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Executive Summary
Introduction The banking sector of Bangladesh is in a progressive shape at present. As an obvious fact, international or foreign banks are sitting on a sophisticated place in the industry because of their extra polished look in case of service, technology, trustworthiness. Despite of this fact, the foreign banks are facing a fight back from the local banks in many locality aspects. Standard Chartered Bank is one of these kinds of banks in Bangladesh. Industry Background Bangladeshs financial architecture started developing within a public sector institution established at the time of Bangladeshs independence. Over the last thirty years several new generations of banks have entered and today make up about one half of banking assets. Bangladesh has been a global leader in financial inclusion, building some of the original and still largest microfinance institutions (MFIs). In addition to 4state owned commercial banks and 610 licensed Microfinance Institutions Bangladeshs financial sector consists of 30 domestic commercial banks, 9 foreign banks, 4government owned specialized (development) banks, and 22 non-bank financial institutions. In terms of total assets, the 47 scheduled commercial banks dominate Bangladeshs financial sector. Company Background Standard Chartered Bank started its business in Bangladesh in 1948, opening its first branch in the port city of Chittagong. The bank increasingly invested in people, technology and premises as its business grew in relation to the country's thriving economy. Today, Standard Chartered Bank is the largest international bank in Bangladesh with 26 Branches, 57 ATMs and 7 Financial Kiosks; employing over 1,300 people. SCB is the only foreign bank in the country with a presence in 6 cities Dhaka, Chittagong, Khulna, Sylhet, Bogra and Narayanganj; including the country's only offshore banking units in Dhaka Export Processing Zone (DEPZ) at Savar and Chittagong Export Processing Zone (CEPZ).

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Project Background It can easily be understood that, that an individual has several accounts in different banks aiming to get the benefit of the bank. Depending upon the comfort ability with the services, the clients change their transaction pattern with a particular bank. Customer satisfaction matters when customers intensely reduce the transactions and present him/her as dissatisfied. As a foreign bank, Standard Chartered Bank Has been performing very well for years. The local banks of Bangladesh frequently adopt the new technology, offering same diversified product category, and contributing to the economy in a meaningful manner. That is why, local banks are becoming the vital competitors of Standard Chartered Bank and they are also increasing the market share with customer satisfaction. So, Standard Chartered Bank Must ensure the quality of services to hold or maximize the level of customer satisfaction so that the firm hardly faces any difficulties in customer retention. Research Approach The research was aimed to find out the customer satisfaction level of Standard Chartered Bank and its effect on its brand performance. With this aim, the research conducted a survey on the customers of Standard Chartered Bank in Dhaka city. The survey was based on a questionnaire which had all close ended questions. This has helped the research to get a definite answer from the respondents. The survey had 100 respondents who were equally divided into male and female. The questionnaire was designed with 5 categorized questions which have helped to draw the interpretation according to the purpose of the research. The gathered data have been analyzed by the statistical tool SPSS. The research then incorporated all the interpretation into a summarized finding. The research has also tried to provide a guideline of the recommendation to improve the problem situation. The guideline of the recommendation was attached to the implementation planning. At the end, the research has tried to prove the benefits of the recommended solutions for Standard Chartered Bank. Findings The customers have expressed their both positive and negative reactions for Standard Chartered Bank. The customers have expressed their negativity in terms of the convenience and accessibility of the products and services of Standard Chartered Bank. They are also dissatisfied with the fewer amounts of visibility of the ATM booths and

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branch office of Standard Chartered Bank. Besides, customers expect a bit more involvement of Standard Chartered Bank in carrying out the corporate social responsibilities. Al together, the customers have declared an average result, where some people express their satisfaction with the bank, and other almost equal numbers of people have expressed their dissatisfaction to the bank. Standard Chartered Bank is in a kind of trade off situation; where their effort to keep the elegance of the brand is affecting the customer satisfaction, and on the other hand, ensuring customer satisfaction force them to come down to the local level. But of course the bank cannot come down alone; it will obviously bring the brand elements along with it. Recommendations The recommended portion of the research guided some effective solution to improve the situation. It is divided into two segment one is specific guideline which has the recommendation for identified problems in the finding, another is general guideline which has some general suggestion as preventive measurements. The specific recommendations suggested ensuring the convenience and accessibility of the products and services of Standard Chartered Bank. So that, general people will be able to get the products and services of Standard Chartered Bank without having a high standard of regulations, protocols and education. At second step the research suggested to increase the visibility of the bank in terms of Automated Teller Machine booths and branch office. Otherwise customers will switch to the competitors who will give them wide and easy access to the cash anywhere at any time. After this, the research suggested to provide enough flexibility in the banks policy to alter it for any emergency need of a customer. In the competitive market, Standard Chartered Bank needs to have the flexibility to modify their few policies in case of any emergency. The last recommendation for Standard Chartered Bank is to increase the involvement of their corporate social responsibility activities in a mass level. Instead of doing corporate social responsibility activities in one sudden big crisis, the bank should look for small but mass level corporate social responsibility activities to reach the grass root level. Implementations The implementation guideline is based on the specific recommendation of the research. It planned to redesign the market segmentation method of Standard Chartered Bank and adopt strategic segmentation. This will help them to target more than one target group

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and include low and middle class people. The research also planned to increase the number of Automated Teller Machine booths and deploy a customer service officer to each ATM booth in order to increase the visibility of the bank. Each customer service officer will have the intranet network to give the solution to the customers. As a result Standard Chartered Bank will be able to provide a wide network of Automated Teller Machine booths and also instant customer service. At the end the implementation method suggested to increase corporate social responsibility activities by initiating community development projects. For this, the bank can appoint project consultants and volunteer human resource. Besides, all these employees will get a chance to open a free account in the bank. Anticipated Benefits of the Recommended Solutions The entire guideline of the recommendation and its implementation strategy has been outlined with the aim of increasing the customer satisfaction level keeping the brand value intact. In the first recommendation, Standard Chartered Bank will be able to increase the number of their customers. When the customers will see that their bank is interested to deal with general people as well, they will feel more loyal towards the bank. This attempt will help Standard Chartered Bank to create another dimension of their brand image among the general customers world. By increasing the number ATM booths Standard Chartered Bank will be able to resist their customer from switching to someone else. Moreover, the unique idea of deploying a customer service officer will oblige the customer to dedicate their satisfaction to the bank. This process will help the bank to solve the problems of the customers instantly. Besides, this will help to reduce the long queue of the branch office as the customers will get as much customer service officer as the Automated Teller Machine booths will be. This process will also help the bank to save money by establishing a complete branch office but they will be able to provide customer service. The final recommendation of increasing the involvement of CSR activities will help the bank to build up a positive brand image among the customers. As the bank will give a free account to the project employees so, it will increase the number of customers with a high satisfaction level. This attempt will help the bank to be known by the people of community level who will then spread the positivity of the bank by their word of mouth. By this way Standard Chartered Bank will be able to enhance their brand value with the enhanced customer satisfaction.

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1.0 Introduction
People earn money to live the life and people save their money to sustain their livelihood. Since the money considered to be the base of sell and buy, people started saving at least a penny from their total earning to back up their sudden need. As this saving is made from their hard work earning, so people want to ensure the highest level of security for it. There was a time, when people used to save money into a pot and keep the pot under the floor of the house. Saving process was partially attached to the lending process to help the dearest one and also to save the money to someone else. As the time passed, both saving and lending process has adopted an institutional and professional approach in the form of banks. In todays time, bank account is considered as a significant identity of a person that ensures the authenticity of that person. Along with judging customers identity, every bank provides its own identity to the customer to achieve their trust. Besides, a bank offers many different profitable ways to save money and also to lend money. This is why people started doing their monetary transaction through banks. In fact, today people have kinds of banks some of which provides some specialized service. Above all, every bank wants to satisfy their customer with a high level of service. As the customer has a tendency to switch to somewhere else, every bank has to be in a continuous process of customer satisfaction. The banking sector of Bangladesh is in a progressive shape at present. It contains national and international, public and private banks to serve the customer. All these banks are working with a modernized look and customer oriented approach. As an obvious fact, international or foreign banks are sitting on a sophisticated place in the industry because of their extra polished look in case of service, technology, trustworthiness. Despite of this fact, the foreign banks are facing a fight back from the local banks in many locality aspects. Standard Chartered Bank is one of this kind of banks in Bangladesh. SCB runs its operation in Bangladesh for last 20 years with a positive impression. However a specific and focused look on the banks customer satisfaction level can disclose some problem factor that is hampering SCBs performance in the competition.

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This is because, the bank is ultimately working for the customer, and if customers are not satisfied enough then their dissatisfaction will definitely pull down the banks performance. Although Standard Chartered bank has given its customer a trustworthy brand identity, but still other banks, especially local banks are successfully creating their brand identity with more satisfied customers. This is an alarming situation for SCB at a foreign bank and that is why it is very important for them to analyze the satisfaction level of their customer and its effect on their brand performance. Thus the bank will be able to rectify their lacking, and will also be able to beat the competition more strongly.

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2.0 Industry Background

There is no denying the fact that the financial system plays a significant role in the economic development of a country. The importance of an efficient financial sector lies in the fact that, it ensures domestic resource mobilization, generation of savings, and investments in productive sectors. In fact, it is the system by which a countrys most profitable and efficient projects are systematically and continuously directed to the most productive sources of future growth. A financial sector in Bangladesh, like most in developing countries, is dominated by banking institutions. With recent gains in financial fronts Bangladesh's financial sector is now comparable with most of the countries in South and East Asia in terms of financial deepening. Bangladesh, like other developing countries, still has an underdeveloped financial system and is facing serious problems with the operation of its financial system and poor financial intermediary presents significant disincentives to foster economic growth. Nevertheless, the banking sector occupies an important place in Bangladesh because of its intermediary role; it ensures allocation and relocation of resources and keeps up the momentum of economic activities. It plays a pivotal role in the economic development of the country and forms the core at the money market. Banks can be defined in various ways. In Bangladesh, any institution which accepts for the purpose of lending or investment, deposits of money from the public, repayable on demand or otherwise, and is transferable by checks, draft order or otherwise, can be termed as a bank. The purpose of banking is thus to ensure transfer of money from surplus unit to deficit units or in other words, to work as the repository for money. Bangladeshs financial architecture started developing within a public sector institution established at the time of Bangladeshs independence. Over the last thirty years several new generations of banks have entered and today make up about one half of banking assets. Bangladesh has been a global leader in financial inclusion, building some of the original and still largest microfinance institutions (MFIs). In addition to 4state owned

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commercial banks and 610 licensed MFIs, Bangladeshs financial sector consists of 30 domestic commercial banks, 9 foreign banks, 4government owned specialized (development) banks, and 22 non-bank financial institutions. In terms of total assets, the 47 scheduled commercial banks dominate Bangladeshs financial sector1. On April 4, 2012, the Bangladesh Bank (BB) approved three new banks, the sponsors of all of which are Non-resident Bangladeshis. Following this six more banks were approved on April 8, 2012. The six most recently approved were drawn from a shortlist of 16, of a total of 37 applications. Meanwhile, the three approved Non-resident Bangladeshis bank applications were drawn from a pool of five Non-resident Bangladeshis bank applicants2.

Figure 01: Country-wise banking sector penetration

Source: Global Insight, Fitch and IFC discussed in Brac EPL Research 3

The Bank sector penetration in Bangladesh is a meager 15% compared to 32% in India, and 22% in Pakistan). The Bank sector has had an average annual deposit growth rate of 19.31% in 2007-2011. This is high by any standard, considering in Pakistan bank sector witnessed an average deposit growth rate of 13.60% in 2007-2011 and Nigeria 15%, over
1

Nabi, Md. Golzare , Md. Sanaullah Talukder, and Gregory Chen. Mobile Financial Services in Bangladesh: An Overview of Market Development. Dhaka: Bangladesh Bank, Pg 55. 2 Amit ,SajidHuq, and FarjadSiddiqui . Bank Sector Update: Nine New Banks for Bangladesh . Dhaka: Brac EPL Research, Pg-12. 3 Amit ,SajidHuq, and FarjadSiddiqui . Bank Sector Update: Nine New Banks for Bangladesh . Dhaka: Brac EPL Research, Pg-15.

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2009-2011. In frontier economies, this is partly an outcome of social mobility manifested by an increasing awareness of bank products. Secondly, it is also a result of sales drives by banks and their increasing numbers of branches. In Bangladesh, the figures for interest rate spread (IRS) and net interest margin (NIM) are quite high by global or regional standards. As of FY11, the average IRS and NIM for the Bank sector was 4.95% and 4.10%, respectively4. Three new NRB commercial banks, sponsored by non-resident Bangladeshis (NRBs), and six private commercial banks (PCBs), have been approved aiming to help boost the inflow of foreign exchange and strengthen the ongoing financial inclusion programs through bringing non-banking people under the banking network, respectively. The economy has grown and the banking system has become more competitive but there are still a large number of under-banked people in Bangladesh. Recent estimates from a survey conducted by the Institute of Microfinance (IoF) found that only 45 per cent of the nearly 9000 households surveyed do have access to banks and micro-finance institutions (MFIs) for loans. The population per branch (21065) and the ratio of loan accounts per 1000 adults (42yrs) suggest that the outreach of the formal financial sector in Bangladesh is lower than that in India (14485 and 124 respectively) and Pakistan (20340 population per branch and 47 loan accounts per 1000) 5. Bangladesh Bank assumes that the new banks will help increase the quality of banking services by increasing competition in the banking sector. They will also be able to meet the unfulfilled demand for credit by the private sector whose needs have grown in line with a fast expanding economy. Leading Bangladesh banks run a very profitable business unrelated to their spread income operations and the outlook for most of these are bright. These non-core operations include banking for the middle-market/SME; fee-based businesses such as remittance operations; and mobile banking businesses that are at an early stage and
4

Amit ,SajidHuq, and FarjadSiddiqui . Bank Sector Update: Nine New Banks for Bangladesh . Dhaka: Brac EPL Research, Pg-15. 5 "Problems and prospects of banking industry in Bangladesh." Financial Express :: Financial Newspaper of Bangladesh. http://www.thefinancialexpress-bd.com/more.php?news_id=127068&date=2012-04-19 (accessed January 7, 2013).

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forecasted to drive growth long-term. A more conventional non-core bank business in the form of commissions-based trade financing is also expected to see better days once electricity and infrastructure bottlenecks are addressed. It would be difficult to set a timeline to when trade financing will pick up as all the external conditions are favorable: high manufacturing costs in China, slowdown in Europe and increasing demand for lower-end and middle-end RMG, low labor costs in Bangladesh, and considerably deep sector and product experience of Bangladeshi RMG manufacturers. The variable in the form of infrastructure bottlenecks will have to be addressed. Going by McKinseys forecast of Bangladesh RMG manufacturers doubling output from 2015, at least by 2014, even trade financing would pick up for the bank sector. However, 47 banks is a high count and the new banks will certainly create competition at a time when asset and deposit bases are concentrated and liquidity outlook is a concern.

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3.0 Organization Background

3.1 Historical Background of Standard Chartered Bank
Standard Chartered Bank has a history of more than 150 years. The name of the bank came from the two original banks - the Standard Bank of British South Africa and the -Chartered Bank of India, Australia and China. Among the two banks, Chartered Bank established in 1853 by a Royal Charter granted by Queen Victoria of England. The key person behind the Chartered Bank was a Scot, James Wilson who has started The Economist, which is still one of the world's preeminent publications. He visualized the advantages of financing the growing trade links with the areas in the East, where none of the other financial institutions were present at that time and therefore the Chartered Bank opened two branches in 1858 in Chennai and Mumbai. On the other hand, the Standard Bank was founded by another Scot, John Paterson in 1862. He emigrated to the Cape Province in South Africa and became a successful merchant there. Coming from the similar background, he also visualized the great opportunities through linking between Europe and South Africa. SCBis the worlds leading emerging bank, headquartered in London. Its business however has always been overwhelmingly international. The bank is currently operating in Africa, Asia Pacific, America, Middle East, South Asia, and Europe. Standard chartered expanded its network, and has an office in every country in the Asia pacific region. Standard chartered is now focused on providing cross border services to its Latin American core customer base, composed of multinational corporations, international financial institutions and large local corporations. In 1999, standard chartered acquired the global trade finance business of union bank of Switzerland. This acquisition makes standard chartered one of the leading carriers of dollar payments in the USA. Standard Chartered serves both consumer and wholesale banking customers, is well established in growth markets and aims to be The Right Partner for its customers. The Bank is trusted across its network for its Standards of governance and its commitment to making a difference in the communities in which it operates.

