Customer Experience - Essay Example

a new banking outlet, particularly in an overseas location, it is imperative for the banking institution adequately prepares for the groundbreaking exercise and positioning that will facilitate sustainability. Some of the intricate issues that determine the success of a newly opened branch in the banking sector are generally related to the first impression created regarding customer experience. Customer experience can be memorable for either good or bad reasons. How suitable and pleasant an experience gets to the newcomers is usually dependent on the trend set from the beginning.

It follows that the remainder of the experience in a new market is defined in the initial stages of market positioning and establishment. Aware of these facts, Cooperative Bank and Smile UK Limited will require the detail of the following study regarding the new market in Tanzania for the creation of an appropriate customer. According to Avaya (2008, P1), both local and international banking institutions find a huge challenge to balance their strategy mix and technological capacity to facilitate sustainable customer relationships.

According to the revelations of the group, today’s customer experience has changed a lot due to a number of factors. One of the most important factors that have necessitated a different approach to handling of customer experience is the easy availability of information that has impacted on customer expectations. In view of the new market in Tanzania, this study reveals some of the most important information that the management of Cooperative Bank and Smile will need to handle the changed customer experience issues in Tanzania.

Comparing the banking sector in the UK to that in Tanzania, there are fundamental differences in the economic settings of the two countries. While the UK is an industrialized economy, Tanzania is a developing country, where profound differences in operations will be experienced. Performance in the developed economy presents quite