Customer Satisfaction with Metro Bank of the UK
Added on 2023-02-03
70 Pages16470 Words46 Views
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Dissertation
Table of Contents
RESEARCH PROPOSAL...............................................................................................................1
Introduction .....................................................................................................................................2
Aims and Objectives........................................................................................................................3
Preliminary Literature Review.........................................................................................................3
Concept of Customer Satisfaction...............................................................................................3
Expectation Disconfirmation Theory..........................................................................................4
Importance of Customer Satisfaction for Organisations.............................................................4
Significance of Customer Satisfaction in Banking Sector and Metro Bank of the UK..............5
Research Method.............................................................................................................................6
The Introduction of method is the following .............................................................................6
Research Approach.....................................................................................................................6
Research Design..........................................................................................................................6
Data Collection Method .............................................................................................................7
Sampling Size ............................................................................................................................7
Data Analysis Method ................................................................................................................7
Timescale.........................................................................................................................................8
Resources........................................................................................................................................8
RESEARCH PROJECT...................................................................................................................9
CHAPTER 2 : INTRODUCTION.................................................................................................10
2.1Background of the company ...............................................................................................10
2.2 Statement of problem ..............................................................................................................11
2.3 Research Aims and Objectives................................................................................................11
2.4 Research Questions..................................................................................................................11
CHAPTER 3 : LITERATURE REVIEW......................................................................................12
3.1 Concept of customer satisfaction........................................................................................12
3.1.2 Quality .............................................................................................................................13
3.1.3 Satisfaction ......................................................................................................................13
3.1.4 Value................................................................................................................................14
3.2 Theories related to customer satisfaction............................................................................14
RESEARCH PROPOSAL...............................................................................................................1
Introduction .....................................................................................................................................2
Aims and Objectives........................................................................................................................3
Preliminary Literature Review.........................................................................................................3
Concept of Customer Satisfaction...............................................................................................3
Expectation Disconfirmation Theory..........................................................................................4
Importance of Customer Satisfaction for Organisations.............................................................4
Significance of Customer Satisfaction in Banking Sector and Metro Bank of the UK..............5
Research Method.............................................................................................................................6
The Introduction of method is the following .............................................................................6
Research Approach.....................................................................................................................6
Research Design..........................................................................................................................6
Data Collection Method .............................................................................................................7
Sampling Size ............................................................................................................................7
Data Analysis Method ................................................................................................................7
Timescale.........................................................................................................................................8
Resources........................................................................................................................................8
RESEARCH PROJECT...................................................................................................................9
CHAPTER 2 : INTRODUCTION.................................................................................................10
2.1Background of the company ...............................................................................................10
2.2 Statement of problem ..............................................................................................................11
2.3 Research Aims and Objectives................................................................................................11
2.4 Research Questions..................................................................................................................11
CHAPTER 3 : LITERATURE REVIEW......................................................................................12
3.1 Concept of customer satisfaction........................................................................................12
3.1.2 Quality .............................................................................................................................13
3.1.3 Satisfaction ......................................................................................................................13
3.1.4 Value................................................................................................................................14
3.2 Theories related to customer satisfaction............................................................................14
3.2.1 Measurement of satisfaction............................................................................................15
3.2.2 Theories of customer satisfaction.....................................................................................15
3.3 Importance of customer satisfaction...................................................................................17
CHAPTER 4 : RESEARCH METHODOLOGIES ......................................................................20
4.1 Research approach..............................................................................................................20
4.2 Research design ..................................................................................................................21
4.3 Data collection method ......................................................................................................22
4.4 Sampling ............................................................................................................................23
