determinant factors and consequences of customer satisfaction in vietnamese internet...

College of Management

I-Shou University

Master Thesis

Determinant Factors and Consequences

of Customer Satisfaction in Vietnamese

Internet Banking Sector

Advisor: Dr. Heidi Chang

Graduate Student: Duong Phuong Linh (Candy)

January 2015

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Acknowledgements

In order to finish this thesis, I was granted a lot of assistance, guidance and

supervision from professors, respondents and supporters. Hence, I want to thank to all who

support, direct and motivate me throughout the process of completing the research.

Especially, I would like to express my special thanks of gratitude to my supervisor Dr. Heidi

Chang who initiated the project; guided and suggested me a lot of valuable and constructive

comments; and gave me a good opportunity to complete my Master thesis.

Besides, I would like to express my deep gratitude to our research committee members

who assisted to improve my thesis paper. They worked hard and corrected my mistakes and

errors to help my thesis better. I also want to thank all the respondents who have paid time to

get through the entire survey with their enthusiastic and supporting manner.

Moreover, I am particularly grateful for my family, my friends and my classmates.

They always trusted and supported me when the study difficulties came. Their deepest love

and sacrifice were spiritual inspiration to cheer me up. Lastly, thanks are extended to

everyone who encouraged and guided me to finish my research work directly and indirectly.

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Abstract

The development of Internet-based technologies in the last two decades significantly

changes the way businesses operate. Banking sector is along with the evolution of computer

and specialized technologies in order to provide the highest quality to customers. Internet

Banking is new service so it pays more and more attention of customers in Vietnam.

Internet Banking services and perceived value is basically essential to satisfy and retain

customers. They are also the critical elements to achieve customer satisfaction and then

leads to customer loyalty and brand reputation. These research findings showed that there is

positive relationship between service quality and customer satisfaction, perceived value and

customer satisfaction, brand reputation and customer satisfaction, as well as customer

loyalty and customer satisfaction.

Key works: Internet Banking, Banking Sector, Customer Satisfaction, Service

Quality, and Perceived Value

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Table of Contents ACKNOWLEDGEMENTS .................................................................................................... 2

ABSTRACT ............................................................................................................................. 3

LIST OF TABLES ................................................................................................................... 6

LIST OF FIGURES ................................................................................................................ 7

CHAPTER I: INTRODUCTION .......................................................................................... 8

1.1. Introduction ............................................................................................................... 8

1.2. Research Objectives ................................................................................................. 9

1.3. Research Questions ................................................................................................. 10

1.4. Research Significance ............................................................................................ 10

CHAPTER II: LITERATURE REVIEW .......................................................................... 11

2.1.InternetBanking ........................................................................................................ 11

2.2.CustomerSatisfaction ................................................................................................ 12

2.2.1. Definition ...................................................................................................... 12

2.2.2. Models of Assessing Customer Satisfaction................................................ 13

2.3.PerceivedValue .......................................................................................................... 14

2.4.ServiceQuality ............................................................................................................ 16

2.5.BrandReputation ....................................................................................................... 17

2.6.CustomerLoyalty ......................................................................................................... 19

CHAPTER III: METHODOLOGY ..................................................................................... 21

3.1.ConceptualFramework ............................................................................................... 21

3.2.ResearchDesign .......................................................................................................... 22

3.3.Sampling ....................................................................................................................... 23

3.4.Measures ...................................................................................................................... 24

3.4.1 Measures ......................................................................................................... 24

3.4.2 Key Variables .................................................................................................. 24

3.5.DataAnalysis ................................................................................................................ 27

CHAPTER 4: RESULT AND DISCUSSION ...................................................................... 29

4.1DescriptiveAnalysis ..................................................................................................... 29

4.2MeanandStandardDeviation .................................................................................... 32

4.3ReliabilityCronbach’sAlpha ....................................................................................... 35

4.3.1 Perceived value ............................................................................................... 37

4.3.2 Service quality ................................................................................................. 37

4.3.3 Customer satisfaction...................................................................................... 38

4.3.4 Brand reputation ............................................................................................. 38

4.3.5 Customer loyalty ............................................................................................. 38

4.3Hypothesistesting ........................................................................................................ 38

4.3.1 Correlation test ............................................................................................... 39

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4.3.2 Linear regression analysis .............................................................................. 41

4.4OnewayANOVAanalysis ............................................................................................. 43

4.4.1:Thedifferencesofperceivedvalue,servicequality,brandreputation,

customerloyaltyandcustomersatisfactionamongrespondents’age ................. 43

4.4.2Thedifferencesofperceivedvalue,servicequality,brandreputation,

customerloyaltyandcustomersatisfactionamongrespondents’job .................. 44

4.4.3Thedifferencesofperceivedvalue,servicequality,brandreputation,

customerloyaltyandcustomersatisfactionamongrespondents’monthly

income ...................................................................................................................... 46

CHAPTER 5: CONCLUSION AND RECOMMENDATIONS ........................................ 48

5.1 Researchsummary ............................................................................................... 48

5.2 TheoreticalandPracticalimplication ............................................................... 49

5.3 Researchlimitations and Futureresearch........................................................ 52

5.4 Concludingstatement .......................................................................................... 53

REFERENCES ....................................................................................................................... 55

APPENDIX A ......................................................................................................................... 61

APPENDIX B......................................................................................................................... 65

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List of Tables

Table3.1:Thesourcesofmeasurementscale…………………………………………………….25

Table4.1Demographiccharacteristicsforoverallrespondents………………………….30

Table4.2:Descriptivestatisticsforvariables……………………………………………………...33

Table4.3:Reliabilityanalysis…………………………………………………………………………….35

Table4.4:ReliabilityCronbach’salphaofrespectivefactors……………………...……….37

Table4.5:Correlation Matrix…………..……………………………………………………………...40

Table4.6:ANOVAsummary……………………………………………………………………………...41

Table4.7:Coefficientsummary…………………………………………………………..…………….42

Table4.8:Oneway ANOVA tests of variables among respondent’s age…..……………….43

Table4.9:Oneway ANOVA tests of variables among respondent’s job…..……….……….44

Table4.10:Oneway ANOVA of monthly income……...………………………………………….46

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List of Figures

Figure3.1:Frameofthestudy………………………………………………………….………………..21

Figure4.1:Agedistributionofrespondents……………………………………………………....30

Figure4.2:Monthlyincomedistribution…………………………………………………………....32

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CHAPTER I: INTRODUCTION

1.1. Introduction

The development of Internet-based technologies in the last two decades

significantly changes the way businesses operate. Information and communication are

exchanged rapidly and therefore it leads to the development and expansion of service

sector. As the inevitable result, electronic commerce holds the prominent position in

the global market by delivering an inexpensive, direct and immediate way to sell or

buy products and services as well as deliver information (Abor, 2004). Banking sector

is along with the evolution of computer and specialized technologies in order to provide

the highest quality to customers. Jagdish (2008) stated that the beginning step to attain

success derived from how leaders deal with long-term relationship with new and potential

customers. It seems more reasonable provided costs to potential customers using Internet

