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SERVLOYAL Amongst Bank Customers of Indore
SERVLOYAL Amongst Bank Customers of Indore
SERVLOYAL Amongst Bank Customers of Indore
Nishant. Joshi, Assistant Professor with Prestige Institute of Management and Research, Indore, Madhya Pradesh, India (Phone: +91-9893301006; (e-mail: nishant_joshi@pimrindore.ac.in). Dr.Karunesh Saxena, Professor in Faculty of Management Studies, Mohan Lal Sukhadiya University, Udaipur, Rajasthan, India (Phone: +91-9928074007e-mail: karuneshsaxena@gmail.com)
Introduction
Loyalty Service Quality Banking Paradigm Shift in Global Banking Environment Regulatory , Structural and Technological Factors Financial Sector Reforms in India Increasing Competitiveness of Banking sector Narsimhan Committee Recommendations Facilitated entry of private sector Banks Foreign Banks also allowed
Introduction
Banks given more operational autonomy Market Power Shifting from Banks to Customers Customer is the King New Buzz Words of Banking .
Customer relationship Management Customer Satisfaction Customer Retention
Introduction
Customer Loyalty Long term oriented Customer Satisfaction- Influences repeat Business Customer Loyalty- Leads to Positive Word of Mouth also Gives Repeated Business Intense Competition in the Banking sector demands formulation of Marketing S trategies
Rationale
Numerous research projects on service quality undertaken in the developed countries. Pioneering efforts by the researchers to study service loyalty in central province of India Indore- Financial Hub of Central Province of India. Lessons of this study can be replicated in rest of the world.
Objective
To determine the impact of dimensions affecting service loyalty in banking services in Indore city.
Hypothesis
There is no significant impact of Attitude, Cognitiveness, Behavior and Trust on Service Loyalty.
Research Methodology
The Study: The research was exploratory in nature. The main objective behind this research was to identify service loyalty amongst bank customers of Indore. Independent Variable Attitude, Cognitiveness, Behavior and Trust Dependent Variable Service Loyalty The Sample The data was collected through convenience sampling method. A sample of 220 respondents was taken from scheduled banks like state bank of India, Punjab National bank, Canara Bank,HDFC, ICICI, IDBI etc. These were customers of the various above listed banks.
Research Methodology
Tools for Data Collection Primary Data has been collected from 220 respondents based on a Lickert four point scale. The questionnaire has been adapted from the service loyalty scale of Sudhahar,Israel, Britto and Selvam (2006) published in the American Journal of Applied Sciences. The questionnaire was divided in four sections and each section represents a dimension namely Behavioral, Attitudinal, Cognitive and Trust.
Research Methodology
Tools for Data Analysis Dimensional averages were drawn Augmented dickey fuller test (Using E-Views Ver. 05). Multiple regression using SPSS 17.0. In the process Durbin and Watson test was also applied to finally test the applicability of multiple regression.
Results
Their exists no Unit Root Problem Relatively High Correlation Problem of autocorrelation does not exists Regression Model thus formed is : L= 0.715 + 0.1825 B + 0.1935 A+ 0.0835 C + 0.23 T
Conclusion
In words of Keller, Delighted customers is yours forever, till delighted , the author expressed the concern that in global business formats the customers have choices so he shall remain with the service provider till he is delighted