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Benchmarking Money Transfer Services

Money transfer overseas is that process in which money can be transferred from one location to another. Various companies are offering this type of services to a large number of customers. Money transfer process is fast, reliable, as well as convenient to manage. By these methods, money can be sent or received in any part of the world without any harassment. Western Union Money Transfer was incorporated in the year 1 !1 and is a leading financial services provider speciali"ing in money transfer business in the United #tates. Western Union Money Transfer offers a wide variety of services to its customers, which include money orders, consumer$to$consumer money transfer and many other types of commercial services. %n &''(, the number of operating units of the Western Union Money Transfer was &)'',''' with branches of this renowned financial service in more than &'' countries worldwide. When it comes to sending money from place to place, Western Union is the most well$*nown money$transfer company around. While Western Union is the forerunner in this service industry there are alternatives. Western Union+s main competition is from Money,ram. Money,ram allows customers to send and receive money through )!''' centers throughout 1)! countries across the world. Money,ram has been providing trusted payment and financial services since 1-.'. Money,ram diversity of branches gives you choice and convenience, with many offering e/tended hours so you can send and receive money at a time that0s convenient for you. Money,ram claims to be cheaper than the leading money transfer provider, although costs may vary by country and the amount of the international money transfer. 1urthermore, Western Union started a strategy to decrease their prices in &''-, and they could be cheaper than Money,ram. This issue will be presented and analy"ed through this research. 1.& 2roblem 2resentation %n this case study, %0m wor*ing with 3hli Ban* 45uality assurance department6,

who are loo*ing forward to improve the performance of Money,ram service in 7ordanian mar*et. They need to measure the level of people awareness of their money transfer service as a main competitor of the leading Money transfer service Western Union, ta*ing in consideration that Western Union has a monopolistic position in 7ordan. They need also to *now how satisfied the current customers with their service in order to ma*e any improvements and to be able to close the service gaps. They need also to plan their mar*eting strategy accordingly, so they need to *now where they should align their plans, how they could increase their mar*et share by increasing people awareness in the first place. They need a real comparison between two services to ta*e a full image about the current situation, and how could Western Union succeed with continuous efforts for improving themselves, and rewarding their customers to *eep their loyalty. They need to collect 7ordanian feedbac* and measure their responses, measure their awareness, and loyalty level. #o, which attributes should be measured8 9ow much do a 5uic* response, the spread and costs affect customers0 satisfaction8 9ow should they gather the customer e/pectations8 9ow should the company fulfill these e/pectations8 9ow could they close the service gap8 9ow could they achieve and sustain a competitive advantage8 3nd how could they shine in money transfer industry in 7ordanian mar*et8: 1.; Why benchmar*ing Benchmar*ing is the master *ey to becoming the best< and it is one of the most effective means to identify improvements which can ma*e a significant difference to our service. This improvement could be defined as increasing customer satisfaction in the most effective manner. %n this research, we are trying to provide 3hli Ban* with solid data about the awareness and performance of Money,ram service comparing with the main competitor Western Union. 1.. 2urpose 1. To highlight money transfer services in 7ordan. &. To benchmar* money transfer services = Money,ram and Western Union = in the following dimensions> $ #pread

$ ?ost $ 3wareness $ #@AVBU3C five dimensions> Aeliability Aesponsiveness 3ssurance< @mpathy, and Tangibility ;. To discover the gaps between Money,ram and Western Union, and come up with recommendation that may close the gaps and help 3hli Ban* to improve the performance of Money,ram. 1.! #trategy The strategy in this proDect as follows> 1. Eistributing a survey which built on #@AVBU3C model, the results of this survey are analy"ed and measured to give us a feedbac* about the gap between Money,ram and the money transfer leader Western Union. &. Visiting the suppliers of money transfer services 4ban*s, and money e/change agents6 ;. @lectronic awareness survey to measure the awareness level of Money,ram service as a competitor of Western Union. .. ?alculating the net promoter score F2#, to measure the responses on the recommend 5uestion, and measure the loyalty of customers. !. ?ollecting information about the cost and spread of both services. 1.( Cimitations 1. Cimited time to complete the study. #o we can0t conduct interviews with money transfer users to get more information about their needs and attitudes. &. ?onfidentiality of data regarding the visited agents, especially when they *now the visit is for research purposes. ;. ?onfidentiality of 3hli ban* documents> all data are gathered outside the ban*, using surveys and mystery shopping. .. 7ordanian culture> 7ordanian can0t understand the importance and added values of research, so

