Question

Literature review on service quality and customer satisfaction

Answer 1

The dynamics of service quality and satisfaction of customer on banks situated in various countries indicates that earlier studies offered no consensus over the subject, to confirm the issues and trends of these factors which regulate service quality and customer satisfaction. Now-a-days all public, private and foreign banks play a vital role in retail banking and provide lot of core banking services to all their rural and urban customers to maintain customer loyalty, retention and providing 100% customer satisfaction. But there is some evidence that few public, private and foreign banks do not give importance to their retail customer relating to maintenance of service quality and customer satisfaction. In this regard, this research paper focuses with a purpose to report the findings of existing literature to identify decompose and define the dynamics of quality service and satisfaction of customer towards all banking services in Global scenario including India. The contribution of the study would broadly be two fold namely quality service and satisfaction of customers in banks across various countries. This literature review based study will definitely help new researchers to identify their research problems for their research study.


In the current banking scenario it is obvious that banks gain competitive advantage by rendering efficient service and thereby enhancing customer relationship. More emphasis on creating loyal customers is the need of the hour. It is pivotal for all players in the financial service industry to understand the needs of the customer and customize services based on their needs. This in turn will pave way for achieving customer satisfaction to a larger extent. The measurement of the same is an important factor in banking sector.

In this ICT (Information, Communication and Technology) era, the mode of direct pay, online financial services has gained value. Now a day, customers need flexible hours of operation, customization and transparency. Due to increased market competition, customers’ defection rates are higher. Thus, research on service quality and satisfaction of customers in banking sector is considered important.

In this research paper, the researchers have focused on service quality and customer satisfaction literature that has been receiving significant attention over the last few years. This research paper is classified in two fold namely Quality of Service and satisfaction of customers in banks across various countries.



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Answer 2

There are many authors who have written about service quality and customer satisfaction.

Explanation:

• All of them say that service quality and customer satisfaction are two important milestones in business.
• If our service is good then the customers will be loyal to us and will continue doing business with us. However, if our service does not make the customer happy, then the impact will be huge.
• He will spread bad news about our business. This will in turn reduce the business and will not invite new customers.

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