Application of Servqual Model on Measuring Service Quality: A Bayesian Approach
Dr. K. Ravichandran, Assistant Professor, College of Business Administration in Alkharj, King Saud University, P O Box 165, 11942, Alkharj, Saudi Arabia. Email: firstname.lastname@example.org
Dr. S. Prabhakaran, Assistant Professor, College of Business Administration in Alkharj, King Saud University, P O Box 165, 11942, Alkharj, Saudi Arabia. Email: email@example.com
Mr. S. Arun Kumar, Assistant Professor, Department of Management Studies, Saranathan College of Engineering, Trichy, Tamilnadu, India. email:firstname.lastname@example.org
Abstract Financial liberalization has led to intense competitive pressures and private banks dealing in retail banking are consequently directing their strategies towards increasing service quality level which fosters customer satisfaction and loyalty through improved service quality. This 145
Enterprise Risk Management ISSN 1937-7916 2010, Vol. 1, No. 1: E9
article examines the influence of perceived service quality on customer satisfaction suing an adaptive Bayesian frame work in private sector banks Bayesian structural regression estimates are shown to provide a banking institution with reliable information for use in positioning the private banks in its market place.. The article concludes that increase in service quality of the banks can develop customer satisfaction which ultimately retains valued customers.
Keywords: Perceived Service Quality, SERVQUAL, customer satisfaction, BSR, Structural Regression
Private Banks dealing in retail banking Industry is consequently put into lot of pressures due towards increase in global competition. Various strategies are formulated to retain the customer and the key of it is to increase the service quality level. Typically, customers perceive very little difference in the banking products...