Customer Satisfaction with Retail Banking Services in Ghana

Recent studies indicate high competitiveness of the Ghanaian banking industry, making it difficult for banks to satisfy and retain customers. However, little empirical knowledge exists on the determinants of customer satisfaction toward the services delivered by the banks. This article reports a study of the determinants of customer satisfaction of retail bank services in Ghana. An extensive review of the extant literature was used to identify the theoretical determinants of customer satisfaction in retail banking and their measurement scales. These were adapted to build a conceptual framework for the empirical investigation conducted. Data were collected using a questionnaire administered through personal interviews to 650 customers of retail banks, and the results were factor analyzed and regressed. The empirical results indicated that relational, core, and tangible dimensions of service were positively associated with customer satisfaction in retail banks in Ghana. The study discusses the strategic implications of the findings for the management of customer satisfaction for retail banks operating in Ghana. © 2014 Wiley Periodicals, Inc.     

The interrelationships among service quality,customer satisfaction,and customer loyalty: Examination of the fast-food industry

The purpose of this study was to use customers’ perspectives to develop a conceptual model for improving service quality and enhancing customer satisfaction and loyalty. The 197 samples were selected from customers of leading fast food franchise enterprises in Taiwan. The research results indicate that service quality positively influences customer satisfaction and customer loyalty. Service quality positively influences customer loyalty through customer satisfaction. The research findings indicate that managers need to ensure they have efficient service quality to enhance customer satisfaction and customer loyalty levels.     

Receiving,Recording, and Responding to Customer Complaints: The Effects of Formalizing Customer Complaint Handling Policies in Retail Firms

ABSTRACT

Given the critical need for retail firms to provide high quality customer service and satisfaction, this article investigates the importance of formalizing customer complaint handling policies and procedures with regard to its relationship to the ways in which retail companies receive, record, and respond to customer complaints. A survey of 184 firms from the retail environment of a midsized community reveals that the existence of such formalized procedures is significantly associated with firm size, better channels of communication with customers, mechanisms of recording customer feedback, and better-trained employees, which have been shown to relate to higher firm performance.     

The Effect of Cultural Distance on International Marketing Strategy: A Comparison of Cultural Distance and Managerial Perception Measures

ABSTRACT

The purpose of this article is to examine whether service convenience increases customer satisfaction that fosters customer loyalty in Indian commercial banks. A cross-sectional study of 352 retail banking customers through questionnaires was conducted. The population of the study is retail urban customers of banks in Rajasthan. Responses are analyzed using structural equation modeling. Dimensions of service convenience are decision convenience, access convenience, transaction convenience, benefit convenience, and postbenefit convenience. Decision convenience was found to influence customer satisfaction more than the other dimensions of service convenience. Customer satisfaction furthers customer loyalty. The article emphasizes the significance of SERVCON on customer satisfaction for the Indian banking sector. The direct impact of SERVCON on customer loyalty is also studied.     

Understanding organization-customer links in a service setting in Russia

This study examines the effect of management commitment to service quality on customer satisfaction through the mediating links of service climate and core and relational service performance in a high-power distance culture. Data were collected using a survey distributed to the FLEs and customers of branches of a Russian retail bank. Study findings demonstrate that branch service climate mediates the management commitment to service quality – service performance relationship and that this indirect effect is stronger on core service performance relative to relational service performance. Contrary to expectations, our findings demonstrate the importance of relational service performance relative to core service performance as a mediator of the branch service climate – branch customer satisfaction relationship. Implications of these novel findings and future research directions are discussed.     

Retail service quality,corporate image and behavioural intentions: the mediating effects of customer satisfaction

This study investigates the relationships between service quality, corporate image, satisfaction and behavioural intentions. A structural equation modelling (SEM) approach is applied to test the proposed conceptual framework, using data collected from 404 supermarket customers in China. The structural model suggests that customer satisfaction fully mediates the impact of retail service quality on behavioural intentions (e.g. intention to recommend and repurchase). The results also indicate that retail service quality significantly influences customer perceptions of corporate image. The relationship between corporate image and behavioural intentions is fully mediated by satisfaction.     

