Q1. What is JYSKE bank’s new positioning or competitive differentiation strategy?
Ans1.) JYSKE bank’s new positioning strategy basically has been developed to reconstruct themselves as a customer oriented, customer centric bank. Their new differentiation strategy basically consists of four components.
1. Out of the Box service:
They began to think out of the box and this led to them targeting specific segments of customers and thus developing a niche market consisting of what they considered the right set of customers. They assigned a small group of their bankers to every single customer to make sure that every customer received timely, effective service with a combined effort of the bankers. They also went a step further and made sure that all employees had ID Badges with pictures with them smiling and looking friendly.

2. Value Addition:
They believed that being nice, making time, and showing customers that they truly care would enable them to add value to the service being provided. Through their out of the box thinking they were able to provide specialty services to their most valuable customers. They also believed that providing adequate training to their employees would help them to make informed decisions and would give them some level of authority. In addition to this they also offered their bankers attractive incentives which would in turn increase employee satisfaction and commitment.

3. Cutting edge:
They also explored the IT solutions field and developed tools to help their customers identify the areas wherein they experienced difficulties. Once these tools were combined with the knowledge and expertise of their employees they were able to provide spot on solutions to their customers which was cutting edge.

4. Service culture that differentiates:
All the three points discussed above combined proves that their service culture was