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Us Bank: Review Of Literature

Chapter 2: Review of Literature and Benchmarking

Customers love and cherish companies that treat them the way they want to be treated. Sometimes customers will even pay more to get good service. Effective communication and the established relationship with the customers are the essence of customer service. Every interaction with a customer or potential customer is an opportunity for gathering feedback, searching out needs, and implementing changes that can make an organization more customers centric. One key to business success is customer loyalty (Leland and Bailey, 2006). US World Bank (UWB) wants to enhance customer loyalty by offering a new credit card product. This is why the new product is essential for the future growth of UWB.
You can never be truly effective with a client if you do not have a solid understanding of your portfolio and the full capabilities of your company (Markert, 2007). Customer want their problems solved and a bank were their financial needs are meet. One important factor is for UWB to achieve their overall number objective but of equal importance is for UWB get there by exceeding the customers expectations. A good company will sort through a plan for best obtaining a customer’s most critical objectives (Markert, 2007). If a companies do not invest the effort in getting the customer’s objectives down and creating products that contribute to those objectives, then the company has lost (Markert, 2007). Therefore, you have given the customer no decent way of benchmarking your success, no quantitative or qualitative method to prove your value (Markert, 2007). The truly good service professionals are always focused on doing everything possible to bring complete solutions to customers. To offer a total solution package to maintain customer retention is important. The market is very competitive. Finding the right product for customers are often complex. However, the company who brings simplicity and total solutions is always the winner...