Customer Satisfaction on Service Quality (With Special Reference to State Bank of India in Visakhapatnam District)

Abstract

The rapid modernization of information technology and increasing competition in the financial sector has changed the landscape of the financial industry in recent decades. In most of the cases new technologies adopted in the financial industry gave the customers more freedom and convenience than ever. In the era of steep competition, the superior service quality is the vital, critical factor which can differentiate and improve organization’s performance. There is enough evidence that demonstrates the strategic benefits of quality in contributing to market share and return on investment. Measuring service quality in the service sector particularly in the banking sector is more difficult than measuring the quality of manufactured goods. Moreover satisfaction of customer depends upon service quality and service quality is increasingly offered as a strategy by marketers to position themselves more effectively in the market place. Therefore, the paper largely focuses upon the service quality through the SERVQUAL model in the select bank of select region and the methodology of the study is purely based on the primary data by conducting survey to identify customer satisfaction on service quality in the select bank.