Banking in financial services sector. They can connect and use at any place and any time

over the world with just a click. Moreover, due to breakthrough in technology in recent

decades and easiness to browse into World Wide Web, Internet has brought an easy

channel and method to manage customer’s banking account, make necessary enquiries

and undertake banking transactions.

In Vietnam, Internet Banking is new service so it has not received much attention

of customers. It is on the process of advertising to attract new users and broadening the

market. The commercial banks almost offer Internet banking services in their operation

nowadays. The Director of Operations and Technology Division of Techcombank, one

of the leading banks in the technology sector in Vietnam market, said: "We see

technology as a core part of the strategy business strategy and we are committed to

focus all resources to develop this area, create a sustainable competitive advantage. In

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addition to the average investment of $ 15 million per year for several consecutive years

for the technology, banking has also focused human development with a team of

experienced professionals from the leading banks in Vietnam and world “(Doan, 2013).

Using a smart phone or a computer with a network connection, the consumers’ needs are

rapidly performed via a few clicks.

However, there is a real situation of insecurity services using Internet banking in

Vietnam. Some customers have lacked money to hackers. The Internet banking system

has still some weaknesses in securing customers’ account. Therefore, the need to ensure

customers’ rights and enhance their attitudes and awareness to Internet Banking services

is basically essential to retain customers. It is explained the importance of customer

satisfaction to reach customer loyalty.

1.2. ResearchObjectives

Internet banking services face a number of challenges in the operation process.

Al-Sukkar and Hasan (2004) had indicated some major issues in their study: data and

network security, especially privacy problems, lack and limitations of government

policies, regulations and legislation to protect users and to make the Internet secure,

lack of infrastructure and weak telecommunications, broken and slow Internet

connections, lack of Internet awareness, especially in the rural areas. Internet banking

there is still unaccepted therefore enhancing customers’ awareness about benefits of

Internet banking services could encourage a higher level of acceptance, customers

tend to be fear in using Internet Banking services because they think any mistake and

error could cause a loss of money, connection costs and costs of building and

managing Internet Banking system seems unreasonable.

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Therefore, the study tries to measure and find understanding of factors affecting

adoption of Internet Banking services and its possible consequences in Vietnam and

find out the influence determinants towards customer satisfaction.

1.3. ResearchQuestions

The research aims to examine which factors influence to customer satisfaction

by replying the following questions:

1. What is the real situation of Internet Banking service in Vietnam?

2. What is the level of customers’ awareness of using Internet Banking services?

3. Which factors mostly influence customer satisfaction?

4. What benefits banks achieve when its customers satisfy?

5. What solutions should be recommended to enhance customer satisfaction?

1.4. ResearchSignificance

The thesis aims to provide an explanation on the Determinant Factors and

Consequences of Customer Satisfaction Using Internet Banking in Vietnam. This

research can be applied in Vietnam and other countries because it is an essential need to

realize factors being responsible for maintaining customer satisfaction in internet

banking services. This topic isn't somehow new, but it is to be one of the meaning basis

researches to support for the development of internet banking system in Vietnam.

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CHAPTER II: LITERATURE REVIEW

The basic idea of this chapter is to discuss the main concepts of the study and

find out the conceptual framework and models in assessing customer satisfaction

using Internet banking services.

2.1.InternetBanking

Internet banking is defined as “the usage of Internet and telecommunication

networks to deliver banking services to customers” (Nguyen & Singh, 2004). Daniel

(1999) describes that customer is able to connect Internet via high technology media

as computer, television, cable phone or mobile phone, and PDA to use offer banking

products and services. Customer can gather interested information and use most

banking services such as checking account balance, making banking transfers,

deducting for registered monthly bills and invoices, buying online products and

services and using money in advance even without money with Credit card and paying

interest later.

Due to differences on user’s requirement (i.e. Strategic objectives for e-banking;

Scope, scale, and complexity of equipment, systems, and activities; Technology

expertise; and Security and internal control requirements), Internet banking system

varies in configuration. The following is a sample of Internet banking architecture (IT

examination Handbook InfoBase, 2003). Internet Banking is a substitute channel of

distribution of financial services which becomes a competitive advantage of operation

process in global basis. Also, it gives advantages to both bankers and customers. It has

low cost transactions, saves times and increases employees’ productivity. Tuchilla (2000)

listed some other benefits such as an ability to customize users’ accounts, innovation of

new products and services, and the lowest cost of communication and advertising.

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With over 40% of the population uses the Internet (2013), Vietnam is a potential

destination for attracting and retaining customers using Internet Banking services. Since

Internet banking is given to Vietnamese market for ten years, Internet banking services

are increasingly popular and attract more and more users. According to estimates, until

the end of 2013, the number of people using the service has increased by 45% for the last

three years. Vietnam Banking Association said 40 banks have announced deployment

internet banking system at different levels so far. IB is the most powerful system of

several major banks like Vietcombank and Techcombank commercial banks.

2.2.CustomerSatisfaction

2.2.1.Definition

Although the term “customer satisfaction” is popularly recognized and valued

in business environment, it has been arguing how to define the term. Kotler & Keller

(2006) defines satisfaction is “a person’s feelings of pleasure or disappointmnet

resluting from comparing a product’s performance (outcome) in relation to his

expectation”. According to Oliver (1981), satisfaction is apsychological state resulting

from a process of emotional and cognitive evaluation. Since customers have their own

attitudes and experience, they value outcome with different level of satisfaction.