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Though the reflection of long business experience, Standard Chartered recognizes its responsibilities to its staff, markets, customers and to the communities in which it operates. It is a strong platform for future growth. Standard Chartered is holding the leading positions in dynamic markets. They are in some of the worlds fastest growing markets including the United Arab Emirates, India, China, and the markets of South Asia. They are present in many of their markets for several generations and have become a trusted partner to businesses and individuals. In other words, they are trusted and well respected provider of financial products and services. They have built up an enviable knowledge of local markets in Asia, Africa, the Americans and the Middle East.

3.2 Worldwide Operational Activities of SCB

Standard Chartered Bank has its wide range of network all over the world.

Table 01: Worldwide Operational Activities of SCB

Source: Human Resource Department of Standard Chartered Bank

Standard Chartered Bank operates in every Asia Pacific market with the exception of North Korea and some 60 percent of the Groups profits come from the Asia Pacific region. Standard Chartered Bank provides a full range of products and services to its customers all around the world, some of which are named as Consumer Banking, Personal Banking, Global Corporate Banking and Institutional Banking, Global Custodial Service, International Trade Management, Global Cash Management, Global Institutional Banking, Global Treasury, Global Electronic Banking etc.

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3.3 Global Strategy of Standard Chartered Bank

At the global level, SCB operates with some key strategies that are quite unique to other banks such as to build and grow strong businesses in the Middle East, South Asia and Far East Asia. Capitalization on the good track record has been created in these regions by building unique position and image among the target customer segment and being responsive to the needs and serve the needs better than the competitors, to concentrate on the operations in those activities that support Standard Chartered Bank'sremarkable franchise in newly industrialized and emerging markets.

3.4 Standard Chartered Bank in Bangladesh

SCB is a leading foreign bank in Bangladesh, which brings the revolution in the banking service industry through adaptation of modern technology and process with a view to enhancing customer satisfaction. Having been established in the British colonial period, the bank has positioned itself as a unique business serving the local community with due professional and ethical fervor. It has been operating in Bangladesh for more than 100 years. Now it has 25 branches in different significant places of the country and intends to expand its presence all over the country. The bank excels in providing the most efficient, consistent and timely services through 600 offices in more than 51 countries of Asia, Africa, Middle East and European region incorporated in the UK with its Headquarter as 1 Aldermanbury Square, London. At present, it is managing assets worth of 49 billion and maintaining corresponding relationship with over 600 banks in 157 countries. SCB specializes in personal, corporate, institutional and personal finance and custodial service with having a staff of about 33,000 people. SCB started its business in Bangladesh in 1948, opening its first branch in the port city of Chittagong. The bank increasingly invested in people, technology and premises as its business grew in relation to the country's thriving economy. Today, Standard Chartered Bank is the largest international bank in Bangladesh with 26 Branches, 57 ATMs and 7 Financial Kiosks; employing over 1,300 people. SCB is the only foreign bank in the country with a presence in 6 cities Dhaka, Chittagong, Khulna, Sylhet, Bogra and

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Narayanganj; including the country's only offshore banking units in Dhaka Export Processing Zone (DEPZ) at Savar and Chittagong Export Processing Zone (CEPZ).6 Extensive knowledge of the market and essential expertise in a wide range of financial services underline the companys strength to build business opportunities for corporate and institutional clients at home and abroad. Continuous upgrading of technology and control systems has enabled the bank of offer new services, which include unique ATMs, Phone Banking, and internet banking. SCB's services in Bangladesh, ranges from Personal & Corporate Banking to Institutional Banking including Treasury, SME banking, Islamic banking and Custodial services. The Wholesale Banking team of SCB is noted in the industry for its unmatched on-theground expertise, its relationship-focused approach to business and a solid track record of innovative, award winning and client centric solutions. The bank wants to deliver truly superior service everywhere and all the time - making them proud to have the bank as their banking partner. It has a dedicated attitude towards the community in which it operates and it wants to grow and flourish along with its customers and community.

Mission of SCB in Bangladesh

SCB in Bangladesh operates with the same mission as the Group SCB subscribes to worldwide. With the remarkable efficiency, skill and overall goodwill in all the operational areas, SCB in Bangladesh has made up the best and dedicated human resources of the private sector banking. The bank has a mission to build and grow on its enriched experience and the positive image that it has earned over the years. The underlying factor of its business mission is manifested by its five values: Responsive, international, trustworthy, creative and courageous. Since SCB as a bank caters to the higher level of the society, its operational strategies relies on trust and confidence building with the customers and offer them the highest sense of security and

"About us Standard Chartered Bank Bangladesh."Standard Bank.http://www.Standardchartered.com/bd/about-us/en/ (accessed October 23, 2012).

Chartered

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confidentiality. It has a dedicated attitude towards the community in which it operates and it wants to grow and flourish along with its customers and community.

Operational Areas
SCBs operational area includes 15 Branches in Dhaka, 1 offshore banking unit at EPZ in Saver, 5 branches in Chittagong, 1 branch in Sylhet, 1 branch in Bogra, 1 branch in Khulna, 1 branch in Narayangonj, Non-Branch ATMs in Dhaka, 3 Phone link Phone banking Centers.

Other Involvement of SCB Bangladesh

Other involvement of SCB in Bangladesh includes innovative technology, people training & development, community investment, compliance, corporate banking offers a wide range of trade related services and lending to local and foreign corporate entities, comprehensive consumer banking service offer through five branches in Dhaka, Chittagong and Sylhet, the three largest urban centers. ATM networks and Phone Banking Services are also available. The treasury operation in Bangladesh participates in foreign currency dealing and money market operations, institutional banking offers correspondent banking services to a large number of local public and private sector banks in Bangladesh, and custodial services render comprehensive services to overseas institutional clients.

Product Portfolio
Standard Chartered Bank combines global capabilities with deep local knowledge to provide innovative products and services to meet the needs of their customers and clients. A strong and innovative product and service portfolio strengthens the companys service line and contributes towards strong brand positioning. Table 02: Banking product and services of Standard Chartered Bank Personal Preferred Islamic Wholesale SME Priority Banking Banking Banking banking Banking Banking

Strategic Approaches towards the Future

The companys business model is focused on creating sustainable value, something reflected in their consistent performance. There are five basic building blocks of strategy.

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a. Aims to lead the way Quite simply, SCB wants to be the worlds best international bank, leading the way in Asia, Africa and the Middle East markets that offer great prospects for growth, that the management knows intimately and where they have deep roots. b. Believe in organic growth The company believes that investing in organic growth is the key to driving sustained value creation in both Wholesale Banking and Consumer Banking businesses. c. Stand by the customers and clients SCB generates its profits from meeting the needs of customers and clients and promoting real economic activity, not by trading on their own account. Standing by their customers and clients, using their balance sheet strength to support them through good times and bad, is part of its commitment, as demonstrated during the Asian financial crisis, the SARS outbreak in Asia and currently in todays challenging climate. d. Encourage a strong sense of shared values A strong culture and well-defined values help the firm to work together across 70 markets. SCB encourages openness and collaboration, and reward its employees not just for what they do, but how they do it. e. Focus relentlessly on the basics of banking SCB holds more customer deposits than loans in all their key markets, maintaining a high degree of liquidity. It is strongly capitalized and keeps costs under tight control. It has a proactive approach to risk management, including a rigorous framework for managing environmental, social and governance risk. SCB operates across multiple countries, offering multiple products to multiple customer segments. Credit Rating Report7 Table 03: Credit Rating Report Standard and Poors Moodys Outlook Stable Stable Long Term Issuer AAA1 Credit Rating
7

Fitch Negative AA-

"Standard Chartered Bank - Investor Relations - Ratings & debt." Standard Chartered Bank - Investor Relations . http://investors.standardchartered.com/en/debtratings.cfm (accessed November 15, 2012).

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Short Term Issuer A-1+ Credit Rating

P-1

F1+

Financial Comparison In Terms of Operating Revenue Table 04: Financial Comparison in terms of Operating Revenue Name of the Bank 2007 Brac Bank Asia EBL AB Bank Exim DBBL The City Dhaka Bank HSBC NBL Uttara Pubali Prime Bank South East SCB Islami Bank Mercantile Sonali Janata 1179 1165 1591 1576 0 1571 0 1487 2632 0 0 0 2406 2046 6478 4702 0 0 0 2008 2077 1587 2111 2649 2014 2069 2650 2072 3669 0 2678 0 3232 2721 8398 6019 1969 0 0 Operating Revenue 2009 3546 2253 2821 4655 2820 2678 2572 3169 4770 4358 3144 5177 4816 3819 9612 8289 2401 0 4656 2010 6036 2893 3702 6152 3549 3640 3379 3886 5859 5323 4133 6190 5779 4038 11053 11594 2833 12655 11616 2011 7265 4129 4618 8268 4441 4818 4368 4235 6119 6549 4605 6898 8240 5859 11890 12327 3491 16766 13696

Source: Bangladesh Bank Yearly Report 20118

Service Excellence:
From Customer Satisfaction to Customer Delight SCB maintains any unique mechanism in customer service excellence. These include making the customer feel important, working fast & efficiently, service with smile, having adequate product knowledge, handling objections efficiently and courteously, to conduct customer surveys to gather Voice of the customer and unable to gauge the current level of satisfaction with the service, to assess present process capability and to measure key processes end to-end from a customer viewpoint, to set up Quality Council in each country where service and quality initiatives will be discussed and key measures monitored, establishing service quality training.
8

"Publications of Bangladesh Bank." .::Bangladesh Bank::. www.bangladesh-bank.org/pub/index.php (accessed November 12, 2012).

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End Result: Creating Loyal Customers. Figure 02: Service Excellence of SCB Sales Service Excellence
Source: Newsletter of SCB

Retention

SCB in Bangladesh can be broadly divided into two functional areas, one is Business

Division, and second is Support Division. SCB is primarily corporate driven. More than
the corporate banking generates 40% of its revenue group while treasury contributes more than 20% to the overall revenue. The rest is generated from Personal Banking, Custodial Services and Institutional Banking.

Figure 03: Business Banking of SCB BusinessBanking of SCB

Corporate

Institutional

Consumer

Custodial

Treasury

Source: Corporate Banking, SCB

Figure 04: Support Division of SCB Support Division Finance, Administration and Risk Management Human Resource

Operations Information Technology Legal and Treasury

External Affairs

Credit and Collections

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Source: Corporate Banking, SCB

3.5 SWOT Analysis

STRENGTH Strong Corporate Identity: SCB is the leading provider of financial services worldwide and it is one of the top ten multinationals currently operating in the world. With its strong corporate image and identity, it can make better position in the mind of customers. This image has helped SCB to grab the personal banking sector of Bangladesh very rapidly. Distinct Schedule: Everyone in SCB from the appraiser to the top management has to work for the same schedule from a different aspect of the same goal, interfacing simultaneously at all levels. This allowed the efficient transfer of knowledge among the employees from top management. Efficient Performance: SCB provides hassle free customer service to its client base compared to the other financial institutions of Bangladesh. Personalizes approach to the needs of customers is its motto. Empowered Work Force : The human resource of SCB is extremely well thought and perfectly managed. The top management believed in empowering, which makes SCB a better place for the employees. The employees are not overpowered by authority, rather are able to grow as the organization matures.

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Equalization: At SCB, workshops are conducted periodically. In the workshops, all people participate as equals, with new members free to openly challenge top managers. This allows for stronger idea generation and employee empowerment. Management by Objective (MBO): SCB also has Management by Objectives (MBO) everywhere. Each person has multiple objectives. All the employees must have to get the approval of their bosses on what they are going to do. Later they review as to how well they have performed their job with their management as well as in the peer group. Modern Equipment and Technology: SCB owns the best banking and information technology equipment in Bangladesh. Its ultra-modern systems starting from terminal PCs to HUBs are based on the international SCB group standards and are the latest. The Hexagon product is one of the best examples in this context. More experienced and managerial know-how: The top management team of SCB is an expert in banking activities. The operating policies established by them are unique and unified. All the members of the team carry out their management roles exhaustively. They equally contributed to SCBs superior leadership, by carrying out their unique roles. They worked well together, respecting each others abilities and arguing openly and without any rancor when they disagree. Acquisitions: SCB is one of the experts in acquiring various firms and organizations. In Bangladesh it can also diversify quickly by acquiring various local banks and increase its total operation in Bangladesh rapidly. WEAKNESS Narrow Operating Span: SCB has a very narrow operation span in Bangladesh. It has only a few branches in Bangladesh. Various geographic segments are currently not availing the services of SCB due to inconvenient branch location or absence of the neighborhood branches. The bank does not plan on expanding in upcoming months. Absence of Strong Marketing Activities : SCB currently do not have any strong marketing activities through mass media e.g. Television, radio or internet. The only

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medium of transmission is through daily newspapers and billboards. SCB currently does not have any plans to expand their marketing activities except some consumer campaign they hold. In a vast competitive market where every competitor is aiming to expand, SCB lack of market interest might prove losing costly market share. Conservative Product Offering: Another major weakness of SCB Bangladesh is the small range of products that are offered by the bank. Even today, the bank does not have products such as a debit card and international credit card. In todays market, this can prove costly to the bank as competition is becoming intense and other banks are aggressively introducing new products to capture a larger chunk of the market. Lack of Client Confidence: It is a widespread belief among Bangladeshi local consumers that if they deposit their savings or borrow from a foreign bank such as SCB, there will be more hidden charges imposed by the bank relative to a local bank, and thus the customer will end up losing money. As long as this wrong belief persists, it will act as a hindrance to the prospects of SCB Bangladesh. Lack of human resource: One of the main weaknesses of SCB Bangladesh is its lack of number of employees, particularly in the branches. In terms of the number of customers served per customer service manager, the situation is much worse for a foreign bank such as SCB Bangladesh rather than a local bank. The reason as to why this problem persists is not the banks inability to hire more employees, but in reality it is the fact that SCB does not have too many branches/offices and thus not much space to accommodate the required number of employees. Default Culture: This is a major problem for SCB that it is very new organization in Bangladesh, the problem of non-performing loans or default loans is very minimum or insignificant. However, as the bank becomes older this problem will arise enormously and the bank may find itself in a more threatening environment. SCB has to remain vigilant about this problem so that proactive strategies are taken to minimize this problem. Although the percentage came down to 13.23% in 2007 from over 41% in 1999, still it is much higher than the internationally accepted tolerable range and, thus, is a threat to our banking sector.

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OPPORTUNITY Growing customer-base: Bangladesh has a very rapidly increasing upper-middle class and upper-class section of the community. SCB can take advantage of the increasing consumer-spending in Bangladesh, thereby earning more profits in the countrys operations. Besides growing consumer-spending, Bangladesh also maintains a very good investment climate which is resulting in new businesses setting up and expansion of existing businesses. SCB Bangladesh also can target these organizations to grow their client-base. Prospects of e-banking: With Bangladesh Bank recently relaxing regulations on online banking transactions and allowing banks to provide enhanced e-banking services; this is a big opportunity for banks all over the country to rapidly capture a good chunk of this market. With perhaps its strong internet backbone, SCB is in a better position than most rivals to avail this opportunity. More scope of outsourcing functions: Nowadays, several firms are opening up in Bangladesh and banks can outsource some of their tasks to these firms. For example, banks can now outsource tasks of their marketing functions to other firms that provide part-time contractual employees for the banks, thereby contributing to lower operational costs of the banks. Call center of banks is another common activity of banks which are now outsourced in Bangladesh. THREATS Strengthening competition: The upcoming private local and multinational bank poses a serious threat to the existing banking networks of SCB. It is expected that in the next few years more commercial banks will emerge. If that happens the intensity of competition will rise further and banks will have to develop strategies to compete against and win the battle of the banks. Pricing and charges: Although it is a policy of SCB Bangladesh to impose higher charges and pricing in order to maintain an image of prestige and brand, this policy might have to halt here as the Bangladesh Bank tries to promote lower costs for the banking customers. Moreover, in an environment of intense competition, other

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multinational banks might also lower their charges and then SCB will be in deeper pressure to start charging less to their customers. Changing the preference of individuals: Due to Bangladesh Bank regulations capping the interest rate on bank loans, banks such as SCB has also reduced the interest they pay for different types of deposits to maintain a profitable spread. This has, in turn, induced many individuals to invest their savings elsewhere rather than keep it in banks, which might enable them to earn higher returns. The stock exchange is one very good example where people nowadays prefer to invest their savings instead of depositing in banks.

