The Effect of Banking Service Quality on Customer Satisfaction
Banking industry has come of age post-independence in India. It is one of the highly competitive industries that has become the backbone of our economy. Apart from providing an array of products to its customers, it has also gained prominence over a period of time as far as offering services in terms of quality that may be the only differentiating factor in order to leverage its business. Thus, is imperative that banks emphasize on the value of quality of service and satisfaction of customers to retain them. The present study uses SERVQUAL (service quality) model on 200 samples from private sector banks in Bhubaneswar, Odisha. The analysis revealed that the quality of service had appositive and significant effect on the customer satisfaction. Based on the outcome, managerial implications focusing on important criteria were provided to improve the service quality in the organizations.
Keywords - SERVQUAL,Customer Satisfaction, Factor Analysis, Correlation Analysis, Regression Analysis.