Customer Satisfaction Essay

2622 words - 10 pages

Module Name: research methodsModule Code:Assignment No: 1Customer Satisfaction in Commercial Banks:OMAN ARAB BANK S.O.A.GName: Sajan.SStudent No: 2012367Tutor: DR. Ekta RastogiIntroduction:One of most vital factors that govern the business is the satisfaction level of customer's from their products and services. In today's business world, companies are working more on customer focused objective because it will advantage them in competition and also in a long term basis. The business organisations must always be up to the level of the customer's expectations and also must be ready to accept the complaints and suggestions given by the customers. There must always be a healthy relationship between the business and its customers.Especially, when it comes to banking sector, customer satisfaction plays a great role in the growth and fall of a bank. If a bank is always providing good services to its customers, the number of customers will grow and also people will be interested to do more transaction in the bank. And if, poor services are provided, then the bank loses its customers.The customers always move on with the technology, therefore a bank with more technological facilities are a first priority to the customers. Nowadays, people do shopping by sitting in their own houses and they use e-banking services. Where the banks provide SMS alerts and e-bank statements where the customer can check his balances. After the introduction of the tablets and smartphones, the people need application on these electronic devices where they can do banking or avail shopping facilities. For example: booking movie tickets, paying off electricity and mobile bills, etc.This research is carried out to analysis the customer satisfaction levels in the OMAN ARAB BANK (OAB). The OAB is one of the most respected banks in Oman. It offers wide-ranging options of banking products and services to help their both individual and corporate customers. The services and products offered by the OAB are:investment and retail banking; and;trade, corporate and project financesThe OAB won the prestigious Award for quality performance and customer satisfaction during the year of 2013. The Award was awarded by the Platinum Technology for Quality. This award is given to those companies for their accomplishment in quality, technology & innovation.Literature review:The business in the current world has a competitive environment. The services that are concerned with customers must be offered by the companies and satisfaction of the customers represents a quality approach in the business world.According to the researchers Patterson, Lovelock and Walker (2001), points out that the individual's sensation of happiness felt and also disappointment which are a result of the comparison between the supposed performances of a product with relation to the customer's expectation. On this definition, the term customer satisfaction can explained as an outcome of intellectual and sentimental evaluation...

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