factors affecting customer satisfaction in banking sector of Pakistan and to find the connection between service quality, customer satisfaction and customer loyalty. Research of the study is quantitative and surveys research method has been used in it. Data was collected from different such as: Khairpur and Sukkur. Results of his study show that there is important correlation between service quality and attributes and customer satisfaction. It also exposed that link exist between customer satisfaction
2.1 Loyalty In businessdictionaries.com elucidates loyalty as a likelihood of previous customers to continue to buy from a specific organization. In business industry customer’s loyalty is one the most essential value to maintain because the half part of business’ success depends on the customers. Banking institution needs to improvise its system and services to gain more loyal customers. Loyal customers are defined as customers who portray good attitudes towards that particular organization, suggest
2.2 Customer Loyalty Customer loyalty in banking institutions has been a main concern due to severe competition and customer expectations (Rezaei, Velashani, Afrough, Haghshenas, & Shakeri, 2015). Customer satisfaction has been the main focus of every organization for some times. However, various researchers proposed that only gaining customer satisfaction is not enough. A shift in emphasizes from customers satisfaction to loyalty appears to be a more effective change in strategy for most organizations
provided to customers in HDFC bank and the relative differences attached with the various determinants of service quality using the SERVQUAL model. The findings of the research suggest that customer satisfaction towards service quality in HDFC bank is significantly influenced by Assurance, Tangibility, Empathy, Reliability and Responsiveness. It is found out that empathy has the most significant impact on customer satisfaction and Responsiveness has the least significant impact on customer satisfaction
fiduciary to its customers. The bank is used strictly to refer to the corporate body while the term banker may mean both the institution and the individuals that work within the corporation. The relationship between a banker and a customer depends on the activities, products or services provided by the bank to its customers. Thus the relationship between a banker and its customers is a transactional relationship. Bank’s business depends much on the strong bond with its customers. “Trust” plays an
growth in the number of customers in Mauritius has a major impact in the marketing strategies used by organizations. National and Multinational organizations are straiving to provide customer satisfaction. The buying patterns of consumers' changes occasionally therefore organizations must implement new strategies daily. Marketing mix has a big impact on customer satisfaction nowadays due to an upward trend in this sector. This study describes the impact of marketing mix on customer satisfaction using
SITUATION ANALYSIS Below are Malaysian banking industry’s external environment assessment using Porter’s 5 Forces Analysis. For the purpose of this assessment, 4 top-in-the-league existing domestic banking groups in terms of asset size have been chosen i.e. Maybank Berhad, CIMB Bank Berhad, Public Bank Berhad, and RHB Bank Berhad. All 8 domestic banking groups have operations in all the 3 segments of banking businesses namely Commercial, Islamic, and Investment bank. Upon analyzing and assessing
Jay Kandampully and Dwi Suhartanto (2000)21 conducted a research study on the dealer loyalty in the hotel industry. The objective is to identify factors of image and dealer satisfaction, which are positively related to dealer loyalty in the hotel industry. The research helps extend the understanding the relationship between dealer loyalty, dealer satisfaction, and image. The study identifies that competition has three major implications for the dealer, which provides: increased choice; greater value
Customer satisfaction is a critical issue in the area of marketing and consumer behavior (Ghalandari, Babaeinia, & Jogh, 2012). It has become a key component in measuring business performance and guiding principle in the development in new product or service (Feng & Yanru, 2013). Satisfied customers will enhance company’s reputation by sharing positive experiences with others. Customer satisfaction can be defined as the customer’s fulfilment reply (Andreassen, 2000). Customer satisfaction is a perception
power of Buyers (High) The intense competition which characterises the banking sector in Zimbabwe has given buyers (clients) a high bargaining power. The bank in such an environment has to increase customer loyalty through the provision of differentiated products. Factors which affect / influence the bargaining power of Buyers in this industry include: • Existence of bank’s competitors. • Multiple options/ alternatives to banking services such as ecocash,