We always keep an eye on our writers’ work. In other Literature Review On Customer Satisfaction In Banking Sector Pdf words, when you come to us and say, “I need somebody to write my paper”, you can rest assured that we will assign the best possible person to work on your assignment. He/she will have all the necessary qualifications to work in this assignment, as Literature Review On /10() Service Quality Versus Customer Satisfaction in Banking Sector: 5 A Literature Review Athanassopoulos () performed a complete survey on customer satisfaction in retail banking services in Greece. The study proposed an instrument of customer satisfaction that contains service quality and other attributes and explored the performance implications of the customer satisfaction Estimated Reading Time: 11 mins Member blogger.comCX Services Deliver Better Customer Satisfaction & Reduce blogger.comTURE REVIEW. which examined service quality and customer satisfaction in banking study of customer satisfaction in the banking sector in libya by literature review customer satisfaction and banking sector As mobile technology has developed, mobile banking has become accepted as /10()
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A short summary of this paper. This paper analyzes the literature regarding service quality and customer satisfaction in the retail banking industry, literature review on customer satisfaction in banking sector, and explains the relationship between service quality and customer satisfaction and their effect.
The findings suggest that improved service quality should be adopted to give maximum satisfaction to the customer. The paper also contributes knowledge and background for banks to apply these findings to better shape and focus their position in the market and also to provide maximum satisfaction to the customer.
Introduction Managing the quality of services is difficult as compared to the quality of goods due to heterogeneity, perishability, intangibility and dimensions of services. All the players of banking industry are providing more or less same services to customers. Banking practitioners have to pay close attention to superior service provision because service quality does not only impact the customer decision-making process, but also influences customer satisfaction, purchase retention, loyalty and business survival as shown in many studies.
The objective of this paper is to review the literature regarding the relationship between service quality and customer satisfaction and their effect in the retail banking industry.
This will lead to an understanding of the aspects of service quality and customer satisfaction and seeks to close the gap in this field of study. Service Sector in India Industrial revolution was believed to be the only solution to social problems such as poverty and unemployment. However, at present the services sector promises to fulfill the task. Services touch the lives of every person everyday, be it in the field of food services, communication, leisure services or financial services, to name a few.
Our welfare and the welfare of our economy are now based on services. Services lie at the very hub of economic activity in any society. It is no wonder that the services sector will be the Author pls. E-mail: sunaynak gmail. com and confirm © Quality Service IUP. AllVersus RightsCustomer Reserved. The services sector can best be characterized by its diversity. When a customer buys a service in the service market, he buys time, knowledge, skill or resources of someone else who is the provider or supplier of the service.
The services sector plays an important role in the development of the country. Studies have shown that the employment elasticity to Gross Domestic Product GDP Growth in the services sector is higher than that in both the agriculture and manufacturing sectors; therefore, the growth of services sector helps in the generation of employment opportunities in the country.
By providing complementary services to industry and agriculture the services sector acts as a catalyst in the growth of the entire economy Pattnaik and Chhatoi, Inthe agriculture sector had Similarly, the Author pl chk all industrial sector had are not mentioned in While in the case of the services sector, its share in the real GDP the literature review on customer satisfaction in banking sector. increased from Trade, transportation, communication, financial services, software services including the Information Technology Enabled Services ITES and Business Process Outsourcing BPO are the key movers of the services sector.
The banking sector plays a significant role in the economic development of the country. Banks, by providing remittance facility with their vast branch networks, help in the free flow of funds to different parts of the country, wherever there is a need, instead of allowing them to lie dormant in stagnant pools Pattnaik and Chhatoi, India has a large population and land size, a diverse culture, and extreme disparities in income which are marked among its regions.
There are high levels of illiteracy among a large percentage of its population, but at the same time, literature review on customer satisfaction in banking sector, the country has a large reservoir of managerial and technologically advanced talent. The banking system has had to serve the goals of economic policies enunciated in the successive five-year development plans, particularly concerning equitable income distribution, balanced regional economic growth, and the reduction and elimination of private sector monopolies in trade and industry.
In order to serve as an instrument of state policy, the banking industry was subjected to various nationalization schemes in 2 The IUP Journal of Marketing Management, Vol. XII, No. As a result, banking remained internationally isolated few Indian banks had presence abroad in international financial centers because of preoccupation with domestic priorities, especially massive branch expansion and attracting more people to the system.
Moreover, the sector has been assigned the role of providing support to other economic sectors such as agriculture, small-scale industries exports, and banking activities in the developed commercial centers i. A criterion of reciprocity is required for any Indian bank to open an office abroad.
