IJRFM
Volume 5, Issue 10 (October, 2015)
(ISSN 2231-5985)
International Journal of Research in Finance and Marketing (IMPACT FACTOR – 5.230)
“Marketing of Retail Banking Services in Private Sector Banks in India”
Dr.Supreet Singh, Associate Prof.,Delhi School of Professional Studies and Research,New Delhi
Ms.Himani Goel, Asst. Prof., Delhi Technical Campus, Bahadurgarh, Haryana
Dr.Rohtash Kumar Garg, Asst.Prof.DIRD,New Delhi
ABSTRACT:
The Retail Banking environment today is changing fast. The changing customer
demographics demands to create differentiated application, based on scalable technology, improved
service and banking convenience. Higher penetration of technology and increase in global literacy
levels has set up the expectations of the customer higher than before. Increasing use of modern
technology has further enhanced reach and accessibility.
Present day tech-savvy bankers are now more looking at reduction in their operating costs
by adopting scalable and secure technology thereby reducing the response time to their customers
so as to improve their client base and economies of scale. The solution lies to market demands and
challenges lies in innovation of new offering with minimum dependence on branches ' a multichannel bank and to eliminate the disadvantage of an inadequate branch network. Generation of
leads to cross sell and creating additional revenues with outmost customer satisfaction
has become focal point worldwide for the success of a Bank.
KEYWORDS: Retail Banking, Nationalization, Private Sector Banks, Service Quality,CRM.
Introduction:
With the rapid economic development of the country, the role of banks has become increasingly
crucial. On the one hand we are finding the death of so many cooperative banks and on the other
hand we find the success stories of ICICI, SBI Bank, HDFC, and Centurion bank of Punjab etc. The
main reason for the success of few banks is because they have accepted banking as a service. The
banking business has therefore become complex and requires specialized skills. Most of the banks
not only have an extremely vague idea about their position and prospects in the industry, but are
also carrying out their business without any clear vision and mission of wide ranging need of the
customer. The purpose of any business organization is to create customer so that they maximize the
size of the market and hence profit. Here is the time to make enough marketing efforts for the
survival of the bsuiness.A study such as is vital as enchancing the marketing activities of banks has
been the key goal of banking sector refiorms in many countries, and India is not an exception. In a
world of competition, which is in the grip of liberalisation, privatisation, globalisation Indian banks
have to continuously innovate and readapt themselves in changing automosphere.
About the Industry:
Banks safeguard money and valuables and provide loans, credit, and payment services, such as
checking accounts, money orders, and cashier’s checks. Banks also may offer investment and
insurance products, which they were once prohibited from selling. As a variety of models for
International Journal of Research in Finance and Marketing
Email id: editorijrim@gmail.com, http://www.euroasiapub.org
74
IJRFM
Volume 5, Issue 10 (October, 2015)
(ISSN 2231-5985)
International Journal of Research in Finance and Marketing (IMPACT FACTOR – 5.230)
cooperation and integration among finance industries have emerged, some of the traditional
distinctions between banks, insurance companies, and securities firms have diminished. In spite of
these changes, banks continue to maintain and perform their primary role—accepting deposits and
lending funds from these deposits.
There are several types of banks, which differ in the number of services they provide and the
clientele they serve. Although some of the differences between these types of banks have lessened
as they begin to expand the range of products and services they offer, there are still key
distinguishing traits. Commercial banks, which dominate this industry, offer a full range of services
for individuals, businesses, and governments. These banks come in a wide range of sizes, from large
global banks to regional and community banks. Global banks are involved in international lending
and foreign currency trading, in addition to the more typical banking services. Regional banks have
numerous branches and automated teller machine (ATM) locations throughout a multi-state area
that provide banking services to individuals. Banks have become more oriented toward marketing
and sales. As a result, employees need to know about all types of products and services offered by
banks. Community banks are based locally and offer more personal attention, which many
individuals and small businesses prefer. In recent years, online banks—which provide all services
entirely over the Internet—have entered the market, with some success. However, many traditional
banks have also expanded to offer online banking, and some formerly Internet-only banks are opting
to open branches.
