Customer Satisfaction in Australian Banks
The business research topic that has been selected for the purpose of analysis is an evaluation of the customer satisfaction level from ANZ bank Australia and the strategies that could be considered in ensuring the further level of improvement of services to customers. The satisfaction of customers is one of the most crucial factors that need to be considered in respect to every kinds of organisation, and this is also applicable in respect to banking industry as well (Karatepe, Yavas and Babakus, 2005). ANZ bank is a major Australian bank and there is a need for higher level of customer satisfaction that needs to be ensured for achieving higher level of success. Customer satisfaction is defined at the extent to which the customers of the organisation are satisfied or their expectations from the service providers are properly met. However, the recent global financial crisis in 2008 has affected the morale of banking customers adversely, and this has affected the bank’s ability in satisfying their customers. As a result, customer satisfaction is crucial for the ANZ bank in achieving higher level of success in its operations (Koch and MacDonald, 2009).
Research Question for the Identified Problem
In respect to the selected research topic, the research question that has been considered for analysis is “What is the current level of services being offered to the customers of ANZ bank Australia and how can the further level of improvements in its services can be attained?.
Appropriate Methodologies and Research Techniques in the Research
In performing this research on analysing the customer satisfaction level in respect to ANZ bank and the ways in which their satisfaction level can be further enhanced, the researcher is required to consider appropriate research methodologies. This will allow for the collection of most relevant data through selecting the appropriate research methods. In this research on examining the customer satisfaction level in respect to ANZ bank Australia, the research methodology that is highly suited is quantitative research method. This research method allows for the collection of responses of large number of customers of ANZ bank regarding their satisfaction from the banking services. The technique that will be followed in collecting relevant data from the respondents is survey technique as this technique will allow for the collection of data that can be quantitatively managed to analyse the customer satisfaction level (Creswell, 2003).
Description of the Research Process
The research process that will be followed in collecting data through survey is a specific way in which data can be collected. As for instance, the given research is focused towards analysing the customer satisfaction in respect to ANZ bank Australia and as a result, the research process to collect relevant data will be performed through surveying bank’s customers. This will be performed by researcher by way of visiting the premises of ANZ bank Australia and the customers will be surveyed by way of directly interacting with them. This will be carried out through the application of questionnaire that will comprise of closed ended questions on various important dimensions of customer satisfaction so that their current level of satisfaction can be identified and the areas that need further level of improvement can be identified. This will ensure the development of appropriate strategy in ensuring higher satisfaction of ANZ bank’s customers (Manrai and Manrai, 2007).
Data Collection and Analysis Methods
The data collection method that can be applied by researcher in performing the collection of data is primary data collection methods and secondary data collection methods. The primary data collection involves the direct collection of data from the customers by way of interacting with them through applying techniques such as survey, interview or observation technique. However the secondary data collection involves the collection of data from already available sources such as academic books, journals, online websites etc. The technique applied in collecting relevant secondary data is literature review technique. This research on analysing the customer satisfaction level from ANZ bank Australia will involve the collection of both primary data and secondary data. The primary method will be applied in the form of surveys carried out with the customers of ANZ bank Australia and the secondary method will be applied in the form of performing an in-depth analysis of the existing literature through assessing journal articles and academic books. In these ways, the collection of relevant data would be ensured in respect to the given research. The sampling strategy that will be considered in performing the collection of relevant data is simple random sampling strategy whereby the customers of ANZ bank will be selected on randomly basis. The sample size that will be considered is a sample of 100 customers of ANZ bank in performing the data collection process.
Data Analysis: The collected data needs to be analysed in order to reach appropriate conclusion and in respect to the given research, the quantitative data as collected will be analysed through the application of diagrams and charts. This will provide the exact identification of customer satisfaction levels and thereby, better development of strategies can be ensured in achieving improved customer satisfaction (Lodico, Spaulding and Voegtle, 2010).
Description of Expected Research Outcomes
From performing this research on analysing the customer satisfaction level from the ANZ bank Australia, the research outcomes that are likely to achieve is mainly in terms of exact level of customer satisfaction from the services as provided by it. This implies that the areas whereby the customers are not satisfied will also be identified and the loopholes in the service delivery process as provided by bank will also be identified. The identification of findings in respect to all these areas will result into the development of appropriate strategies through which the delivery of services to customers can be enhanced and they can be satisfied in a better way. Overall, the attainment of findings from this research is likely to contribute in a positive manner towards assessing the overall customer satisfaction from the banking services in a positive manner.