4.0 Problem Study

This is very exciting to observe that how organizations are involved to shape themselves up for a new arena. We have entered into a new dynamic millennium of the 21st century. Especially financial institutions serve a wide variety of customers individually and conduct business with a variety of financial needs. It takes special skills and knowledge to handle customers successfully. As a banks boom and bust largely depend on customer satisfaction, a unique understanding of customers needs must be developed. Customer satisfaction represents a modern approach for quality in enterprises and organizations and serves the development of a truly customer-focused management and culture. Measuring customer satisfaction is an effective way to get the feedback about clients' preferences and expectations. In this way, companys performance may be evaluated in relation to a set of satisfaction dimensions that indicate the strong and the weak points of a business organization. Measuring customer satisfaction is relatively a new concept to many companies that have been focused exclusively on income statements and balance sheets. Companies now recognize that the global economy has changed things forever. Increased competition, crowded markets with little product differentiation and years of continual sales growth followed by two decades of flattened sales curves have indicated to today's sharp competitors that their focus should be changed. Competitors that are prospering in the new global economy recognize that measuring customer satisfaction is the key to open the gate of successive world. Only by doing so they can hold on to the customers they have and understand how to grab new customers. The competitors who will successfully

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recognize that customer satisfaction is a critical strategic weapon can bring an upward lift in their market share and profits. All kinds of service provided by a Bank are closely related to the customer/client. It is impossible to establish and specially to run a bank without a strong marketing strategy. A bank is called the businessman of others money. That is why satisfaction of these money lenders is imperative for a bank to run its own business. Based on this fact, every bank should try to satisfy its customers by providing them various types of service. Only a customer can ensure the sustainability of a bank with his or her own trusts. On behalf of any bank, every personnel of the bank should try to capture the faith and trust of his/her customer. The term customer satisfaction comprises several issues which are significantly attached with the banking functions. Table 05: Factors Affecting the Customer Satisfaction Service Portfolio Service Easiness Service Delivery Behavioral Approach Reliability/ Promptness Financial Performance & Security CSR Activity

As a foreign bank, SCB has already achieved the name and fame in our country. The company achieved the recognition of the first category of banking for several times because of its diversified service portfolio, promptness of service delivery and consistent upbeat financial performances. SCB critically analyzes the market position in terms of customers expectations and brand preference. To ensure the sustainability of the firm works with community investment, protecting the environment, leading way of communication, tackling financial crime, and contributing to the real economy. The evidence showed that the overall customer satisfaction of SCB as a whole decreased by 1%throughout the world9. Though it is just one percent but it matters as its impact varies from country to country. Table 06 : Consumer Banking: Complaint metrics10 FY 2010 FY 2011 2010 VS 2011
9

"Standard Chartered Bank."Standard Chartered Bank. http://standardchartered.com/sr2011/Supporting information/downloadcentre.htmll (accessed October 24, 2012). 10 "Standard Chartered Bank."Standard Chartered Bank. http://standardchartered.com/sr2011/Supporting information/downloadcentre.htmll (accessed October 24, 2012).

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Complaints per 1000 First Time Resolution Overall Satisfaction Complaint resolution turnaround time

.53 51% 67% 68%

.45 63% 66% 76%

Improved 15% Improved 24% Reduced 1% Improved 12%

Source: Standard Chartered Bank Web Site

CAMELS rating is an international bank-rating system where bank supervisory authorities rate institutions according to six factors. Four banks, including multinational Standard Chartered and Citibank NA, slipped from the top position in the latest CAMELS rating of the Bangladesh Bank. Rating showed that SCB, Citibank, State Bank of India and the local Prime Bank had slipped down from the strong category to the satisfactory category, or the second place.11- This report brings out the information that SCB faces some difficulties and also places a question to us that why this is happening. The report will strive for finding the current customer satisfaction level of Standard Chartered Bank in Bangladeshs market perspective and how it affects the brand position of the concern bank. Factually, banks clients have shown slight switching behavior. This behavior is not related to positive feelings regarding their banks, rather in the belief that there is not much difference among the banking products offered by diverse institutions. Moreover, these clients can perceive switching as costs for several factors; the need to change the account number to receive payment; the need to learn about products and services of the new bank; the loss of the rapport established with the former account manager and the loss of possible financial benefits resulting from the long term relationship with the institution. It can easily be understood that, that an individual has several accounts in different banks aiming to get the benefit of the bank. Depending upon the comfort ability with the services, the clients change their transaction pattern with a particular bank. Customer satisfaction matters when customers intensely reduce the transactions and present him/her as dissatisfied. As a foreign bank, SCB has been performing very well for years and sometimes the bank competing itself to form a new standard. The market situation changes radically because of globalization and global market competition. The local banks of Bangladesh frequently adopt the new technology, offering same diversified product category, and
11

"New Age | Newspaper."New Age | Newspaper. http://www.newagebd.com/detail.php?date=2012-0520&nid=10830#.UIeOebVDswE (accessed October 24, 2012)

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contributing to the economy in a meaningful manner. That is why, local banks are becoming the vital competitors of the SCB and they are also increasing the market share with customer satisfaction. So, SCB must ensure the quality of services to hold or maximize the level of customer satisfaction so that the firm hardly faces any difficulties in customer retention. Bank ranking is pretty different than other marketing firms but it is considerably important. Bank ranking can be performed on the basis of service performance, financial performance, asset quality, CSR and so on. All this directly and indirectly related to customer satisfaction. Branding is something which takes place in the mind of the customer with a positioning concept. So, performance and satisfaction of the customer can be the critical factors to determine the branding position in the competitive industry. That is why, measuring the customer satisfaction is very imperative in current market situation.

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5.0 Literature Review

Satisfaction has been defined and measured in different ways over the years12. Johnson etal.describe two basic conceptualizations of satisfaction: transaction-specific and cumulative13. Transaction-specific satisfaction is a customer's transient evaluation of a particular product or service experience, while cumulative satisfaction describes the total consumption experience of a product to date14. An important advantage of the cumulative satisfaction constructs over a more transaction-specific viewpoint is that it is better able to predict subsequent behaviors and economic performance15. One of the latest formal definitions of satisfaction as a composite construct has been developed by Oliver, who proposed it to be the consumer's fulfillment response, the degree to which the level of fulfillment is pleasant or unpleasant 16. His study integrates these two approaches and defines individual satisfaction as a consumer's personal overall evaluation of satisfaction and pleasure with a given product category and as a cumulative rather than a transaction-specific constructs17. Customer satisfaction has been a popular topic in marketing practice and academic research for Cardozo's initial study of customer effort, expectations and satisfaction 18. Despite many attempts to measure and explain customer satisfaction, there still does not appear to be a consensus regarding its definition19. Customer satisfaction is typically defined as a post consumption evaluative judgment concerning a specific product or service20. It is the result of an evaluative process that contrasts repurchase expectations
12

Oliver, Richard. "Cognitive, Affective, and Attribute Bases of the Satisfaction Response." Journal of Consumer Research 20, no. 3 (1993): 418-430. 13 Johnson, Eric, Wendy Moe, Peter Fader, Steven Bellman, and Gerald Lohse."On the Depth and Dynamics of Online Search Behavior."Manage. Sci. 50, no. 3 (2004): 299-308. 14 Cronin, J.J, and S.A Taylor. "Measuring service quality:A reexamination and extension." Journal of Marketing, 56 (1992): 55-68. 15 Johnson, Eric, Wendy Moe, Peter Fader, Steven Bellman, and Gerald Lohse."On the Depth and Dynamics of Online Search Behavior."Manage. Sci. 50, no. 3 (2001): 129-196. 16 Oliver, R.L, and W.S DeSarbo. "Response determinants in satisfaction judg- ments.." Journal of Consumer Research 14 (1988): 495-508. 17 Olsen, and OttarSvein. Repurchase loyalty: The role of involvement and satisfaction. Psychology and Marketing. New York: Free Press, 2007.Pg-97. 18 Cardozo, R.N. "An experimental study of customer effort, expectation and satisfaction.." Journal of Marketing Research 2 (1965): 244-249. 19 Giese, J.L, and J.A Cote. "Defining Customer Satisfaction.." Academy of Marketing Science Review 3 (2000): 175-186. 20 Gundersen, M.G., M. Heide, and U.H. Olsson. "Hotel Guest satisfaction among Business Travellers: What Are the Important Factors? ."The Cornell Hotel and Restaurant Administration Quarterly 37, no. (2)

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with perceptions of performance during and after the consumption experience 21. The most widely accepted concept of the customer satisfaction concept is the expectancy disconfirmation theory22. The theory was developed by Oliver, who proposed that satisfaction level is a result of the difference between expected and perceived performance. Satisfaction (positive disconfirmation) occurs when product or service is better than expected. On the other hand, a performance worse than expected results is dissatisfaction (negative disconfirmation). Studies show that customer satisfaction may have a direct and indirect impact on business results. Luo and Homburg concluded that customer satisfaction positively affects business profitability 23. The majority of studies has investigated the relationship with customer behavior patterns24, 25. According to these findings, customer satisfaction increases customer loyalty, influences repurchase intentions and leads to positive word-of-mouth. Given the vital role of customer satisfaction, it is not surprising that a variety of research has been devoted to investigating the determinants of satisfaction. Satisfaction can be determined by subjective (e. g. Customer needs, emotions) and objective factors (e. g. Product and service features). Applying to the hospitality industry, there have been numerous studies that examine attributes that travelers may find important regarding customer satisfaction. Atkinson found out that cleanliness, security, value for money and courtesy of staff determine customer satisfaction26. Knutson revealed that room cleanliness and comfort, convenience of location, prompt service, safety and security, and friendliness of

(1996): 72-81. 21 Oliver, R.L.."Cognitive Model of the Antecedents and Consequences of Satisfaction Decisions." Journal of Marketing Research 17 (1980): 460-469. 22 McQuitty, S., A. Finn, and J.B. Wiley."Systematically Varying Customer Satisfaction and its Implications for Product Choice."Academy of Marketing Science Review (3) (2000): 342-349. 23 Luo, Xueming, and Christian Homburg."Neglected Outcomes of Customer Satisfaction." Journal of Marketing 71, no. 2 (2007): 133-149. 24 Dimitriades, Z.S. "Customer satisfaction, loyalty and commitment in service organizations-Some evidence from Greece.."Management Research News, 69, no. (12) (2006): 782-800. 25 Faullant, R., and K. Matzler. "The impact of satisfaction and image on loyalty: the case of Alpineskiresorts.."Managing Service Quality, 18, no. (2) (2008): 163-178. 26 Atkinson, A.. "Answering the eternal question: what does the customer want?." The Cornell Hotel and Restaurant Administration Quarterly 29, no. (2) (1988): 12-14.

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employees are important27. Barsky and Labagh stated that employee attitude, location and the rooms are likely to influence traveler satisfaction28. From the beginning of the customer service revolution almost 20 years ago, a body of business research has focused on customer satisfaction and customer-focused organizations29. All customer satisfaction studies share the same underlying principle: to assess the performance of an organizations product or services on the basis of how they are perceived by the customer. Whether those perceptions are misplaced, lag behind current performance or are a very accurate interpretation, customer perceptions matter. Indeed, understanding these perceptions provides a critical understanding of future customer behavior30. With the 'new economy' knowledge is a resource as well as, increasingly, a product: with tangible goods becoming globally standardized and best practices travelling fast, companies gain competitive advantages through constant innovation, better targeting of customers and additional services. Those strategies cannot be applied to the arm's length type of customer relations. The higher the innovative and service component, the more the customer becomes part of the performance equation. Customer relations then constitute an important asset that should be monitored just like physical assets. Most emerging approaches to the measurement of intellectual capital agree on the importance of customer capital, as expressed in sales, satisfaction and reputation. Accordingly, those approaches distinguish between reference customers (reputation), new customers or first trial customers (new sales) and repeated customers (satisfaction, sales). Independently of approaches to the measurement of intellectual capital, marketing literature has suggested a wide array of industry-specific models to monitor customer satisfaction31. Measuring customer satisfaction allows a business to: 1) know how well the business process is working 2) know where to make changes to create improvement,
27

Knutson, B.."The Cornell Hotel and Restaurant Administration Quarterly." Frequent travellers: making them happy and bringing them back.29, no. (1) (1988): 83-87. 28 Barsky, J.D, and R. Lalbagh. "A strategy for customer satisfaction.." The Cornell Hotel and Restaurant Administration Quarterly.35, no. (3) (1992): 32-40. 29 Zemke, Ron, and Dick Schaaf. The service edge: 101 companies that profit from customer care . New York, N.Y.: New American Library, 1989.Pg-31. 30 "Customer Satisfaction Research."Benchmark Research. http://www. benchmark. research.co.uk (accessed January 15, 2013). 31 Mccoll, Kennedy, Janet, Schneider, and Ursula. "Measuring Customer Satisfaction: Why, What And How, ."Total Quality Management 11/7 (2000): 883-897.

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if changes are needed; 3) determine if the changes led to improvement. Knowledge of customer perception and attitudes about an organizations business will greatly enhance its opportunity to make better business decisions. These organizations will know their customer requirements or expectations and will be able to determine if they are meeting those requirements32. Both practitioners and academics have accepted the premise that customer satisfaction results in customer behavior patterns that positively affect business results 33,34. As a result, customer satisfaction measurement has become a basic construct in the management of firms' customer relationships, resulting in a large number of company, industry, and even national satisfaction measures35. A number of studies support the validity of such a linkage. Research has found have found that customer satisfaction has a satisfaction is positively measurable impact on purchase intentions36, on customer retention37, and on financial performance38. Researchers and word of mouth. It has been proposed that satisfaction has also resulted in an increased share of business a customer conducts with a particular service provider 39. Traditionally, service quality has been conceptualized as the difference between customer expectations regarding a service to be received and perceptions of the service being received 40. In some earlier studies, service quality has been referred as the extent to which a service meets to the customers
32

that customer

associated with outcomes desired by managers, including repurchase, market share,

Hayes, Bob E..Measuring customer satisfaction: development and use of questionnaires . Milwaukee, Wis.: ASQC Quality Press, 1992. Pg63. 33 Kotler, Philip. Marketing management: analysis, planning, implementation, and control . 9th ed. Upper Saddle River, NJ: Prentice Hall, 1997.Pg-118. 34 Rust, Roland T., and Richard L. Oliver. Service quality: new directions in theory and practice . Thousand Oaks, Calif.: Sage Publications, 1994.Pg-94-96. 35 Fornell, Claes. "A National Customer Satisfaction Barometer: The Swedish Experience." Journal of Marketing 56, no. 1 (1992): 6-21. 36 Bolton, Ruth,N.. "A Dynamic Model of the Duration of the Customer's Relationship with a Continuous Service Provider: The Role of Satisfaction." Marketing Science 17, no. (1) (1998): 45-65. 37 Mittal, Vikas, William Ross, and Patrick Baldasare."The Asymmetric Impact of Negative and Positive Attribute-Level Performance on Overall Satisfaction and Repurchase Intentions." Journal of Marketing 62, no. 1 (1998): 33-47. 38 Keiningham, Timothy L., Terry G. Vavra, Melinda K. M. Goddard, and Andrew J. Iaci. The customer delight principle: exceeding customers' expectations for bottom-line success . Chicago: McGraw Hill, 2001. Pg-57-63. 39 Eggert, Andreas, and Wolfgang Ulaga. "Customer perceived value: a substitute for satisfaction in business markets?." Journal of Business & Industrial Marketing 17, no. 2/3 (2002): 107-118. 40 Zeithaml, Valarie A., A. Parasuraman, and Leonard L. Berry. Delivering quality service: balancing customer perceptions and expectations. New York: Free Press ;, 1990.

