Explanation of the commercial banking marketing strategy selection based on customer equity

Although selection of marketing strategy could be considered the most important action with regard to forming and maintaining an optimum customer mix to gain sustainable profitability for the organization, some businesses have neither true understanding of their own customer mix nor the profitability associated with them. Commercial banks are one of those businesses that have millions of customers and have made huge investments in human resources and infrastructure in order to serve them, but their business management activities are poorly customer oriented. This research is trying to benefit from grounded theory approach to provide a better understanding of the situation in which sales and marketing managers in Bank Mellat select marketing strategies. Through analyzing of data we came up with 400 initial codes which in return led to 65 concepts, 17 initial categories and ultimately 5 final categories which enabled us to explain Bank Mellat marketing selections based on their understanding of customer equity.