4.5 Data analysis method .........................................................................................................24
4.6 Ethical consideration...........................................................................................................25
CHAPTER 5 : DATA COLLECTION PHASE............................................................................26
5.1 Introduction ........................................................................................................................27
5.2 Questionnaire .....................................................................................................................27
.......................................................................................................................................................33
CHAPTER 6 : DATA PRESENTATION AND ANALYSIS.......................................................34
CHAPTER 7 : PRESENTATION OF KEY FINDINGS ............................................................48
7.1 Introduction ........................................................................................................................49
7.2 Summery of research conclusions.......................................................................................49
CHAPTER 8 – RECOMMENDATIONS OR CONCLUSION ...................................................51
9. REFERENCES..........................................................................................................................54
APPENDIX....................................................................................................................................57
Bath Spa University Research Ethics Approval Form...................................................................59
3.2.2 Theories of customer satisfaction.....................................................................................15
3.3 Importance of customer satisfaction...................................................................................17
CHAPTER 4 : RESEARCH METHODOLOGIES ......................................................................20
4.1 Research approach..............................................................................................................20
4.2 Research design ..................................................................................................................21
4.3 Data collection method ......................................................................................................22
4.4 Sampling ............................................................................................................................23
4.5 Data analysis method .........................................................................................................24
4.6 Ethical consideration...........................................................................................................25
CHAPTER 5 : DATA COLLECTION PHASE............................................................................26
5.1 Introduction ........................................................................................................................27
5.2 Questionnaire .....................................................................................................................27
.......................................................................................................................................................33
CHAPTER 6 : DATA PRESENTATION AND ANALYSIS.......................................................34
CHAPTER 7 : PRESENTATION OF KEY FINDINGS ............................................................48
7.1 Introduction ........................................................................................................................49
7.2 Summery of research conclusions.......................................................................................49
CHAPTER 8 – RECOMMENDATIONS OR CONCLUSION ...................................................51
9. REFERENCES..........................................................................................................................54
APPENDIX....................................................................................................................................57
Bath Spa University Research Ethics Approval Form...................................................................59
RESEARCH PROPOSAL
1
1
Introduction
In the present contemporary business environment, it is essential for every business
organisation to satisfy their customers in order to attain their goals and objectives. Customers’
satisfaction is the key behind the success of an organisation, which improve the goodwill of an
organisation in the competitive business environment. In order to satisfy the customers, it is
imperative for an organisation to conduct a market research for identify the needs and wants of
customers, which helps an organisation to enhance the performance and productivity in the
current market. In addition to this, different organisations found it difficult to satisfy the
customers’ needs and wants because there is continuous change the demand of customers, which
has an adverse impact on the profitability and sustainability of an organisation. It is essential for
every organisation to facilitate the products and services in accordance with the needs and wants
of customers (Hill and Brierley, 2017). In this relation, customer satisfaction is identified as an
imperative aspect which is helpful in developing long-term relationship with customers. It is
difficult for every organisation to satisfy the needs, preferences, and wants of customer, which
have adverse impact on the profitability and sustainability in the competitive business
environment (Hill and Brierley, 2017). In this relation, Metro Bank is situated in the United
Kingdom, which is identified as a retail bank. The bank is mainly focused towards providing best
banking services to its customer in order to maintain relationship with its customers. In this
context, the research is mainly focused towards examining the customer relationship with Metro
Bank of the United Kingdom.
Metro Bank launched an online banking app for its customer, which helps customer to
make their life easier. It has been observed that the bank is providing after hours services to its
customer, which increases the level of satisfaction of customers. There retail bank store open
every days such as 7 days a week, and they provide 24/7 customer care services to their
customers, which help the organisation in gaining customer loyalty and enhance their
performance and productivity in the competitive business environment. Metro Bank facilitates
quick service to its customers, as they provide superquick opening of accounts and on the spot
printing card, which help he organisation in building the relationship with customers (Metro
Bank, 2018). In addition to this, the organisation also involved in the social activities, as every
year Metro bank host different charity events, which helps the organisation in developing
networking across the world. With the help of effective services, the organisation is gaining the
2
In the present contemporary business environment, it is essential for every business
organisation to satisfy their customers in order to attain their goals and objectives. Customers’
satisfaction is the key behind the success of an organisation, which improve the goodwill of an
organisation in the competitive business environment. In order to satisfy the customers, it is
imperative for an organisation to conduct a market research for identify the needs and wants of
customers, which helps an organisation to enhance the performance and productivity in the
current market. In addition to this, different organisations found it difficult to satisfy the
customers’ needs and wants because there is continuous change the demand of customers, which
has an adverse impact on the profitability and sustainability of an organisation. It is essential for
every organisation to facilitate the products and services in accordance with the needs and wants
of customers (Hill and Brierley, 2017). In this relation, customer satisfaction is identified as an
imperative aspect which is helpful in developing long-term relationship with customers. It is
difficult for every organisation to satisfy the needs, preferences, and wants of customer, which
have adverse impact on the profitability and sustainability in the competitive business
environment (Hill and Brierley, 2017). In this relation, Metro Bank is situated in the United
Kingdom, which is identified as a retail bank. The bank is mainly focused towards providing best
banking services to its customer in order to maintain relationship with its customers. In this
context, the research is mainly focused towards examining the customer relationship with Metro
Bank of the United Kingdom.
