Determinants of customer satisfaction in retail bankng at Dunkwa, Ghana

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September, 2016
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The banking sector in Ghana has undergone tremendous change over the years as a result of keen competition among the players. Banks are constantly adopting dynamic customer service practices and strategies in order to retain customers. Intense competition has led to decrease in firm’s profit, switching customer behaviour and spreading negative word of mouth if services do not meet client’s expectation resulting in the need to investigate customer satisfaction in retail banking within Dunkwa Catchment area. The study focused on assessing determinants of customer satisfaction in retail banking at Dunkwa, Ghana. The survey was conducted on a total of 500 respondents out of which 406 responses were received representing 81.2% response rate. The study collected data using questionnaires. The study adopted convenience and purposive sampling technique in selecting customers. Statistical Package for Social Sciences software was used to run the descriptive statistics. Regression analysis was used to estimate the relationships among variables. Findings revealed that, employees at the Retail Banking are always ready to response quickly to customers’ needs and further assist customers with any challenges they encounter during the banking hours. The findings further revealed that high services quality and standards are very crucial to them and therefore prepared to pay any amount to receive or enjoy the quality services. Competitive products are most often than not considered to be of high quality with increased performance. The study records a positive impact of sympathetic staffs and operational hours on customer satisfaction. Sympathetic staffs and operational hours are statistically significant and are making a unique contribution to the prediction of customer satisfaction. The study recommended improvement on the banks system of service delivery to its customers, most especially the customer service practices, constantly engagement of both the internal and external customers of the bank in order to achieve optimum satisfaction as well as other stakeholders in decision making so as to identify their pressing needs.  
A thesis submitted to the Department of Marketing and Corporate Strategy of the Kwame Nkrumah University of Science and Technology in partial fulfillment of the award of the degree of Master of Business Administration (Marketing).