Customer satisfaction means “a measure of how your organization’s total products’

performs in relation to a set of customer requirements (Hill, Brierley, & MacDougall,

2003). And therein, customer satisfaction of Internet banking services mean that banks

fully attain customer’s expectations. Anderson et al. (1994) clearly categorizes

banking customer satisfaction into two conceptialization: transaction-specific and

overal satisfaction. The first one results from a specific service encounter transaction’

experience while the other is the result of overal transactions. The more expectations

are met or exceeded, the more an organization attain comprtitive advantages compared

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to other competitors.The gap of expectation and real outcome is as short as possible

will get more customers’ loyalty.

2.2.2.ModelsofAssessingCustomerSatisfaction

There are a number of models used to assess customer satisfaction. Firstly,

Swedish Customer Satisfaction Barometer (SCSB) was constructed by Fornel and his

colleagues under supervision of University of Michigan-National Quality Research

Center and the Swedish Center in 1989. The model describes two primary drivers of

satisfaction: perceived value and customer expectations. Perceived value is the

comparison between the price paid and quality received, while expectation is about

customer’s desire products and services. The second connection is customer’s

complaints and his loyalty/commitment to bought products and services.

Secondly, American Customer Satisfaction Index (ACSI) is introduced in 1994

by American Quality Association and University of Michigan Business School. The

model which is constructed based on the knowledge of SCSB model, is the

satisfaction of American consumer about products and services in local market. ACSI

explains the link of input factors (perceived quality, perceived value and expectations)

and the outcome (customer’s complaints and loyalty). It differs from SCSB by breaking

down perceived quality of perceived value.

The European Customer Satisfaction Index (ECSI) is an analytical tool to

harmonize customer satisfaction index and support organizations’ marketing strategy

under encouragement of European Quality Institute and European Quality

Management. ECSI is divided by two sub-models, i.e. structural model and measurement

model. Customer satisfaction is the central variable related to drivers: company’s image,

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perceived quality, perceived value and expectations. The significant outcome of these

links is customer’s loyalty.

Using these above knowledge and through empirical studies, Nguyen and Singh

(2004) developed a conceptual model of the relationships between Internet banking

system and customer satisfaction and loyalty. The model explains the relationship of

customer characteristics (age, income, education, experience, disability and emotion);

Internet banking system quality (transaction speed, ease of use, convinience,

accessibility, costs vs benefits, security/privacy, and user powerment) ; cusomer

system contraints (user’s software, hardware and Internet bandwith); and customer

satisfaction. If customers are satisfied with bank attributes like brand reputation, costs,

convinience and banking service quality, they will be loyal to the bank’s services.

2.3.PerceivedValue

Perceived value can be confirmed like as a difference between total consumers

value that a consumer can get from a product or a service. Evaluating, receiving, using

and eliminating any product or any service is incurred from total customer cost (Roig

et al., 2006). Value is the judgment behavior of preference by customers toward

products and services (Gan et al, 2005). Value refers to: function of overall quality and

price of the firm’s products and services compared to the competitors” (Mokhtar et al,

2005). The sellers can't confirm perceived value exactly, only customer can perceive

this value because they are people who directly use the product or the service. When

customer decides to buy any product or any service from any company, they will

inspect and evaluate customer value as a method to decision standard to choose their

suit product or the best service for them. Therefore, the key success for their

organization is focused on supplying value for their customers.

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There are two major approaches can be discovered about the level of perceived

value. The first approach defines perceived value as a construct what has two parts,

one benefit gets and one benefits sacrifices (Dodds et al., 1991; Cronin et al., 2000).

Customer benefits are those value derived from quality of product or services and a

chain of psychological benefits. The sacrifices component is formed from monetary

and non-monetary (Dodds et al, 1991.). The second approach defines perceived value

of customers like as a multidimensional construct (De Ruyter et al., 1997 & 1998;

Sweeney & Soutar, 2001; Roig et al., 2006). It means that perceived value has five

main components which are social value, emotional value, functional value, epistemic

value and conditional value (Sheth et al., 1991).

Customer perceived value is the basis of all marketing activity. Higher value

leads to users’ higher motivation of purchasing the firm’s products and services. In

PERVAL model, Jillian and Geoffrey (2001) broke down elements of perceived value

as quality, emotional value, price and social value.

(1) Quality: the value derived from actual quality comparing with a product’s or

service’s expected performance.

(2) Emotional value: the value which explains the feelings or affective states from

real experience of using products or services.

(3) Price: the value which stated the lower on costs in short-term and long-term

period.

(4) Social value: the value which defined and enhanced self- concept of a product or

service.

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Higher perceived value will achieve more customers awareness and preferences

of products and services. And therefore it will have a positive effect on customer

satisfaction.

H1: There is a positive relationship between perceived value and customer

satisfaction.

2.4.ServiceQuality

Almost businessman understands the importance of service quality provided to

customers but it is continuously arguing how to define the term “service quality”. The

term mainly defined under customers’ view as the result of service that achieves their

expectations. It influence customer’s experience and volatile the demand volume of

products and services sold. Under financial managers’ point of view, service quality

must be assessed as a core strategy of business performance because it impacts the

company’s profit and financial indicators (Hinson, Mohammed, & & Mensah, 2006)

as well as the company’ image. Service quality is considered as a sustainable

competitive advantage to competitors (Kotler & Keller, 2006; Gronroos, 2001) and a

measurement of products’ and services’ improvement process. Under Internet banking

sector, service quality has been identified as the gap between service expectation and

service performance or the comparison of what customers expect to receive and what they

actually receive (Gefen, 2002). Service quality often depends on the current and past

experience of customers (Berry & Leonard, 1995). The higher service quality is provided,

the higher customers satisfy.

