Bank Marketing

In: Business and Management

Submitted By lucflydaigle
Words 2258
Pages 10
Customer is the kingpin for the development of trade, industry and services sector particularly in financial services. So, the significance of customer services in the banking sector came to force to compete in a market driven environment. Banks these days provide a variety of services ranging from opening a savings account to internet banking, granting loans to selling insurance, providing locker facilities to transferring money abroad. Their customers come from all classes of society from a salaried group to a Multi National Corporation having its business activities all around the world. The banks have to satisfy all the customers belonging to different social groups. Measuring services quality in the services sector particularly in the banking sector is more difficult than measuring the quality of manufactured goods. The banking has therefore become more complex and requires specialized skills. People working in banks act as a bridge between the bank and the customers. They are the people who face customers directly and are the first ones to know what customer actually needs. The concept of customer satisfaction and services quality is interrelated with each other. Moreover satisfaction of customer depends upon services quality and service quality is increasingly offered as a strategy by marketers to position themselves more effectively in the market place. As survival of the fittest has become the order of today, every bank is trying woe the best customer who is common for all. Retaining the existing customers and attracting new ones has become all the more difficult especially for public sector banks (Bhatt, 1990). It may be concluded from the above discussions that customer satisfaction is always taken as a central point in banking industry. There are various factors that actually generate customer satisfaction. Service quality is one of them. This study has…...

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