The impact of customer service on loan performance in the microfinance sector. The case study of some selected microfinances in takoradi
No Thumbnail Available
Date
2023
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
KNUST
Abstract
The main objective of the study was to analyze the impact of customer service on loan performance in the microfinance sector using selected microfinance institutions in takoradi as case study. This research sought to address the following objectives: to identify the customer service practices in these microfinance institutions; to examine the key challenges in the implementation of customer service practices and to determine the relationship between customer service and loan performance. The study adopted a descriptive study approach. Descriptive survey aims predominantly at observing, describing and documenting aspects of a situation as it naturally occurs rather than explaining them. The design provides a more accurate picture of events at a point in time. The study was purely quantitative in nature. The population of the study comprised all the employees of the selected microfinances namely, coastal commerce microfinance, first rate microfinance, loan line microfinance, yalex microfinance and cashpoint microfinance. For this study, fifty (50) employees were sampled out from the entire population. A simple random sampling technique was employed to select the 50 employees out of all the employees. A questionnaire was chosen as the data collection instrument. The statistical package for the social science (spss) was used for data coding, entry and analysis. Good customer service is one of the essential skills needed to be adopted by employees of corporate world in order to retain its customers. Most studies such as nagar and rajan, (2005) and peppers and rogers, (2004) showed that, satisfaction of customers leads to retention of customers and hence a better organizational performance. In light of data presented, it can be said that customer service has a positive impact loan performance. The study recommends that management of mfis should ensure that, there is a strong relationship between employees and clients of the mfi to ensure a free flow of information and complaints from the customers to the employees in order for management to find efficient ways of addressing the day-to-day complaints expressed by customers
Description
A thesis submitted to the department of marketing and cooperate strategy Kwame Nkrumah university of science and technology graduate school of business in partial fulfilment of the requirements for the degree of master of science in marketing. Graduate school of business, kunst