Case #6: Jyske Bank
1. What is Jyske Bank’s new positioning or competitive differentiation strategy? The new competitive positioning came about because of a Dutch consultant who’s research indicated that their target market should be Danish companies earing about 40% commercial and 60% retail. They also incorporated the “hard factors”(Price and Product) and “soft factors” (essentially building relationships with the customers) They also created new IT teams that helped the customers figure out exactly what they needed The bank also changed its premium because the services they were providing were expensive Also the bank created a personality, which can be considered risky because realistically you will loose and gain customers because not everyone will always like you
2. What changes did the bank make to get to its new position? What effect did these changes have? One change it made was with creating customer loyalty, and by doing that they knew they had to build a relationship with the team. The created account teams so that each customer was assigned a group of bankers so employees could work together and really know and serve each customer They also changed the Branch design
-Having coffee available while you wait, having fruit for children, office tables became round signifying equality The made sure all staff was extremely well trained and sense they were going with “trust” as a big part of there personality they allowed loans to be less reviewed having trust in there employees to use common sense, employees were given the ability to make many decisions
3. Analyze Jyske Bank’s success using the Service Quality Gaps Model found in Chapter 1) Listening Gap was bettered because it is almost impossible to always know everything the customer wants, the company didn’t consider any detail to small the employees were always wanting to provide for there customer no matter have trivial the detail might be 2) Service Design and Standers Gap was met when...
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