The Role of Customer Feedback in Shaping Business Strategies: A Case Study of Erbil Bank
Hazhar Omer Mohammed*
Amin Ahmad Sead Muhammad
Banaz Sarkawt Jaffeer
Muhammad Harun Muhammad
Twana Dana Abddulla
The banking sector in the Kurdistan Region of Iraq has become increasingly competitive, requiring banks to adopt customer-centric strategies to remain sustainable. Therefore, this study aims to investigate the effect of customer feedback on business strategies in Erbil Bank. The research employed a quantitative research approach and a structured questionnaire that was distributed to 63 customers. The research findings show that customer feedback has a major effect in relation to business strategies in Erbil Bank, as indicated by R² of 0.860, accounting for 86% of business strategies in Erbil Bank. The research findings also show that customer feedback has a major effect in relation to customer satisfaction, accounting for 42% of customer satisfaction as indicated by R² of 0.421. In addition, customer satisfaction was also found to be a significant determinant of customer loyalty, which explained about 61% of customer loyalty behavior. It was also confirmed that customer satisfaction plays the role of a mediator in the relationship between customer feedback and customer loyalty. In conclusion, the significance of customer feedback in enhancing service quality, customer satisfaction, and customer loyalty, especially in the banking industry, is underscored.
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