Customers' Satisfaction and Loyalty in the Economic Recession: The Case of a Greek Bank

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Author(s): Irene Samanta (Graduate Technological Education Institute of Piraeus, Greece)
Copyright: 2014
Pages: 19
Source title: Strategic Marketing in Fragile Economic Conditions
Source Author(s)/Editor(s): Irene Samanta (Graduate Technological Education Institute of Piraeus, Greece)
DOI: 10.4018/978-1-4666-6232-2.ch004

Keywords: Business & Management / Business Science Reference / Marketing

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Abstract

This chapter examines the main criteria that influence customer satisfaction and its effects on a case bank. The study identifies the actions that banks take into account and analyses the elements that can be improved in order to keep their customers satisfied and loyal during the economic recession. The research clarifies the satisfaction criteria, including ease of access, service provided, products and personnel, that are perceived as important in the evaluation of customer satisfaction. Quantitative research was conducted with 419 customers of a Greek bank. The results unexpectedly showed that respondents were satisfied with the bank. Competitive advantages were based mainly on quality service and personnel. Customers continue to use the bank for their transactions and to recommend new customers. The results also confirm the hypotheses that “total customer satisfaction” is related to “loyalty,” “recommendation,” and “complaints handling.” However, in general their interrelationships did not fit the linear regressions cases.

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Customers' Satisfaction and Loyalty in the Economic Recession: The Case of a Greek Bank

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