GAP ANALYZING IN SERVICE OFFERED IN
RETAIL BANKING WITH RESPECT TO UBI
IN BARDAMAN AREA
ABSTRACT
The project gap analyzing in service offered in retail banking with
respect to ubi in bardaman area aims to assimilate data about
the various aspects of Retail banking services, to analyze the
perceptions of the management and the customers regarding the
services offered in Retail banking and to find out whether any
gaps do exist between the services offered and the customer
expectations.
difference
By employing Gap analysis in assessing the
between
the
expected
service
quality
and
the
perceived service quality of the customers of Indian Bank, this
project on the performance of united Bank of india . Opinion of
the
customers
over
the
service
quality
is
assessed
by
implementing most successful instrument SERVQUAL developed
by Parasuram et al(1994)v Today a situation has come for very
service sector firms to retain the existing customers and attract
new customers continuously, this situation may happen only if the
banks satisfy their customers. We have limited our Service
Category to the core services in Retail Banking and a few
specialized services.
The report is a mixture of Secondary and Primary data, with
Questionnaires being our major instrument to collect primary
data.
INTRODUCTION
Todays finicky banking customers will settle for nothing less. The customer has
come to realize somewhat belatedly that he is the king. The customers choice of
one entity over another as his principal bank is determined by considerations of
service quality rather than any other factor. He wants competitive loan rates but at
the same time also wants his loan or credit card application processed in double
quick time. He insists that he be promptly informed of changes in deposit rates and
service charges and he bristles with customary rage if his bank is slow to redress
any grievance he may have. He cherishes the convenience of impersonal net
banking but during his occasional visits to the branch he also wants the comfort of
personalized human interactions and facilities that make his banking experience
pleasurable. In short he wants financial house that will more than just clear his
cheque and updates his passbook: he wants a bank that cares and provides great
services.
Marketing scope in banking sector should be considered under the service
marketing framework. Bank marketing does not only include service selling of the
bank but also is the function which gets personality and image for bank on its
customers mind. On the other hand, financial marketing is the function which
relates uncongenitalies, differences and non similar applications between financial
institutions and judgment standards of their customers. This aspect is more vital for
all banking institutions for their survival and growth. Promoting the business by
providing value to the customers is more important. This ideology can be true when
the culture of quality is consciously implemented in all dimensions of products and
services.
The SERVQUAL scale is a survey instrument which claims to measure the service
quality in any type of service organization on five dimensions which are tangibles,
reliability, assurance, responsiveness and empathy (Parasuraman et al., 1988). 113
SERVQUAL scale was developed by Parasuraman et al. in 1985, and refined in 1988,
1991 and 1994 as discussed completely before.
Realizing the significance of service quality for survival and success of service
companies and the need for a generic instrument which would be used to measure
service quality across a broad range of service categories, Parasuraman. (1985)
began a research program to develop such a tool. This research tries to make
understand few points they are:
1. The difference between Customer expectation of service quality and perceived
service quality by the customers.
2. Whether Customization of SERVQUAL may help to understand the quality in depth
or not?
3. Whether further research is necessary to understand the opinion of the
customers over the improved performance or not?
SCOPE OF THE STUDY
Objectives of the study:
There has been an honest attempt to
Explore the services and products offered by the banks to individual
customers..
Understand the perception of the customers with respect to services offered
by banks.
Generate additional information to analyze the gap between the customer
perceptions and actual service provided by the services offered by banks.
Conclude and provide suggestion required to reduce the gap and increase the
customer base of banks.
RESEARCH METHODOLOGY
The project aims to assimilate data about the various aspects of Retail banking
services, to analyze the perceptions of the management and the customers
regarding the services offered in Retail banking and to find out whether any gaps
do exist between the services offered and the customer expectations.
Data collection Method:
Secondary Data:In order to have a proper understanding of the sector of Retail Banking an in depth
study was done from the various books, magazines, articles written on the subject.
A lot of data has also been collected from these and also from websites on the topic
as also from the websites of the six banks.
Primary Data:
The primary data was collected by means of a survey. Questionnaires were prepared
and customers of the banks were approached to fill up these questionnaires. The
filled up information will be later analyzed to obtain the required information.
Data Collection Source:
The study required the understanding of the concept of Retail Banking and of the
various products associated with it. The method used was that of secondary
research and primary research. Under secondary research a detailed study was
done from the various books, journals, magazines written on the subject of banking
ad retail banking to obtain the required information and to have a precise idea of
the services of retail banking.
Research process:
1.
2.
3.
4.
5.
6.
7.
Formulating the Research Problem
Extensive Literature Review
Developing the objectives
Preparing the Research Design including Sample Design
Collecting the Data
Analysis of Data
Generalization and Interpretation
8. Preparation of the Report or Presentation of Results-Formal writes ups of
Conclusions reached.