In order to analyze and deeply understand Internet banking service quality, it is

necessary to get knowledge of elements relevant to achieving service quality, i.e.

accessibility, convenience, speed, fees and charges, website content and design. Firstly,

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accessibility is the capacity to acquire information and services from a bank’s website

depending on user’s hardware and software; internet connection; size and format of

documents (Goodwin-Jones, 2001). The vital strength is the ability to access information

centers at any time with immediate responsiveness. Next, today, Internet banking is

configured to help user access online service such as internet banking, telephone banking,

mobile banking, ATM & so on at all time and place. Internet banking is easy to access is

an advantage better understand of website contents & applications. Plus, the speed &

responsiveness will be a main concern of information system & e-commerce. Therefore,

the link of downloading speed & user’s satisfaction speed & time fees & changes of

Internet banking services is much lower than documented process making. It’s save time

of employees & divided by smaller load of work, so that bank can save administrative

costs. In respect of customers’ viewpoints, they expect all products and services achieve

the highest quality. A positive perception of customers about the quality of Internet

banking services will be a contribution on customer satisfaction. The higher quality is

provided, the better customers satisfy.

H2: There is a positive relationship between service quality and customer

satisfaction.

2.5.BrandReputation

Brand is a symbol describing an organization’s name, term, symbol, design

and products and services compared to other rivals (American Marketing Association,

1995). Na, Marshall, and Keller (1999) argued that "image cannot be measured by

attribute measurements alone but must include measurements of consumers' perceptions

of the value and benefits attainable from using the brand" (p. 171). This indicates that

the effectiveness of test images is very important so it affect to consumer satisfaction

clearly. Brand image is considered as a faithful combination between consumers in the

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brand –specific. Brand image has influence and motivate buying behavior of consumers

if the brand image of quality assurance products for consumer awareness (Kotler and

Gertner, 2002). Perceived brand image has an effect on customer satisfaction and a

customer's beliefs about brand. They are sourced from personal use experience,

word-of-mouth endorsements/criticisms, and/or the marketing efforts of firms

(Woodruff et. al., 1983). In banking sector, one of the most essential aspects is a

brand awareness what refers to the banks reputation and expiable bank place in the

banking industry (Che-Ha & Hashim, 2007; Reynolds, 2007).

The measure about customer experience is how customer fills with the brand

image or the services. Some combination of beliefs about the brand’s various

performance dimensions determines a perceived overall brand performance (Woodruff

et al., 1983; Che-Ha & Hashim, 2007). An important factor is a brand image perception

what provides by service because customer satisfaction with brand image can promote

service to others around them. According to Park et al (1986), the organization brand

image is measured by customers’ perceptions of value and benefits achievable from

use of brand. The scholar highly values the importance of brand’s benefits. Benefits

are derived from functional needs, experiential needs and symbolic needs. ACSI

proved the close link of reputation and customer satisfaction through a number of

marketing researches. Internet banking reputation refers to the bank’s well-known

and the standing in the banking industry (Che-Ha & Hashim, 2007). Kotler &

Gertner (2002) provide evidence that a well known brand will assure quality of

products and services provided. Thus, it has a great effect on purchasing behavior

and motivation of customers.

Reputation is assessed as an evaluation of the consistency over time of an entity’s

operation and performance (Herbig & Milewicz, 1993). So in an organization, there are

possibilities of reputations as cost, product quality, global reputations or creative

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reputations. Reputation is said to be understood not only in the web. It also depends on

the whole organization (Casalo et al., 2008). Moreover, reputation is considered as a

consequence what can interactive between business and its environment. The company

and customers will have certain interactions as a source of information can help their

customers to assess more clearly about offered quality (Yoon, Guffey & Kijewski, 1993).

Standifird et al. (1999) also said that reputation depends on assess about company from

desirability what is be viewed from a number of people or a group of people from the

external. According to researchers, a good brand reputation is a result of customers’

purchasing and assessing process. If a company provides good quality and high value of

products and services, customers will be satisfied. Customer satisfaction is the best and

fastest marketing tool to retain existing customers and attract new customers; therefore,

it leads to customer loyalty and builds up a well-known brand reputation.

H3: There is a positive relationship between brand reputation and customer

satisfaction.

2.6.CustomerLoyalty

Many researchers have indicated the importance of loyalty to business’ success.

Oliver (1997) defined customer loyalty as “a deeply commitment to repurchase or

re-patronize a preferred products or services in the future which cause repetitive

same-brand or same-brand set purchasing”. Loyalty has two main criteria: behavior and

attitude (Ranaweera et al, 2003). Customer commitment means a strength of good

relationship among customer and the entity and a desire to keep using its products and

services. When customers are satisfied, they come to repurchase products more

frequently; tend to be willing to try new products and services; buy only from you and

also suggest recommendations and give feedback to improve.

It is noted that businesses need to well monitor and manage their relationships

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with both existing and potential customers. This is called the transformation process

which describes how a business makes customers be loyal. It is critical to note that a

satisfied customer does not necessarily mean a loyal customer. Any breach of trust from

previous transactions can seriously result a negative relationship with customers. It is

quite difficult and challenging to make a customer from satisfied to loyal. This is why it

is so essential to keep an eye on customer satisfaction, and correct any possibly bad

situations. Delivering outstanding service to customer and always paying close attention

to customers’ needs and are a must. Therefore, it is essential and necessary to keep in

mind that customer satisfaction is an important element to create customer loyalty.

H4: There is a positive relationship between customer loyalty and customer

satisfaction.

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CHAPTER III: METHODOLOGY

In term of aim and nature of studied problem, this chapter mainly describes main

steps of methodology process. Firstly, the study starts with conceptual framework. Next

is research design. Sampling design and data collection is the next step to collect

information from respondents. And then the study explains operational definitions of

variables discussed on this thesis. Finally, data are sorted and inserted in SPSS software

to get statistic outputs.

3.1.ConceptualFramework

Based on chapter 2 “literature review”, Figure 3.1 demonstrates the research

conceptual framework which gives explanation about the relationship among customer

satisfaction and the determinants including perceived value, service quality, customer

loyalty and brand reputation in Vietnam Internet Banking Sector.

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3.2.ResearchDesign

The methodology has two main categories: quantitative method and qualitative

method. Quantitative method is “to generate statistics through the use of large-scale

survey research, using methods such as questionnaires or structured interviews” whilst

qualitative method is “to explore attitudes, behavior and experiences through such

methods as interviews or focus groups” (Saunders et al. 2009). In the study,

quantitative approach is chosen to explore customer satisfaction in Internet banking

sector, using survey as method of investigation.

