Banking Service Literature Review
2319 Words10 Pages
What is the impact of service quality on customer satisfaction in Pakistan banking sector.
Chapter 2
Literature Review:
In Pakistan banking sector service quality has a strong impact on customer satisfaction. This section is available in form of popular journals, magazines and different text books that contain fruitful information on different service quality dimensions as well as customer satisfaction.
Good customer satisfaction has an effect on the profitability of nearly every business. For example, when customers perceive good service, each will typically tell nine to ten people. It is estimated that nearly one half of American business is built upon this informal, “word-of-mouth” communication (Gitomer, 1998). The Customers who receive poor service will narrate their dissatisfaction to others. The cost of gaining a new customer is ten times greater than the cost of keeping a satisfied customer (Gitomer, 1998). Though Customer satisfaction is an intangible asset but it should be monitored and managed just like any physical asset.
Service Quality:
Different facts in literature ascertain that there is a significant correlation between service quality and customer satisfaction (Parasuraman, 1988) created a tool for measuring servicer quality and it is being named as SERVQUAL. It is widely used to measure the service quality. By measuring the concept of SERVQUAL it has 5 dimensions we have taken 4 out of these i.e. tangibles, reliability, assurance and
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