Global Journal of Management and Business Research, E: Marketing, Volume 23 Issue 2

Table 4: Paired Difference t-test Paired Samples Test Paired Differences T Df Sig. (2-tailed) 95% Confidence Interval of the Difference Pair Factors Mean SD Std. Error Mean Lower Upper Pair 1 Existing Basic Service- Expected Basic Service -.11 .99 .09 -.29 .06 -1.23 119 .221 Pair 2 Existing Advanced Service – Expected Advanced Service -.21 1.27 .11 -.44 .01 -1.86 119 .065 Pair 3 Existing Cost and Prestige – Expected Cost and Prestige -.09 1.18 .10 -.30 .11 -.87 119 .384 Pair 4 Existing Customer Satisfaction – Expected Customer Satisfaction -.03 1.32 .12 -.27 .20 -.31 119 .752 Pair 5 Existing Customer Loyalty – Expected Customer Loyalty .10 1.25 .11 -.12 .32 .88 119 .376 V. Discussion on Results Paired sample t -statistics of the study shows that there is no significance difference between the existing and expected services of commercial banks of Bangladesh in terms of basic service, advanced service, cost and prestige, customer satisfaction and customer loyalty. The results of the paired difference t-test showed that the quality of services offered to the customers of commercial banks do not vary between existing and expected services i.e. the hypotheses designed to find out significant differences between the existing and expected service factors in terms of basic service, advanced service, cost and prestige, customer satisfaction and customer loyalty have been rejected. Although the banking sector needs has become more diverse and exotic than ever before, the choice between existing and expected service quality does not vary and has positive effect on customer satisfaction and customer loyalty. VI. C onclusions and R ecommendations For retaining existing customers and to convert them as loyal customers, the banking industry offers the most attractive and unique service features which are better than competitors do for maximizing the perceived customer satisfaction in a highly competitive market- place. From the customers’ perspective, service quality significantly influences customer satisfaction and customer satisfaction has direct influences on loyalty. Research findings indicate that service quality influences existing services than focusing on expected services as change is dynamic and need not to focus on closing the gap because service nature is frequently changing. It is therefore imperative on the part of bankers to stress upon both service quality and customer satisfaction, in order to raise the retention intentions of customers. Organization’s success is associated with concentration to customer and provide better service to the customers that leads to higher customer satisfaction and ultimately to gain the corporate objective. While, quality service is essential in today’s competitive market. The objective of this study was to identify the gap between existing and expected service quality of commercial banks in Bangladesh. Although there is no significant differences in existing and expected services, the researcher also tried to recommend some issues for improving service quality of the commercial banks of Bangladesh. • The commercial banks of Bangladesh needs to pay much attention on the customer complaints in order satisfy the customer’s expectation. • In order to retain the existing customers and to improve service quality, bank should continuously maintain error-free transactions, since bank accounts and figures are very sensitive for each and every customer. • The management of the bank should regularly run research activities in order to keep a regular track of customer satisfaction level. As customer expecta- tions and satisfaction are not static figures, regular research at sufficient intervals should be conducted. • Since bank is a service oriented organization, hence providing continuous training to the employees on issues like courtesy, etiquette and communication skills while dealing with customers is of immense importance. • Bank authority should develop a systematic assessment program to monitor service quality, perceived value and satisfaction of customer. Influence of Service Quality Dimensions in Commercial Banks of Bangladesh: Existing vs Expected 26 Global Journal of Management and Business Research Volume XXIII Issue II Version I Year 2023 ( )E © 2023 Global Journals