Assessment Of Preference Decisive Factor Of Private Commercial Banks In Bangladesh: An Empirical Analysis On Young Generation
Md. Mahfujur Rahman, Mohammad Abdullah Al Mamun
Keywords: Choice criteria, Commercial banks, Financial services, Marketing strategy, Selection process, Young generation, Bank management
Abstract: This is an empirical analysis which depicts the preference significance of private commercial banks to establish the importance of various criteria that attracts the young customers. In here, this study segregates the different criteria which are significantly more important in inspiring selection over time and those which have been considerably less important. For this study, sample size was 1200 consumers aged 18-30 years of different university students, young entrepreneurs & professionals in Bangladesh. Mean, Std. Deviation and ANOVA have been used for the detail analysis of the data set. The important features of determining their bank selection are: Availability of ATM in several locations, bank’s reputation, paying highest interest rates on savings accounts, friendliness of bank personnel, low services charges and confidence in bank management. Gender differences do not play the vital role for the selection attitudes of bank and bank services as well. In particular, findings advocate that male and female customers as distinctive segments with various precedence may be important for their bank selection process. Commercial banks should take the appropriate marketing strategy for attracting the new customers specially the young generation which will motivate them to select bank as their potential service provider.
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