Effects of Customer Service Management on Company Development a Case of Study of Access Bank Plc Osun State
Chapter One
Objective of the study
- To ascertain the relationship exists between market research and company development in access bank plc Osun state
- To ascertain the extent in the relationship between customer assessment and company development in access bank plc Osun state
- To ascertain the relationship that exists between customer satisfaction and company development in access bank plc Osun state
- To ascertain the relationship between customer relationship management and company development in access bank plc Osun state
CHAPTER TWO
REVIEW OF RELATED LITERATURE
Definition and Conceptual Analysis
Customers are the driving force of enterprises ardently desiring success. Likewise the survival of an enterprise also depends on its customers (Lewis, 2000; Kotler et al., 2001; Kotler, 2000). Consumers and customers are wise when selecting the right products to fulfil their needs and wants. In addition, the intense competition prods them to switch products easily when they are dissatisfied. Therefore there is a need for customer retention. In order to retain customers good customer service must be present, hence an effective CSM (Khong and Richardson, 2003). According to Kotler (2000, p. 45) customer service is ‘‘all the activities involved in making it easy for customers to reach the right parties within the company and receive quick and satisfactory service, answers and resolutions of problems’’. Consequently, customer service can provide the basis for customer retention. Two important constructs are highlighted in this paper, i.e. business performance and CSM. Business performance refers to how well an enterprise performs while CSM refers to how well the enterprise manages its customer service in terms of effectiveness, productivity and quality (Khong and Mahendiran, 2006).
Customer Service Management (CSM)
CSM is reflected as the way organisations manage their customer services to create value and satisfaction (Kotler et al., 2001; Gabbott, 2004). It is considered as a way to deliver customer satisfaction through fulfilment of customers’ needs and wants. In the banking context, customer services are performed to assist customers to achieve their needs and wants through tellers via banking counters, personal financial assistance, automatic teller machines, telephone banking and internet banking (Khong and Mahendiran, 2006). In order to provide efficient CSM, several dimensions (CSF) of customer services should be present. These dimensions include: market research, customer assessment, customer satisfaction, and customer relationship management (Khong and Mahendiran, 2006; Kotler et al., 2001; Kotler, 2000). Details follow.
Market Research
Market research is any organized effort to gather information about markets or customers (Kotler, 2000). Market research is a key factor to get advantage over competitors. Market research provides important information to identify and analyze the market need, market size and competition. Hence, market research is for discovering what people want, need, or believe. It can also involve discovering how they act. Once that research is completed, it can be used to determine how to market a company’s product. Through Market information, market research is often conducted to know the prices of the different banking products in the market, as well as the supply and demand situation. Market segmentation, is widely used for segmenting on geographic differences, personality differences, demographic differences, technographic differences, use of product differences, psychographic differences and gender differences (Khong and Mahendiran, 2006). In addition, market trends are conducted to determine the upward or downward movement of a market, during a period of time. Besides information about the target market, one also needs information about one’s competitors, customers, products, etc. (Khong and Mahendiran, 2006; Kotler et al., 2001; Kotler, 2000).
CHAPTER THREE
RESEARCH METHODOLOGY
INTRODUCTION
In this chapter, we described the research procedure for this study. A research methodology is a research process adopted or employed to systematically and scientifically present the results of a study to the research audience viz. a vis, the study beneficiaries.
RESEARCH DESIGN
Research designs are perceived to be an overall strategy adopted by the researcher whereby different components of the study are integrated in a logical manner to effectively address a research problem. In this study, the researcher employed the survey research design. This is due to the nature of the study whereby the opinion and views of people are sampled. According to Singleton & Straits, (2009), Survey research can use quantitative research strategies (e.g., using questionnaires with numerically rated items), qualitative research strategies (e.g., using open-ended questions), or both strategies (i.e., mixed methods). As it is often used to describe and explore human behaviour, surveys are therefore frequently used in social and psychological research.
POPULATION OF THE STUDY
According to Udoyen (2019), a study population is a group of elements or individuals as the case may be, who share similar characteristics. These similar features can include location, gender, age, sex or specific interest. The emphasis on study population is that it constitutes of individuals or elements that are homogeneous in description.
This study was carried to examine effects of customer service management on company development. Access bank plc Osun state form the population of the study.
CHAPTER FOUR
DATA PRESENTATION AND ANALYSIS
INTRODUCTION
This chapter presents the analysis of data derived through the questionnaire and key informant interview administered on the respondents in the study area. The analysis and interpretation were derived from the findings of the study. The data analysis depicts the simple frequency and percentage of the respondents as well as interpretation of the information gathered. A total of eighty (80) questionnaires were administered to respondents of which only seventy-seven (77) were returned and validated. This was due to irregular, incomplete and inappropriate responses to some questionnaire. For this study a total of 77 was validated for the analysis.
CHAPTER FIVE
SUMMARY, CONCLUSION AND RECOMMENDATION
Introduction
It is important to ascertain that the objective of this study was to ascertain effects of customer service management on company development. In the preceding chapter, the relevant data collected for this study were presented, critically analyzed and appropriate interpretation given. In this chapter, certain recommendations made which in the opinion of the researcher will be of benefits in addressing the challenges of effects of customer service management on company development a case of study of access bank plc osun state
Summary
This study was on effects of customer service management on company development a case of study of access bank plc osun state. Three objectives were raised which included: To ascertain the relationship exists between market research and company development in access bank plc Osun state, to ascertain the extent in the relationship between customer assessment and company development in access bank plc Osun state, to ascertain the relationship that exists between customer satisfaction and company development in access bank plc Osun state and to ascertain the relationship between customer relationship management and company development in access bank plc Osun state. A total of 77 responses were received and validated from the enrolled participants where all respondents were drawn from selected access bank plc Osun state. Hypothesis was tested using Chi-Square statistical tool (SPSS).
Conclusion
In this paper, an empirical framework was created to assess specific relationships between the CSFs of CSM and PBPM in the Nigerian banking industry. As a result, the measurement and structural equation contrived offered a mathematical interpretation of how CSM can affect PBPM. Hence, to enhance their competitive position, Nigerian banks should give high priority to their CSM efforts. This equation is expected to be used by banks in composing strategies to optimize their management of CSM efforts and business performance. The model provides predictive implications on improved business performance, given the activities of key factors manifesting successful CSM. This paper identifies proper conduct of market research to provide important information to identify and analyze the market need, market size and competition. Market research must also be conducted to monitor changes in customer satisfaction and marketing effectiveness. In addition, there must be record of customers’ requests, complaints and transactions for future reference. The paper also posit the satisfaction of customers with the level of new product development and pricing, customer service, existing products/ services as the key drivers of a successful CSM effort. Lastly, customers must be treated as the most important factor in the organization. The paper also associated the effects of successful CSM effort to improved business performance.
Recommendation
Training of employees was found to enhance performance at access bank plc Osun state. It is recommended that improvements need to be done to enable up-to-date technology for customer service provision.
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