Research on ANZ Bank (Focus on customers only plus theories) Essay Example

  • Category:
    Business
  • Document type:
    Research Paper
  • Level:
    Undergraduate
  • Page:
    2
  • Words:
    876

АNZ Bаnk

Table of Contents

2Executive summary

2Introduction

3Problem statement

3Purpose of the report

3Scope and limitation of the report

3Methodology

3Sources of data collection

3Primary sources

4Secondary sources

4Information Background

4Body of the report

4Findings

5Summary

5Conclusions and recommendations

6References

Executive summary

The study was aimed at establishing customers’ views about the ANZ bank. This bank has categorized its customers into two groups’ namely wealthy customers and ordinary customers. The study shows how each group of customers behaves in the bank. The study looks at areas like customer relationship management and also business practices that make the bank to be successful.

The report looks at ANZ bank activities accordance with Stimulus Organism Response model. This model includes activities such as things that try to generate emotional condition in both customers and employees and also how service capes are brought about. The study also shows certain strategies that generate service atmospheres for the growth of the ANZ bank.

The study also looks at ways of empowering and enfranchising customers, benefits of empowerment, how much it costs to empower and the different levels of empowerment. Suggested recommendations about empowerment are given in the study. The study also looks at different principles that customers use to determine or differentiate different waiting lines in the ANZ bank.

Various ways of deal with uncooperative clients in terms of customers’ ego and Betty are also analyzed in this study. The study shows different ways of handling Betty in relation to customer relationship management outlining its outcome to the customers. These outcomes are analyzed in various ways such as coding, routing, targeting and sharing.

Introduction

Customer relation is defined as the practice coming up with a strong rapport between a business and its customers

Problem statement

Study on the issues that customers experience in the ANZ bank as a result of carrying out business transaction or due to misunderstanding the employees working in the bank. These problems are analyzed in terms of customer relationship management.

Purpose of the report

The main purpose of this study is to show issues that encourage customers to transact with the ANZ bank. It also shows ways in which the employees in ANZ bank use to respond to various complains that customers make.

Scope and limitation of the report

The research was carried out so as to determine major problems that customers in ANZ bank faces and ways of dealing with these problems in relation to customers’ interviews. The bank focused on both ordinary and wealthy customer interviews in relation to customer satisfaction to the bank transactions. The study focused on the ways that the employees used in handling both wealthy and ordinary customers.

Methodology

The study used theories and principles various customers that existed in ANZ bank.

Sources of data collection

Primary sources

In the study, primary data sources about customer relations in a business were used. Articles on previous research work and study on similar topics concerning various banks showed issues that were as a result of customer relationship.

Secondary sources

Secondary articles that were used alongside the research included scholarly articles on customer relations in the field of banks.

Information Background

The research topic is all about issues that customer’s encounter and how to solve them. Customer relation is a basic requirement that any business has to look at so as to maintain its customers. This research topic was brought up as a result of a deteriorating relationship between customers and employees in a business.

Body of the report

The research identifies issues of customer relations as the challenge that is facing ANZ bank. This research based its study on the facts and basic model that is an important organ of customer relations.

Barriers of customer relations included inadequate supporting budgets, inadequate complementary measure, and lack of cultural readiness

Findings

The study into this topic found out that inadequate supporting budgets, inadequate complementary measure, and lack of cultural readiness were the main issues that hindered customer relation in the bank.

Summary

According to the study above, it can be summarized that customer relation is a vital factor of determining the success of any business. There are both positive and negative impacts of customer relation in the ANZ bank.

Conclusions and recommendations

In concluding about the study, the success of a business is determined by how the employees of a business relates with the customers. It is recommended that, the employee should be held accountable for customer service delivery to customers for a successful business.

Reference

Akinci, S., Aksoy, S., &Atilgan, E. (2004). Adoption of internet banking among sophisticated

consumer segments in an advanced developing country. International Journal of BankMarketing,

22 (3), 212-232.

Barnes, S.J., &Corbitt, B. (2003). Mobile banking: concept and potential. International Journal

of Mobile Communications, 1 (3), 273-278.

Harrison-walker, L.J., “E-complaining: A Content Analysis of an Internet Complaint Forum,” Journal of Service

Marketing, Vol. 15, No. 5:397-412, 2001.

Howcroft, B. and M. Durkin, “Reflections on Bank-Customer Interactions in the New Millennium,” Journal of

Financial Services Marketing, Vol. 5, No. 1:9-20, 2000.

Kodama, M., “Consumer Value Creation through Community-Based Information Networks,” International Journal

of Information Management, Vol. 19:495-508, 1999.

Rotchanakitumnuai, S.,&Speece,M. (2003). Barriers to internet banking adoption: a qualitative

study among corporate consumers in Thailand. International Journal of BankMarketing, 21 (6/

7), 312-323.