Service quality, customer satisfaction and customer loyalty in the commercial banking industry: a case study of selected banks in ashanti region of ghana
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Date
2023
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KNUST
Abstract
The world has become a global village as competition among banks is now intense. Globalization is fueling increased competition in Ghana banking industry and as a result, banks are challenged to adopt customer centered strategies that would enable them to gain customer loyalty. The aim of the study was to examine the indirect role of customer satisfaction on the impact of service quality on customer loyalty in the Ghanaian Commercial Banking sector in the Ashanti Region. The study specifically sought to examine the effect of service quality on the loyalty of the bank customer, assess the impact of service quality on customer satisfaction in the banking industry and analyze the indirect role of customer satisfaction on the effect of service quality on customer loyalty in the banking sector. The study adopted a descriptive study design with quantitative approach. The study employed simple random sampling to select customers and purposive sampling for the management members. The study utilized a sample of 169 respondents and analyzed the findings using mean and standard deviation. The findings of the study revealed that majority 56.0% of the respondents agreed to the items that measured the effect of service quality on the loyalty of the bank customer, tangibility and empathy had the highest mean (3.9 and 3.7) which depicted statistically significant effect of service dimensions on customer satisfaction, the findings of the study further revealed overall mean score and standard deviation (3.4 and 1.0) of the items which analyzed the indirect role of customer satisfaction on the effect of service quality on customer loyalty in the banking sector. The study concluded that banks be giving prompt service, always ready and willing to help customers, and never too busy to respond to customer request. The study recommends bank managers should also follow up the actions of bank employees for their ability to give attention to individual customers and willingness to help them.
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This thesis is submitted to the department of marketing and corporate strategy, kunst school of business in partial fulfilment of the requirements to the award of masters degree in business administration (strategic management and consulting)