Research Proposal on the Use of Competitive Advantage in Retail Banking To Increase Customer Satisfaction: A Case Study Analysis of Kuwait Retail Banking Industry

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Abstract

According to the Peppers and Rogers Group (2010) improving the customer experience is no longer an option it is an imperative. The issue of understanding customer experience in retail banking has never been this important or essential in order to achieve and maintain customers. Banks can only succeed if they are able to keep and grow customers. A critical challenge banks are currently experiencing is how to get more customers, how to retain them longer and how can the customers be provided optimal levels of value. This study is an effort to understand the competitive advantages that can help in increasing customer satisfaction. In such a highly competitive environment retail banking can significantly help in increasing customer satisfaction by providing them with quality services. Within this study the researcher aims at understanding the concept of using competitive advantages within retail banking in order to increase customer satisfaction. This study will present the case of four Kuwaiti retail banks and how their services are affecting the satisfaction of the customers. The methodology used for this study is the mixed research method, both quantitative and qualitative research methods will be applied in order to create a useful study. By the end of this research study the researcher will be able to determine the particular competitive advantages that can help in increasing customer satisfaction in retail banks.

Research Proposal on the Use of Competitive Advantage in Retail Banking To Increase Customer Satisfaction: A Case Study Analysis of Kuwait Retail Banking Industry

Introduction to study

The researcher intends on understanding the concept of using competitive advantages in retail banking in order to increase customer satisfaction. The study will begin with a background of the issue, which includes the reasons that led the researcher on pursuing this topic. The statement of problem that needs to be focused upon will also be discussed, along with the research questions, research aims and objectives, the significance of this study, purpose and rationale. Additionally relevant literature related to the area under study will be presented in the literature review section. Lastly the methodology that will be used to gather all relevant information will be discussed.

Background to Study

In the present competitive world of retail banking, organizations face a pressing challenge to establish a presence that clearly highlights their services from the others. Lower costs, broader product lines, convenience, ease of use and the additional customer services have all been deemed useful factors required to segment the banking industry. For all small and medium sized banks the focus has always been on the services provided to the customers since it seemed as the only logical choice that could make an impact on the customers. This strategy is mostly based on the inability of smaller banks to compete in other areas with larger organizations within the banking sector. Customer retention is primordial in the case of retail banking and in regards ...