Luận văn thạc sĩ tiếng anh customer satisfaction assessment for quality of customer service at thinh vuong commercial jointstock bank

NATIONAL ECONOMIC UNIVERSITY BUSINESS SCHOOL E-BBA PROGRAM ận Lu n vă CUSTOMER SATISFACTION ASSESSMENT FOR QUALITY OF CUSTOMER SERVICE AT THINH VUONG COMMERCIAL JOINTSTOCK BANK ạc th sĩ ic Tà h n hí Bachelor of Business Administration in English (E-BBA) Thesis Supervisor : Associate professor Ph.D Vu Thanh Hung Student : Nguyen Tu Anh Class : E-BBA 7A HANOI, 2019 ACKNOWLEDGEMENT ận Lu This thesis has been completed at Vietnam Prosperity Joint Stock Commercial Bank In order to get this essay, I would like to express my sincere and deepest gratitude to Vietnam Prosperity Commercial Joint Stock Bank Lang Ha , the business department and especially to thank Mrs Minh Huyen for his direct wholeheartedly guide and help me Thanks to these valuable guidance, during the process of deploying, researching and completing the assigned topic in the best way I would like to express my sincere thanks to my teachers have directly or indirectly taught to convey useful scientific knowledge to myself in the past years and especially my instructor Ph.D Vu Thanh Hung has made valuable comments, helping me to complete this research paper I would like to send my deepest gratitude to the bank for creating all favorable conditions to help me collect data and necessary research materials related to the graduation topic easily and conveniently I would like to acknowledge the effort and valuable and enthusiastic contributions of you who have contributed their ideas and helped me to develop, investigate and collect the data In order to achieve the success of this thesis, first of all belong to the school and society, which has facilitated instruction and help for children, especially the encouragement and encouragement of the family's deep sympathy Finally, I look forward to receiving the contributions, comments and criticisms from the teachers and all readers n vă ạc th sĩ h n hí ic Tà TABLE OF CONTENTS ACKNOWLEDGEMENT ABBREVIATIONS LIST OF MODEL .6 LIST OF TABLE EXECUTIVE SUMMARY .8 CHAPTER INTRODUCTION .9 1.1 Rationale 1.2 Research objective .10 1.3 Research question .10 Lu 1.4 Research methodology .10 ận 1.5 Research scope 11 1.6 Report structure 11 2: vă CHAPTER THEORICAL BACKGROUND ON CUSTOMER n th SATISFACTION TOWARD SERVICE QUALITY OF VPBANK AND ạc RESEARCH MODEL OF CUSTOMER CARE SERVICE 12 2.1 Service, service quality and customer care 12 sĩ 2.1.1 Service .12 Tà 2.1.2 Service quality 13 ic 2.1.3 Customer care 14 n hí 2.2 Customer satisfaction 18 h 2.2.1 Defination of customer satisfaction 18 2.2.2 Factor affect customer satisfaction 19 2.3 The relationship between quality of service and customer satisfaction 20 2.4 Some previous model of facrtor affecting customer satisfaction 20 2.4.1 Gronroos model .20 2.4.2 Fingure of antecedents and mediator model 22 2.4.3 Servqual model .22 2.4.4 Customer satisfaction index model 23 2.5 Proposed research framework of factor effecting customer satisfaction .24 2.6 Scale of quality customer service according to the SERVQUAL model 26 CHAPTER CONCLUSION 29 CHAPTER 3: CUSTOMER SATISFACTION AT VPBANK 30 3.1 VPBank Overview .30 3.1.1 Formation and development history 30 3.1.2 Network system .33 3.2 Overview about VPBank Langha .35 3.2.1 Field of activity .35 3.2.2 Main product 36 3.2.3 Business situation 37 3.2.4 Business segment 39 Lu 3.2.5 Company structure 42 ận 3.2.6 Personnel structure 43 3.2.7 SWOT analysis .44 vă 3.3 Customer satisfaction assessment on VPBank’s service 47 n th 3.3.1 Sample description 47 ạc 3.3.2 Evaluate the scale by