The High Quality Relationship With Customers - 1322 Words

Introduction Banks are competing intensely in a highly competitive environment to offer quality oriented services according to customers’ expectations. Various important parts of banking sector like operations, service quality, employee satisfaction, customer satisfaction, financing products, efficiency, financial performance are being studied by many researchers to better understand and serve the community at large (Arokiasamy, 2013). The high quality relationship with customers is the main influence of a successful service provider (Panda, 2003) â€Å"which determines customer satisfaction and loyalty† (Jones, 2002 as cited by Lymperopoulos et al., 2006). Organizational outcome such as performance superiority is primarily influenced by the service quality (Poretla Thanassoulis, 2005), â€Å"increasing sales profit† (Levesque Mc. Dougal, 1996; Kish, 2000; Duncan Elliot, 2002) and â€Å"market share† (Fisher, 2001), progressing customer relations, improving corporate image and promote customer loyalty (Newman, 2001; Caruana, 2002;). â€Å"Furthermore, service quality and customer satisfaction were found to be related to customer loyalty through repurchase intentions† (Levesque Mc. Dougall, 1996; Newman, 2001; Caruana, 2002). Banks must convey quality service to ensure success and survival in today’s competitive banking. It is logical that a satisfied customer will become at th e end†¦ a repeat purchaser and a loyal buyer for many causes. This relationship between satisfaction and buyerShow MoreRelatedCase Study Analysis of Panda Bear Toys, Caribou Toys and Grizzly Bear Toys1726 Words   |  7 Pagesand Sheppeck amp; Militello (2000),describing the relationship between corporate value disciplines and corporate strategies. Value discipline is a framework to describe organizations’ marketplace strategies, and company with different value discipline has its own business goals and culture. With reference to the information provided, the value discipline of Panda Bear, Caribou and Grizzly Bear were identified. They are Product Leadership, Customer Intimacy and Operational Excellence respectively.Read MoreMarketing Strategies Of Aldi And Waitrose1277 Words   |  6 PagesThe three core values of Aldi are simplicity, consistency and responsibility Aldi’s Marketing Mix Aldi’s mix focuses on providing high quality products that are cheaper alternatives to famous brands. 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In this regard, the customer oriented or customer-on-top business model is an effectiveRead MoreService Quality As A Core Competitive Strategy1115 Words   |  5 Pages Service quality has been increasingly recognized as a critical factor in the success of any business and banking sector in this case is not an exception .A bank customer will be loyal if they can produce greater value than their competitor (Dawes and Swailes 1999). In addition, higher profit will be earned by the banks if they can position themselves better than the competitors within a specific market (Davis at al. 1995) Therefore, banks should focus on service quality as a core competitive strategy