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1 INTRODUCTION
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2 LITERATURE REVIEW
2.1 Perceived Value
Customer perceived service has been theoretically
represented as consisting of two dimensions. By [13] distinguish a process and an outcome dimension, where as
[14] makes a distinction between functional and technical
quality. The process of functional quality refers to how
the service is delivered, while the outcome or technical
quality refers to what customers receive, the benefits of
using the service. In this automated teller machines how
money is being transacted is functional benefit, easy to
use, less time, effectiveness and efficiency over the traditional systems are the benefits that customers receive are
termed as technical benefit.
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expectations and their perceptions of the companys actions [14], [15], [24]. Most of the experts will be in a position to develop marketing strategies to provide the service when they know the expectations of service quality.
Those expectations, however, can be known before the
service is designed and serve to orient marketing strategies, and may be measured when the service is functioning and compared with the organizations actions. Moreover, when comparing perceptions with expectations, the
consumer takes determined attributes as references. This
set of items can be grouped into specific dimensions, and
their detailed study will allow companies to direct their
efforts to improve the quality perceived by consumers.
Regarding which dimensions and attributes of the service
the customer takes as a reference in the evaluation; [24]
propose a scale of five dimensionstangible elements,
reliability, response capacity, assurance, and empathy
and 22 explanatory items. Its authors defend its application to all types of services, and, thus, it represents a basic
structure that can be adapted or complemented to suit the
particular characteristics of each organization [15], [24].
However, they advise making slight modifications when
necessary to the composition of the items in order to
adapt it to a specific scenario. In this research the five
constructs are developed based on the SERVQUAL elements.
On the basis of literature review hypotheses can be
formulated as follows:
Hypothesis 1: The perceived value of Internet banking has
positive impact on customer satisfaction.
Hypothesis 2: The perceived value of Internet banking has a
positive impact on the customer loyalty.
Hypothesis 3: Service quality of Internet banking has a positive impact on the customer satisfaction.
Hypothesis 4: Service quality of Internet banking has a positive impact on Customer loyalty.
Hypothesis 5: Service Quality of Internet banking has a positively related to the perceived value of Internet Banking.
Hypothesis 6: The customer satisfaction with Internet banking has a positive effect on the customer loyalty to Internet
Banking the bank.
3 RESEARCH METHODOLOGY
Primary data were collected from current and prospective
customers of Internet banking services in India. This research was conducted through survey of Internet banking
users of Rajasthan and Uttar Pradesh in India. The respondents are users of Internet banking of leading Indian
banks and foreign banks. Predominantly the users are
State Bank of India (SBI) and Industrial Credit Investment
Corporation of India (ICICI) Internet banking users. This
is largely because of the penetration of Internet banking
of these banks. In order to collect primary research data
from consumers, a seven-point scale, self-reported questionnaire was developed to measure customer satisfaction
and loyalty on Internet banking in India.
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TABLE 1
SUMMARY OF MEAN AND STANDARD DEVIATION
Measurement Items
MIN
MAX
MEAN
SD
5.50
0.78
6.01
0.92
6.25
0.84
6.67
0.72
5.09
1.12
6.00
0.82
The purpose of this study is to identify the perceived service quality dimensions of self-service technology (Internet banking) and impact of these perceived service quality dimensions towards customer satisfaction level in Internet banking in India.
The collected data are analyzed with the use of statistical measures. The statistical package for SPSS 18.0 was
used for processing data. The descriptive statistics and
correlation measures were applied to get an understanding of how customers perceive Internet banking (IB). Table 1 gives the descriptive statistics minimum score and
maximum score opted by the respondents, average of
each item used for customer perception towards Internet
banking as level of satisfaction, and standard deviation in
each item.
It is quite evident from the results that customers indeed realized that Internet banking is very easy to use,
highly useful, and efficient and that they prefer to use and
get maximum benefits when compared to the traditional
banking method. The perceived value is considered very
high for the Internet banking service. The purpose of using self-service technologies is to standardize the services
so as to improve the service quality and satisfaction level.
This is also evident from the descriptive statistics of the
service quality components of Internet banking. The satisfaction level with the technology is also high. Moreover
the results are encouraging for the companies as very
many satisfied people would like to recommend this service to others. Their tendency to use this self-service technology repeatedly shows high loyalty to these services
and also to companies offering these services. Customers
are satisfied with current services and facilities of Internet
banking.
6.17
0.83
5.37
1.24
5.64
1.13
5.10
1.03
5.40
1.25
5.12
1.23
6.10
0.73
6.04
0.96
5.25
1.42
5.24
1.27
6.11
1.15
5.41
1.32
5.24
1.24
IB network distribution
5.50
1.20
Continuous service
5.31
1.14
Variety of transactions
5.19
1.21
5.26
0.90
Perceived
Value of
IB
Service
Quality
of IB
Customer
loyalty of
IB
Customer
Satisfaction
of IB
Perceived
Value of IB
.440(**)
.316(**)
.341(**)
Service Quality of IB
.440(**)
.277(**)
.377(**)
Customer
loyalty of IB
.316(**)
.277(**)
.438(**)
Customer
Satisfaction of
IB
.341(**)
.377(**)
.438(**)
The table 3 provides the summary of results of this research. The six hypotheses developed for this research
were supported from the results of the correlations measurements. This is sufficient evidence that perceived value provides the base for perceived high service quality
that influences the level of customer satisfaction to convert the Internet banking users into loyal customers of the
Internet banking users.
TABLE 3
RESULTS OF HYPOTHESES BASED ON CORRELATIONS
HYPOTHESIS
FACTORS
RESULTS
H1
Accepted
H2
Accepted
H3
Accepted
H4
Accepted
H5
Accepted
H6
Accepted
In this study, perceived value, service quality, customer satisfaction and customer loyalty factors were used to
find how customers are evaluating the service of Internet
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banking. Perceived value has an impact on service quality, customer satisfaction and customer loyalty. Service
quality also had a similar impact on the perceived value,
customer satisfaction and customer loyalty. Further it can
be inferred from this study that perceived value and service quality are affecting the level of customer satisfaction
and in turn, customer satisfaction affects customer loyalty.
Since the scope of the study was limited to explore the
level of relationships between the factors used for evaluating self-service technologies with specific reference to
Internet banking, no direct recommendation can be suggested for improving the customer satisfaction and brand
loyalty. There is a strong insight from this research which
suggests that companies focusing on better service will
have a better chance of increasing the customer satisfaction and chances of converting satisfied customers into
loyal customers is high.
135
[17]
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[19]
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