Critical Success Factors of Customers Experience in Iranian Banks and their Ranking by Using Analytic Hierarchy Process Model

Abstract

Nowadays, the importance of experiences is uncovered to any businesses especially in service offering segments. Businesses can insure success by creating optimized experiences for their customer. This article seeks to enrich the understanding of critical success factors of customer experience by providing an overview of existing CFS literature and suggesting and prioritizing the specific elements of critical success factors of customer experience in order to improve bank's services. For this purpose we conduct a survey by participation of 384 bank's customers. Analytic hierarchical process has been applied in order to determine and prioritize the critical success factors. Results suggest that from the viewpoint of customers, behavioral aspect possesses the highest priority among all the other factors and cognitive element has the second priority. Also sub-criteria comparison result indicate that sub-factors of employee, service process, speed, physical evidence, marketing mix and convenience are ranked first to sixth between other sub-factors. In addition by calculating inconsistency rate of pair-wise comparison, consistency of these factors is also acceptable.

A Qualitative Study on Bancassurance Products and Its Implementation for Efficient Customer Experience in Pakistan

“…Price is another factor that retail banking customers consider when evaluating financial products (Byers & Lederer, 2001;O'Loughlin et al, 2004). Customer experience appears to be significantly impacted by service prices, which are an important component of the marketing mix (Devlin & Gerrard, 2004;Haery & Farahmand, 2013;Mashingaidze, 2014;Suvarchala & Rao, 2018).…”