Savings banks and savings and loan associations, sometimes called thrift institutions, are the second
largest group of depository institutions. They were first established as community-based institutions
to finance mortgages for people to buy homes and still cater mostly to the savings and lending needs
of individuals.
Interest on loans is the principal source of revenue for most banks, making their various lending
departments critical to their success. The commercial loan lending department lend money to
companies to start or expand a business or to purchase inventory and capital equipment. The
consumer lending department handles student loans, credit cards, and loans for home
improvements, debt consolidation, and automobile purchases. Finally, the mortgage lending
department loans money to individuals and businesses to purchase real estate.
The money to lend comes primarily from deposits in checking and savings accounts, certificates of
deposit, money market accounts, and other deposit accounts that consumers and businesses set up
with the bank. These deposits often earn interest for the owner, and accounts that offer checking
provides an easy method for making payments safely without using cash. Deposits in many banks
are insured by the central bank, which ensures that depositors will get their money back, up to a
stated limit, if a bank fails.
Other fundamental changes are occurring in the industry as banks diversify their services to become
more competitive. Many banks now offer their customers financial planning and asset management
services, as well as brokerage and insurance services, often through a subsidiary or third party.
Others are beginning to provide investment banking services that help companies and governments
raise money through the issuance of stocks and bonds, also usually through a subsidiary. As banks
respond to deregulation and as competition in this sector grows, the nature of the banking industry
will continue to undergo significant change.
International Journal of Research in Finance and Marketing
Email id: editorijrim@gmail.com, http://www.euroasiapub.org
75
IJRFM
Volume 5, Issue 10 (October, 2015)
(ISSN 2231-5985)
International Journal of Research in Finance and Marketing (IMPACT FACTOR – 5.230)
Indian Banking:
Until the 1990’s the Indian financial system was characterized by limited competition. Both the
products and players were circumscribed by heavy regulation in interest rates in credit, government
securities and capital markets. The Indian banking scenario was characterized by an administered
structure with a highly segmented market with limited competition and few distinct alternative
products. Today the paradigm of “Universal banking” is fast catching up. Banks are striving to be
universal service provider for wholesale and retail customers. Several Indian financial institutions are
emulating international players like Citigroup, bank of America, HSBC etc, in being a universal bank.
Adapting to the new paradigm are the newly charted private sector banks like HDFC bank, ICICI
bank, UTI Bank etc. Currently they account for more percent of the domestic banking market but
their impact on the sector is tremendous. These banks occupy a niche between the state owned
banks (that lack technology and customer focus) and foreign banks (that possess focus and products
but not distribution).
In 2000, Standard Charted of London bought the Grindlays unit of ANZ banking group. The combined
entity, called Standard Charted Grindlays, became the top bank among foreign banks operating in
India. (Second in 2000 is Citi bank) It is also the first foreign bank to take its place among the top
banks operating in India.
Increasing customer sophistication, de regulation, new technology and continuing competition from
non bank financial corporations have forced banks world wide to reconsider their approach to the
market place. The old ways of doing things have been challenged and the new products, presented
in new ways and available through new types of outlets have become available. Generally speaking
there has been a move towards more of a market orientation. However this process of innovation
and the acceptance of marketing concept by banks have met with many classic problems associated
with the innovative process. It is undoubtedly true that marketing has established a firm foothold in
the banking industry. It is also clear that it still has a long way to go before it is accepted as an
integral part of a good modern banking practice.
