Explicating Customer Satisfaction:A Survey on Private Commercial Banks

Abstract

Customer satisfaction is an embracing issue and attracts researchers irrespective of the disciplines over the last century. The outcome is the different models addressing the level of satisfaction. Customer satisfaction is more prioritized in recent years due to the quality drive among customers. The current research also targets to accommodate the quality issue on satisfaction from service providers' point of view. Services of private commercial banks are evaluated to study the level of satisfaction achieved by them in satisfying their clients. A pilot study reveals a couple of factors that may affect customer satisfaction. On the basis of the factors selected in pilot study stage, a structured questionnaire on Likert 7 point scale is constructed and administered. Factor analysis is used as a data reduction tool to derive a group of variables affecting customer satisfaction. Finally, a regression model is developed and tested to explain the level of customer satisfaction in line with the group of variables identified through factor analysis. The regression model produces superb results and the findings of the research carry strategic meaning to both bankers and customers.