Retail service quality as a key activator of grocery store loyalty

This paper demonstrates the crucial role of retail service quality as a key activator in the formation of customer loyalty to the store; the latter is understood in a conative and action sense. Applying a modified version of the RSQS scale, a model is tested by administering a questionnaire to 450 customers in an under-investigated retail setting, i.e. supermarkets, within the Italian context. Structural equation modelling was employed. The results prove that customers consider retail service quality as a second-order dimension and recognize the main contribution of physical aspects and reliability first-order dimensions. Findings corroborate the crucial role played by perceived service quality and the mediating role of customer satisfaction and conative loyalty within the relationship between service quality and action loyalty.     

An integrative approach to relationship marketing,customer value,and customer outcomes in the retail banking industry: a customer-based perspective from Turkey

Given how important it is to provide superior value to customers and to maintain customer loyalty for a sustainable competitive advantage, the aim of this paper is to examine the relationships among relationship marketing components of – trust, competency, commitment, communication, and conflict handling, – relationship investment, relationship quality, perceived customer value, satisfaction and loyalty in an integrated framework in the Turkish retail banking industry. Unlike previous studies, this research extends the literature by analysing affective as well as cognitive dimensions in the same model with a holistic view by simultaneously examining the direct and indirect effects of the related concepts. The distinctive nature of this study is its evaluation of customer satisfaction and loyalty from the perspective of actual consumers. The research model was tested using data collected from 685 retail banking customers by applying structural equation modelling. The findings show that relationship marketing induces loyalty through relationship quality, customer value, and satisfaction, which are mainly provided by trust, communication, and relationship investment. Furthermore, relationship investment and relationship quality are the most important factors in the development of customer value, satisfaction, and loyalty. The emotional value dimension, which captures the affective aspects of perceived value, has the strongest effect on both satisfaction and loyalty.     

Operations in banking: the service quality and effects on satisfaction and loyalty

This paper studies the service quality provided by the banks. The objectives are (i) to identify which aspects of the transactions carried out by the banks are important for the service quality perceived by the customers, taking into account some aspects that are sometimes ignored (online channels) and (ii) to observe how service quality influences customer satisfaction and how customer satisfaction affects the loyalty towards the bank. Using a factor analysis, the research identifies the operative, physical, new technologies and human factors. Next, using structural equations models with AMOS, the results show an influence of the operative aspects and the new technologies on service quality, as well as the confirmation of quality as a precedent to customer satisfaction, and how such satisfaction influences on customer's loyalty towards the bank.     

Antecedents and consequences of role stress of retail sales persons

Given the central proposition in services marketing that service excellence is largely determined by the interaction between customer contact personnel and customers, we examine the antecedents and consequences of role stress in a retail context both from the employee and the customer perspective. We investigate the impact of the service control versus the empowerment model on role ambiguity and role conflict and we look at the effect of these role stressor on commitment towards the organization and to delivering service quality by retail sales persons. Finally, we explore the impact on customer perceived service quality. Empirical findings reveal, among other things, that both formalization and empowerment reduce role ambiguity. Role ambiguity in turn is negatively associated with both organizational commitment and commitment to quality. The latter type of commitment has a positive impact on customer perceived quality.     

Perceived justice of service recovery strategies: Impact on customer satisfaction and quality relationship

This article aims to build on previous research analyzing the effects of perceived justice on customers' satisfaction with service recovery and the attitudinal consequences of the recovery strategies firms adopt after service failures occur. The results obtained from a conceptual model developed for the mobile‐phone sector support the idea that justice perceptions positively influence satisfaction with service recovery. Other findings are that satisfaction with service recovery positively affects trust and commitment, and that these two variables, in turn, positively affect overall customer satisfaction. Finally, the results also suggest that positive past experiences mitigate the effects of inadequate service recovery strategies on the quality of the relationship with the customers. © 2010 Wiley Periodicals, Inc.     

