Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Marketing Management Expert

Case Study

In the retail banking world costs of poor quality are going up and at least some of these costs are self-inflicted. But now some banks are providing to pay cash to wronged customers for every mistake they make. Centre bank, the telephone-banking service of Bank of Scotland, is one bank which is putting its money where its mouth is. It pays at least £10 to customers if the bank makes a mistake.
‘We think we have a good level of service already,’ says the bank. ‘We aren’t saying that we want to make mistakes, but we want to show customers that we are determined to present good service.’

One of the first quality schemes of this type originated at the Colorado National Bank of Denver. It used slogan of ‘putting its money where its mouth is’ or PIMWIMI for short. Its strategy was straightforward: if ‘quality’ was actually guaranteed to customers, then the customer relationship would be strengthened. The programme had three main principles:

The responsiveness, accuracy and courtesy of the service delivery would be guaranteed Systems would be monitored for customer friendliness and front-line staff would be empowered to influence situations in which service quality could be enhanced It would be easy for customers to express their opinions of the service, in order to gain feedback on progress Customers must not wait more than three minutes in a teller line, more than five minutes in Personal Banking, Personal Finance or Customer Assistance, and they should be received in a friendly manner, greeted by name and receive next-day turnaround on enquiries and personal loan applications, while expecting no less than 100 per cent accuracy throughout. The scheme called for the bank to:

‘Give a note from the President in the form of a $5 bill, every time a customer had cause for complaint, either due to system failure or staff behaviour’.

No problem was ever too small to be considered worthy of the $5 compensation – if it merited a man or a mention of disappointment, then $5 was a small price to pay, to recover that customer’s favour. The level of payoff remained at zero, however, well into the scheme.

You are required to answer the following problems:

(a) Critically analyse the service concept of the Colorado National Bank of Denver.

(b) Critically assess the five specific dimensions of service quality identified by Parasuraman, Zeithaml and Berry (1988) to this situation.

(c) Evaluate the guarantee provided in the case study.

Marketing Management, Management Studies

  • Category:- Marketing Management
  • Reference No.:- M95396

Have any Question? 


Related Questions in Marketing Management

Resource preopening budget examplecreate a 3- to 5-year

Resource: Preopening Budget Example Create a 3- to 5-year financial plan to implement the goals and objectives created in Part II of your strategic plan. The deliverables for the financial plan include a projected budget ...

Consider what youve learned about ikea from this case study

Consider what you've learned about IKEA from this case study. IKEA must consider that its product assortment and quirky promotions may not appeal to all cultures or market segments. As a result, do you think that this co ...

Applied managerial marketingassignment objective - be able

Applied Managerial Marketing Assignment Objective - Be able to identify consumer needs and how to use marketing research as an aid to define these needs and identify markets. Assignment Details- Michelle has asked you to ...

Describe how your marketing efforts and marketing mix will

Describe how your marketing efforts and marketing mix will change with each phase in the product life cycle. Product:  Post Breakfast Smoothie Kit for Kids Need minimum of one reference that is from website source only. ...

Develop a marketing plan for a companyproduct new make sure

Develop a Marketing Plan for a company/product (new). Make sure that your plan includes the following topics: - Situation Analysis: o Market Summary (Market Segments, Market Needs, Market Trends, ..) o SWOT analysis o Co ...

Discussionbullassess the value of target marketing as an

Discussion • Assess the value of target marketing as an effective health care marketing strategy. Appraise the degree to which vertical and traditional segmentation help marketing managers use target marketing strategies ...

You need some one help me to adjust my paper so i will uo

You need some one help me to adjust my paper so i will uo date my paper ( project ) and the file like electoronic book may be help you to make correct in my paper and make sure the number is correct or not.my home work ( ...

In addition to the key words you should also be able to

In addition to the key words, you should also be able to define each of the following terms: descriptive research strategy linear relationship curvilinear relationship positive relationship negative relationship correlat ...

Discuss the ethical issues involved in advertising should

Discuss the ethical issues involved in advertising. Should advertising be regulated more or less? Is there a reasonable place to draw a line on the appropriateness of content, or the target market? Explain. Do you think ...

Fall 2016 principles of marketingextra credit

Fall 2016 Principles of MarketingExtra Credit Opportunities This assignment involves TWO components: 1. FIND and PRINT an article that discusses ONE of the concepts described below. This article MUST be timely (in the la ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro

Describe what you learned about the impact of economic

Describe what you learned about the impact of economic, social, and demographic trends affecting the US labor environmen