7 Ps of Banking Sector Essay Example

7 Ps of Banking Sector Essay Example 7 Ps of Banking Sector Essay 7 Ps of Banking Sector Essay Executive Summary: 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. To fulfill the purpose, we introduce an extended model of the CRM concept, including the three additional P’s. After an analysis, it is concluded that the extended model of the CRM concept is actually used as a differentiator. However, as the major Indian bank have a similar strategy; it then appears really difficult to differentiate to a large extent. Background 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. Main functions of banks are, according to Encyclopedia Britannica (2006), the provision of loans and the acceptance of deposits. Corporate customers use banks for issuing finance instruments and derivatives. The provision of, among others, instruments for saving, financing, payment mediation and risk controlling are offered in markets characterized by federal regulation and stiff competition. Due to the resulting pressure, financial service providers are forced to evaluate current strategies and to find new ways of approaching the market. The service nature of bank offers represents an additional challenge. A possible way to realize distinct offers is to promise and deliver superior solutions to the problems of customers. The fact that services cannot be patented provides great danger to imitation. Marketers must be aware of this threat and have to create offerings that are unique or only imitable at a high cost. Having such an offering provides for differentiation from competitors. In recent years, relationship marketing is an approach that has been used substantially. Marketing techniques can provide some tools for setting a bank apart from competitors, focusing less on products and more on additional services and the establishment of long term relationships with customers. Services customers in general do not buy services because of the service itself, but rather focus on potential benefits gained through that purchase. An example could be that customers of a bank do not purchase a savings product for the pure safekeeping function, but rather for the promised interest payments on it. Consumers have imperfect information and therefore rely upon assistance to gain important and valuable information from the service provider. Financial service providers must therefore offer the required assistance and use this for successful businesses. The biggest banks can be seen as their respective main competition, due to their offering of similar financial services. A way to remain competitive in the more and more complex banking environment is the use of the Customer Relationship Management (CRM) concept. The basic approach of CRM in a banking context is to center all operations of a bank on its customers, creating a CRM state of mind in an enterprise wide manner. CRM then consists of such sub-concepts as internal marketing, relationship marketing, Total Quality Management (TQM) and customer care. This underlying thesis approaches the topic of bank differentiation from a marketing perspective. However, due to the complexity of the subject of marketing, this thesis apply a Customer Relationship Management approach that is extended by three additional Ps (see theoretical framework), from the service marketing literature to narrow the focus of this study. Despite the possibility to identify a basic bank loan as a product to some extent, there is always some kind and amount of service involved when speaking about bank offerings. Therefore the terms financial service/s, financial product/s, bank service/s, bank product/s, and bank offering are used interchangeably. In recent years, financial institutions of all types are operating in an increasingly competitive market environment. In response to this volatile market environment, commercial banks have shown a renewed interest in marketing their products to their customers more effectively. To remain competitive, financial institutions, including banks of all sizes, utilize marketing tools and techniques. Relationship marketing is a way for banks to gain competitive advantage, since technical advances can be copied, whereas relationships cannot. The service nature of bank offers represents an additional challenge. The banking transactions are invisible; the transfer of money from one account to another cannot be seen and is therefore difficult to evaluate. As a result banks have to be concerned with making them known for more noticeable offerings. The two general definitions of differentiation. The first one is the ‘process of differentiating’. The second offered definition states differentiation as â€Å"development from the one to the many, the simple to the complex, or the homogeneous to the heterogeneous†. Product differentiation is defined as the marketing of slightly modified products. The aim of these products is to become irreplaceable. Products can be modified on two levels, a physical and a psychological level Modifications on a physical level include for example materials used, design and quality aspects. Advertising campaigns and reputation building for the producer are aspects that can lead to different psychological perceptions. Usually both levels of product differentiation are applied, and the use of brand names and trade marks plays an important role in this area. The concept of differentiation is described as a process of adding distinct characteristics that are not only meaningful but also valued, to the offerings of a company in order to distinguish the goods or services from the ones of competitors. A description of differentiation in a service industry context, claiming that sophisticated companies never offer their branded services as pure commodities. Differentiation at the lowest product level is extremely difficult because these basic products can easily be copied. The difference is created by differing brand relationships from those of competitors, which eads to a distinct image in the mind of a customer. A variety of possible ways of differentiation. Sophisticated companies manage to find chances to distinguish themselves from competitors at every point of customer contact. Differentiation measures such as form, durability and reparability are devoted entirely to physical aspects of products, and are therefore not applicable in service environments such as the banking sector. The aspect of the ‘physical plant’, relating to image differentiation, deals with facility design. Banks must communicate an image of safety through e. . the architecture of the building, the interior design and materials. There are basically two aspects that reason the use of differentiation: one being competitiveness and the second one being profitability. Successful differentiation increases competitiveness by creating an irreplaceable product, allowing companies to extend product life cycles. Referring to products, the delivery of performance quality has been found to be positively correlated with the Return On Investment (ROI), allowing businesses to charge higher prices for a better product. As current topic only deals with the problem of differentiation of banks from a marketing perspective to a small extent, the authors of this thesis decide to explore the concept of differentiation through the marketing approach. The marketing mix concept, consisting of the so called 4 Ps: Product, Price, Promotion, and Place (Distribution) presents the starting point of this research. However, it appeared that these traditional marketing factors are not useful in the context of financial service differentiation. Expanding the concept of the 4Ps of the marketing mix by adding three additional Ps to service environments. The marketing of services in general, relies heavily on the employees of a service provider. The very nature of service delivery requires the contact of at least one employee and the customer. Knowing this, financial service providers can identify people as a major way to make a distinct offering in the mind of its customers. Purpose The general purpose of this thesis is to understand how a bank can achieve differentiation based on a marketing approach. Questions The questions underlying this thesis are: Do the three additional P’s offer sufficient variables that can be used to achieve differentiation for SBI? How can a bank achieve differentiation from competitive banks by focusing