Service Marketing

The Banking Service Sector

By: Valancia Lobo

Prajakta Maherekar
 WHAT IS SERVICE IN BANKING
SECTOR?
 According to the finance and development
department of the International Monetary
Fund (IMF), financial services are the processes
by which consumers or businesses acquire
financial goods.

 The banking industry is the foundation of the

financial services group.
Banking services are provided by
large commercial banks, community banks, credit
unions, and other entities.

 Example : a payment system provider offers a

financial service when it accepts and transfers
funds between payers and recipients. This
includes accounts settled through credit and debit
cards, checks, and electronic funds transfers.
UNDERSTANDING THE SERVQUAL MODEL

As is indicated by the name of this model, SERVQUAL is a

measure of service quality.

Essentially it is a form of structured market research that

splits overall service into five areas or components.
 SERVQUALS 5 DIMENSIONS

R = Reliability

A= Assurance

T = Tangibles

E = Empathy

R = Responsiveness
 SERVQUALS 5 DIMENSIONS
•Tangibles refers to physical facilities, equipment
and appearance of personnel

•Reliability is the firm’s ability to perform the

promise service accurately and dependably

•Responsiveness is the firm’s willingness to help

customer and provide prompt service

•Assurance is knowledge and courtesy of

employees and their ability to inspire trust and
confidence

• Empathy is caring and individualized attention

paid to customers
QUESTIONNAIRE SAMPLE FOR
RESPONSE REGARDING THE SERVICE
BANK ‘X’
Tangibles:

1. Bank X has all the necessary modern equipment (online banking ATM
service .electronic cashing internet banking credit cards etc
2. The employees are neat appearing
3. The pamphlets and statement are clear attractive and well explained
4. The benches has convenient sitting and waiting arrangement
Reliability :

1. Bank X delivered all the services within the promised deadline

2. You feel safe in all your transactions with in bank
3. The advertising and promotional messages of bank X reflect reality
4. The bank maintain error free records

Responsiveness :

1. The employees prevent long waiting lines

2. Whenever you face any sort of problems the employees helps and resolve the problems
3. The bank operates regular and effective complaint handing process
Assurance:

1. The employees are quick and efficient in service delivery

2. The branch employees are continuously courteous
3. All the employees have strong knowledge to answer your enquires about the offering and
their operations

Empathy :

1. The bank maintains strong customer relationships

2. The banks always informs you about new and attractive schemes and always suggest
you on taking the correct decisions
WHAT IS CONVENIENCE SAMPLING?

Convenience sampling involves using respondents who are “convenient” to

the researcher.

There is no pattern whatsoever in acquiring these respondents—they may

be recruited merely asking people who are present in the street, in a public
building, or in a workplace, for example. 
ADVANTAGES OF CONVENIENCE SAMPLING

1.Simplicity of sampling and the ease of research

2.Helpful for pilot studies and for hypothesis generation

3.Data collection can be facilitated in short duration of time

4.Cheapest to implement that alternative sampling methods