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needs or expectations41. It is also conceptualized as the consumers overall impression of the relative inferiority or superiority of the services42. Parasuraman et al. Identified five dimensions of service quality (viz. Reliability, responsiveness, assurance, empathy, and tangibles) that links to the specific service characteristics of the consumers expectations43. (a) Tangibles - physical facilities, equipment and appearance of personnel; (b) Empathy - caring, individualized attention; (c) Assurance - knowledge and courtesy of employees and their ability to convey trust and confidence; (d) Reliability - ability to perform the promised service dependably and accurately; and (e) Responsiveness - willingness to help customers and provide prompt service. After a comprehensive review of service quality studies, Asubonteng, McCleary, and Swan concluded that the number of service quality dimensions varies in different industries44. For example, Kettinger and Lee (1994) identified four dimensions in a study of information systems (IS) quality, which did not have tangible dimension 45. Cronin and Taylor developed a one-factor measurement instrument instead of the five-factor measures proposed by Parasuraman et al. 4647. Besides SERVQUAL, Sureshchandar, Rajendran, and Anantharaman have identified five factors of service quality from the customers perspective. Those are- Core service or service produced, the human element of service delivery, Systematization of service delivery: non- human element, Tangibles of service, and Social responsibility.
41

Dotchin, John A., and John S. Oakland. Total quality management in the services . Bradford, West Yorkshire: European Centre for TQM :, 1991.Pg-229. 42 Zeithaml, Valarie A., Leonard L. Berry, and A. Parasuraman. Communication and control processes in the delivery of service quality. Cambridge, Mass.: Marketing Science Institute, 1987.Pg-124. 43 Zeithaml, Valarie A., Leonard L. Berry, and A. Parasuraman. Communication and control processes in the delivery of service quality. Cambridge, Mass.: Marketing Science Institute, 1987.Pg-69. 44 Asubonteng, P., K.J. McCleary, and J.E. d Swan. "SERVQUAL revisited: a critical review of service quality." The Journal of services Marketing 6, no. 5 (1996): 62-81. 45 Kettinger, W.J., and Lee C.C..Perceived service quality and user satisfaction with the information services function." Decision Sciences 25, no. (5/6) (1994): 737-766. 46 Cronin, J.J.Jr., and S.A. Taylor. "SERVPERF versus SERVQUAL: reconciling performancebased and perceptions-minus-expectations measurement of service quality." Journal of Marketing 56 (1992): 55-68. 47 Parasuraman, A., V.A. Zeithaml, and L.L. Berry."A multiple-item scale for measuring consumer perceptions of service quality." Journal of Retailing 64, no. 1 (1988): 12-44.

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After a close inspection it could be safely concluded that the newly defined construct of service quality by Sureshchandar et al. Has some resemblance with the definition provided by Parasuraman et al.48. For this study the researchers have employed the five dimensions of service quality proposed by Parasuraman et al.49. Over the past few years there has been a heightened emphasis on service quality and customer satisfaction in business and academia alike. Sureshchandar et al. 50 Identified that strong relationships exist between service quality and customer satisfaction while emphasizing that these two are conceptually distinct constructs from the customers point of view. Spring and Mackoy also showed that service quality leads to customer satisfaction while working on the model developed by Oliver 51,52. In a recent study conducted by Ribbink et.al revealed that this relationship also exists in the e-commerce industry53. Research in accounting and operations management has demonstrated a significant linkage between operational measures of performance, customer satisfaction and financial performance54. However, research conflicts as to whether nonfinancial variables are contemporaneous measures or leading indicators of financial performance 55. While marketing theory suggests increased profitability through both increased price premiums and increased repeat business, Banker et al. Found that increased profitability was only related to increasing repeat business56.
48

Sureshchandra, G.S., C. Rajendran, and R.N. Anantharaman. "The Relationship Between Service Quality and Customer Satisfaction-a factor specific approach." Journal of Service Marketing 16, no. (4) (2002): 363-379. 49 Parasuraman, A., V.A. Zeithaml, and L.L. Berry."A multiple-item scale for measuring consumer perceptions of service quality." Journal of Retailing 64, no. 1 (1988): 60-70. 50 Sureshchandra, G.S., C. Rajendran, and R.N. Anantharaman. "The Relationship Between Service Quality and Customer Satisfaction-a factor specific approach."Journal of Service Marketing 16, no. (4) (2002): 363-379. 51 Spreng, R.A., and R.D. Mackoy. "An empirical examination of a model of perceived serviced service quality and satisfaction." Journal of Retailing 72, no. (2) (1996): 201-214. 52 Oliver, Richard. "Cognitive, Affective, and Attribute Bases of the Satisfaction Response." Journal of Consumer Research 20, no. 3 (1993): 418-430. 53 Ribbink, Dina, Allard Van Riel, Veronica Liljander, and Sandra Streukens. "Comfort your online customer: quality, trust and loyalty on the internet."Managing Service Quality 14, no. 6 (2004): 446-644. 54 Banker, Rajiv,D., Gordon Potter, and DhinuSrinivasan. "An Empirical Investigation of an Incentive Plan that Includes Nonfinancial Performance Measures."The Accounting Review 76, no. (1) (2000): 65-92. 55 Behn, Bruce K., and A. Riley Jr. Richard."Using Nonfinancial Information to Predict Financial Performance: The Case of the U.S. Airline Industry."Journal of Accounting, Auditing & Finance 14 (1999): 29-56.

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In marketing, a fruitful stream of research has identified and documented a strong positive relationship between customer satisfaction, market share and profitability 57. This linkage has been found to be stronger for services than goods 58. Research has also identified a significant relationship between customer satisfaction and customer loyalty59. In turn, customer loyalty has been shown to have a significant impact on future costs and revenues60. Customer satisfaction is more appropriate to study and analyze the effect of customer management efforts on firms financial performance61. Corporate image has been assessed as an important antecedent of customer satisfaction and loyalty62. In the previous study, Davies et al., has shown a positive relationship between corporate brand image and satisfaction, and this result is consistent with the theory proposed by Davies et al. Martineau stated that if consumers favor image of the store, they will probably develop a certain degree of loyalty, and Selnes also confirmed the influence of corporate brand image on brand loyalty63,64,65. However, Davies and Chun found that corporate brand image had an indirect influence on brand loyalty via customer satisfaction when personality traits are used to portray the corporate brand image in an off-line setting. Some studies say, brand management has two distinct but associated definitions. From a customer standpoint, brand management is related to building strong brands based on

56

Banker, Rajiv,D., Gordon Potter, and DhinuSrinivasan. "An Empirical Investigation of an Incentive Plan that Includes Nonfinancial Performance Measures."The Accounting Review 76, no. (1) (2000): 65-92. 57 Anderson, Eugene W., ClaesFornell, and R. Lehman Donald . "Customer Satisfaction, Market Share, and Profitability: Findings from Sweden." Journal of Marketing 58 (1994): 153-170. 58 Edvardsson, Michael D. Johnson, Anders Gustafsson, and Tore Strandvik. "The Effects of Satisfaction and Loyalty on Profits and Growth: Products Versus Services." Total Quality Management 11, no. (7) (2000): 17-27. 59 Gronholdt, Lars, Anne Martensen, and Kai Kristensen. "The Relationship Between Customer Satisfaction and Loyalty: Cross-Industry Differences." Total Quality Management 11, no. (4) (2000): 1419. 60 Reinartz, W.J., and Kumar V.. "On the Profitability of Long Lifetime Customers: An Empirical Investigation and Implications for Marketing." Journal of Marketing 64 (2000): 17-35. 61 Fornell, Claes, and David Larcker."Evaluating Structural Equation Models with Unobservable Variables and Measurement Error."Journal of Marketing Research 18, no. 1 (1981): 39-50. 62 Wu, C.C. "The impact of hospital brand image on service quality, patient satisfaction and loyalty." African Journal of Business Management 5, no. (12) (2011): 4873-4882. 63 Davies, Gary, R. Chun, R. Da-Silva, and S. Roper. Corporate reputation and competitiveness. London: Routledge, 2003. 64 Martenson, R.."The personality of retail store."Harvard Business Review 35, no. (7) (2007): 544-555. 65 Selnes, F.."An examination of the effect of product performance on brand reputation, satisfaction and loyalty."European Journal of Marketing 27, no. (9) (1993): 19-35.

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brand awareness and brand image66. Going farther, taking current and future revenues as proxies of brand awareness and brand image, financial brand management is the process of linking stable brand names to manage earnings and cash flows67. Both perspectives intend to account for the mental representation of brands in customers' minds 68. However, brand management from a financial standpoint tends to be broader and corporate oriented, i.e. it captures the brand value of a firm as a whole, as a basket of brands.

66

Keller, Kevin. "Conceptualizing, Measuring, and Managing Customer-Based Brand Equity." The Journal of Marketing 57, no. 1 (1993): 1-22. 67 Kerin, R.G., and R. Sethuraman."Exploring the Brand Value-Shareholder Value Nexus for Consumer Goods Company."Journal of the Academy of Marketing Science 26, no. (4) (1998): 260-273. 68 Ambler, T., C.B. Bhattacharya, J. Edell, K.L. Keller, K.N. Lemon, and V. Mittal."Relating Brand and Customer Perspectives on Marketing Management."Journal of Service Research, 5, no. (1) (2002): 13-25.

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6.0 Research Base

The research has been designed on the basis of some questions which are considered as research questions. All these questions aim to instigate the investigation of the research. Throughout the entire research process, the research will try to find out the answer of these questions. Consequently, the answers will bring out the ultimate scenario of the research issue. The research questions of this research are as follows-

6.1 Research Question

a) Does SCB have an enriched product and service portfolio with enough variety and convenience? Every organization gets linked up with the customer by its product and service. In fact it is the core issue of a business. Customers like to have a number of options and choices, from where they can pick up any according to their convenience. This kind of flexibility increases the comfort level of the customer with the company which later turns into loyalty. Being a foreign bank SCB is lining up itself strongly in the competition. However, the competition includes both local and other foreign banks, for which SCB has to offer a unique product portfolio with huge variation. b) Is SCB more reliable and secured for the valuables than other competitive banks? People deposit their most valuable savings into a bank and to some this savings is extracted from the earning of his entire life. As a result every customer expects a highest level of security and reliability from a bank for the deposit. Although SCB is a multinational bank, but still it has to make people understand that they are able to provide this security and reliability. c) Does the performance of SCBs employee show responsiveness and empathy for the customer? Whatever the organization is or whatever their product and service is, customer satisfaction is ensured by the employees of the organization. It is the employee who presents the company product to the customer, solves their problems and

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complaints and tries their level best to make customers satisfied. An employee has to show proper responsiveness and empathy in his behavior to the customer so that customers can feel respective and considered. As a foreign bank, the employee of SCB is highly expected to have the responsiveness and empathy in their behavior. d) Are the employees of SCB capability and knowledge to assure the customers in every service? Customers may not have enough educational knowledge but they have the sense to realize that, whether the employee is eligible to solve the problem or not. If the employee is not capable or knowledge enough then it will automatically be visible in his attitude and this can badly affect the satisfaction level of the customer. In this case, SCB employees are highly expected to have an expert level of knowledge and capability according to the international standard. e) Does SCB have modernized physical appearance compare to other competitive banks? In present time, local banks are presenting itself with hi-tech and modernized appearance in terms of both technology and professionalism. The issue becomes compulsory for a foreign bank as it needs to compete with other foreign banks along with the local banks. In order to attract the customer with first impressions, SCB has to present itself in an exceptional modernized look. Besides, the physical appearance of SCB has to be visible enough to make the customer notify about their modernized and hi-tech approach.

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6.2 Research Objective

Objective refers the desired or needed result to be achieved by a specific time. It comprises measurable, definable, and conceptual steps. Objectives contribute to the fulfillment of specified goals. The objectives of this research are divided into two partsbroad objectives and specific objectives. Broad Objective The overall objective of the project is to measure the level of customer satisfaction of Standard Chartered Bank Bangladesh and its effect on the competitive brand position. Specific Objectives a) Service Diversity: To explore the SCBs product portfolio in terms of diversification and customer oriented focus. We will look for the meaningful benefit of product or services SCB is providing. b) Tangible Assets: To figure out the appearance of physical facilities, equipment, personnel, and communication materials that SCB belongs which will indicate the banks strength towards tangible asset. c) Reliability: To figure out the ability to perform the promised services dependably and accurately on a regular basis under any circumstances. Providing regular quality of service promotes the company sustainability. d) Responsiveness: To evaluate the willingness of the employees and management to help customers and provide prompt service. Employee satisfaction and job satisfaction may affect the willingness of the employee. We will strive for finding the factors affecting the responsiveness. e) Assurance: To measure the base of knowledge and courtesy of employees and their ability to inspire trust and confidence.

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f) Empathy: To identify the employees caring for customers, individualized attention the firm provides its customers. g) Security: To measure the level of security in terms of customers confidentiality, securing of valuables, privatization of password, secured environment for transaction and so on. h) Performance: To evaluate the firms performance based on Financial, operational, CSR, Community services which affect the overall brand position of the firm.

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7.0 Research Methodology

The function of research design is to provide the collection of relevant evidence with minimal expenditure of effort, time and money. But how all these can be achieved depends mainly on the research purpose. Research purposes may be grouped into four categories, (i) exploration, (ii) description, (iii) diagnosis (iv) and experimentation. A flexible research design which provides opportunity for considering many different aspects of a problem is considered appropriate if the purpose of the research study is that of exploration69. The research has adopted the exploration and a description method of proper explanation of the research. In order to make the report meaningful, the research design has been outlined with the following issues The purpose of the research will be clearly defined and common concepts will be used. The research procedure used will be described in sufficient detail The analysis of data will be sufficiently adequate to reveal its significance The validity and reliability of the data will be checked carefully. Recommendation and conclusions will be confined to this information justified by the data of the research

7.1.1 Sampling Design

Marketing research is the sequential designing, collecting, analyzing and reporting of data and findings relevant to a company situation for the measurement of a company's opportunities and potential threats. Based upon this, research sampling design is formed. Sampling unit: The sample unit of this research was the customers of the Standard Chartered Bank. To be more specific, the report considered the customer base of only head office of SCB. The total number of sampling units was 100 approximately. All of them has been picked up randomly. respondent consisted of male, female, different occupation and students too. This

69

James Harold Fox, Criteria of Good Research, Phi Delta Kappan, Vol. 39 (March, 1958), pp. 28586

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Sample size: The sample size was 100 ( it was more or less dependent upon the availability of the customer and other variable issues like time, appointment and so on) Sampling method: Simple Random Sampling (SRS) method has been followed to avoid the complicacy and bring out the result in a systematic and effective way.

7.2 Survey Method

The research conducted a survey method on the defined sample which is customers of SCB. The factors of survey method were as follows Data Sources- This research project tried to apply a standard research methodology. Under this methodology, the project considered secondary and primary data sources. Primary Data- The primary data has been collected through direct questionnaires. Secondary DataThe secondary data source will include various records of the bank, different research paper and newspapers, different Types of brochures, website of SCB, financial highlights of the organization, annual balance sheet, profit &loss account of SCB Survey Approaches the survey approach mainly followed face to face method to conduct the survey. There were arrangements for other methods like telephone and emails as a contingency plan. Survey Research. Behavioral Data: Behavioral aspects of customer group. Research Instruments Questionnaires, which had closed end questions to get a definite opinion to make the analysis simplified. 7.3 Questionnaire Design The questionnaires had close ended question. So, interviewee got a chance to point out the issues specifically and quantify the result with meaningful statistics. Through this, it has become easier to bring out the problem and actual scenario accurately. The questionnaire had approximately 25 questions and all 25 questions were segmented

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under different categories. The categories are not shown in the questionnaire to get the bias free responses from the respondents. The Categories are as followsTable 07: Categories of Question Product and service portfolio Responsiveness Security Empathy Reliability Assurance Performance Tangible asset A measurement scale named as Likert Scale, which has five response categories ranging from "strongly disagree" to strongly agree". It needs respondents to indicate a degree of agreement or disagreement some statements related to the stimulus objects.

