Customer Preferences in Selecting Commercial Bank in Malaysia
Since 1960s, the rapid growth of economy has changed the Malaysia banking to be more focus on their main role which is from financing trade into mobilizing. It makes them to be more efficient and effective in linking all resources available. Therefore, because of rapid changes in banking industry, consumers tend to be more demanding in selecting products and services offered by banks which leads the current market place to be more competitive. In order to ensure that these banks can stay competitive in the industry, this research has been done in order to investigate the factors that influence customer preferences in selecting commercial banks in Malaysia. Based on the research done, it has been found out that reliability, bank performance and convenience are the factors that have significant effect on bank selection by customer. In order to complete this study, two-hundreds (200) questionnaires have been distributed among the customers of commercial banks in Malaysia. However, only one-hundred fifty (150) questionnaires were manage to be collected and analyses. As a result, it shows that bank performance and convenience have a significant relationship with bank selection while reliability does not have any significant relationship with customer preference on commercial banks.
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Document Type: Research Article
Affiliations: Faculty of Business, Multimedia University, Jalan Ayer Keroh Lama, 75450 Bukit Beruang, Melaka, Malaysia
Publication date: November 1, 2017
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