they *eep their information confidential, they are preservatives from participating in surveys, and they are not aware of their re5uirements and needs when they are answering the service 5uality 5uestions. These issues complicate data collection process. &.' Methodology &.1 2rocess 3nalysis = 1lowchart The following flowchart represents the process of sending and receiving money through money transfer agents. &.& #@AVBU3C #urvey #@AVBU3C is an instrument for measuring how customers perceive the 5uality of a service. This method is based on the five 5uality dimensions> Tangibles = the appearance of the physical facilities and materials related to the service Aeliability = the ability to perform the service accurately and dependably Aesponsiveness = the willingness to help customers and provide prompt service 3ssurance = the competence of the system and its security, credibility and courtesy @mpathy = the ease of access, approachability and effort ta*en to understand customers0 re5uirements The data obtained from this tool can be used to compute service$ 5uality gaps. By e/amining these various gap scores a company can not only asses its overall 5uality of service as perceived by customers but also identify the *ey dimensions, and facets within those dimensions, on which it should focus its 5uality improvement efforts. Gur survey in this proDect is based on #@AVBU3C instrument, with &' 5uestions to cover the service 5uality five dimensions, . 5uestions each 4#ee 3ppendi/ 16. We had distributed the survey in 3rabic language, and we tried to cover different age groups, different education levels, and different occupations. &.&.1 #urvey 3nalysis #ample si"e> (. participants 4Aandom sampling6 . responses were included in our analysis. 4)!H6 1( responses were e/cluded from our analysis 4&!H6. These responses were from 3hli ban* employees, which could bias our analysis to Money,ram.

1H using money e/change subagentsWestern Union users> ()H of the sample 1-H using ban*s 1 H using money e/change subagentsMoney,ram users> &;H of the sample &H using ban*s supplied by ban*sGther services users 4#peed?ash, Wire transfer I6> 1'H of the sample #ample demographics> Eemographic variables #egments and percentages ,ender !&H Male . H 1emale 3ge group &H Cess than &1 . H &1 to ;' &!H ;1 to .' 1)H 3bove .1 years @ducational level .!H Bachelor (H Master and above 1;H ?ollege and less ;(H Unspecified Gccupation Teachers, Cawyers, 2harmacists, Managers, studentsI Table 1> #@AVBU3C survey sample demographics &.&.& #@AVBU3C methodology 1. The answers of survey &' 5uestions were entered in an @/cel sheet, where the answers of Western Union users separated from the answers of Money,ram users. &. 1ind the average score for every statement of &' statements. ;. ?alculate the ,ap #core for each of the statements where the ,ap #core J 2erception = @/pectation. 4We have considered the e/pected score to be ..&! for all 5uestions6 .. Gbtain an average ,ap #core for each dimension of service 5uality by finding the average gap score for the statements that constitute the dimension. !. ?alculate the importance weights for each of the five dimensions of service 5uality constituting the #@AVBU3C scale. The sum of the weights should add up to 1''. We had distributed the dimensions statements 4in 3ppendi/ &6 for some

