Service Marketing Management (Mkt202) Group Project An Analysis Report On The Flower Of Service Of Agribank.pdf

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FPT UNIVERSITY DA NANG

<b>COURSE: Service Marketing Management (MKT202)</b>

<b>GROUP PROJECT: An analysis report on the flower ofservice of Agribank</b>

<b>Class: BA17B02Members:1.Lê Ngọc Duy - DS170333</b>

<b>2.Đoàn Thảo Anh Thư – DS1701873.Phạm Tuyết Anh - DS1703214.Đinh Ngọc Hà - DS170325</b>

<b>5.Nguyễn Thị Nguyên Trà - DS1703656.Nguyễn Vũ Gia Hân – DS170437Instructor: Ms. Trang</b>

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32. Agribank’s services...

3<b>C. Analyzing: the flower of service</b>1. Facilitating elements...

31.1 Information...

31.1.1 Intermediaries provide information to customers...

41.1.2. Service information provided...

4...

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<b>D. Identify problems in the flower of service and suggest solutions</b>

3.Payment

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<b>A. Executive summary</b>

Agribank, also known as the Bank for Agriculture and Rural Development of Vietnam,specializes in providing financial services to agricultural and rural industries. In thisreport, we choose the service of Agribank to analyze the flower of service, highlightingthe good as well as the bad side, thereby suggesting solutions based on the above factorsand thereby improving the service quality of the bank. Provide customer satisfaction aswell as a good experience.

<b>B. Introduction</b>

<b>1. Company’s overview: Agribank</b>

- State Bank Agribank, is one of the largest and most important banks in Vietnam.Agribank is regulated by the State Bank of Vietnam and specializes in banking andfinancial services related to agriculture and rural development. (Aribank, n.d)

- Agribank has a nationwide network, with thousands of transaction points and branchesin cities, towns and rural areas. This allows Agribank to reach out to and serve thecommunity of farmers and agribusinesses across the country.

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<b>2. Agribank’s services</b>

- Aiming to support rural and agricultural development, Agribank offers a wide range offinancial products and services. Here are some outstanding services of Agribank:Bank account service, Loan service, Money deposit, Bank card service, Internet Bankingand Mobile Banking, Electronic payment service, Import and export finance service.(Aribank, n.d)

- Besides, there are consulting and asset management services, international paymentservices, Financial services for agriculture and rural area…

<b>C. Analyzing: the flower of service1. Facilitating elements</b>

<b>1.1 Information</b>

<b>1.1.1 Information Provision by Intermediaries</b>

- Agribank utilizes various channels to provide information to customers:

Mobile Agribank Banking: Official website and mobile app for easy access tobanking services and account details.

Leaflets and brochures: Informative materials distributed at transaction locationsto highlight Agribank's services.

Customer Service: Dedicated team is available through hotline and counters toprovide personalized assistance and information.

<b>1.1.2 Service Information Provided</b>

- Agribank ensures customers receive essential information and reminders about personalbanking accounts, including:

Account information: Updates on balances, transactions, and notifications.Policy and service terms: Notifications of changes in interest rates, fees, limits,and security regulations.

Promotions and benefits: Information on special offers and applicable terms.Security and privacy: Reminders to protect personal information and details ofAgribank's data safeguards.

<b>1.2 Order-taking</b>

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- Agribank customers have diverse requests for services like account opening, deposits,withdrawals, fund transfers, insurance purchases, loans, financial consulting, updatingpersonal information, and transaction statements. They can contact Agribank throughmultiple channels for assistance and information exchange.

Online portal: Agribank provides an online portal or self-service platform wherecustomers can inquire about their specific issues. These portals offer a convenientway for customers to manage their accounts and initiate transactions.

Customer service centres: Agribank operates physical customer service centreswhere customers can visit to place orders or conduct in person. These centresprovide direct interactions and support from Agribank staff.

- Agribank's order-taking process ensures accurate capture of customer information andrequests with minimal errors. Well-defined processes, robust information systems, andmodern technology facilitate fast and smooth recording and processing of customerrequests.

