Analysis of Service quality parameters among co-operative banks - a study with respect to Kerala
Measuring customer satisfaction is critical in the process of serving the customer. The importance of improving service quality in the banking industry is highly considered for achieving objectives of the industry in whole. Service quality considerations are comparatively less among co-operative banks in the state due to various reasons. An in depth analysis of the service quality perceptions of their customers is essential to achieve sustainable growth for the sector. The perceived quality is normally assessed based on service quality dimensions such as tangibles, reliability, responsiveness, assurance and empathy. The SEVPERF instrument is considered as an ideal instrument to measure service quality. This study is an attempt to measure service quality among co-operative banks in Kerala using SERVPERF instrument. 1. Introduction
The banking industry has undergone rapid changes, followed by a series of fundamental developments due to liberalization and deregulation trends initiated in the country in early 1990”s. There has been a change in the very concept of traditional banking activities and concept of quality in service has gathered attention of all customers. Increasing competition among a broad range of domestic and foreign institutions in product marketing area has become a prevalent practice and thus attempt to be different from other banking institutions has become the priority consideration of the sector. It is predominantly seen that, in line with the increase in overall economic activities, financial institutions, too, have modified themselves accordingly in all the spheres including customer services. To meet the demands of today's marketing environment, organizations are looking to service initiatives as a means to create or sustain competitive advantage. Measuring customer satisfaction is critical in the process of serving the customer. The importance of improving service quality in the banking industry is highly considered for achieving objectives of the industry in whole. The concept of service quality is complex due difficulty in measuring unlike a product quality, which can be measured with certain yardsticks. It can be presumed that service quality lies within the minds of the customer based on his perceptions on quality parameters. In the present scenario of fierce competition, service firms strive to stay in the forefront of today’s marketplace by offering quality service. Research has shown that service quality is an essential strategy for winning and retaining customers. Indeed, the quality of service is more important than price in differentiating a service firm from its competitors and in fostering customer loyalty. It is very complex to analyze the impact of Service quality on customer satisfaction. However it is established that generally quality service creates satisfied customer and may lead profitability to the firm as such. A study on Customer behavior gives valid insights about the customer which in turn helps the firm to develop quality yardsticks to cater the needs of the customer. Consumer behavior is very complex phenomenon, which is considered primarily in marketing decisions. It has been rightly said, "Understand, you do not understand, you will not understand, you cannot understand all your customers but still you have to do your best to understand them." In consumer behavior this is very difficult to make a uniform theory that may suggest that a particular individual or group will behave in a particular manner. Consumer behavior is dynamic and to be studied regularly. Increasing awareness, living standards and urbanization has led to increase in the changing preferences and the same has forced the marketers to change their product features, packaging styles, distribution channels and so on. There is a famous saying the "Success has a...
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