7.4 Report Interpretation and Planning

The data gathered from the survey has been analyzed by quantitative approach. Collected Raw Data has been analyzed using the most useful statistical tool on SPSS. Interpretation of the analysis is according to the findings of the analyzed data. As the analysis is from two aspects, so initially each analysis approach has an individual interpretation and after that the research has an overall finding or the integrated interpretation. Writing of the report has been done with great care keeping the following in mind: The layout of the report is as follows: (i) the preliminary pages; (ii) the main text, and (iii) the end matter. In its preliminary pages the report carried the title and date followed by acknowledgements and forward. Then there is a table of contents followed by a list of tables and list of graphs and charts given in the report. The main text of the report has the following parts: Introduction: It contains a clear statement of the objective of the research and an explanation of the methodology adopted in accomplishing the research. The scope of the study along with various limitations is also stated in this part. Summary of findings: After the introduction there is a statement of findings and recommendations in non-technical language.

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Main report: The main body of the report is presented in logical sequence and broken down into readily identifiable sections. Recommendation: On the basis of gathering data and the findings, the researcher tried to suggest some probable guideline with their implementation strategies. There is a concern for risk mitigation ways as well. Conclusion: Towards the end of the main text, researcher again put down the results of the research. This is the final summing up of the entire research work highlighting all the issues including problem, objective, research, findings, suggestion and implementation.

The report has been written in a concise and objective style in simple language avoiding vague expressions. Charts and illustrations in the main report have been used to present the information more clearly and forcibly.

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8.0 Data Analysis

Data Analysis section is the most significant section for any research project. In case of this research, the data analysis first analyzes the demographic variable of the respondents of the survey. This has been done with the aim to signify the analysis of the main data of the survey. Among many different demographic characteristics of the respondents, the research has picked up few ones which are relevant to the research analysis. The analysis of demographic variable helped to understand the logic or base behind the responses of the respondents. After that the data analysis section has focused on quantitative analysis of the research. This is the actual analytical portion which has brought out the finding of the problem scenario.

8.1 Demographic Analysis

Frequency Analysis of Demographic Variable Demographic variable is the most important factor for any kind of research. It significantly affects the responses of the respondents and the ultimate findings of the research. Especially, in case of market based or customer based research, frequency measurement of demographic variable is a very sensitive issue. In this research, the survey has considered some relevant demographic variables which are explained belowSex of the Participant The research conducted the survey among 100 respondents among which male and female were equal in number. As SCB has both male female customer so this was done intentionally to avoid any effect of business. Besides, the pattern of responses directly changes with the effect of gender and this has been viewed in the responses of the research.

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Age Group of The Respondent As a bank, SCB already has a minimum age limit to be their customer. Apart from that, the research has considered the customer from 20 years to 51 over. In order to make the analysis easy the research has divided this entire age range into 5 categories and picked up the respondents randomly. The ultimate result below is showing the maximum respondents from the group of 31-40 age. This has helped the analysis because the people from this group are actually the job holders or businessman and have the extensive use of bank transaction.

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Respondents Occupation Anyone complying the basic conditions can be the customer of the bank. According to this fact, SCB has a pool of customer with a variety of customers in terms of occupation. The research has also considered this variation as the demographic variable of the respondent. The following figure shows the occupation frequency of the respondents. Monetary transaction is completely related with the occupation, consequently, customers expectation regarding with their saving also varies according to that. This is why; the research has a large effect of this demographic variable.

Year of Banking Transaction Year of transaction is a clear indicator of the customer satisfaction in this research. If the customer is satisfied enough then they will have a longer period of banking transaction with SCB. With the aim of measuring customer satisfaction, this demographic variable will directly help to realize the satisfaction level of the customer. The following data are presented to express that the research has considered 4 categories of transaction year where the respondents have allocated themselves.

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8.2 Quantitative Analysis

The quantitative analysis portion of the research has been drawn on the gathered data from the survey. The questionnaire was categorized into 5 relevant categories and each category has 3 to 5 questions. All the questions were designed in a close ended pattern with 5 options. The options were fixed up by following the Likhert scale method where the options started from strongly positive expression and then ended into strongly negative expression in a chronological way. The randomly selected respondents, both male and female, responded openly. After that, the collected responses were expressed in percentage format. In order to express into categorized and thematic approach, the analysis finally made the average of all the individual percentage responses. And at the end, the calculation has been presented in a graphical diagram. At this point, the research needs to mention that, as the graphical presentation has been done on the basis of average percentage so, it might show the maximum expression in positive aspect, this is why; the research has interpreted the data with the reflection of individual questions and the thematic approach as well. 1) Product and Service Portfolio Table 08: Product and Service Portfolio Category 1. Does SCB have an enriched product and service portfolio with enough variety and convenience? Strongly Positive
Variation Level of Convenience Product Benefits in Long Run Average Percentage 0.23 0.13 0.29 0.22 0.29 0.17 0.31 0.26 0.18 0.15 0.13 0.15 0.15 0.32 0.15 0.21

Positive

Neutral

Negative

Strongly Negative
0.15 0.23 0.12 0.17

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The core concept of a business is to earning money by selling a product or service to the customer. Along with this core concept, some additional condition also remains attached which are equally important to consider. For example, the product or service has to have the demand of the customer otherwise no one will purchase it, the company should have variation in its product or service portfolio or else customers will purchase a competitors product to get the variety, another important issue is that, the product or service has to be convenient enough for the customer to pick that up otherwise customer will not be able to purchase even having the demand. This is why; product and service portfolio and its features are very meaningful for the company. The product and service portfolio category has pointed out some areas related to the variation, level of the convenience to select the service and the benefits of the products in the long run. Among 100 respondents, 29% respondent expressed their satisfaction by the variation in product and service portfolio. Another 23% respondent also supported this statement. This means customers are highly satisfied with the variation SCB is provided in their portfolio. This statement has got a positive support with the positive responses for the benefits of the products in the long run. 31% respondent with another 29% respondent has declared that they get the benefit from SCBs product to long run. The positive responses to both these questions, expresses the strong customer satisfaction for SCB. However, customers expressed their dissatisfaction for the level of convenience in picking up the product or service of SCB. With 32% negative response along with another 23% strongly negative response, customer said that they do not find easy to

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purchase a product or service of SCB. It has a huge amount of rules, regulations, restriction which hinders them to purchase. SCB is a complete commercial bank with foreign identity. Like any other commercial bank of our country, SCB has a variety of product and service portfolio. The portfolio of SCB has all kinds of offers according to the different needs and demand of the customer. No matter what is the origin of the bank or from where it came, SCB has designed its portfolio competitive enough to beat the competition with a strong fight. This has been visualized in the responses of the customers who are highly satisfied with the variety of product and service portfolio of SCB. Moreover, customers are also happy with the function of the product and service. They expressed maximum positive responses to say that the product and service are effective throughout the using period. This is a strong indicator for the bank to have a positive customer satisfaction result. Customers are happy with the base of the bank that is their product and service. However, customers do not find the product convenient enough to select according to their necessity. Customers said that, SCB has different kind of products, but a customer has to cross over a number of regulations and procedure to purchase that. And most of the time it becomes difficult for a general person to comply all the regulation. Starting from the mandatory deposit amount for account opening to taking a loan, every product of SCB has lots of regulations compare to other competitors. As a result people dont find easy to purchase any product of SCB. So, customers declared that SCBs products are not at all convenient to pick up. Customers have expressed 32% negative response along with another 23% extreme negative response. This is a complete threatening situation for SCBs customer satisfaction aspect. Implication The category Service and Product Portfolio have been set out in the questionnaire category and some definite questions have been included under it to achieve a specific purpose. And the purpose was to understand the customers satisfaction in terms of diversification of the product and service portfolio of SCB. The researcher wanted to find out whether customers are happy with the verities and other dimensions of the products and service portfolio of SCB or not. The dimensions included the accessibility

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of the products and services, benefits of those in the long run etc. And if the customers are happy or unhappy then what is the extent of it, this was also in the intension. The analysis has found out that the customers are quite happy with variation of the product and service portfolio of SCB. An Even customer found the products beneficial in the long run. However they are completely dissatisfied with the accessibility of the products and services. This means, customers have enough verities of options in the product basket but they need to face a complicated procedure to get those. As a result they expressed their deep dissatisfaction toward SCB and this is a big threat for SCB. Customers are connected with the organization by the product of the organization. In order to have their satisfaction level, the organization needs to ensure the availability of the product for them. If the customers cannot avail the product then the satisfaction issue becomes invalid totally. Thus the customers will start moving to the companies whose products are convenient for them. And this is the consequence of this situation for SCB which urge an immediate solution for the company. However, SCB might argue in the favor of the complicated procedure to keep the ecstasy of the brand value. But, if the customers will not sustain with the bank, then brand value will also disappear in the competition. The solution of this problem should have the capability to ensure the convenience for the customer to avail the products. The research will try to suggest a strategy which will allow the SCB to keep both brand value and customer satisfaction. The implementation strategy will try to provide an effective method to carry out this suggestion where customers will get the convenience to avail the products and services.

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2) Security & Reliability Is SCB more reliable and secured for the valuables than other competitive banks? Strongly Strongly Positive Neutral Negative Positive Negative Trust and 0.32 0.39 0.13 0.12 0.04 Confidence Secured 0.36 0.3 0.1 0.13 0.11 Transaction Confidentiality & 0.3 0.32 0.1 0.16 0.12 Privacy Accountability & 0.32 0.35 0.11 0.13 0.09 Authenticity Competitive Financial 0.29 0.33 0.14 0.13 0.11 Stability Average 0.32 0.34 0.12 0.13 0.09 Parentage Table 09: Reliability & Security Category

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A bank is known as the dealer of money and the money comes from the general people. People from different class and strata, saves their very valuable savings into a bank just to ensure the security first. No matter the savings are for small amount or big amount, every single penny of that savings is very much valuable to the savers. As a result, they want to deposit it in a bank which is safe, secured, which has a trustworthy reputation in the banking industry. Security and reliability is a very important issue in banking business. It works as the pillar of the banking business on which customer satisfaction can be put on. In the security and reliability category, the questionnaire included the issues, namelytrust and confidence, secured transaction, confidentiality and privacy, accountability and authenticity, competitive financial stability. Among 100 respondents, 39% with another 32% strong supporter has expressed their positive responses in trust and confidence issue. Customers have full trust and confidence upon SCB. In case of secured transaction 36% with another 30% strong supporter has declared that they feel completely secure in transacting with SCB. Customers are also satisfied with SCBs policies and practice to maintain customers confidentiality and privacy. This is why; 32% with another 30 % strong supporter has answered in the positive side. 35% respondent with another 32% strong respondent have said that they found SCB authenticator and completely accountable to the customer. They explain all the activities and action behind the account detail of customers. They present the reports and data on their financial condition on a regular basis. Thus, Customers expressed their satisfaction in case of SCBs competitive financial stability as 33% respondents expressed positivity with another 29 % strong positive respondent. Each and every issue of security and reliability category has got the highest positive responses. SCB is a multinational bank which has its operation is many different countries for several years. Even in Bangladesh, it has operated its banking business successfully for many years. The bank has a strong identity reputation as well as the heritage of success. The achievement of reputation and success has come through the way security and reliability assurance. As a foreign and multinational bank, SCB is always expected to provide a high standard of security for the customer deposits and privacy of the information. So that, customers can rely the bank completely with their money.

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Fortunately, the bank has successfully achieved that reliability by assuring the security for the depositors. This is why customers have given their full positive response to the banks security aspect. Customers said that they feel completely secure to transact with SCB, because the bank has assured them with full privacy and confidentiality. Since the beginning, they found the bank with sound financial stability which is getting stronger day by day. In the present competitive market, when government banks are losing their position in terms of ensuring security, SCB is in a strong position in customers perception for ensuring security and reliability. Implication A bank deals with peoples money, in fact the most valuable portion of their belongings. People expect the highest level of security and reliability from the bank to ensure the safety of their asset. It is the banks responsibility to earn this trust and confidence from the customer through their assurance of security and reliability. In case of judging the customer satisfaction level of a bank, this is a very important factor which controls customers satisfaction level directly. This is why; the survey has encompassed few questions regarding this. The analysis found the customers of SCB with high level of satisfaction in case of SCBs security and reliability issues. Whether in case of security in transaction or privacy maintain, or accountability, the customers are highly satisfied with banks practice and procedure. Customers feel completely secure to transact with SCB due to their financial stability. This is undoubtedly a strong point for SCB in the competitive market. This satisfaction level motivates the customer to continue with the bank to be safe with their money. SCB should continue the same practice and procedure under this reliability and security category. This has been proved the most powerful weapon for the bank to grab customer satisfaction. Many of the customers prefer to continue with the bank just because of this issue. Thus the bank will be able to increase the number of loyal customers. And other people will prefer to switch to SCB to have this security.

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3) Responsiveness & Empathy (Performance) Table 10:Responsiveness and Empathy (performance) Category Does the performance of SCBs employee show responsiveness and empathy for the customer? Strongly Customer Service Customer Service in Extreme Case Accessibility of Customer Service Promptness of Customer Service Willingness of the Employees Empathy and Honest Concern of the Employees Flexibility in Policies Individual Care in Emergency Problem Overall Satisfaction Average percentage 0.31 0.14 0.26 0.23 0.27 0.32 0.23 0.28 0.25 0.29 0.15 0.12 0.14 0.15 0.13 0.17 0.29 0.16 0.21 0.18 0.05 0.22 0.16 0.16 0.13 Positive 0.39 0.31 0.16 0.31 0.31 Positive 0.37 0.31 0.17 0.37 0.3 Neutral 0.12 0.12 0.12 0.12 0.13 Negative 0.07 0.13 0.32 0.14 0.16 Strongly Negative 0.05 0.13 0.23 0.06 0.1

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After producing a product, the next task of the company is to deliver the product perfectly to the customer. From production to till sale of the product, every action of the company is counted as their performance. But the performance aspect doesnt end at this point. A company has to provide the after sale service which is also included in their performance aspect. Interestingly, a banks performance measurement starts after selling the product or in other words, after making a person customer of the bank. When a person becomes the customer of the bank, he comes into the need of different kinds of services of the bank. And the banks become liable to provide those services to the customer as promised. In case of a bank this is a very important point of customer satisfaction. In responsiveness and empathy category, the issues that have been included arecustomer service level, customer service in extreme case, accessibility of customer service, promptness of customer service, willingness of the employee, empathy and honest concern of the employee, flexibility in policies, individual care in emergency situations and overall satisfaction of the customer. Customers are satisfied with the customer service level of SCB as they have answered positively by 39% stronger and 37 % positive responses. This is the most important factor to understand the customer satisfaction level. Even in case of extreme situation 31% positive and another 31% strongly positive response came from the customer satisfaction. Customers are satisfied with the promptness of the customer service so, they put 31% positive and 31% strongly positive support. Customers found the employees of SCB are willing to help them; the employees show enough empathy and honest concern for the customers. This is why; customers gave them 30% to 32% positive support. However, customers are not happy with the accessibility of the customer service of SCB due to the various protocols and policies. This why; 32% or the highest respondents expressed their dissatisfaction, and the reason of it, the flexibility of the policy has also got the highest negative responses with 29%. These two negative responses have minimized the level of overall satisfaction but still it has a higher positive response with 25% responding because of other satisfactory issues. The customer service of SCB has achieved a highly impressive response from the customer. Customers are happy with the promptness of the customer service office to provide the service. Customers said that, even in case of any emergency or malfunction

