BIZ104: Customer Experience Management: Common Wealth Bank Report

This report provides a comprehensive analysis of Common Wealth Bank's customer experience management. It begins with an executive summary and table of contents, followed by an introduction that highlights the bank's operations in the Australian market and its focus on customer satisfaction. The report details the research methods employed, including primary research through surveys and secondary research using online reviews. Key findings include customer segmentation into elderly and adult demographics, along with a customer experience map. The report offers recommendations regarding experience maps and touchpoints, concluding with a summary of the bank's need to prioritize customer satisfaction. An appendix includes the questionnaire and responses, and a list of references. The analysis provides insights into improving customer experience and achieving success in the competitive banking sector.

Running Head: CUSTOMER EXPERIENCE MANAGEMENT: COMMON WEALTH
BANK
Customer Experience Management: Common Wealth Bank
Name of the Student:
Name of the University:
Author Note:

1CUSTOMER EXPERIENCE MANAGEMENT: COMMON WEALTH BANK
Executive Summary
The research report provides a clear idea regarding the customer experience management of
the common wealth bank. The report focuses on the research method which consists of
primary as well as secondary research, along with that findings that is being obtain regarding
the customer segmentation as well as customer experience map. The report also focuses on
the recommendation as well as conclusion which will assist to understand the importance in
the process. Lastly, the report provides the appendix which consists of questionnaire as well
as the responses in the end.

2CUSTOMER EXPERIENCE MANAGEMENT: COMMON WEALTH BANK
Table of Contents
1. Introduction.........................................................................................................................3
2. Research Methods...............................................................................................................3
2.1. Primary Research.........................................................................................................3
2.2. Secondary Research.....................................................................................................4
3. Findings..............................................................................................................................5
3.1. Customer Segments.....................................................................................................5
3.2. Customers Experience Map.........................................................................................6
4. Recommendation................................................................................................................7
4.1. Experience Map...........................................................................................................7
4.2. Touch Points................................................................................................................7
5. Conclusion..........................................................................................................................8
6. Appendix.............................................................................................................................9
6.1. Questionnaire...............................................................................................................9
6.2. Responses of the Questionnaire.................................................................................11
7. References.........................................................................................................................15

3CUSTOMER EXPERIENCE MANAGEMENT: COMMON WEALTH BANK
1. Introduction
The organization that has been look after in this report is the Common Wealth Bank,
which mainly operates in Australian marketplace. The firm mainly operates in the banking
sector and it is quite popular among the people of Australia and that is the sole reason the
organization requires to look after the customer’s satisfaction so that they can achieve what
they are willing to obtain from the marketplace (Homburg, Jozić & Kuehnl, 2017). The
organization have rightly taken up the strategy in terms of growth in the Australian market as
well as in terms of marketing strategy so as to reach to the consumers and services to the
consumers so that they can become popular among them (Fatma, 2014). This is essential for
the organization as they provide banking services to the customers and that is the sole reason
the customers should be provided with the importance so that they can flourish in the
marketplace. The main objective that is being focused in this report is to understand how to
improve the customer’s experience so that the firm can achieve what they are willing to gain
from the marketplace.
2. Research Methods
2.1. Primary Research
The primary research that is being done to understand the level of satisfaction that the
customers get when they avail the service of the Common Wealth Bank through online or by
going physically into the bank (Rammal & Zurbruegg, 2016). This can be done with the help
of the feedback form which is essential for the organization to understand the level of
satisfaction that the customers get and can improve where it is crucial for the organization to
focus so as to become more popular in the market. This is vital for the organization as it will
assist the firm with the first-hand information and data that is unbiased and important for the
organization to look after so that they can improve the services (Mortimer et al., 2015).

4CUSTOMER EXPERIENCE MANAGEMENT: COMMON WEALTH BANK
The forms for the survey will be distributed with the help of the internet to the
customers of the bank so that the feedback is not tampered and the customers will be free to
provide the feedback to the consumers. This will assist the organization to flourish in the
marketplace and let them provide the consumers with the satisfaction that is vital for the
expansion of the firm in the marketplace (Joshi et al., 2013). The respondent will be choosing
randomly so that the feedback that the firm receives is anonymous and any sort of
manipulation cannot be done in the process.
This is essential as well as vital for the company to flourish in the market and
improve its services that are being provided by them to the customers. So, that they can
become popular in the Australian marketplace (Huang & Rundle-Thiele, 2014).
2.2. Secondary Research
The secondary research will enable to understand the popularity of the bank in the
Australian marketplace. This is critical for the organization to understand as the review is
unbiased in the process (Booth & Whelan, 2014). This will assist the firm to expand in the
market and will also enable them to understand what are the strategy they need to focus on so
that it can improve the quality of the service which is being provided to the customers. The
comment or the review will enable the firm to understand the feelings as well as unbiased
thought of the customers towards the bank, which will enable it to adopt the strategy so as to
flourish in the marketplace and let them achieve the success in the process (Ozanne &
Ozanne, 2016).
The firm will be able to understand if the customers have faced any sort of difficulties
with the services that they have provided to them and can modify it accordingly so that they
are able to attract the customers towards the services so that they can avail it in the process
(Okech & Mugambi, 2016). This is essential for the bank to gain the popularity and also to

5CUSTOMER EXPERIENCE MANAGEMENT: COMMON WEALTH BANK
grab the attention of the customers towards them so as to capture a huge market share in the
process.
The findings can also be used in the process so as to understand the needs as well as
wants of the consumers and help them to gain the success in the process. This will assist them
to become successful in the Australian marketplace and will make the bank active in the
social media as well to connect with the customers in the process (Sadalia, Rahamani &
Muda, 2017).
3. Findings
3.1. Customer Segments
There are two types of customer segmentation that are being seen in the process and
they are namely the elderly person and the adults who are working or are the homemaker.
This is essential for the firm to understand so as to achieve the success in the process by
framing the communication strategy accordingly, which is vital for the company to look after
so as to flourish in the Australian marketplace (Lees & Winchester, 2014). This requires to be
look after by the organization so that they can communicate and can provide offer as per the
customer segmentation so that there are unique perspective regarding the communication that
is being done in the process.
Thus, it can be noted that the organization requires to look after the matter so as to
frame the strategy accordingly and can achieve what they are intending to obtain from the
marketplace. This will enable the organization to communicate in an effective as well as
efficient way possible and help them to gain the target what they are willing to obtain in the
process (Rammal & Zurbruegg, 2016).

