Critereas Employed by Sri Lankan Customres in Selecting Finace Firms: An Empirical Study
The very dynamic nature of the service industry competition influences marketers to identify the customer base more effectively. Financial institutes in Sri Lanka should identify the needs of existing and potential customer base to reach the expectations profitably. In this process it is very much important to know what factors influence the customers in selecting the service provider in the finance industry. This study focuses on examine the factors influencing in selecting a finance firm as their service provider in Sri Lankan market. A total of 377 customers were selected using convenient sampling technique to find the influence on eight independent factors extracted from existing literature. Reliability analysis, factor analysis and multiple linier regression analysis were conducted in reaching the research objectives. Findings reveal that the principal factors influencing in selecting finance firms are reputation, easy banking process, bank appearance, convenience, bank staff, word of mouth advertising and quality of service. more interestingly cost of the service show insignificant for Si Lankan customers.
Keywords; Customer Base, Finance Industry, Influencing Factors