Factors influencing customer satisfaction at the Kenya Commercial Bank, Nakuru Branch, Kenya
In today's fast-paced and increasingly competitive market, the bottom line of a firm's marketing strategies and tactics is to make profits and contribute to the growth of the company. Customer satisfaction, is one of the global issues that affect all organizations, be it large or small, profit or non-profit, global or local. Customer satisfaction has long been recognized as playing a crucial role for success and survival in today's competitive market. An understanding of the factors influencing customer satisfaction is important to any organization including banks. This study sought to determine the factors influencing customer satisfaction at the Kenya Commercial Bank, Nakuru. The study's specific objectives were: to investigate the factors influencing customers' satisfaction at the Kenya Commercial Bank, Nakuru; to examine the existing relationships between perceived service quality and customers' purchasing intention (retention or recommendation); to examine the relationships between product differentiation and customers' satisfaction; to examine the relationships between technology and customers' satisfaction and to examine the relationships between direct selling approach and customers' satisfaction at the KCB, Nakuru. The study was carried out at the KCB Nakuru branch, amongst its customers and employees. A study sample of 75 employees and 96 customers were used. The study adopted the Cross Sectional Survey Design. The study samples were selected using simple random sampling technique. Data was collected using two sets of questionnaires. Data collected was then analysed by the aid of the SPSS and Ms Excel computer software. The results were then presented in tabular summaries and charts. The study revealed that there was a positive relationship between perceived service quality; product differentiation; technology; and customer satisfaction. The strategies used by the bank at the time of the study for the enhancement, of customer satisfaction levels, adopted technology and employee empowerment through training. However, the findings indicate lesser application of the strategies at the bank, hence recommends that the bank should consider enhancing the effectiveness of the strategies. The study recommends that an investigation into the Challenges faced by commercial banks in enhancing customer satisfaction in commercial banks; and an assessment of the effectiveness of technologies used by commercial banks in enhancing customer satisfaction needs be carried out. The study findings could be used by the KCB management in the designing, review and implementation . of appropriate customer satisfaction mechanisms and policies.