These features have left the Indian banking sector with weaknesses and strengths. A big challenge facing Indian banks is how to attain operational efficiency suitable for modern financial intermediation, under the current ownership structure. On the other hand, it has been relatively easy for the public sector banks to recapitalize, given the increases in Non Performing Assets NPAsas their government-dominated ownership structure has reduced the conflicts of interest that private banks would face.
On the other hand, customers view service quality as an equivalent to the level of service attributes required to satisfy their own needs and requirements. In this respect, marketers try to define service quality in advance while customers make during and after use evaluations. Lewis said that customers perceive service quality in a subjective sometimes irrational and sentimental way and in clearly human terms.
Zeithaml et al. As a result of the characteristics of services, the principles and practices of product quality control cannot be used for assessing service quality. Grönroos andTakeuchi and Quelch ; and Parasuraman et al, literature review on customer satisfaction in banking sector. However, Parasuraman et al. However, Berry et al. As Lewis and Booms put it, service quality is a measure of how literature review on customer satisfaction in banking sector the service level delivered matches customer expectations.
Delivering quality service means conforming to customer expectations on a consistent basis. This means that, in the final Author pls. the analysis, customers are the exclusive judges of service quality, no matter what the marketer undelined ref. is not thinks. There is no other fact or reality about service quality than what customers perceive about a service Lewis, Grönroos andParasuraman et al. In this respect, researchers have generally adopted either the Nordic European model developed by Grönroos andor the American model developed by Parasuraman et al.
Quality Dimensions in the Banking Sector Across the Globe 1. Gronroos suggested three dimensions of service quality—technical quality, functional quality and corporate image. Lehthinen and Lehthinen identified three dimensions of service quality—physical quality, corporate quality and interactive quality. Gronroos refined the previous work into three dimensions of service quality.
Parasuraman et al. Parsuraman et al. Author pls. the undelined ref. is not 6. Gronroos explored six dimensions of service quality. mentioned in the references literature review on customer satisfaction in banking sector. Cronin literature review on customer satisfaction in banking sector Taylor developed SERVPERF to compare with SERVQUAL.
Avkiran developed a four-factor scale consisting of 17 items to measure service quality. Johnston identified 18 dimensions of service quality, literature review on customer satisfaction in banking sector. Oppewal and Vriens explored 28 attributes to measure service quality.
Bahia and Nantel developed six dimensions of service quality containing 31 items. Sureshchander et al. Malhotra et al. Customer Satisfaction Despite an extensive research on customer satisfaction and its antecedents and consequences, no consensual definition of customer satisfaction has been developed yet. Various definitions are either fundamentally or partially inconsistent with one another even when these definitions have overlapping components.
In general, customer satisfaction is viewed as a response based on evaluations and expressed some time during the purchase-consumption process. Churchill and Surprenant explained customer satisfaction as a cognitive response, while Westbrook and Reilly understand that customer satisfaction is comprised of both cognitive and affective dimensions.
Cadotte et al. Customer satisfaction was considered as a result of post-choice response Westbrook and Oliver,as a result of post-purchase Fornell,and as a result of post- consumption Mano and Oliver,and customer satisfaction takes shape during consumption Halstead et al. Vavra explained customer satisfaction as the end state resulting from the consumption experience.
The end state might be a positive perception of the reward sacrifices ratio, or an emotional response to the consumption and use experience, or resulting from the comparison of rewards and sacrifices against anticipated consequences from consuming and use of the product or service. Customer Satisfaction in the Banking Industry Banking is one of the numerous services in which customer satisfaction has had an ever- increasing importance in the corresponding research areas.
This is essentially because the banking sector is becoming more and more competitive. Retail banks are pursuing this strategy, in part, because of the difficulty in differentiating based on the service offering.
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We always keep an eye on our writers’ work. In other Literature Review On Customer Satisfaction In Banking Sector Pdf words, when you come to us and say, “I need somebody to write my paper”, you can rest assured that we will assign the best possible person to work on your assignment. He/she will have all the necessary qualifications to work in this assignment, as Literature Review On /10() Dec 11, · Banking is a customer oriented service industry and customer satisfaction has become the most important aspect of any banking business due to immense competition. Banks are more determined to Author: Munish Kumar Member blogger.comCX Services Deliver Better Customer Satisfaction & Reduce blogger.comTURE REVIEW. which examined service quality and customer satisfaction in banking study of customer satisfaction in the banking sector in libya by literature review customer satisfaction and banking sector As mobile technology has developed, mobile banking has become accepted as /10()
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