Factors Important for Banks in Attracting and Retaining Customers

Demographic factors and customers’ bank choice criteria

“…The questionnaire was distributed among Polish residents who 1) 18 years old or older, 2) have a bank account, and 3) were diversified in terms of gender, age, education, occupation, place of residence, and net income. The six demographic factors chosen are the most common variables that were verified by many previous authors (Kennington et al, 1996;Devlin, 2002;Jahiruddin & Haque, 2009;Kreituss et al, 2021) In the study sample of 515 people, 58.10 percent was female and 41.90 percent was male. The age range for the study population was 18-80 years, with a median of 42 years.…”

“…Overall, the most important bank selection factor was the number of ATM booths. Kreituss et al (2021) conducted research in the Latvian banking sector analysing such factors as services, service level, costs, branches, ATMs, reputation, financial situation, recommendation, advertising, and ownership. They found that the importance of a bank's reputation and image increases with customers' age, reaching its maximum value in the demographic group over the age of 56.…”

“…Customers in banking come from a wide variety of sources, and considering how customers are attracted and retained is necessary. Over the years, Boyd et al (1994), Kennington et al (1996), Amin (2008), Devlin (2002) Narteh & Owusu-Frimpong (2011) and Kreituss et al (2021) tried to verify the differences in bank selection factors among different genders, marital status, age, education groups or people with various occupations. Very often, however, these factors were treated as additional or supplementary aspects.…”

“…There are also many studies that focus on countries with specific religions -Islam (Amin, 2008;Mansour et al, 2010;Awan & Shahzad Bukhari, 2011;Sayani & Miniaoui, 2013) or those less developed economies such as Ghana, Pakistan or India (Blankson et al, 2009;Arora and Kaur, 2019;Butt et al, 2022). However, not many studies -available in Englishwere performed in East-Central Europe (Kennington et al, 1996;Katircioglu et al, 2011;Kreituss et al, 2021). And even though all these and other past studies have substantially contributed to the existing literature on bank selection, their findings may not be applicable to other countries as a result of cultural, historical, economic, and legal differences.…”

Strategies for attracting foreign authors to a new journal

“…In analysing banking services, Kreituss et al identified five factors that should be taken into account in working out a strategic marketing activity plan, such as service quality; convenient remote banking services (online banking, telephone banking, mobile banking); the bank reputation; the bank's financial stability; and, finally, the bank's service charges [6].…”