Analysis of Gap Measurement of Various Dimensions of SERVAQUAL Model in context to Indian Banks

Abstract To improve the reputation and customer loyalty, a benchmarking analysis is being carried out, which influences the perception of the service quality for banks. With the expansion of competitive interactions, the results can serve as a strategic tool to gain competitive advantage and customer satisfaction. Banks reveal the expectations and expectations of customers regarding the quality of selected services. The process creates and expands its reputation and builds customer loyalty. This research aims to compare the perception of the quality of four leading banks with logical comparisons.


Introduction
Customer satisfaction is one of the most important factors in the economy. For commercial banks, customer satisfaction distinguishes one bank from another, so it is imperative to measure customer satisfaction (Zopounidis, 2002). Owing to this banks listen to customer requests and wing to this complaint. A profitable business cannot exist without satisfied customers, especially in the service sector.
This work focuses on the shores of Indore City which employs more than 25,000 people and operates in Indore City. The primary objective of the study is to measure the current level of customer satisfaction for services provided by Indore Banks (public and private commercial banks). The research is conducted to demonstrate customer expectations that are critical to the successful growth of the business. The performance of bank staff is also examined, as the team influences customer satisfaction. The study can be used to improve the quality of service in the future.
The purpose of this work is to analyze customer satisfaction with the banking services offered by the public and private commercial banks of Indore. The goal of this work is also to reveal the expectations of customers by sending them a questionnaire. After analysing the results, proposals will be made to further improve the services of state and private commercial banks in Indore. This paper also addresses the reasons and factors that influence customer satisfaction. The research is combined with a customer satisfaction questionnaire to find a logical solution and make suggestions to improve the current situation.
Every industrial age has its philosophy to find a competitive advantage over its competitors. This race was primarily about creating values that competitors have not yet exploited. In the 18th and 19th centuries, manufacturing added value to raw materials. At the beginning of the 20th century, one could witness the industrial revolution and mass production (Vargo and Lush, 2004). Marketing was, therefore, an area mainly related to distribution. It was not until the 1950s that marketing became as well-known as it is today to understand and satisfy consumer needs (Wilkie and Moore, 2003).
In this study, numerous interesting conclusions have evolved. The demographic profile of the bank customer is defined for public banks, private banks and foreign banks. Demographic profiles inform marketers about the type of customers. The expectations of consumers are put to public banks, private banks and foreign banks. The consumer has high expectations of the quality of the service, namely the reliability, the perception of the consumer and the experience that the consumer experiences when purchasing the service. This is explored for different dimensions of quality of service. The difference between consumer expectations and their perception was called a service gap. The higher the service gap, the lower is the quality of service. Consumer behaviour towards public banks, private banks and foreign banks helps marketers understand the factors that influence a bank's buying post-buying behaviour or both concerning the banking sector.

Literature review
To improve reputation and customer loyalty, performance is benchmarked, so that service quality affects banks. With the expansion of competitive interactions, the results can serve as a strategic tool to gain competitive advantage and customer satisfaction. Banks reveal the expectations and expectations of customers regarding the quality of selected services. This exercise creates and expands its reputation and builds customer loyalty. This research aims to compare the perception of the quality of the four leading banks with logical comparisons. Table 1 represents the list of research papers with the methodology used by the authors.
Service quality is "a global assessment or attitude about the superiority of the service" (Parasuraman, Zeithaml and Berry, 1988). Service quality has attracted much attention in recent decades due to the significant impact on business performance, cost reduction, customer satisfaction and customer loyalty among practitioners, managers and researchers, and profitability. All of these topics were studied in 1992 by Cronin and Taylor;Chang and Chen in 1998 under research on the definition, modelling, measurement, data acquisition, data analysis, etc.

Methodology: SERVAQUAL Measurement
The SERVQUAL model was developed by Parasuraman, Zeithaml and Berry (1988) to identify five different gaps between customer expectations and a company's service. Customer expectations mean their desires and hopes before service and perceptions mean an evaluation of the service provided. If the expectations are higher than the actual benefits, the customer is not satisfied. On the contrary, the smaller these gaps are, the better the quality of service. As shown in Figure 3, the model measures five gaps to analyse service quality from the customer's perspective.
GAP 1 -Expected service -Management perception of consumer expectations: GAP 1 shows the gap between client expectations and how management perceives these expectations. The gap occurs when management does not understand the wishes and wishes of customers. This is probably the case in companies when customer satisfaction studies are not functional. Besides, the bureaucracy is responsible for a big gap because it represents an inefficient means of communication. In order to avoid this gap, a company must always perform different searches and take into account the expectations of customers. A company aware of this gap must look for the best ways to communicate with its customers and to become aware of their expectations. Further, to reduce this gap, a company must strive to establish close relationships with its customers, avoid many levels of management, and develop effective communication. (Zeithaml, Bitner and Gremler, 2010) GAP 2 -Management perception -service specifications See the works of the family, with the best ratings of the world, and the best of quality, with the most famous works. GAP 2 No comments yet on this product, which has not yet cost you time. You are already registered in this area. (Parasuraman, A).

