Service Quality and Customer Satisfaction in Pakistan’s Banking Sector: An Empirical Assessment of SERVQUAL Dimensions

Abstract

The purpose of this research is study of Impact of Service quality on Customer Satisfaction in Pakistani Banking Sector. Service quality objectives in satisfying and retaining a customer have described which is very important for the endurance of Banking/organizations in today competitive environment. Satisfying customers and surviving in today's fast moving Banking Industry requires: a brain to understand, learn, and analyze customers; a heart to pump and flow out the customer-oriented blood throughout the organizational arteries; and hands and feet to deliver the services to the customers. The customer is the one who pays, is the source of revenue, and is the reason for being. In current era, customers are very essential factors in banking industry management with the power to change their short-term and long-term polices strategies and setting objectives and goals. Therefore adequate knowledge of environment, expectations of customers and their desires are very important to discover the best solution for facing un-expected behaviors of customers and then perform in such a way to transform the mind of customers in the direction of Bank’ profit. It’s an art to take up customers by using different techniques such as CRM in order to manipulate companies’ policies a head of them. The customer is king has long been the cry of those in business. Customer Relationship Management (CRM) is a business philosophy which provides a vision for the way your company wants to deal with your customers. To carry that vision, it needs a CRM strategy which gives an outline to sales, marketing, customer service and data analysis activities. For most Banks, the aim of a Service Quality is to take advantage of profitable relationships with customers by mounting the value of the relationship for both the Banker and the customer. From the Bank’s perspective, it is clear that not all customers are created equal.