BANK SELECTION DECISION: FACTORS INFLUENCING THE CHOICE OF BANKING SERVICES

TABLE OF CONTENTS
Declaration
Acknowledgment
Statement of Certification
Dedication
Table of Contents
List of Tables
List of Figures
List of Acronyms
Abstract

CHAPTER ONE: INTRODUCTION
1.1 Background of the study
1.2 Statement of the Problem
1.3 Objectives of the Study
1.4 Specific Research Questions
1.5 Significance of the Study
1.6 Scope and Limitations of the Study
1.7 Organization of the Paper

CHAPTER TWO: REVIEW OF LITERATURES
2.1 Definition of Terms
2.2 Customers Behaviour
2.2.1 Steps in the Customer Decision Process
2.2.2 Influences on Customers Decision
2.3 Customers Satisfaction
2.4 Bank Selection Criteria
2.5 Gender Based Difference in Bank Choice

CHAPTER THREE: RESEARCH DESIGN AND METHODOLOGY
3.1 Source of Data and Sampling
3.2 Research Design
3.3 Data Collection Method
3.4 Data Analysis and Interpretation

CHAPTER FOUR: DATA ANALYSIS AND DISCUSSIONS
4.1 Descriptive Analysis
4.1.1 Customers Profile
4.1.2 Banking Behaviour of Customers
4.1.3 Customers Usage of Banking Services
4.1.4 Customers Service Needs
4.1.5 Customers Satisfaction with Banking Services
4.1.6 Intention of Customers to Continue Dealing with their Customer Banks
4.2 Factor Analysis
4.3 Factor Formulation
4.4 Explanation of Bank Selection Factors
4.5 Reliability Test
4.6 Ranking of Importance of Bank Selection Criteria
4.7 Gender Based Description of Factors
4.8 Gender Based Ranking of Importance
4.9 Ranking of Importance Based on Occupation and their Explanation

CHAPTER FIVE: CONCLUSION AND IMPLICATIONS
5.1 Conclusion
5.2 Recommendations
REFERENCES

APPENDICES
Appendix A: Survey Questionnaire (Amharic Version)
Appendix B: Survey Questionnaire (English Version)
Appendix C: Statistical Results of Factor Analysis


ABSTRACT
To plan a suitable marketing strategy to keep existing customers and for attracting new customers, commercial banks need to identify the criteria on which customers determine their bank selection decision. Hence, the purpose of this study is to examine the significance of bank selection criteria and how customers rank the factors based on their importance level to patronize banks and banking services. It also intended to present an analysis of gender differences in the relative importance of choice criteria in respect of selecting a bank and to elicit the opinion of bank customers on any extra services needed to be offered by banks. Both quantitative and qualitative methodology, using responses given by 201 customers in Addis Ababa city from different occupation (students, employees and businessmen), is employed in the analysis. A non-probability convenience sampling was used and data was factor analyzed to reduce the number of total variables in to manageable way.

Finding from this study reveal that the most two important bank selection criteria for customers are “convenience” and “service provision” for the entire customers while it is “bank’s image” as the second most important factor for male customers. On the other hand, the least two important factors of bank selection for customers are “financial benefits/ technology”, “reputation” and “promotion strategy” whereas “attractiveness” for female customers. Given this findings, it is recommended that hierarchical information integration may be a potentially useful method for bank managers to study complex decision making problems such as bank choice.


CHAPTER ONE
INTRODUCTION
1.1 Background of the Study
The banking industry has been characterized by increasing competition since the early 1980s (Blankson et al., 2007). This has been the result of a number of interrelated factors such as competition and deregulation that have revolutionized the distribution of many financial services. In other words, an increased competition resulting from a decade of deregulation of the financial services industry has meant that banks find themselves faced with the task of differentiating their organizations and their offerings as a means of attracting customers (Blankson et al., 2007).

The concern of how customers choose banks has been given considerable attention by researchers (for example: Blankson et al., 2007; Mokhlis, 2009; Mylonakis, 2007; Awang, 1997; Boyd et al., 1994 and Almossawi, 2001). Exploring such information will assist banks to recognize the appropriate marketing strategies needed to attract new customers and retain existing ones (Kaynak and Kucukemiroglu, 1992). With growing competitiveness in the banking industry (Grady and Spencer, 1990), and similarity of services offered by banks (Holstius and Kaynak, 1995), it has become increasingly important that banks identify the factors that determine the basis upon which customers choose between providers of financial services. The relevant literature indicates that a great deal of research effort has been expended to investigate bank selection criteria for broad categories of customers (Yue and Tom,.......

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Item Type: Postgraduate Material  |  Attribute: 90 pages  |  Chapters: 1-5
Format: MS Word  |  Price: N3,000  |  Delivery: Within 30Mins.
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