Measuring Benchmarking Practices via ICSI in Banking Sector

The rapid technology changes are based on current business up-gradation with customer requirement and now none of the organization will be able to think ignorance of innovation according to current need. Innovation & Bench-marking is outlined from Total Quality Management in all sectors. Thought about advancement and continues innovation is now basic need of bench-marking to retain overall customers at local, national as well as global level. Behavior of customer has always been an interesting premise for marketers and Innovators. With the unvarying increase of market, banking sector prove emergent industry in world moving towards India and state level also. This study examines the contentment level of consumer on major National Banks, Private Banks and Foreign bank in India and services provided by them. According to Customer Satisfaction Index propose by America is based on ACSI (American Customer Satisfaction Index) and modifiable with followed is ICSI (The Indian Customer Satisfaction Index) Six parameters for Innovation of Bench-marking in Banking Sectors: Customer Expectation, Perceived Quality, Perceived Value, Customer Complaints, Customer Loyalty & Customer Satisfaction. 10 banks have been covered in India with 740 customers taken in research for analyzing. Study helps to understand the bank is able to perform on bench-marking Standard or not. Exploratory Factor Analysis, Multiple Regression Analysis have used for analysis. The study also analyzes the relationship between deliverance of services and actual customer expectation with the help of exploratory factor analysis and Structural Equation Modeling. The research offers important insights to banks in redefining their corporate image to one that is customer-focused and driven by service quality followed by bench-marking. The results of SEM highlighted the primacy areas of service apparatus. Overall result shown the need of improvement via service quality