people where every statement represents a one specific dimension 4#ample> ;' participants6 The average weight score for each dimension after analy"ing the responses is displayed in the table &. (. ?alculate the weighted average gap score for each of the five dimensions of service 5uality multiplying the average gap score for every dimension by the weighted scores. Then sum the calculated scores to obtain the average weighted gap score. 4#ee table &6 ). ?alculate the weighted average score for each of the five dimensions of service 5uality by weighting the average score to the weight for each dimension 4for e/ample> Tangibility weighted score J 4 ;. . K 1 .-; 6L! J 1..!!6. Then sum the calculated scores to obtain the average weighted score. 4#ee table ;6 &.&.; 1indings Gur results for Western Union and Money,ram in the following tables> Eimension Western Union Money,ram 3verage ,ap #core Weight Weighted ,ap #core 3verage ,ap #core Weight Weighted ,ap #core Tangibility $'..1 1 .-; $).(- $'.!! 1 .-; $1'.;; Aeliability $'.;& &&.) $).&- $'..; &&.) $-. . Aesponsiveness $'.&! &&... $!.(1 $'..1 &&... $-.1 3ssurance $'.1. 1 .- $&.(( $'..1 1 .- $).); @mpathy $'.; 1(.-! $(.;( $'.(. 1(.-! $1'.)3verage Weighted gap score $&-.(1 $.). ( Eimension Western Union Money,ram 3verage #core Weight Weighted #core 3verage #core Weight Weighted #core Tangibility ;. . 1 .-; 1..!! ;.)' 1 .-; 1..'; Aeliability ;.-; &&.) 1).-' ;. & &&.) 1)..' Aesponsiveness ..'' &&... 1).-! ;. . &&... 1).&. 3ssurance ..11 1 .- 1!.!; ;. . 1 .- 1..!& @mpathy ;. 1(.-! 1;.1. ;.(1 1(.-! 1&.&!

3verage Weighted score )-.' )!..; Table &> #@AVBU3C Weighted ,aps #cores Table ;> #@AVBU3C Weighted #cores ?hart 1> Eisplaying weighted gap scores ?hart &> Eisplaying weighted scores %mplications 1. 3 negative ,ap score indicates that the actual service 4the 2erceived score6 was less than what was e/pected. 3ccordingly, we can find that the two services are supplied under e/pectation, but with higher gap for Money,ram service. &. The highest gaps are in tangibility and empathy dimensions for Money,ram, they should wor* more on these two dimensions to provide them in more 5uality oriented manner. &.; 3wareness #urvey @lectronic survey had been created using Vista survey 4http>$ survey.comL6. %t was arranged logically, so the 5uestions that will be presented are related to the previous answers. 1or e/ample, if the participant said that he never heard about Money,ram, % will not as* him if he ever used Money,ram service. 4The complete sets of 5uestions in the awareness survey are listed in 3ppendi/ .6. &.;.1 #urvey 3nalysis #ample si"e> ); participants !(H 4.' participants6Western Union users H 4( participants6Money,ram users !HGther services users ;.HFot current users of money transfer services #ample Eemographics> Eemographic variables #egments and percentages ,ender !&H Male . H 1emale 3ge group )H 1 to &!

.)H &( to ;' &)H ;1 to ;! !H ;( to .' 1.H 3bove .1 @mployment #tatus )-H @mployed full time ;H @mployed part time 1&H 9omema*er 1ull time student ;H Aetired ;H ?urrently unemployed &.. Fet 2romoter #core 4F2#6 F2# is a management tool that can be used to gauge the loyalty of a firm+s customer relationships. We can calculate F2# based on the answer of the recommend 5uestion in the survey, the answers are classified as follows> M 2romoters = who answered N@# $ are loyal enthusiasts who will *eep buying and refer others, fueling growth. M 2assives = who answered Fot #ure $ are satisfied but unenthusiastic customers who are vulnerable to competitive offerings. M Eetractors = who answered FG $ are unhappy customers who can damage your brand and impede growth through negative word$of$mouth. F2# captures two *ey behaviors> 1. Buyer economics 4the value of the customer6 &. Aeferral economics 4their potential value through referral6. The first deals with an individual0s own choices and the second with how those choices influence others. The differenceO the netO is the metric of interest. %t ta*es into account the positive impact of 2romoters 4higher repurchase rates and referrals6 and the negative impact of Eetractors 4negative comments, lower repurchase rates6 to yield a summary metric. 9igher percentages of Eetractors also lin* to reduced growth rates. This evidence shows that it is not Dust 2romoters but the absence of Eetractors that create a positive growth engine.