on Customer Relationship Management? Introduction: State Bank of India (SBI) is the largest nationalized commercial bank in India in terms of assets, number of branches, deposits, profits and workforce. With the liberalization of the Indian banking industry in the mid-1990s, SBI faced stiff competition from the private sector and foreign banks which resulted in significant loss of its market share. The case describes the efforts of SBI to regain its lost market share by undergoing a major restructuring exercise which involved redesigning its branch network, providing alternate banking channels, emphasis on lean structure and technology up gradation. The case also discusses how SBI is building its image as a customer friendly bank by launching innovative products services and promoting its brand. History: The origin of SBI dates back to the early 19th century, when the Bank of Calcutta was established in Calcutta (present day Kolkata in the state of West Bengal) in June 1806 under the aegis of the Government of Bengal. Three years after its inception, the bank was renamed Bank of Bengal on receiving its charter. It was a unique banking institution as it was the first joint-stock bank in British India. Next came the Bank of Bombay in April 1840 followed by the Bank of Madras on July 1843. By 1876, the three presidency banks, together with their branches, agencies and sub-agencies, covered major inland trade centers in India. Bank of Bengal had 18 branches while the other two had 15 branches each. Initially, the business of these anks was restricted to discounting bills of exchange or other negotiable private securities, keeping cash accounts and receiving deposits and issuing and circulating cash notes. The last quarter of the 19th century witnessed rapid commercialization in India owing to the expansion of the railway network, to cover all major geographic regions of the country. The three presidency banks were both beneficiaries and promoters of this commercialization process as they became involved in the financing of practically every trading, manufacturing and mining activity in the Indian sub-continent. The three presidency banks were amalgamated in January 1921 to form the Imperial Bank of India. The new bank performed the triple role of a commercial bank, a bankers bank and a banker to the government. However, the quasi-central bank role performed by the Imperial Bank ended with the formation of the Reserve Bank of India (RBI) as the central bank of India in 1935. RBIs establishment was a catalyst in the conversion of the Imperial Bank into a purely commercial bank. At the time of Independence in 1947, the Imperial Bank had acquired a paramount position in the countrys banking industry. It had a capital base of Rs. 18. 5 mn, deposits of Rs. 2. 7514 bn and advances of Rs. 729. 4 mn. It had a network of 172 branches and over 200 sub-offices spread all over India. When the first Five Year Plan was launched in 1951, the rural sector was given top priority. The Imperial Bank and other commercial banks too operated mainly in urban areas and had not yet penetrated the rural sector. To overcome this lacuna, it was recommended that a state-partnered and state-sponsored bank be created to take over the Imperial Bank and integrate the former state-owned or state-associated banks with it 7 P’S of BANKING SECTOR ( SBI) It is very important for any bank to identify the 7 P’s of services so as to understand their customers better and provide them with best of service. The 7 P’s are: PRODUCT PRICE PLACE PROMOTION PEOPLE PROCESS PHYSICAL EVIDENCE PRODUCT MIX The product mix of a company includes all different product lines a company offers to its customers. The product line of a bank might easily include more than 100 different services. In today’s competitive scenario it has become very necessary for a bank to provide it’s customers with a wide variety of services and the best technology in order to attract them. Here is an example of some of the products offered by SBI Bank to its customers. Offering SBI Banks Savings Account is just the right product for everyone, salaried, employees or businessmen, high net worth individuals and NRIs. The unmatched package of SBI Bank Savings Bank account given below brings the benefits of better, efficient and hassle free banking. ATM Network 7-Day Banking Telebanking iConnect-Internet Banking Offering SBI Bank has joined hands with Citibank, to give rise to a new kind of card power unique and unmatched benefits and international SBIlity at the most competitive rates. The SBI Bank Citibank International Silver Card, the MasterCard and Unique Card offers quite a few benefits. Rewards Dial-A-Draft Credit Limit Increase 24-Hour ATMs Photo card Concession on Personal Remittances Overdraft facility Free ATM Card PRODUCT WIDTH AND DEPTH Width Width of the product mix is the number of product lines a company is offering. The product width could be a narrow one or a wide one depending from bank to bank. A wide mix encourages more sales since the banks are able to diversify and provide more to their customers and they also appeal to a larger target market. Depth Depth of the product mix is the number of product items in each product line. Banks with more schemes and services have more depths than those offering only a few. Here is table giving an example of Width and Depth in the Product Mix: Similarly, different banks plan out their product portfolios and based on that, the depth and width of their product mix can be determined. In today’s scenario, where there is cutthroat competition and new foreign banks entering the Indian markets, it has became more or less like a law to have very wide product lines with more and more number of products in each line. PRICE MIX The price mix in the banking sector is nothing but the interest rates charged by the different banks. In today’s competitive scenario where customer is the king, the banks have to charge them interest at a rate in accordance with the RBI directives. Banks also compete in terms of annual fees for services like credit cards, DMAT etc. Another important aspect of the bank’s pricing policy today is the interest charged on the Home Loans and Car Loans. With India’s economy progressing, there are more and more buyers seeking these loans but at a very competitive interest rate. Let’s understand this with an example. A particular buyer approaches a bank for a car loan for a period of 3 years. He is charged Rs. 20,000 as interest. However, if a sale representative of another bank comes to know of this deal, he will try to attract the customer by giving him a better deal i. e. a loan at a lower rate on interest. In this way, it is the customer that ultimately benefits. Here is an example of some of the prices charged by SBI bank for their services ATM Card IssueFree – 2 ATM cards issued free if it joint account Add – on CardRS. 100 – Beyond 2 cards Duplicate CardRs. 100 Other General Charges Current AccountSavings Account Transaction ChargesNILNIL Charges for issue of Cheques bookNILNIL Issue of duplicate statementRs. 25 per pageRs. 25 per page Account closureRs. 100Rs. 100 This example evinces some of the charges that the customer has to pay for the services provided by the bank. The pricing factor is very important because of the kind of competition that is prevailing today in the Indian market. However it is very important to understand that in the banking sector, the main pricing policy is concerned with the interest rate charged. This interest rate is however regulated by the RESERVE BANK OF INDIA and THE INDIAN BANKING ASSOCAITION. Any one particular bank or a group of banks does not regulate it. The interest rate charged cannot be higher than that decide by the RBI and the INDIAN BANKING ASSOCIATION. Thus, inspite of the constraints in the pricing policy due to the RBI directives there are mainly three types of pricing methods adopted by banks. They are: Value pricing: Banks having unique or different products or schemes mainly do this type of pricing. They usually charge a combination of high and low prices depending on the customer loyalty as well as the products. This type of pricing strategy is usually coupled with promotion programmes. Going Rate pricing: The most commonly used pricing technique is the going rate pricing. In going rate pricing, the bank bases its price largely depending on the competitor’s prices. The banks however have to stay within