Graduate School of Business

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Browsing Graduate School of Business by Subject "Banks and banking."

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    Factors influencing the choice of commercial banks among university students in Zambia: the case of university of Zambia (UNZA) first year students.
    (The University of Zambia, 2022) Musumali, Benjamin
    The Purpose of this study was to investigate the determinants of choice of the commercial banks among first year students at the University of Zambia. The Objectives of this study were to establish the criteria students use in selecting a commercial bank; to determine the rank of significance of choice of the determinants criteria and their influence on bank selection by university students; and to develop a marketing model and provide recommendations that commercial banks can use to attract the patronage of first year students. The Methodology used for this study was convenience sampling and data was collected through a self-administered questionnaire. A sample of 150 respondents was selected and 128 questionnaires were received back, but only 120 were suitable for analysis. The sample area was University of Zambia. Descriptive and inferential data analysis was conducted. The Findings, out of thirty determinants of bank selection criteria, the top five bank selection criteria in ascending order included the following: Bank status in industry; Reputation of the bank; Convenience of Location; Family member opinions or Friend recommendations; and Ease of obtaining borrowed funds. Additionally, the study findings pointed out that automated teller machine, branch internet banking, debit or credit cards, mobile banking, personal loan, agency banking (banking agents) as the major influence in bank selection in exception of investment products and e-cheque which are considered to be of least important in bank selection by students. The finding of the first and second hypothesis have indicated that the variances of financial benefits and industry status and size was equal and the variances of treatment of customers and bank product and services was also equal with type II error being committed in both hypotheses. Furthermore, the finding of the third hypothesis reviewed that mean treatment of customers and bank Product and Services were significantly the same resulting into type II error being committed. The Practical Implications of this study provides insight on the determinants criteria that influence the selection of a bank by first year students at the University of Zambia (UNZA), which has obvious management and theory implications. The report brings value and originality on bank selection determinants criteria from apparently under-researched and under-reported undergrad segment in Zambia and a typical Central-Southern African context. Key Words: University Student, Determinants, Commercial Bank, Selection Criteria, University of Zambia
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    Investigating the implications of bank product development on customer acquisition and retention: a case of xapit mobile banking service at Zanaco.
    (The University of Zambia, 2021) Malamula, Mary
    Product development is the presentation of a good or service that is new or altogether improved with respect to its qualities or planned uses; remembering critical upgrades for specialized determinations, parts and materials, fused programming, ease of use or other utilitarian attributes. This research was aimed at investigating how the Xapit mobile banking service has affected the bank‟s customer acquisition and retention. The research embraced a quantitative research structure. Primary and secondary data was explicitly gathered and analyzed so as to accomplish the research objectives. A sample of 162 was randomly selected. The data was gathered through questionnaires. The data which was collected was analyzed by the SPSS. From the 162 questionnaires distributed, only 117 were successfully filled up and returned to the researcher. This gave a response rate of 72.23% which is significant considering 50% is viewed as satisfactory. The findings of the study through correlation analysis conducted on the study variables found that both the study variables (customer acquisition and Customer retention) had a negligibly positive relationship (r=0.033; P< 0.0226; r=0.006; P< 0.045) with Xapit product. Therefore, Xapit mobile banking service has positively affected the bank‟s customer acquisition and retention. The results resonated with the findings by Rathi and Sruthi, (2016), Ogongo (2014) and Caldeira & Ward (2001) that a well-developed product positively influences customer acquisition and retention. The study further more discovered that customers find Xapit safe to use which as a result has attracted more customers as indicated by an average ranking of 4.45 with a standard deviation of 0.856. Additional unique factor that made respondents get attracted to Xapit services was a result of friends and colleagues‟ recommendation as indicated by a mean of 4.33 and standard deviation of 0.743. The study also found that customers are retained on Xapit as a result of among others; lower cost of doing any transaction, secure and easier to use. In conclusion, the study recommends the followings; the marketing team of the bank should do a wider and more detailed market research to determine what else needs to be done to improve Xapit banking services so that it gains more market share. The bank should make Xapit more affordable and user friendly. The bank needs to identify gaps and loopholes in the existing Xapit services in order to improve the services which will ultimately enable it acquire and retain more customer. Key Words : Xapit, Customer Acquisition, Product development and Customer retention