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JYSKE Bank.docx

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Department
Administration
Course
ADM3322
Professor
All Professors
Semester
Winter

Description
The main achievement of Jyske Bank was their ability to improvequality service and to deliver a service matching perfectly customersexpectationsThe gap model of service quality developed by VA Zeithmal AParasuraman and LL Berry in Delivering Quality Service BalancingCustomer Perceptions and Expectations will help us to understand howJyske Bank managed to close the gap between customers expectationsand perceptions the customer gapBriefly the gap model states that an organization will improve itsquality service and its services marketing closing the customer gapby closing the four provider gaps which are1 Not knowing what customer expect2 Not selecting the right service quality designs and standards3 Not delivering to service designs and standards4 Not matching performance to promiseJyske Bank managed to close the first gap thanks to a good marketingresearch orientation They conducted surveys to detect customersexpectations Thus they highlighted that customers expectations hadchanged factors like price product or location had become basicsfor customers who focused more on differentiating factors likebankers behavior and interest toward customersJyske Bank also implemented a good upward communication Thanks totheir reorganization of the structure dissolution of headquarterswhich leaded to less layers between top management and frontlineemployees and thanks to a good intern communication between managersand contact employees customers expectations were transmitted easilyand quickly trough the firmFinally the firm developed an effective relationship focus Theyfirst decided to specialized only on two customer segments DanishFamilies and Smalltomediumsized companies and to focus only onpeople sharing the Jyske Bank values This strategy made it easier tounderstand customers expectations and to build long term relationshipwith them Jyske Banks purpose is not to attract more and morecustomers but rather to build long term and profitable relationshipswith themJyske Bank closed the gap 2 by implemented solutions allowingtransforming the identified expectations into service characteristicsAt Jyske Bank services are design according their values As their
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