the RBI directives and compete. The banks may charge higher or lower than their competitors. After 1991 when the foreign banks entered the Indian market this method of pricing has gained increasing importance. Mark up pricing: This is a pricing technique wherein the cost of the service is determined and a small margin is added to it and then the final price is offered to the customers. This type of pricing is the not very popular since in the banking sector it is not very easy to arrive at the cost of the service. Thus most banks use a combination of mark – up pricing and going rate pricing. THE MOST FAVORABLE PRICING STRATEGY This model shows a pricing strategy, which should be adopted in order to ensure maximum satisfaction to both the bank as well as the customers. The price should be set in such a manner that the customer is assured that he is not being cheated or overcharged by the bank and at the same time the bank is able to reap maximum profits. Such a pricing stand helps the bank get maximum sales as well as profits since the customer feels that by entering such a transaction he is winning. PLACE MIX Place mix is the location analysis for banks branches. There are number a factors affecting the determination of the location of the branch of bank. It is very necessary a bank to situated at a location where most of its target population is located. Some of the important factors affecting the location analysis of a bank are: The trade area Population characteristics Commercial structure Industrial structure Banking structure Proximity to other convenient outlets Real estate rates Proximity to public transportation Drawing time Location of competition Visibility Access It is not necessary that all the above conditions have to be satisfied while selecting the location but it should be tried to satisfy as many of them as possible. PROMOTION MIX Promotion is nothing but making the customer more and more aware of the services and benefits provided by the bank. The banks today can use a lot of new technology to communicate to their customers. Two of the fastest growing modern tools of communicating with the customers are: Internet Banking Mobile Banking This can be better explained with the example of UTI bank. SMS services SMS functions through simple text messages sent from your cellular phone. These messages are recognized by SBI bank to provide you with the required information. For example, when you enter ‘IBAL’ your cellular phone screen will display the current balance in your primary account. Thus with the help of SMS a wide range of query based transactions can be performed without even making a call. SBI was the first organization in India to provide Wireless Application Protocol (WAP) based services. Mobile commerce using WAP technology, allows secure online access of the web using mobile devices. With WAP one can directly access the ICICI WAP server, check one’s account details and use other value added services. Thus different methods are used by different banks to promoter its services. A bank may have very attractive schemes and services to offer to their customers but they are of no use if they are not communicated properly to the customers. Promotion is o inform and remind the individuals and persuade them to accept, recommend or use of product, service or idea. However there some very important points that is to be considered before the promotion strategy is made. These points are: Finalizing the Budget Before the bank decides the kind of promotion that should be done, it very important to finalize the budget for it. The formulation of a sound budget is essential to remove the financial constraints in the process. The budget is determined on the basis of volume of business of the bank. In addition to this the intensity of competition also plays a decisive role. Selecting a suitable vehicle Another very important task is to select a suitable vehicle for driving the message. There are a number of devices to advertise such as broadcast media, telecast media and the print media. The selecting of the mode of advertising is strongly influenced by the kind of budget decided. Usually for promoting banks the most effective and economical form of advertising has been the print media. Making possible creativity Making possible creativity is nothing but the kind of slogans, punch lines etc. that are supporting the message. They should be very creative but yet simple to be understood by the common man. It should appeal to the customers. It should be distinct from that of the competitors and should be successful in informing and sensing the customers. Testing the Effectiveness It should be borne in mind that the advertisement is first tested for its effectiveness. This should be done with the help of various techniques like testing effectiveness on a sample group. This helps determine the success of the advertisement and in case of any problem the advertisement can be altered and remedied. Instrumentality of Branch Managers At a micro level, it is the responsibility of the branch managers to promote and drive the message to the people in the local area. They should organize small programs in order to attract people and crate awareness in the local area about the new schemes of the bank. Different Ways of Promotion Public Relations: Personal Selling: Sales Promotion: Word – of – mouth Promotion: Telemarketing: Internet: PEOPLE In banking term people means customers and the employees. People are the employees that are the service providers. In a banking sector, the service provider plays a very important and determinant role in rendering the customers a satisfactory and a good service. It is extremely essential that the service provider understand what his customers expect from him. In the banking sector, the customer needs to be guided in a lot of matters, which is possible only with the help of the service provider. The position in the eyes of the customer will be perceived by appearance, attitude and behavior of the customer contact employees. Not only does the customer contact employee influence the customer’s perception but also the customer base of the organization does so. Customers are broadly classified into three categories Normal Account Holders Business / Partnership Account Holder Government PROCESS MIX The process mix constitutes the overall procedure involved in using the services offered by the bank. It is very necessary that the process is very customer friendly. In other words a process should be such that the customer is easily able to understand and easy to follow. Today if particular banks formalities are long and the procedure very complicated the overall process fails and the customer may not be inclined towards using that banks services. Process can be broadly classified into to parts Deposit and advances Ancillary Services Deposits and Advances: In this part customer transactions are considered whether it is cash deposit, check deposit, cash withdrawal, draft making, fixed deposit, recurring deposit.. All these are the part of recurring deposits. In general we can say that monetary transaction is the part of deposits and advances. Ancillary Services: According to 1949 banking services act sub section 6, ancillary services were introduced in the banking sector. In this part bill of exchange, promissory notes, business guarantee given by bank on behalf of an individual to company or country. We can say that non monetary policies are the part of ancillary services and this part is very important part of banking sector because it deals with the sensitive issue of verifying and giving approval to somebody to do business on the guarantee of bank. PHYSICAL EVIDENCE Physical evidence is the overall layout of the place i. e. how the entire bank has been designed. Physical evidence refers to all those factors that help make the process much easier and smoother. For example, in case of a bank, the physical evidence would be the placement of the customer service executive’s desk, or the location of the place for depositing cheques. It is very necessary that the place be designed in such a manner so as to ensure maximum convenience to the customer and cause no confusion to him. Let us see an example as to how banks try to make little changes so as to make the service better for their customers. Thus, these are the 7 P’s of services. Each of them plays a very important and a pivotal role in determining the quality of the