Cronbach Alpha coefficient analysis method 55 3.3.3 Evaluate scale by EFA discovery analysis method 59 sĩ Tà 3.3.4 Testing the scale set by regression analysis .63 3.4 Current status of customer care at VPBank 68 ic n hí 3.4.1 General policy on customer care at VPBank 68 3.4.2 Particular processes and activities 69 h 3.4.3 Activities of organization 72 3.4.4 Influent factors 74 3.5 Strength and weakness in customer care policies .75 3.5.1 Strength 75 3.5.2 Weakness 75 3.5.3 Cause of weakness 76 Chapter conclusion 76 CHAPTER 4: SOLUTION TO ENHANCE CUSTOMER SATISFACTION FOR VPBANK CUSTOMER CARE SERVICE AT LANG HA 77 4.1 Development orientation of VPBank Lang Ha 77 4.2 Solution to enhance quality of customer care of VPBank Lang Ha 77 4.2.1 Solution to enhance competence of employee 78 4.2.2 Solution to enhance employee motivation .80 4.2.3 Investment in facilities solution .82 4.2.4 Enhancing technology solution .83 Chapter conclusion 86 CONCLUSION .87 REFERENCE 88 Appendix 90 Appendix 2: SPSS results 93 ận Lu n vă ạc th sĩ h n hí ic Tà ABBREVIATIONS EFA Exploratory Factor Analysis KMO Kaiser – Meyer – Olkin VIF Variance inflation factor SPSS Statistical Package for the Social Sciences Sig Significance VPBank Vietnam Prosperity Commercial Joint Stock Bank ận Lu n vă ạc th sĩ h n hí ic Tà LIST OF MODEL Model 2.1: Service quality model by Lassar & ctg(2000) 16 Model 2.2: Gronroos Model 21 Model 2.3: Antecedents Model of Service Quality 22 Model 2.4: Parasuraman et al Model 23 Model 2.5: VCSI theory model 24 Model 2.6: Proposed research model 26 Model 3.1: Company structure 42 ận Lu LIST OF FIGURE vă n Figure 3.1: Gender of respondents 48 Figure 3.2: Age of respondents 48 Figure 3.3: Occupation of respondents 49 Figure 3.4: income of repondents 50 ạc th sĩ h n hí ic Tà LIST OF TABLE ận Lu Table 2.1: scale of quality customer service according to SERVQUAl model 27 Table 2.2 Scale of customer satisfaction according to Lassar & Ctg (2000) .28 Table 3.1 Mobilization situation of VPBank Lang Ha branch 37 Table 3.2 Lending situation of VPBank Lang Ha Branch 38 Table 3.3 Business result of VPBank Lang Ha 38 Table 3.4 personnel structure of VPBank Lang Ha 43 Table 3.5: Descriptive statistic 50 Table 3.6: Descriptive Statistics 52 Table 3.7: Frequency of dependent variable Q1 53 Table 3.8: Frequency of dependent variable Q2 53 Table 3.9: Frequency of dependent variable Q3 54 Table 3.10: Cronbach alpha coefficient of customer service scale at the counter under SERVQUAL model 56 Table 3.11: Cronbach alpha coefficient of customer service scale at the counter under SERVQUAL model for responsibility variable .57 Table 3.12: Cronbach alpha coefficient of customer service scale at the counter under SERVQUAL model for empathy variable .58 Table 3.13: Cronbach alpha coefficient of customer service scale at the counter under SERVQUAL model for tangibility variable 58 Table 3.14 Cronbach alpha coefficient of the scale component reflects customer care service .59 Table 3.15: KMO and Bartlett's Test 60 Table 3.16: Rotated Component Matrixa 61 Table 3.17: KMO and Bartlett's Test 62 Table 3.18: Factor analysis of EFA of sub-variables in the scale reflects the Bank's customer care service .62 Table 3.19: Correlations 64 Table 3.20 Assumption of regression model 65 Table 3.21: Model Summaryb 65 Table 3.22: ANOVAa 65 Table 3.23: Coefficientsa 66 Table 3.24: gift giving activities of Vpbank .71 n vă ạc th sĩ h n hí ic Tà EXECUTIVE SUMMARY ận Lu The globalization trend of the world economy has impacted significantly on the current level of competition, not only competing within a country but also expanding to neighboring