The ultimate 5uestion 4The recommend 5uestion6 We as*ed the following 5uestion in our survey to calculate F2#> B. Would you recommend the service provider for other people8 Aesults from #@AVBU3C survey> Western Union users Money,ram users N@# .H ).H Fot #ure 1;H &(H FG ;H 'H F2# J 2romoters = Eetractors F2# 4Western Union6 J .H = ;H J 1H F2# 4Money,ram6 J ).H $ 'H J ).H Aesults from electronic awareness survey> Western Union users Money,ram users 3bsolutely, all of the time 42romoters6 ;(H 1)H Most of the time 42romoters6 ;-H ()H May or may not 42assives6 1!H 1)H 2robably not 4Eetractors6 !H 'H Would never recommend 4Eetractors6 !H 'H F2# J 2romoters = Eetractors F2# 4Western Union6 J 4;(H P ;-H6 = 4!H P !H6 J (!H F2# 4Money,ram6 J 41)H P ()H6 = 'H J .H %mplications> $ F2# for Western Union is greater than Money,ram, so Western Union users could promote the service more than Money,ram users. $ We have some passives for both services 4higher for Money,ram6< those can be attracted by competition easily. $ Money,ram in the two surveys doesn0t0 have detractors. This is a good indication of potential growth. But in this study, we can relate this result to the few no. of participants from Money,ram users. That0s because, we used random sampling, and we e/pect the percentage of Money,ram users in the sample is reflecting the actual no. of users. $ The two scores are considered 5uite high, we need more research and

interviewing people with open$ended 5uestions to elaborate more about their attitude toward their money transfer service, and this should be conducted by 3hli ban* on ('H of Money,ram users as this research has limited time to be finished. $ F2# is a good methodology to adapt it. %t needs more research, and group discussions to be implemented in the ban*. &.! 3rea of study Gur area of study is ,arden" #treet. We did choose this street as it has a well and large coverage of money transfer agencies. We have found that the spread of the services over the ban*s and money e/change agencies in this area as follows> 1!H Money,ram !H Western Union %nternational spreading of the two services as follows> -)H for Western Union ;H for Money,ram We can find that these international spreading numbers are reflected into 7ordanian mar*et, regardless that the spread in our area of study was 5uite higher than international numbers. &.( Mystery #hopping Euration> ; days Cocation> Ban*s and money e/change agents in ,arden" #treet. Tool> ?hec*list 4see 3ppendi/ ;6 The visited suppliers> Western Union Money,ram Ban*s 9ousing ban* 7ordan Quwait ban* ?ommercial ban* 7ordan ban* 3hli ban* Money e/change agents 2etra M@ 3boud M@ 3l1urat M@ 3l3lami M@

3bu #hai*ha M@ Mesharbesh M@ 3lAaed M@ #ummary> The above listed money transfer suppliers were visited. These suppliers are located in our study area 4,arden" #treet6. We are loo*ing in our visits to chec* if the standards are implemented and to which level they are performed. We have covered the following dimensions in the visits> the sign, promotion and feature *nowledge, application filling, and e/tra benefits provided to customers. 3nalysis> #uppliers average scores> Western Union Money,ram Ban*s ;.!1 ;.1Money e/change agents &.)& &.( 1ield Gbservations> 1. The ban*s supply the service in more 5uality oriented manner. That0s because the ban*s are well prepared for providing financial services, and the money transfer is one of the main services delivered to customers. &. %t was obvious that the ban*s don0t give attention and priority for money transfer service as one of their services, so they don0t have a specific employee for this service, the customer should wait in a 5ueue most of the time, and you could wait a long time to find the responsible part inside the branch to deliver the service to you. ;. The money e/change agent can supply the service without long waiting time, they have specific employee to serve you, and the time for delivering the service is more convenient for customers. But the money e/change agents don0t follow standards in tangibility 4cleanness, modern e5uipments...6, and their employees don0t have the re5uired *nowledge in delivering this service. .. The sign of Western Union is attractive in its color and si"e in most suppliers0 offices. That0s doesn0t apply on Money,ram at all, it could ta*es you long time to perceive an agent while you are passing by the car.

