Comparative Analysis of Results of Online and Offline Customer Satisfaction & Loyalty Surveys in Banking Services in Montenegro

Abstract

Abstract:The logic that customer satisfaction is the starting point of marketing and business activities is based on the assumption that customer satisfaction leads to customer loyalty, keeping in mind all of the positive effects that customer loyalty has on business success of an organization. Because of this, marketing and management theory and practice dedicate particular attention to the concepts of customer satisfaction and loyalty. In this paper we will use the surveys of customers of banking services not only to show the levels of their satisfaction and loyalty, but also to make a comparative analysis of data obtained through online and offline research. This approach was made possible because the research was carried out on a sample which was divided in two groups. All of the participants answered the questions from a unique questionnaire, however, one group took the survey via the Internet (online) while data from the other group of participants was collected in the field by using printed questionnaires (offline). The findings of the comparative analysis of online and offline survey results are presented in the final part of the paper.

Modified Servqual Model and Effects of Customer Attitude and Technology on Customer Satisfaction in Banking Industry: Mediation, Moderation and Conditional Process Analysis

“…The service quality concept is all encompassing, which covers both the outcomes of service and the execution process of services. According to Jovović et al (2017), Bourne (2016), Lehtinen, U. and Lehtinen, J. R. (1991), the evaluation of customer regarding the result of service process is the service outcome. However, the end product of the execution is transferred to the customer is known as the service delivery (Parasuraman et al 1988).…”

“…According to Parasuraman et al (1985Parasuraman et al ( , 1988, the reliability is the most pivotal component in conservative services, and includes the correct order execution in the true spirit of its placement, correct records; correct quote; accurate billing; results are more authenticated than directive; and provide the promised services. Reliability is also considered more vital factor for banking services (Jovović et al 2017;Yang et al 2004). Parasuraman et al (1985) in their research studied the SERVQUAL model by incorporating the data collected from four identified companies, which included banks, long distance phone companies, credit card companies, and company's maintenance services.…”

“…Thus, the customers instead of bothering physical visit to the bank; can have access to banking service of their choice whenever and wherever it is needed (Oskooii, Albonaiemi 2017). According to Jovović et al (2017) and Dean (2002), the effective and efficient online banking service has been studied as a strong determinant of service quality dimension that provides ease of services and uplifting the level of customer satisfaction and loyalty. This quality dimension has been examined in several research studies and concluded the higher level of customer satisfaction (Rout, Samarpita 2017;Abdullah, Kassim 2009).…”

“…The digitalization has significantly influenced the banking sector across the globe. Today banks are linked globally by practicing the technological compatible process of business (Jovović et al 2017;Angur et al 1999). By using technology, the wider range of banking activities can be performed, and it can help the banking industry to stay competitive in the financial market.…”

Relationship between e-banking service quality based on the e-SERVQUAL model and customer satisfaction: a study in a Peruvian bank

“…According to Jovović et al (2017), who conducted research on the renewal of the electronic banking platform in a banking entity, a staged procedure that took into account user needs research, costs, design considerations, and performance testing was required for the electronic implementation. Consumers' willingness to utilize electronic banking as a result of this process led to an increase in the visualization of banking, indicating that users value innovation, renewal, and investment in electronic banking.…”