Impact of Customer Service in Financial Service Sector in India

Y. Kesava  Reddy

Y. Kesava Reddy Professor, Department of Management, GATES Institute of Technology, Andhra Pradesh, India

Keywords: customer services, financial services, Indian market services, service sector, marketing

Abstract

In today's increasingly competitive service industry, where the number of service providers has increased, the importance of providing high-quality service cannot be overstated. Due to the unique characteristics of many services, such as the simultaneous production and consumption of the "product" and the involvement of contact personnel in the creation of quality in the service product, many service organisations are now developing customer care programmes, often as a means to achieve competitive advantage. However, customer service must be viewed as part of a larger "internal marketing" strategy, in which all employees are encouraged to focus on the company's customers and work together to achieve their goals. This is especially true when it comes to delivering excellent service to customers. This article will examine service quality from a marketing viewpoint, with special attention paid to customer satisfaction. The inseparability of the seller's identity from the provision of most services will be emphasised. The importance of internal marketing in service-based businesses and how they may define and quantify service quality to better serve their customers will be discussed and illustrated.

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