Employee Relations And Customer Satisfaction - Case Study Example

Employee Relations And Customer SatisfactionThere are various characteristics that determine whether an individual becomes a customer of a bank or not. These characteristic includes: Culture is one of the characteristic. It refers to the behaviors, the perception and the wants that a person learns and is instilled by the family and other social institutions, such as the religion. This affects the buying and consumption behavior of individuals, whether for products or services. Thus, the culture of a people determines the services they purchase and consume, banking services inclusive (Jefferson, 2011).

Social class is another characteristic that determines the individuals buying power, taste and preferences. It is the classification of a society according to the values, interests and behaviors. It is determined by the social categories’ income, education, wealth among other factors. The higher the classification of a people in society, the greater their ability to afford a better lifestyle. The society is mostly categorized in divisions of high class, the middle class, the working class and the low class citizens.

A higher class of people will desire the banking services of a higher class and vice versa (Beryl, 1996).Subculture, yet another characteristic refers to who share certain values, based on their similar experiences in life and exposure to similar situations. These groups of a society exhibits similar buying characteristics, since their taste and preferences in purchasing products and services are influenced by similarity is situations and experiences. These are the characteristics that play a major role in determining the tastes and preferences of individuals or groups of people in the society that also influences the banking services and facilities they seek (Jefferson, 2011).

The buyer makes a decision to purchase goods and services by following a process well defined. The buyer first recognizes the needs and wants that they have, which needs to be fulfilled. Information search follows, where the buyer seeks to understand the ranges of products and services that can meet their indentified needs. The buyer then embarks on analyzing the alternatives provided to him, based on the potential range of products and services that can meet their needs (Heskett, 2008). The buyer then settles on the product or service to buy.

Once he has made the decision on what to purchase, he then goes on and purchases the product, and applies it to fulfill the needs and wants that he had. The last stage of the process is post purchase evaluation, where the buyer assess the products or services he purchased for their suitability to meet his needs. This determines whether he will go for the same product or service, once the same need arises.A customer service is one of the core elements that Umpqua bank applies as a strategy to win customers.

The warm reception of the customers, their directions towards any question they may have or information they may require coupled with giving them gifts such as a chocolate works as the bank customer luring strategy. Conducive customer environment is another strategy, where the bank provides the customer with a spacious room where they can sit and hang out, all the time enjoying Wi-Fi services and Bank’s blended coffee. It provides customer with comfortable chairs not desks. Advertising is another strategy applied by this bank to lure in customers (Heskett, 2008).

The bank generates some creative advertisements that are eye catching, to attract the attention of the people and lure them to banking with it. Finally, the bank applies diversification strategy, where it incorporates stores and malls for people to shop. While still banking. The five links in the service-profit chain links the profitability of Umpqua bank, with customer loyalty, employee satisfaction, productivity and loyalty. The bank ensures its customers are satisfied through providing them with excellent customer services, while providing their employees with a favorable working environment that promotes their productivity and loyalty, through the provision of management, retirement and employee benefits (Beryl, 1996).

This link serves to increase the bank’s profitability. Works CitedBeryl, n. (1996). Focusing on Employee Relations and customer satisfaction. Journal of Finance and Banking. Springer.Heskett, J. (2008). Putting the service-profit chain to work. Harvard Business School publishing Company.Jefferson, P. (2011). Umpqua bank: An Introduction to global marketing solutions. Pearson Education Company.