Jyske Bank
1. What is Jyske Bank’s new positioning or competitive differentiation strategy? As stated in the case, Jyske Bank’s new positioning strategy is strongly believed to be found in its values and differences by the managers. The bank also has a differentiation strategy. This is evident in the following statement, “Managers determined that if the bank were to be true to its values, it would have to deliver service differently from both how it had in the past, and how other banks delivered service.” (P.573, Zeithaml, Bitner, Gremler). Their differentiation strategy is referred to in the text as ‘operationalized’ meaning they were looking to turn variables into measurable factors. Jyske Bank also had their core values which guides all aspects of the organization’s life. Jyske Bank worked to create unique settings that give customers a different banking experience. They allowed the customer to build a certain relationship with the service providers so they felt that the service providers dedicated their time to them and care about them and their family. 2. What changes did the bank make to get to its new position? What effect did these changes have? In order to achieve success in a business changes are inevitable at some point. The staff at Jyske Bank proved they were not afraid to make these changes. They made both tangible and intangible changes where necessary not only to influence the outcome of the business but also to provide guaranteed customer satisfaction. The tangible changes they made were changes to the account teams, branch design, and details while the intangible changes were training, empowering the branches as well as throughout the bank, management style, and human resources. The effect of these strategic changes as lead to an increase in customer satisfaction based on data collected by independent third parties and has the highest customer satisfaction level among its major competitors. The tangible benefits have lead to customers being