| dc.description.abstract | The selection of a bank is a critical aspect of banking strategy in today's highly
competitive environment. Banks must identify and enhance factors that contribute to
customer retention to effectively plan marketing strategies aimed at retaining existing
customers and attracting new ones. This study aims to investigate the importance of bank
selection criteria and identify the most influential factor affecting young customers' bank
selection decisions in Ho Chi Minh City.
Utilizing responses from 250 young individuals, a quantitative methods was
employed. Seven factors, comprising 27 attributes rated on a 5-point Likert scale, were
used to assess bank selection criteria. Non-probability convenience sampling was utilized,
and factor analysis was conducted to streamline the variables. The findings indicate that
several key factors significantly influence young customers' bank selection process,
including Convenience, Technology Factor, Brand Image, Bank's Promotion Strategies,
and Security, with Brand Image and Convenience being the most impactful. These findings
provide valuable insights into the decision-making process of young customers when
selecting a bank. Notably, Relatives' Influence and Staff Quality were found to be
unreliable predictors of young individuals' bank choices due to their inconsistent
relationship with the selection process.
In other words, young individuals who regularly visit the bank tend to favor banks
that excel in offering convenience and flexibility, such as easy access, widespread
availability, comprehensive services, and advanced technology. Given these results, it is
recommended that banks conduct frequent marketing research to continuously monitor and
evaluate evolving customer perspectives, enabling them to develop products and services
tailored to the preferences of the young generation | en_US |
