The Dimensions of Customer Satisfaction In the Financial Services Industry

Author

Jose Salvador Lopez-Alarcon, Lynn University

Date of Award

7-2003

Document Type

Dissertation

Granting Institution

Lynn University

Degree Name

Doctor of Philosophy (PHD)

Degree Program

Global Leadership - with a specialization in Corporate and Organizational Management

Department

College of Education

First Advisor

Ralph Norcio

Second Advisor

William Leary

Third Advisor

Leah Kinniburgh

Abstract

The objective of this study was to collect and interpret data on the areas that influence customer satisfaction in the financial services industry. Specifically, the research defined and explored the ten dimensions that provide the customers with the product perceived value of the product or service. A survey of 230 customers in the Boca Raton area was conducted; data generated through the survey was analyzed descriptively, as well as subjected to regression analysis.

The study found congruence of customer satisfaction and the dimension: tangibles, reliability, responsiveness, competence, courtesy, credibility, safety, access, communication, and empathy. The study also determined that the ten dimensions are statistically significant predictors of customer satisfaction with reliability and responsiveness having the greatest overall impact. The research concluded that 51.6% of the variance in customer's satisfaction is dependent of the ten dimensions in this study. These findings were statistically robust at the .001 level of significance.

This research provides crucial information for practitioners and policy makers on how to improve customer satisfaction, and create life long values and relationships, which will provide a company with significant profitability and viability in the future. Thus allowing a learned business to propel itself in a global competitive field, and give it the knowledge to adapt and make constant improvements as customers preferences change, and raise the standards for the service industry organizations to achieve, maintain, and satisfy goals and objectives sought by the consumer.

Recommended Citation

Lopez-Alarcon, J. S. (2003). The Dimensions of Customer Satisfaction In the Financial Services Industry [Doctoral dissertation, Lynn University]. SPIRAL. https://spiral.lynn.edu/etds/205