Perspectives on Service Quality Dimensions and Customer Satisfaction in the Nigerian Banking Industry

Abstract

Customer satisfaction is a critical success factor in the service industry. It is an essential marketing concept that is critical in different sectors in the manufacturing and service industries. Customer satisfaction is a measure of how products offered by a company meet or exceed customer expectations. Focusing on and satisfying the needs of customers are very important for the survival and continued existence of service firms especially banking services. The purpose of this study is to examine the extant literature on the relationship between service quality dimensions and customer satisfaction as it applies to the Nigerian banking industry. In order to provide a theoretical footing, this study adopted the Expectation-confirmation theory (ECT). The basis for this adoption is that the Expectation-confirmation theory (ECT) explains post-purchase or post-adoption satisfaction as a function of expectations, perceived performance, and disconfirmation of beliefs. The study clearly shows that service quality dimensions play an important role as a driver for higher customer satisfaction level. Therefore, managers in the banking industry are advised to give more attention to the five (5) service quality dimensions namely: tangibility, reliability, responsiveness, assurance and empathy. These five service quality dimensions can be major influencers of customer satisfaction in the banking industry.