ALLANA MANAGEMENT JOURNAL OF RESEARCH, PUNE - Volume 3, Issue 2, July 2013 - December, 2013

Pages: 13-20
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INFORMATION SEARCH : AN EMPIRICAL STUDY AMONG
RETAIL BANKING CUSTOMERS IN INDIA

Author: Dr. G. Ramasundaram, Dr. B. Aiswarya

Category: Human Resource Management

Abstract:

Ever since the entry of new private sector banks in the wake of economic reforms in 1991, the competition has become very tough for getting a pie in
retail banking segment in India. In order to attract consumers of retail
banking, a competent bank has to frame a strategy which warrant understanding of
consumer buying behavior especially information search phase of consumer
behavior. Hence, this study has attempted to identify the source of information and
analyze the level of usefulness thereof in selection of bank by collecting information
from 895 retail credit customers. The sample size covered all spectrums of customer
profiles such as age, income, education, and gender. Using ANOVA and independent T
test, it has found the significant differences among various segments in terms of
perception on level of usefulness of different information sources.

Keywords: Retail banking, advertisement, family and friends, financial advisor, pamphlets, previous dealings and shopping around.