Marketing of Private Commercial

                                           CHAPTER-1

1.1  INTRODUCTION

Service business, like other business, considers customers as kings and queens. Their competitive power in the industry, even their existence in the same depends on their acceptability to present and potential customers. Customers’ acceptability to any company is the outcome of the ability of that company to provide the customers with superior value. Customers’ value again depends on the level of perception of the service they have received. Whenever, after consumption of service, the perceive level of service customer receive, is perceive less than the expected level of service, the customers become this satisfy. When customers are this satisfy to the respective service providers they may either do nothing or may simply switch to any other service provider of that industry.

Commercial Banks are the most important functionary of financial system of a country. They play a dynamic role in the economic development of a nation through mobilization of savings and allocation of credit to productive sectors.  All the policies, programmers and strategies of a Bank must be formulated and implemented to satisfy the needs of the customers in the most efficient manner.

Service is any activities or benefit that one party can offer to another that is essentially intangible and does not result in the ownership of anything. Service is completely experience based, intangible, no storable and simultaneous. It is given in a specific location. Moreover it is different from products. Customer service includes the following and much more:

Products, Services, Employees etc.

ð    Communicating effectively and if necessary instantly with customers at different levels on different matters.

ð    Being close to customers physically or otherwise.

ð    Processing customer order efficiently and instantly.

ð    Delivering service as per schedule

ð    Gaining confidence and trust of customers.

ð    Keeping customers satisfaction.

ð    Listening to customer complaints and taking action on them.

ð    Finding out new requirements of customers and endeavoring to fulfill these requirements.

Mercantile Bank Limited is one of the reputed commercial private Bank of Bangladesh. There are 20 branches of Mercantile Bank Ltd. in Bangladesh and Rajshahi branch is one of the branches. It provides services to thousands of people of Rajshahi district with the activities of special investment as well as general banking, foreign exchange and loan & advance activities. It is necessary to find out the nature of the service facilities and the ways of improving customer services.

1.2 Importance of the study:

Marketing is the performance of the business activities that direct the flow of goods and service from producer to customer or user in order to satisfy customer and accomplish the firm objectives. In order to achieve the customer’s satisfaction product must be available in the right from of the right firm in the right place and the number that will allow customer to obtain possession of the product.

       Bank is the symbol of financial stability of a country. It is an institute which is responsible for safeguarding the financial stability of a country. In modern age the role of Banks is very wide as well as comprehensive. Mercantile Bank Limited contributes over all the fields like agriculture, small and middle industry. It take part Trade and commerce, Foreign exchange and foreign trade, poverty alleviation etc. and much more. In last year it can bring a significant change in different internal policies as well as introduce some new financial products. The new financial products are: 1) Life long pension scheme. 2) Consumer credit scheme. 3) Small loan scheme 4) Lease financing 5) doctor’s credit scheme 6) Rural development scheme 7) Women Entrepreneur Development scheme 8) Special saving scheme for service holders etc. So it is very much important to find out the problem and prospects of customer services of Mercantile Bank Limited, Rajshahi Branch.

        After knowing customer opinion about service and Bank performance of Mercantile Bank Limited, Rajshahi Branch will be capable to achieve customer satisfaction. Which problem we have find out from the SWOT analysis the corporate branch will take initiation to solve these problems and gives guideline to Rajshahi branch to be more profitable to ensure how to solve problem.

       This study will be helpful for the students of MBA (major in Marketing) to gather practical business knowledge along with their theoretical knowledge. It will also enrich the existing literature of comparative business.