Faculty of Commerce, Law and Management (ETDs)
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Item A theoretical analysis of how the enhancement of social media utilization can improve customer experience in South African retail banks(University of the Witwatersrand, Johannesburg, 2020) Rapitsi, LebohangPurpose: The banking industry has seen a rapid shift with the emergence of digital banks and non-direct competitors, as a result banks have responded with increased focus on the use of technology in efforts to defend market share. There is currently a lack of empirical evidence which relates to how the enhancement of social media usage by South African retail banks can improve customer experience. The purpose of this study is to examine empirical evidence to support the predictor effects of customer perception, service quality, customer satisfaction, with the aim of enhancing customer experience in retail banks by utilizing social media platforms. Design/Methodology/ Approach: The empirical study was of a quantitative nature, whereby factors pertaining to customer perceptions, service quality, customer satisfaction and customer experience were assessed accordingly. The sample consisted of 62 respondents from the various retail banks in South African. Various statistical tests were initiated in order to understand the relationships between the abovementioned variables. Findings: The results from the study indicate a positive relationship between customer satisfaction as a predictor of customer experience on social media platforms. The findings also suggest although there may be associations between service quality and customer perceptions with customer experience, they are however not significant. Implications: It is critical for retail banks to continue to seek innovative ways to improve customer experience. The benefit of utilizing social media platforms is that it allows for banks to establish valuable interactions with customers whilst leveraging information in order to understand the needs of their customersItem Service quality, customer satisfaction and customer retention: a case of private banking in South Africa(University of the Witwatersrand, Johannesburg, 2022) Phakathi, Nyameka; Saruchera, FannyWhile significant studies exist on service quality, customer satisfaction and customer retention in private banking, little focus has been placed on young professionals within private banking in South Africa. Using the SERVQUAL model, guided by the study’s objectives, the study aimed to assess the impact service quality has on customer satisfaction, examine the impact of service quality on customer retention and establish service quality perceptions held by customers in relation to the value of private banking. Furthermore, the study sought to examine the relationships between customer satisfaction and customer retention in the context of private banking in South Africa. The integrative nature of the research strategy, design and philosophy prompted using quantitative research methodologies, drawing theoretical constructs from extant literature on service quality, customer satisfaction and customer retention. Quantitative analysis was used to determine the impact of service quality on customer satisfaction and customer retention, collecting data through self-administered questionnaires distributed to 281 private bank customers. The study found that while service quality is a significant determinant of customer satisfaction, tangibles and empathy have the most negligible impact and that service experience positively impacts customer satisfaction. In addition, while digital adoption is highest amongst young professional customers, the study found that human factors linked to three service quality dimensions, i.e., responsiveness, reliability, and assurance, significantly affect customer satisfaction and require particular focus in private banking. The study’s findings have significant repercussions for re- shaping service quality in private banking for young professionals. The study offers a framework that integrates three service quality theories that can be utilised as a guide for improving service quality in private banking in South Africa and other countries, thereby increasing the knowledge base in the area of young professional banking. Future research could focus on the impact of employee competency, loyalty and brand image on customer satisfaction and retention.Item The effect of loyalty programmes on customer loyalty in the retail banking sector in South Africa(University of the Witwatersrand, Johannesburg, 2021) Olifant, Daniella; Dlamini, SiphiweIt is estimated that there are more than 100 loyalty programmes in operation in South Africa, with retail programmes dominating the loyalty landscape. However the banking sector has seen many of its banks embark on this journey and introduce loyalty programmes as part of their service offering. While there has been a great amount of research on loyalty programmes, little has been done to see if indeed a loyalty programme, in the traditional sense, has resulted in customer retention and loyalty in the banking sector. This study therefore examines the effect of loyalty programmes on the South African retail banking sector by assessing whether the usage of these programmes has had a direct influence on customer satisfaction, perceived service quality, brand reputation, and ultimately loyalty towards the bank. The methodology used a self-administered questionnaire and data was collected from 220 participants who have an active bank account in South Africa and are currently making use of their bank loyalty programme. The study tested eight hypotheses using the Structural Equation Modelling (SEM).The software used was the SPSS version 21 and Amos version 21 for analysis. The findings of the study reveal that loyalty programmes have a positive influence on service quality and customer satisfaction. This study contributes to the literature on loyalty programmes in the banking sector. It can assist marketers in developing sound loyalty programmes aimed at the banking sector. A discussion on the limitations and directions on future research is providedItem Employee perceptions of internal marketing and service quality at a South African University(2021) Zuma, Buhle NResearch into service quality suggests that internal marketing is a solution that companies can use to deliver consistent service quality and maintain a competitive edge. However, studies have presented varying findings into the effectiveness of internal marketing in enhancing employee behaviour (Altarifi, 2014) which determine service quality. This study examines four elements of internal marketing–namely leadership, communication, training, rewards and recognition, and their influence on employee satisfaction, organisational commitment which are drivers of service quality. The study provides insight into the perceptions of professional administrative staff, a group of employees, whose job-related attitudes are overlooked by research focusing in higher education (Pitman, 2000). The study involved a sample of 254 staff members at a University in South Africa. Data was collected using a self-administered survey distributed electronically. The hypothesised relationships were tested using Amos-based structural equation modelling. The study found that the correlation between internal marketing and service quality is positive but weak. This means the internal marketing programme at the institution is not highly effective. Negative job satisfaction is recorded and yet the results also show positive organisational commitment. The study concludes that organisations should evaluate the impact of their internal marketing elements regularly to assess their impact in building the desired employee attitudes and work outcomes. The study also contributes to discussions about service quality in higher education and the findings are useful for practitioners who wish to promote service quality