The Role of Customer Satisfaction and Awareness as A Measure of Customer Loyalty- A Study on Select Banks

• Published in: RGSA : Revista de Gestão Social e Ambiental 2024-02, Vol.18 (1), p.e04901
• Main Authors: Sasikumar, Swathi, Sundaram, N
• Format: Article
• Language: English
• ISSN: 1981-982X; 1981-982X
• DOI: 10.24857/rgsa.v18n1-069

Purpose: The study wants to examine customer loyalty through customer satisfaction and awareness using developed constructs for select Nifty Banks.   Theoretical framework: The theoretical framework for the study is to analyze customer loyalty through customer satisfaction and awareness using constructs of General Services (GS), Product Cognizance (PC), Technology Services (TS), and Social Responsibility (SR).   Design/methodology/approach: The cluster sampling method was used to collect data from bank customers (n=360) using the self-administered questionnaire. The research used Partial Least Squares – Structural Equation Modelling (PLS-SEM) to test the hypothesis using SmartPLS 4.   Findings: The result showed, that there is low customer satisfaction with Technology Services (TS) and that hypothesis was rejected.   Research, Practical & Social implications: The study has provided recommendations for banks were discussed to pay more attention to customer fulfilment and awareness which convert satisfaction to customer delight.   Originality/value:  Due to market sustainability and dynamics, the Indian banking industry has undergone many major changes such as digital banking units (DBU), digital currencies, and social green initiatives. Bank has incorporated many advancements to overcome its rivals. So, the study wants to know the customers are aware of these changes among their banks and whether they are satisfied with products and services.   Contribution/Originality: The study wants to rank the select banks of India based on the constructs built, which measure customer loyalty through customer satisfaction and awareness.