service provided to the customer. SUGGESTIONS Customer Relationship Management Recent trends for businesses of all industries, as well as banks, show a movement towards a stronger customer orientation, rather than a product orientation. This customer orientation can be facilitated by developing and implementing CRM systems. CRM is an advancement of relationship marketing, now involving concepts of the overall marketing concept, total quality management, internal marketing, customer care, and relationship marketing. CRM concepts have to be realized within an organization in order to be successful with its external customers. Further, the main focus of CRM is the employees, which eventually achieve relationships with customers, turning a CRM program into success. A successful CRM program is only possible when the attention is equally divided towards customers and employees. Internal marketing and relationship marketing are identified to be able to achieve a better internal and external business environment, making them a matter of differentiation. In order to successfully implement a CRM concept, the use of sophisticated CRM computer technology is inevitable. Such software can be used to gather data from separate systems or units and provide an overall picture of customers and their relationship with the organization. Overall marketing concept In terms of the CRM concept, the overall marketing approach as how a bank defines marketing for itself and what the broad goal of the resulting orientation is. Internal Marketing (IM) The concept of internal marketing refers to a marketing approach within an organization, aimed at employees. Internal marketing can be defined as a heavy investment in employee quality performance. Internal marketing is a process where the overall principles of marketing are applied within the company in order to become customer focused to the highest possible extent. Total Quality Management Total Quality Management (TQM) as an organizational approach, aims to continuously improve the quality of all processes in an organization, products and services. Relationship Marketing An approach to identify individual customers, to create a relationship between the company and its customers that lasts over many transactions; and to manage that relationship to the benefit of the customers and the company. Relationship marketing is a management process engaging in a triangular relationship between marketing, quality and customer service. These three elements are interrelated and serve each other. Furthermore, relationship marketing focuses especially on the retention of customers, establishing a long-term orientation focusing on customer service. CRM MODEL INTERNAL MARKETING Three additional P’s: Services, being the fastest growing segment of the economy, provide for additional challenges and opportunities. The traditional 4 Ps were created to fit with tangible goods. Extending the traditional 4 Ps by three additional ones applicable especially in service environments. The new Ps are referred to as Process, Physical Evidence or Presentation, and People. Kotler refers to the 4 P’s (Product, Price, Place and Promotion) as being universal. Concerning the service marketing field, some additional factors can be introduced. In order to develop service quality: People, Presentation and Process are to be considered also in financial service marketing Process Process is the way to deliver the service, focusing on ensuring availability and uniform quality provided. It will decide how customers will get their needs met in the system. For example, earlier in the banking industry, the customers were waiting in separate lines for each teller. Deutsch (1990) proposed that a single waiting line for multiples tellers is the most common way of process. The study of Gerstner (2002) presents the branch network of banks consisting of diverse entities, where branches have own micro markets influenced by demographic and economic history. Gerstner (2002) argues that expecting identical sales and performance levels leads some branches to follow goals that are not aligned with their markets, which in return leads to underachievement of these branches. However, even if the theory claims that the process is an important factor of differentiation in the service industry, it appears that in the Indian banking industry this is not a valid criterion. Indeed, Stefan Nyrinder declared that SEB does not consider the process as a decisive factor to differentiate. Presentation or Physical evidence The presentation is important for banks; since people will develop an according image and style for the bank. If a bank, for example, wants to have the image of a user-friendly bank, its interior will look somewhat like a living room, with sofas, plants, and smiling employees. On the other hand, if a bank wants to have a hi-tech and efficient image, the interior will show a lot of computers and latest technology as well as hard working and busy employees. Strategically placing, for example, flat screen televisions and computers with online access in a branch offers both, the opportunity to inform and entertain waiting customers as well as the chance for applying branding graphics to such devices, naming brand image as a key factor for corporate survival, proposes that the presentation, or bank office design, is an important step in creating and delivering the desired brand image. The exterior design can be utilized to communicate e. g. the history and values of the respective institution. The use of color in combination with texture and finishes is identified to be a simple but very effective factor of differentiation, helping to convey particular messages to the customer and creating a special atmosphere affecting employees and customers likewise. Two types of graphics can be used to establish identity, marketing graphics and branding graphics. While marketing graphics promote products and services, branding graphics enhance brand image and should be used complementary with all marketing activities. Kotler claims, banks have to communicate an image of safety through e. g. the architecture of the building, the interior design and use of building materials. People In the service industries, people are of utmost importance. The service provider is one of the most crucial parts in the provision of services, being for example friendly, knowledgeable and professional. The marketers of the services must select, train and motivate their frontline people. Proper training can make a big difference in the customer satisfaction. According to Kotler, Internal Marketing â€Å"describes the work to train and motivate the employees to serve customers well†. Service marketing requires not only external marketing, but also internal and interactive marketing. For Foss and Stone people in the banking area, and in the service industry in general, are the most important aspect. This is also reinforced by the service marketing triangle. â€Å"Building high value, loyal, lifetime relationships is the most powerful competitive tool a firm possesses†. Management has the task to check, encourage and reward employees for building relationships and checking if the customers are satisfied. As a conclusion, it appears that numerous authors accredit a very important role to people in the differentiation approach. People also have a key part in the general strategy of the bank. An extended CRM model The elements people, the presentation and the process can be considered as a part of the CRM concept as shown before. The authors will thus propose a new model which is considered to be more relevant for a differentiation purpose. The extended model of CRM consists of three aspects. People, as mentioned before, are targeted by and interact in the IM, TQM, relationship marketing and customer care. Since employees and customers are present in all these four elements, the authors of this thesis decided to include them in one section. Kotler identifies service quality as a key to competitive success. Offering a high quality service is thus a way to differentiate from the competitors. Moreover, there is an increasing competition in the service area, and in such environment, firms need to differentiate. Service quality strategy, for example a service quality management program, to differentiate. Moreover, service quality is one of the major values expected by the customers. We focus on the service quality, as a way