Are Retail Banks Satisfying Their Customers in Costa Rica?

Global Journal of Business Research, Vol. 1, No. 2, pp. 73-86, 2008

14 Pages Posted: 27 Aug 2009 Last revised: 4 May 2011

See all articles by Laura Hart-Kozloski

Laura Hart-Kozloski

affiliation not provided to SSRN

Jose Lopez

Texas A&M University (TAMU), Commerce

Mercedes Jalbert

The Institute for Business and Finance Research

Terrance Jalbert

University of Hawaii - Department of Business Administration

Alison Rampersad

affiliation not provided to SSRN

Date Written: 2008

Abstract

Retail banks serving ethnically diverse customer bases are challenged to measure up to differing perceptions of service quality. While there is existing research about customer satisfaction and service quality in the banking industry around the world, there are no clear conclusions as to the most important service quality dimensions for satisfying bank customers. Moreover, there is little published work about the similarities or differences with which ethnically diverse customers view the service aspect of retail banking. This study examines the perceptions of four specific ethnic groups about how service quality dimensions contribute to their satisfaction with retail banking in Costa Rica. Costa Rica was a logical research location given the large number of expatriates living and working there as well as its own ethnically diverse citizenry. We find that as a group ten service quality dimensions have a moderate positive correlation with customer satisfaction. Each of the four ethnic groups showed significant differences in their perceptions of the importance of each dimension to their satisfaction. In fact, among the four groups, no commonalities existed in how they ranked their three most important dimensions. The findings in this study provide targeted information for bank managers and others working to improve satisfaction levels of specific groups of the ethnically diverse customer population in Costa Rica and elsewhere.

Keywords: Banking, Customer Satisfaction, Costa Rica

JEL Classification: G2

Suggested Citation

Hart-Kozloski, Laura and Lopez, Jose and Jalbert, Mercedes and Jalbert, Terrance and Rampersad, Alison, Are Retail Banks Satisfying Their Customers in Costa Rica? (2008). Global Journal of Business Research, Vol. 1, No. 2, pp. 73-86, 2008 , Available at SSRN: https://ssrn.com/abstract=1461876

Laura Hart-Kozloski

affiliation not provided to SSRN ( email )

Jose Lopez

Texas A&M University (TAMU), Commerce ( email )

2600 South Neal Street
Commerce, TX 75428
United States

Mercedes Jalbert

The Institute for Business and Finance Research ( email )

P.O. Box 5569
Hilo, HI 96720
United States

HOME PAGE: http://www.theIBFR.com

Terrance Jalbert (Contact Author)

University of Hawaii - Department of Business Administration ( email )

808-974-7456 (Phone)

Alison Rampersad

affiliation not provided to SSRN ( email )

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