TABLE OF CONTENTS
Objectives of the study
Relevant Research Question
Statement of the Hypotheses
Definition of terms
Delimitation (Scope) of the study
Significance of the study
2.2 The Origin of Banking
2.3 Theories Relevant to Evolution of Customer
2.4 Current Literature base on each of the
3.2 Restatement of the Research Question and
3.3 Research Design
3.4 Characteristics of the study
And Sampling Techniques
3.5 Sampling Design and Procedures
3.6 Data Collection Instrument
3.7 Pilot Study test of Validity and
Reliability of the
3.8 Administration of the Data Collection Instrument
3.9 Procedures for Processing/Analyzing
4.2 The study and finding
4.3 Presentation and Analysis of Data
According to Research
4.4 Presentation and Analysis of Data
According to Testing
The study shows the importance of
services rendered to customers and effect on the business activities. To some
managers, developing a strategy for customers and the services may sound like a
waste of time meanwhile, without a strategy you cannot develop a concept of
service to employees or catch conflict between corporate strategy and customer
service, for the strategy makes you know who customers are, how much they value
different aspects of services, how much you spend to satisfy them and how big
the pay offs are likely to be.
It is the customer who determines
what the business is, so one needs to make required attempt to know what
stimulates the interest of customers towards the product offered to them. But
not all organization are bothered about this that is why some of them cannot
effectively compete with others because they cannot manage the services
rendered to their customers. For example
a Bank with many customers are enjoying
not minding what it cost them.
The contributions of customers are very
important as the business is purposely created because of them. So one can see
that services rendered should be studied and not neglected as it has the impact
of excellence on the organization.
1.2 PROBLEM ANALYSIS
Service - oriented firms like the
Banking Industry are faced with the problems of getting and retaining
customers. The survival of any business organization depends on the
satisfaction of customers. Customers who determine the future of an
organization. The turnover of any business is contingent on the patronage of
its target markets hence service industries must give considerable attention to
effective customer service.
One of the classic definitions of
marketing is that it is concerned with getting and keeping customers. In
practice, most organization marketing efforts focus on getting customers rather
than keeping them. Thus an examination of the typical marketing plan will show
a bias towards increasing market share rather than towards customer retention.
Whilst the new customers are always welcome in any business, it has to be
realized that an existing customer provides a higher profit contribution and
has the potential grow in terms of the value and frequency of purchases.
1.3 OBJECTIVES OF THE STUDY
The main objective of the study is to
show the impact of effective customer service on organizational performance.
Customers tend to increase and are retained when they are satisfied with the
quality of services rendered to them. Specifically, it seeks to achieve the
1. To determine the methods used
by Banks to rendered effective services to their customer.
evaluate critically the effectiveness of these methods.
3. To make necessary
recommendations for/towards improving all these services.
1.4 RELEVANT RESEARCH QUESTIONS
1. Would meeting desired customers’
needs create customer satisfaction?
customer's satisfaction lead to customer patronage?
consistent patronage influence turnover?
1.5 STATEMENT OF THE HYPOTHESES
Ho- Meeting customer need would not
create customer satisfaction.
H1- Meeting customer
need would create customer satisfaction.
Ho- Customer satisfaction will not
lead to customer patronage.
satisfaction will lead to customer patronage
Ho- Consistent customer patronage
will not influence turn over
Hl- consistent customer patronage
will influence turnover.
1.6 DEFINITION OF TERMS
Customer - Definition of a customer presents a problem in
Banking. There is no statutory
definition of a customer either in Nigeria, Ghana, Sierra Leone, Gambia or
England. A legal decision by Lords Davey on great western Railway versus London
and country bank in 1901 specified the requirement for the conferment of the little
"customer". It was held that a customer is any person who has some
sort of an implication this legal decision is that a customer must operate one
form of account with a banker before he can really be recognized as a customer.
Effectiveness - This is the rate
of doing things right, that is the
power to produce or producing a
Efficiency - This is doing the
right thing in a skillful
manner/way that is, producing quick
and satisfactory result.
Excellence - This is the unusual
goodness or worth.
Patronage - The support/
encouragement given by a person
through his contribution usually with money.
Productivity - This is the rate of efficiency of work, especially in industrial production.
Service - An
activity or benefit that one party can offer to
another, that is essentially in the
ownership of anything.
1.7 DELIMITATION (SCOPE) OF THE STUDY
The study directs its efforts in
finding out the impact of customer service as being a tool for organization
The scope of this research is limited
to Guaranty Trust Bank Plc in Lagos State, one of the new generation Commercial
Banks of eight (8) years outstanding performance and glaringly leading Bank in
the whole country.
The study shall highlight a brief
illustration of how the Bank performs the services rendered to their customers
mostly by the marketing department and customer service unit (CSU).
The result achieved will be used to
generalize the effect of services rendered to customers in other financial
This study is limited to this company
because of the cost factor of reaching other companies, ease and speed of
getting information and being able to consider why its services are
Furthermore, other areas like
financial control; personnel administration shall not be included in this
1.8 SIGNIFICANCE OF THE STUDY
All corporate companies have to face
a basic form that there will be significant difference in profitability between
customers. The challenge to customer service management therefore is first, to
identify the real profitability potentials of customers, and then to develop or
formulate strategies for service that will enhance and improve the
profitability, which is the going concern.
It must be recognized that there are
cost as well as benefits in providing for customer service, [this will be study
in the next chapter] also the appropriate level and mix of service will very
different types of customer needs.
At the end of this study, the
results/finding will be useful guide for most organization in serving their
customer satisfactorily as this, would boost their efficiency and
The result of this study will reveal
that rendering good services to customers will promote the business of the
organization and where customers are satisfied, they will come back for more service which
on the other hand increase the level of productivity in the organization, and
this in turn increase their contribution to the charitable organization in the