Analyzing Consumer Behavior in Banking Sector of Kosovo

Abstract

Considering the importance of understanding, analyzing and studying consumer behavior and behavior model, it was deemed necessary to conduct a research on this issue. As part of this research, consumer behavior models in the banking system of Kosovo were studied and analyzed. The first part of the study is characterized by a review of various literature, publications and scientific journals related to understanding the role and importance of consumer behavior in enterprises. Whereas the second part of the study includes a survey questionnaire, with a 500 individual client sample base, randomly selected from commercial banks in Kosovo. This survey was done with the purpose to collect data to determine behavior models of existing consumers in the banking sector and analyze various internal and external factors which influence such behaviors. Finally, data obtained from questionnaire surveys were used to draw conclusions on issues central to this research and issue recommendations which may be useful to commercial banks currently operating in Kosovo, as well as other financial institutions interested in this field.

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“…The literature revealed researchers possesses diverse opinions regarding the consumer behavior in banking sector. One of the important component discussed in the literature of banking consumer behavior is banking services (Fejza et al, 2017). Highlighting the importance of services, Saiz, and Pilorge (2010) suggested that banks should provide the services according to the requirements of customers, if they want to meet the challenge of retaining customers and restoring public confidence.…”

“…Highlighting the importance of services, Saiz, and Pilorge (2010) suggested that banks should provide the services according to the requirements of customers, if they want to meet the challenge of retaining customers and restoring public confidence. On similar lines, Fejza et al (2017) suggested bank is distinguished by its clients, so if a bank needs to be inventive it should provide new services or systematically modify the existing in order to provide something innovative in the market. Highlighting the importance of services Anneli Jarvinen, (2014) stressed that unsatisfactory banking services may have a negative effect on the relationship between bank and customers.…”