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situation of the bank, the level of the service never gets down. In anyhow, SCB manages to make their customer happy with their willingness to provide the service. The customer service employees show their honest concern and empathy to show their individual care to the customer. Despite of the above fact, customers are not happy with the accessibility of the customer service of the bank. Customers have expressed their strong negativity on the accessibility of the customer service of the bank. They feel that, compared to other competitive banks, SCBs customer service is not easily accessible for any general person. It has a high standard, options, systems and educative protocols which hinder the general people to be their client. Although the bank has various competitive offers but those do not remain usable for the customers as they cannot take any relevant help from the customer service system. This is why; customers have put 32% negative response with another 23% strongly negative answer. Moreover, customers are also dissatisfied as they have never seen SCB to adjust their banking system for any customer in case of any emergency. Customers like to have a flexible option to be relieved for any emergency situation or need some exceptional help to survive any crisis moment. But SCB remains strict in every situation even in case of an emergency. Although some customers find it logical but some think it can be less strict from the banks part. As a result SCB has a mixed view in this aspect which is still alarming because it can turn into complete negative at any time. Customers were asked to express their overall satisfaction about SCB. The question was too general but it expresses the overall status of the customer satisfaction on SCB. It expresses what actually a customer thinks about SCB. Although the question is general but it includes all the responses to individual problems, satisfactions and opinions. This is why; the responses to the question express an average status of the customer satisfaction for SCB. At one point customers are happy with SCB due to many positive aspects and at another point a significant number of customers are unhappy with SCB because of the negativities they expressed. Implications

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The way an organization delivers the product and services and the way they manage their customers and earn profits, both together compose the overall concept of organizations performance. And this performance is the base, by standing on which company serves the customer and achieve satisfaction. The customers give their satisfactory marks to the company when they feel happy by receiving the satisfactory service from the organization. This is why, this category has been included in the questionnaire to find out the customer satisfaction level of SCB regarding SCBs banking performance. The analysis has been found out the customers satisfied with the overall performance of SCB. Customers are satisfied with the banks prompt service and the customer service level. They are satisfied with the employees willingness and honest concern. However, customers expressed their strong dissatisfaction due to lack of accessibility of customer service and also due to lack of flexibility in the policies of SCB. Even achieving an overall satisfactory level of customer satisfaction, this dissatisfaction level is alarming for SCB. All customers do not have the same knowledge level, besides, availing the product is quite difficult which has been found out in the previous analysis. In this situation, customers will lose their motivation to continue with the bank if they cannot get the customer service easily. Moreover, SCB is not flexible enough to alter their policies for any emergency of the customers. All these issues are just against the comfort ability of the customers. If this situation continues in this way, SCB will remain with few customers with whom it will be hard for SCB to survive. SCB should think to remove the problem and improve the situation as soon as possible. The research will try to suggest a solution which will help the bank to ensure easier access of customer service for the customers. Through this solution, the customers will be able to access the customer service most often at the nearest place. An implementation strategy will also be drawn in this regard. 4) Assurance (Employee Capability) Category Table 11: Assurance (Employee Capability) Category Are the employees of SCB capability and knowledge to assure the customers in every service?

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Strongly Positive Employees Are WellTrained and WellEquipped Employees have Enough Knowledge About Bank Courtesy and Manners of The Employees Average percentage 0.45 0.28 0.32 0.35 0.32 0.31 0.31 0.31 0.12 0.15 0.09 0.12 0.07 0.15 0.15 0.12 Positive Neutral Negative

Strongly Negative

0.04 0.11 0.13 0.09

People would like to buy the product of that company, which can impress them from every angle. Employees play vital role in this case because, whatever the product or service a company is producing it is delivered to the customer by the employees. Even the after sale service is also accomplished by the employees of the company. So, the employees need to be enough impressive in terms of their knowledge, capability, professionalism, and manners as well. All these characteristics of the employee assure the customer about the reliability and the capability of the company. This is why, employee capability is very important as they represent the company. Assurance or employee capability category is consists of well trained and well equipped employees, employees have enough knowledge about the bank and courtesy and manners of the employee. In the first issues customers have given 45% strongly positive and another 32% positive support to admit that employees of SCB are well trained and

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well equipped. This impressed them completely to get the organized and systematic service from the employees. 31% respondent with another 28% strong respondent said that they found the employees of SCB with enough knowledge about the products and the banks. As a result customers can rely on the bank that the employees can solve their problems in any case. At the end customers have remarked the employees manners and courtesy level with 32% strongly positive and another 31% positive support. Factually, all the three issues have got highest positive responses which mean customers are highly satisfied with the professionalism and manners of the employees of SCB. As a multinational bank, SCB ensures the highest level of the capability of their employees to approach their customers with the highest level of assurance. The bank has made a standard by which every employee approaches the customers with an impressive professionalism. The bank has ensured that the employees hold enough knowledge and capability to solve the customers query and problems. This is why; customers have given their complete positive response in every sector of employee capability judgment. They find the employees of SCB capable enough to solve their problem as they know enough about the product and services of the SCB. This has proved that customers find full assurance from SCB in case of their each seek to help.

Implications Employees are the one by whom the product and service of the company are delivered to the customers. Thus the behavior, manners and professionalism of the employees directly affect the customer satisfaction level. The research has included this issue in the questionnaire category to measure the customer satisfaction level of SCB is regarding the employees with whom they receive the service. The analysis has found out that, customers are highly satisfied with the overall performance of the employees of SCB. Customers are satisfied to see that employees are well trained and have enough knowledge about the bank. As a result employees are capable and honest to solve any kind of banking problems of the customer.

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This high level of satisfaction is the strength of SCB among the competitors. SCB should continue this standard of their employee performance to retain the customer satisfaction intact. At least, the behavior and honest concern of the employee might minimize the dissatisfaction level regarding the convenience and accessibility of the service. Otherwise, customers will have no motivation to remain with SCB where they will get the service facing so many difficulties and rudeness of the employees.

5) Tangible Asset (Physical Appearance) Category Table 12: Tangible Asset (Physical Appearance) Category

Does SCB have modernized physical appearance compare to other competitive banks? Strongly Modernization Physical Appearance Physical appearance of SCB compared to other contemporary banks Brand positioning of SCB SCBs presence in CSR activities Average percentage 0.2 0.32 0.13 0.26 0.21 0.3 0.21 0.23 0.11 0.08 0.1 0.11 0.25 0.15 0.31 0.21 0.23 0.15 0.25 0.20 Strongly Positive Positive Neutral Negative Negative 0.5 0.3 0.16 0.04 0 0.15 0.11 0.08 0.28 0.38

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Tangible asset or in other words, physical appearance is an important factor in the present competitive market. In the banking industry of Bangladesh, the local banks are developing themselves and achieving an international standard in terms of outlook, technology, equipment and visibility. In this situation, the factor becomes more challenging for a multinational bank to survive in the competition with their reputation. Basically customers express some extra expectation from a multinational bank to get the touch of a foreign standard. This helps them to differentiate the bank with the local banks with foreign style and also help the customers to be satisfied with the bank. The tangible asset category includes, modernization, physical appearance, physical appearance compared to other contemporary banks, brand positioning of SCB, SCBs presence in CSR activities. Customers have expressed their full satisfaction in terms of SCBs modernization, their look and approach. 50% respondent said that they found SCB with a modernized approach in terms of outlook, technology and systems. This has enhanced the brand value with increased customer satisfaction. Customers expect to get the touch of international level from a multinational bank and SCB seems to be successful in that. This statement got more strength from the responses for brand positioning of SCB. Here, 32% respondents with another 30% strong respondent have expressed their positive support towards the brand positioning of SCB. They feel that SCB has successfully established their international brand value in the banking industry of Bangladesh. However, respondents expressed their strong dissatisfaction in terms

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physical availability of SCB. 38% respondents with another 28% respondents have said they did not find enough ATM booths of SCB not even compared with the other contemporary banks. This has created a deep dissatisfaction among the customers, as they cannot get the emergency cash service at any time from anywhere. Customers have expressed another point of dissatisfaction in terms of CSR activities of the SCB. 31% respondents with another 25% respondents have said they expect more involvement from SCB in CSR activities. As SCB is a multinational bank, customers expect their involvement and support more in their distressed situation. This minimal involvement of SCB has drawn a dissatisfaction level in the customers. Being a multinational bank, SCB is highly expected to present them in an actual foreign standard. Customers have an extreme expectation from the bank to get the foreign standard in case technology, modernization, and overall physical appearance. As the bank has experience to operate in many different countries of the world so customers expect that, even in Bangladesh they will show the reflection of that foreign experience through their overall appearance. Starting from the technology including equipments, systems, modernization and to the visibility of the bank, SCB has to be exceptionally competitive according to the international market. In this aspect, customers have expressed a mixed view which includes some strong positive response and also some complete negative response. When the question comes about the modernization and the brand position of the bank among the competitors, customers have expressed their strong positive responses. They are impressed with the technology and the level of modernization of the bank. However, customers have expressed their strong negativity in the case of the visibility of the bank. They said that the, visibility of the bank is not at all impressive, in fact it is still in a very low number, even in case of just a booth. Customers might require any emergency of cash withdrawal but SCB does not have enough visibility of the booth. For which a customer might need to travel a long way to withdraw cash. For this dissatisfaction point customers have given 38% strongly negative answer along with 28% negative answer. Besides, some customers think that, like other foreign banks, SCB has also low number of visible and this can force to customers to switch to the local banks. But on the other hand, some customers think that compare to other foreign banks, SCB has more visibility but still not more than local banks.

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Customers have expressed their moderate dissatisfaction in SCBs visibility in CSR activities. CSR activities are very strong ways to impress the customer as they feel that a foreign bank supports us in our crisis. But, customers find very less number of involvements from SCB in CSR activities. This causes a bit of dissatisfaction of customers towards the bank but it has a big impact on the bank as it is a foreign one. So, as a whole it can be stated the physical appearance of SCB has turned into a risk factor due to the dissatisfaction of the customer. Implication In present days, modernization of the bank has been a compulsory issue. People prefer private and modern banks get the facilities of ATM booth. Thus they will be able to withdraw cash anywhere at any time. Besides, people also expect visibility of a foreign bank in terms of effective CSR activities. This sort of extended visibility creates a positive image and dependency in the customer. Eventually this dependency comes from the satisfaction towards the bank. Thus, the research included this category in the survey to find out the satisfaction level of the customer of SCB regarding their physical appearance as a whole. The customers expressed their satisfaction in terms of SCBs modernization and also in terms of their brand positioning. However, the customers have expressed their complete dissatisfaction regarding the visibility of the bank both in terms of the number of ATM booths and also CSR activities. The customers expect more amounts of ATM booths in more nearby places. Besides, customers want SCB to involve more in the CSR activities as a foreign national bank. SCB should put emphasize on this finding of the customer dissatisfaction issues. Customers need the flexibility of the cash withdrawal to support their any emergency at any time. If they cannot get that, then they will start to look for someone else who is providing the service. And competitors are waiting to grab these customers. Thus, this dissatisfaction level can turn into the reason of low customer level and low profit for the organization. Besides, customers want SCB to undertake wide participation in CSR activities. Being a foreign bank SCB should do this to impress and enhance satisfaction of the customer by making them feel that SCB is with them at any distress.

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SCB should look forward to remove this problem for the research, which will try to show a guideline. The research will try to suggest a way to increase the number of ATM booths by maximizing the financial resources. Besides, the research will try to suggest an effective way of CSR activities which will be quite different from the regular way SCB is doing so far. Thus they will be able to impress the customer efficiently. The implementation guideline will try to draw the planning to implement these strategies.

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9.0 Findings
The research has designed the analysis plan on the basis of primary data collected through the questionnaire survey. The survey was conducted on the customers of SCB in Dhaka city only and the questionnaire consisted of only close ended questions. This has made the analysis completely focused towards the purpose of the research. In order to arrange the data systematically for mathematical analysis, the questionnaire was divided into categories. Moreover, the analysis and interpretation were also presented according to the thematic category of the questionnaire. The aim of this research was to measure the customer satisfaction level of SCB and its effect on the banks brand position. With this aim, the research has surveyed 100 customers of SCB in Dhaka city under a questionnaire based survey. The questionnaire had all closed ended questions but all were categorized under 5 basic concepts of customer satisfaction. This has helped the research to draw thematic analysis and interpretation which lead to an ultimate finding. The ultimate finding has revealed a mixed scenario for SCB as a whole. In case of product and service portfolio features, the customers of SCB have declared that they are happy with the variety of the overall portfolio. With maximum positive responses, customers said that they find all their desired products and services in the product and service portfolio of SCB. And the products and services benefit them throughout the lifetime of that product. However, customers are not happy with the convenience to avail any product of SCB. They said that, a customer need to have a high level of solvency and status of education just to be the client of SCB and availing other facilities remains out of the question for them. This is a clear negativity for SCB for which they are just getting scoped with a particular customer category. And this cannot be considered as a mass level of customer pool which other local banks are achieving now. Surveyed customers have expressed their strong positivity on security and reliability aspect of SCB. They stated that they feel secure to transact with SCB as they can hold their complete trust and reliability on SCB. The customers found SCB maintaining their

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privacy and confidentiality with full priority and seriousness. Besides, customers found SCB with a stable financial condition even in the crucial financial situation on the capital market. This is why customers feel safe to save in SCB without any doubt. This is of course a strong point for SCB as it proves a strong level of customer satisfaction. In the banking business, achieving customers reliability and confidence is the most challenging issue as the concern point is related to money. This is true that, since inception in Bangladesh SCB has performed with sound financial stability and reputation. If the customer state that they feel secure with the bank it means they can rely on the bank for their valuable savings. This is the strongest expression of satisfaction which can work as the weapon for SCB. In case of a banks performance, again customers have expressed a mixed expression. Customers said that they are happy with the level of customer service standard of SCB. Customers get prompt service from the bank for sure. Even in case of any emergency of the bank for example power failure or system failure or resource shortage, the bank doesnt seem to compromise with their customer service level. They keep the standard at same upward level in any situation. But customers are not happy with the way or procedure to avail the customer service. Most of the customers have expressed their strong negativity in this case. They said that the accessing customer service of SCB includes a high standard of systems, protocols, and of course education. It is very much difficult for a low level person to access the customer service of SCB after crossing all the protocols. The system has become more complicated after introducing the Q-management system which was actually aimed to organize the customer service process. Unfortunately the entire process has become too complicated and not at all user friendly. Even in case of educated high level person, the complicacy and the protocols of the service takes his valuable time away. As a result both high and low level customers get discouraged to continue with the bank for long. Moreover, customer hardly found SCB to modify their banking rules for any emergency of any customer. SCB can give logic for this, that they approach the sophistication of their brand through this protocol. This strictness lessens the motivation of the customers. This is a highly risky situation for SCB that should be notified as soon as possible.

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Customers of SCB are quite satisfied with the performance of the banks employees. As the employees represent the overall bank to the customer, so the performance of the employee actually influences the level of customer satisfaction. Whatever the system or regulation of the bank is, an employee can present that in an easy way to the customer or vice-verse. The employees of SCB are quite successful to satisfy the customer with their performance. The customers found them with enough knowledge about the banks product and services. The customers said that employees are capable enough to solve their any kind of problem. In fact employees show their honest concern and responding to the customers' problem. Customers expressed their strong negativity in case of physical appearance of SCB. Although, customers agreed that SCB has an international standard in terms of its outlook, technology adoption, and modernization as well. Customers accepted the fact that SCB has successfully given the customers an experience of transacting in an international standard. Nonetheless, customers are dissatisfied with the visibility of the bank and ATM booth as well. Customers said that, they need at least an ATM booth here and there so that they can meet up their emergency cash requirement sharply. Unfortunately SCB has very minimal level both in the case of the booth and banks as well. On the other hand, local banks are more visible and available, with both booth and bank, to the customers for their emergency need. Though SCB is advanced compared to its contemporary other foreign banks but still local banks are beating the overall competition in this case. This is a very important factor for customer satisfaction where SCB got a strong negative marking. Moreover, as a foreign bank, SCB is expected to be involved extensively in CSR activities. This helps to get customers positive perception towards the bank. But, SCB has again a low number of CSR activities compare to other local banks. This has made the impact of previous negativity more effective for the bank. The customers have expressed their both positive and negative reactions for SCB; as a result SCB has got an average result as an ultimate finding. The statement has its proof through the question where customers were directly asked to express their overall satisfaction of the bank. And the customers have declared an average result, where some

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people express their satisfaction with the bank, and other almost equal numbers of people have expressed their dissatisfaction to SCB. This is neither a bad situation nor a good situation for SCB. Category Product and Service Portfolio Security and Reliability Responsiveness and Empathy (Performance) Assurance (Employee Capability) Tangible Asset (Physical Appearance) Table 13: Summary of the Findings Finding Moderately Dissatisfied Satisfied Moderately Dissatisfied Satisfied Dissatisfied Ultimate Finding

Average Level of Customer Satisfaction

However, the situation can best be stated as an alarming situation for the bank. Because, the portion of positives can turn into negatives if they are not taken care of properly and the portion of negatives can turn into worst if they are not rectified immediately. And the ultimate effect will hit the competitive brand status of the bank. So, SCB is in a kind of trade off situation, where their effort to keep the elegance of the brand is affecting the customer satisfaction, and on the other hand, ensuring customer satisfaction force them to come down to the local level But of course the bank cannot come down alone, it will obviously bring the brand elements along with it.