6CUSTOMER EXPERIENCE MANAGEMENT: COMMON WEALTH BANK
Hence, it can be said that the firm need to conduct the survey as well as need to do the
secondary research to understand the market condition and help the organization to flourish
in the market and to gain what they are intending to obtain from the marketplace. So, this is a
crucial aspect that need to be addressed by the organization so that they can generate revenue
and can become popular in the marketplace.
3.2. Customers Experience Map
The customer experience map will enable the organization to understand the
customer’s feeling and what they like and do not like in one hand and on the other hand assist
the organization to improve its service which frustrate or disappoint the customers to get the
satisfaction. This is helpful for the firm to flourish in the marketplace as it provides the inner
feeling of the customers, which will enable them to improve its service in the marketplace.
This need to be understood by the organization so as to expand in the marketplace and can
achieve what they are willing to gain from the process (McColl-Kennedy et al., 2015). This
will also assist the organization to plan accordingly and enable them to look into the matter so
that they can provide high quality service to the consumers as the firm is in the banking
sector so it is essential for them to understand the needs as well as wants of the consumers.
Therefore, it can be said that the firm need to look after the customer experience map
so that they can achieve what they are willing to gain from the marketplace and let them
obtain the target in the process (Kristensson et al., 2016). This will also enable the
organization to provide best quality service to the consumers which will attract them to avail
the service from the bank and help them to become popular in the marketplace. This is vital
as well as vital for the expansion of the firm in the marketplace and to obtain the success in
the process.

7CUSTOMER EXPERIENCE MANAGEMENT: COMMON WEALTH BANK
4. Recommendation
4.1. Experience Map
The organization to develop the strategy which will enable them to provide the clear
idea regarding the support that they need to obtain in its business model so that they can gain
the success what they are willing to obtain in the process. This is vital for the organization
and assist them to obtain the success in the process. This is necessary for the organization to
provide proper support to the consumers and enable them to achieve the target what they are
willing to obtain in the process. This will also assist the firm to understand in what aspects
they are lacking behind so as to obtain the success in the process. This is a necessary for the
firm to become popular in marketplace. This will also assist it to understand what are the
steps that requires to be taken by the organization so that they can become popular among the
customers regarding the service that they are providing. This will ultimately enable the firm
to flourish in the marketplace and to achieve the target in the process.
Hence, it can be said that the company need to look after the matter so that they can
grab the attention of the consumers in the marketplace and can become popular in the
process. This is vital for the growth of the organization as well as to provide better quality
service at the same time to the consumers in the process.
4.2. Touch Points
The organization requires to look after the services so that they can obtain the success
in the process and can become popular in the marketplace. This is crucial for the organization
to understand so as to grow in the marketplace. This is essential for the organization to
eliminate the problem that are there in its business model so as to provide quality service to
the consumers and enable them to achieve the success to lure the customers to avail the
services from the firm. This need to be understand as this will assist them to flourish in the

8CUSTOMER EXPERIENCE MANAGEMENT: COMMON WEALTH BANK
marketplace and to communicate in an effective way possible with the consumers in the
marketplace. This is also necessary for the company to strategize as per the needs as well as
wants of the consumers in the marketplace. Hence, it will be helpful for the firm to become
successful min the marketplace and to flourish in the process.
5. Conclusion
In the end it can be said that the Common Wealth Bank requires to look after the
customer’s satisfaction if they are intending to achieve the target in the marketplace and to
become one of the trustworthy banks in the Australian marketplace. This will assist them to
expand and to capture a huge market share. The company will be able to provide variety of
services to the customers and let them become success in the marketplace. Hence, it is critical
for the company in the expansion process and to achieve the success in the marketplace.

9CUSTOMER EXPERIENCE MANAGEMENT: COMMON WEALTH BANK
6. Appendix
6.1. Questionnaire
Customer Feedback
Common Wealth Bank
* Required
1. Rate the services provided by the bank *
Worst
1
2
3
4
5
Best
2. Rate the services provided by the customer executives *
Worst
1
2
3
4
5
Best
3. Rate the query solving efficiency of the customer executive *
Worst
1
2
3
4
5
Best
4. Rate the overall experience when you visit the branch *
Worst
1
2
3
4
5

10CUSTOMER EXPERIENCE MANAGEMENT: COMMON WEALTH BANK
Best
5. Rate the quality of services that are provided by the bank *
Worst
1
2
3
4
5
Best
6. Rate the customer handling technique of the bank *
Worst
1
2
3
4
5
Best
7. Rate the query solving technique of the bank *
Worst
1
2
3
4
5
Best
8. Rate the other additional services that are being provided by the bank *
Worst
1
2
3
4
5
Best
9. Rate the online banking facility provided by the bank *
Worst
1
2
3
4
5

11CUSTOMER EXPERIENCE MANAGEMENT: COMMON WEALTH BANK
Best
10. Rate the efficiency of the website operate by the bank *
Worst
1
2
3
4
5
Best
6.2. Responses of the Questionnaire