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Determining a Bank's Customer Value Proposition based on Customer Value Dimensions

Halstrick, Tizian (2020) Determining a Bank's Customer Value Proposition based on Customer Value Dimensions.

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Abstract:The Customer Value Proposition (CVP) plays a critical role in communicating an organization’s strategy to create and provide value to its customers. Researchers and practitioners increasingly use the term CVP for marketing purposes, yet the concept remains poorly understood and rarely implemented, specifically in the banking industry. In response, this work identifies how banks can define a competitive CVP based on value dimensions bank managers and employees deemed to be most important to their customers in the Online Customer Experience. By first conducting a critical literature review that explains terms such as CVP, OCE and Customer Value Dimensions, a general understanding will be created, followed by an analysis of six expert interviews aimed at identifying important aspects of the service offering to customers and how they can be integrated in the online banking application. As a result from the literature review and the interviews, three value dimensions were identified to be most important to German bank customers. Based on this value dimensions, a bank can strategically formulate a competitive CVP, tailored to what is actually appreciated by its customers.
Item Type:Essay (Bachelor)
Faculty:BMS: Behavioural, Management and Social Sciences
Subject:85 business administration, organizational science
Programme:International Business Administration BSc (50952)
Link to this item:http://purl.utwente.nl/essays/81278
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