Measuring Consumer Expectation in Banking Sector: A Comparative Analysis”

Abstract

This study is intended to compare the expectations of Indian consumers from their banks with what bank actually provides. Additionally, the study helps to determine if there is any significant difference in consumers’ expectations and banks’ offerings between public sector and private sector banks in India. This paper reports on a quantitative study of executives working in private and public sector organizations and colleges in Northern India. The objective of this study is to determine the factors that have the significant gap between expectations and actual in terms of banks’ service quality. There is not any significant difference between consumers’ expectations between private and public sector banks. There is significant difference between private and public sector banks’ actual offerings. There is significant difference (except Tangible factor) between consumers’ expectations and bank’s actual offerings for Private sector banks. There is significant difference between consumers’ expectations and bank’s actual offerings for Public sector banks. The deviation of consumers’ expectations and bank’s actual offerings is more in public sector banks as compared to private sector banks.