The variables of our research are service quality, perceived value, brand

reputation, customer loyalty and customer satisfaction. The hypotheses will be

established basing on the framework. Questionnaire will be made and delivered to the

respondent in order to collect data. The respondent is customers using Internet Banking

in Vietnam. The following steps illustrate the process of preparing questionnaire and

collecting the data for the research:

(1) Questionnaire Back - Translation

Questionnaires were translated into Vietnamese because they will be delivered to

Vietnamese people using Internet banking. This is necessary to make clear and avoid

misunderstanding, and it needs to make sure that the questionnaire is designed carefully

based on research objectives. Originally, the questionnaire is designed in English

version since the thesis is processed in English. Thus, it is necessarily translated into

Vietnamese version in order to receive accurate information and assessment from

respondents.

(2) Pre-test

Before spreading the questionnaire, it must be rechecked carefully to avoid any

misunderstanding or unclear meaning

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(3) Pilot Study

A pilot study is to verify the reliability of the scale items: I give my questionnaire

for 3 professors, 3 bankers, 4 customers, 3 classmates who can help me for pre-check

my questionnaire before I spread it to customers.

(4) Questionnaire survey

The questionnaire will be sent to respondents in three big cities. There are two

main methods of data collection, i.e. by emails through Internet: Google email, Skype,

Facebook, Yahoo and by hard copies directly from customers who uses banks’ services

over the counter. Questionnaires were translated into Vietnamese to get easily

understanding and accurate information from respondents. The main collection data

method is depended on the questionnaires from customers through internet Google doc

via email, Skype, Facebook, Yahoo. It finds very useful in limited time and receives a

large number of reply.

3.3.Sampling

Population is defined as “the complete set of units of analysis that are under

investigation, while element is the unit from which the necessary data is collected”

(Stapleton, 2006). The core function of this study is to investigate determinant factors

and consequences of customer satisfaction using Internet banking in Vietnam. Therefore,

the target population is residents in Vietnam. However the research can only carried out

in Ha Noi Capital, Ho Chi Minh City and Da Nang city because of limitation of time. In

this paper, a convenience sampling method is employed because of the ease to access.

According to Saunders et al. (2009), a larger sample size will be more representative for

the population rather than the smaller one. Thus, the mean of the sample is more

representative to population mean which is explained as the law of large numbers.

Hence, 250 surveys are delivered to respondents from different ages, gender, jobs and

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education background. Respondents are chosen from customer lists with odd listing

numbers up to collect enough 250 surveys during a week in three cities. Surveys are

uploaded to “Google” website and then the link is going to be sent to respondent’s email.

The research surveys are under questionnaire type.

3.4.Measures

3.4.1Measures

In the thesis, several rating scales will be used due to different functions and

characteristics. Firstly, dichotomous scale is a measurement to answer questions under

“yes” or “no” choice. It deals with respondents’ demographic characteristics in the first

part of the survey. Secondly, ranking scale is mainly employed to rank variables. The

questionnaire is divided into two main sections: demographic and determinant factors

and consequences of customer satisfaction. The demographic section is general

information about a respondent such as age, gender, income level, marital status, and

education level. The second section consists of five subsections: quality, perceived value,

customer loyalty and brand reputation. These subsections used a five point Likert Scale

with ratings from “strongly disagree” (1) to “strongly agree” (5). Likert scale is the most

popular instrument to measure factors affecting customer satisfaction and their possible

consequences using Internet banking services. Five-point Likert scale with ratings from

“strongly disagree” (1) to “strongly agree” (5) is chosen.

3.4.2KeyVariables

Customer satisfaction is an experiencing process of purchasing and using

products and services. Customers set their own of expectations and if the products and

services met the requirements, customers are satisfied. But how does it measure?

Customer satisfaction is assessed by service quality and perceived value. Therefore, it is

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a dependent variable. Plus, customer loyalty and brand reputation is an achievement of

customer satisfaction; hence they are dependent variables as well. Service quality and

perceived value are independent variables since they are essential elements affecting

customer satisfaction using Internet Banking.

The variable Service Quality was measured by Maroofi (2013) & Mojares (2014);

they are 6 items in the scale. The variable Perceived Value was measured for Moore and

Benbasat (1991); they are 9 items in the scale. The variable Brand Reputation was

measured for Homburg and Giering (2001); they are 9 items in the scale. The variable

Customer Loyalty were measured for Maroofi (2013)/ Homburg and Giering (2001);

they are 6 items in the scale. And the variable Customer Satisfaction was measured for

Homburg and Giering (2001); they are 9 items in the scale. The items of each scale

perform clearly through this figure.

Table 3.1: The sources of measurement scale

Constructs Items Adapted from

Service

Quality

1. Full information on product features and services offered

2. Internet banking is clear and easy to use

3. Website information is regularly updated

4. Internet banking is convenience and saves time

5. The confidentiality of customer’s data is ensured

6. Internet banking transactions are satisfactory worked

in term of security and privacy protection

Maroofi (2013)/

Mojares (2014)

26

Perceived

Value

1. Internet banking gives me greater control over my

finances

2. Transaction fees are reasonable

3. Internet banking service is good value of money

4. The use of Internet banking is relaxed

5. Internet banking is interesting to use

6. Using Internet banking for my banking services increase

my productivity

7. Using Internet banking improves my performance of

utilize banking service

8. Internet banking is compatible with my life and working

style

9. Internet banking offers a convienient cross-linked

transactions among banks

Moore and

Benbasat (1991)

Customer

Satisfaction

1. Internet banking makes it easy to find what I need

2. My expectation before using Internet banking is met with

my experience

3. Basing on my experience, Internet banking application is

quite pleasant

4. I am satisfied with Internet banking application

5. I am satisfied with the delivery of the overall service of

Internet banking

6. I am satisfied with quality and fee of Internet banking

service

7. I am satisfied with the first time installing and using

Internet banking

8. I am able to make transactions anywhere at any time I want

9. Customer service of Internet banking system is quick and

highly satisfied

Homburg and

Giering (2001)

27

Brand

Reputation

1. Internet banking has a good image in customer’s mind

2. Internet banking has a good reputation compared to

traditional banking services

3. Banking websites has a good reputation for offering wide

range and high quality of banking services

4. Banking websites have a good reputation on secure

customer’s confidential information

5. Internet banking has a good reputation on specialists’

ability to detect fraud and information theft

Mojares (2014)

Customer

Loyalty

1. I commit in frequent use of Internet banking service

2. I will use Internet banking service in the future

3. I will recommend friends and relatives using Internet

banking service

4. I will recommend Internet banking services to someone

who seeks my advice

5. I am eager to send feedback to improve futurely supplied

services

6. It is difficult to change my beliefs about Internet banking

Maroofi (2013)/

Homburg and

Giering (2001)

3.5.DataAnalysis

After gathering the questionnaires, raw data was sorted, checked for usability, and

inputted into an Excel file. In order to avoid duplicated or inaccurate data, it is essential

to apply a data treatment procedure. These include of checking errors due to wrong

typing or invalid questionnaires and then correct any wrong records. After that, the data

analysis will use SPSS version 20 software as a major tool to analysis the collected data.

