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Retail Banking Literature Review

Consumers face complexity in choosing between bank and non-bank institutions based on their economic, social and psychological needs. Modern consumers make decisions based on comparing offers from different banks. As a result, marketing banking services has become challenging for bankers, who must provide better quality services to satisfy consumers and achieve a competitive advantage through service quality that is difficult to sustain.

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Ash Jerk
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1K views1 page

Retail Banking Literature Review

Consumers face complexity in choosing between bank and non-bank institutions based on their economic, social and psychological needs. Modern consumers make decisions based on comparing offers from different banks. As a result, marketing banking services has become challenging for bankers, who must provide better quality services to satisfy consumers and achieve a competitive advantage through service quality that is difficult to sustain.

Uploaded by

Ash Jerk
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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Consumers who have an increased need for the use of retail banking services and facilities, are faced

with a great deal more complexity, not only in deciding whether to go for bank or non-bank
institutions but also for which establishment is best suited to meet their economic, social and
psychological needs. The growing awerness of modern consumers have made their decision-making
process one that depends on what the bank can offer relative to those that are being offered by
other banks. As a result the marketing of banking services has become an uphill task for bankers who
are forced into the efforts of providing better quality services that satisfy the needs of the modern
consumers. They have to struggle not only to achieve this competitive advantage of service quality
but also to sustain this advantage as quality is regarded as an important component in the field of
service marketing (parasuraman, zeithaml & berry 1985).

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