Consumer Perception on Public vs Private Bank
Consumer perception on Public Bank versus Private Bank
A survey Report
Prakhar Agarwal (09FN-077)
Ravi Jain (09FN-090)
Sachin Gogia (09FN-094)
Sandeep Agarwal (09FN-099)
Saurabh Kumar (09FN-101)
Sunay Jain (09FN-110)
* CONTENTS
Particulars Page No
Executive Summary
Introduction
Methodology
Data Analysis & Findings
Recommendation
Conclusion
Bibliography
Executive Summary
Regulatory, structural and technological factors are significantly changing the banking environment throughout the world. One factor that is spurring the growth of the service economy in India is the liberalisation that has been ushered in by the government in the banking sector.
The financial sector reform in India was designed to infuse “greater competitive vitality in the system”. In other words, financial liberalisation has led to intense competitive pressures and retail banks are consequently directing their strategies towards increasing customer satisfaction and loyalty through improved service quality. Retail banks are pursuing this strategy, in part, because of the difficulty in differentiating based on the service offering. Typically, customers perceive very little difference in the banking products offered by retail banks as any new offering is quickly matched by competitors.
This research endeavours to fill the gap in the service quality by exploring the dimensions of customer perceived service quality in the context of the Indian retail banking industry. A set of service quality parameters, drawn from customers’ perceptions about service quality as well as the bank marketing and service quality literature using the RATER model have been drawn up. Finally, the research has drawn upon the findings of the service quality dimensions to contend the initiatives that banks’ managers can take to enhance employees’ skills and attitudes and instil a customer-service culture.
This research will thus help
A survey Report
Prakhar Agarwal (09FN-077)
Ravi Jain (09FN-090)
Sachin Gogia (09FN-094)
Sandeep Agarwal (09FN-099)
Saurabh Kumar (09FN-101)
Sunay Jain (09FN-110)
* CONTENTS
Particulars Page No
Executive Summary
Introduction
Methodology
Data Analysis & Findings
Recommendation
Conclusion
Bibliography
Executive Summary
Regulatory, structural and technological factors are significantly changing the banking environment throughout the world. One factor that is spurring the growth of the service economy in India is the liberalisation that has been ushered in by the government in the banking sector.
The financial sector reform in India was designed to infuse “greater competitive vitality in the system”. In other words, financial liberalisation has led to intense competitive pressures and retail banks are consequently directing their strategies towards increasing customer satisfaction and loyalty through improved service quality. Retail banks are pursuing this strategy, in part, because of the difficulty in differentiating based on the service offering. Typically, customers perceive very little difference in the banking products offered by retail banks as any new offering is quickly matched by competitors.
This research endeavours to fill the gap in the service quality by exploring the dimensions of customer perceived service quality in the context of the Indian retail banking industry. A set of service quality parameters, drawn from customers’ perceptions about service quality as well as the bank marketing and service quality literature using the RATER model have been drawn up. Finally, the research has drawn upon the findings of the service quality dimensions to contend the initiatives that banks’ managers can take to enhance employees’ skills and attitudes and instil a customer-service culture.
This research will thus help
Bibliography: * http://www.rbi.org.in * http://www.icicibank.com/ * http://www.12manage.com/methods_zeithaml_servqual.html * http://www.iimcal.ac.in/research/download/ICIS-2008-KC.pdf * http://jefmenguin.wordpress.com/resources/articles/using-the-rater-model-in-customer-service/ * C.Ashokan, Hariharan.G, “Profile and Perception of Retail Consumers – An Empirical study in Palakkad District”, Indian Journal of Marketing, Vol: XXXVIII, Number: 2, February 2008, PP – 44.