The statistical procedures for quantitative research include Descriptive Statistic,

Reliability, Linear Regression Analysis and ANOVA Analysis. Descriptive statistics is

selected in order to understand the characteristics of the sample and included measures

28

of central tendency and variability (frequency, distribution, range and standard deviation)

for selected variables. Descriptive statistics is selected in order to measure selected

variables’ central tendency and variability (frequency, distribution, range and standard

deviation). ANOVA is performed to consider the difference in the assessment of factors

of each different customer’s perception on perceived value, service quality, and

company brand image, and customer satisfaction with customer satisfaction. Linear

Regressions would explain the interrelated relationship among testes variables with

customer satisfaction factor.

29

CHAPTER 4: RESULT AND DISCUSSION

This chapter is the analysis of collected data gathered from 205 respondent (return

rate is 82% out of 250 respondents) about Determinant Factors and Consequences of

Customer Satisfaction in Vietnamese Internet Banking Sector. The statistical analysis

includes:

- Description of respondents: Demographic analysis

- Compare mean and standard deviation

- Cronbach’s Alpha test

- Testing of hypotheses

- ANOVA analysis

To help clarify analysis, bar charts, tables, graphs showing percentages and trends are

employed to present collected data.

4.1DescriptiveAnalysis

Data is collected and analyzed by SPSS version 20. Total participated respondents are

250, and 205 questionnaires were pretreated and yielding an 82% respondents. After

categorizing data, 48.29 % of respondents were male and 51.71 % of respondents were

female. The age statistics clearly stated that the largest group of interviewees was those

from 26 to 35 years old accounted for 29.27% of 205 respondents. The age from 15 to 25

years old was the second rank with 24.88% (51 out of 205 respondents). The age group

from 46 to 55 has 18.05% while the group of 36 to 45 has 17.07%. The least age group was

those above 66 years old with only 0.98% of total participants. The below graph showed

frequency of age group (see Figure 4.1).

30

Figure 4.1: Age distribution of respondents

These statistics explained most participants using Internet Banking services are young

people like students (15.61%) who love exploring and high technology. Also the age from

36 to 55 years old were working respondents such as administrative / managerial with 32

respondents (15.61%); government/ state-enterprise staff with 36 respondents (17.56%);

professionals with 23 respondents (11.22%) and entrepreneurs with 24 respondents

(11.71%). Internet banking services are fast, convenient and flexible for those who are too

busy at work and have no time to queue and make transactions at banks. The others like

laborers or farmers group (6.34%); retired, unemployed or housewife group (7.80%);

commercial group (6.83%) and others job group (7.32%) have less frequency of using

Internet Banking. The results stated diversity patterns of age and jobs and may lead to

different levels of satisfaction of using Internet Banking services (see Table 4.1).

Table 4.1 Demographic characteristics for overall respondents

Variable Frequency

(N)

Percentage

(%)

Total participants 205 100

Gender

0

5

10

15

20

25

30

35

15~25 26~35 36~45 46~55 56~65 66 and over

31

Male 99 48.29

Female 106 51.71

Age

15~25 51 24.88

26~35 60 29.27

36~45 35 17.07

46~55 37 18.05

56~65 20 9.76

66 and over 2 0.98

Monthly Income

Under3 million VND 29 14.15

3~7 million VND 62 30.24

7~ 15 million VND 75 36.59

Over 15 million VND 39 19.02

Level of education

Less than High School 10 4.88

High School 28 13.66

College 117 57.07

Graduate 50 24.39

Job

Professionals 23 11.22

Laborers/Farmers 13 6.34

Variable Frequency

(N)

Percentage

(%)

Total participants 205 100

Students 32 15.61

Entrepreneurs 24 11.71

Administrative/Managerial 32 15.61

Government/State Enterprise 36 17.56

Retired/ Unemployed/Housewife 16 7.80

Commercial 14 6.83

Others 15 7.32

32

In term of education, most of participants were college graduated (117 out of 205

participants – 57.07%) and postgraduate (50 participants with 24.39%). Lower level was

high school graduated with 13.66% and the least were less than high school graduated with

4.88%. The majority of respondents (36.59 % and 30.24%) were those who had average

monthly income at VND 7 million to 15 million and VND 3 million to 7 million. 19.02%

had monthly income over VND 15 million. Monthly income under VND 3 million had

14.15% of respondents. These revealed that diversity of level of education and income level

would differently affect satisfaction levels of using IB services. The following chart

represented frequencies of respondents’ level of income:

Figure 4.3: Monthly income distribution

4.2MeanandStandardDeviation

Mean value is an important measure of respondent’s response in quantitative research.

Mean using in Likert 5 points indicates the level of agreement. In the study, four elements

of customers satisfaction model are (1) Perceived value, (2 ) Service quality, (3) Brand

reputation and (4) Customer loyalty.

14.15%,

30.24%

36.59%

19.02% Under3 million VND

3~7 million VND

7~ 15 million VND

Over 15 million VND

33

Table 4.2: Descriptive statistics for variables

Variables Items N Mean Std.

