Assessment of Factors that affect Customer Retention in Punjab National Bank: Amroha Branch

Abstract

The purpose of this study is to assess the factors that affect customer retention and how customers evaluate banking services based on their important level that affect their relationship with the branch and also assess employees’ perception of customer retention. To achieve the objectives of this study, both quantitative and qualitative methodology were employed and data were collected through questionnaire and interview from sample of 352 bank customer and 8 employees of the branch. These respondents were selected using a non-probability purposive sampling method. Secondary data were collected through surveying documents of the bank, magazines, bulletins and reports. The data collected were descriptive analyzed. Findings from this study reveal that, customers were most dissatisfied with the issues dealing with factors that affect customer retention such as, services provided by the branch, speedy service of the branch, customer service of PNBs comparing with private banks, and loan policy of PNBs comparing with private Banks. And also customers were commented that complaint handling of the branch not satisfactory and suggest some additional improvements in the branch banking services other than the services currently offer. Finding of the study also indicates that employees’ of the branch were agreed that, all service provided by the branch have different problem that affect customer retention significantly loan and local transfer services. Based on the findings of the study the researcher forwards some recommendation to the branch management to widening service quality and providing good customer services to customers and to be considered seriously by PNB Amroha branch in designing its marketing strategies.

Keywords: Customer retention, Customer satisfaction, Marketing strategies, and Relationship marketing.