Study on Retail Banking Services - MBA Marketing
Study on Retail Banking Services - MBA Marketing
Abstract
Face-to-face interaction and constant product and pricing differentiation characterize the retail banking sector in South Africa to a large extent. For a bank to differentiate itself from other banks in the banking industry, it must offer superior service quality. The SERVQUAL model was adapted for the banking industry in the study. The study employed a probability sampling technique. MBA students' perceptions of banking service quality were tested using simple random sampling.
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Introduction
Banking and financial products have been introduced to the postgraduate market, young professionals, and senior professionals that are tailored to their lifestyles and spending power. A bank's economic lifecycle views young professionals as a lucrative market segment because of the banking services available to these individuals. Banking is a customer-focused industry. Customers' perceptions and expectations of their service quality are continually monitored.
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Conclusion
All parties involved would benefit from the implementation of new and innovative ways to attract and retain MBA students. The retail banking industry's long-term viability depends on its ability to target niche markets. MBA students can be one of these niche markets, as their valuable patronage contributes to the bank's continued financial viability. Students are a profitable and crucial market to attract in order to sustain and increase the financial viability and profitability of South Africa's banking sector.
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Or call us +91 9481545735
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