Customer Satisfaction and the Banking Industry Essay

node Satisfaction and the Banking perseverance - Essay ExampleOther important reports include those by P Carrol and F Reichheld, titled The delusion of Customer Retention, as well as the paper by M S Krishnan et al, titled Customer Satisfaction for Financial Services The Role of Products, Services and Information Technology. These papers have important notes on not just acquiring clients but also retaining them - which is where customer contentment comes into play. This paper is secondaryd on the case study of ICICI Bank in India. Therefore, the culture found on its website was used as well. In this case it is important to note that most of the texts used are journal articles are this is a real topical theme and it requires special classification which most books are not able to offer. With a miscellanea of other papers that revolve around the theme of customer satisfaction and banking services, it is imperative to mention that in that respect is still a lot of scope for res earch in terms of finding niche markets and ply to customers from these areas with a steering on need specific programs.Customer Satisfaction - Conception and ImplicationsCustomer satisfaction may be defined as that scope within an organisations operational area where the transmission of information and services with a focus on time and quality takes place. Customer satisfaction is an important dickhead with which it is easy to harness the potency of expanding ones customer base manifold. In the banking sector, this theory has special importance owe to exploitation competition and the fact that it is a service based industry where there is maximum military man interface.The tools for cadence customer satisfaction include surveys as well as applying statistical analysis alike(p) the customer satisfaction index to which essentially... Customer satisfaction may be defined as that sphere within an organisations operational area where the transmission of information and services with a focus on time and quality takes place. Customer satisfaction is an important tool with which it is easy to harness the potential of expanding ones customer base manifold. In the banking sector, this theory has special importance owing to growing competition and the fact that it is a service based industry where there is maximum human interface.The tools for measuring customer satisfaction include surveys as well as applying statistical analysis like the customer satisfaction index to which essentially measures market share and profitability. This will help provide an empirical base for any hypothesis on the basis of which models and programs may be formulated. Factors influencing customer satisfaction in sell Banking in UK, author Anita Chakrabarty has pointed out how the last two decades have been seeing an increase in battle in the retail banking sector in UK. This has a strong connection with the various activities that have been triggered in the banking industry all ove r the world. ICIC is a bank that has taken this conception one step precedent by applying it in the context of the loyalty business model. Thus, one will find that the banks are at present in a race towards consolidation of their positions and mergers. In this regard, they have realized that the primary focus of their activities moldiness be on the optimum satisfaction of the customers.