Impact of Switching Cost on Customer Satisfaction for Internet Banking

The emerging technology has made an exponential growth of the internet which has changed the pattern of organizations performing their business with customers. The banking industry is no exception. In order to gain competitiveness banks have been introducing more internet banking services. Managing effective customer satisfaction strategies are increasingly important in the banking industry. Since the length in years of customer relationships are one of the most important factors that contribute to the profitability. The presence of switching costs can mean that customers who are actually dissatisfied but do not defect because of high switching costs.