Metro Bank launched an online banking app for its customer, which helps customer to
make their life easier. It has been observed that the bank is providing after hours services to its
customer, which increases the level of satisfaction of customers. There retail bank store open
every days such as 7 days a week, and they provide 24/7 customer care services to their
customers, which help the organisation in gaining customer loyalty and enhance their
performance and productivity in the competitive business environment. Metro Bank facilitates
quick service to its customers, as they provide superquick opening of accounts and on the spot
printing card, which help he organisation in building the relationship with customers (Metro
Bank, 2018). In addition to this, the organisation also involved in the social activities, as every
year Metro bank host different charity events, which helps the organisation in developing
networking across the world. With the help of effective services, the organisation is gaining the
2
trust of its customers and it also help the organisation in attracting more customers towards the
banking services (Metro Bank, 2018).
The research study is fundamentally centred towards the determination of the customer
satisfaction with respect to the Metro Bank of the United Kingdom. The research topic is found
fascinating, as on this topic, there are less number of research researches is conducted; thus it
provides an opportunity to explore the topic more deeply. This research study will conduct an in-
depth investigation with respect to the research subject. This research study will eliminate the
existing research gap by providing detailed information in regards to the research study.
Aims and Objectives
The main aim of this research study is to examine the customer satisfaction with respect
to the Metro Bank of the United Kingdom. Customer satisfaction is a key aspect behind the
success of any organisation in the present environment. In this context, the research study will
mainly focus towards examining the role of customer satisfaction in an organisation. In addition
to this, some of the objectives are framed with respect to the research subject are presented
below:
To determine the concept of customer satisfaction in an organisation
To examine the expectation disconfirmation theory with respect to customer satisfaction
To investigate the importance of customer satisfaction for an organisation
To examine the significance of customer satisfaction in banking sector and Metro Bank
of the United Kingdom
Preliminary Literature Review
Concept of Customer Satisfaction
In the views of Hill and Brierley (2017), customer satisfaction is a term that is often used
by organisations under their marketing. Customer satisfaction is often defined as a measure that
is used to understand, whether the expectations of the customers are met or not (Hill and
Brierley, 2017). It is important for organisations to meet the needs and expectations of the
customers in the current scenario, as it helps the organisations to sustain in the competitive
business environment. Meeting the needs of the customers helps the organisations in satisfying
their customers and gaining loyal customers, which helps in the growth and success of the
organisation (Hill and Brierley, 2017).
3
banking services (Metro Bank, 2018).
The research study is fundamentally centred towards the determination of the customer
satisfaction with respect to the Metro Bank of the United Kingdom. The research topic is found
fascinating, as on this topic, there are less number of research researches is conducted; thus it
provides an opportunity to explore the topic more deeply. This research study will conduct an in-
depth investigation with respect to the research subject. This research study will eliminate the
existing research gap by providing detailed information in regards to the research study.
Aims and Objectives
The main aim of this research study is to examine the customer satisfaction with respect
to the Metro Bank of the United Kingdom. Customer satisfaction is a key aspect behind the
success of any organisation in the present environment. In this context, the research study will
mainly focus towards examining the role of customer satisfaction in an organisation. In addition
to this, some of the objectives are framed with respect to the research subject are presented
below:
To determine the concept of customer satisfaction in an organisation
To examine the expectation disconfirmation theory with respect to customer satisfaction
To investigate the importance of customer satisfaction for an organisation
To examine the significance of customer satisfaction in banking sector and Metro Bank
of the United Kingdom
Preliminary Literature Review
Concept of Customer Satisfaction
In the views of Hill and Brierley (2017), customer satisfaction is a term that is often used
by organisations under their marketing. Customer satisfaction is often defined as a measure that
is used to understand, whether the expectations of the customers are met or not (Hill and
Brierley, 2017). It is important for organisations to meet the needs and expectations of the
customers in the current scenario, as it helps the organisations to sustain in the competitive
business environment. Meeting the needs of the customers helps the organisations in satisfying
their customers and gaining loyal customers, which helps in the growth and success of the
organisation (Hill and Brierley, 2017).