Deviation

Perceived

value

PV1. Internet banking gives me greater control over

my finances 205 3.40 1.308

PV2. Transaction fees are reasonable 205 3.31 1.070

PV3. Internet banking service is good value of money 205 3.43 1.030

PV4. The use of Internet banking is relaxed 205 3.54 1.045

PV5. Internet banking is interesting to use 205 3.50 1.123

PV6. Using Internet banking for my banking services

increase my productivity 205 3.57 1.044

PV7. Using Internet banking improves my

performance of utilize banking service 205 3.60 1.027

PV8. Internet banking is compatible with my life and

working style 205 3.49 1.060

PV9. Internet banking offers a convenient

cross-linked transactions among banks 205 3.58 1.159

Service

quality

SQ1. Full information on product features and

services offered 205 3.63 1.106

SQ2. Internet banking is clear and easy to use 205 3.63 .990

SQ3. Website information is regularly updated 205 3.59 .989

SQ4. Internet banking is convenience and saves time 205 3.65 1.001

SQ5. The confidentiality of customer’s data is ensured 205 3.79 1.044

SQ6. Internet banking transactions are satisfactory

worked in term of security and privacy protection 205 3.70 .973

Customer

satisfaction

CS1. Internet banking makes it easy to find what I

need 205 3.61 1.059

CS2. My expectation before using Internet banking is

met with my experience 205 3.61 .936

CS3. Basing on my experience, Internet banking

application is quite pleasant 205 3.60 1.007

CS4. I am satisfied with Internet banking application 205 3.56 1.001

34

Customer

satisfaction

CS5. I am satisfied with the delivery of the overall

service of Internet banking 205 3.60 1.007

CS6. I am satisfied with quality and fee of Internet

banking service 205 3.56 .893

CS7. I am satisfied with the first time installing and

using Internet banking 205 3.61 1.006

CS8. I am able to make transactions anywhere at any

time I want 205 3.59 1.014

CS9. Customer service of Internet banking system is

quick and highly satisfied 205 3.75 2.295

Brand

reputation

BR1. Internet banking has a good image in customer’s

mind 205 3.60 1.003

BR2. Internet banking has a good reputation

compared to traditional banking services 205 3.50 .953

BR3. Banking websites has a good reputation for

offering wide range and high quality of banking

services

205 3.40 1.088

BR4. Banking websites have a good reputation on

secure customer’s confidential information 205 3.45 .941

BR5. Internet banking has a good reputation on

specialists’ ability to detect fraud and information

theft

205 3.51 1.055

Customer

loyalty

CL1. I commit in frequent use of Internet banking

service 205 3.48 1.083

CL2. I will use Internet banking service in the future 205 3.59 .989

CL3. I will recommend friends and relatives using

Internet banking service 205 3.56 .946

CL4. I will recommend Internet banking services to

someone who seeks my advice 205 3.51 1.065

CL5. I am eager to send feedback to improve future

supplied services 205 3.68 1.053

CL6. It is difficult to change my beliefs about Internet

banking 205 3.59 1.038

35

The mean values were greater than 3 for all four variables. These results mean a

positive evaluation of Internet banking services. Customers had a quite high and satisfied

perception of Internet banking and its services. The average mean of variables equaled 3.49

for perceived value, 3.67 for service quality, 3.61 for customer satisfaction, 3.49 for brand

reputation, and 3.57 for customer loyalty.

Besides, standard deviation was also critical measurement to assess the level of

agreement. It showed a deviation of responses from the mean value. According to table 4.2,

standard deviation fluctuated from 0.893 to 2.295 which explained that observations were

around mean value of above variables. Therefore, respondents were slightly satisfied with

Internet banking services.

4.3ReliabilityCronbach’sAlpha

Due to using Likert 5 point scale, Cronbach’s alpha test was performed to assess

internal reliability. Five factors were tested with high results of internal consistence.

Nunnally (1978) indicated that Cronbach alpha coefficient is an effective tool to find

unmatched variables. Cronbach’s alpha is ranged from 0 to 1. Variables should be higher

than 0.6 and those are disqualified if they are less than 0.3. The analytical results of Alpha

coefficient were as the following table:

Table 4.3: Reliability analysis

Scale Mean if

Item Deleted

Scale Variance

if Item Deleted

Corrected

Item-Total

Correlation

Squared

Multiple

Correlation

Cronbach's

Alpha if Item

Deleted

Perceived value 1 121.37 818.831 .751 . .980

Perceived value 2 121.45 830.994 .723 . .980

Perceived value 3 121.33 830.958 .754 . .980

Perceived value 4 121.22 830.322 .752 . .980

Perceived value 5 121.26 824.712 .787 . .980

Perceived value 6 121.20 828.295 .788 . .980

36

Scale Mean if

Item Deleted

Scale Variance

if Item Deleted

Corrected

Item-Total

Correlation

Squared

Multiple

Correlation

Cronbach's

Alpha if Item

Deleted

Perceived value 8 121.27 826.484 .806 . .980

Perceived value 9 121.19 821.956 .804 . .980

Service quality 1 121.13 823.778 .815 . .980

Service quality 2 121.13 830.399 .795 . .980

Service quality 3 121.17 831.574 .775 . .980

Service quality 4 121.11 827.773 .833 . .980

Service quality 5 120.98 829.730 .763 . .980

Service quality 6 121.06 830.236 .812 . .980

Customer satisfaction 1 121.15 826.198 .812 . .980









Brand reputation 1 121.16 825.724 .868 . .980





Customer loyalty 1 121.28 822.929 .848 . .980






37

Table 4.4: Reliability Cronbach’s alpha of respective factors

Factor Items Items deleted Cronbach’s Alpha

Perceived Value 9 No 0.951

Service Quality 6 No 0.942

Customer Satisfaction 9 No 0.898

Brand Reputation 5 No 0.933

Customer Loyalty 6 No 0.953

Nunnally and Bernstein (1994) stated that Cronbach’ alpha scores greater than 0.7 are

highly internal reliability. From table 4.2, in this research, the results show the Cronbach’s

alpha of respective factors in Perceived Value is 0.951; in Service Quality is 0.942; in Brand

Reputation is 0.933; in Customer Loyalty is 0.953 and in Customer Satisfaction is 0.898 so

all factors were above 0.7 meaning that they were highly reliable.

4.3.1Perceivedvalue

Perceived value is one independent variable of Customer satisfaction model using

Internet banking services in Vietnam. Item-to-total correlation of 9 items indicated that all

are satisfied and the cronbach’s alpha is higher than 0.6 (the standard measure). There were

no deleted items.

4.3.2Servicequality

As indicating in table 4.3 and 4.4 service quality has high degree of internal

consistency. There are no deleted items out of total of 6 items. The Cronbach alpha equals

0.942 which mean a high reliability of questionnaires. The total variance is also high with

strong loadings.

