IDENTIFYING KEY BARRIERS TO CUSTOMER RETENTION IN BANKING SECTOR OF PAKISTAN

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Volume 13 Issue 1 2017

Author(s):

Zaid Bin Khalid
Department of Business Administration, University of the Punjab, Gujranwala Campus.
zaid_125@hotmail.com

Naveed Iqbal Chaudhry
Department of Business Administration, University of the Punjab, Gujranwala Campus.

IqraArif
Department of Business Administration, University of the Punjab, Gujranwala Campus.
Abstract The purpose of this research is to find out the barriers to customer retention in the banking sector of Pakistan. This paper aims to enhance the understanding of the barriers that influence customer retention in banking organizations. A qualitative mathematical-based technique called interpretive structural modeling (ISM) is employed to identify the barriers and to understand the interaction and mutual relationships among them. Seven barriers to customer retention are identified through extensive literature review and subsequent opinions of experts from the banking industry and academia. Contextual relationships have been established and ISM based model is developed to represent the mutual interaction among diagnosed barriers. The matrix cross-reference multiplication applied to a classification (MICMAC) analysis has also been carried out to classify the nature of barriers according to their dependence and driving power. The adoption of ISM based hierarchal model in this study would help in understanding the barriers and provide useful insights to top managers and policymakers of the banking sector who want to focus and minimize these barriers to retain their customers for a longer period.
Keywords Banking Sector, Barriers, Customer Retention, Interpretive Structural Modeling
Year 2017
Volume 13
Issue 1
Type Short Report
Recognized by Higher Education Commission of Pakistan, HEC
Category "Y"
Journal Name IBT Journal of Business Studies
Publisher Name ILMA University
Jel Classification M30, M31
DOI http://dx.doi.org/10.46745/ilma.jbs.2017.13.01.11
ISSN no (E, Electronic) 2409-6520
ISSN no (P, Print) 2416-8393
Country Pakistan
City Karachi
Institution Type University
Journal Type Open Access
Type of Review Double Blind Peer Reviewed
Format PDF
Paper Link http://ibtjbs.ilmauniversity.edu.pk/journal/jbs/13.1/11.pdf
Page 133-147
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