3
As opined by Hill and Alexander (2017), in the current scenario, globalisation has
increased the competition in the market, which requires the organisations to develop various
strategies and adopt different tactics that can help them in sustaining their position in the market
and growing. Customer satisfaction is one of the major tools that can be adopted to grow and
succeed in the market (Hill and Alexander, 2017). The main key behind customer satisfaction is,
understanding the needs of the customers and meeting those needs, in order to satisfy the
customers with the help of products or services (Hill and Alexander, 2017).
Expectation Disconfirmation Theory
According to Oliver (2014), expectation disconfirmation theory is one of the preferred
theories to analyse the level of customer satisfaction in hotel and tourism industry. Expectation
disconfirmation theory states that every consumer has certain pre-purchase expectations
regarding the products or services they are buying. These pre-purchase expectations are
regarding the performance of the products or services. It is important that the organisations
understand the pre-purchase expectations of their customer so that the performance expectations
of the customers can be met (Oliver, 2014). This will also result in setting up a standard for the
products or services. With the help of expectation disconfirmation theory, the level of customer
satisfaction can be measured. This can be done by analysing the level of performance on the
basis of the expectations of the customers. If the expectations of the customers match the
outcomes, then confirmation occurs regarding the customer satisfaction. However, if the
outcomes do not match the expectations of the customers, then disconfirmation occurs (Oliver,
2014). Therefore, as per the theory, customer satisfaction can be measured in the form of
negative or positive by analysing the satisfaction or dissatisfaction level of the customers.
Organisations can adopt the expectation disconfirmation theory, in order to analyse the level of
customer satisfaction by examining the outcomes matching the expectations of the customers.
This can result in improved performance of the organisation in the market (Oliver, 2014).
Importance of Customer Satisfaction for Organisations
In the views of Hill and Alexander (2017), for an organisation, customer satisfaction can
be considered as the key to the organisation's success. This is due to the fact that customer
satisfaction helps the organisations in creating a long-term relationship with the customers. This
relationship is helpful for the organisation in sustaining their position in the market and
improving their image (Hill and Alexander, 2017). In the current competitive and dynamic
4
increased the competition in the market, which requires the organisations to develop various
strategies and adopt different tactics that can help them in sustaining their position in the market
and growing. Customer satisfaction is one of the major tools that can be adopted to grow and
succeed in the market (Hill and Alexander, 2017). The main key behind customer satisfaction is,
understanding the needs of the customers and meeting those needs, in order to satisfy the
customers with the help of products or services (Hill and Alexander, 2017).
Expectation Disconfirmation Theory
According to Oliver (2014), expectation disconfirmation theory is one of the preferred
theories to analyse the level of customer satisfaction in hotel and tourism industry. Expectation
disconfirmation theory states that every consumer has certain pre-purchase expectations
regarding the products or services they are buying. These pre-purchase expectations are
regarding the performance of the products or services. It is important that the organisations
understand the pre-purchase expectations of their customer so that the performance expectations
of the customers can be met (Oliver, 2014). This will also result in setting up a standard for the
products or services. With the help of expectation disconfirmation theory, the level of customer
satisfaction can be measured. This can be done by analysing the level of performance on the
basis of the expectations of the customers. If the expectations of the customers match the
outcomes, then confirmation occurs regarding the customer satisfaction. However, if the
outcomes do not match the expectations of the customers, then disconfirmation occurs (Oliver,
2014). Therefore, as per the theory, customer satisfaction can be measured in the form of
negative or positive by analysing the satisfaction or dissatisfaction level of the customers.
Organisations can adopt the expectation disconfirmation theory, in order to analyse the level of
customer satisfaction by examining the outcomes matching the expectations of the customers.
This can result in improved performance of the organisation in the market (Oliver, 2014).