areas and the world More and more domestic and foreign companies can provide the same products and services Attracting customers is vital for the existence of the business The purpose of this thesis is to study customer satisfaction with service quality components in SERVQUAL model at Vietnam Prosperity Commercial Joint Stock Bank Lang Ha branch There are many articles on this topic in the world and also in Vietnam but the author wants to clarify this and especially with the prosperous Vietnamese joint stock commercial bank This thesis addresses main issues: pointing out the current situation of customer care in VPBank, finding out factors affecting customer care status here, which factors affect most from that and solutions to improve service quality here By using quantitative research using questionnaire surveys, research shows the internal problems related to the quality of customer care and their satisfaction By referring to previous research models, the author presents a model consisting of four independent variables that strongly affect customer satisfaction: responsibility, reliability, empathy and tangibility Quantitative research methods are used in the thesis by investigating and processing data such as descriptive statistics, scale test, factor analysis, correlation analysis and regression Software supports processing is SPSS software 25.0 The questionnaire was designed with 27 questions, of which 24 questions answered the factors affecting customer satisfaction, the remaining questions reflected the quality of the bank's service The number of responses used in the study after eliminating unsatisfactory answers is 165 Currently, VPBank is expanding its network continuously, so employees need to be continuously trained to provide the best quality customer service Customer care policies of VPBank are not enough to ensure that customers feel satisfied and loyal to the bank, so the research has pointed out the most important factors to improve the quality of such services which is empathy and tangibility From there, the author gives some solutions to improve these two things The first is to improve the quality of employees, so that employees understand and empathize with customers more Next is to improve facilities and improve technology so that customers are always served by the most advanced means, creating a pleasant and convenient feeling for customers n vă ạc th sĩ h n hí ic Tà CHAPTER INTRODUCTION ận Lu 1.1 Rationale The competitive situation in the banking sector is increasingly strong and fierce With the participation of many types of credit institutions such as financial companies, non-bank financial institutions, savings funds, insurance companies The degree of competition among banks more aggressive with the participation of foreign banks, foreign financial institutions that have many financial resources, technology, professional level One of the biggest challenges with today's banking system is its competitiveness With the opening of the market and the development of science and technology, in the field of banking has been the fierce competition between joint stock commercial banks, state banks and foreign banks to provide services on Vietnam financial market In a fierce competitive environment, customers are the key to the survival of the bank Banks that have a strategy to attract new customers, attract the attention and loyalty of customers, the bank will develop sustainably How to bring the best customer satisfaction is the most important issue that banks are trying to implement In addition, for retail banking, retail banking occupies an important position in the bank's