Awareness Level of Canara Bank Consumers: A Study in Erode District

Abstract

Banking is a service industry. Its function is to extend financial services to its customers. Since, the main area of operation of a bank is very different from that of operation of a manufacturing concern or a trading concern, the norms for the customers and the expectations of the customers are also different from those of the consumers of public utilities and industrial products. For any business to grow and prosper, it is the customer who places a predominant role. It is how the customer perceives the organization and feels about it, decides the future of that particular business. The perception of customers has changed over the years. The purpose of a business was to attract and retain the customers, but in present scenario, it goes beyond retaining the customers. Apart from the realities there is another important factor i.e. awareness of customers towards the goods or services offered by Banking industry. The customers will buy the product or utilize the services of the concern only if they have some knowledge about that product or service. So it is on the part of the producers to create awareness of their products in the minds of consumers.