A Study of Factors Affecting Customer Satisfaction in Present Highly Competitive Banking Industry
Year: 2013
Type: article
Study design: Observational Study
Abstract: The main objective of this paper is to identify all the main factors that influence the customer satisfaction in banking at the present contemporary global and highly competitive economy. In this study a comparative research design has been chosen to explicate the determinants of Customer Satisfaction. The research method will help in examining the various factors those results in satisfaction in Retail Banking. Factor Analysis is the statistical tool that has been used for data analysis. In analysis part initially KMO (Kaiser-Meyer-Olkin) and Bartlett's Test was applied to the collected data. Kaiser-Meyer-Olkin Measure of Sampling Adequacy test shows the value of .814.The Principal Component Analysis extraction method was used to analyze the data with Varimax Rotation Method. The extracted communalities ranged from 0.477 to 0.777. For clarity of the factor definitions, factor loadings of more than 0.400 were considered. The factor analysis yielded 6 factors in all which explaining 63.369 percent of total variance. Applicative value: Implications of this research work will help the bankers of small town banks can identify that what are the various factors that can affect their customer satisfaction the most in the present competitive market. May be they can use these factors to drive Customer loyalty out of customer satisfaction.
Author: Prerna Dawar
Language: English
Subfield: Marketing
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W2732190786