SERVICE QUALITY
In the service quality is interpreted as perceived quality which means a customer’s
judgment about a service. The authors of SERVQUAL which has been extensively used in assessing
service quality of different service providers including banks suggested that “Quality evaluations are
not made solely on the outcome of a service; they also involve evaluations of the process of service
delivery” (Parasuraman et al., 1985,p.42). Within the SERVQUAL model, service quality is denied as
the gap between customer perceptions of what happened during the service transaction and his
expectations of how the service transaction should have been performed. SERVQUAL refers to five
dimensions of quality:
The five SERVQUAL dimensions are:
1. TANGIBLES-Appearance of physical facilities, equipment, personnel, and communication
materials
2. RELIABILITY-Ability to perform the promised service dependably and accurately
3. RESPONSIVENESS-Willingness to help customers and provide prompt service
4. ASSURANCE-Knowledge and courtesy of employees and their ability to convey trust and
confidence
5. EMPATHY-Caring, individualized attention the firm provides its customers
Service quality is a business administration term used to describe achievement in service. It
reflects both objective and subjective aspects of service.
International Journal of Research in Finance and Marketing
Email id: editorijrim@gmail.com, http://www.euroasiapub.org
76
IJRFM
Volume 5, Issue 10 (October, 2015)
(ISSN 2231-5985)
International Journal of Research in Finance and Marketing (IMPACT FACTOR – 5.230)
The accurate measurement of an objective aspect of customer service requires the use of
carefully predefined criteria.
The measurement of subjective aspects of customer service depends on the conformity of
the expected benefit with the perceived result. This in turns depends upon the customer's
imagination of the service they might receive and the service provider's talent to present this
imagined service. Pre-defined objective criteria may be unattainable in practice; in which case, the
best possible achievable result becomes the ideal. The objective ideal may still be poor, in subjective
terms.
Service quality can be related to service potential (for example, worker's qualifications);
service process (for example, the quickness of service) and service result (customer satisfaction).
Present Scenario:
Wage and salary employment in banking is projected to decline by about 2 percent between 2004
and 2014, compared with the 14 percent growth projected for wage and salary employment across
all industries. Employment in the banking industry declined as a result of bank consolidations and
technology. In addition, many consumers transferred assets from bank deposits to investment
accounts offered by stock brokers and mutual funds. Also, the banking business has faced much
more intense competition in the lending business from credit card companies and specialized loan
carriers. In recent years, employment in the banking industry has stabilized. These factors are
expected to continue but at a slower pace, and banks are expected to be better able to compete
with non depository institutions in the future.
The combined effects of technology, deregulation, mergers, and population growth will continue to
affect total employment growth and the mix of occupations in the banking industry. The decline in
some office and administrative support occupations will be offset by growth in some professional
and sales occupations. Job opportunities should still be favorable for tellers and other administrative
support workers because they make up a large proportion of bank employees and have high
turnover.
The consolidation which resulted from bank mergers contributed significantly to employment
declines throughout much of the past decade. Merger activity—at a slower pace—is expected to
continue over the projection period, dampening employment growth. At the same time, banks have
begun to refocus on the branch as a critical means of servicing customers and many banks will open
more branch offices in areas in which the population is growing. However, because of widespread
automation of many banking services, fewer employees will be hired to staff new branches than in
the past.
Advances in technology should continue to have the most significant effect on employment in the
banking industry. Demand for computer specialists will grow as more banks make their services
available electronically and eliminate much of the paperwork involved in many banking transactions.
On the other hand, these changes in technology will reduce the need for some office and
administrative support occupations. Employment growth among tellers will be limited as customers
increasingly use ATMs, direct deposit, debit cards, and telephone and Internet banking to perform
routine transactions. Other technological improvements, such as digital imaging and computer
networking, are likely to lead to a decrease or change in the nature of employment of the “backoffice” clerical workers who process checks and other bank statements. Employment of customer
service representatives, however, is expected to increase as banks hire more of these workers to
staff phone centers and respond to e-mails.
