The IUP Journal of Marketing Management
Gender Difference in Customer Satisfaction and Brand Loyalty Towards Banking Services
Article Details
| Pub. Date | :Feb, 2019 |
|---|---|
| Product Name | : The IUP Journal of Marketing Management |
| Product Type | : Article |
| Product Code | : IJMM21902 |
| Author Name | : Manish Mittal, Shruti Agrawal and Ratish Gupta |
| Availability | : YES |
| Subject/Domain | : Finance |
| Download Format | : PDF Format |
| No. of Pages | : 16 |
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Abstract
Researchers have observed that service quality impacts customer satisfaction and customer loyalty. To know the perception of customers towards service delivery, SERVQUAL model has been extensively used. The model measures service quality in terms of five dimensions-tangibility, reliability, responsiveness, assurance and empathy. Service expectations vary from individual to individual. They vary according to uncontrollable factors and demographics, culture and gender. The objectives of this study are to determine whether customer satisfaction from banking services and customer loyalty vary with gender and whether satisfaction from dimensions of SERVQUAL varies with gender. A self-administered survey was carried out to collect the data. Using a sample of 206 bank customers from Indore city, the study concluded that the customers are fairly satisfied with the quality of services offered by the banks on all the dimensions except responsiveness. Female customers are comparatively more satisfied with the service quality and they are more loyal to their banks as compared to male customers.
Description
Banks have played a significant role in the economic development of countries like India. A sound banking system is important for financial stability. In India, banks cater to the needs of a vast number of savers from the household sector, which prefer assured income and liquidity and safety of funds because of their inadequate capacity to manage financial risks. The liberalization of the Indian economy set off a chain of paradigmatic changes in most sectors, including the banking and financial service sectors. Ever since the banks in India started to operate more professionally, service quality has been considered as the critical element to success, and customers must be satisfied in order to stay ahead of the competitors. Many tech-savvy private banks have stimulated a demand for better banking service quality in order to attract and retain customers.
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