&.) 2rice ?omparison 4Transfer 1ees6 The transfer fees are set from the international companies of both services. #ending R1''' from 7ordan to the following countries> Money,ram Western Union @gypt R1& R1! 2hilippines R1& R1! #rilan*a R1-.- R1! %ndonesia R- R1' @mirates R!' R.) %mplications> $ There are some countries were Money,ram is cheaper than Western Union. $ Western Union revised their prices and minimi"ed them since one month from starting this study. %t was more e/pensive than Money,ram. $ Western Union used the same low transfer fee for all the countries which have high number of labors inside 7ordan. Those labors are the most targeted customers who care about the prices to be low and competitive. ;.' Gutcome 1. Benchmar*ing results Based on the previous analysis, each one of the following criteria will be given a rate out of !, to be able to determine the gap between the two services. Western Union Money,ram #@AVBU3C Eimensions ;& Mar*et #hare !1 3wareness . 1 2rice . . #pread !& The above table shows that the Western Union is better performing in most criteria, and the price is the only one that provided on the same level from both services.

&. 3wareness The following pie chart illustrates the awareness level of Money,ram in 7ordanian mar*et 4based on awareness survey results6 ;. #ervice 5uality The service 5uality in which money transfer service is supplied should be revised and wor* on for both services to be more reliable and competitive, but Money,ram should wor* more on service 5uality as it has higher gap from e/pected performance than Western Union in #@AVBU3C dimensions. .. #pread The spread of Money,ram suppliers over the studied area was in very low percentage comparing with Western Union. But we can find lower percentage in international spreading of Money,ram which could reflect on most areas inside 7ordan 4;H Money,ram, -)H Western Union6 !. ?ustomers 2reference The customers would li*e to use money e/change agencies for transferring money for their prompt service and availability for longer period of time, but the most suppliers of Money,ram are ban*s::: (. Money Transfer 1ees The transfer fees of the two services could be on the same level, some countries are cheaper for Western Union, and some are cheaper for Money,ram. ..' Aecommendations 1. %ncrease the number of money e/change agents who supply the service on the 5uality standards of the contactor 43hli ban*6. That0s because most of money transfer users prefer to use money e/change agencies for this service. &. 3pply F2# score and its improvement methodology. F2# when combined with appropriate diagnostics and follow$up actions< it drives improvements in customer loyalty and enables profitable growth. 3s* the customers the recommend 5uestion, calculate F2# form time to time, and see* to increase the promoters and decrease the detractors. ;. %ncrease 3wareness level. 7ordanian people are not aware of Money,ram service as a main competitor of Western Union, and a reliable service for

