Service Marketing by Jyske Bank

1. Jyske Bank
BY :-
LOKESH CHANDRA (0131PG006)

2. HISTORY
Incorporated in 1967 through a merger of 4 Danish banks.
The mid-Jutland area : Silkeborg Bank, Kjellerup Bank, Kjellerup
Handels-og Landbobank and the Handels-og Landbobank in
Silkeborg.
Recognized at most differentiated and unremarkable bank.
But in mid 90’s, the change process lost its differentiating
characteristics.
Till 2003, Jyske bank has maintained the highest number of
satisfied customer.

3. Strategies (Tangibles)
Mid 1990’s 2003
One employee for a
group of customers.
Services cape
Physical evidence : dull
images for employees.
A customer allocated to a
group of bankers.
Round tables, computer
visible, play place, café
outlet, specially designed
meeting rooms, change
in interiors.
Friendly images of
employees.

4. Strategies (Intangibles)
Mid 1990’s 2003
Training provided to
employees.
A long procedure before
process could be
computer.
Training provided to
employees.
The procedure is highly
reduced for better
services.

6. JYSKE DIFFERENCES
Have common sense
Be open and honest
Be different and unpretentious
Have genuine interest and equal respect for people
Be efficient and persevering

7. Expanded marketing mix for services
People Physical
evidence
Process
Employee Facility design Flow of activities
Customer Equipment- it and
coffee machines
No of steps
Communicating
cultures and value
Business cards Level of customer
involvement
Employee training Other tangible Surprise audit and
checks

8. Jyske competitive positioning
Value
added
Service
culture that
differentiae
Out of box
service
Cutting
edges

9. Out of the Box Service
Physical Evidence :-
1. Developing a niche market and targeting the right set of
customers.
2. A customer assigned to a group of bankers.
3. Friendly picture of employees.

10. Cutting edge
Technology - Similar
Delivery – Significant Difference
1. Tools developed – Customer Needs Identify
2. Tools + People – Cutting Edge

11. Value added
People :
• Being nice to customers.
• Making time for customers.
• Caring about customers.
• Focused at niche market
• Training in team building
• Empowerment to employees.
• Incentives

12. Service Differentiates
Process : Traditional Product selling to customer solution approach
Delivery of financial products changed.
Employee Centric
Empowering employee for decision making
Training
Commitment
Incentives

13. Tangibles
Account Teams :-
1. Caring about customers as individuals.
Branch Design :-
1. Customer interaction with bankers.
2. Café :- Customer feels welcome.
3. Round Tables :- Equality.
4. Screen Visible :- Openness.
5. Home like meeting rooms.
6. Better Photographs :- Old family like.

14. Intangibles
Empowering the branches :-
1. Improved customer experience.
2. Quality of information and hence quality of loans
improved.
3. Acceptable to customers as well as bank.
4. Improved branch credit skills, no incentives to make poor
loans and robust internal auditing function.

15. Intangibles
Empowerment through out the bank :-
1. When in doubt, ask.
2. Working hours and Vacations.
3. Spend what you need to spend.
4. Telling what is expected and checking behavior.

16. S