EFFECT OF CUSTOMER SERVICE IN THE BANKING INDUSTRY


EFFECT OF CUSTOMER SERVICE IN THE BANKING INDUSTRY (A CASE STUDY OF GUARANTY TRUST BANK PLC)

TABLE OF CONTENTS

Title Page

Certification

Dedication

Acknowledgment

Table of Contents

CHAPTER ONE

1.1            Introduction

1.2            Problem Analysis

1.3            Objectives of the study

1.4            Relevant Research Question

1.5            Statement of the Hypotheses

1.6            Definition of terms

1.7            Delimitation (Scope) of the study

1.8            Significance of the study

CHAPTER TWO

2.1      Introduction

2.2      The Origin of Banking

2.3      Theories Relevant to Evolution of Customer Service

2.4      Current Literature base on each of the Relevant Variable

CHAPTER THREE

3.1      Introduction

3.2      Restatement of the Research Question and Hypotheses

3.3      Research Design

3.4      Characteristics of the study population/Sample Size

            And Sampling Techniques

3.5      Sampling Design and Procedures

3.6      Data Collection Instrument

3.7      Pilot Study test of Validity and Reliability of the

            Instrument

3.8      Administration of the Data Collection Instrument

3.9      Procedures for Processing/Analyzing Collected Data

3.10    Limitation

CHAPTER FOUR

4.1      Introduction

4.2      The study and finding

4.3      Presentation and Analysis of Data According to Research

            Questions

4.4      Presentation and Analysis of Data According to Testing

            Of Hypothesis

CHAPTER FIVE

5.1      Summary

5.2      Conclusions

5.3      Recommendations

            Bibliography

            Appendices

            A         Letter of Introduction

            B         Questionnaire

  CHAPTER ONE   1.1    INTRODUCTION

The study shows the importance of services rendered to customers and their effect on business activities. To some managers, developing a strategy for customers and the services may sound like a waste of time meanwhile, without a strategy you cannot develop a concept of service to employees or catch conflict between corporate strategy and customer service, for the strategy makes you know who customers are, how much they value different aspects of services, how much you spend to satisfy them and how big the payoffs are likely to be.

It is the customer who determines what the business is, so one needs to make the required attempt to know what stimulates the interest of customers towards the product offered to them. But not all organizations are bothered about this that is why some of them cannot effectively compete with others because they cannot manage the services rendered to their customers.  For example, a Bank with many customers is enjoying not minding what it cost them.

The contributions of customers are very important as the business is purposely created because of them. So one can see that services rendered should be studied and not neglected as it has the impact of excellence on the organization.

1.2    PROBLEM ANALYSIS

Service - oriented firms like the Banking Industry are faced with the problems of getting and retaining customers. The survival of any business organization depends on the satisfaction of customers. Customers who determine the future of an organization. The turnover of any business is contingent on the patronage of its target markets hence service industries must give considerable attention to effective customer service.

One of the classic definitions of marketing is that it is concerned with getting and keeping customers. In practice, most organization marketing efforts focus on getting customers rather than keeping them. Thus an examination of the typical marketing plan will show a bias towards increasing market share rather than towards customer retention. Whilst new customers are always welcome in any business, it has to be realized that an existing customer provides a higher profit contribution and has the potential growth in terms of the value and frequency of purchases.

1.3   OBJECTIVES OF THE STUDY

The main objective of the study is to show the impact of effective customer service on organizational performance. Customers tend to increase and are retained when they are satisfied with the quality of services rendered to them. Specifically, it seeks to achieve the following objectives:

1.      To determine the methods used by Banks to render effective services to their customer.

2.      To evaluate critically the effectiveness of these methods.

3.      To make necessary recommendations for/towards improving all these services.

1.4    RELEVANT RESEARCH QUESTIONS

1.      Would meeting desired customers’ needs create customer satisfaction?

2.      Does customer satisfaction lead to customer patronage?

3.      Does consistent patronage influence turnover?

1.5    STATEMENT OF THE HYPOTHESES HYPOTHESIS 1

Ho- Meeting customer need would not create customer satisfaction.

H1- Meeting customer needs would create customer satisfaction.

HYPOTHESIS 2

Ho- Customer satisfaction will not lead to customer patronage.

H1- Customer satisfaction will lead to customer patronage

HYPOTHESIS 3

Ho- Consistent customer patronage will not influence turn over

Hl- consistent customer patronage will influence turnover.

1.6    DEFINITION OF TERMS

Customer              -        Definition of a customer presents a problem in

Banking. There is no statutory definition of a customer either in Nigeria, Ghana, Sierra Leone, Gambia, or England. A legal decision by Lords Davey on the great western Railway versus London and country bank in 1901 specified the requirement for the conferment of the little "customer". It was held that a customer is any person who has some sort of an implication this legal decision is that a customer must operate one form of account with a banker before he can really be recognized as a customer.

Effectiveness      -        This is the rate of doing things right, that is the

power to produce or producing the desired result

Efficiency -        This is doing the right thing in a skillful

manner/way that is, producing quick and satisfactory results.

Excellence          -        This is the unusual goodness or worth.

Patronage           -        The support/ encouragement given by a person

through his contribution usually with money.

Productivity       -        This is the rate of efficiency of work, especially in industrial production.

Service                -        An activity or benefit that one party can offer to

another, that is essential in the ownership of anything.

1.7    DELIMITATION (SCOPE) OF THE STUDY

The study directs its efforts in finding out the impact of customer service as being a tool for organizational excellence.

The scope of this research is limited to Guaranty Trust Bank Plc in Lagos State, one of the new generation Commercial Banks of eight (8) years outstanding performance and glaringly leading Bank in the whole country.

