How Satisfied are our Bank Customers? An Analysis of Performance of Banks in an IPA Framework

Debasis Bhattacharya; Shuvendu Dey

Volume : IV, Issue : II, February - 2015

How Satisfied are our Bank Customers? An Analysis of Performance of Banks in an IPA Framework

Debasis Bhattacharya, Shuvendu Dey

Abstract :

Importance-Performance Analysis (IPA) is a much uncomplicated but exceptionally useful technique that facilitate the management of an organization to assess and categorize the key strengths and weaknesses of success features of any industry operating in the service sector. In this paper the authors have made an attempt to compare and contrast the performances of both the private and public sector banks (PSB) in providing desired services to its customer by improving the service quality which is essential for retaining satisfied customers. The authors have identified through a series of focus group interviews a list of 11 attributes that are considered most important by the respondents. Responses were gathered from 166 usable questionnaires. The importance-performance grid shows that the performances of Banks in both the sectors differ to a considerable extent as revealed by the IPA grid. The results of the study reveal that there is enough scope to enhance the quality of services provided to the customers by initiating appropriate internal marketing strategies.