AN INVESTIGATION INTO THE MARKETING STRATEGIES USED BY COMMERCIAL BANKS IN MANAGING SERVICE BREAKDOWN AMONG SME CUSTOMERS. SOME EXPERIENCES IN KENYA
ABSTRACT
This study sought to establish the strategies used by commercial banks in Kenya in Managing Service Breakdown among SME Customers. The study focused on five commercial banks namely Barclays, Kenya Commercial Bank, Standard Chartered, Equity and Fina  bank which currently offer services to SME customers. A self-administered open and closed ended questionnaire was utilized in collecting primary data from the field. Data collected was analyzed using descriptive statistics. The study found that lack of clear communication with customers, long procedures; intrusive documentation and lack of flexibility are some of the causes resulting in service breakdown. It also established that the main strategies used by banks to deal with services breakdown include; designing services to fit the needs of customers; ensuring that services are always oh high quality without compromise; putting relevant systems in place; having competent employees in place; on time delivery of services and ensuring that services are driven by customers to increase acceptance and satisfaction.
Key words: Services Break down, strategies
CHAPTER ONE
INTRODUCTION
This study sought to examine the strategies used by Commercial banks in Kenya to deal with Service brieakdown. The study had two objectives, namely To identify the causes of service breakdown in commercial banks in Kenya, and To establish the specific marketing strategies used by commercial banks in Kenya in managing service break down
A company’s strategy consists of the business approaches and initiatives it undertakes to attract customers and fulfill their expectations, to withstand competitive pressures and to strengthen its market position. These strategies provide opportunities for the organization to respond to the various challenges within its operating environment. Firms also develop strategies to enable them seize strategic initiatives and maintain a competitive edge in the market (Porter, 1985). The competitive aim is to do a significantly better job to its customers. The success of every organization is determined by its responsiveness to the customer needs.
The competitive aim is to do a significantly better job of providing what customers are looking for, thereby enabling the company to earn a competitive advantage and outsmart rivals in the market place. The core of a company’s marketing strategy consists of its internal initiatives to deliver satisfaction to customers but also includes offensive and defensive moves to counter the maneuvering of rivals, actions to shift resources around to improve the firm’s long term competitive capabilities and market position, and tactical efforts to respond to prevailing market conditions. Assuming that there are a number of providers, customers will choose which offering to accept on their perception of value-for-money.
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AN INVESTIGATION INTO THE MARKETING STRATEGIES USED BY COMMERCIAL BANKS IN MANAGING SERVICE BREAKDOWN AMONG SME CUSTOMERS. SOME EXPERIENCES IN KENYA
