Facility Value, Customer Pleasure and Devotion in Banking Sector of Pakistan

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1. Saudi Journal of Business and Management Studies Abbreviated Key Title : Saudi J Bus Manag Stud ISSN 2415-6663 (Print) |ISSN 2415-6671 (Online) Scholars Middle East Publishers, Dubai, United Arab Emirates Journal homepage: http://scholarsmepub.com/sjbms/ Original Research Article Facility Value, Customer Pleasure and Devotion in Banking Sector of Pakistan 1* 2 2 3 4 Syed Zahid Abbas Naqvi , Maimoona Arshad Muhmmad Hamza Qummar , Shahzad Ahmad , Syed Ali Raza Naqvi 1 Department of Business Studies, Pakistan Insitute of Economics, Islamabad, Pakistan University institute of management science, Pir Mehr Ali shah Arid agriculture University Rawalpindi, Pakistan M.A Enghlish, Shahzad Home of Knowledge, Rawalpindi, Pakistan 4 Btech Preston University, Islamabad, Pakistan 2 3 DOI:10.21276/sjbms.2019.4.6.3 *Corresponding author: Syed Zahid Abbas Naqvi | Received: 05.06.2019 | Accepted: 15.06.2019 | Published: 25.06.2019 Abstract The major purpose of the research paper is to measure the quality of service offered by private banks operating in Pakistan. Additionally, it tries to investigate the relationship between service quality, customer pleasure and devotion. In order for a bank offer to reach the customers, there is a need for services. These services depend on the type of product and it differs in the various organizations [1]. Service can be defined as an intangible offer by one party to another in exchange of money for Service quality in the management and marketing literature is the extent to which customers' perceptions of service meet and their expectations. Thus service quality can intend to be the way in which customers are served in an organization which could be good or poor [2]. A loyalty program may give a customer advanced access to new products, special sales coupons or free merchandise. Our study shows the three basic features of a customer in the banking sector which is service quality, customer pleasure and banking devotion in the banking sector. The findings of our study show that most of our respondents are well satisfied with banking services to provide by different commercial and Islamic banks such as HBL, UBL, NBP, MCB etc. in Rawalpindi sadder. The services provided by the banks particularly ATM. Machines are very praised by the customers. The loyalty provided to customers by the banks was also very good and most of the respondents were satisfy from that but there were also some major problems in these banking sectors for customers which should be handled as soon as possible for their good services we also find out that the banking policies for customer services and to maintain loyalty with customer should be enhanced more precisely. Keywords: Service Quality, Customer Pleasure, Customer’s Devotion. Copyright @ 2019: This is an open-access article distributed under the terms of the Creative Commons Attribution license which permits unrestricted use, distribution, and reproduction in any medium for non-commercial use (NonCommercial, or CC-BY-NC) provided the original author and source are credited. INTRODUCTION Customer are highly important for businesses especially after the marketing era launched during 1950s [3]. During this era, companies started to focus on customer needs and produced more customized products.[4] Now customer satisfaction is becoming a great topic of interest for researchers and organizations around the world [5]. Every organization tries to achieve customer satisfaction in order to make profit and grow [6]. In this study, the focus is on customer satisfaction [7]. Customer Pleasure Customer are those individuals who buy our products and services [8]. Thus, customer is an Important stakeholder of organization who provide income to the organization [9]. Marketing literature distinguishes between customer and consumer as customer is someone who purchase your product; while, consumer is someone who consume the product [10]. Problems of the Statement  Violent and poor attitude and behavior on the bank’s staff in their dealings with actual and potential customers.     Insufficient facilities and equipment required to provide modern banking services. Absence of common training programs for the staff to shape up their attitude towards customers. Unduly long processes in responding to customer’s needs. Excessive competition from banks which perform commercial banking services. Service Quality Services plays important role in any country’s economy. There are various services offered by service oriented firms. Generally, service refers to any © 2019 |Published by Scholars Middle East Publishers, Dubai, United Arab Emirates 494
