Customer Satisfaction in Bank

Published: 2021-09-10 22:30:08
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Category: Business

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IntroductionBackgroundToday the most emerging industry in Nepal is banking industry. The pace and prospect of banking industry is very high. This industry has now incorporated the highest numbers of customer in the nation. Having considered banks are the backbone of the country it is equally sensitive in response to customer’s preference. The life and reputation of the bank rest in the hands of customers. Customers’ satisfaction is the lifeblood to the banking industry. As bank loses its image in the eyes of the public its demise is probably be certain. No institution can help the bank with its tainted reputation back to life. With the rise of stiff competition among banks it has been very difficult to retain the customers. Customers move to the banks which offer more facilities and services and more satisfaction their needs. So it is necessary to identify the element that dissatisfies the customers and get them satisfied.Customers’ satisfaction is the measure of how products or services supplied by a company meets or exceed the customers’ expectation. Here we have attempted to measure the customer satisfaction in relation to how customers perceive the service quality offered by the banks in Nepal.Objective of the StudyThe primary objective of the study is to gain an insight into the customer satisfaction in the Nepalese banking industry. However, the specific objectives are as follows:To present the frequency table in respect of gender, age, bank and districtTo study the mean and standard deviationTo study correlation analysis of different variables with service qualityTo study regression analysis of service qualityTo study graphical presentation of the data obtained and draw inferences from that dataTo study chi-square test analysisData and MethodologyIn order to examine the customer perception regarding the banks services, the survey was conducted during the month of Kartik 2071 and the data collected were primary by administering the structured questionnaire. The responses were collected via printed form of questionnaire by visiting different locations. They are kirtipur, Baneshwar, Newroad and Chabahil. A total of 20 questionnaires were distributed and collected to different individuals. The descriptive research methodology is applied here in order to drill and assess customers’ opinion regarding their perception towards banks’ service quality which is termed as customer’s satisfaction in banks. Theoretical FrameworkThe variable of primary interest in this study is the dependent variable of service quality. Four independent variables are used in an attempt to explain the variance in customer satisfaction. These five variables are: Age, CSD/teller service, Telephone response, Education level. The framework is presented in figure 4.1 below.                Figure 4.1: Schematic Diagram of the Theoretical Framework[pic 1]Independent Variables                                         Dependent Variables        Statement of HypothesisHypothesis 1Ho: there is no relationship between CSD/teller service and service qualityH1: there is positive correlation between CSD/teller service and service qualityHypothesis 2Ho: there is no relationship between telephone service and service qualityH1: there is positive correlation between telephone service and service qualityHypothesis 3Ho: there is no relationship between education level and service qualityH1: there is positive correlation between education level and service qualityHypothesis 4Ho: there is no relationship between age and service qualityH1: there is positive correlation between age and service qualityPresentation and Analysis of Data

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