International Journal of Research in Finance and Marketing
Email id: editorijrim@gmail.com, http://www.euroasiapub.org
77
IJRFM
Volume 5, Issue 10 (October, 2015)
(ISSN 2231-5985)
International Journal of Research in Finance and Marketing (IMPACT FACTOR – 5.230)
Deregulation of the banking industry allows banks to offer a variety of financial and insurance
products that they were once prohibited from selling. The need to develop, analyze, and sell these
new services will spur demand for securities and financial services sales representatives, financial
analysts, and personal financial advisors. Demand for “personal bankers” to advise and manage the
assets of wealthy clients, as well as the aging baby-boom generation, also will grow. However, banks
will continue to face considerable competition—particularly in lending—from nonbank
establishments, such as consumer credit companies and mortgage brokers. Companies and
individuals now are able to obtain loans and credit and raise money through a variety of means
other than bank loans. Therefore, some loan officers may be replaced by financial services sales
representatives, who sell loans along with other bank services.
Maintaining customer relation: (CRM) ; ( A successful mantra to sell all types of services to one
customers)
Through frustration with traditional marketing approaches, financial services providers continue to
look for new marketing models to enhance their competitive position. This search has never been
more important as demand for many financial services remains depressed, and competitive intensity
increases.
Relationship marketing, therefore, takes the concept of market segmentation one step further. It
calls for the development of continuous relationships with individual customers across a range of
related products, in personalized form. It requires, as a minimum, a good customer database, highly
targeted and personalized communications and consistently high levels of personalized service.
Relationship marketing requires major changes in business practice across the organization. Progress
has undoubtedly been constrained by poor information systems, but our research suggests that
organizational culture and capabilities remain equally significant barriers to progress
Technology
(Improvement required as a ground for all success)
The banking industry is currently in the forefront of the developments of technology-based service
delivery. Interesting from a value creation perspective is that banks, not consumers, drive the
technology-based service usage by pushing customers towards more cost-efficient service delivery
channels. For customers this influences banking service value because the service delivery frequently
occurs without customer–service employee interaction. Customers are creating the service
themselves through technology-based self-service, such as ATMs, internet, or mobile phone. With
these self-service technologies, that is 'technological interfaces that enable customers to produce a
service independent of direct service employee involvement’; customers can create value without
the explicit involvement of the service provider. It has even been suggested that technology is
eliminating interpersonal service encounters altogether.
Technology is having a major impact on the banking industry. For example, many routine bank
services that once required a teller, such as making a withdrawal or deposit, are now available
through ATMs that allow people to access their accounts 24 hours a day. Also, direct deposit allows
companies and governments to electronically transfer payments into various accounts. Further,
debit cards, which may also used as ATM cards, instantaneously deduct money from an account
when the card is swiped across a machine at a store’s cash register. Electronic banking by phone or
computer allows customers to pay bills and transfer money from one account to another. Through
these channels, bank customers can also access information such as account balances and statement
International Journal of Research in Finance and Marketing
Email id: editorijrim@gmail.com, http://www.euroasiapub.org
78
IJRFM
Volume 5, Issue 10 (October, 2015)
(ISSN 2231-5985)
International Journal of Research in Finance and Marketing (IMPACT FACTOR – 5.230)
history. Some banks have begun offering online account aggregation, which makes available in one
place detailed and up-to date information on a customer’s accounts held at various institutions.
Advancements in technology have also led to improvements in the ways in which banks process
information. Use of check imaging, which allows banks to store photographed checks on the
computer, is one such example that has been implemented by some banks. Other types of
technology have greatly impacted the lending side of banking. For example, the availability and
growing use of credit scoring software allows loans to be approved in minutes, rather than days,
making lending departments more efficient.
Customer Service value: (required to be globally competitive)
Consequently, a challenge for the bank sector is how to create service value. Aspects traditionally
seen as value-adding are not necessarily valuable. Banking research has, however, focused on
describing and measuring service quality rather than studying service value.Currently, there is a
growing interest towards the quality of technology-based banking services and aspects influencing
the adoption and use of them. In service research, the amount of research on e-service value is less
extensive compared to research on e-service quality. The aim is to develop a conceptual framework
for online banking service value. A multi dimensional model is required to be used to create a more
holistic approach to online banking service value by exploring first the relative importance of each of
the dimensions and then describing the sub-dimensions of each dimension.