How managers in the financial services industry ensure financial performance

With the wide prevalence of the balanced scorecard, this study develops and empirically tests a model examining the relations between the customer perspective (relationship bonding tactics, perceived relationship investment, customer satisfaction, trust, commitment and customer behavioural loyalty) and the financial perspective (financial performance). A cross-departmental study in the financial services industry was conducted based on three consumer samples (department of Loans, Deposits, and Credit Cards) drawn from XYZ bank, one of the most famous banks providing merchant banking services in Taiwan. The results show that the customer perspective does have positively significant effects on financial performance, as proposed by the BSC (Balanced Scorecard) and SPC (Service Profit Chain). In addition, the findings suggest that customers purchase financial services according to their perceived relationship to investment retailers, with corresponding bonding tactics, which results in different levels of customer satisfaction and behavioural sequences, and is important in reinforcing customers' trust, commitment, repurchase intentions and corporate financial performance.     

The behavioural sequence of the financial services industry in Taiwan: Service quality,relationship quality and behavioural loyalty

This study develops and empirically tests a model for examination of the relations among service quality scales, relationship bonding tactics, customer satisfaction, trust and commitment, and customer behavioural loyalty in a relationship marketing system. This paper aims to test the relationship between perceived service quality satisfaction and relationship intentions, or, in other words, whether or not consumers will consider building long-term relationships with service providers on the basis of a single instance of perceived service quality. Based on three groups of samples from XYZ bank, one of the most famous banks providing merchant banking services in Taiwan, the findings suggest that financial products with different product attributes need different kinds and levels of service and relationship investment. The findings also suggest that there does exist a positive relationship between service quality satisfaction and perceived relationship investment.     

Zone of tolerance for banks: a diagnostic model of service quality

Service quality has become an increasingly important factor for success and survival in the banking sector. Provision of high-quality service aids in meeting several requirements such as customer satisfaction and its consequent loyalty and market share, soliciting new customers, financial performance, and profitability (Cui, C.C., Lewis, B.R., & Park, W. (2003). Service quality measurement in the banking sector in South Korea. International Journal of Bank Marketing, 21(4), 191–201.). This paper presents the bank service quality measurement in its extended form. It deals with the concept of ‘zone of tolerance’ in judgments of service quality proposed by Zeithaml, Berry, and Parasuraman (1993, The nature and determinants of customer expectations of service. Journal of the Academy of Marketing Science, 21(1), 1–12.). The ‘zone of tolerance’ is recognized in the service quality literature as representing a range of expectations and an area of acceptable outcomes in service interactions. The present study describes the zone of tolerance for young customers’ service expectations and determines the customer satisfaction level for banks. The study focusses only on the youth market to formulate long-term strategies because young customers tend to keep themselves up to date with latest technological developments. A conceptual model BANKZOT is presented in this study, and the results demonstrate that evaluation of services can be scaled according to different types of expectations – ‘desired' and ‘adequate’ – and that customers use these two types of expectations as a comparison standard in evaluating bank services. The findings reveal that young customers have a narrow zone of tolerance with regard to the services provided by the banks. The results with respect to gap analysis reveal that there was a shortfall in the service quality provided by the banks in the sample, with the largest gap being found in tangibles and empathy of service quality dimensions. The results of exploratory factor analysis reveal that the SERVQUAL model is found to be uni-dimensional in this study. The results, managerial implications, and future research implications are discussed in detail.     

The link between customer satisfaction and price sensitivity: An investigation of retailing industry in Taiwan

Are customers less likely to seek bargains once they are satisfied with a product and service? This study examines the relationship between customer satisfaction and price sensitivity. Specifically, satisfaction is divided into economic satisfaction derived from tangible products and social satisfaction provided by service encounters. This survey of 248 retailer–consumer dyads shows that economic satisfaction is negatively associated with price sensitivity. However, social satisfaction is positively related with price sensitivity, especially for female customers and customers with high patronage frequency. Interpersonal relationships emphasized in the Chinese collectivist societies tend to influence customers' price sensitivity. These findings have many implications for researchers and practitioners in the retail sector.     

