StudentShare solutions
Triangle menu
  • Home
  • Subjects
  • Marketing
  • Impact of service quality on customer satisfaction and customer loyalty an application on the banking sector

Impact of service quality on customer satisfaction and customer loyalty an application on the banking sector - Dissertation Example

Not dowloaded yet

Extract of sample
Impact of service quality on customer satisfaction and customer loyalty an application on the banking sector

With the aim to evaluate the impact of service quality and customer satisfaction on customer loyalty, three objectives were set in Chapter I. Based on a qualitative approach, only secondary data has been used for this study. With customer loyalty as the dependent variable, three independent variables – perceived value, service quality and customer experience have been considered in this study. The study finds that certain dimensions of service quality directly impact customer loyalty - reliability, empathy, responsiveness and assurance. Staff training is thus of importance in delivering quality training to evoke such feelings in customers. In the service economy the relationship between service quality and customer experience has gained immense importance. Customers base their future decisions on the ‘moment of truth’ and hence staging and designing an experience has become an important tool to gain competitive advantage in the banking sector. Banks need to understand individual customer needs and personalize service. Perceived value enhances customer satisfaction and this leads to enhanced customer loyalty. Customers evaluate the benefits they receive against the costs they pay for such services. Thus Perceived value in the banking sector independently impacts customer satisfaction leading to customer loyalty. ...
1.4 Conceptual framework 4 1.5 Structure of the Study 6 1.6 Scope of the Study 6 Chapter II Literature Review 2.1 Chapter Overview 7 2.2 Definitions 2.2.1 Service Quality 7 2.2.2 Customer Satisfaction and Customer Experience 8 2.2.3 Customer-perceived Value 9 2.2.4 Customer Loyalty 10 2.3 Dimensions and perceptions of service quality 2.3.1 Dimensions of Service Quality 10 2.3.2 The Gap Model 11 2.3.3 Perceptions of Service Quality 12 2.3.4 Summary 15 2.4 Service Quality and Customer Loyalty 16 2.5 Service Quality and Customer Experience 19 2.6 Perceived Value on Customer Satisfaction and Customer Loyalty 22 Chapter III Methodology 3.1 Research Philosophy 23 3.2 Research Design 23 3.3 Research Methodology 23 3.4 Choice of Method 24 3.5 Data Collection 25 3.6 Sources of data 25 3.7 Justification for Literature Review 25 3.8 Data Analysis 26 3.9 Ethical Concerns 26 Chapter IV Findings and Discussion 4.1 The Banking Industry 27 4.2 Service Quality and Customer Loyalty 27 4.3 Service Quality and Customer Experience 29 4.4 Perceived Value on Customer Satisfaction and Customer Loyalty 31 4.5 Discussion 33 Chapter V Conclusion and Recommendation 5.1 Conclusion 36 5.2 Recommendations to enhance customer loyalty 37 5.3 Limitations of the Study 37 5.4 Recommendations for further research 37 5.5 Personal Reflections 39 References 40 Figures Figure I Framework for the Study 5 Figure II Customer Experience and Service Quality 30 Chapter I Introduction 1.1 Background In an intensely competitive business environment, sustainable competitive advantage has become imperative. The service industry has been forced to create new ways of finding competitive advantage (Chen & Hu, 2012). Retaining customers is considered to be more important than creating new customers. Retaining existing ...Show more

Summary

Customer Experience in the Service Economy – a study in the Banking Sector ASBTRACT As the business environment has become competitive, competitive advantage has become imperative. Banks have come under heavy pressure to perform as service economy has taken shape where companies compete in service delivery…
Author : rempeltrenton
Impact of service quality on customer satisfaction and customer loyalty an application on the banking sector essay example
Read Text Preview
Save Your Time for More Important Things
Let us write or edit the dissertation on your topic
"Impact of service quality on customer satisfaction and customer loyalty an application on the banking sector"
with a personal 20% discount.
Grab the best paper

Related Essays

An Evaluation of the Service Quality of Islamic Banks in Bahrain: An Empirical Study Abstract
Responsiveness, empathy and tangibles all garnered agreement, while the assurance dimension received slight agreement overall. Moreover, on the perceptions of IBCs on the same dimensions, agreement was likewise garnered on responsiveness, assurance, and tangibles.
68 pages (17000 words) Dissertation
A Comparative Analysis of Internet Banking in the United Kingdom and Thailand
A Comparative Analysis of Internet Banking in the United Kingdom and Thailand Faculty of Business, Environment & Society (BES) Master of Business Administration (MBA) Internet banking continues to present rapidly expanding customer numbers around the world because of the convenience offered to customers and a lower cost of service to banks.
61 pages (15250 words) Dissertation
The Influence of Loyalty Programs on Customer Loyalty in Banking Sector in Saudi Arabia
The research objectives are as follow:  To analyse the role of loyalty programs in customer loyalty in HSBC, Barclays and Royal Bank of Scotland  To investigate the impact of customer loyalty on customer retention  To assess the loyalty patterns of customers  To understand the importance of loyalty programs in attracting, retaining and empowering customers
69 pages (17250 words) Dissertation
Importance of quality of services and customer satisfaction in the telecommunication sector in developed and emerging economies
The project seeks to bring forth the importance of quality of service in businesses. Organizations are increasingly confronted with the challenges of delivering the best possible services to customers and catering to the changing needs. In the era of cut throat competition, quality service provided by organizations help them to have an extra edge over their competitors in the industry.
45 pages (11250 words) Dissertation
Service recovery in consumer banking: implication on customer loyalty - a case study on local bank and Chinese bank
40 pages (10000 words) Dissertation
How does online banking affect the banking industry
bal banking industry, traditional banks faced the problem of handling a large volume of customers and simultaneously to reduce per transaction cost in order to be profitable. Also, with availability of large volume of financial instruments, banks had to introduce various customer-centric products in the market, which increased the number of transactions, and old-model branch banking simply would not be cost effective.
35 pages (8750 words) Dissertation
Employees contribution in customer satisfaction, customer retention and customer loyalty in SME retail organization like SUPERVA
The spillover effects of the global economic recovery, declining exports and volatile capital flows call for adjusting economic policies (Nasution, 2012). Political uncertainties in advanced economies are responsible for downside risks that continue to loom large.
20 pages (5000 words) Dissertation
Measurement of Service Quality in UK Retail Banking Sector and its impact on customer satisfaction and switching behaviour of cu
Following this aim, the researcher in this study has adopted a quantitative research approach so as to gather information relating to the identified variables, such as service quality, customer satisfaction and switching behavior. The analysis of results obtained through survey indicated that there is a positive impact of service quality on the customers’ satisfaction level, and in case of UK’s retail banking sector, the customers have placed particular emphasis on reliability, responsiveness and tangibility dimension of service quality.
17 pages (4250 words) Dissertation
Service Quality for Retail Banking in the UK - Barclays, PLC
This study is an assessment of how much this change has been implemented or is successful within the branches. The corporate strategy of Barclays has also been analyzed and showed how the bank strategy could or should change from an emphasis on sales to an emphasis on customer service.
48 pages (12000 words) Dissertation
Get a custom paper written
by a pro under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email
YOUR PRIZE:
Apply my DISCOUNT
Comments (0)
Rate this paper:
Thank you! Your comment has been sent and will be posted after moderation