Impact of Poor Quality Services on Customer's Loyalty - Report

Added on - 06 Jan 2020

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Quality and Excellence
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................3TASK 2............................................................................................................................................4TASK 3............................................................................................................................................6TASK 4............................................................................................................................................8CONCLUSION...............................................................................................................................9REFERENCES..............................................................................................................................102
INTRODUCTIONProviding quality in services and Product is essential for every organization. It ismeasures performance of company against perceived exception of users. The presents report isbased on the quality services which are providing by the banks(Akter, D’Ambra, and Ray,2013). This report make analysis on impact of poor quality services on customer's loyalty andtechniques which are used by entity for measuring consumers loyalty. This report also makeanalysis on different types of initiatives that introduced by banks to fulfill their customers needs.At last, this report make critically evaluation the role of management and employees forimplementing supporting service excellence within a service based industry.TASK 1Every organization which is conduct ting its business operations have only one aim is togain maximum customer satisfaction. All the services and products which are developed by thecompany to make more customers in business so entity can ensure long term growth. Byproviding effective customers services the firm try to gain more customer loyalty (Allred andAddams, 2013). Buyers loyalty is highly effected by their services which they are getting. Ifcompany is not providing adequate services then they are not able to maintain their customers forlong term.Impact of poor service qualityIf the banks, are not generating enough quality services then their reputation may bedamaged. Today customers are give quick review on online venture if they gain badexperiences with the organization. Through this the reputation of bank can be damagedand company may loos their customers. Apart from this writing negative review on socialmedia can also leads to other customers not making any deal with firm.Quality increases profitability of banks. If customers, of the company are satisfied then ithelps to firm to generating more profits (Kern, 2014). Satisfied customers brings morebusiness in organization and also helps to company generating productivity in their work.It also leads to customers for making loyalty with banks and ensure long term businessrelations with their customers.3
Techniques for measuring customers loyaltyThere are different types of techniques which can be used by banks to measure theloyalty of customers.Net promoter indexit is the index which is used describes consumer's intentions to recommend to friends orcolleagues a company or product. Promoter is loyal buyers who recommend the brand, passivelyare satisfied consumers (Mols, 2013). With the development of social media and online ventures,the experiences of clients with a bank, or product can propagate much faster. With the help ofthis index the bank invite customers to assess the relationships with institution after concluding adeal. This evaluation take place either by telephone or via e mail. If customers recommend,banks services to other people, friends or family, it means they are satisfied with institution'sservices. On international level, NPS is regraded as the indicator of growth and profits for bank,through which banks can adopt new products or services. It also helps to bank increasesawareness and transparency along with communication.Customer feedback system :-It can be used for assessing the response given by consumers andit will aid for evaluating the response that has been given by buyers. People who comes in banksfor taking services should be given with feedback form and it will aid for taking valuablesuggestions and comments from the consumers for making improvements in existing servicesthat are provided by banks (Xu, Benbasat and Cenfetelli, 2013).Comment cards :-This method can also be used by banks so that views of customers towardsthe services provided by banks could be identified and it will support for assessing andevaluating the weak performing areas of the business. Testimonials from the clients can becollected and it will help for taking feedback from the consumers about the services that arebeing provided to them. It is critical that comment cards should be readily available for theconsumers and it will make them give their views regarding the services that have been offeredby the organization.TASK 2There are some service quality initiatives that are needs to be considered while renderingsuperior quality services to consumers. It requires a strategic approach to carry out the procedurefor rendering services to consumers. Along with this it is vital to analyze the needs and4
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