Service Marketing Management Term Paper Example | Topics and Well Written Essays - 3500 words

Service Marketing Management - Term Paper Example According to the Consumer Credit Act 1974, a lender is also held responsible along with the supplier of the goods for any type of breach of contract or the misrepresentation made. This also, therefore, means that the banks have probably failed to correctly anticipate the needs of their customers and then form strategic alliances with the firms offering the goods that consumers want to purchase through credit extended by the banks. According to the Consumer Credit Act 1974, a lender is also held responsible along with the supplier of the goods for any type of breach of contract or the misrepresentation made. This also, therefore, means that the banks have probably failed to correctly anticipate the needs of their customers and then form strategic alliances with the firms offering the goods that consumers want to purchase through credit extended by the banks. Most of the banks are willing to offer what they promise to their customers, however, due to other dimensions, they may not be a ctually delivering what they promise to do. Large Banks, however, seems to be too occupied with offering the services that are more profit-oriented and do not take into consideration what is actually required by the customers Smaller Banks and larger retailers fill that gap?   The above discussion indicates that there are two major gaps in the services offered by the large banks. These include reliability as well as the assurance and as such consumers seem to be most dissatisfied in these two areas. Reliability is often an issue in retail consumer credit wherein banks often tend to levy charges which are not either explicitly explained to the customers or presented in ambiguous and technical language. Since this is often done in order to make more out of unsecured relationships, many banks often engage themselves in such type of activities and result into the significant perceptions issues for the customers. Assurance is another critical gap because many consumers believe that the banks fail to deliver the required services with a given level of services. The issues related with the administration of the services clearly indicate towards the lack of required skills to basically administer the service and may indicate that the large banks are lacking behind in training and development of their employees.  

Read 2 Article and Anwser the Questions Essay Example | Topics and Well Written Essays - 750 words

Read 2 Article and Anwser the Questions - Essay Example hand, and to be totally transparent about the firm’s activities and efforts towards addressing identified problems In the article, Nike has been proactive in ferreting out related problems and taking it upon itself to make use of its huge leverage against its shoe suppliers, to essentially force suppliers and subcontractors to play nice with their workers in the factories, for instance. In the case of Gap, even as the garments industry operates on a different dynamic, adhering to the standards set by the SA 800, and working closely with the auditors and being in touch constantly with the general public ought to help make their products more acceptable to society in general (Smith, Ansett and Erez). 2. Working with the auditors and being transparent to the public about the problems and initiatives relating to the sweat shops and the general work conditions among the suppliers and subcontractors are steps in the right direction. As the case suggests, the negative coverage has adverse impacts on brands, and consequently on revenues. Further to this, global firms have to put more resources aimed at genuine reform, and towards engaging its customers and other major stakeholders earnestly. At present the companies can make use of social media to reach out in a personal way to consumers and the general public (Smith, Ansett and Erez). 3. Where companies totally avoid sweat shops, the impacts are tied to higher costs from giving workers higher pay and providing genuinely for their welfare. In industries where companies compete on cost, the impacts of shunning sweatshops and the attendant rise in costs due to that may be substantial, and may imperil the future prospects of many firms, but the alternatives are mainly in the areas of losing customers due to poor work conditions and the heightened scrutiny of media and other concerned parties about those, leading to probable loss of customers and dwindling revenues and profits in the long run (Smith, Ansett and