Factors influencing customer’s retention in the Tanzania commercial banks: The case of selected commercial banks in Dar es Salaam region.

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Date
2013
Journal Title
Journal ISSN
Volume Title
Publisher
University of Dar es Salaam
Abstract
The study assessed the factors influencing customers’ retention in the Tanzania commercial banks in Dar es Salaam Region. A sample of 66 respondents was selected from the selected commercial banks. Purposive sampling as a type non – probability sampling was used to select the respondents. Data were collected enough questionnaires and interviews. Data were analyzed both qualitatively and quantitatively. Questionnaires were analyzed using the software package for social sciences (SPSS) The study findings revealed that credibility of the bank to customers and corporate image were available and attracted customers to continue getting banking service from the selected commercial banks. It reveals that commercial banks maintained corporate image and provided effective services to the customers and provided reliable services. Furthermore, the findings revealed that communication assisted the banks to retain customers despite the fact that the selected commercial banks differed according to the level of product development. The study found out that switching barriers to the customers was important in reducing their defection. On the other hand, the study findings reveal that there were divided opinions among the respondents on the availability of banks and customers’ value compatibility despite of the important role it plays in customer’s satisfaction and retention. From the findings of the study, a number of recommendations has been provided in order for banks to reduce customer’s defection. These include making sure that degree of credibility to the customers is increased, making sure banks’ values are matched with customers values, maintaining strong corporate image to the customers and other stake holders, providing services of higher quality to meet the customers’ expectations and maintaining strong communications at all levels of their product development.
Description
Available in printed form, East Africana Collection, Dr. Wilbert Chagula Library, Class mark (THS EAF HG1616.C87T34A44)
Keywords
Banks and Banking, commercial, Customer services, Dar es Salaam region, Tanzania
Citation
Allen, U. (2013) Factors influencing customer’s retention in the Tanzania commercial banks: The case of selected commercial banks in Dar es Salaam region. Master dissertation, University of Dar es Salaam. Dar es Salaam.