business In the retail banking development process, the bank focused not only on high-income individuals but also on the middle-income segments This orientation has made the battle in the retail market more and more fierce Therefore, in order to successfully compete in the retail market, banks need to focus on improving the quality of their services, and research to find solutions to improve service quality is essential In addition, customer satisfaction will influence the creation of the system Loyal customers are essential to maintaining regular activities Bank nor does any bank guarantee that loyal customers will survive long or throughout Each customer is considered "spiritual child" This means that the bank must consider maintaining the relationship, taking care of the customer more so that they will be loyal Thus, improving service quality, improving customer satisfaction will contributing to increase competitiveness and improve business performance Topic "Customer Satisfaction Assessment for Quality of Customer Service at Thinh Vuong Commercial Joint Stock Bank" was carried out some solutions for enhancing quality service of this bank n vă ạc th sĩ h n hí ic Tà [11] Lewis.R.C.,& Booms, B.H (1983), The marketing aspects of service quality In Berry, L., Shostack, G.,& Upah, G.(Eds) Emerging Perspectives on Service Marketing Chicago, IL: American marketing, 99-107 [12] Parasuraman, A., Zeithaml, V.A., and Berry, L.L (1985) “A conceptual model of service quality and its implications for future research”, Journal of Marketing, 49, Fall [13] Parasuraman, A.,Zeithaml, V.A and Berry, L.L (1988) “SERVQUAL: A multiple-item scale for measuring consumer perceptions of service quality”, Journal of Retailing, 64(1), Spring ận Lu [14] Lee and Hwan, 2005 Relationship among service quality, customer satisfaction and profitability in the Taiwanese banking industry International Journal of Management, Vol.22 No.4, pp 635-648 n vă ạc th sĩ h n hí ic Tà 90 Appendix Questionaire ận Lu Section A: Demographic information of customer What is your gender? a Male b Female What is your age ? a Under 31 years old b From 31 to 40 years old c From 41- 50 years old d Above 50 years old What is your current occupation ? a Businessman b Officer c Trader d Teacher e Other What is your monthly income ? a Under million dong b From to million dong c From to million dong d From to 10 million dong e Above 10 mil Section B: Factor influencing customer satisfaction toward customer care service of VP Bank Lang Please indicate your agreement on a scale from to with the following scale: (1) Absolutely disagree (2) Disagree (3) Normal (4) Agree (5) Absolutely agree n vă ạc th sĩ h n hí ic Tà 91 Critertia When VPBank promises to something at a certain time, the bank it correctly When customer get trouble, VPBank expresses sincere concern in solving problems VPBank has implemented the right service for the first time VPBank provides the right service at the time the bank promises to perform? VPBank secure personal information and transactions? The behavior of VPBank’s staff increases the trust of customers with it VPBank's staffs tell customer when the service will be available VPBank’s staffs quickly implement service for customer VPBank's staffs are never too busy to meet customer requirements ận Lu n vă ạc th sĩ Tà 10 VPBank solve all issue of customer when they get trouble 12 n hí ic 11 VPBank’s staffs are always willing to serve customer h Customer feel safe when having transaction with vpbank 13 VPBank has cutting-edge facilities 14 The facilities of VPBank look attractive and convenient 15 The staff of VPBank has a