CUSTOMER SATISFACTION AND LOYALTY IN A FINANCIAL INSTITUTION
Mankem, Relindis (2017)
Mankem, Relindis
Centria-ammattikorkeakoulu
2017
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-201705249966
https://urn.fi/URN:NBN:fi:amk-201705249966
Tiivistelmä
The purpose of this thesis is to examine the correlations between customer satisfaction and customer loyalty. “Customers became a center for all banking activities due to increased competition for greater market share. Focusing on customer satisfaction has been the key to increasing service quality according to customers’ expectations in the banking sector,” suggested that the level of service quality is an indication of the organization's ability to meet customers' desires and demands. Therefore, organizations must become better in their services to meet the customers' needs and requirements. Managers depend on customers’ anticipation of service quality for the competition in the market. When customers are satisfied, they remain loyal to the bank and stayed there for long. For bank to effective compete in the environment in which they operate, bank should analyses their market in order to gain a real understanding of what their customer needs. Bank need to diagnose the customer needs and wants and design method to satisfy them. Forther more banks must analyses the strength and weaknesses of their competitors, they must exploit the weaknesses and try to second guess the competitors strategies
Both qualitative and quantitative research methods are used. In addition this work relies on the researcher internship experience in the Ecobank. one in-depth interviews was conducted with the manager on duty who is also the head of customer sevices in the bank. In addition, a questionnaire survey was conducted with the customers of the bank to find out the factors which influence their satisfaction and loyalty. Furthermore, a SWOT analysis was conducted to recommend a strategy for its future development. Customer satisfaction is regarded as an invisible asset. It is not only an improvement for the development of the finacial institution but also can be used in predicting for the operation quality and development of ecobank in general. To satisfy the customer and build their loyalty are the basics for an enterprise to be improved and developed. Customer satisfaction can be used as a standard to test a bank service quality. Service standard must start from the demands of customers and end with the satisfaction of customers.
Both qualitative and quantitative research methods are used. In addition this work relies on the researcher internship experience in the Ecobank. one in-depth interviews was conducted with the manager on duty who is also the head of customer sevices in the bank. In addition, a questionnaire survey was conducted with the customers of the bank to find out the factors which influence their satisfaction and loyalty. Furthermore, a SWOT analysis was conducted to recommend a strategy for its future development. Customer satisfaction is regarded as an invisible asset. It is not only an improvement for the development of the finacial institution but also can be used in predicting for the operation quality and development of ecobank in general. To satisfy the customer and build their loyalty are the basics for an enterprise to be improved and developed. Customer satisfaction can be used as a standard to test a bank service quality. Service standard must start from the demands of customers and end with the satisfaction of customers.