Effects of demographic variables on customer loyalty and customer satisfaction of retail banks in Cuddalore district

Customer satisfaction has become an important aspect of measuring performance particularly for the banking industry. As most banks organizations offer similar products and services, improving customer satisfaction and loyalty is the most important factor in maintaining as well as increasing market share for this organization. The banking industry in India is in a state of inevitable and rapid transition. The market for banking products and services has become more competitive than ever before, particularly for products and services in retail banking. Despite, banks are keen to provide various services under retail banking to the expectation of customers, the customers skip from investing in banks and start looking for alternate avenues for savings and investments such as pension funds, mutual funds, life insurance products etc due to the steady fall in interest rates over the last two years. If marketers can understand demographic variables of the customers, they will be better able to manage and market their products. Therefore, in this paper an attempt is made to analyse the effects of demographic variables on customer loyalty and customer satisfaction in retail banks of Cuddalore district.