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Retaining customer loyalty

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What ways are there that allow an executive officer of a bank to retain customer loyalty while his competitors provide online banking to their customers. How would you address this issue/what recommendations would you give?

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Solution Summary

This solution discusses how to retain customer loyalty and why it's important.

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It is not possible to find any permanent substitutes for online services like improved phone banking because online services is the most important indicator of innovation in today's banking industry. However the bank can retain some of the customers with different traditional promotions and account upgrades, like by adding new ...

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Umut Oltulu, MBA
Education
  • BSc, Dokuz Eylul University
  • MBA, Texas A&M University-Kingsville
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