The aim of this study is to find out by empirical evidence the use of effective customer service delivery as a marketing tool in banking industry by means of analyzed reports, interviews and financial summary report over a period of ten years.
Also our emphasis is based on banking Industry specifically Guaranty Trust Bank Plc.
Achievement in areas of customer service and accredited changing needs of customers sophistication leading to hi-tech banking with information technology occasional by the immense competition the industry has witnessed in the past decade.
Throughout the study, the inquired of questions requiring innovation responsiveness, exceptions remain very low and restricted to few concepts such as graphs, ratio, percentage and analysis. This contribution these concepts varies with the higher percentage in theory than in particle. It was also found that there is significant level of product development and product differentiation on customer satisfaction although the instruments used for the study contained mathematical calculations. For the company to attain this level of performance in customer service.
The knowledge of market operation in necessary. Profitability as a financial strategy requires the use of entire market behaviour as a general method of formulation of policies.
The use of competitive advantage to quantity customer service problems and to described corporate reputation/image is therefore advocated.
Lastly the attention of financial expert designers marketers anthers publishers of textbooks and organizes of marketing services have been drawn to take cognizance of the changing nature of customer service.
Appendix 1 101
Questionnaire for GTB PLC Staff 109
Appendix II 109
Bibliography 116
1.1 BACKGROUND OF THE STUDY
Peter Drucker (1962) describes the millenium are in as on era of the 3C’s perplexing complexities intense competition and accelerated change.
The global banking environment has witnessed rapid changes in the 90’s and that had pasted serious challenges to the financial services sector. The changing customers’ demands and technological innovations home already transformed the face the banking with the traditional branch banking appearing out of time and specialization becoming a common feature.
The global development such as globalizations, universal banking e-commerce on-line banking interest banking home banking and other technological developments reflect a trend towards effective and quality service delivery.
While financial supermarkets where all banking need can be supplied at one bank are developing at one end, at the other banks are adding new products and services to their traditional offering. Hence facilities such as smart cards internets ATM, EFTPOS and various forms of electronic delivery channels which are common features in developed economics are spreading world include.
Kevin Hall (2001) observed “the most successful financial service firms of the coming decade will be those which learn to see the world through the eyes of their customers. their eyes will come from investing in technology which can generate preference and patterns of behaviour allowing the firms to measures the value of specific customers on the basis of their actual behaviour rather than their assumed behaviour”.
In this research work our emphasis is on the banking industry and specifically Guaranty Trust Bank Plc. The purpose of the project topic or research work is to be able to bring to the fore the accelerated changes in customer services in banking industry occasional by the immense competition the industry has witnessed in the past decade.
The changes of changing customer needs and sophistication leading to “hi-tech banking” with information technology and globalization dictating the pace towards customer satisfaction. It is just product/service delivery that matter in the industry but how it is packaged the place it in delivered and cost (price) of delivering same to meet customer satisfaction that is the difference between efficiency in service delivery and effective delivery.
Guaranty Trust Bank Plc is chosen for this research work is a case study because it had been both a pioneer financial institution in effective customer service delivery and a pacesetter ink a distinct and clear and vision of service delivery as portrayed in its mission statement “Effort will be made in this studies to correct the widely held views that technology is the high way for banks in achieving high level of productivity” Okafor (2001) Because this view down played the role of human resources in effective customer services.
1.2 STATEMENT OF RESEARCH PROBLEM
According to Central Bank of Nigeria briefs series No 98/01 a financial system is a conglomerate of various institutions market instruments and operator that interact with in an economy to provide financial services.
The financial system plays an important role in the economic stabilization growth and development by acting as a channel through which saving can finance investment. The financial system can be identified in a variety of ways, this can be by their generic names for examples, Central Bank commercial Bank Merchant Bank, Industrial and Development
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