GAP 3 -Service Delivery Gap
Even if a company has filled in the first two gaps, GAP 3 is displayed if the company does not provide the services in the manner required by customers. The difference indicates that the service provided did not meet the standards. This is a failure in the analysis and comparison of supply and demand and inefficient staff policy. To fill this gap, companies must focus their strategies on providing excellent services. More specifically, the service is provided when he is motivated and can provide a quality service. A company should hire people who have the skills and interest to do the job. Then the company should reward and encourage employees to retain them. (Maglio, Kieliszewski, 2010) Teamwork and collaboration are essential elements that the company should take into account (Zeithaml et al. 2005).

GAP 4 -Service Delivery -External Communications
If a company has made every effort to fill the above gaps, customer expectations may not be met if the service provided does not match the communication. GAP 4 can also be described as a communication deficit: if companies offer services in different media, customers expect the quality of service offered. Otherwise, customers are not satisfied and feel that the quality of service is low. As a result, companies need to focus on developing strategies to reach customers to deliver services in the right way (Gupta S et al., 2006).

GAP 5 -Expected Service -Perceived Service
The previous gaps are created by GAP 5, which defines the difference between the expected services and the service being served. The key to closing GAP 5 is closing the four previous gaps. Companies need to conduct a series of investigations to understand customers' expectations while working with employees to deliver the right service at the right time. Following the publication of the GAP model, Parasuraman, Berry and Ziethaml developed five dimensions and a scale called SERVQUAL to measure the above discrepancies. The dimensions are described as follows: 1. Tangibles: These are things that the bank's customers physically observe, including a large network of ATMs, staff, hardware, equipment, and appearances. A capable and qualified staff, the quality of banking products and services, brochures and maps can be tangible assets. These qualities provide clients with specific clues to assess the service provider's capabilities.
2. Insurance: Insurance refers to the knowledge and courtesy of employees and their ability to create a climate of trust. Bankers can provide security to clients by being polite and providing the knowledge to help them solve their problems.
3. Reliability: Reliability refers to the trust in the company's ability to provide the service adequately, according to promises and explanations. Reliable service means that the banker can provide an Internet connection throughout the day, operating at the desired level, without significant downtime. The banker should not abuse cardholder data and new technologies should be updated regularly.

Empathy:
Refers to the individual and caring attention that the service provider gives to its clients. In addition, the bank's customers may belong to a different social background and the banker may, therefore, focus on the personal attention of the clients and understand the specific needs of the clients according to their needs. 5. Response: refers to the service provider's willingness to assist clients and provide immediate service. This can be measured by the time it takes to deal with customer issues and the service provider's willingness to help customers and provide prompt service. This can be measured by the time it takes to process customer-reported issues and response time as soon as the customer has made a service request. The SERVQUAL actions and five gaps help formulate the questionnaire: Some questions are developed based on the gaps and dimensions above to understand customer expectations and performance. Figure 1 represents the extended gap model of service quality.

Result & discussion
7 point Likert's scale is used to calculate the gap score. Point 7 is given to strongly agree and point 1 is given to strongly disagree. After a survey of 100 customers in Government Bank and Private Bank, we calculated the average gap score of each dimension and then calculate the overall gap score. The gap score for government and private banks is described below in table 2 and table 3.
After the analysis of graphical representation, it is clear that the services like physical facilities, modern looking equipment, information about bank plan etc. in Private Bank are better than Government bank. The services like the behaviour of employee, knowledge to answer customers' questions, safe transactions etc. in Government Bank are better than Private Bank. From figure 2 it can be observed that the average gap score of Government Bank and Private Bank are 2.78 and 2.55. The lower the score, the lower the customer satisfaction. Customer satisfaction in the private bank is higher than that of the government bank.
The certification services of the public bank are better than those of the private bank. Reliability services in state and private banks are the same.
The responsiveness services include a willingness to help the customer provide fast service to the customer, etc. In order to improve the quality of service, it is necessary to contact employees regularly, to train them properly and to make them aware of the latest technologies. The organization needs to assess how an employee who understands how customers perceive service quality and are able to measure that quality can use industry professionals in both quantitative and qualitative terms.