First State Bank offers a wide range of banking services,
including checking accounts, certificates of deposit, loans, credit
cards, and safety deposit boxes. Bank managers know that customer
satisfaction has a direct impact on the bank’s ability to retain
customers and to persuade them to add accounts.
Think of your experiences with your bank. What specific measures
might bank managers monitor to gauge customer satisfaction and to
link customer retention with account growth?
Yes, I totally agree with the statement.
Bank managers must put satisfaction of the customers over all the above.
The usually attributed factors for any customer is the bank usefulness, service charge, response time , attitude of the staff , opearation hours etc..
If the bank managers able to deliver all the above ingredients like charging lower service charges compared with the competitors , hours usually more than the standards business hours and by maintaining a healthy customer relations, banks can increase there accounts.
First State Bank offers a wide range of banking services, including checking accounts, certificates of deposit,...
A local bank offers services that national banks offer, such as savings checking accounts, loans, CDs and safety deposit boxes. To attract customers, the bank differentiates itself through its friendly personal service, local involvement with the community, and fee-free ATMs around the region. Which pricing model would be the best choice for the local bank to choose?
Rock Solid Bank and Trust (RSB&T) offers only checking accounts. Customers can write checks and use a network of automated teller machines. RSB&T earns revenue by investing the money deposited; currently, it averages 5.80 percent annually on its investments of those deposits. To compete with larger banks, RSB&T pays depositors 0.50 percent on all deposits. A recent study classified the bank’s annual operating costs into four activities. Activity Cost Driver Cost Driver Volume Using ATM Number of uses $ 2,400,000...
What are the differentiating features of banks that target ethnic communities? (Bullet point answers please). United Commercial Bank and El Banco17CASE 2.1 This telling of the story of two special banks originally was prepared by students in 2007 who were engaged by the notion of two banks that had developed separate strategies for serving two niche markets. As you first read the students’ story, ask yourself, what could have gone wrong with each bank? Also, as you read, keep a...