04:Explain two ways ALB could improve customer loyalty[6]

[Dania]

ALB is a large bank. It has 300 branches and 5 000 employees. ALB provides a range of financial services to its business customers. As it operates in a competitive market, ALB aims to maintain customer loyalty. Last year ALB’s profit decreased to $3 000m. The Managing Director is analysing ways to reduce ALB’s costs. She also has to decide how new legal controls over employment issues might affect the business. The Government plans to improve protection of employees by changing laws on the minimum wage and health and safety.

04:Explain two ways ALB could improve customer loyalty[6]

Possible KN Points:
>Communicate with customers e.g. newsletters, social media.
>Offer good quality service.
>Train staff.
>Ask for feedback e.g. surveys.
>Resolve complaints quickly.
>Offer rewards/ loyalty programs.
>Offer extra services such as online/mobile phone app.