<b>1.3 Billing</b>

- Agribank's invoicing process involves creating invoices for products or services provided to customers. These invoices include information such as the amount due, the due date, payment options, or any other relevant information.

- Customers can pay their bills through a variety of channels, such as online banking, mobile banking, direct debit, and in-person at a branch.

- Agribank also offers an automatic payment option, where the payment is automatically deducted from the customer's account on the due date.

<b>1.4 Payment</b>

- To make a payment via Agribank's online banking service, customers need to log in totheir account on Agribank's website and select a payment method. The customer willneed to provide payment details, including the recipient's name, account number, andamount paid.

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- For online banking, you can download Agribank's mobile application and log in to youraccount. The customer can then choose a payment option.

- If you have an Agribank debit or credit card, you can use this card to make payments atcard-accepting points. Customers will need to provide card details and paymentauthorization to staff.

<b>2. Enhancing elements2.1 Consultation</b>

- Professionalism and solid knowledge: Agribank's advisors are extensively trained in thebank's products and services. They possess broad knowledge of banking, finance, andrelevant legal regulations.

- Diversity and flexibility in consultancy: Agribank offers a diverse range of advisoryservices, including guidance on products and services, personal finance, riskmanagement, and rights and benefits. This ensures that customers receive comprehensiveand customized advice according to their individual needs. Agribank also demonstratesflexibility by delivering advice through various channels, such as in-person at branches,via telephone, or through online services like email or live chat.

<b>2.2 Hospitality</b>

Create hospitality: Internal reform has become a regular and continuous work ofAgribank, from the organization of the apparatus to the correction of workingstyle, and thoroughness to all officers and employees to learn and practice.Agribank's culture transformed into daily communication behaviour withcustomers and partners to business requirements.

Training attitude: Agribank organizes annual training courses, specialized trainingfor staff in the whole system, updating the new document system, and improvingprofessional skills to meet the increasing needs of customers.

<b>2.3 Safekeeping</b>

- Personal Asset Protection: The safekeeping element provides customers with peace ofmind regarding the security of their assets. This may include cash, important documents,mobile phones, or any other assets that customers wish to keep safe during transactionsthrough the use of cameras or security personnel.

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- Safety and Privacy of Customer Information: Agribank ensures the safety and privacyof customer information through insurance. This includes implementing protectivemeasures to prevent bank fraud, card counterfeiting, identity theft, card/bank informationcloning, and theft of PINs and passwords.

- Safety at ATM locations: Agribank regularly monitor, inspect, and cross-checktransactions to promptly detect any abnormalities during customer transactions.Additionally, they provide public awareness and advise customers to be cautious ofcriminal methods and schemes. The bank also ensures that its machines are placed inwell-lit and visible locations.

<b>2.4 Exceptions</b>

Meeting special requests: Customers may have special requirements, such asopening separate accounts for organizations, individuals, or businesses, requestingloans with special conditions, or requesting services. In these cases, Agribank canrespond to customers' special requirements, provide flexible solutions and customizeservices to meet each customer's unique needs.

Policy adjustment: In some cases, customers can propose policy adjustments orask for flexibility in Agribank's regulations. This may include requesting a delay inrepayment, adjusting interest rates, or changing contract terms. Agribank can considerand respond to reasonable requests from customers, create flexibility, and showpositive feedback in changing policies when necessary.

<b>D. Identify problems in the flower of service and suggest solutions1. Order-taking</b>

<b>1.1 Problems </b>

- Customer Service Centers: Some Agribank branches lack strict regulations for customerqueuing and service management, leading to issues with maintaining order andaddressing objective and subjective factors.

- Mobile Agribank Banking: Service delivery experiences disruptions and maintenanceerrors, impacting its smoothness and causing inconvenience for users, particularly duringcritical transactions like fund transfers.

<b> Solutions</b>

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- Automated queue management systems, utilizing self-service ticket dispensers, offer aneffective solution for Agribank to address issues, providing customers with queuenumbers and transaction counters for convenient and efficient processing. Benefitsinclude time-saving, improved customer experience, and reduced confusion and errors.- Improvements in the App:

Upgrade system and infrastructure: Agribank should invest in upgrading itssystem and infrastructure, enhancing server processing capabilities, improvingnetwork bandwidth, and optimizing the mobile application.

