Variation in the perception of quality with lifestage in retail banking

Quality is seen as a key strategic differentiator within the financial services sector, with most major players undertaking some form of quality initiative. Discusses work undertaken within TSB Bank plc to determine retail customer perceptions of those factors which determine service quality and whether or not lifestage affects perceptions of quality. Lifestage is considered important because of the potential conflict between the attraction of new customers in one group and retention of existing customers in other groups. Discusses a number of models of service quality and proposes one based on the three dimensions of process/outcome, subjective/objective and soft/hard. Discusses the effect of lifestage on perceptions/requirements in the context of this model and draws conclusions on the effect of lifestage on customer requirements in retail banking.