The importance of financial services is self-evident for the well being of economies as well as societies. Major providers of such services are banks, next to mortgage credit companies and insurance companies. Banks, in this context, are commercial retail banks, offering a wide range of financial services and even insurance.
Nowadays, the service industry, especially banks, faces increasing competition. In such environment, differentiation is necessary. The general purpose of this thesis is to understand how a bank can achieve differentiation based on a marketing approach. Two research questions will respectively examine the three additional P’s of the marketing mix (People, Presentation or Physical Evidence and Process) and the Customer Relationship Management as possible differentiators…
Contents
1 Introduction
1.1 Background
1.2 Problem discussion
1.3 Purpose
1.4 Research Questions
1.5 Disposition
1.6 Delimitations
2 Method
2.1 Qualitative Method
2.2 Induction
2.3 Abduction
2.4 Case Study
2.4.1 Single versus multiple case studies
2.4.2 Analysis of the case study
2.5 Primary Data
2.6 Secondary Data
2.7 Verification of conclusions
2.7.1 Validity
2.7.2 Reliability
2.8 Data collection plan
3 Theoretical Framework
3.1 Customer Relationship Management (CRM)
3.1.1 Overall marketing concept
3.1.2 Internal Marketing (IM)
3.1.3 Total Quality Management
3.1.4 Relationship Marketing
3.1.5 Customer Care
3.2 Three additional P’s:
3.2.1 Process
3.2.2 Presentation or Physical evidence
3.2.3 People
3.3 Extended CRM model for service differentiation
3.3.1 The three P’s as a part of the CRM concept
3.3.1.1 Why People are included in the CRM concept
3.3.1.2 Why Presentation and process are included in the CRM concept
3.3.2 An extended CRM model
3.4 Conclusion of Theoretical Framework
4 Empirical data
4.1 Presentation of the banks and the managers interviewed
4.1.1 Svenska Handelsbanken
4.1.2 FöreningsSparbanken
4.1.3 Nordea
4.1.4 SEB
4.2 The data
4.2.1 Overall marketing concept
4.2.2 Internal Marketing (IM)
4.2.2.1 Motivation and satisfaction of the employees
4.2.2.2 Customer orientation and satisfaction
4.2.2.3 Development of the co-ordination of all the functions of the firm and their integration
4.2.2.4 Empowerment
4.2.3 Total Quality Management
4.2.4 Relationship Marketing
4.2.5 Customer Care
4.2.6 Service quality
4.2.7 People
4.2.8 Other criteria of differentiation
4.2.8.1 Process
4.2.8.2 Presentation
5 Analysis
5.1 Single Case Analysis
5.1.1 Handelsbanken
5.1.1.1 Overall marketing strategy
5.1.1.2 Primary tools of differentiation
5.1.1.3 Secondary tools of differentiation
5.1.2 FöreningsSparbanken
5.1.2.1 Overall marketing strategy
5.1.2.2 Primary tools of differentiation
5.1.2.3 Secondary tools of differentiation
5.1.3 Nordea
5.1.3.1 Overall marketing strategy
5.1.3.2 Primary tools of differentiation
5.1.3.3 Secondary tools of differentiation
5.1.4 SEB
5.1.4.1 Overall marketing strategy
5.1.4.2 Primary tools of differentiation
5.1.4.3 Secondary tools of differentiation
5.2 Cross Case Analysis
5.2.1 Overall marketing concept
5.2.2 The service quality as a tool of differentiation
5.2.3 The secondary tools of differentiation
6 Conclusions and discussions
6.1 Conclusions
6.2 Final discussion
6.2.1 Reflections
6.2.2 Further research implications
6.3 Acknowledgements
References
Author: Klaus, Alexander,Marie, Ségolène
Source: Jönköping University
Reference URL 1: Visit Now