship pricing across developed and emerging economies
It provides an overview of loyalty programs as an approach to relationship-based pricing models
It provides case studies on relationship pricing implemented by various retail banks and their outcomes

Reasons To Buy

Understand the concept of relationship pricing and its adoption across key markets worldwide
Assess the current and future opportunities of relationship pricing in the retail banking industry
Gain insights into the business models adopted by retail banks to offer relationship pricing to consumers
Gain insight into various trends driving the growth of retail banks in offering relationship pricing

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The retail banking industry’s banking channel has evolved from traditional full-service branch banking to alternate channels such as online, mobile and self-service. Full-service branches still play a key role in the distribution of banking products and services as banks rely on these branches to generate the vast majority of revenue. However, the operating expenses and infrastructural investments associated with full-service branches encourage banks to consider low-cost self-service branch banking to expand their market presence. Banks have redefined branch banking following the financial crisis in order to maintain operational efficiency and to improve overall financial performance.

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