服务质量构成要素对顾客满意影响力差异研究--现有顾客同潜在顾客间的比较

本研究通过对银行服务业现有顾客样本和潜在顾客样本的比较分析发现:两种不同类型的顾客样本分析结果都显示服务互动质量和结果质量要素对顾客满意都有显著正影响,顾客满意对(重复)购买或口头传播等行为意向有积极效应。物理环境质量对顾客满意的显著影响效应只是在潜在顾客样本中发现,而在现有顾客样本中并不显著。现有顾客样本的分析结果显示三方面服务质量要素对顾客满意的影响力是有显著差异的,而对于潜在顾客样本,三方面的服务质量要素对顾客满意的形成所起的作用没有显著差别。     

Exploring information technology success of Augmented Reality Retail Applications in retail food chain

Augmented reality retail applications (ARRAs) have emerged as rapidly developing innovative and futuristic retail innovation used in both physical store and online shops to improve the retail settings and customer experience. So, the objective of this research was to identify predictors of user benefits of ARRA in the retail food chain. By integrating the theory of information system success model, this study proposes a model to investigate the mediating effect of two values: (1) user satisfaction and (2) user continuance intention between quality perspective as explanatory variables (system, service, and information quality) and user benefits as the outcome variable. Both the mediating factors are found positively playing mediating roles among all proposed relationships. This paper provides valuable course of action for retailers and marketers on assessing customers satisfaction and using ARRA to create marketing strategies effectively.     

Electronic and in-person service quality of hybrid services

The service industries have experienced dramatic changes in service delivery format because of fast-paced innovation in information technology. Hybrid services involve service deliveries through conventional and technology-enabled environments, each of which is complementary and non-interchangeable. However, limited research has examined consumer behavior in response to a series of relevant service episodes in different channels at different points in time. In other words, how customers perceive service quality at each service encounter and how the cumulative effect of these perceptions influences customers’ overall service value assessment and satisfaction remain unclear. This study addresses this research gap by investigating the sequential influence of e-service quality on in-person service quality in a hybrid service format in which interpersonal and computer-mediated services coexist but at different points in time. Empirical analysis shows that e-service quality directly and positively affects in-person service quality, which fully mediates the effects of e-service quality on perceived value and customer satisfaction. The sequence of service encounters matters because in-person service quality perception has a stronger effect than e-service quality on customer metrics. Cumulative quality perceptions significantly influence perceived value and overall customer satisfaction. Theoretical and managerial implications are presented in the discussion.     

“I just like this e-Retailer”: Understanding online consumers repurchase intention from relationship quality perspective

In an increasingly competitive market, retaining customers is essential for both e-retailers and online shopping platforms. This study focuses on relationship quality as it pertains to repurchase intentions in Ghana. The mediating role of price level is addressed. The results show that customer trust, customer commitment, and customer satisfaction affect price level. Customer trust and satisfaction affect repurchase intention, but customer commitment does not affect repurchase intention. Also, price level mediates the relationship between relationship quality and repurchase intention. Implications of these findings are discussed.     

Retail bank selection in developed and developing countries: A cross‐national study of students' bank‐selection criteria

This exploratory research article is concerned with students' selection of retail banks in the United States and Ghana. It is a comparative cross‐national study aimed at revealing the factors determining retail bank selection among students in different environmental settings. The key objective is to establish if there are any significant differences and/or similarities in students' selection of retail banks in developed and developing economies. A similar data‐collection method was employed in the United States and Ghana to facilitate constructive comparison. The results identified four key factors—convenience, competence, recommendation by parents, and free banking and/or no bank charges—to be consistent across the two economies. The recommendation of the study is that in the context of an open and liberalized market environment, retail bank marketing strategies should be standardized irrespective of the national development stage. It concludes that retail bank managers particularly in developing countries should learn to provide consistent and good customer care. © 2009 Wiley Periodicals, Inc.