Browsing by Author "Khimbi, Justice Yawunthu Mhango"

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    Customers’ product knowledge and knowledge based strategies for commercial banks in Tanzania and Malawi
    (University of Dar es Salaam, 2009) Khimbi, Justice Yawunthu Mhango
    The main purpose of the study was to assess the use of Customers’ Product Knowledge in developing Knowledge based Competitive Strategies for Commercial Banks in Tanzania and Malawi. In the midst of stretched out competition within the commercial banks operating in dynamic and uncertain business environment, a number of customers lost business confidence and trust in some banks. The objectives of study were to determine the levels of Customers Product Knowledge (CPK) considered sufficient in making products or bank choices and to analyse how banks leverage CPK with Banks Core Competencies (BCC) in creating a value adding strategy. A survey was conducted on 250 respondents through a structured self-report questionnaire and on 4 bank officials through in- depth interviews in order to collect quantitative and qualitative data. The findings revealed that customers used more of functional than psychological consequences, more of concrete than abstract attributes and more of terminal values than instrumental values of CPK levels. Having a higher level of knowledge on some products and lower levels in other products was not adequate evidence to state that customers effectively used the CPK levels in the selection of bank products. Using the Kruskal Wallis Test, the results show that there was no difference in how customers rated the use of CPK in selecting and choosing bank products and services. The conclusion is that the use of CPK when leveraged with BCC provides the opportunity to develop knowledge based competitive strategies (KBCS). It is recommended that future studies be undertaken to measure relationships of CPK with specific BCC related to bank performance, also to extend the study to commercial banks in other countries.