Factors Affecting Customer Satisfaction in Savings and Credit Cooperative Societies in Kenya: Balozi Savings and Credit Co-operative Society ltd
Gichuru, John Nderitu
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Customer satisfaction is one of the most important factors in a firm, since they regard customer satisfaction as one of the main goals of evaluating how effective the business is. In addition, customer satisfaction is a starting point in the value chain between customer satisfaction, customer loyalty, firm product, marketplace and financial performance, and shareholder wealth. In today's dynamic global business environment, competition is forcing cooperative societies to assess and respond to the growing importance of the role their customers play in their success. A full understanding of factors that affect customers' satisfaction is crucial, to ensure long-term share for the societies in the market. Customer satisfaction is the base on which cooperatives build their success through decreasing costs. The main objective of this research was to investigate the factors influencing customer satisfaction in Savings and Credit Co-Operative Societies (Saccos) in Kenya, with specific focus on Balozi Sacco Ltd. The specific objectives of the study was to find out how' nature of the products influences customer satisfaction in the Sacco; to determine the extent to which staff qualification influence customer satisfaction in the Sacco and to establish the effects of facilities and ICT on customer satisfaction in Balozi Sacco. The study used descriptive study design. To satisfy the research objectives and answer the research questions, the research used the survey technique. A self-administered questionnaire was used for collecting data. The questionnaire had both open and close ended questions. The research question had simple and logical questions in order to obtain the information intended. The target population for this study was the members, staff, the management committee as well as the supervisory committee of Balozi Sacco Ltd. The sample consisted of 202 members from different branches of the Sacco, who were selected using a stratified random sampling technique. The collected data was analyzed with the help of tools like descriptive statistics, correlation and factor analysis. The findings showed that the nature of products, information communication technology and staff training are some of the factors affecting customer satisfaction in Saccos. In terms of recommendations The research recommends that customer or market oriented products be developed in order to retain their members and attract new ones, that SACCOs must acquire and use the latest information technology, that'SACCOs should implement training for all staff.