Customer Satisfaction – A Comparative Study Among New and Old Generation Private Banks

Banking scenario is undergoing rapid changes in new improved technology. Due to development of technologies bankers changed the way of interaction and the services provided to the customers. Quality of service has become a popular area and has been recognized to satisfy the relationships with customers. The banks are very particular and identifying their needs for their customer and develop new strategies to separate themselves from competitors and provide a services with high technology and innovative products. Many banks are channelling more efforts to retain existing customers rather than to acquire new ones, since the cost of acquiring new customer is more than cost of retaining the customer. The present study focuses on satisfaction of customers in old and new generation private banks in Coimbatore city. A total sample of 250 respondents has been considered from ten old and new generation private sector banks. The result founds that respondents who are older in their age are less satisfied with the banking services and also respondents who are in the higher income groups are found to have less satisfaction score.