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Essay On Customer Satisfaction In Banking

723 Words3 Pages

1. INTRODUCTION
Banking sector in Ghana is facing a very fast fluctuating market. This is as a result of emerging new banks from other countries and some financial crises which are facing the country now as a result of poor management by the government. Additionally the effect of financial crises and economic problems amid the financial institutions has created a great challenge for the overall sector in the banking industry.
As a result of this situation targeting at customer satisfaction has become a source of worry for majority of the banks. A bank can measure the effectiveness of its business if the customers are satisfied with their services. It will help them to know the potentials, areas to improve and if there are any suggestion and …show more content…

Customer been satisfied gives high retention rate there by increasing profits and also success. Therefore factors that lead to customer satisfaction must be identified and that is a very critical step for a bank that wants to be ahead of competition and also be the preferred bank by all standards.
The definition for customer satisfaction is vague and an applied concept and the actual indication for the state of satisfaction will differ from person to person and also on products and services that is offered by the bank. Customer satisfaction state is subject to both physical and mental variables which relates to satisfaction behaviors such as return and recommend rate.
The kind of products and services an organization render will also determine the level of satisfaction a customer will gain as the customer will compare products and services from one organization to another. Among these factors are timeliness, reliability, empathy, knowledgeable staff, assisting customers to solve compliant, good communication skills, commitment to customer and innovation

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