Identifying and prioritizing factors affecting customer attraction

Dissertation for Master's Degree in Industrial Management

Financial Orientation

Abstract:

Since there are many factors that play a decisive role in the success of financial and service institutions, including banks, and the attraction of resources, deposits and customers is one of the main and most important issues that a banking system faces, therefore, the purpose of this research was to identify and prioritize the factors that influence the attraction of Sepeh Bank branches in Semnan. . This research was an applied research that was conducted among 8 branches of Sepeh Bank in Semnan city and field and library methods were used to collect information. The sampling method was a simple random type among the employees and customers of Sepe Bank branches in Semnan city. To answer the research questions, two series of questionnaires were distributed among bank employees and customers. Then, using the Kano model, it was classified into three categories: functional, functional, and motivational needs, and finally, it was prioritized using the hierarchical analysis method. From the comparison of the general results obtained from the analysis of these categories and priorities, it was found that there is a difference between their points of view. Some of these needs have been classified by the employees in the group of necessary needs but by the customers in the category of functional needs, or some of the needs are classified as motivational needs from the point of view of managers but as functional needs from the customers' point of view. Regarding the prioritization of research criteria, they agreed only in four cases. Security in the use of banking services in both groups ranked 1st, reputation ranked 19th, neatness of branches ranked 20th and increasing the number of bank branches ranked 21st. But in other factors, their points of view were very different from each other.  

Key words:

customer, customer attraction, customer orientation, customer satisfaction, Kano model

Introduction:

In today's era, banks like other organizations operate globally. Due to the advancement of technology, there have been tremendous changes in the banking system, which has provided the basis for growth and competition to attract more financial resources and customers. The most beneficial and appropriate strategy for banks is customer orientation. In fact, this sentence can be expressed a little stronger and say that the basis of the banking system is the customer. A customer in the bank is equal to at least one asset. Today, banks are obliged to see themselves in the mirror of the existence of customers and try to understand the demands and desires of their customers in an environment full of competition and make sure that the customer is completely satisfied with their organization. To realize customer orientation, many points should be taken into consideration, the most important of which is clear and explicit response to the daily needs of the customer, that is, the variety of services and the provision of new and innovative services. . . (Venus, Safaiyan, 1381, p. 37).

In modern banking, there are many factors that affect the attraction of customers, and identifying and determining the type of communication and their impact is one of the most important categories in the banking industry.

If the bank does not pay attention to the customers' wishes, it will definitely not be successful in meeting the material and spiritual goals of its customers. When a customer faces an obstacle in a branch, he tries to satisfy his needs in another bank, and due to the intense competition in the banking field, a bank that can satisfy the customer will be more successful (Venus, Safaiyan, 2011, p. 38).

Banks are required to identify the unmet needs of customers and implement them in the shortest possible time, which paves the way to achieve the goal and gain competitive advantage. make Since the attraction of customers in banks is one of the important concerns of managers in the banking system, therefore, in this research, an attempt has been made to investigate the factors affecting the attraction of customers in Sepeh Bank branches in Semnan city.

The customer in the banking system is different from companies and manufacturing and service institutions. In manufacturing companies, the customer who buys the product uses the purchased product at home, at work or in other places. Also, service companies end their relationship at this stage after providing services and receiving wages, while banks, as depository institutions or intermediaries between funds, on the one hand, collect excess capital or depositors' funds and provide them to consumers on the other hand.Therefore, bank branches should pay enough attention to attracting depositors and consumers (Farshi Nazari, Farshi, 2011, p. 12).

Finally, banks should guide the systems towards people's satisfaction. The bank's strategy in relation to the customer-centric issue should be based on a primary and basic principle, that everything starts with the customer and ends with the customer. This thinking should become a culture in the bank. At the same time, it should be noted that marketing has a wide scope that starts from the bank's CEO and ends with the bank's guards and employees. What is important in modern marketing is consensus and collective movement in the form of customer orientation (Venus, Safaiyan, 2011, p. 39).

1-2- Statement of the problem:

Increasing changes in banking in Iran lead to the entry of private and foreign competitors, which shows a change in the attitude of banks towards customers, profitability and the type of services provided. In order to attract and retain customers, it is necessary to determine their demands and provide services according to them (Abedian, 2014, p. 2).

In today's competitive world, with the expansion of banking, the need for dynamism and growth in the banking system is felt more than ever, and retaining, maintaining, loyalty, satisfaction, and attracting customers in banks has always been considered. Marketing and attracting customers in banks is considered one of the key and important issues because the more customers are attracted to a bank, the more the possibility of providing banking services and facilities for that bank will increase, and in general, it will lead to the prosperity of banks, which are the wheels of the society's economy. In this regard, it is important to understand these weaknesses and shortcomings and to respond quickly to the demands and needs of the customer. It should not be forgotten that dissatisfied customers are much more effective than satisfied customers. Customer orientation, customer satisfaction and attraction are considered the foundation of business and organizations that do not pay attention to this issue will gradually be removed from the competition scene (Sepeh Bank Monthly, 2018, p. 2). Failure to pay attention to the current customers of Soo Deh will attract them to other banks and it will be very difficult to bring back such customers. Protecting customers is a sign of optimal management (Abedian, 2014, p. 4).

The banking system in every country is a structural element, important and at the same time a vulnerable point in the economy. Therefore, improving and developing a healthy banking system in itself is a legitimate goal for macroeconomic policy. At the same time, the weakness in the banking system can limit the impact of macroeconomic measures in general and monetary policy in particular. Therefore, an arrangement should be adopted so that our banking can also take a step in the path of global developed banking and reduce its distance from them (Abbasian, 2011, p. 1). Because the status of deposits affects the liquidity and liquidity risk of banks, the amount of facilities granted, and as a result, the operational expenses and income of the bank. Therefore, knowing the factors that attract deposits can add to the bank's success in the mentioned fields (Farati, 2014, p. 5).

Given the good position of Sepeh Bank compared to other banks, sometimes we encountered the lack of access to the bank's set goals, or the overtaking of some banks, public or private institutions compared to Sepeh Bank, so in this research, it has been tried to examine and prioritize the factors affecting the attraction of bank customers.

1-3- The importance and necessity of research:

As we know that protecting assets is a sign of good management, but it should be noted that assets should not be limited to land, buildings, equipment, warehouses, etc. . . knew In fact, customers who receive services from bank branches and generate profit and income for them are also considered as resources and assets. Marketing experts recommend that managers should look at customers as an asset and their duty should be to attract, maintain, increase and improve relationships with customers (Ismailpour, 2012, p. 25).