Konferensartikel

Andreas C. Georgiou
Department of Business Administration, University of Macedonia, Greece

Katerina Gotzamani
University of Macedonia, Greece

Andreas Andronikidis
University of Macedonia, Greece

George N. Paltayian
University of Macedonia, Greece

Ladda ner artikel

Ingår i: 11th QMOD Conference. Quality Management and Organizational Development Attaining Sustainability From Organizational Excellence to SustainAble Excellence; 20-22 August; 2008 in Helsingborg; Sweden

Linköping Electronic Conference Proceedings 33:20, s. 223-236

Publicerad: 2008-12-09

ISBN:

ISSN: 1650-3686 (tryckt), 1650-3740 (online)

Methodology/Approach: A specific questionnaire was designed based on a list of selection criteria that was drawn from previous surveys as well as on the professional experience of the authors. Five hundreds forty nine (549) questionnaires were personally administered to customers of major banks in Thessaloniki; Greece. A total of 1770 customers were approached; yielding a response rate of 31%.

Findings: Exploratory factor analysis revealed six dimensions regarding bank customers selection criteria. These are: “Simple and effective service”; “Innovation Products”; “Pricing”; “Working Hours”; “Network Sufficiency”; and “Location”. Customers were categorized in six key market segments; based on their most frequently used bank products. These were: a) Housing Loans; b) Consumer Loans; c) Credit Cards; d) Savings Deposits; e) Time Deposits; and f) Funds.

Research limitations: Distributing questionnaires personally did not allow the creation of a completely representative sample of customers of the Greek bank industry.

Practical implications: Measuring customers’ perceptions in terms of the six selection criteria dimensions that emerged can support decision making regarding initiatives to be taken. Findings were related to specific bank product categories assisting managers to customize key banking processes to meet customer needs.

Originality/value of paper: The findings of this study provide insights into customers’ priorities when selecting a specific banking institution. Furthermore; they relate customer wants to specific market segments based on primary data; forming thus; a robust background for the next steps of the research.

Akao; Y (1990); Quality Function Deployment Integrating Customer Requirement into Product design; Productivity press; Portland; Ore.

Almossawi; M.; (2001); “Bank selection criteria employed by college students in Bahrain: an empirical analysis.” International Journal of Bank Marketing; Vol. 19; pp. 115-25

Anderson; W.T.; Fox; E.P. and Fulcher; D.G. (1976); “Bank selection decision and market segmentation”; Journal of Marketing; Vol. 40; pp. 40-5

Boyd; W.; Leonard; M. and White; C. (1994); “Customers preferences and financial services and analysis”; International Journal of Bank Marketing; Vol.12 No 1; pp. 9-15

Cohen; L. (1995); Quality Function Deployment: How to Make QFD Work for you; Addison-Wesley; Reading; MA.

Cronbach; L.J. (1951); "Coefficient alpha and the internal structure of tests"; Psychometrika; Vol. 16 No. 3; pp. 297-334.

Flynn; B.B.; Schroeder; R.G.; Sakakibara; S. (1994); "A framework for quality management research and an associated measurement instrument"; Journal of Operations Management; Vol.11 No. 4; pp. 339-366

Holstius; K. and Kaynak; E. (1995); “Retail Banking in Nordic countries: the case of Finland.” International Journal of Bank Marketing; Vol. 13 No 8; pp.10-20

Hutcheson; G. and Sofroniou; N. (1999). The multivariate social scientist. London: Sage.

Huu Phuong Ta and Kar Yin Har. (2000);”A study of Bank selection decisions in Singapore using the Analytic Hierarchy Process”; International Journal of Bank Marketing; Vol. 18 No 4; pp. 170-180

Javalgi; R.G.; Armaco; R. L. and Hoseini; J.C. (1989); “Using the Analytic Hierarchy Process for bank management: analysis of consumer selection decisions”; Journal of Business Research; Vol. 19; pp 33-49

Kaiser; H. F. (1974). An index of factorial simplicity. Psycometrika; 35; 401-415

Kaynak; E.; Kucukemiroglu; O. (1992); “Bank and product selection in Hong-Kong” International Journal of Bank Marketing; Vol.10 No.1; pp. 3-17

Kennington; C.; Hill; J.; and Rakowska; A. (1996); “Consumer selection criteria in Poland”; International Journal of Bank Marketing; Vol. 14 No. 4; pp. 12-21

Leech N.L.; Barrett K.C.; Morgan; G.A. (2005); SPSS for intermediate statistics: use and interpretation; (2nd ed.); Lawrence Erlbaum Associates; London; UK

Mihelis; G.; Grigoroudis; E.; Siskos; Y.; Politis; Y.; Malandrakis; Y.; (2001) “Customer satisfaction measurement in the private bank sector”; European Journal of Operational Research; Vol.130; pp. 347-360.

Mylonakis; J.; Malliaris; P. and Siomkos; G. (1998); “Marketing –driven factors influencing savers in the Hellenic bank market” Journal of Applied Business Research; Vol. 14 No. 2; pp 109-16

Partovi; F.; (2006); “An analytic model for locating facilities strategically”; Omega international journal of Management Science; Vol. 34; pp. 41-55

Partovi; F.; Corredoira; A. (2002); “Quality function deployment for the good of soccer”; European Journal of operational research; Vol.137; pp. 642- 656.

Soteriou; A and Zenios; S; (1999) “Operations; quality; and profitability in the provision of banking services”; Management Science; Vol.45; No. 9; pp. 1221–1238.

Stevens; J.P. (1992). Applied multivariate statistics for the social sciences (2nd edition)

Tabachnick; B. G.; and Fidell; L. S. (1996); Using multivariate statistics (3rd ed.); St. Louis; MO: HarperCollins.

The Bank of Greece (2007) Annual Report; The Greek Economy: Developments; prospects; and Economic policy challenges.

Yu; J. and Cooper; H. (1983); "A quantitative review of research design effects on response rates to questionnaires"; Journal of Marketing Research; Vol. 20 No. 2; pp. 36-44.

Zineldin; M. (1996); “Bank strategic positioning and some determinants of bank selection”; International Journal of Bank Marketing; Vol. 14 No. 6; pp 12-22.