2. Syed Zahid Abbas Naqvi et al ; Saudi J Bus Manag Stud, June 2019; 4(6): 494-498 intangible act or performance which is offered by one party to another. Generally, services are offered for exchange of money or similar [11]. The concept of service quality has gained a lot of interest in marketing literature and work of Zeithaml is one of the classic one in this domain. Service value is about the excellence of services offered by an organization to its customer [12]. Customer Devotion Customer devotion program is about rewarding customer for their repeated purchase. It can be in the form of free merchandize, points system, or special sales coupons which can be redeemed by the customer [13]. Mostly, customer devotion program are based on customer registration with the firm and recording sales made by that customer over period of time. Organizations such as airline, or restaurants offers customer reward for their repeated purchase [14]. Study of the Objectives  To estimate the level of service quality at the Banking sector.    To inspect the customer pleasure at the Banking sector. To observe the banking devotion with the customer at banking sector. To find out the difficulties faced by customers at the banking sector. RESEARCH METHODOLOGY Study Area Banks have always been playing role in bringing out a country from despair with its monetary and fiscal tools for example taxation, interest rate etc., Therefore, the banks of Pakistan as a whole have been taken as a study area [14]. Sampled Population I collected information from the people of Rawalpindi Saddar. The respondents were belonging to different areas of Rawalpindi Saddar. Inquiry of Method The questionnaire method is used through simple random sampling to meet the need of my survey the questionnaire has been given to each person and they filled it in a proper manner. Sample Size For my survey, I take the size of 30 from different individuals of Rawalpindi Saddar. The Study of Duration The study continued for approximately six months where a planning for review, data collection and report had been framed. Study of the Limitations There were many limitations of the study such as time was short. Due to the shortage of time researcher had to shorten the sample size and research area. It was hard to collect data from the Islamic banking customers as it was only possible in the Islamic banks and customers were not much willing to give information because of time shortage or because of the bank where it does not look good to be interviewed [15]. DATA ANALYSIS Data collected through the above material instrument were tabulated; analyzed and interrupted. The analysis was done through SPSS by using. Descriptive Analysis Target Population In our survey, our target population is different Banks of Rawalpindi Saddar. Table-1: Gender Male Female Total Frequency 21 9 30 Percent 70.0 30.0 100.0 Fig-1: Gender © 2019 |Published by Scholars Middle East Publishers, Dubai, United Arab Emirates 495
3. Syed Zahid Abbas Naqvi et al ; Saudi J Bus Manag Stud, June 2019; 4(6): 494-498 The above table and figure shows the gender distribution of the respondents. According to the results, 21(70%) out of 30 are male and 9(30%) out of 30 respondents are female. Table-2: Age of respondent Frequency up to 20 years 1 between 20 to 30 years 20 above 30 years 9 Total 30 Percent 3.3 66.7 30.0 100.0 Fig-2: Age The above table and figure show the distribution of the age of respondents the results show that the age of respondents up to 20 years is 1(3.3%), the age of respondents between 20 years and 30 years are 20(66.7%) and age above 30 years is 7(30%) [16]. Table-3: Occupation of Respondent Frequency Percent government job 8 26.7 private job 12 40.0 Student 9 30.0 housewife 1 3.3 Total 30 100.0 Fig-3: Occupation © 2019 |Published by Scholars Middle East Publishers, Dubai, United Arab Emirates 496
4. Syed Zahid Abbas Naqvi et al ; Saudi J Bus Manag Stud, June 2019; 4(6): 494-498 The above table and figure show the distribution of occupation of respondents. According to results the respondents which have government job are 8(26.7%), private job respondents are 12(40%), students are 9(30%) and housewife is 1(3.3%). Table-4: Qualification Frequency Percent Metric 1 3.3 Fsc,b.com 3 10.0 Ba/BSc 12 40.0 MSc/MBA 14 46.7 Total 30 100.0 Fig-4: Qualification The above table and figure show the qualification distribution of respondents .the results shows that the qualification of respondents up to metric is 1(3.3%), FSc is 3(10%), BSc are 12(40%) and respondents which have master level qualification are 14(46%). CONCLUSION The study was conducted on the service value, customer pleasure, and devotion in the banking sector. After the completion of the study, the following conclusion based on expressive statistics can be deducted. From the result of the present day, we found that the majority of the respondents were male, out of 30 respondents 21 (70%) are male and 9(30%) respondents are female. Most of the respondents have an age between 20 to 30 years which are 20(67%) out of 30 