A Dissertation Submitted in Partial Fulfillment of the Requirements for the Award of the Bachelor Degree of Business Administration and Entrepreneurship Development of Mzumbe University
The purpose of this research study was to investigate factors affecting customer satisfaction in the banking industry in Tanzania. A study conducted at Cooperative Rural Development Bank (CRDB) Kinyerezi Branch. The objectives which guide this study were to determine the level of customer satisfaction in the banking industry, to determine factors affecting customer satisfaction in the banking industry, to examine the challenges that managers face in satisfying customers in the banking industry.
The study used both qualitative and quantitative approaches to investigate factors affecting customer satisfaction in banking service providers. The study carried out and covered 80 external customers of the CRDB Kinyerezi branch and all 20 internal as according to the sample size. Data collected using the interview method and questionnaires. Tools used in data collection were structured questionnaires, and guiding questions. Data analysis was conducted using Statistical Package for Social Services (SPSS) for descriptive statistics. The findings of the study presented using Tables.
It was revealed that customers are satisfied with the service provided by the CRDB bank Kinyerezi branch. However, from the study, it was further revealed that small numbers of customers are not satisfied. Moreover, the study found that several factors affect customer satisfaction in the banking industry that needs to be seriously taken to improve banking performance and satisfaction of customers as well. Furthermore, the study found the challenges facing management on satisfying the customers.
The study recommends that to maintain a high level of customer satisfaction the Bank needs to offer more quality financial services through monitoring and evaluation systems. Also on the factors affecting the satisfaction of customers, the study recommends that the bank needs to improve its service quality to satisfy more customers. The study also recommended the challenges that face management on the satisfaction of customers, the bank needs to improve also the quality of services and standards to overcome those challenges.