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MGMT415 Strategic Management

tag 0 Download 0 Pages / 0 Words tag 21-06-2022

Answer:

Research questions

The research questions looked in the context of the effectiveness of targeting strategies as used by Dubai Islamic Bank while examining the current targeting, segmentation, and positioning theory used. These factors were important in helping to identify and examine the current process used by Dubai Islamic Bank in targeting, segmenting, and positioning itself in the banking sector. The Dubai Islamic Bank has been inexistence for quite some time, which as a result has led it to become a major key player in the banking sector. However, the Dubai Islamic Bank needs to measure its performance so as to make the necessary changes that will enable it to better reach potential customers to whom they can sell their products and services (Khoirunissa 2009 p. 157). As a result, the research questions were designed essentially to gather the right kind of information, which was important as well as dependent on the type of questions that were asked.

Research Design

This research describes Dubai Islamic Bank’s effectiveness to reach potential customers through an analysis of their competitive advantage to generate an effective target strategy to reach potential customers. As such, probability sampling was used whereby the probability theory was used in working out the probability that a particular sample could have occurred by chance. The subjects used in the research were individuals used as sources of information. The study used a stratified random sampling approach in identifying sub-groups within a particular population resulting to more meaningful results being obtained (Khoirunissa 2009 p. 161).  

Data Collection Techniques.

The techniques used in the collection of data involve having conversations or conducting interviews, and using questions and answers structured and unstructured techniques with informants. Unstructured interviews involves using questions that can be altered as needed, conducting systematic recordings and observations of occurrences under study. Documentation on the whole process of doing research through the use of massive amounts of literature relevant to the social occurrence of being observed. The data’s validity was triangulated using data from other data to compare the data by comparing the observations with the results, comparing a person’s state with different views and comparing the interview results with the related documents. Questions about the validity of test were carried out on employees, customers, and the competitors of Dubai Islamic Bank (Hassan Al-Tamimi and Mohammed Al-Mazrooei 2007 p.396).

Data Analysis Techniques.

Data analysis can be described as the systematic process of collecting and searching the data that has been obtained from field notes, interviews, and documentation through the organization of data into different categories. The data is then outlined in forms of units, synthesized, and organized in a particular pattern from where the important data are selected for the purpose of further analysis that will be vital in making the conclusions arrived upon easier to understand. In this study, the tool used in the analysis of data is phenomenology. Phenomenological research can be described as a traditional qualitative research that is based on both psychology and philosophy while concentrating on the human experience (Hassan Al-Tamimi and Mohammed Al-Mazrooei 2007 p. 398).

Interview Questions

  1. How would you describe the services provided by Dubai Islamic Bank?
  • As an employee?
  • As a customer?
  1. As a customer, what would you say to be the major difference between other banks and Dubai Islamic Bank? (Answer if applicable)
  2. As an employee, what would you say to be the major difference between other banks and Dubai Islamic Bank? (Answer if applicable)
  3. As an employee/customer what should Dubai Islamic Bank do to improve their services so as to reach out to a larger group of customers? (Answer according to your employee/employer position)
  4. As an employee/customer what other recommendation would you provide in ensuring Dubai Islamic Bank’s growth within the banking sector?

Questionnaire

  1. What is your occupation? (Please specify)
  2. How many banks do you bank with? (Tick the figure you find appropriate)
  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  1. I am satisfied with my main bank (Dubai Islamic Bank) and do not intend to change my bank (Tick depending with the choice you agree with)
  • Disagree
  • No
  • Agree
  • Strongly Agree
  1. Which of our banking products and services do you prefer using? (Tick the choice you agree with)
  • Online Banking
  • Mobile Banking
  • Electronic Banking
  • Over the Counter Banking
  • Other (Please specify)
  1. Do you have plans of shifting your customer ship to another bank, because of you think our services are not to your expectation?
  • Yes
  • No
  1. Is there a package or service you enjoy with us given your occupation? (Please specify)
  2. Help us identify what is most important to you by ticking on what you think about the following factors, which will help us serve you better.

 

High

Medium

Low

Not at all

Price

 

 

 

 

Quality

 

 

 

 

Brand Name

 

 

 

 

Variety of services

 

 

 

 

Salespeople

 

 

 

 

Customer Service

 

 

 

 

Special Offers

 

 

 

 

Promotional Campaign

 

 

 

 

Packaging

 

 

 

 

Convenience of Use

 

 

 

 

Convenience of Purchase

 

 

 

 

Location

 

 

 

 

Guarantees

 

 

 

 

Store/Office Decor

 

 

 

 

Payment Terms

 

 

 

 

Other

 

 

 

 

Observation

Natural observation was used whereby the researcher joined the study group to get a deeper insight into how customers liked or disliked the services as provided by Dubai Islamic bank.

References

Khoirunissa, D. (2009). Consumers’ Preference toward Islamic Banking (Case Study in Bank Muamalat Indonesia and Bank BNI Syariah). Iqtisad, 4(2), pp.145-163.

Hassan Al-Tamimi, H.A. and Mohammed Al-Mazrooei, F. (2007). Banks' risk management: a comparison study of UAE national and foreign banks. The Journal of Risk Finance, 8(4), pp.394-409.

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To export a reference to this article please select a referencing stye below:

My Assignment Help (2022) Strategic Management [Online]. Available from: https://myassignmenthelp.com/free-samples/mgmt415-strategic-management/effectiveness-of-targeting-strategies.html
[Accessed 06 October 2022].

My Assignment Help. 'Strategic Management' (My Assignment Help, 2022) <https://myassignmenthelp.com/free-samples/mgmt415-strategic-management/effectiveness-of-targeting-strategies.html> accessed 06 October 2022.

My Assignment Help. Strategic Management [Internet]. My Assignment Help. 2022 [cited 06 October 2022]. Available from: https://myassignmenthelp.com/free-samples/mgmt415-strategic-management/effectiveness-of-targeting-strategies.html.


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