Nova Southeastern University
H. Wayne Huizenga School of Business & Entrepreneurship
Assignment for Course: OPS 5095, Service Operations Management
Submitted to: Dr. Joseph Chavez
Submitted by: Xiaoyan Jiang N01438073
Date of Submission: 5/5/2013
Title of Assignment: Commerce Bank
CERTIFICATION OF AUTHORSHIP: I certify that I am the author of this paper and that any assistance I received in its preparation is fully acknowledged and disclosed in the paper. I have also cited any sources from which I used data, ideas or words, either quoted directly or paraphrased. I also certify that this paper was prepared by me specifically for this course.
Student 's Signature: Xiaoyan Jiang
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to Boston (Frei, 2006).
Problem Statement
Commerce Bank was to stay ahead, who wants to leave a clear impression in customer’s minds. It paid more attention on its service, not price. Retailtainment is the mean idea of Commerce Bank.
Analysis
For Commerce Bank, the good relationship between bank and customers is the most important thing, who wants to keep a high customer loyalty, than care about the profitability.
Although Banking industry paid more attention on on-line bank, but for Commerce Bank, who training their employees at University center, and prepare for a good service of face to face. Commerce Bank was focusing on providing the good service for each customer, which is totally different than other competitors. It put a large amount investment into its special service, or “Retailtainment” for customers, therefore it ignored to improve the products. At Commerce Bank’s front door, every customer were served as same as feeling at home. Most of people like it with this special business strategy, on the other hand, some people will complain about the service is too much, there is lack of tellers. There also has a really good system in Commerce Bank, which called “WOW”, and this program also make its profits increased from 1998 to 2001.
For this unique Commerce Bank, its customers are categorized as personalizing and convenience customers. The personalizing customers who very enjoy the good and special service experience,
I certify that I am the author of this paper and that any assistance I received in its preparation is fully acknowledge and disclosed in the paper. I have also cited any sources from which I used data, ideas of words, whether quoted directly or paraphrased. I also certify that this paper was prepared by me specifically for this course.
Certification of Authorship: I certify that I am the author of this paper and that any assistance I received in its preparation is fully acknowledged and disclosed in the paper. I have also cited any sources from which I used data, ideas, or words, either quoted directly or paraphrased. I also certify that this paper was prepared by me specifically for the purpose of this assignment.
Certification of Authorship: I certify that I am the author of this paper and that any assistance I received in its preparation is fully acknowledged and disclosed in the paper. I have also cited any sources from which I used data, ideas, words, either quoted directly or paraphrased. I also certify that this paper was prepared by me especially for this course.
CERTIFICATION OF AUTHORSHIP: I certify that I am the author of this paper and that any assistance I received in its preparation is fully acknowledged and disclosed in the paper. I have also cited any sources from which I used data, ideas or words, either quoted directly or paraphrased. I also certify that this paper was prepared by me specifically for this course.
CIBC has focused its core business on retail and business banking, wealth management, and whole sale banking. They have shown a proven track record of providing there customers with financial services and advice through a group upwards of 1100 branches worldwide. Strategies CIBC has portrayed is to continually find new ways to enhance the experience of the client and to stimulate safe revenue growth. CIBC has put emphases on creating deep meaningful relationships with all clients, constantly trying new ways to improve service and sales prospects and to create relationships with new clients while retaining existing clients for a long period of time (CIBC).
CERTIFICATION OF AUTHORSHIP: I certify that I am the author of this paper and that any assistance I received in its preparation is fully acknowledge and disclosed in the paper. I have also cited any sources from which I used data, ideas of words, whether quoted directly or paraphrased. I also certify that this paper was prepared by me specifically for this course.
The bank sells service in the industrial, commercial and real estates. It also offer services in the retail banking and manage treasury for its clients. The services offered by the bank are a commodity because the clients sort these services to satisfy a need that they have.
CERTIFICATION OF AUTHORSHIP: I certify that I am the author of this paper and that any assistance I received in its preparation is fully acknowledged and disclosed in the paper. I have also cited any sources from which I used data, ideas or words, either quoted directly or paraphrased. I also certify that this paper was prepared by me specifically for this course.
CERTIFICATION OF AUTHORSHIP: I certify that I am the author of this paper and that any assistance I received in its preparation is fully acknowledged and disclosed in the paper. I have also cited any sources from which I used data, ideas or words, either quoted directly or paraphrased. I also certify that this paper was prepared by me specifically for this course.
Commerce bank has been a pioneer in the banking industry by reverting to customer service. This has driven customers to the bank, but in order to stay ahead on the curve they want to move away from the model that has worked for them. They should focus on the current model and enhance it, rather than change it.
CERTIFICATION OF AUTHORSHIP: I certify that I am the author of this paper and that any assistance I received in its preparation is fully acknowledge and disclosed in the paper. I have also cited any sources from which I used data, ideas of words, whether quoted directly or paraphrased. I also certify that this paper was prepared by me specifically for this course.
In this assignment, we through the service blueprint of the Hang Seng Bank, we find out some strengths and weaknesses. Besides that, we also find out the customer benefits from Hang Seng
As a result, a new service “Tawasul” launched in the market and the reason why the Bank choose it as their competitive advantage because it provide all the differences a competitive advantage should hold and as will it met the banks objectives. As a service that is different “Tawasul” have it all. It is Important to the customer, distinctive as no other bank in the same market provide the same, superior .communicable, pre-emptive as it’s not easy to be cloned, affordable to customers and finally profitable to the Bank.
The report provides a research of the customer oriented strategy adopted by ASB Bank Limited and significant impact of an information technology on this
Furthermore, with a lower cost distribution model, Maybank’s One Solution is sold through kiosks located in tall traffic areas. All channels are orchestrated to optimise customer convenience and to lower the cost to serve and acquire. The objective is to maximise low cost paths example like online, mobile, ATM and agent to open up a kiosk concept to seize and service the mass segment so there’s no need to go to a branch. (Annual Innovation Report of Maybank