So in this way Bank has a tough competition pressure. Financial pressure: For improving its current services and products Allied bank needs more capital and when they have enough capital it can improve its services and product and it will also help in capture the market share. Bank facilitates and behaves nicely with good looking, rich, educated people and who have high investment while the bank does not behave nicely with its poor customers who have fewer investments in Allied bank so it is the weak point of Allied bank. To minimize this weakness bank should behave well with their poor customers. And the bank employees should try to behave equally with all the
The information is recorded and monitored thorough the business operation. It also will lend a hand to the accountants where they can easily access the data process. Same goes to TM, the registration and cancellation of customer that happens from time to time can be sensed and this help TM to made job easy. Besides that, AIS help in minimize the cost and also improving the efficiency and effectiveness of the operation of the company (Dull, Gelinas & Wheeler, 2012). The expenditure by TM is minimized and therefore, net income is higher compared with without using AIS.
DuyguKocoglu&SevcanKirmacistudied to determine the importance attached by ZiraatBankası (a state owned bank in Turkey) to customer relationships and to reveal the effect on customer loyalty of its importance to customer relationships. Their research results show that not only collecting data about the customers but also giving information to them arouses customer loyalty, arousing in him the sense that he is valued. The customer report that they are not kept waiting for long. The fact that banking procedures are fast and customers are not kept waiting much are rather important for customer loyalty. The personnel’s knowledge of banking and mastery of the subject accelerate the speed of the service given, so any attempt to train the personnel is necessary for customer loyalty.
As a result of the globalization of the business and the world economy the nature of the businesses has to change and the intense of competition in the aria of service and production is increased as compared to the past. Changes such as governments, privatization, merger and accusation. These changes also affect the demand of the customers and its prospect. Today the commitment of the customers and growth in the customer’s strength need effective communication with the customers. Each customer has its own value and must be fought to gain market share (haghighikafash 2010).
Facing the severe competition from the increasing number of rivals in the industry, many companies or banks are paying more attention to the enhancement of effective advertising to get their products/services closer to the target customers. Also because of the pressure from this intense competition, effective advertising is said to improve the communication channel between customers and organizations, leading to the likelihood of success (Clemes et al., 2010). Cengiz et al. (2007) viewed advertising as activities planned and implemented to boost the sales or better the image of a product/service, business or company. Explained in a detailed perspective, companies normally take advantage of advertising in order to get their potential customers informed of the characteristics and features of products or services ().
Interact with customers can make them feel respected. Lastly, Public Bank customize the products and improve the services through the feedback they have obtained from customers. Public bank have being creative in the development of new product or services to offer customer with easy access to banking service for customers’ convenience. Such as, online banking, E-statement, InterBank and Instant transfer and more. Through develop new product and services, Public Bank have met the expectations of the customers.
It is easy to use and can see and check every transaction within seconds. Not only payment, some larger universities and organization will provide online payment system to help student pay their fee and management systems. It will also allow employee to transfer the small amount of credit to their
Market Orientation According to Naver and Slater (1990), market orientation is one of the organizational cultures which will lead to high performance of a business. This is because the business is able to provide customer superior value with lead cost and time. Market orientation includes customer orientation, competitor orientation and interfunctional coordination. Market orientation will lead to new product performance whether the new product is achieving customers’ expectation or out performing than their competitors (Zhang & Duan, 2010). From Zhang and Duan’s research (2010), market orientation is important than innovation orientation, because customers’ expectation was studied and innovation of new product was built according to customers’
Again, competitive rivalry is manifest when the industry is growing, and consumers can easily move to other competitors offering the product or service for a little cost. Notably, when rivalry competition is so immense, even advertising and price wars can follow, which can hurt a business 's substratum. Importantly, measurement of Competitive rivalry is achieved using concentration ratio. Linking this kind of force to the present case study is necessary. Of course, many banks in the United States do offer services that are in one way or the other similar to the present bank.