to differentiate, in their model. The extended CRM model proposed, introduces four factors contributing to increase the service quality: the Internal Marketing, the TQM, the relationship marketing and the customer care. The aim of the Internal Marketing is to increase the quality of the services offered by the firm. Total Quality Management is an organization-wide approach to continuously improving the quality of all the organization’s processes, products and services†. The relationship marketing, consists of building a high value, loyal, lifetime relationship. It is also a competitive tool. The core nature of the relationship obliges the firm to improve its service quality. Indeed, keeping the customer loyal or building a long term relation provokes a high service quality. Reducing the loss of customers, attracting new customers and improving customers and employees satisfaction are three of the aims of the customer care. A consequence of these aims is an improved service quality. As a result, the authors of the thesis consider internal marketing, TQM, relationship marketing and customer care as subprograms allowing service quality. Therefore service quality is the major objective also in a CRM concept. All parts dealing with the internal marketing, customer care, relationship marketing and TQM are considered as primary differentiation tools. They allow for proposing a good service quality which is the major way of differentiation for banks Presentation and Process are not considered by as important as the people aspect. They will then be presented accordingly as secondary tools of differentiation. Conclusion The human element is a major factor of differentiation. As a consequence, a people-based marketing approach has been identified by the authors to be relevant for this study: the Customer Relationship Management (CRM). There are different factors influencing the basic CRM concept: internal marketing, customer care, Total Quality Management, overall marketing and relationship marketing. The way and to which extent service companies approach and deal with these concepts will eventually create unique organizations that stand out from their competitors. Additionally, the writers of the thesis present the three additional P’s stated in e. g. Kotler , especially adapted for the service area: Process, Presentation and People. The three new P’s can be related and included into the CRM concept, extending the initial model to a more complete one that can be applied to this underlying study. Existing theory from established researchers does not provide for achieving truly outstanding characteristics for a retail bank. The reason for this may be found in the general image of a bank representing trust and a sense of seriousness. Airlines (Southwest Airlines) for example or restaurants (McDonalds) can contain an image of fun and still operate profitable, thereby being very different than their respective competitors. The number of banks differentiating to such extents can be estimated to be rather small. Banks differentiate within smaller dimensions, being able to retain an image of trustworthiness and seriousness. Secondary tools of differentiation Process SBI customers have access to service in all SBI branches. Additionally, every branch offers all SBI services (except few), no matter what size or location. All branches are operating independently and are responsible for their operations. In case a branch needs help, it can request different kind of support which will then be provided by the regional banks. The goal is that every branch has to manage the customers who are in the area of their â€Å"church tower† The branches of SBI offer similar services at every branch. However, some special need for example a single business with a large amount of export transactions might not find the service they need at some smaller branch offices, due to the non profitability of offering such a service for a single customer, customers can access all services provided at any offices: Basic services are provided by all branches of SBI, no matter what size, but specialized services like e. g. corporate advisors are available on request in smaller branches. The special competence is provided by regional headquarters. Presentation SBI does not use the physical design of its facilities to differentiate. As with almost all decisions, every branch is different and responsible for itself. The autonomy of branches is represented by some completely different designs between SBI branches. There is e. g. a futuristically designed SBI office in some in India and abroad, still having a rather old fashioned design. Each office has to justify investments like facility design according to its profitability. The design of the branches of SBI should be characterized as similar, because, customers should recognize the bank they enter no matter which branch they visit. SBI should pay special attention to the design of its branches, for example, all offices should use specific colors and similar materials.. As a consequence, â€Å"when you go to the SBI branch, you can recognize the SBI branch [†¦] you feel home†, personal communication, SBI should use the presentation to differentiate from its competitors. SBI should come with a branch design policy, but does not enforce it at any cost, due to the belief that it is not economically reasonable. However, when branches are refurbished, the design policy has to be followed.

spanking as discipline pro Essays

spanking as discipline pro Essays spanking as discipline pro Paper spanking as discipline pro Paper Spanking, although controversial is an effective form of discipline for children. Parents and parents to be who are undecided about whether spanking is an acceptable form of discipline should first get educated on what spanking is. A good first step would be learning the meaning of spanking. Equally as important is, knowing what is considered a spanking, as well as, when spanking becomes abuse. In addition, knowing the ways spanking may benefit children would help solidify spanking as the best option for discipline. Spanking as defined by oxford dictionary is, the act of slapping especially on the uttocks as punishment for children. Taking into consideration that no two children are the same the recommended ages for spanking are between 3years of age up to the mid-teens. Any type of physical discipline like spanking before age three is discouraged, children younger than age three cannot communicate well enough to know right from wrong. In contrast, it is understood that teen agers know right from wrong so, parents may benefit from professional help if behavioral issues continue into the late teen years. In summary, spanking is the use of an open hand to slap the lothed buttocks of a child between the ages of 3 and 15. Spanking for disciplinary reasons is done with an open hand, the use of a foreign object could easily be seen as abuse. For example, the use ofa paddle may result in bruising or muscle damage. In fact, any action which may have permanent effects such as, punching, shaking, striking the face, or even pulling the ear would be considered abuse not discipline. Also, in contrast to abuse, the time spent in the act will be minimal, usually lasting only seconds. To summarize, a properly administered panking, should only be done with an open hand, result in mild discomfort, slight redness to the area and should be only seconds in duration. The benefits of spanking are many and of great value. First, as a result of this type discipline being of such short duration, the family can spend more time together. Second, is the enhanced ability to identify and respect authority, a trait that could be useful in the workplace. Third, consider that learning how to accept responsibility and the consequences of actions may lead to better planning abilities. Furthermore, a panking could save a childs life. Had it not been for the memory of a spanking, Johnny would have ran into oncoming traffic in pursuit of a ball. In conclusion, the benefits of spanking as a form of discipline stretch far and wide. Valuable lessons learned like, respecting authority, thinking before acting and learning from mistakes, make children better equipped to handle adulthood. Furthermore, these children tend to become more productive members of society. Subsequently, becoming positive, productive members of society they contribute to a discipline for children.

