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Journal cover: Managing Service Quality

Managing Service Quality

ISSN: 0960-4529

Online from: 1991

Subject Area: Managing Quality

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Challenges in serving the mass affluent segment: bank customer perceptions of service quality


Document Information:
Title:Challenges in serving the mass affluent segment: bank customer perceptions of service quality
Author(s):Christer Strandberg, (Department of Social Sciences, Mid Sweden University, Sundsvall, Sweden), Olof Wahlberg, (Department of Social Sciences, Mid Sweden University, Sundsvall, Sweden), Peter Öhman, (Department of Social Sciences, Mid Sweden University, Sundsvall, Sweden)
Citation:Christer Strandberg, Olof Wahlberg, Peter Öhman, (2012) "Challenges in serving the mass affluent segment: bank customer perceptions of service quality", Managing Service Quality, Vol. 22 Iss: 4, pp.359 - 385
Keywords:Banking, Customer services quality, Kano model, Mass affluent customers, Private banking, Sweden
Article type:Research paper
DOI:10.1108/09604521211253478 (Permanent URL)
Publisher:Emerald Group Publishing Limited
Abstract:

Purpose – The purpose of this paper is to explore the possible usefulness of a combined multi-attribute and Kano model in analysing how service quality is perceived by mass affluent bank customers. More precisely, to identify quality dimensions, attributes, and items in terms of taken-for-granteds, proportionals, delighters, and neutrals.

Design/methodology/approach – Using a survey, the authors measured how mass affluent customers in one region in a major Swedish bank perceived service quality. Responses were analysed with reference to both multi-attribute service quality and Kano models.

Findings – The combined model seems to provide some guidance regarding how service quality is perceived by bank customers in the mass affluent segment. The significant number of neutral items reveals potentially wasted resources. The finding of only one delighter item reveals that mass affluent customers are difficult to please. However, substantial heterogeneity exists in customer perceptions of the service quality items investigated.

Research limitations/implications – This exploratory study examines only one bank in one region in one country, implying a need for additional research applying this combined model and other methods to investigate private banking in the mass affluent segment.

Practical implications – The significant number of neutrals implies that banks might be more efficient if they avoided spending resources on such items. The conspicuous spread in conceptions of service quality items suggests that bank managers and personal bankers may benefit from co-creating services with mass affluent customers.

Social implications – Banks are intermediates on financial markets. Improved and customized service quality could make mass affluent customers inclined to invest their resources in ways that promote economic growth.

Originality/value – In addition to traditional measurement models, the Kano model may contribute to service quality assessment in private banking.



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