Importance of Customer Satisfaction for Organisations
In the views of Hill and Alexander (2017), for an organisation, customer satisfaction can
be considered as the key to the organisation's success. This is due to the fact that customer
satisfaction helps the organisations in creating a long-term relationship with the customers. This
relationship is helpful for the organisation in sustaining their position in the market and
improving their image (Hill and Alexander, 2017). In the current competitive and dynamic
4
business environment, it is required by the organisations to deliver value and time to the
customers, which helps them in understanding the needs of the customers and delivering the
customers with the products that they expect. It will help in improving the level of customer
satisfaction and improves the profitability of the organisation (Hill and Alexander, 2017).
As per Uysal and Williams (2013), in the era of globalisation, the organisation requires
expanding their brand by taking the brand into foreign markets. Brand and its value can be
improved easily with the help of high level of customer satisfaction (Uysal and Williams, 2013).
In the present environment, customers tend to share content over social media. If the customers
will be satisfied, then they will share positive content over social media, which can help the
brand in expanding into foreign markets. This is also beneficial in standing out in the competitive
market and gaining success (Uysal and Williams, 2013).
Significance of Customer Satisfaction in Banking Sector and Metro Bank of the UK
As per Shanka (2012), the banking services provided to the customers are complex and
require the banking organisations to pay attention towards the services provided to the customers
and satisfy their needs. In the banking sector, it can be observed that the competition has
increased, where the service differentiation lacks (Shanka, 2012). Therefore, it is important for
the banking organisations to develop significant strategies that can help them in improving the
level of customer satisfaction. This can also include improving the quality of service, value for
customers and enhancing customer loyalty. In the banking industry, substitutes are available at
large number; therefore, it becomes necessary for the banking organisations to retain their
customers by understanding their expectations and fulfilling them (Shanka, 2012).
Okumus and Genc (2013) stated that globalisation has increased the level of competition
in every sector and has impacted the operations of the organisations. This is because the
organisations have to focus on the tactics to fulfil the needs of the customers (Okumus and Genc,
2013). In the banking sector, the level of competition has increased to a great extent; this requires
the banking organisations to develop strategies that can help in enhancing the level of customer
satisfaction and retaining the customers. Retention of customers can help in growth and success
of the banking organisations (Okumus and Genc, 2013).
As presented in the report of CMA (2015), it has been explored that customer satisfaction
has become the key for the success of the banking organisations in the current scenario. Banking
organisations try to develop different strategies regarding customer satisfaction, in order to retain
5
customers, which helps them in understanding the needs of the customers and delivering the
customers with the products that they expect. It will help in improving the level of customer
satisfaction and improves the profitability of the organisation (Hill and Alexander, 2017).
As per Uysal and Williams (2013), in the era of globalisation, the organisation requires
expanding their brand by taking the brand into foreign markets. Brand and its value can be
improved easily with the help of high level of customer satisfaction (Uysal and Williams, 2013).
In the present environment, customers tend to share content over social media. If the customers
will be satisfied, then they will share positive content over social media, which can help the
brand in expanding into foreign markets. This is also beneficial in standing out in the competitive
market and gaining success (Uysal and Williams, 2013).
Significance of Customer Satisfaction in Banking Sector and Metro Bank of the UK
As per Shanka (2012), the banking services provided to the customers are complex and
require the banking organisations to pay attention towards the services provided to the customers
and satisfy their needs. In the banking sector, it can be observed that the competition has
increased, where the service differentiation lacks (Shanka, 2012). Therefore, it is important for
the banking organisations to develop significant strategies that can help them in improving the
level of customer satisfaction. This can also include improving the quality of service, value for
customers and enhancing customer loyalty. In the banking industry, substitutes are available at
large number; therefore, it becomes necessary for the banking organisations to retain their
customers by understanding their expectations and fulfilling them (Shanka, 2012).
Okumus and Genc (2013) stated that globalisation has increased the level of competition
in every sector and has impacted the operations of the organisations. This is because the
organisations have to focus on the tactics to fulfil the needs of the customers (Okumus and Genc,
2013). In the banking sector, the level of competition has increased to a great extent; this requires
the banking organisations to develop strategies that can help in enhancing the level of customer
satisfaction and retaining the customers. Retention of customers can help in growth and success
of the banking organisations (Okumus and Genc, 2013).
As presented in the report of CMA (2015), it has been explored that customer satisfaction
has become the key for the success of the banking organisations in the current scenario. Banking
organisations try to develop different strategies regarding customer satisfaction, in order to retain
5
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