Tag Archives: Quality of Products and Range of Products

Influence of Quality of Products and Services Offered By Banks on Growth: A Case of Selected Banks within Eldoret Town (Published)

Implementation of growth for every company is vital even after initial development of strategy. A bank’s growth strategy is so crucial in ensuring its survival, banks require implementing growth that enables them to increase their scales of quality service delivery in an effort to grow in the market. Consequently banks are expected to be on a steady growth path increasing their revenues and expanding their scales of quality service delivery. This however has not been the case for a majority of the banks in Kenya. The study was guided by the following research questions; what is the effect of customer relations management on growth of a bank? What is the effect of range of products on growth of a bank? And what are the challenges facing banking on provision of quality products and services?  The study employed descriptive survey to assist the researcher in identifying the marketing strategies employed by commercial banks in dealing with service breakdown in Kenya. The researcher targeted the management and employees of the banks. The researcher targeted a total of 130 respondents. A sample of 60 respondents was employed. The researcher employed purposive sampling where every individual acts as the target for the management, stratified sampling for the departmental management and employees. The study employed the use of the questionnaires and the interview schedules as the main data collection tools though the study also used document analysis to identify documents particularly on the impact of quality service offered by banks on growth strategy. Data was cleaned, validated, edited and coded then summarized using regression model, equations and descriptive statistics, percentages, and mean scores. The findings showed that high levels of quality are essential to achieve a bank’s objectives. The quality of products and services offered by banks can be a powerful tool for growth. Customer relations management is considered a cornerstone for growth. For customers to be satisfied, they are supposed to be treated in a good way, incase of any complaint, the management has to provide solution to them. Bank supervisors should also review the business and strategic plans of individual banks and assess the capabilities of management to fulfill objectives. They should check that management systems in place are sufficient to ensure compliance with policies and proper functioning. The study recommends that banks should come up with good customer relations management strategies, provide competitive products and services to its customers and ensure that management systems in place are sufficient to ensure compliance with policies and proper functioning hence increasing productivity.

Keywords: Customer Relations, Quality of Products and Range of Products