Get the complete project »
- The Complete Research Material is averagely 80 pages long and it is in Ms Word Format, it has 1-5 Chapters.
- Major Attributes are Abstract, All Chapters, Figures, Appendix, References.
- Study Level: BTech, BSc, BEng, BA, HND, ND or NCE.
- Full Access Fee: ₦4,000
1.0 Background to the Study
This chapter introduces the phenomenon understudy. It consists of the background of the study, problem statement, objectives of the researcher in carrying out the study and the importance of the study to the organisation in which the study is conducted. The chapter finally outlines the structure of the thesis.
Consumers all over the world have become more quality conscious; hence there has been an increased customer demand for higher quality service. Service operations worldwide are affected by this new wave of quality awareness and emphasis (Lee 2004). Therefore service-based companies like the banks are compelled to provide excellent services to their customers in order to have sustainable competitive advantage, especially in the current trend of trade liberalisation and globalisation.
High patronage of services depends on the satisfaction customers derived from a service. Sales are directly related to customer satisfaction; sales increase requires improvement in the quality of service delivery to encourage continuous patronage. Generally, it is believed that services which continuously and consistently delight customers make them happy and satisfied. In such situation, they become loyal customers and will continue to demand the service which in turn will result in profit and growth of an organisation. As a consequence,
there is a shift in quality focus from the original producers‟ under different names-based suchquality”as“service(Garvin, 1 subjective quality”in Summers(Shewhart,2005),1931andcited“ope quality” (Steenkamp, 1990)basequality, recognizingtowardsquality asthea cus
subjective matter (Summers, 2005). Subjective quality has received much preference and attention, especially in free-market economies (Kondo, 2000), so as to win customers.
According to Saravan and Rao (2007), service quality remains critical in the service industries, as businesses strive to maintain a competitive advantage in the marketplace and achieving customer satisfaction. The financial services, particularly banks, compete in the marketplace with generally undifferentiated products; therefore service quality becomes a primary competitive weapon (Stafford, 1996).Literature has proven that providing quality service delivery to customers retains them, attracts new ones, enhances corporate image, lead to positive referral by word of mouth, and above all guarantees survival and profitability (Negi, 2009; Ladhari, 2009).
Despite the criticality of service quality to businesses, measuring service quality poses difficulties to service providers, because of the unique characteristics of services: intangibility, heterogeneity, inseparability and perishability (Bateson, 1985;Douglas & Connor, 2003).In view of this, services require a distinct frameworkfor quality explication and measurement. Among the prominent frameworks, SERVQUAL model developed by Parasuraman et al. (1985; 1988) is most preferred and widely used model for measuring service quality in the service industry.
1.1 Statement of Problem
The trade liberalisation and globalisation have resulted in keen competition among firms and industries. The Ghanaian banking industry is not exempted especially with the proliferation of banking and financial institutions in the country. With the availability of goods and services, organisations need proactive strategies, the absence of which can lead
to a steady decline of market share (Collier, 2006). Researchers recommend making
service quality a cornerstone of an organisation‟s in marketingordertoensure st
successful business (Asubonteng et al., 1996; Collier, 1991).
Customers have become knowledgeable and this has gradually led to a greater degree of
“consumer sovereignty”&Galloway, 1994),(Blanchardwhenmakingchoice.
Customers‟ choice of a bank over another i interest rates, quality of service,ervicedelive quality is seen as one of the key factor and thus has received considerable attention by organisations. Stafford (1996) opines that the financial services, particularly banks,
compete in the marketplace with generally undifferentiated products, therefore service quality becomes a primary competitive weapon.The banking industry is highly competitive; banks do not only compete among each other; but also with non-banks and other financial institutions both local and foreign (Kaynak and Kucukemiroglu, 1992; Hull, 2002).
In the quest to improve its services, retain and attract customers, Merchant bank has introduced innovative measures like extended business hours, ATM network, internet banking, improved banking hall facilities among others, all in the interest of enhancing customers‟ comfort.Theseefforts which aim at bringing satisfaction to the customers seem to be futile. Customers‟preferences and expectations seem not to match up with the bank‟s initiativesThereisincessantcomplaint. of long waiting at the banking hall, failure of network system and Automatic Teller Machines; and defection to other banks.
The emerging situation calls for the assessment of service quality in relation to customer expectation and service performance to help Merchant Bank to improve its service quality and enhance satisfaction so as to ensure customer retention.
1.2 Objectives of the study
The main objective of this study is to assess the level of service quality delivery at
Merchant Bank Ghana Limited.
The specific objectives of the study are to:
1. Assess service quality level of Merchant Bank using SERVQUAL
2. Assess customer satisfaction level of the services provided by Merchant Bank.
3. Ascertain customer expectations of banking services to ensure customer retention.
You either get what you want or your money back. T&C Apply
You can find more project topics easily, just search
SIMILAR BUSINESS ADMINISTRATION FINAL YEAR PROJECT RESEARCH TOPICS
» CHAPTER ONE INTRODUCTION 1.1 Background to the Study Goals indicate what an organization wants to achieve, strategic planning is a game plan for getti...Continue Reading »
2. IMPACT OF BANK-SPECIFIC FACTORS AND MACROECONOMIC VARIABLES ON NONPERFORMING LOANS OF LISTED DEPOSIT MONEY BANKS IN NIGERIA» CHAPTER ONE INTRODUCTION 1.1 Background to the Study The financial sector plays crucial roles in economic growth and development by virtue of its fina...Continue Reading »
» TABLE OF CONTENTSList of Tables .........................................................................................................................Continue Reading »
4. IMPACT OF ADVERTISING ON BUSINESS GROWTH AND DEVELOPMENT IN TARABA STATE (A CASE STUDY OF DIAMOND BANK JALINGO)» CHAPTER ONE INTRODUCTION 1.1 BACKGROUND OF THE STUDY Business enterprises are generally thought to play a crucial role in driving economic growth in b...Continue Reading »
» CHAPTER ONE 1.0 INTRODUCTION All over the world, Nigeria inclusive, export promotion policies as an outward oriented development strategy have been ar...Continue Reading »
» ABSTRACT ‘The world is becoming a global village’, so the adage goes. It is a fact that the world has truly become a global village. Globa...Continue Reading »
7. AN APPRAISAL OF THE IMPLEMENTATION OF NATIONAL YOUTH DEVELOPMENT POLICY IN SELECTED LOCAL GOVERNMENT AREA OF YOBE STATE FROM 2007-2014» Abstract This study examines the principles of the implementation of the National Youth Development Policy (NYDP) at the local government level in Yob...Continue Reading »
8. CREDIT AND DEBT RECOVERY IN FINANCIAL INSTITUTIONS. (A CASE STUDY OF U.I.D.C PLC, WARRI DELTA STATE)» ABSTRACT The purpose of this study is to evaluate the impact of Credit and Debt recovery Department in financial institution. It is also meant to assi...Continue Reading »
9. MEDIATING ROLE OF TRUST ON THE RELATIONSHIPS BETWEEN PRICE, SERVICE QUALITY AND CUSTOMER LOYALTY IN THE NIGERIAN TELECOMMUNICATION INDUSTRY» ...Continue Reading »
10. EFFECT OF BUSINESS ORGANIZATIONS AND MANAGERIAL EFFICIENCY ON SMALL SCALE ENTERPRISES IN NIGERIA (A CASE STUDY OF SELECTED SMEs IN OWERRI)» CHAPTER ONE INTRODUCTION 1.1 Background of the study A business organization is an individual or group of people that collaborate to achieve certain c...Continue Reading »