Regular testing and bug fixing: Agribank should conduct regular testing and bugfixing to detect and resolve issues related to information delivery, smoothness, andmaintenance errors.

Maintenance and incident notifications: Agribank should proactively notify usersabout scheduled maintenance and potential incidents related to Mobile AgribankBanking, allowing users to choose suitable times for service usage.

<b>2. Billing2.1 Problems</b>

- Slow invoice processing time: Agribank's invoice processing time is quite slow, lastingup to 5-7 working days. Even if the customer already transfers the money and has alreadydeducted the money from the account, the beneficiary only receives it after a few days.- Difficulty in paying bills online: Although Agribank provides an online bill paymentservice, the interface and experience of this service are not good.

- Unclear in bill payment: Agribank's service fee is higher than other banks, butsometimes customers will be charged for unknown reasons.

<b>2.2 Solutions</b>

- Invoice processing time can be shortened by shortening the process.

- Upgrade and fix bugs in the app and make the interface more user-friendly so thatcustomers don't have difficulty viewing invoices.

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- When deducting the service fee, you can add a note line that is to deduct any servicefees, helping customers not to panic when they see money automatically deducted fromtheir account.

<b>3. Payment3.1 Problems</b>

- With online banking service, the app is regular maintenance and has errors leading tonot being able to transfer money even though there are invoices and money is deductedfrom the account.

<b>3.1 Solutions</b>

- Upgrade the app to reduce maintenance and bugs. At the same time, tracking customertransactions limits the error of not being able to transfer money and refund money if thebeneficiary bank does not receive the money.

<b>4. Consultation4.1 Problems</b>

- Waiting time: One negative aspect can be the waiting time to receive a consultation. Ifmany customers are waiting, the service time can be prolonged, leading to inconveniencefor customers. Additionally, there may be inconsistencies in the advisory operation,resulting in a time-consuming process that does not meet the customer's expectations.- Understanding customers: Some advisors may not fully understand or accuratelyaddress specific customer needs. This can lead to misunderstandings or the provision ofsolutions that are not suitable for the customer's situation.

- Difficulty in understanding products and services: Some customers may encounterdifficulties in understanding the products and services provided by Agribank due tounclear presentation or interpretation from the advisors.

<b>4.2 Solutions</b>

- Time management and staffing enhancement: Agribank can increase the number ofadvisory staff to reduce waiting time for customers. Additionally, an efficient timemanagement system can be established to ensure fair allocation and optimal utilization ofpersonnel.

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- Establishing clear processes and standards: Agribank should establish and adhere toclear processes and standards for advisory operations. This ensures consistency inoperations, avoids time wastage, and produces expected outcomes.

- Utilizing technology and automation: Agribank can leverage technology and automateadvisory processes to enhance efficiency and reduce service time. For example,deploying chatbots or automated systems to answer customer queries through the bank'swebsite or mobile application, or Live bank.

<b>5. Hospitality5.1 Problems</b>

Employee attitude: Although the bank organizes internal training courses and aregular working style, some employees still need to improve. The attitude of somestaff, when customers come to do the service, is a certain lack of respect forcustomers, the way of communication is also lack of professionalism.

Customer feelings: Most of the customers who come to experience are oftendissatisfied and feel uncomfortable because of the unprofessional service of thestaff at the bank.

<b>5.1 Solutions</b>

Professional training and periodic examination of bankers: Professional trainingfor bankers in necessary skills. In addition, there should be periodical inspectionmilestones for all employees.

Create a positive working environment: A positive working environment will helpbank employees feel more comfortable and confident in their work. This will helpthem serve customers in a better way.

Strengthen monitoring and evaluation of bank staff's work: Strengthening themonitoring and evaluation of bank staff's work will help them have moremotivation to serve customers better.

Create incentive policies: Create incentive policies to motivate bank staff to servecustomers better.

<b>E. Conclusion</b>

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