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The main objective of the study was to assess the customers’ switching behaviour on banking performance. It analysed the factors that contribute to increasing number of customers who switch banks and their influence on banking performance. NBC Ltd Company was chosen as a Case study, the purposive sampling and simple random sampling has been used to obtain a representative of the sample. A sample size consisted of 100 respondents; whereby 60 respondents out of 100 sample size were interviewed being non existing customers, existing customers and bank officers; this was done through interviews, questionnaires and observations. The qualitative analysis through explanatory was used basing on the percentages of data collected from the field.
The research findings revealed that 83% of customers interviewed responded that quality of service offered has a great influence to customers’ switching banks while 65% of customers interviewed have a positive response on price. However, effective advertising of competing banks and long distance revealed 65% and 52% of customers interviewed has a positive response on customers’ switching respectively. Also, it revealed that high income earners especially high economical age groups are more likely to switch banks since they gain less compared to that they contribute to the bank.
It is recommended that banks should not only rely on increasing prices for their benefits because doing so could bring downside effects to banks since price has the first impression to the customer once wants to purchase a product. To improve the service quality, it was suggested that the bank’s staffs are supposed to be trained with their ethics, professionalism, duties and responsibilities towards customers. |
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