Question

Larger financial institutions now offer a wide range of services under one roof, from banking to stock trading. These institutions have moved away from increasing their market share to instead focus on increasing their...
A. share of market.
B. relational share.
C. share of relationships.
D. lifetime customer value.
E. share of customer.

Answer 1

Answer:

The correct answer is E. Share of customer.

Explanation:

Customer participation reflects the way in which customers take part in the process and the degree to which they participate. It is especially important for many service processes, particularly if the contact with the customer is (or should be) high. A good starting point to increase customer participation is to make the process more visible to the customer. Allowing customers to see what normally remains hidden from their view is part of Harvey’s service design, a Canadian chain of fast food restaurants. There you can see the workers in a sanitary and orderly workplace roasting the meat, and one can choose the type of additional ingredients you want. An even bolder step is to allow customers to participate in selected backroom processes, in order to turn them into shown processes.