money transfer, and half of them they don0t hear about it before. 3ccordingly, 3hli ban* should start awareness campaign and creative mar*eting to increase the awareness level. .. 3pply 5uality standards for money e/change subagents. They should implement 3hli ban* 5uality standards, to deliver the money transfer service as customers0 e/pectations. That could be applied by providing them with training on service 5uality, and continuous monitoring for their commitment to standards. %nternational company should assign a budget for these training as well. !. Aeview prices with the international company. 2rovide the customers with affordable and competitive prices to *eep their loyalties. Moreover, offer them e/tra benefits li*e special discounts and gifts in continuous manner. (. Aeview the sign with the international company. %t should have more attractive colors and design, and which should reflect the brand all of the time, and the color should be positioned in customer mind for Money,ram as we always perceive the yellow color for Western Union. ). 3ctivate online money transfer for 7ordan. The online money transfer is available through Money,ram website for some specific countries. They should negotiate with the international company to ma*e 7ordan one of them, so customers can send money from and to 7ordan electronically with lesser transfer fees. . ?ontinuous 5uality improvements and benchmar*ing. 1ind new area for improvement< evaluate the processes, benchmar* against competitors continuously. Aeferences http>LLfinance.mapsofworld.comLmoneyLtransferLwestern$union.html, S &'' https>LLwww.moneygram.comL, S &''- Money,ram

Ms. Aawan #harabi 3hli Ban* Buality Manager @mail> 3ppendi/ 1 = #@AVBU3C #urvey Talal 3bu ,ha"aleh ?ollege of Business Buestionnaire The following survey is built to benchmar* the money transfer services and to assess the 5uality in providing this service. 3s a user of money transfer service, we would li*e you to participate in this survey. 3ll data will remain confidential in strict accordance with the ethical standards. 2lease answer the following 5uestions as accurately as possible. Than* you for helping me to complete this dissertation research. Which money transfer service are you using8 Moneygram Western Union Gther What is the service provider channel that you are using the money transfer service through 4Fame the ban* or the money e/change agency68 Why did you choose it for this service8 Aead the following items carefully which concerns money transfer service that you are using> ?ircle one number for each statement> #trongly Eisagree 416, Eisagree 4&6, Fot #ure 4;6, 3gree 4.6 and #trongly 3gree 4!6 1. The service provider has modern loo*ing e5uipment. 4C?E, furniture, 2?s, printers, 5ueuing system, ...6 1 & ; . ! &. The service provider has clean office and e5uipments 1 & ; . ! ;. The service provider+s reception des* employees are neat appearing 4well dressed, well shaved, suitable ma*eup, ...6 1 & ; . ! .. Materials associated with the service 4such as postures, brochures6 are visually appealing at the service provider. 1 & ; . ! !. When the service provider promises to do something by a certain time, it does so. 1 & ; . ! (. When you have a problem, the service provider shows a sincere interest in

solving it. 1 & ; . ! ). The service provider performs the service right the first time. 1 & ; . ! . The service provider insists on error free records. 1 & ; . ! -. @mployees in the service provider tell you e/actly when the services will be performed. 1 & ; . ! 1'. @mployees in the service provider give you prompt service. 1 & ; . ! 11. @mployees in the service provider are always willing to help you. 1 & ; . ! 1&. @mployees in the service provider are never too busy to respond to your re5uest. 1 & ; . ! 1;. The behaviour of employees in the service provider instils confidence in you. 1 & ; . ! 1.. Nou feel safe in your transactions with the service provider. 1 & ; . ! 1!. @mployees in the service provider are consistently courteous with you. 1 & ; .! 1(. @mployees in the service provider have the *nowledge to answer your 5uestions. 1 & ; . ! 1). The service provider has operating hours convenient to all its customers. 1 &;.! 1 . The service provider has employees who give you personal attention. 1 & ; .! 1-. The employees of the service provider understand your specific needs. 1 & ;.! &'. The service provider has your best interests at heart. 1 & ; . ! Would you recommend the service provider for other people8 Nes Fo Fot sure Fame4Gptional6> UUUUUUUUUUUUUUUUUUUUUUUUUUUUU ,ender> Male 1emale 3ge> UUUUUUUUUUUUUUU Fationality> UUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUU @ducation> UUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUU Gccupation> UUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUU 3ppendi/ & = #urvey Eimensions Weighting

