Implementation of customer satisfaction strategies in Kenya commercial bank.

Abstract

On the other hand strategy implementation as an activity embraces all of those actions that are necessary to put a strategy into practice. Banking institutions are building their success on a long-term customer relationship by seeking customer satisfaction strategies. The main emphasis in management and marketing has focus on retaining and winning new customers. There has been no known study that has its focus on determining customer satisfaction strategy implementation in commercial bank in Kenya. This study therefore sought to fill the existence knowledge gap by assessing customer satisfaction strategy implementation in KCB. This was a case study aimed at getting detailed information regarding the implementation of customer satisfaction strategies. The researcher used both primary and secondary data. Primary data was collected using self-administered drop and pick interview guide which had open-ended questions. Content analysis was used to analyze data collected. This is a systematic detailed qualitative description of the objectives of the study From the findings, the study established that the bank implements instant customer demanded products, offer good customer service, have wide networking that is efficient and effective to the clients, conduct personal selling strategies, personal branding and apply marketing strategies as forms of customer satisfaction strategies. The study established that KCB strategically creates the value through pricing by way of applying price/cost reduction techniques. This is evidenced by how the bank has replaced the traditional pricing with a holistic data driven approach that includes customers’ needs, preferences, behaviors, purchasing patterns and price sensitivity. From the findings, the study concluded that customer satisfaction is an important strategy in maintaining customers, particularly those in banking industry. Enhancing the importance of strategy formulation and implementation through adoption of various customer satisfaction strategies is an advantage to a bank. This enables the bank to offer excellent customer service by embracing cost reduction approaches that deliver price productivity benefits that are difficult for competitors to duplicate. Identifying profitable customers and then customize marketing on the basis of customer value enables many banks to punch above their weight in today’s competitive environment.