Bank of America Uses a Complex Polling System Coupled with a Customer

question 79

Multiple Choice

Bank of America uses a complex polling system coupled with a customer response measurement system to assess consumers' responses to new products and services.Bank of America is using a(n) __________ program to improve service quality and service offerings.

• A) quality gap analysis
• B) empowerment
• C) zone of tolerance
• D) standards analysis
• E) voice-of-customer

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Definitions:

Maturity Value

The total amount due or payable at the end of a loan or investment period, including the principal and any accrued interest.

Daily Interest

Interest calculation method where interest is calculated daily on the principal amount, either leading to faster growth in savings accounts or quicker payoff in loans.

Simple Interest

A method of calculating interest where the interest charge is computed only on the principal amount and not on the interest that has accumulated.

Savings Account

A bank account where money is deposited for safekeeping, which earns interest over time.