neat and polite uniform 16 VPBank's brochures related to the service are designed beautifully with plentiful information 17 VPBank’s staffs are polite, welcome to implement transaction with customers 18 VPBank staff is knowledgeable enough to answer customer questions 92 19 VPBank expresses concern to customers 20 VPBank has employees who help customer solve problem anytime 21 VPBank's staff understands your special needs 22 VPBank pay special attention to your most interests 23 VPBank has convenient transaction time 24 Customers are always consulted the most suitable product and service 25 Customers are always consulted the most suitable product and service Lu 26 The willingness to introduce services to others when asked 27 Commitment to continue using the service ận n vă ạc th sĩ h n hí ic Tà 93 Appendix 2: SPSS results Descriptive statistic Gender Frequenc y Percent Valid female Valid Percent Cumulative Percent 91 55.2 55.2 55.2 male 74 44.8 44.8 100.0 Total 165 100.0 100.0 Lu ận age Valid Percent Cumulative Percent 68 41.2 41.2 41.2 41-50 40 24.2 65.5 above 50 18 th 24.2 10.9 10.9 76.4 under 31 39 23.6 23.6 100.0 100.0 100.0 ạc sĩ 165 Valid businessma n 94 Valid Percent Cumulative Percent h occupation Frequenc y Percent n hí ic Tà Total n Valid 31-40 vă Frequenc y Percent 4.8 4.8 4.8 officer 60 36.4 36.4 41.2 other 18 10.9 10.9 52.1 teacher 18 10.9 10.9 63.0 trader 61 37.0 37.0 100.0 Total 165 100.0 100.0 income Frequenc y Percent Valid Valid Percent Cumulative Percent 3.6 3.6 3.6 3-5 mil 11 6.7 6.7 10.3 5-8 mil 70 42.4 42.4 52.7 8-10 mil 43 26.1 26.1 78.8 above 10 mil 34 20.6 20.6 99.4 6 100.0 165 100.0 100.0 under mil ận Lu Total vă Q1 n Frequenc y Percent Cumulative Percent 13.9 13.9 13.9 21 12.7 12.7 26.7 57 34.5 22 34.5 61.2 13.3 Tà sĩ 74.5 42 25.5 25.5 100.0 165 100.0 100.0 13.3 h n hí ic Total ạc 23 th Valid Valid Percent Q2 Frequenc y Percent Valid Percent Cumulative Percent Valid 4.2 4.2 4.2 4.8 4.8 9.1 68 41.2 41.2 50.3 33 20.0 20.0 70.3 49 29.7 29.7 100.0 165 100.0 100.0 Total 95 Q3 Frequenc y Percent Valid Percent Cumulative Percent Valid 20 12.1 12.1 12.1 17 10.3 10.3 22.4 60 36.4 36.4 58.8 24 14.5 14.5 73.3 44 26.7 26.7 100.0 165 100.0 100.0 Total ận Lu 165 2.44 1.266 R2 165 2.51 1.218 R3 165 2.25 R4 165 2.47 R5 165 2.35 1.130 R6 165 2.39 1.248 RP1 165 3.94 1.103 RP2 165 3.60 1.204 RP3 165 3.82 1.280 RP4 165 3.79 1.178 RP5 165 3.68 1.183 RP6 165 4.05 1.047 E1 165 2.76 1.240 E2 165 2.36 1.284 E3 165 2.62 1.313 E4 165 2.48 1.467 E5 165 2.60 1.447 sĩ 1.155 1.337 h n hí ic 96 ạc R1 Tà Mean Std Deviation th N n vă Descriptive Statistics 165 2.61 1.052 T1 165 3.76 1.189 T2 165 3.56 1.160 T3 165 3.52 1.328 T4 165 3.53 1.177 T5 165 3.47 1.300 T6 165 3.50 1.286 Q1 165 3.24 1.338 Q2 165 3.66 1.085 Q3 165 3.33 1.304 Valid N (listwise) 165 ận Lu E6 vă n Cronbach’s Alpha cofficient th ạc Item-Total Statistics Scale Scale Mean Variance if Corrected if Item Item Item-Total Deleted Deleted Correlation sĩ 11.96 21.974 717 R2 11.90 24.581 499 R3 12.16 24.475 549 R4 11.94 21.033 756 819 R5 12.06 23.265 692 833 R6 12.01 22.049 723 826 97 827 n hí R1 h ic Tà Cronbach's Alpha if Item Deleted 866 856 Item-Total Statistics Scale Scale Mean Variance if Corrected if Item Item Item-Total Deleted Deleted Correlation Cronbach's Alpha if Item Deleted RP1 18.94 21.704 671 849 RP2 19.28 20.361 737 836 RP3 19.06 20.667 645 854 RP4 19.09 22.669 513 875 RP5 19.19 20.206 772 830 RP6 18.83 21.837 704 844 Lu ận Item-Total Statistics Scale Scale Mean Variance if Corrected if Item Item Item-Total Deleted Deleted Correlation n vă th Cronbach's Alpha if Item Deleted 12.67 27.346 767 851 E2 13.06 27.765 696 862 