Customer Satisfaction - darum geht es in dieser Arbeit. Anhand einer führenden australischen Bank zeigt diese Arbeit, wie Kundenzufriedenheit entsteht, wie man sie beeinflusst und verbessern kann.
Dies umfasst die Problemerkennung, Situationsanalyse, Ermittlung von diversen Strategien zur Behebung des Kundenzufriedenheitsproblems, Evaluierung der Strategien auf Realisierbarkeit und Erfolgsprognose, sowie Anweisungen zur Umsetzung im operationellen Geschäft.
The objective of this report is to increase customer satisfaction of Commonwealth Bank of Australia’s (CBA) first homebuyers mortgage. In regards to this, CBA currently has a low level of customer satisfaction in comparison with the other main banks. Based on the conceptual framework, customers tend to feel dissatisfied with the mortgage service provided by CBA due to the period of time for the mortgage’s approval process as well as the lack of convenience and flexibility of CBA’s services. In an effort to increase satisfaction, the current situation is reviewed resulting in access points to CBA’s weakness in customer satisfaction. Several potential strategies are introduced to tackle the problem. The most promising ones are describes and evaluated in terms of costs and effectiveness to increase customer satisfaction. Finally a “one-stop mortgage centre”-strategy is recommended for implementation in order to decrease customers’ non-financial costs and increase their convenience in first home buyer mortgages.
Table of Contents
SITUATION AUDIT
4. Macro-Environmental Analysis
5. Competition
5. SWOT Analysis
9. Segmentation & Target Market
11. PROBLEM STATEMENT AND ANALYSIS
11. The Managerial Problem
12. The Central Service Problem
13. CUSTOMER SATISFACTION STRATEGIES
13. Conceptual Framework
16. Service Strategies
17. Alternative Strategies
19. EVALUATION CRITERIA
22. ANALYSIS OF THE SERVICE STRATEGIES
24. RECOMMENDATIONS
26. IMPLEMENTATION
Research Objectives and Core Themes
The primary objective of this report is to address and enhance customer satisfaction for the Commonwealth Bank of Australia's (CBA) first home buyer mortgage products, which currently suffer from lower satisfaction levels compared to main competitors due to slow approval processes and a lack of convenience.
- Analysis of the current competitive mortgage landscape and CBA's market position.
- Evaluation of macro-environmental factors using PEST analysis.
- Identification of service bottlenecks through SWOT analysis and segment targeting.
- Development and financial evaluation of strategic improvements, specifically focusing on "One-Stop Mortgage Centres."
Excerpt from the Publication
Strategy 2: One-Stop Mortgage Centre
One-Stop Mortgage Centre is a strategy, based on providing the whole range of services that are required for settling down to FHBs at one single location. The real estate agent will be the first person in contact with FHBs, when they decide to buy an own home. Afterwards they search for financing (mortgage) and even later for legal assistance to transfer the ownership of the home. It requires a joint venture of a real-estate company, CBA and legal firms targeting a reduction of customers’ efforts (and costs) of searching by providing all three services under one roof. The customer saves much time, it is very convenient and hassle free. Furthermore the customers can directly be tied with the CBA mortgage consultant while looking around for a house with the real-estate agent. That is even before they consider using another bank or mortgage provider for the service. This is an opportunity to attract more FHB and increase market shares.
Summary of Chapters
SITUATION AUDIT: This chapter reviews CBA's current market standing and provides an analysis of the external environment and competitive landscape regarding mortgage services.
PROBLEM STATEMENT AND ANALYSIS: The chapter identifies the core managerial and service-related issues, specifically highlighting low customer satisfaction levels and service differentiation challenges.
CUSTOMER SATISFACTION STRATEGIES: This section establishes the conceptual framework for customer expectations and proposes various strategies to improve mortgage service delivery.
EVALUATION CRITERIA: This chapter lists the specific metrics and factors used to assess the feasibility, costs, and effectiveness of proposed service strategies.
ANALYSIS OF THE SERVICE STRATEGIES: This section provides a detailed comparative evaluation of the identified strategies, weighing their strengths and weaknesses.
RECOMMENDATIONS: The chapter concludes that the "One-Stop Mortgage Centre" is the most effective strategy and outlines the rationale for its implementation.
IMPLEMENTATION: This final chapter details the operational rollout of the One-Stop Mortgage Centres, including logistics, partner selection, and scheduling.
Keywords
Customer Satisfaction, Mortgage Banking, First Home Buyer, CBA, Service Quality, One-Stop Mortgage Centre, PEST Analysis, SWOT Analysis, Mortgage Approval, Service Strategy, Perceived Value, Market Share, Financial Services, Customer Convenience, Service Encounter
Frequently Asked Questions
What is the core focus of this publication?
The report focuses on improving customer satisfaction specifically for first home buyer mortgage loans at the Commonwealth Bank of Australia.
What are the primary themes covered in this report?
Key themes include competitive analysis, the application of marketing mix variables to financial services, service encounter management, and strategic operational improvements.
What is the main goal of the research presented?
The primary goal is to increase customer satisfaction levels to remain competitive and increase market share by reducing non-financial costs for customers.
Which scientific methodology is utilized?
The author employs a situation audit, PEST and SWOT analyses, and a "disconfirmation of expectations" conceptual framework to evaluate and propose strategies.
What topics are discussed in the main body?
The body covers macro-environmental influences, the current state of CBA's mortgage services, potential strategies like extended business hours or one-stop centers, and their feasibility.
Which keywords best describe this study?
Core keywords include customer satisfaction, mortgage banking, first home buyer, service quality, and strategic operational implementation.
Why are One-Stop Mortgage Centres considered a superior strategy?
They are deemed superior because they reduce customer effort and costs by bundling real estate, financing, and legal services under one roof, thereby providing higher value.
How does the author address legal restrictions in Western Australia?
The author suggests that by entering a joint venture where the real estate partner acts as the primary employer, the bank can circumvent certain legislative restrictions regarding Sunday operations.
- Quote paper
- Markus Koop (Author), 2007, Improvement of Customer Satisfaction in Mortgage Banking, Munich, GRIN Verlag, https://www.grin.com/document/138783
