Customer Relations in the Banking Industry

Introduction Most businesses will tell you that quality customer service is the keystone to success. Customer service is all around us. Most of us engage in customer Service activities of some type during our normal daily routines at Work. All of us encounter customer service when we go to the Store, call a company on the phone, or visit a business’s web site. However, simply being exposed to customer service doesn’t mean you understand how to do it well or how to evaluate whether you are receiving an acceptable level of customer service. The point of his course is to help you understand what customer service is and how to make it better whether you do it a for a living or deal with it at a consumer-level. This proposal shows that good customer service is crucial to any business firm. It also elaborates on how customer service quality can be improved to help a firm Backround Customer service is vital to the ongoing success of a company. Customers needs, wants and attitudes change very quickly. It is important for companies to be continually changing and evaluating their customer service in order to meet these ever changing trends.

Customer service is not merely customer relations or how nice frontline workers are to customers, rather, it is satisfying or even delighting customers; this should be the goal of excellent customer service. Customers for different types of services have different needs, customer service strategies will differ and must be tailored to the target customer. The major difference between the Ghanaian banking sector and the foreign banking sector is about customer consciousness and service concept. Overseas banking have a greater history in customer relationship management.

As the banks in the West are under a relative competitive environment, they have accumulated substantial experience in the aspect of customer service. On the other hand, since the banking sector in Ghana has just opened to the market, some divisions still have superficial understanding of the “customer-centred” concept and fail to have an in-depth understanding of customer demands. They implement the practice of non-discriminating customer service strategy continuously and fail to get hold of real profit-making customers so as to carry out different treatments or provide one-to-one customer service. STATEMENT OF PROBLEM

Does good customer service benefit any organization? RESEARCH OBJECTIVES To determine if customer service motivates consumers to banks. To determine the general satisfaction of banking consumers. To determine the cost and benefits of a good customer service. Hypothesis Theory suggests that multinational banks follow their corporate and non-corporate customers. Previous empirical studies have tested the hypothesis that multinational banks follow their corporate customers. This study bridges a gap between the theory and previous empirical studies by testing the hypothesis that multinational banks also follow their non-corporate customers.

We accomplish the purpose by empirically testing a model of the effect of home country factors on multinational bank expansion. Our results support the hypothesis that multinational banks also follow their non-corporate customers. Significance of study We all know that any business will not grow without the help of your customers. They buy products or services from in return they are expecting to receive quality service from you. Supporting them with their problems is said to be the best way to show them that they are being appreciated. I found out during my research that most small businesses stay active because heir customers are satisfied with their service. · It’s easier to lose a customer due to poor service rather than for your product’s quality or cost. · A person who stops doing business with your company costs 5 times more than they would’ve spent for one entire year. Scope and limitations Who are our customers? What do customers want? Listening and questioning techniques Dealing with difficult customers Methodology The primary method of research for this report was secondary information, in the form of text books and the World Wide Web.