The question is related to the Marketing management. I need it tomorrow on Thursday 17/1/2014 after 6 hrs at UAE time. The Ans should be of 250 or 300 words only. it should be done by only by Joshua Adams.
It does seem that all banks have a customer relationship focus but since the recent financial crisis they all seems to want to show a certain level of conservatism and a commitment to ethical practices due to public backlash. Royal Bank of Scotland’s (RBS) Annual Report (2013, p. 6) states that their primary value is serving customers by ‘focusing on their needs and delivering excellent service’ but other values include doing the right thing, taking risk seriously and managing it prudently.
Do you think that this may affect the dynamics of competition between bank’s pricing of financial products to meet customers’ needs? For example consumers may perceive competitively priced banking products as too cheap and perhaps showing the bank to be behaving irresponsibly not managing risk.
References:
Royal Bank of Scotland (2013) Annual Report and Accounts 2013: Serve customers well. This is our purpose.Available at: http://investors.rbs.com/results-centre/annual-report-subsidiary-results/2013.aspx(Accessed: 16th January 2015)
