Measuring Customer’s Satisfaction using SERVQUAL Model: A Study on Eastern Bank Limited

Md. Shajedul Islam and Md. Ahsan Ahamed
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Md. Shajedul Islam: Department of Business Studies, North Bengal International University, Rajshahi, Bangladesh.
Md. Ahsan Ahamed: Department of Business Studies, North Bengal International University, Rajshahi, Bangladesh.

International Journal of Science and Business, 2023, vol. 20, issue 1, 23-33

Abstract: Customer satisfaction is greatly influenced by service quality. The success of any commercial bank largely depends on satisfied customers. This study seeks to explore the service quality provided by Eastern Bank Limited and measure customer satisfaction using the SERVQUAL model. Mixed methods were used for the study. In this study, both primary and secondary data were used. A questionnaire was used to collect primary data. Questionnaire was prepared using SERVEQUAL instrument. Data was collected from 350 customers of Eastern Bank Limited, Rajshahi Branch through questionnaire. The survey revealed that customers’ perceptions of the quality of service provided by Eastern Bank Limited did not meet their expectations. The gap score (mean) identified for service perception and expectations were empathy (-1.17), responsiveness (-1.13) and reliability (-0.84) while the smallest mean gaps were found for assurance (-0.57) and tangibles (-0.51). These negative values indicate that the bank's perceived level of service quality is lower than the expected level. The total mean gap in this survey was -0.85, with the consumer anticipation score at 4.53 and the perception score at 3.68. This shows a discrepancy between expected and perceived service quality across all service quality parameters. This gap score shows that the bank is failing to satisfy customer expectations, despite the fact that the client has high expectations of the bank. Eastern Bank Limited must take suitable actions to improve all elements of service quality, including tangibles, reliability, responsiveness, assurance, and empathy, in order to bridge the gap between customer expectations and perceptions. As a consequence, in order to boost customer satisfaction, Eastern Bank Limited should focus more on enhancing service quality.

Keywords: Customer satisfaction; Eastern Bank Limited; service quality; SERVQUAL Model; perceptions; expectations. (search for similar items in EconPapers)
Date: 2023
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