Does A Star is Born Represent the Real Judy Garland Essay

Does A Star is Born Represent the Real Judy Garland - Essay Example The story is used as a Hollywood flick to grab the attention of the audience and to create a strong basis to help with advertising and production of the film. The concepts that are approached in â€Å"A Star is Born† comes from the ideology of asking Garland to perform after she had not produced a movie for over four years. This particular method is one which immediately grabbed attention, specifically because those in public were interested in what had happened to the young actress since her growth and fame. This approach drew the attention of society and was able to form a sense of culture and ideologies around the actress that everyone had loved as one of the brightest of Hollywood. Since this was the main ideology, Hollywood attempted to change the main approaches which were taken while trying to highlight Garland as one that had continuous success with every part of her life (Haver, 7). The need to enhance the publicity of the movie was followed with trying to highlight G arland as a success story. The first part of the movie, which is inclusive of Nelson helping Garland to get her start in the movies and to build her success with her first musical are parts of Garland’s career that were true. ... r first movie and went and out of fame, specifically which could be seen with the decision not to make a film in four years and the problems which occurred with some of her later films in terms of critiques and acting styles. The double standard which was a part of her career, including the heightened success and the lower aspects, were not highlighted in the movie and only were able to show the positive parts of her career (McGilligan, 217). The other parts of Garland’s life were fictional, specifically with the relationship that was highlighted throughout the story and the effects which this had on the character of Garland. Norman is the husband of Garland who helps her to get her start as a famous actress. However, in doing so, he loses his prestige as an actor. He moves into gambling, drinking and other lifestyle dependencies that cause Garland to be the main character of him in the household. This leads him to acting up on stage as a drunk, being arrested for gambling and continuing to use drugs. This also leads to his tragedy of committing suicide because of his downfall. These particular concepts are a reflection of Garland; however, it was Garland who had the several problems. She was known to be millions of dollars in debt, went through four divorces and was on drugs as well as faced several illnesses throughout her life. She gave birth to three children during her marriages; however, she remained caught in between the illnesses, stardom and problems with the several drugs and other influences that were surrounding her personal life (Clarke, 5). The several known facts about Garland’s life were not presented in the film. Instead, Garland is seen in â€Å"A Star is Born† as one who only carries the problems of her husband. She is seen as wealthy, takes care

Project proposal ( Information System) Essay Example | Topics and Well Written Essays - 500 words

Project proposal ( Information System) - Essay Example As in case of Starbucks, they made their inventory tracking and monitoring easier by the use of RFID tags. RFID-enabled deliveries to Starbucks stores would make after-hours deliveries possible and allow employees to focus on customers, rather than shipments when they are received. (www.rfidgazzette.org) The management of distribution and supplies among various outlets is a problem under manual systems whereas with the use of IT and information systems for managing inventory and distribution, the company can make all distribution decisions and policies in a convenient and efficient manner. Easy tracking facilities and accurate tracing features allow for runtime monitoring and planning of inventories and their distributions in different regions and outlets. The data management and entry is all automated whereas the RFID tags will carry the information which will be updated with the transportation of inventory pack from one place to another. This will provide an updated view of all inventories at any point in time. Keeping track of sales that take place at any outlet is very critical for CharredDregs coffee company.

Explain the role of Fillicle Stimulating Hormone (FSH), Lutenising Essay

Explain the role of Fillicle Stimulating Hormone (FSH), Lutenising Hormone, Oestrogen and Progesterone in the menstural cycle - Essay Example The reproductive system of females is quite different from males. In females the egg production is a periodic or cyclic activity (menstrual cycle) while in males the production of sperms is a continuous process and never stops after they hit puberty till the time they die. In human females the periodic reproductive menstrual cycle is controlled by certain hormones and is completed in approximately twenty eight days causing changes in structure as well as the function of the entire reproductive system. The menstrual cycle in total comprises of the ovarian cycle linked with ovaries and the uterine cycle linked with uterus. We can divide the menstrual cycle into four main phases which are: The pituitary gland naturally produces the follicle stimulating hormone which is secreted in blood. By the name we can very well guess that this follicle stimulating hormone is linked with the follicle phase. The hormone is mainly responsible for the growth of the ovarian follicle or for stimulating the development of several primary follicles and also for stimulating the ovary to produce its own hormone which is called the oestrogen from the ovarian follicles which degenerate during the initial process of follicle phase (follicle atresia) and the oestrogen then is responsible for the thickening and vascularizing of the endometrium (uterus wall) before the process of ovulation actually starts and at the same time inhibits the pituitary to stop the production of follicle stimulating hormone. In males, the follicle stimulating hormone is also plays an important role in the production of sperm by supporting steroli cells in their function.(the menstrual cycle1993; Mayo Clinic 2011; R. Bowen 2004) When the level of the follicle stimulating hormone becomes less while the level of estrogen increases the pituitary gland secretes another hormone which is

Malaysia Administration System