samples. the occupation of the respondents was different in which most of the respondents belong to the private job which is 12 (40%) out of total samples. The qualifications of most of the respondents have Master or MBA level education which are 12 (46%) out of total respondents. We also find out that different respondents have accounts in different banks of Rawalpindi saddar and most of the respondents belong to the conventional type of bank which is 21 (70%) out of total samples. Most of the respondents have current account 24 (80%). The respondents also suggest that the bank does not charge unnecessarily charges. We also concluded that the ATM facility is more available on banks than other facilities in banks and the respondents said that the particular bank caters all our banking needs. One of the basic objectives of our study was to find out the pleasure level of a customer on banking networking. We concluded that 25(80%) of respondents out of 30 were satisfied from the banking networking. We also concluded that the foremost problem to the customer from the banking side was ATM related problems. Most of the respondents said that the wide branch networking of banks comes first in our minds related to their bank, in which they have an account. We concluded that the banking services of particular banks were very good which is 15 (50%) of the total sample. Most of the respondents 16(53%) out of 30, visit bank 1 to 5 times in a month. We also concluded that most of the respondents trust completely on online banking security services. Human contact is also very important for banking relations. We concluded that the main difficult related to not visit the particular bank branch was waiting in banks branch and also distance from the branch from home is the main problem of not giving to banks. We © 2019 |Published by Scholars Middle East Publishers, Dubai, United Arab Emirates 497
5. Syed Zahid Abbas Naqvi et al ; Saudi J Bus Manag Stud, June 2019; 4(6): 494-498 also concluded that the personal information in banks was preserved in a particular bank. In the last, we concluded that most of respondents 26 (76.6%) out of 30 are satisfy from the bank policies for the betterment of customer services. 15. 16. REFERENCES 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. Anderson, E. W., & Sullivan, M. W. (1993). The antecedents and consequences of customer satisfaction for firms. Marketing science, 12(2), 125-143. Angur, M. G., Nataraajan, R., & Jahera Jr, J. S. (1999). Service quality in the banking industry: an assessment in a developing economy. International journal of bank marketing, 17(3), 116-125. Anthanassopoulos, A. G. S., & Sathakopoulos, V. (2001). Behavioural responses to customer. Anton, J. (1997). Customer relationship management: making hard decisions with soft numbers. Journal of Leisure Research, 29(3), 355. Bearden, W. O., & Teel, J. E. (1983). Selected determinants of consumer satisfaction and complaint reports. Journal of marketing Research, 20(1), 21-28. Athanassopoulos, A., Gounaris, S., & Stathakopoulos, V. (2001). Behavioural responses to customer satisfaction: an empirical study. European journal of marketing, 35(5/6), 687-707. Berry, L. L. (1995). Relationship marketing of services—growing interest, emerging perspectives. Journal of the Academy of marketing science, 23(4), 236-245. Bloemer, J., & De Ruyter, K. (1998). On the relationship between store image, store satisfaction and store loyalty. European Journal of marketing, 32(5/6), 499-513. Bloemer, J., De Ruyter, K. O., & Wetzels, M. (1999). Linking perceived service quality and service loyalty: a multi-dimensional perspective. European journal of marketing, 33(11/12), 1082-1106. Bontis, N., Booker, L. D., & Serenko, A. (2007). The mediating effect of organizational reputation on customer loyalty and service recommendation in the banking industry. Management decision, 45(9), 1426-1445. Johnson, M. D., & Fornell, C. (1991). A framework for comparing customer satisfaction across individuals and product categories. Journal of economic psychology, 12(2), 267-286. Jumaev, M., & Hanaysha, J. R. (2012). Impact of relationship marketing on customer loyalty in the banking sector. Far East Journal of Psychology and Business, 6(4), 36-55. Juran, J. M., & Gryna, F. M. (1988). Juran’s Quality Control Handbook. McGrawHill. New York, 24-6. Kheng, L. L., Mahamad, O., & Ramayah, T. (2010). The impact of service quality on customer loyalty: A study of banks in Penang, Malaysia. International journal of marketing studies, 2(2), 57-66 Kotler, P., & Keller, K. L. (2006). Marketing Management, Upper Saddle River. New Yersey. Shanka, M. S. (2012). Bank service quality, customer satisfaction and loyalty in Ethiopian banking sector. Journal of Business Administration and Management Sciences Research, 1(1), 1-9. © 2019 |Published by Scholars Middle East Publishers, Dubai, United Arab Emirates 498