Conclusion:
The success of the banking transaction depends on the way the ground level branches handles the
business. The paradox here is that most of those working at the ground level, those who interact
continuously with the customers that drive a bank’s business, those who constitute the majority of
the workforce handiling banking business and even the customers themselves have little, if at all
any, idea about the other half of the operation. There is tremendous need to train the officials on
the above subject matter.
Automation and the centralisation have improved speed and efficiency while simplifying the
decesion making process. Additionally, banks offices are centralised including offshore processing
centers, far removed from the customers they are supposed to serve. Direct sales agents (DSA) and
business process outsourcing (BPO) outfits have mushroomed to take advantage of the competitive
environment and the share the growth in business. Our perception is technology is the only way of
improving the marketing of banking services.
But somewhere along the way, skill development has suffered. Though bank business turnover has
exploded in recent times, skill levels have not kept pace with it. Less time has been made available,
or opportunityes provided, to bridge the gaps in knowledge. In the fentastic world of banking
business, the urge to master the intricacies of the business, understand the tricks of the trade,
appreciate and internalise fully the systems, procedures, norms and practices- all these have
unfortunately taken the backseat.
An impression has simultaneously gained ground that banking is a complicated subject and is
difficult to understand. Many feel that it requires considerable expertise, a special aptitude and
application mind to grasp the finer points of money related business.These perceptions are far from
truth. In reality banking is a simple subject that calls for a certain degree of knowledge, experience,
application of mind and a large measure of common sense.
International Journal of Research in Finance and Marketing
Email id: editorijrim@gmail.com, http://www.euroasiapub.org
79
IJRFM
Volume 5, Issue 10 (October, 2015)
(ISSN 2231-5985)
International Journal of Research in Finance and Marketing (IMPACT FACTOR – 5.230)
More emphasis is to be given on micro finance in the name of self help group to capture the market.
Micro credit promoting institutions like NGO’s, commerciual Banks, regional rural banks and
cooperative banks will be given tramendous encouragement in the future which will lead to the
development of the economy through the chanalising the money in the proper channel. The tenth
planning commission stated that there would be prograssive shift from the individual beneficiary
approach to the group or cluster approach.
Our study on mergers and acquisitions reveals that corporate combinations are similar to the kinds
of combinations and acquisitions that individuals often undertake in their everyday lives. Further,
acquisitions are often made for solid business reasons. Although the acquisition may be made for
sound and understandable reasons, the acquiring company typically pays too much. This is due to
asymmetric information and the mechanics of a tender offer. We also reviewed the economic
impacts of mergers and acquisitions on the employees, management, shareholders, and the
competitive economic environment. We found that the impact of mergers and acquisitions are
mixed - generally positive for the target firm’s shareholders, but negative for the acquiring firm’s
shareholders as well as the resulting company’s employees and management. One final caveat is
that each acquisition is complex with its own unique set of costs and benefits. The only way that
banks can be globally competitive is by Mergers and acquisitions.
REFERENCES / BIBLIOGRAPHY:
1. Levy, M., & Weitz, B. (2005). Retailing Management (6th Edition). Burr Ridge, IL: McGraw-Hill.
2. Lam, S.S.K. (1997). SERVQUAL: a tool for measuring patients opinions of hospital service quality
in
Hong
Kong.
Total
Quality
Management,
8
(4),
pp.
145-152.
http://dx.doi.org/10.1080/0954412979587
3. Lam, T., & Zhang, H.Q. (1999). Service quality of travel agents: the case of travel agents in Hon
Kong. Tourism Management, 20 (3), pp. 341-349. http://dx.doi.org/10.1016/S02615177(98)00118-6
4. Lam, T.K.P. (2002). Making sense of SERVQUAL's dimensions to the Chinese customers in Macau.
Journal
of
Market-focused
Management,
5
(10),
pp.
43-58.
http://dx.doi.org/10.1023/A:1012575412058
5. Leste, M.R., & Wanderley, V. (1997). The interactive approach to service quality and
management. Deuxième Congres International Franco-Quebecois de Génie Industriel, ALBI 1997.