Malaysia Administration System Introduction Malaysia, Malaysia (Malaysia) for short, is one of the Southeast Asia by thirteen states and three federal systems composed of district federal countries. Kuala Lumpur, the federal government is located in the city. August 31, 1957 (Ding You years) independence. Western half is located in the Malay Peninsula, often referred to as the west, the north Thailand, and south across the Johor strait, as opposed to a Singapore and Indonesias Riau islands; The eastern half is often referred to as the east horse, south Kalimantan, Indonesia. As early as the 6th century BC, and now the Malaysian region to establish a Kedah kingdom. 14 real Malacca kingdom centered in Malacca, the unification of most of the Malay Peninsula. 1511 Portugal conquered the Malacca. World War II, the United Kingdom, such as the Penang Malay maharaja 9 merges it to federal, Singapore as an independent British colony. Federated Malay States in 1957 independence, the Federated Malay States in 1963 with Singapore, Sarawak, and Sabah merged to form Malaysia. 1965 Singapore quit forming the current Malaysia. The members of the British Commonwealth, the non-aligned movement and members of the organization of the Islamic conference, is also one of the founding of the association of Southeast Asian nations countries. Mainly involved in military action defense alliance with the five countries and the United Nations peacekeeping operations. Administrative structure in Malaysia 2.1 The legislative branch 2.1.1 at the federal level YDPA Malaysian Supreme Head of State as head of state, commander in chief of the armed forces and Islamic leaders from the nine hereditary rulers of the meeting in accordance with the candidacy of Sudan Sudan Aging’s age and became drawn up the list, the highest elected a seniority Sudanese head of state, a term of five years. Supreme Head of State is the head of state has the legal status of the Federal Constitution and the Act of Parliament expressly bar out of his country representative for Malaysia, the highest legislative and executive decision-makers. Senate A total of 69 members of the Malaysian Senate, where 26 is indirectly elected by the state legislature elections in 13 states, in addition to the 44 heads of state from the federal government to the highest recommended for appointment. Senators must be over 30 years of the Federation of Malaysia citizen, a total term of three years, regardless of whether the continuous average term renewable only once. House of representative A total of 193 members must be at least 21 years of age and shall not serve on the Members. Under the five-year term of office of members must be regular and comprehensive re-election, Mr. Election, when voters in the constituency Members voting seats, mining relative majority decision made it past the post voting. Known as â€Å"YANG BERHORMAT†. Responsible by Congress in Malaysia, the task of amending the law and repeal, directly under the Aging of Malaysia. 2.1.2 at the state level Rules Heads of state leaders is highest, according to the countrys constitution, the head of state has the right to recommend the principles of action, as well as the rules and the powers to appoint and YDB YDN, for the appointment of the Minister of State has certain rights. You can refuse the request and agreed to dissolve the legislature of each state, but for the requirements of the rulers of the Council, to be met, the head of the Malaysian Islamic religion give respect and satisfaction. State legislative assembly 13 states, each state has its own legislative assembly, every member is elected by the people themselves, this tradition has been maintained for five years, the election over the age of 21 people, they were known as YANG BERHORMAT Council is responsible for the drafting of the legislation, and debate on them, but a person cannot be at the same time a representative number of constituency, representing a district only. 2.2 The Executive branch 2.2.1 at the federal level YDPA YDPA 2.1.1 has been discussed in the above Council of the rules Council of the rules is made up of nine rulers in Malaysia and four appointed head of the state under the federal constitution 38 provisions of the Council, the main functions of the parliament every 5 years is selected in the nine hereditary ruler supreme head of state and deputy supreme head of state, but only the hereditary ruler has the supreme head of state of the right to vote and the right to vote. Other features include a duty to protect the legal status of the Malay and Islam; Involving Islam problem on a nationwide scale for final decisions; In addition, the ruler has the supreme legislative power, the highest judicial power and administrative power, but in actual operation, he must consult the opinions of the prime minister. Prime minister Malaysias prime minister was the leader of the administrative organ in Malaysia. In Malaysia to clarify in the constitution, the supreme head of state must appoint a congressional majority support members of the House of Commons as prime minister. 1. From the parliaments lower House of Commons 2. Be born in Malaysia citizens Cabinet Malaysias cabinet is the Malaysian government administrative department, the cabinet led by the prime minister and the cabinet minister report to congress on a regular basis. Cabinet members must be elected by congress, which was given the highest approval rating of MPS in the house of Commons will be elevated to the prime minister, then according to the list submitted by prime minister elected cabinet ministers and deputy ministers, cabinet ministers in a cabinet meeting every Wednesday on a regular basis. 2.2.2 at the state level Rules/YDN Malaysia is a constitutional monarchy in the country. Its symbolic head of state rulers called Malaysia (Yang Di-Pertuan Agong), namely the Agong, by seven Malay States Johor, Selangor, Kedah, Perak, Kelantan, Pahang, Tengah House Sultan (Sultan), plus serious side Raja Negeri Sembilan and Perlis served in rotation, either every 5 years. Four other states in the state by the symbolic head of state (Yang Di-Pertuan Negeri) rule. State executive council State cabinet-is headed by minter bear.States that do not have a sultan-is headed by chief minister.Peninsular-state executive council.Sabah-cabinet, Sarawak-supreme council.Responsible for forming various state policies, Implement them and acts as advisor to the ruler.Members of state cabinet head certain portfolios.Practices collective responsibility. Malaysia consists of 13 states and 3 Federal Territories. Federal; Territories: Kuala Lumpur, Island of Labuan, Putrajaya 2.3 Judiciary Malaysias legal and judicial system is complex, Malaysias judicial system is exquisite and meticulous, and it is rooted in the cultural diversity of the colonial history and things. Malaysias judicial system involves many aspects of the legal system in Malaysia; Malaysia ruled by the British for a long time, belong to common law legal system. Criminal justice is an important part of Malaysias judicial system, based on the defendant equality against the judgment of the illegal interrogation officer leading way on the basis of. This system includes three components, namely the court, the prosecuting authority and defense agencies. Its the highest law as the United States constitution of Malaysia. Malaysian court structure can be divided into two parts, namely the Supreme Court and lower court. Lower courts consist of judgment court and district court, but it is the things both impartiality-or otherwise-of the higher court, an appellate court and the federal court. The federal courts pr edecessor was the Supreme Court; it is the highest in the Malaysian legal system of institution and the final court of appeal. The appeals court to Malaysias operation from June 24, 1994 began to take effect. The special court was set up in 1993.Special court will trial all rulers and supreme head of state of civil action. The courts presided over by the federal court, and the other four members, namely what horse two impartiality-or otherwise-of justice and two judges appointed by the Malay rulers conference. A member of the federal court for federal court justices, long appeals courtyard, Malaya, Sabah and Sarawak justice and seven other federal court judges.At present there are 10 in Malaysia the appeals court judge (not including the appeal yard long).The Malayan impartiality-or otherwise-of has 47 judge, Sabah and Sarawak impartiality-or otherwise-of ten judges. In the lower court, there are 60 district court judges, of which 52 in the west, Sabah and Sarawak each four. Judgment court judge has 151, including 122 in the west, ma 10 in Sabah, 18 in Sarawak and 1 in Fujian federal territories.The federal court is the judicial Malaysias supreme leader. The federal court, the appeal judges, west horse yard long, Malaya, federal court judges, the appeals court judge and impartiality-or otherwise-of the judge is the supreme head of state in refer to the advice of the prime minister appointed after meeting and consulting the Malay rulers. 