Private Banks’ Attempt to Promote Customer Convenience, Satisfaction and Loyalty A Research on Semi-Urban Market

ABSTRACT

Purpose– Recent research has investigated how easily accessible services effect consumer satisfaction. In the Indian banking industry, especially in the semi-urban segment, however, there is a noteworthy lack of research on the impacts of service convenience on customer satisfaction and the direct influence of service ease on customer loyalty. The purpose of this research is to fill up that information vacuum by examining the link between service operational convenience and the satisfaction and loyalty of the customer. Research Methodology- Customers from the branches of Axis Bank, ICICI Bank and Bandhan Bank in the Suburban area of Kolkata (specially Baruipur, Narendrapur and Sonarpur area) made up the population of a recent research. Total 320 consumers are taken from different branches of the chosen three banks but 284 consumers of these three banks have given complete answers and chosen as appropriate sample or respondents. Path analysis using SPSS for Windows version 25.00 is used for statistical analysis. Findings - Our findings conforms that there is a significant impact of Decision Convenience (DC), Transaction Convenience (TC) and Benefit Convenience (BC) on Consumer satisfaction (CS). Customers are getting satisfied because of the seamless, round-the-clock hassle-free service. Research limitations- This study is envisaging on semi-urban segment can be extended towards rural one because now a days the private banks are extending their services in the rural population. The influence of the various antecedents of the SERVCON framework on Customer contentment about public sector nationalised Banks may be studied and evaluated in great depth. Practical implications- How different convenience factors influence consumer satisfaction and loyalty (in the assigned segment) are in the key point to evaluate. Originality/Value The study provides a comprehensive understanding of the different antecedents of SERVCON framework and their impact on customer satisfaction and loyalty in the semi-urban locality adjacent to the Kolkata.

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