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

Agribank is regulated by the State Bank of Vietnam and specializes in banking and financial services related to agriculture and rural development.. Here are some outstanding services of

FPT UNIVERSITY DA NANG

COURSE: Service Marketing Management (MKT202)

GROUP PROJECT: An analysis report on the flower of

service of Agribank

Class: BA17B02 Members:

1 Lê Ngọc Duy - DS170333

2 Đoàn Thảo Anh Thư – DS170187

3 Phạm Tuyết Anh - DS170321

4 Đinh Ngọc Hà - DS170325

5 Nguyễn Thị Nguyên Trà - DS170365

6 Nguyễn Vũ Gia Hân – DS170437 Instructor: Ms Trang

TABLE OF CONTENT

Page

3

B Company’s introduction 1 Company’s overview

3 2 Agribank’s services

3 C Analyzing: the flower of service 1 Facilitating elements

3 1.1 Information

3 1.1.1 Intermediaries provide information to customers

4 1.1.2 Service information provided

4

4

5

5

5

5

5

6

6

D Identify problems in the flower of service and suggest solutions

7

1.Order-taking

7

7

3.Payment

8 4.Consultation

8

5.Hospitality

9

10

10

A Executive summary

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

B Introduction

1 Company’s overview: Agribank

- 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 and financial services related to agriculture and rural development (Aribank, n.d)

- Agribank has a nationwide network, with thousands of transaction points and branches

in cities, towns and rural areas This allows Agribank to reach out to and serve the community of farmers and agribusinesses across the country

2 Agribank’s services

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

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

C Analyzing: the flower of service

1 Facilitating elements

1.1 Information

1.1.1 Information Provision by Intermediaries

- Agribank utilizes various channels to provide information to customers:

Mobile Agribank Banking: Official website and mobile app for easy access to banking services and account details

Leaflets and brochures: Informative materials distributed at transaction locations

to highlight Agribank's services

Customer Service: Dedicated team is available through hotline and counters to provide personalized assistance and information

1.1.2 Service Information Provided

- Agribank ensures customers receive essential information and reminders about personal banking 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 of Agribank's data safeguards

1.2 Order-taking

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

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

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

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

1.3 Billing

- 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

1.4 Payment

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

- For online banking, you can download Agribank's mobile application and log in to your account 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 at card-accepting points Customers will need to provide card details and payment authorization to staff

2 Enhancing elements

2.1 Consultation

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

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

2.2 Hospitality

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

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

2.3 Safekeeping

- Personal Asset Protection: The safekeeping element provides customers with peace of mind 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 transactions through the use of cameras or security personnel

- Safety and Privacy of Customer Information: Agribank ensures the safety and privacy

of customer information through insurance This includes implementing protective measures to prevent bank fraud, card counterfeiting, identity theft, card/bank information cloning, and theft of PINs and passwords

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

2.4 Exceptions

Meeting special requests: Customers may have special requirements, such as opening separate accounts for organizations, individuals, or businesses, requesting loans with special conditions, or requesting services In these cases, Agribank can respond to customers' special requirements, provide flexible solutions and customize services to meet each customer's unique needs

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

D Identify problems in the flower of service and suggest solutions

1 Order-taking

1.1 Problems

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

- Mobile Agribank Banking: Service delivery experiences disruptions and maintenance errors, impacting its smoothness and causing inconvenience for users, particularly during critical transactions like fund transfers

1.2

Solutions

- Automated queue management systems, utilizing self-service ticket dispensers, offer an effective solution for Agribank to address issues, providing customers with queue numbers and transaction counters for convenient and efficient processing Benefits include time-saving, improved customer experience, and reduced confusion and errors

- Improvements in the App:

Upgrade system and infrastructure: Agribank should invest in upgrading its system and infrastructure, enhancing server processing capabilities, improving network bandwidth, and optimizing the mobile application

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

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

2 Billing

2.1 Problems

- Slow invoice processing time: Agribank's invoice processing time is quite slow, lasting

up to 5-7 working days Even if the customer already transfers the money and has already deducted 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 payment service, the interface and experience of this service are not good

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

2.2 Solutions

- 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 that customers don't have difficulty viewing invoices

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

3 Payment

3.1 Problems

- With online banking service, the app is regular maintenance and has errors leading to not being able to transfer money even though there are invoices and money is deducted from the account

3.1 Solutions

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

4 Consultation

4.1 Problems

- Waiting time: One negative aspect can be the waiting time to receive a consultation If many customers are waiting, the service time can be prolonged, leading to inconvenience for 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 accurately address specific customer needs This can lead to misunderstandings or the provision of solutions that are not suitable for the customer's situation

- Difficulty in understanding products and services: Some customers may encounter difficulties in understanding the products and services provided by Agribank due to unclear presentation or interpretation from the advisors

4.2 Solutions

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

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

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

5 Hospitality

5.1 Problems

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

Customer feelings: Most of the customers who come to experience are often dissatisfied and feel uncomfortable because of the unprofessional service of the staff at the bank

5.1 Solutions

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

Create a positive working environment: A positive working environment will help bank employees feel more comfortable and confident in their work This will help them serve customers in a better way

Strengthen monitoring and evaluation of bank staff's work: Strengthening the monitoring and evaluation of bank staff's work will help them have more motivation to serve customers better

Create incentive policies: Create incentive policies to motivate bank staff to serve customers better

E Conclusion