Commerce bank was a bank that came into existence in 1865. It was started by Francis Reid Long in Kansas City. From that day the bank has grown and evolved into the enterprise that it is today. The intention of this paper is to analyze, in brief, the trends and situations that have come to pass since then.
It was proposed to improve the service experience for customers waiting in branches. Competitors were beginning to adopt some of Commerce's basic service offerings and to emphasize the human side of service with advertising and marketing campaigns. With some of its competitors offering better rates, Commerce, if it had to stay ahead, had to ensure that its value proposition was clear in customer's mind. Commerce deliberately competed on service. The question was how far should it take differentiating on service?
[...] Commerce wanted raving enthusiasts, people who would get a kick out of providing great service. Recruitment was very strict, as Commerce conducted 2000 interviews for 40 positions in Manhattan. Retailtainment: It was proposed to improve the service experience for customers waiting in branches. Competitors were beginning to adopt some of Commerce's basic service offerings and to emphasize the human side of service with advertising and marketing campaigns. With some of its competitors offering better rates, Commerce, if it was to stay ahead, had to ensure that its value proposition was clear in customer's mind. [...]
[...] The Commerce Bank: The following points show how the bank was differed from the other players in serving the customers and how the bank grown periodically. Mr. Hill started a community bank in southern New Jersey with $ 1.5 million, and since had grown it, without acquisitions, into several cities, including New York. Branches were open from 7:30 AM to 8:00 PM during the week days and modified hours on Saturday and Sunday. If the branch was in a busy location, it might be open as late as midnight. [...]
[...] Then the bank needed to be able to measure the impact of that service on both external and internal customers. Now the program is called- “managing for bank's terminology for process improvement. WOW was interwoven with the organization in many ways. WOW stickers were awarded to employees who wowed customers, which could be redeemed for merchandise. Every year, since 1997, Commerce held its WOW Awards to honor outstanding service performers for the year in a variety of category. WOW was an integral part of the training process. [...]
[...] However this was important because Commerce centered on service and its entire success was dependent upon service. Recommendations: 1. In addition to concentrating on entertaining customers while waiting in the bank, concentrate on how to lower the waiting time. Increase employee productivity and have only one or two executives to greet the customers, not many Allow events to change you- the prerequisites for growth: the openness to experience events and the willingness to be changed by them Forget about good- Good is a known quantity. [...]
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