Customer satisfaction and related behavior of bank customer: |(a field study among the teaching staff of Boğaziçi University)

Abstract

In this study, satisfaction and related. aspects of perception, attitude, Word-of-Mouth Communication (WOMC), and behavioral actions of retail bank customers among teaching staff at Boğaziçi University in Istanbul were investigated. A quota sample of 152 out of 337 teaching staff was taken. Tow hundred-two structured-disguised questionnaires were distributed and gathered personally to collect the informatio Testing for validity and reliability of questionnaire and scales were considered before gathering the data. The main objectives of the study are to discover: First: The relationships between feelings of customer toward specific bank attributes, and overall customer satisfaction or dissatisfaction. Secondi- The relationship between specific customer traits, and overall customer satisfaction or dissatisfaction. Third: The relationship between customer satisfaction or dissatisfaction, and attitudes. Fourth: The relationship between attitudes and WOMC Fifth: The relationship between WOMC, and customer behavior toward the prefered bank. Sixth: The relationship between severity of problem the customer faced in dealing with his prefered bank; and hiB perceived risk, satisfaction, attitude, WOMC, and related behavior. Seventh: The most meaningful factors related to bank attributes that affect customer in choosing a bank to deposit money in and inforcing positive conversations, and actions among others. The results of the study reflect positive relationships between the above mentioned variables. However, these relationships vary in its extent. Further, the results of the study clarify the most meaningful factors that influence the individual to deposit his money in a bank and to initiate positive WOMC about that bank. It is concluded that customer satisfaction contributes to strength or weaken attitudes. It is also deducted that customer attitude is related to WOMC. In addition, it is found that customers who were more involved in receiving and transmitting positive WOMC were more likely to encourage others to invest in their banks than customers who are leas involved in these types of WOMC. Furthermore, customers who were more involved in processing positive WOMC were more likely to: (1) increase the amount they invest in their banks, and (2) encourage others to invest in their banks than customers who were less involved in processing positive WOMC. On the other hand, it is found that customers who were more involved in receiving and seeking negative WOMC were more likely to reduce the amount of money deposited in their banks than those who were less involved in receiving and seeking negative WOMC. It is also concluded from this study that customers who had severe problems with their banks were more likely to complain to managers of those banks than those customers who had no problems. The main implication of the study is that a bank's success in the long run is dependent completely on considering oustomer satisfaction as the main goal of planning, imple mentation, and control of bank services. At the end, several recommendations have been suggested for better bank services, higher customer satisfaction, more favorable attitude, and more preferable behavior toward banks. These recommendations are directed to bank managers, bank employees, customers, customers' organizations Governmental agencies, and academicians.