Customer Satisfaction in Banking Sector: The Case of North Cyprus

Modern business world is very much competitive and the success in the competition completed mainly through giving satisfaction to the eventual customer. In service concerned industry, it is not easy to set a standard rule to satisfy consumer. Customer satisfaction offers for organizations to improve relationships with their customers so allowing the companies to achieve their objectives for long term success. To achieve a customer satisfaction, company should have better service quality, because service quality and customer satisfaction have positive relations. Also there is another relationship between satisfied customer and customer loyalty. This study considers the current pattern of customer satisfaction in the North Cyprus banking industry. A questionnaire survey was administered to 255 bank customers in North Cyprus. Software SPSS 22.0 was used to analyze the data gathered from the survey. The results demonstrate that the most important factor for customer satisfaction is the wide availability of bank branches, and the factor most associated with customer dissatisfaction is the high prices of products and services. The study further gives suggestions for policymaking and possible areas for future research.