Consumer's preference: A study of Banking industry

India is on the path to become a global economy and witnessing the growth in many sectors. Financial institution specially banking industry is one of the areas where many public, private & foreign banks are operating their businesses to different customers in every nuke of the country. In the process to attract customers these banks are providing highest level of service quality to satisfy the varying needs of today's customers, but service quality is not alone sufficient; trust among the customers is another important factor which is a predictor of consumer preference. Still 90% of Indian consumers are banking with public sectors banks because of the trust they have although private banks & foreign banks are delivering better services than these banks. The aim of this study was to understand the relationship between the dependent variable consumer preference and the two independent variables trust and service quality. To understand the relationship regression analysis was used. The result of regression indicates that independent service quality and trust has significant impact on the dependent variable (consumer preference).