Servloyal Amongst Bank Customers of Indore: An Exploratory Research
International Conference on Business, Economics, Management and Behavioral Sciences, Dubai
5 Pages Posted: 30 Mar 2012
Date Written: January 7, 2012
The Indian banking industry is going through turbulent times. With the lowering of entry barriers and blurring product lines of banks and non-banks since the financial sector reforms, banks are functioning increasingly under competitive pressures. Hence, it is imperative that banks maintain a loyal customer base. In order to achieve this and improve their market positions, many retail banks are directing their strategies towards increasing customer satisfaction and loyalty through improved service quality. Moreover, with the advent of international banking and innovations in the marketplace, customers are having greater and greater difficulty in selecting one institution from another. Hence, to gain and sustain competitive advantages in the fast changing retail banking industry in India, it is crucial for banks to understand in-depth what customers perceive, to be the key dimensions of service quality and to evaluate banks on these dimensions. This is because if service quality dimensions can be identified, service managers should be able to improve the delivery of customer perceived quality during the service process and have greater control over the overall outcome. In the process a pre-tested and verified questionnaire has been administered on 220 respondents and both econometric and regression analysis has been applied for drawing model for analyzing dimensionality for future understanding future course.
Keywords: Loyalty, Service Quality, Indore, Banking
JEL Classification: C22, C81, M31
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