SERVQUAL Essay Example | Topics and Well Written Essays - 1500 words

SERVQUAL - Essay Example ortance of customer satisfaction due to the globalize competition which has increased the strategic necessity of customer satisfaction along with quality and loyalty eventually. This helps greatly in achieving better customers and people who would further promote the business. By adopting quantitative method to research study, the researcher aims to identify the gap between customers’ expectations and customers’ perceptions towards Al-Khalij Bank’s services. The selected sample consists of 15 respondents. The results reflects that the customers are somewhat satisfied with the services they receive at Al-Khalij Bank. The basic aim of management of any business is to ensure that their customers are satisfied from the products and services they purchase. Businesses formulate strategies that can achieve customers’ loyalty to the brand and its products upon attaining customers’ satisfaction. Businesses focus on influencing consumer behavior through effective marketing and quality products and services, which help them to meet customers’ expectations. It was not long time ago that customers’ satisfaction was not considered as an important factor to have an impact on the organization’s performance. Strategists and business managers failed to understand the fact that greater customer satisfaction would eventually lead to greater profitability (Olorunniwo, Hsu and Udo). Moreover, the absence of quality competition within industries also deprived businesses to achieve customer satisfaction. This was mainly because customers had few alternatives to fulfill their demand f or a product or service. However, in present times, the scenario has quite changed as there is a defined importance of customer satisfaction due to the globalize competition, which has increased the strategic necessity of customer satisfaction along with quality and loyalty eventually. This helps greatly in achieving better customers and people who would promote the business further