E3 12.81 28.255 E4 12.95 E5 E6 ạc E1 872 26.540 Tà sĩ 634 868 12.82 25.451 773 849 12.82 30.235 648 871 670 h n hí ic 98 Scale Mean if Item Deleted Scale Variance if Item Deleted Cronbach's Alpha if Item Deleted Corrected Item-Total Correlation T1 17.57 25.015 730 858 T2 17.78 25.797 676 867 T3 17.82 25.625 575 885 T4 17.81 26.218 623 875 T5 17.86 23.755 763 852 T6 17.84 23.296 819 842 ận Lu Item-Total Statistics Scale Scale Mean Variance if Corrected if Item Item Item-Total Deleted Deleted Correlation n vă Cronbach's Alpha if Item Deleted ạc th 4.055 Q2 6.57 6.759 Q3 6.90 4.227 840 581 432 967 Tà 6.99 sĩ Q1 596 830 h n hí ic KMO Index and analysis of EFA explosion factors KMO and Bartlett's Test Kaiser-Meyer-Olkin Measure of Sampling Adequacy Bartlett's Test of Sphericity 99 Approx Chi-Square 806 2197.592 df 210 Sig .000 Total Variance Explained Extraction Sums of Rotation Sums of Squared Initial Eigenvalues Squared Loadings Loadings % of Cumulative % of Cumulative % of Cumulative Component Total Variance % Total Variance % Total Variance % 5.397 25.701 25.701 5.397 25.701 25.701 3.989 18.996 18.996 3.747 17.844 43.545 3.747 17.844 43.545 3.455 16.452 35.448 3.138 14.943 58.488 3.138 14.943 58.488 3.383 16.110 51.559 1.876 8.935 67.423 1.876 67.423 3.331 15.864 67.423 964 4.592 72.015 748 3.564 75.579 649 3.090 78.669 589 2.803 81.472 541 2.574 84.046 10 453 2.159 86.206 11 434 2.067 88.273 12 381 1.816 13 355 1.690 91.779 14 330 1.570 93.348 15 299 1.424 94.773 16 283 1.345 96.118 17 240 1.141 97.259 18 221 1.050 98.309 19 191 911 99.220 20 112 533 99.753 21 052 247 100.000 8.935 n vă 90.089 ạc th sĩ h n hí ic Tà 100 ận Lu Rotated Component Matrixa Component 834 E1 827 E2 790 E6 759 E4 752 E3 880 825 n T2 904 vă T5 679 ận T6 Lu E5 T4 711 ạc 741 th T1 RP6 815 RP1 806 RP3 761 823 R4 806 R1 788 R5 773 R3 729 101 h R6 n hí 830 ic RP2 Tà 864 sĩ RP5 KMO index and factor analysis EFA of the dependent variable: KMO and Bartlett's Test Kaiser-Meyer-Olkin Measure of Sampling Adequacy Bartlett's Test of Sphericity 587 Approx Chi-Square 374.213 df Sig .000 ận Lu n vă 74.351 74.351 706 23.544 97.895 063 2.105 2.231 2.231 sĩ ạc th Componen t Total Variance Explained Initial Eigenvalues Extraction Sums of Squared Loadings % of Cumulative % of Cumulative Total Variance % Total Variance % 100.000 Q3 946 Q2 656 102 h 951 n hí Q1 ic Tà Component Matrixa Componen t 74.351 74.351 Correraltion and regression analysis Correlations REALIA RESPONSIB EMPAT TANGIBI SATISFA BILITY ILITY HY LITY CTION -.052 356** 078 404** 507 000 320 000 165 165 165 165 165 -.052 -.141 111 220** 071 156 005 REALIABIL Pearson ITY Correlation Sig (2-tailed) N Sig (2-tailed) 507 N 165 165 165 165 165 356** -.141 -.276** 307** 000 000 ận Pearson Correlation 165 165 165 165 078 111 -.276** 382** 156 Tà 000 165 ic 165 165 165 n hí 382** Sig (2-tailed) 320 N 165 220** Sig (2-tailed) 000 005 N 165 165 307** h 404** SATISFACT Pearson ION Correlation 103 165 sĩ TANGIBILI Pearson TY Correlation 071 ạc N 000 th Sig (2-tailed) n vă EMPATHY Lu RESPONSIB Pearson ILITY Correlation 000 000 000 165 165 165 Model Summaryb Adjusted R Std Error of R Square Square the Estimate Model R 660a 435 421 DurbinWatson 98910 1.836 ANOVAa Sum of Squares Model Regressio n df 120.582 ận Lu Mean Square 30.145 978 156.530 160 Total 277.112 164 Sig .000b 30.814 n vă Residual F ạc th Coefficientsa sĩ Model 104 (Constant) -1.936 510 REALIABILI TY 327 085 RESPONSIBI LITY 323 EMPATHY TANGIBILIT Y t Sig -3.794 000 h n hí ic Tà Unstandardized Coefficients B Std Error Standardize d Coefficients Beta 249 3.846 000 082 237 3.932 000 467 085 373 5.515 000 564 081 439 6.943 000