CUSTOMERS SATISFACTION ON PRODUCTS AND SERVICE DELIVERY:
A CASE STUDY OF G T  BANK PLC
ABSTRACT
Customer, it is said “is the king in any business”. Therefore their satisfaction is the key discourse among service marketing. This study attempts to examine the impact of customer satisfaction on bank products and service delivery in contemporary times with specific reference to GT Bank customers in Uniben and Uselu Branch, Benin City.
    Prior to the several banking reforms era in Nigeria, there has been inadequate and poor products and service delivery. Customers were dissatisfied and were at the receiving end. Banks decides or dictates what products and service they give to their customers, sometimes delays in transactions with various complaints without quick resolution. Hence, this research study.
    Four (4) Hypothesis were developed to test customers response /satisfaction to bank products and service delivery. A total number of two hundred (200) questionnaires were sent out to elicit response from customers but one hundred and ninety-five (195) were returned by the respondents. A simple regression analysis for the purpose of estimation and econometric examination were used. Findings revealed that product and service and delivery, such as internet banking, POS, ATM and Bank employees attitude on customers had a positive significant relationship with customers satisfaction.
    In conclusion, the findings revealed that respondents were satisfied with various bank products and good service delivery to their customers.
TABLE OF CONTENTS
CHAPTER ONE
 Introduction    -    -    -    -    -    
1.1 Background of the study    -    -    -    -    -    
1.2 Statement of research problem    -    -    -    -    
1.3 Objectives of the study    -    -    -    
1.4 Significance of the study    -    -    -    -    
1.5 Statement of research question    -    -    -    
1.6 Statement of hypotheses    -    -    -    -
1.7 Scope of the study    -    -    -    -    -
    1.8 The limitations of the study    -    -    -
1.9 Definition of terms    -    -    -    -
CHAPTER TWO
Literature Review    -    -    -    -    -
2.0 Introduction    -    -    -    -    -
2.1Theoritical frame work on customer satisfaction    -    
2.2 Customer satisfaction    -    -    -    -    
2.3 The concept of product and service quality    -    
2.4 The role of bank employee and customer satisfaction    -
2.5 Internet banking and customer satisfaction     -
2.6 Products and service delivery on customer satisfaction    -    
2.7 Customer relationship marketing    -    -    
2.8 Bank policies and customers satisfaction    -    -    
CHAPTER THREE
Methodology    -    -    -    -    
3.0 Introduction    -    -    -    -
3.1 Research design    -    -    -    -    -
3.2 Population and sampling    -    -    -    
3.3 The research instrument    -    -    -    
3.4 Measurement of variables    -    -    
3.5 Model specification    -    
3.6 Method of data analyses    -    -    -
CHAPTER FOUR
Data Presentation and Analyses    -    -    -
4.0 Introduction    -    -    -    -    -
4.1 Data analyses and interpretation    -    -    -    
4.2 Demographic data on the respondents    -    
4.3.2 Correlation matrix    -    -    -    -
4.3.3    Regression result    -    -    -    
CHAPTER FIVE    
Summary of findings, conclusion and recommendations    -
5.0 Introduction    -    -    -    -
5.1 Summary of findings    -    -    -    
5.2 Conclusion    -    -    -    -
5.3 Recommendations    -    -    -    
Bibliography    -    -    -    -    -    
Appendix    -    -    -    -    -
LIST OF TABLES
Table 4.1: Respondents age    -    -    -
Table 4.2: Respondents sex    -    -    -    -
Table 4.3: Respondents qualification    -    -    -    -
Table 4.4: Respondents banking experience    -    -
Table 4.5: Respondents marital status    -    -    -
Table 4.6: Descriptive statistics of variables    -    -    -    
Table 4.7: Correlation matrix    -    -    -    -    -    -
Table 4.8: Estimation of variables    -    -    -    
CHAPTER ONE
 INTRODUCTION
1.1 BACKGROUND OF THE STUDY
It is believed that the goal of every organization is to meet the needs and as rations of its stakeholders. Meeting these needs and aspiration of the stakeholders will not only ensure the survival of the organization but also allow it to flourish. Customers are the most important stakeholders in any organization because without them, organizations are not likely to succeed.
Organization must focus on what customers’ needs and wants are so as to be able to satisfy their needs for patronage and build good customers relationship that last longer because without them, organizations are not likely to succeed.
    Loyal customers are valuable asset. This is particularly so in mature markets were other sources of competitive advantage can be quickly eroded, hence, it is not surprising that many banks are adopting customers responsive strategies, which use detailed information’s about customers to tailor or design products and services that meet their satisfaction. The aim is to ensure that the most valuable customer receive the best treatment that meet his/her satisfaction.
To ensure customers satisfactions, organization (Banks) try to adopt customers’ responsive strategies that are far easier to conceive and implement within organization whose history inclines them towards a relationship mindset of a clean start without the drag of history and past practice before the banking reform era.