10.0Recommendation

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As the analysis of the research has brought out the actual status of the customer satisfaction level of SCB, similarly, finding of the research has explained some important facts of the analyzed results. The finding has elaborated the situation with background as the reason and also with the probability of future happenings. Consequently, the finding has instigated the need of a formal guideline of recommendation on the problem scenario. Therefore, the recommendation has been given in segment, one is specifically for the identified problems in the findings, and another one is in general as a preventive measure.

Specific
a) Convenience and accessibility SCBs customer satisfaction is getting affected mostly by the lack of convenience and accessibility. SCB has different kinds of products but those are not in the convenient or accessible position for general customer. They have to adopt a sophisticated standard of eligibility after crossing huge complicated protocols and regulations. These affect time and efforts of the customer and discourage them to be the client of the bank. So, if the bank is for the customer and its products and services are to serve the customers purpose then the bank and its products and services have to be convenient enough for the customers. Thus they can purchase the product easily and can also avail the service of the bank easily. If it costs few steps of diminishing the brand status, even it should be compromised to achieve the customer satisfaction. Otherwise, neither the bank will survive nor the brand image. b) Visibility Increase The second responsible issue for customer dissatisfaction of SCB is its least number of visibility in terms of booth and bank as well. Life in present days has become very fast and unpredictable and people need support to get cash in any sudden moment for any sudden emergency. The concept of ATM booth is actually emerged to facilitate this emergency need of the customer. Unfortunately, SCB is far behind in the competition in this aspect. Although the bank has approached the customer with the complete modernized look, but that look is hardly seen. When other local bank is giving the same services with more visibility, then people do not find any strong reason to open an account in SCB

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and then walk for miles after miles to get an ATM booth. This is why, SCB needs to increase its visibility more and more. c) Flexibility Customers have expressed their moderate dissatisfaction due to the policy strictness of SCB. At first the bank incorporates so many rules and regulations and criteria to maintain their brand standard. And then they just tie up those rules with strict policy keeping no space of flexibility to alter. Customers have very rare examples when SCB has altered their policy to serve any emergency of any customer. This discourages a customer strongly to continue with the bank. As the bank deals with peoples money, so the first concern should be the solution for the customer with their own money. This is why; SCB should ensure a minimum level of flexibility in their policy at least for some emergency cases. Again, if it costs compromising with the brand status, even though the cost is worth to avail the customer satisfaction. d) CSR Activities CSR or Corporate Social Responsibilities have become a very promising aspect of the brand holding companies. In the developing and disaster prone countries like Bangladesh, CSR activities have become almost compulsory for the big business names. On the other way round, this is a strong weapon to reach the mass people and achieve their satisfaction emotionally. When people will see a foreign big company is helping the distressed people of his country, he will feel obliged to that company. This will influence him to be the client of that company. In this aspect, customers have an average view about SCB which not false in practical example. SCB has really very little presence in CSR activities according to their capability and financial stability. Being foreign bank, they should come forward more from CSR activities especially to the root level. This will help them build up a person concerned image among the customers and eventually will ensure the customer satisfaction as well.

e) Collecting Customer Feedback

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No matter whatever brand value SCB wants to create, it is surviving upon the customers satisfaction. This is why; customer value has to get the top most priority. Knowing the customers demand and desire means collecting customers feedback on the banks performance. However, SCB can claim that they have the provision or an opinion box where customers can drop their opinions and feedback. But this is applicable only to those customers who are going to the branch office and feel like to say anything. It happens most of the time that customers have dissatisfaction, but do not utter that as nobody push them forward to do so. This research is an example of this situation, where customers have expressed their some dissatisfaction points when they have been asked or pushed. This is what SCB has to do means; SCB has to collect customer feedback in a mass level. It will not be limited to only those who are willing to say, the bank will ask both SCB customers and non SCB customers to get their view. This will help SCB to know what more their existing customers expect, where they are having dissatisfaction, and also what non SCB customers expect to switch to SCB. f) Easy Guidance for the Customers If customers cannot reach to the level of banks brand status and if the bank also wants to keep both customer satisfaction with brand value then, one solution can be, the bank has to deliver the service according to the customers ease. In Bangladesh, where Bangla is most preferable for general people, SCB uses English in total procedure of cash withdrawal. This is one of those examples of SCBs systems that discourage the customers to continue with the bank. Even if the customers avoid going to the branch for any other service, but still they need to use ATM booths for cash withdrawal. And they feel awkward to process the transaction in complete English manual. SCB should introduce easy guidance for the customer which will increase the knowledge of the general customers for using ATM booths and other service of the bank. This will enhance the convenience of the products and services of SCB, and customers will feel motivated and satisfied to use the service of the SCB.

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General
The general guideline has been outlined including the following issues Use Key Performance Index (KPI) or in short how many customers are served effectively in a stipulated time. Monitor employee activity regularly and takes special care during rush hour. Motivate employees to serve customers at a time effective way. Though it might resemble that SCB is providing the right solution in most cases, it is also a warning that the percentage of right solution is not up to the fullest. SCB can take service evaluation to check whether their service were up to satisfactory level or not. Though employees are presumed to have willingness to help all the time, the response graph says that there is a possibility that employees are not professionalism their service all the time. So their line manager should sit and talk with them about this issue. Fair fees structure is a major issue of customer satisfaction. Fee structures are thereby updated considering market trends and other financial and economic factors. Customers are happy when they get fair fee structures. To them, the word fair includes local and global reputation of the bank, brand image, value chain etc. So these things should be considered while rescheduling the fees. Intelligence software should be used to trace the different payments made by different categories of customers for different products to analyze the performance of the distinguished customer base or the distinguished product group. Specific time frame should be set for placing an order and making a sale done. For example there should be a time limit for checking customers credit status, for the required formalities and for the other associations activities thereby.

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The database software should be developed to generate instant reports based on the data stored in the system. Again, this software should be used to maintain records of products used by different customers and which customer is handled by which relationship manager. Furthermore, the database should be updated regularly so that the current status of the customers and the related payments can be got efficiently and effectively. Take initiative to make customers understand the usage of Straight to Bank System and the benefits of using that system. For example, carry out training session for large customer groups.

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11.0 Implementation
Every research is chronological and sequential procedure where each additional chapter is dependent upon the previous chapter. In this way, this research is also going through a sequential way, where the implementation guideline has been planned on the basis of recommended solutions. Although the recommendation has been listed in two categories, but the implementation guideline will be planned for only specific recommendation as these are expected to be the most meaningful for SCB.

Market Segmentation
Throughout the entire research, an important finding has come out that is, SCB fails to grab the general customers which include a huge number of low and middle class people. The service and the product of SCB are designed in a highly sophisticated way which is not easy to access by the general people. This has made the customer size of SCB very short compared to other competitors. The root of the problem is within the market segmentation strategy of SCB. In order to give the priority to the brand status, SCB has scoped themselves within only upper class people. Strategy In order to overcome this problem and expand the customer size, SCB has to redesign their market segmentation strategy. In this redesign process, the survey and the analysis should allow SCB to target more than one customer group. In considering the role of segmentation, the deepest decisions are whether to revise the business model in response to how social forces are changing the lives of different types of customer, how to position a brand, which segments to pursue, and whether to make fundamental changes to the product or to develop an entirely new product. The shallowest decisions are concerned with issues like whether to make small improvements in existing products, how to select targets of a media campaign, or whether to adjust prices. The segmentation process will follow Strategic segmentation. As it links to the

management vision and strategic intent of corporate strategy and emphasizes product benefits that different types of buyers seek. This is exactly the beneficial one for SCBs present condition.

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Execution of the Strategy When SCB will have new target groups of customers, the entire marketing strategies also have to be segregated according to that. In order to manage the target group of general customer, SCB can create an individual wing or substitute business unit. This wing will run their target business individually with individual marketing strategies and mechanism. Although it will be under the main bank, but will focus completely on the general customer group. And the main bank will deal with the previous segment of high class people. SCB has to redesign the product for new targeted customers who are low and middle class people. The redesign of the product will ensure the convenience and accessibility of the customer. For example, a minimum required amount for account opening, easy way of authentication and verification, easy access to customer service etc. Resources The entire process of market segmentation will definitely require a huge investment of both financial and nonfinancial resources. The requirement of nonfinancial resources can be in the areas, which includes- Human resource from R&D department for survey of the market, and data collection and data analysis, Involvement of marketing and planning department to design and initiate the strategies, Effort from production and operation department to start up the production and sale, An involvement from promotion and public relations department will also be required as the decision of new marketing strategy and target group has to be promoted to inform the people. Implementation of any kind of strategy requires a contribution of financial resources. Although the proportion varies with the pattern of the strategy but still the significance remains equally important in every situation. Planning of financial resource is more crucial especially in this kind of strategy where the bank has to redesign its entire marketing strategy. The financial investment will be required in the areas, namely, Survey and Data analysis, Production and operation of the new products, and Promotional activities. The figure can turn into a significant one for SCB as the strategy demands to work on from the root level of customer to the top level management level.

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Responsible Person to Implement Redesigning a completely new marketing strategy by extending the market view is not an easy job. It requires the team effort of the entire organization. Where, the main responsible body will be the authority of R&D department, marketing and planning department, finance department and ultimate head of the bank or country director of SCB. Timeliness This strategy requires quite a long duration period to plan, design and establish the entire market segmentation process. 6-8 months duration can be assumed for the moment, to establish this strategy. Tasks Scheduled on Priority Tasks /Months Meeting with all the departments and idea discuss Plan the draft of market segmentation Market survey Analyzing the survey result Design the strategy of market segmentation Match the budget and planning the investment Approval of concerned departments and authority New product design for new market Starting up the production and sell When a strategy is drawn, it is drawn upon a planned situation with some presumed conditions. Eventually, every strategy needs to have an alternative in case of any changes in any presumed conditions. This strategy aims to increase the span of SCBs customer pool with classified segmentation. Thus, SCB will be able to reach to mass people of customers in the competitive market. The strategy is designed to be implemented through some strategic steps which is mentioned in the timeline. However, the crucial point lies in the analysis 1 2 3 4 5 6 7 8

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of the market result step. If, the result turns into negative or even unprofitable then the strategy will not proceed to the further steps.

Wide Establishment of ATM Booths and Branch Bank

In the second phase of problem segment, SCB is suffering from insufficient number of visibility. This means SCB has fewer amounts of ATM booths and branch banks compare to other competitors. People need the location and time flexibility for cash withdrawal so that, they can get their cash in any sudden emergency at any time at anywhere. Thus most of the people prefer account in Brac bank or DBBL rather in SCB. Strategy The rectification of this problem would only be to establish the ATM booths and branch banks in a wide level. Although the establishment of ATM booths and branch banks require a huge amount of investment, but the need for visibility is an emergency issue to achieve the highest level of customer satisfaction. Therefore, an alteration can be done in the strategy which can save a significant amount of investment.SCBhas to establish a wide and vast network of ATM booths like Brac bank or DBBL. No compromise can be done in this case to achieve customer satisfaction. But, the bank can save money by modifying the plan of increasing the number of branch banks. Execution of the Strategy Instead of establishing a complete branch bank, SCB can deploy a customer service officer in the ATM booth station. This officer will be equipped with a computer and the banks intranet network. Through this, he will be able to solve most of the problem of the customers. Under this plan, every ATM booth will have one customer service officer to help the customers from all categories. Resources Implementation of this strategy also requires a significant amount of financial investment to establish ATM booths, to establish a computer connection in the booths, to design and establish an intranet network, to recruit numbers of customer service officers and to train

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them. This strategy itself is quite complicated where the financial investment needs to be handled very carefully. Thus, the proper implementation of all the steps can be ensured. Nonfinancial resource includes the main effort from the marketing planning division to plan and to design the ATM network. After that there will be a financial cost and benefit analysis of the finance department. The strategic thinking from the top management will finally polish the strategy with their approval. The effort from human resource division in recruiting the customer service officers and to train them also needs to consider in the nonfinancial resource category. Responsible Person to Implement At the beginning of the strategic planning, key resource will be the head of the marketing planning department, head of the finance department and the top management. After that, when the strategy will be in action the key resource person will be the head of human resource division and the customer service officers themselves. Timeliness This strategy also requires a significant amount because of recruitment, training, establishment of the ATM booths etc. Besides, the process is considered to be a continuous process. However, roughly 1 year can be duration can be fixed up for the moment to establish this strategy. Tasks Scheduled on Priority Tasks /Months Meeting with all the departments and idea discuss Plan the draft of ATM network and intranet technology Market survey Analyzing the survey result Design the final network of ATM and intranet Match the budget and planning the investment Approval of concerned departments and authority 1 2 3 4 5 6 7 8 9 10 11 12

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Recruitment and training of the customer service officers Technology formation for ATM booths and intranet Starting up the establishment process of ATM booths and intranet Every strategy has a core step which actually decides that whether the strategy would be feasible for the organization or not. This strategy aims to ensure the access of customer service to all the customers of SCB in an excessive level. In this case, the core step lies on the market survey result. If the result turns into positive from all the aspect including financial and management perspective, then SCB will surely adopt the strategy, otherwise, it will not be a wise thought anyway.

Wide involvement in CSR activities

Another point of dissatisfaction has risen about the extent of CSR activities of the SCB. As a foreign bank, SCB is expected to be involved in a wide extent of CSR activities. Unfortunately, SCB has a very less involvement in CSR activities so far. CSR is the most effective way to reach the people in a mass level. It helps to grab peoples attention and customers satisfaction both. Although the involvement requires again a huge investment of financial resources, but still it is necessary to build up a good reputation of the brand image and also to strengthen the customer satisfaction. The strategy has to be designed very technically to reach the mass level as much as possible. Strategy Most of the organization does the CSR activities for the big issues and gets associated with reputed NGOs to get the customers easy notification. SCB can look for smaller issues of social development but the impact will be effective. As SCB is already a big established brand so, it should not strive to get attach with another big named NGO. Rather, if it can show the people that they are reaching the grass root level to remove social problems, if they can prove that they are concerned with the social problems rather

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to their brand status, then the bank will be able to accumulate an enormous support and satisfaction from the customers. SCB will design the social development projects into community level which will be operated and monitored by the branch office of that location. In order to design the project and its feasibility judgment, SCB will hire some project analyst or consultant. The project will allow an account to each employee related to the projects. This will help to increase the customer size of SCB from where the bank will be benefited later on. Besides, the employees working on the projects will turn into the customer of SCB and will remain attached to the bank even after finishing the projects. Resources The strategy will require a significant amount of financial investment to hire a consultant, to analyze the feasibility of the project, to initiate the project, to recruit extra human resource for the project, to continue and monitor the project. In order to implement this strategy SCB can presume to invest a handsome amount of financial resource, thus the bank needs to do an extensive analysis before the investment. The non-financial resource will include the involvement of project analyst, strategic thinking of CSR department, budgetary consideration from the finance department, the recruitment effort of human resource department, and the approval of top management. Responsible Person to Implement The key responsible person for this strategy will be the project analyst, workforce employed in the project, head of CSR division and also the head of the finance department. Timeliness This strategy is completely based on situation and demand. Like the previous strategies, it is also a continuous process. According to the community need and project design, the time duration of the projects will be varied. However, the initiation of this strategy, which means arrangements to start a community development might require 1 long year. The reason may include the recruitment of consulting, design of the project, initiation etc.

