An analysis of the factors influencing customers’ bank selection in Bangladesh

It is increasingly being recognised that identifying and evaluating customer’s banking behaviour has a strong effect on marketing success. However, there is a paucity of literature and empirical research on bank selection criteria in Bangladesh. Research data can potentially improve a bank’s performance. This research aims to contribute to the academic body of knowledge and better understand the managerial implications of customers’ bank selection criteria in Bangladesh. In order to fulfil this objective, this research developed a theoretical framework of bank selection criteria which has been tested on retail customers by integrating both the existing and potential customers. The theoretical framework is based on constructs documented in the consumer behaviour, service quality and services marketing literature. The results of this study suggest that retail customers’ bank selection could be better explained by the proposed theoretical framework. Bank selection is in fact a multidimensional construct as the selection of a bank is often related to purchasing a particular banking product or service which has a significant effect on the different dimensions of bank selection a customer may have. Banks need to integrate many criteria in their marketing strategies in order to be considered the optimal provider of financial goods and services. In general, banks would benefit from adopting two different marketing strategies in terms of segmenting, targeting and positioning: one for attracting potential customers and then a different strategy for retaining existing customers, as this research has identified significant differences between potential and existing customers’ bank selection processes

Name dc:type.qualificationname

dba

Level dc:type.qualificationlevel

doctoral

Grantor dc:publisher.institution

University of Wales Trinity Saint David

Year dc:date.issued

2017

Author dc:creator

• Das, Mihir Kumar

• HG Cyllid

Dc Identifier Grantnumber

UWTSD

OAI identifier oai:identifier

oai:repository.uwtsd.ac.uk:810