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Exploring Customer Satisfaction Monitoring In Banking Services In Montenegro (Istraživanje Zadovoljstva Klijenata U Biznis Praksi Banaka U Crnoj Gori)

Author

Listed:
  • Milorad Jovović
  • Bojana Femić-Radosavović
  • Nikola Mišnić
  • Ivana Jovović

Abstract

Customer satisfaction is traditionally considered as the overall positive response generated after the use of a specific product or service. In modern marketing theory and practice, the aspiration to create a satisfied customer is the originating point, as well as the ultimate goal of marketing and general business strategies of companies in competitive markets. This study identifies what companies do to examine if they fulfill customers’ needs and achieve the proclaimed goal. The objective of this study is to empirically test to which extent is the concept of orientation towards creating satisfied customers actually present in banking services in Montenegro. More specifically, we raise the question to which extent have the banks in Montenegro created conditions for monitoring customer satisfaction,and if they are measuring it indeed. Namely, only in that way it is possible to determine whether the goal of creating satisfied customers is realized. In order to address this research question, we have conducted surveys based on direct (face to face) semi-structured interviews with managers in banks (chief executives and marketing managers/customer relationship managers), and used the insights from already created procedures of monitoring customer satisfaction and previously done research in that field.

Suggested Citation

  • Milorad Jovović & Bojana Femić-Radosavović & Nikola Mišnić & Ivana Jovović, 2016. "Exploring Customer Satisfaction Monitoring In Banking Services In Montenegro (Istraživanje Zadovoljstva Klijenata U Biznis Praksi Banaka U Crnoj Gori)," Ekonomske ideje i praksa, Faculty of Economics and Business, University of Belgrade, issue 23, pages 19-34, December.
    • Handle: RePEc:beo:ekidpr:y:2016:i:23:p:19-34
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    References listed on IDEAS

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    1. Bloemer, JoseM. M. & Kasper, Hans D. P., 1995. "The complex relationship between consumer satisfaction and brand loyalty," Journal of Economic Psychology, Elsevier, vol. 16(2), pages 311-329, July.
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    More about this item

    Keywords

    monitoring customer satisfaction; banking services; marketing practices; marketing strategies in banking services;
    All these keywords.

    JEL classification:

    • M31 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Marketing

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