Improving customer retention at a selected medical fund through internal service quality and customer relationship management
- Authors: Xaluva, Bongiwe Lumka
- Date: 2012
- Subjects: Customer relations -- Management , Customer services , Consumer satisfaction
- Language: English
- Type: Thesis , Masters , MBA
- Identifier: vital:8638 , http://hdl.handle.net/10948/d1008118 , Customer relations -- Management , Customer services , Consumer satisfaction
- Description: In today’s competitive arena, organisations need strategically to shift their focus from primarily concentrating on new customer acquisitions and rather to realise the importance of improving customer defections, thus looking at strategically retaining the existing customer base. Customer retention to all intents and purposes reflects the core of any service offering organisation and drives the competitiveness and viability of the business. Customer retention is a concern for all sector organisations including the medical aid schemes industry. It has been proven that retaining customers is less costly than attracting new ones and through a satisfied customer a business can elevate its competitiveness in the market. The significance of the study hinges on the importance of each business having comprehensive knowledge of why customers remain loyal patrons or why they choose to defect. It is important to note that the financial resources and time the business expends on improving service to the customer become futile if not matched by the high performance of the internal business units’ strategies. Having an understanding of customer movement will assist the organisation in properly addressing such issues and employing strategic processes that will enable the business to improve its retention strategies and curb defections. The primary objective of the current study was to investigate the impact internal service quality and customer relationship management have on customer retention. The study employed the SERVQUAL model as a measuring tool in establishing the relationship. The study investigated how customer retention (the dependent variable) is influenced by the different elements of internal service quality, namely assurance, empathy, service reliability, responsiveness, tangibles and elationship management, which represented the independent variables. The sample comprised eighty-one (81) out of a possible 130 AA Medical Scheme participants through the organisation’s four national offices. The empirical results showed that of all the variables relationship management, responsiveness and the tangibles have a positive impact on customer retention in medical aid schemes.
- Full Text:
- Date Issued: 2012
- Authors: Xaluva, Bongiwe Lumka
- Date: 2012
- Subjects: Customer relations -- Management , Customer services , Consumer satisfaction
- Language: English
- Type: Thesis , Masters , MBA
- Identifier: vital:8638 , http://hdl.handle.net/10948/d1008118 , Customer relations -- Management , Customer services , Consumer satisfaction
- Description: In today’s competitive arena, organisations need strategically to shift their focus from primarily concentrating on new customer acquisitions and rather to realise the importance of improving customer defections, thus looking at strategically retaining the existing customer base. Customer retention to all intents and purposes reflects the core of any service offering organisation and drives the competitiveness and viability of the business. Customer retention is a concern for all sector organisations including the medical aid schemes industry. It has been proven that retaining customers is less costly than attracting new ones and through a satisfied customer a business can elevate its competitiveness in the market. The significance of the study hinges on the importance of each business having comprehensive knowledge of why customers remain loyal patrons or why they choose to defect. It is important to note that the financial resources and time the business expends on improving service to the customer become futile if not matched by the high performance of the internal business units’ strategies. Having an understanding of customer movement will assist the organisation in properly addressing such issues and employing strategic processes that will enable the business to improve its retention strategies and curb defections. The primary objective of the current study was to investigate the impact internal service quality and customer relationship management have on customer retention. The study employed the SERVQUAL model as a measuring tool in establishing the relationship. The study investigated how customer retention (the dependent variable) is influenced by the different elements of internal service quality, namely assurance, empathy, service reliability, responsiveness, tangibles and elationship management, which represented the independent variables. The sample comprised eighty-one (81) out of a possible 130 AA Medical Scheme participants through the organisation’s four national offices. The empirical results showed that of all the variables relationship management, responsiveness and the tangibles have a positive impact on customer retention in medical aid schemes.
- Full Text:
- Date Issued: 2012
The impact of customer relationship management on retail banking using self-service channels
- Authors: Bothma, Tracy
- Date: 2012
- Subjects: Banks and banking -- Customer services , Service industries -- Technological innovations , Customer relations -- Management , Consumer satisfaction
- Language: English
- Type: Thesis , Masters , MTech
- Identifier: vital:9346 , http://hdl.handle.net/10948/d1013654
- Description: If you do not own the latest technology today it is thought that you are left behind in this technology driven age. More businesses use Self- Service channels to accommodate the increasing demands of customers. It has been said that the use of self-service channels can reduce input costs, increase efficiency and improve customer service. Unfortunately, many customers are left unsatisfied because retail banks are moving away from the human interaction when visiting a branch or advise customers to use their self-service channels, sometimes without any assistance. This causes customers to move banks, complain and in so doing reduce profits and customer relationships with their banks.This research’s main objective was to determine the impact of customer relationship management on retail banks that make use of self-service channels. A theoretical overview of self-service channels and customer relationship management was given. Advantages and disadvantages of each option were explored. The researcher wanted to explore the relation between customers using self-service channels and the assistance and protection provided by retail banks. The customer experience questionnaire used in this research asked retail banking customers from the South African population to determine how customers perceive and experience their banks’ self-service channels and customer service. Many questions relating to their needs and wants with regards to banking have been explored. The results show that most customers are satisfied with their banks in general but do feel that the banks can improve their customer service and assistance with regards to using self-service channels like ATM’s, online and telephone banking and E-Wallet. It has concluded that most customers choose their banks based on advertisements and other media, not customer service, product range or word-of-mouth. The general perception is that customers say that their bank charges do justify the customer service received.
- Full Text:
- Date Issued: 2012
- Authors: Bothma, Tracy
- Date: 2012
- Subjects: Banks and banking -- Customer services , Service industries -- Technological innovations , Customer relations -- Management , Consumer satisfaction
- Language: English
- Type: Thesis , Masters , MTech
- Identifier: vital:9346 , http://hdl.handle.net/10948/d1013654
- Description: If you do not own the latest technology today it is thought that you are left behind in this technology driven age. More businesses use Self- Service channels to accommodate the increasing demands of customers. It has been said that the use of self-service channels can reduce input costs, increase efficiency and improve customer service. Unfortunately, many customers are left unsatisfied because retail banks are moving away from the human interaction when visiting a branch or advise customers to use their self-service channels, sometimes without any assistance. This causes customers to move banks, complain and in so doing reduce profits and customer relationships with their banks.This research’s main objective was to determine the impact of customer relationship management on retail banks that make use of self-service channels. A theoretical overview of self-service channels and customer relationship management was given. Advantages and disadvantages of each option were explored. The researcher wanted to explore the relation between customers using self-service channels and the assistance and protection provided by retail banks. The customer experience questionnaire used in this research asked retail banking customers from the South African population to determine how customers perceive and experience their banks’ self-service channels and customer service. Many questions relating to their needs and wants with regards to banking have been explored. The results show that most customers are satisfied with their banks in general but do feel that the banks can improve their customer service and assistance with regards to using self-service channels like ATM’s, online and telephone banking and E-Wallet. It has concluded that most customers choose their banks based on advertisements and other media, not customer service, product range or word-of-mouth. The general perception is that customers say that their bank charges do justify the customer service received.
- Full Text:
- Date Issued: 2012
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