6. Mattson, J. (1994). Improving service quality in person-to-person encounters. The Service
Industries Journal, 14 (1), pp. 45-61. http://dx.doi.org/10.1080/02642069400000004
7. Mey, L.P., Akbar, A.K., & Fie, D.Y.G. (2006). Measuring service quality and customer satisfaction
of the hotels in Malaysia: Malaysian, Asian and non-Asian hotel guests. Journal of Hospitality and
Tourism Management, 13 (2), pp. 144-160. http://dx.doi.org/10.1375/jhtm.13.2.144
8. Nadiri, H., & Hussain, K. (2005). Diagnosing the zone of tolerance for hotel services. Managing
Service Quality, 15 (3), pp. 259-277. http://dx.doi.org/10.1108/09604520510597818
9. Naik, C.N. Krishna, Gantasala S.B., & Gantasala, V.P. (2010). Service quality (SERVQUAL) and its
effect on customer satisfaction in retailing. European Journal of Social Sciences, 16 (2), pp. 231243.
10. Nunnally, J.C., & Bernstein, I. (1994). Psychometric Theory, McGraw-Hill, New York.
11. Ovretveit, J. (1993). Measuring Service Quality. Hertfordshire, England: Technical
Communication (Publishing) Ltd
12. Ozer, L.S. (1999). Musteri tatmini ve tatmin teorilerine yonelik literaturedeki kuramsal
tartismalar. Working paper, Ankara: Hacetepe University.
International Journal of Research in Finance and Marketing
Email id: editorijrim@gmail.com, http://www.euroasiapub.org
80
IJRFM
Volume 5, Issue 10 (October, 2015)
(ISSN 2231-5985)
International Journal of Research in Finance and Marketing (IMPACT FACTOR – 5.230)
13. Parasuraman, A., Zeithaml V., & Malhotra A. (2005). E-S-QUAL: a multiple-item scale for
assessing electronic service quality. Journal of Service Research, 7 (3), pp. 213-233.
http://dx.doi.org/10.1177/1094670504271156
14. Parasuraman, A., Zeithaml, V.A., & Berry, L.L. (1985). A conceptual model of service quality and
its implications for future research. Journal of Marketing, 49 (4), pp. 41-50.
http://dx.doi.org/10.2307/1251430
15. Parasuraman, A., Zeithaml, V.A., & Berry, L.L. (1991b). Refinement and reassessment of the
SERVQUAL scale. Journal of Retailing, 67 (4), pp. 420-450.
16. Parasuraman, A., Berry, L.L., & Zeithaml, V.A. (1991a). Understanding, measuring and improving
service quality findings from a multiphase research program. in: S.W. Brown, E. Gummesson, B.
Edvardsson and B. Gustavsson (Eds), Service Quality: Multidisciplinary and Multinational
Perspectives (Lexington Books, NY).
17. Parasuraman, A., Zeithaml, V.A., & Berry, L.L. (1993). Research note-more on improving service
quality measurement. Journal of Retailing, 69 (1), pp. 140-147. http://dx.doi.org/10.1016/S00224359(05)80007-7
18. Parikh, D. (2006). Measuring retail service quality: an empirical assessment of the instrument.
Vikalpa, 31 (2), pp. 45-55.
19. Pariseau, S.E., & McDaniel, J.R. (1997). Assessing service quality in schools of business.
International Journal of Quality and Reliability Management, 14 (3), pp. 204-218.
http://dx.doi.org/10.1108/02656719710165455
20. Petrick, J.F. (2002). Development of a multi-dimensional scale for measuring the perceived value
of a service. Journal of Leisure Research, 34 (2), pp. 119-134.