The study shall highlight a brief illustration of how the Bank performs the services rendered to their customers mostly by the marketing department and customer service unit (CSU).

The result achieved will be used to generalize the effect of services rendered to customers in other financial institutions.

This study is limited to this company because of the cost factor of reaching other companies, ease, and speed of getting information, and being able to consider why its services are extraordinary.

Furthermore, other areas like financial control; personnel administration shall not be included in this study.

1.8    SIGNIFICANCE OF THE STUDY

All corporate companies have to face a basic form that there will be a significant difference in profitability between customers. The challenge to customer service management, therefore, is first, to identify the real profitability potentials of customers, and then to develop or formulate strategies for service that will enhance and improve the profitability, which is the going concern.

It must be recognized that there are cost as well as benefits in providing for customer service, [this will be studied in the next chapter] also the appropriate level and mix of service will very different types of customer needs.

At the end of this study, the results/finding will be useful guides for most organizations in serving their customer satisfactorily as this, would boost their efficiency and effectiveness.

The result of this study will reveal that rendering good services to customers will promote the business of the organization and where customers are satisfied, they will come back for more service which on the other hand increase the level of productivity in the organization, and this, in turn, increases their contribution to the charitable organization in the society.

 

.

EFFECT OF CUSTOMER SERVICE IN THE BANKING INDUSTRY



TYPE IN YOUR TOPIC AND CLICK SEARCH.






RESEARCHWAP.NET

Researchwap.net is an online repository for free project topics and research materials, articles and custom writing of research works. We’re an online resource centre that provides a vast database for students to access numerous research project topics and materials. Researchwap.net guides and assist Postgraduate, Undergraduate and Final Year Students with well researched and quality project topics, topic ideas, research guides and project materials. We’re reliable and trustworthy, and we really understand what is called “time factor”, that is why we’ve simplified the process so that students can get their research projects ready on time. Our platform provides more educational services, such as hiring a writer, research analysis, and software for computer science research and we also seriously adhere to a timely delivery.

TESTIMONIES FROM OUR CLIENTS


Please feel free to carefully review some written and captured responses from our satisfied clients.

  • "Exceptionally outstanding. Highly recommend for all who wish to have effective and excellent project defence. Easily Accessable, Affordable, Effective and effective."

    Debby Henry George, Massachusetts Institute of Technology (MIT), Cambridge, USA.
  • "I saw this website on facebook page and I did not even bother since I was in a hurry to complete my project. But I am totally amazed that when I visited the website and saw the topic I was looking for and I decided to give a try and now I have received it within an hour after ordering the material. Am grateful guys!"

    Hilary Yusuf, United States International University Africa, Nairobi, Kenya.
  • "Researchwap.net is a website I recommend to all student and researchers within and outside the country. The web owners are doing great job and I appreciate them for that. Once again, thank you very much "researchwap.net" and God bless you and your business! ."

    Debby Henry George, Massachusetts Institute of Technology (MIT), Cambridge, USA.
  • "Great User Experience, Nice flows and Superb functionalities.The app is indeed a great tech innovation for greasing the wheels of final year, research and other pedagogical related project works. A trial would definitely convince you."

    Lamilare Valentine, Kwame Nkrumah University, Kumasi, Ghana.
  • "I love what you guys are doing, your material guided me well through my research. Thank you for helping me achieve academic success."

    Sampson, University of Nigeria, Nsukka.
  • "researchwap.com is God-sent! I got good grades in my seminar and project with the help of your service, thank you soooooo much."

    Cynthia, Akwa Ibom State University .
  • "Sorry, it was in my spam folder all along, I should have looked it up properly first. Please keep up the good work, your team is quite commited. Am grateful...I will certainly refer my friends too."

    Elizabeth, Obafemi Awolowo University
  • "Am happy the defense went well, thanks to your articles. I may not be able to express how grateful I am for all your assistance, but on my honour, I owe you guys a good number of referrals. Thank you once again."

    Ali Olanrewaju, Lagos State University.
  • "My Dear Researchwap, initially I never believed one can actually do honest business transactions with Nigerians online until i stumbled into your website. You have broken a new legacy of record as far as am concerned. Keep up the good work!"

    Willie Ekereobong, University of Port Harcourt.
  • "WOW, SO IT'S TRUE??!! I can't believe I got this quality work for just 3k...I thought it was scam ooo. I wouldn't mind if it goes for over 5k, its worth it. Thank you!"

    Theressa, Igbinedion University.
  • "I did not see my project topic on your website so I decided to call your customer care number, the attention I got was epic! I got help from the beginning to the end of my project in just 3 days, they even taught me how to defend my project and I got a 'B' at the end. Thank you so much researchwap.com, infact, I owe my graduating well today to you guys...."

    Joseph, Abia state Polytechnic.
  • "My friend told me about ResearchWap website, I doubted her until I saw her receive her full project in less than 15 miniutes, I tried mine too and got it same, right now, am telling everyone in my school about researchwap.com, no one has to suffer any more writing their project. Thank you for making life easy for me and my fellow students... Keep up the good work"

    Christiana, Landmark University .
  • "I wish I knew you guys when I wrote my first degree project, it took so much time and effort then. Now, with just a click of a button, I got my complete project in less than 15 minutes. You guys are too amazing!."

    Musa, Federal University of Technology Minna
  • "I was scared at first when I saw your website but I decided to risk my last 3k and surprisingly I got my complete project in my email box instantly. This is so nice!!!."

    Ali Obafemi, Ibrahim Badamasi Babangida University, Niger State.
  • To contribute to our success story, send us a feedback or please kindly call 2348037664978.
    Then your comment and contact will be published here also with your consent.

    Thank you for choosing researchwap.com.