A review of customer satisfaction towards service quality of banking sector

Service process performance of an organization should be measured continuously to achieve competitive advantage and this is possible through providing excellent service by any organization. The quality of the products or the quality of customer service determines the degree of customer satisfaction. The customer satisfaction not only means, satisfying the customers but also customer retention in case of service failure. The organization should solve the complaints through various service recovery strategies. It is mandatory to identify the impact of service failure and customer feedback for the survival, success and prosperity of an organization. The real victory of an organization is based on the degree of loyalty of the customers. This paper attempts to summarize the results of literature review on customer satisfaction towards the services of a bank from five different perspectives namely, service encounters, waiting time of the customer to get the service, role of intermediaries, quality of service provid ed and customer complaints towards the bank. Attraction, retention and enhancement of the customer relationship are essential to maintain, delighted and committed customers, who form the basis for the sustainable competitive position of the bank. This study can also be extended to tourism and hospitality, insurance companies, hospitals, transport corporations, railways, airlines, telecommunications, libraries and other service sectors to assess the degree of quality of service offered by them.