21. Qualls, William J., & Rosa, JoseAntonio (1995). Assessing industrial buyers' perception of quality
and their effects on satisfaction. Industrial Marketing Management, 24 (5), pp. 359-369.
http://dx.doi.org/10.1016/0019-8501(95)00027-8
22. Rahtz, Don R., Sirgy, Joseph M., & Kosenko, R. (1988). Using demographics and psychographic
dimensions to discriminate between mature heavy and light television users: an exploratory
analysis. Developments in Marketing Science, 11, pp. 2-7.
23. Sherden, W. (1987). The erosion of service quality. Best's Review, 88 (5), pp. 22.
24. Siddiqui, Masood H., & Sharma, T.G. (2010). Measuring the customer perceived service quality
for life insurance services: an empirical investigation. International Business Research, 3 (3), pp.
171-186, Available: www.ccsenet.org/ibr.
25. Silvestro, R., Johnston, R., Fitzgerald, L., & Voss, Ch. (1990). Quality measurement in service
industry. International Journal of Service Industries Management, 1 (2), pp. 54-66.
http://dx.doi.org/10.1108/EUM0000000002803
26. Sinclair, D., & Zairi, M. (1995). Effective process management through performance
measurement: part III-an integrated model of total quality-based performance measurement.
Business Process Re-engineering and Management Journal, 1 (3), pp. 50-65.
http://dx.doi.org/10.1108/14637159510103220
27. Stafford, M.R., Stafford, T.F. and Wells, B.P. (1998). Determinants of service quality and
satisfaction in the auto casualty claims process. Journal of Services Marketing, 12 (60), pp. 426440. http://dx.doi.org/10.1108/08876049810242687
28. Stevens, P., Knutson, B., & Patton, M. (1995). DINESERV: a tool for measuring service quality in
restaurants. Cornell Hotel and Restaurant Administration Quarterly, 36 (2), pp. 56-60.
http://dx.doi.org/10.1177/001088049503600226
29. Teas, R.K. (1993). Expectations, performance evaluation, and consumers' perceptions of quality.
Journal of Marketing, 57 (October), pp.18-34. http://dx.doi.org/10.2307/1252216
30. Timmers, G.J., & Van Der Wiele, T. (1990). Airline quality: translating strategy into perception at
30,000 feet and 400 miles/hour, Paper presented at Quality in Services (QUIS-2), St John's
University, USA.
International Journal of Research in Finance and Marketing
Email id: editorijrim@gmail.com, http://www.euroasiapub.org
81
IJRFM
Volume 5, Issue 10 (October, 2015)
(ISSN 2231-5985)
International Journal of Research in Finance and Marketing (IMPACT FACTOR – 5.230)
31. Toncar, M.F., Reid, J.S., Burns, D.J., Anderson, C.E., & Nguyen, H.P. (2006). Uniform assessment
of the benefits of service learning, the development, evaluation, and implementation of the
SELEB scale. Journal of Marketing Theory and Practice, 14 (3), pp. 223-238.
http://dx.doi.org/10.2753/MTP1069-6679140304
32. Voss, C.A., Roth, A.V., Rosenzweig, E.D., Blackmon, K., & Chase, R.B. (2004). A tale of two
countries' conservatism, service quality, and feedback on customer satisfaction. Journal of
Service Research, 6 (3), pp. 212-230. http://dx.doi.org/10.1177/1094670503260120
33. Van Der Wal, R.W.E., Pampallis, A., & Bond, C. (2002). Service quality in a cellular
telecommunications company: a South African experience. Managing Service Quality, 12 (5), pp.
323-335. http://dx.doi.org/10.1108/09604520210442119
34. Wilkins, H., Merrilees, B., & Herington, C. (2007). Toward an understanding of total service
quality in hotels. International Journal of Hospitality Management, 26 (4), pp. 840-853.
http://dx.doi.org/10.1016/j.ijhm.2006.07.006
35. Yoo, B., & Donthu, N. (2001). Developing a scale to measure the perceived quality of internet
shopping sites (SITEQUAL). Quarterly Journal of Electronic Commerce, 2 (1), pp. 31-47.
International Journal of Research in Finance and Marketing
Email id: editorijrim@gmail.com, http://www.euroasiapub.org
82