,erman 7ordanian University Buestionnaire Money Transfer #ervices Benchmar*ing Cisted below are the five sets of features pertaining to money transfer suppliers. We would li*e to *now how much each of these sets of service features is important to you. 2lease set the points for each of the following features according to how important it is to you 42oints> from 1 to !6. 1eatures 2oints 1. The appearance of the suppliers0 physical facilities, e5uipment, personnel and communication materials. &. The suppliers0 ability to perform the promised service dependably and accurately ;. The suppliers0 willingness to help customers and provide prompt service. .. The *nowledge and courtesy of the suppliers0 employees and their ability to convey trust and confidence. !. The caring individual attention the supplier provides its customers. 3ppendi/ ; = Mystery #hopping ?hec*list !"#$ 1 & ; . ! % '& &( '& > ) * '& * . ,-).! + . 2 /01 '3 3 '"4#' . ,-). 4 . 5 3

. 89 67 4 5 ,-). <; 8(+ : 4 =-7 4 > )89 8 4 .@ 0 89 ?4 <CB7 /9AB E'# D" C C"3 ; G F'< E'# D" B6 H # E'# D"6 E'# 8* 8 "D"< E'# D" $5 / .' J; I' D 4 5 50 K . F'< 8) 0 8L 3ppendi/ . $ Money,ram 3wareness #urvey The following survey is built to measure the awareness level of Money,ram service. 2lease answer the following 5uestions as accurately as possible. Than* you for helping me to complete this dissertation research. 1. 9ave you ever heard of Money,ram service before8 4 6 Nes 4 6 Fo 4 6 Fot sure &. 9ow did you first hear about Money,ram service8 4 6 Maga"ine 4 6 Aadio 4 6 %nternet 4 6 TV

4 6 1riend or relative 4 6 Gther %f Gther, please specify> .. 3re you currently using the money transfer service8 4 6 Nes 4 6 Fo !. Which is the money transfer service you are using8 V W Money,ram V W Western Union V W @/press V W Gther %f Gther, please specify> (. Gverall, how would you rate Money,ram service8 4 6 @/cellent 4 6 Very ,ood 4 6 ,ood 4 6 1air 4 6 2oor . What is your favorite thing about Money,ram service8 -. Would you recommend your money transfer service to another person8 4 6 3bsolutely, all of the time 4 6 Most of the time 4 6 May or may not 4 6 2robably not 4 6 Would never recommend 1'. Fame 4Gptional6> 11. Nour age> 4 6 Under 1 4 6 1 to &! 4 6 &( to ;' 4 6 ;1 to ;! 4 6 ;( to .'

4 6 .1 to .! 4 6 .( to !' 4 6 !1 or older 1&. Nour ,ender> 4 6 Male 4 6 1emale 1;. Which category best describes your employment status8 4 6 @mployed full time 4 6 @mployed part time 4 6 9omema*er 4 6 1ull time student 4 6 Aetired 4 6 ?urrently unemployed 4 6 Eisabled 4 6 Eon+t QnowLFot 3pplicable Table of ?ontents 1.' %ntroduction . 1.1 Bac*ground . 1.& 2roblem 2resentation ! 1.; Why benchmar*ing ! 1.. 2urpose ! 1.! #trategy ( 1.( Cimitations ( &.' Methodology ( &.1 2rocess 3nalysis = 1lowchart ( &.& #@AVBU3C #urvey &.&.1 #urvey 3nalysis &.&.& #@AVBU3C methodology &.&.; 1indings 1' &.; 3wareness #urvey 1& &.;.1 #urvey 3nalysis 1& &.. Fet 2romoter #core 4F2#6 1. &.! 3rea of study 1!

&.( Mystery #hopping 1( &.) 2rice ?omparison 4Transfer 1ees6 1 ;.' Gutcome &' ..' Aecommendations && Aeferences &; 3ppendi/ 1 = #@AVBU3C #urvey &. 3ppendi/ & = #urvey Eimensions Weighting &) 3ppendi/ ; = Mystery #hopping ?hec*list & 3ppendi/ . $ Money,ram 3wareness #urvey &-