3.0 Explain your country system china The judicial organs of China including the court, procurator ate, public security organs (including the state security organs) and judicial administrative organs and their leading lawyer organization, notary organ, re-education through labor authorities, etc. The peoples court is an organ of the state trial; the peoples procurator ate is the national legal supervision organs; the public security organ is the public security organ, is responsible for the investigation of criminal cases, detention or pre-qualification and arrests. Has the nature of the public security organ of a state security organ; Main responsibility is to management of the judicial administrative organs of the prisons and labor camps, lawyers, notarization, peoples mediation and legal publicity and education, etc. Judicial organization refers to the lawyers, notarization, and the arbitration organization. The latter is not the judicial organs, are essential in the judicial system and links. 4.0 Comparison with Malaysia Malaysia government and society: Constitutional monarchy (a constitutional monarchy is divided into dual monarchy and a parliamentary monarchy, Malaysia belong to parliament monarchy). Rulers meeting by the Johor, Pahang, Selangor, Mei LAN, knight, Deng jail floor, Kelantan, Kedah, glass city nine states of hereditary Sudan and Malacca , Penang, sand, the more, the Shaba of four states of heads of state. Its function is highest in nine hereditary Sudan in turn elected head of state and deputy supreme head of state; Review and promulgated by the national laws and regulations ;Has the final decisions on Islam problem on a nationwide scale; Review involved ethnic Malays and Sabah, sand the privileged status of indigenous peoples and other major problems. Without the consent of the meeting, and shall not by any law rulers of privileged status. China government and society: National nature: the peoples democratic dictatorship of socialist countries. The socialist system is the basic system of the Peoples Republic of China. The socialist system by any organization or individual is prohibited destruction. â€Å"After Hong Kong and Macao return, because of historical reasons, the implementation of one country, two systems, namely in mainland China practices the socialist system and capitalist system in Hong Kong and Macao shall, because civil war failed to unify Taiwan, presently for the system of capitalism, return also suitable for the one country, two systems, still practice the system of capitalism. Government: the peoples congress system. PRC in article 2 of regulation: all power in the Peoples Republic of China belongs to the people. The people exercise state power of authority is the National Peoples Congress and local peoples congresses at various levels. The people in accordance with the law, through various channels and forms, management of state affairs, manage economic and cultural undertakings and social affairs management. 5.0 Conclusion Malaysias special political economic and cultural background as well as for its unique geographical position, one of the world famous. Malaysia pursues an independent foreign policy, neutral and nonaligned. Priority to the development of foreign policy cornerstone for the association of south-east Asian nationsASEAN), relations with ASEAN countries. Great importance to developing relations with power. Is a member of the commonwealth, and its member states more exchanges? With the establishment of diplomatic ties in 131 countries. 6.0 Reference list Websites Malaysia History and society, [online] available at: mailto:http://www.cicir.ac.cn/chinese/newsView.aspx?nid=2946, Accessed on 25th NOV 2014 China History and society, [online], available at: mailto:http://www.npc.gov.cn/pc/11_4/2007-12/05/content_1620424.htm, Accessed on 6th DEC 2014 Word count: 2037

Cause and Effect Essay - Christianity Causes Divorce -- Expository Cau

Cause and Effect Essay - Christianity Causes Divorce â€Å"Bible Belt Couples ‘Put Asunder’ More,† the New York Times proclaimed on May 21 of this year: â€Å"The divorce rate in many parts of the Bible Belt is roughly 50% above the national average.† So much for the notion that secularism is to blame for the decline of traditional families, among other frequently lamented social ills. Apparently, in a least a few states, the divorce rate correlates to an excess of piety, not the absence of it. What do we make of this amusing correlation? I doubt that religiosity directly causes divorce, but in some cases it may cause marriage, by condemning premarital sex and cohabitation as sinful; and marriage, of course, is the one indisputable cause of divorce. Marry in haste; divorce when you come to your senses. â€Å"I had this vision that this is just what people do; Get married, have kids and Christ comes back,† one Oklahoma divorcee told the New York Times. She remarried, but a great many Oklahomans apparently prefer living in sin. (Religion may not cause marriage after all.) According to the Times, the number of unmarried cohabitating couples in Oklahoma increased 97 percent in the past ten years. It increased 125 percent in Arkansas and 123 percent in Tennessee. The average national increase in unmarried couples for the same period was 72 percent. Statistics like these are deeply troubling to God-fearing social conservatives like Arkansas Governor Mike Huckabee, who declared a â€Å"marital emergency† in his state; and Oklahoma Governor Frank Keating, who has initiated a multimillion dollar campaign to strengthen marriage by sending publicly funded â€Å"marriage ambassadors† to talk shows and public schools and providing premarital education. ... ...tates, when the Supreme Court held that Mormons could be prosecuted for entering into polygamous marriages. Thus, Judeo-Christian notions of marriage are incorporated into law while historic Mormon beliefs about marriage are criminalized. As Utah polygamist Tom Green recently learned, laws against multiple spouses are still liable to be enforced. Green, who boasted five wives and an estimated twenty-five to thirty children, was convicted of four counts of bigamy (and one count of nonsupport). He was not a particularly sympathetic defendant: one of his wives was only fourteen when he married her, and he could not support all the children he promiscuously fathered. So, it’s probably not fair to say he was prosecuted because of his religious beliefs, but he was prosecuted in spite of them. He is not a particularly virtuous man, but he is, after all, a religious one.