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Tasks Scheduled on Priority Basis Tasks /Months Meeting with all the departments and idea discuss Hire a development project consultant Plan the project idea and select the area Project personnel recruitment Survey Area Design the project plan Match budget and other resources Approval of concerned departments and authority Training to the project personnel Starting up the project and operationalize Similar to the previous strategies, this strategy also has a core step which will decide the future of the entire strategy. In this case, the core step lies upon matching the budget and other resources. If the budget of SCB does not support to do enough or designed development project or the resource is not sufficient enough, then SCB will have to modify the strategy according to their limitations. 1 2 3 4 5 6 7 8 9 10 11 12

Conducting Customer Survey

The recommendation portion suggested SCB to collect customers feedback at mass level. The recommendation portion has also indicated to include both SCB and non SCB customers in the survey area. Thus SCB will be able to know what non SCB customers need to be the client of SCB. The strategy has to be designed keeping this indication in concern. Strategy The first condition was to collect the feedback in a mass level and the indication was to include both SCB and non SCB customers. SCB has to conduct an easy questionnaire survey in home to home basis. Thus the SCB customers and Non SCB customers both will get a chance to express their expectation, comments and opinion for the bank.

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Execution of the Strategy In execution part, the strategy will hire some student helpers who will conduct the survey. These student helpers will go door to door, visit the general people, ask them the questions and put the collected answers. The student helper will fill it up by asking and then they will ask the person to check his answer and then sign thereby. This will help the customer don't feel bored or irritate with the survey. SCB can divide the country according to zonal basis and deploy the teams of the student helpers to different zones. Each team will have 2 student helpers and will have to visit at least 100 persons in one week. Teams will have to report to the SCB about the current status by weekly. In this way, SCB will be able to get the full picture of each city gradually. Resources This strategy will require a huge support and involvement from the human resource department. They will hire the student helpers who will ultimately do the survey. It will also require involvement from R&D department to analyze and bring the findings of the survey. Although this strategy does not have that much complicated process or steps which will demand huge financial investment, but still it requires some amount of financial investment to operationalize the process. It will need financial investment to recruit and maintain the student helpers and also to conduct the survey as a whole. SCB has to be concerned with the financial investment, so that, there may not have any misuse by any student helpers. Responsible Person to Implement This strategy will be carried out with the complete supervision from the HR department and R&D department. The head and employees of these two departments will be the main responsible person. After getting the result it will be handed over to the marketing and operational department. Timeliness

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This strategy is a continuous process as customers demand is changing every day. However, to complete one session of survey should take 2 months maximum and the overall starting up process may take 7 months time approx.

Tasks Scheduled on Priority Tasks /Months Meeting with all the departments and idea discuss Plan the survey work and area division Match budget and other resources Approval of concerned departments and authority Recruit student helpers Provide training to the student helpers Starting up the survey Analyze the result Submit the result to the concerned department Surveying the customer is always positive and good for the company as it puts light on the mindset of the customers. However, anything negative can be appeared anyway from the discussion step of management and the departments. This is why this is the core step in this strategy. If the departments feel this strategy needs to be modified according to the SCB policy, then amendment can take place to make it fruitful. 1 2 3 4 5 6 7

Providing Guidance in Understandable Method

In order to maximize the convenience and accessibility of the product and service among general customers, SCB has been recommended to ensure easy guidance for the customer. The indication has been given to focus on language barrier in at least ATM booths for cash withdrawal. The implementation strategy has been designed keeping these in mind. Strategy Under this strategy SCB needs to focus on making the cash withdrawal system easier in terms of both language and action. As Bangla is a convenient medium to understand and communicate SCB will try to arrange their mechanism in Bangla. Besides, the bank will

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introduce a demonstrative method to teach the customer about the procedure of cash withdrawal. Execution of the Strategy For execution of this strategy, SCB has to introduce 2 dimensions of ease in understanding. It first, SCB has to introduce a demonstrative video in all ATM booths where the process of cash withdrawal and other services of ATM machines will be shown. In the second dimension, the mechanism of an ATM machine and the demonstrative video will have both English and Bangla version so that, everyone will be able to access the service. Resources This strategy will require a huge effort from R&D department and also IT department plan and design the mechanism of introducing demonstrative video and Bangla in every step of ATM. Besides, this strategy will require a huge amount of financial investment plan, design and set up the mechanism. Again in this strategy, SCB has to be very careful about the financial investment as it includes, software generation and implementation works throughout its all the ATM booths. Responsible Person to Implement The main responsible person to implement this strategy will be the personnel from R&D department and IT department. These people will require the backup from the head of the finance department and top authority. Timeliness This strategy will require quite a long duration of time to establish the mechanism completely. However, 1 year of time can be assumed for the moment. Tasks Scheduled on Priority Tasks /Months Meeting with all the departments and idea discuss Plan the draft of technology for 1 2 3 4 5 6 7 8 9 10 11 12

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Bangla and demonstrative video Market survey Analyzing the survey result The final design of the technologies Match the budget and planning the investment Approval of concerned departments and authority Technology formation to add Bangla in the ATM booths and also to create demonstrative video Starting up the establishment process to add Bangla in the ATM booths and also to create demonstrative video This strategy is to some extent sensitive for both the bank and customers. Thus, the bank has not just to introduce Bangla in their ATM language they also have to make it sure that language is understandable to the customers. Moreover, the demonstrative video also has to be understandable enough for the general customers, otherwise it will lose its meaning. Before planning for Bangla and demonstrative videos, the bank needs to know what kind of ease people needs in the language and also in the video. All this will come out from the market survey result. Thus, if the result goes beyond the capacity level of the bank then some intermediary step in both customer expectation and banks capacity can be arranged.

Promotions to inform about the Visibility

SCB has been suggested to increase the extent of physical appearance by increasing the number of ATM booths. And an implementation strategy has also been designed to increase the number of ATM booths. However, the customers need to be informed about this increased level of visibility. Although, ATM booths itself has a physical appearance to inform about the visibility. But maybe people from Dhanmondi does not know that SCB has an ATM booth at Baily road, and because of this unawareness, people have to alter many of their important decisions related to the locality and the situation of SCBs

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ATM booth. Thus, along with the increasing number of ATM booths, SCB has to promote this issue to validate the visibility. Execution of the Strategy SCB can go for promotional advertises on TV and radio, these are the most viewed and effective mediums. Besides, SCB can publish their specific ad in a different social network sites which have a huge aspect of different kinds of people. The ads should not be so long otherwise it will incur unnecessary investment. Besides, the ads will have to ensure both formal approach and understandability. Otherwise, the brands might lose their value and customer satisfaction both. Resources This strategy will require a significant involvement with marketing and operations program to design the content and standard of the ads. Besides, the medium of the ads will also require the attention. On the financial aspect, the strategy will require a huge investment from financial resource. This will be incurred to plan, design, shoot and publicize the ads. SCB can expect to have an investment according to the market trend. However, SCB needs to be concerned about the standard and the quality of the promotional activities even by incurring some extra cost. Main Responsible Person to Implement The main responsible body to implement this strategy will be the marketing and operational department of the bank. Besides, the whole strategy will need the support of the finance department as well. Timeliness Like the previous strategies, this strategy is also a continuous process. However, each initiation of an ad creation should take maximum of 1 month. Tasks Scheduled on Priority Tasks /Months Meeting with all the departments and idea discuss Design the plan with marketing and operation department Match budget and other resources Approval of concerned departments and authority Select the mediums 1 2 3 4

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Hire an ad maker for all mediums Starting up the ad making and operationalize Although this strategy does not have that much complicated steps and process but still it has an crucial step where it can turn a back step. Thus, the core step of this strategy lies with matching the budget and other resources. If SCB finds the cost of the promotional activities beyond to their budget and resource constraints then the strategy can be implemented with some modification.

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12.0 Anticipated Benefits of the Recommended Solution

The guideline of the recommendation of this research has been designed on the basis of the problems identified in the analysis and the finding. The guideline has the aim to support SCB for improvement of the problem areas maximizing the company benefits as well. As a part of the banking business, SCB is ready to step forward to improve the situation but the recommended actions have to be adjusted with the resources of the bank. While designing the guideline of the recommendation, the research had to bear this in mind that, the recommended actions have to maximize the benefit of the banks resources. On the basis of this the implementation procedure has also been planned in the above sections. The first recommendation for SCB is to ensure the convenience and accessibility of the product and customer service. As SCB has to maintain the brand position, so the implementation has plans to redesign the market segmentation and apply the strategic market segmentation policy. Here, SCB will be able to target the low and middle class people which will be handled by a completely separate business wing of SCB. This will help the bank to target people from all segments and will also help to increase the number of total customers. As an individual business unit will deal with the second target customer, so SCB will be able to run the sophistication of their brand in high class wing individually. Besides, SCB will be able to create another dimension of their brand in the general class wing, where the bank will be able to reach the customer through the convenience and accessibility of their products and services. This will motivate the customer with the customer orientation approach of the bank. The customer will feel privileged as he/she will get a chance to open an account in a bank with an established brand value. And customers are getting this access according to their convenience. This is the most important factor for the customers to gather a satisfaction toward the bank. Besides, the customers will get reliability, security and the associate brand value along with a simple account. At one point, this will encourage the general people to be the client of SCB which will increase its customer size. And at another point it will satisfy the regular customer who will become a loyal one through this satisfaction.

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The effort of the bank to approach the general customer will make them that a high class foreign bank is concerned with the local people and trying to convert them according to the local people need. The effort will build up another individual brand image among the general customers world. In the second step, SCB has been recommended to increase its visibility by increasing the number of ATM booths. The guideline of the recommendation has also suggested to deploy a customer service in the ATM booth with the intranet network so that, he/she can provide banking service and support to the customers. The customers of SCB have been found with great dissatisfaction due to lack of ATM booths and branch banks. Customers prefer easy access to the cash instead of having a high brand value. This is a big fault of SCB for which they fail to grab customers where local banks are having a large size of customers with great level of satisfaction. Increasing the level of SCBs visibility has no other alternatives except by increasing the number of ATM booths. Although this requires a huge investment of financial resource but this is a necessity to ensure the customer satisfaction. The guideline of the recommendation has come up with a new idea to deploy a customer service in the ATM booth station. Implementation of this idea will help to save the money by establishing a complete branch office. Besides, the customers will get a number of customer service officers according to the wide network of ATM booths. As a result, neither the branch office nor the booths will have the long queue of customers. Moreover, customers will get a prompt service if they face any problem in cash withdrawal. Easy access to the cash is such a great facility that obliges the customer to be satisfied with the bank honestly. Under the specific guidelines of the recommendation, CSR activities have been emphasized to grab customers satisfaction. SCB has been recommended to increase its CSR activities in mass level to reach the grass root people. SCB is running its business in Bangladesh with the identity of multinational bank which has branches and network in many different countries. On the other side, Bangladesh is a developing country who is fighting with many social development problems. On this ground, the people of this country hold an obvious expectation from foreign organizations that they will be at the help of the distressed people with all their resources.

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At present SCB is doing their CSR activity at a very minimal level by helping a sudden big crisis or disaster. This is of course a considerable help, but it doesnt retain the presence of the bank for a long period. Moreover, there are number of donor funded NGOs who stood up beside the distressed people at the disastrous time. So, SCB can focus on the other way around by funding small community development projects. This will help the bank to be known by each and every simple and general community person. In fact they will express their gratitude by promoting the good of the banks through word of mouth. This will influence other people to get attached with SCB. The bank will allow an account to the employees related to the CSR projects. At one side this will help the employees get an account in a big brand bank, and at another point it will help the bank to get some more motivated customers who will deal with the bank for more years. The research has suggested to initiative for collecting feedback from all general customers including both SCB customers and non SCB customers. In order to do this the research has been guided to conduct general questionnaire survey at door to door level. This will help the bank to get the idea about what more service the existing customers want from the bank, where they are having dissatisfaction. Thus the bank will be able to alter those systems and ensure customer satisfaction. Besides, it will help the bank to understand what a non SCB customer expects to switch to SCB. Thus the bank will be able to increase the number of satisfied customers. By this way, SCB will not need to realize the fact on the basis of this kind of research. They will be able to find out the fact by their own survey work. At the end, the research has suggested to introduce easy guidance for the customer. In order to do this, the implementation strategy has planned to introduce Bangla and demonstrative videos in ATM booths. By incorporating Bangla into the service delivery system, SCB will be able to give easy access to all kinds of customers. This will help a general customer to understand the steps of the cash withdrawal. Besides, a demonstrative video in ATM booth will help even an illiterate person to withdraw cash from an ATM machine. If SCB implements the strategy where a customer service has been suggested to be deployed in the booth, this demonstrative video and Bangla translated service will help to minimize the queue to the officer.

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The guideline of the recommendation has been designed in such a way, so that it can help SCB to improve their customer satisfaction level but not exceeding the resource limitation of the bank. Moreover, these recommendations will help SCB to enhance their brand value properly with enhanced customer satisfaction. As a result SCB will be able to retain both brand value as well as the customer satisfaction.

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13.0 Conclusion
Now a day business does not mean just selling and purchasing the products or services. This is very important to conduct the business in an organized and effective manner. Now questions arise that how we can make this business process effectively. Advertising can be a bigger solution in this sector. More than that maintaining a satisfactory level of customer satisfaction might make the whole selling process a lot more progressive. As we all know in the business world things move at the will of Impression. Standard Chartered is the worlds one of the best leading Banks. And it is the duty of this Bangladesh corporate office to hold that same image and continue with the Business. Standard Chartered operates in every Asia Pacific with the exception of North Korea & some of the Groups profits come from the Asia Pacific Region. Consumer banking is a major side of its total banking. In Standard Chartered Bank, consumer banking which has some million customers, has grown significantly in recent years and contributes some portion of the total profits. It goes without saying that Standard Chartered Bank has turned over a new leaf of general people through the invention of new products, which are easily introduced and accepted, by the general people on account of its reliability and flexibility. As a matter of fact some products are liked better to surplus units and some are uniquely for deficit units. Deficit units affirmation is meeting up with the products of surplus units and surplus units expected benefit comes from with the precise utilization of deficit units product. Another thing is that the terms Product and Services are involved inextricable. Products are invented for the valued customers and products are introduced to the customers more significantly and deeply only when they come in branch. So it is urgently indispensable to keep an eye on proper customer care to have strong product knowledge in the customers mind. The positive linkage that has been found between independent and dependent variables has proved that there are some specific factors that makes customer satisfied or dissatisfied. As customers are driving force of the banking industry, banks do a lot of marketing regarding the products and services they offer. And also they cater their customers with regularly updated offerings.

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With a banking heritage spanning more than 150 years, Standard Chartered has an extensive global reach and a strong position in emerging markets, supplemented by strategic alliances and acquisitions. Now a day business does not mean just selling and purchasing the products or services. This is very important to conduct the business in an organized and effective manner. Now questions arise that how we can make this business process effectively. Advertising can be a bigger solution in this sector. More than that maintaining a satisfactory level of customer satisfaction might make the whole selling process a lot more progressive. To enrich and maintain a good reputation is the only solution to make a business more progressive. As this is a global Bank and more appropriate to say these entire Banks products is being sold globally, so this should be very much likely that Bangladesh Corporate office should also maintain the same image and continue with the Business. SCB has been doing business for more than 150 years, having a banking structure based on the localized culture, tradition by blending its brand value and norms. The survey in his research shows that customers are satisfied in most cases. However, in some cases they are dissatisfied. Though the research intends to find the factors of customer satisfaction which it already did, further recommendations have been given so that the customer satisfaction increases rather than decreasing day by day.

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14.0 Reference
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