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What Matters to South African Bank Customers? A Case Study of four Main South African Banks

PRIMA: Practices and Research in Marketing

Volume 6 Issue 1 & 2

Published: 2015
Author(s) Name: Kingstone Mutsonziwa | Author(s) Affiliation: Head of Information and Research, FinMark Trust, South Africa.
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Abstract

This paper is a follow-up article based on the first article titled Customers speak for themselves: A case of Customer Satisfaction in the four Main South African Banks. Customer satisfaction within the banking industry is very important in the South African context. Although banks are trying their best to give their customers the best service, it is important to continuously measure customer satisfaction and identify service attributes that contribute to overall customer satisfaction for the banks. The data used in the analysis is based on a quantitative survey of 500 randomly selected customers in Pretoria, Johannesburg, Durban and Cape Town were interviewed using a face to face methodology. The key drivers of overall customer satisfaction based on regression analysis for the different banks were helpfulness and innovativeness (ABSA), helpfulness, innovativeness of the bank, resolution of problems and investment advice (FNB), language usage and friendliness of service consultants (Nedbank), innovativeness of the bank, investment advice and use of language (Standard bank). These attributes were important to the overall customer satisfaction and need to be closely monitored by the management of these banks.

Keywords: Customer Satisfaction, Impact Grid, Satisfaction Drivers, Correlation, Regression

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