Although, these strategies are difficult to implement but when they work, they are source of a powerful competitive advantage that are very difficult for rival banks to imitate. This customer’s responsive strategy is bound to have advantage to the bank if it delivers superior customers value by personalizing the interactions, demonstrates trustworthiness between the bank and customers and also tightens connection with its customers. It is clearly noted that the effects of customers’ behavior or satisfaction on the performance of the banking sector are perceptible. Given that the contemporary customers are more informed than ever before, LeBoreuf (1987) posited that meeting their expectation is increasingly becoming more difficult. They want to get value for their money as they perceived it. Given the relatively high incidence of poverty which is around 54.0 (CBN, 2009). Consumers in Nigeria were found to be dissatisfied with the quality of services/products provided by banks (Woldie, 2003). Again these call for investigation on how customers behave with regards to the charges of commercial banks in Nigeria. Service quality is the result of human interaction between the service provider and the customer (Liu, 2005).
1.2    STATEMENT OF RESEARCH PROBLEM:
    One of the challenges of modern banking is to understand their customers’ needs so as to respond to such needs and wants with a view to satisfy customers and to achieve their organizational short and long term goal.
    Before the banking reform in 1980s, there has been inadequate banking products and poor service delivery. Customers were dissatisfied and were at the receiving end. Banks decides on what products are service they give to their customers, sometimes, delays in customer transaction with various complains without quick resolution. This creates a disequilibrium gap between customers’ needs and banks product and service delivery. As a result of these customers were not satisfied.
This research work is intended to examine the extent to which customers are satisfied with bank products and service delivery using Guarantee Trust Bank customers in University of Benin and Uselu Branch, Benin City as a case study.
1.3    OBJECTIVES OF THE STUDY
    The main objective of this study is to examine the role of product and types of services delivery that satisfy Guarantee Trust Bank Customers.  Other objectives are:
To determine how internet banking affects customers’ satisfaction.
To ascertain how bank employees attitude toward customers affect customers satisfaction.
To determine the degree at which new product and service delivery are design to meet customers’ satisfaction.
To ascertain how bank policies affect customers satisfaction.
1.4    SIGNIFICANCE OF THE STUDY
    The importance of product and services delivery has not been fully appreciated in most organization. It is hoped that the result of this study will serve as a practical tool to guide banks in the designing of various products and services that will satisfy customers’ needs and wants always. It will help the bank to   compete favorably with its competitors and give them competitive edge over others which will also make them to increase customers brand loyalty as well as increase in turn over and profitability. It will also be useful to future researchers who are conducting research into similar areas as it will add to scholarly knowledge.
1.5    STATEMENT OF RESEARCH QUESTION
This study seeks to provide answers to the following question:
To what extent can products and services delivery increase customers’ satisfaction?
To what extent does internet banking affects customers’ satisfaction?
To what extent can the role of Bank employees’ attitude toward customers affect customers’ satisfaction?
To what extent can bank discover and design a new product/service delivery that meets customer’s satisfaction?
1.6    STATEMENT OF HYPOTHESES
    In order to achieve the objective raised above, the following hypotheses were formulated below in a null and alternative form to guide the study: Each hypotheses will be tested with a non-parametric statistical method, and each statement will be tested in negative and positive form. A null hypothesis (H0) represents the negative form, while alternative hypotheses (H1) represent positive form.
HYPOTHESES I
H0 Product and service delivery will affect customer satisfaction.
HI Product and service delivery will not affect customer satisfaction.
HYPOTHESES II
H0 Internet banking will affects customer’s satisfaction
HI Internet banking will not affect customers’ satisfaction
HYPOTHESES III
H0 GT Bank employees attitude affect customers satisfaction
HI  GT Bank employee’s attitude does not affect customers satisfaction
HYPOTHESES IV
Ho GT Bank Innovativeness increases customers’ satisfaction
HI GT Bank Innovativeness does not increase customers’ satisfaction.
1.7    SCOPE OF THE STUDY
    The researcher attempts to investigate products and services delivery on customer satisfaction. The scope of this study covers customers’ satisfaction on products and service delivery of Guarantee Trust Bank PLC in Benin City.
1.8    THE LIMITATIONS OF THE STUDY
    It is doubtful if there has been or will ever be any research work that runs smoothly through without presenting some challenges to the researcher. There was challenge in terms of dearth of relevant literatures. More so, time and finance constitutes limitations faced by the researcher, the hostile nature or unwillingness on the part of the Guarantee Trust Bank staff to give out information freely, in contrast, these limitations did not in the end invalidate the findings of this study as most setback s will be controlled.
1.9    DEFINATION OF TERMS
Customer Satisfaction: This is a marketing term that measure how products or services supplied by a company meets or surpasses Customer’s expectation.
Product: This is anything that can be offered to a market that might satisfy a want or need.
Services Delivery: This is a Component of business that defines the interaction between providers and clients where the provider offers a services, whether that be information or a task, and the client either find value or loses value as a result.
Point of Sale Machine (POS): This is a small device given to business owners by banks to enable their customers make payment directly to their bank account without going to the bank. The customer inserts his/her automated teller machine card and types the amount for the transaction and the amount is deposited directly into the business owner account without carrying physical cash to the bank.
Internet Banking: Is an electronic payment system that enables customers of a financial institution to conduct financial transaction on a website operated by the institution, such as a retail bank, virtual bank, credit union or building society.