38

4.3.3Customersatisfaction

Customer satisfaction had a total of nine items. They all have a high cronbach’s alpha,

all are greater than 8 while the accepted level is from 6. It proved that the questionnaire

items are highly reliable.

4.3.4Brandreputation

Average Cronbach’s alpha of this 5 items were 0.933 which has a highly reliability.

There is no items are deleted. Brand reputation is considered as a strong loading variance.

4.3.5Customerloyalty

Customer loyalty had a Cronbach’s alpha greater than 7 and there were no deleted

items. This means customer loyalty is one strongly reliable element of these below tests.

4.3Hypothesistesting

After implementing Cronbach’s alpha test, this part of chapter tested four hypotheses

of this study:

H1: There is a positive relationship between perceived value and customer satisfaction

H2: There is a positive relationship between service quality and customer satisfaction

H3: There is a positive relationship between brand reputation and customer

satisfaction

H4: There is a positive relationship between customer loyalty and customer

satisfaction

For the core purpose of the study was investigating four independent variables:

perceived value (PV), service quality (SQ), brand reputation (BR) and customer loyalty (CL)

toward the dependent variable: customer satisfaction (CS).the correlation test and simple

linear regression were conducted.

39

4.3.1Correlationtest

Correlation is a critical measure to describe the relationship between two variables.

Pearson correlation coefficient, the most common measure, were used to test correlation

among variables perceived value, service quality, customer satisfaction, brand reputation

and customer loyalty. The measuring interval scale is between -1 and +1 showing

fluctuations of variables together. Value -1 means that variables have perfect direct linear

relation while value +1 means a perfect inverse linear relation between variables. Value 0

represents no linear relation. As proving, the closer is to value -1 or +1, the stronger

relations variables have (Evan, 1996).

The Table 4.5 showed positive relations among tested variables. Therefore, the

correlation between customer satisfaction and brand reputation were the strongest

relationship with r =.898 and Sig. (1-tailed) = .000< .05. Others variables (ie. customer

loyalty with r =.889, service quality with r =.882, perceived value with r =.826) had a

decreasing strength with the dependent element customers satisfaction. Customer satisfaction

is significantly correlated to perceived value (r=.826), service quality (r=.882), customer

loyalty (r=.889) and brand reputation (r=.898). Perceived value is significantly correlated to

customer satisfaction (r=.826), service quality (r=.860), customer loyalty (r=.798) and brand

reputation (r=.811). Service quality is significantly correlated to customer satisfaction

(r=.882), perceived value (r=.860), customer loyalty (r=.844) and brand reputation (r=.858).

Brand reputation is significantly correlated to customer satisfaction (r=.898), perceived value

(r=.811), service quality (r=.858) and customer loyalty (r=.897). Customer Loyalty is

significantly correlated to customer satisfaction (r=.889), perceived value (r=.798), service

quality (r=.844) and brand reputation (r=.897). The result of Pearson ranked hypotheses

indicated that all variables used in this study was positive significance to customer

satisfaction.

40

Table 4.5: Correlation Matrix

Customer

satisfaction

Perceived

Value

Service

Quality

Brand

Reputation

Customer

Loyalty

Pearson

Correlation

Customer satisfaction 1.000 .826*** .882*** .898*** .889***

Perceived Value .826*** 1.000 .860*** .811*** .798***

Service Quality .882*** .860*** 1.000 .858*** .844***

Brand Reputation .898*** .811*** .858*** 1.000 .897***

Customer Loyalty .889*** .798*** .844*** .897*** 1.000

Sig.

(1-tailed)

Customer satisfaction . .000 .000 .000 .000

Perceived Value .000 . .000 .000 .000

Service Quality .000 .000 . .000 .000

Brand Reputation .000 .000 .000 . .000

Customer Loyalty .000 .000 .000 .000 .

N Customer satisfaction 205 205 205 205 205

Perceived Value 205 205 205 205 205

Service Quality 205 205 205 205 205

Brand Reputation 205 205 205 205 205

Customer Loyalty 205 205 205 205 205

Correlation is significant at the 0.05 level (1-taied)

41

4.3.2Linearregressionanalysis

Table 4.6: ANOVA summary

Model Sum of Squares Df. Mean

Square F Sig.

1 Regression 125.454 4 31.364 379.401 .000

Residual 16.533 200 .083

Total 141.988 204

R Square= .884 (Adjusted R Square=.881)

Linear Regression model was used to measure how close the relationship of dependent

variable (CS) and others independent variables (PV, SQ, BR, CL) is. The equation of this

customer satisfaction is as the following:

Y (CS) = β0 + β1PV + β2SQ + β3BR + β4CL

According to table 4.6, where β0 = 0.245, β1 = 0.79, β2 = 0.258, β3 = 0.436 and β4 = 0.215;

and R square is 0.884, it means that the four variables explained 88.40% of customer

satisfaction variance in the attitude towards Internet banking services. It shows a high level of

variability of response data around its mean. Therefore, we have got regression model as

below:

Y (CS) = 0.245 + 0.79PV + 0.258SQ + 0.436BR + 0.215C

42

Table 4.7: Coefficient summary

Model

Unstandardized

Coefficients

Standardized

Coefficients t Sig.

B Std. Error Beta

(Constant) .245 .097 2.516 .013

Perceived Value .070 .044 .079 1.602 .111

Service Quality .253 .056 .258 4.507 .000

Brand

Reputation .410 .058 .436 7.013 .000

Customer

Loyalty .209 .058 .215 3.622 .000

a. Dependent Variable: Customer satisfaction

b. Indepent Variable: Perceived Value, Service Quality, Brand Reputation, Customer Loyalty

Among independent variables, brand reputation got the highest positive relation with

B=.436. The second rank was service quality with B=.258, the third was customer loyalty

with B=.215 and the least was perceived value with B=.079. Therefore, 88.40% of customer

satisfaction depended on PV, SQ, BR and CL, while the remaining of 11.60% was based on

other unstated variables in this study.

In short, all above results stated that the four null hypotheses are accepted. The four

variables (PV, SQ, BR and CL) had a positive relationship with variable customer

satisfaction.

43

4.4OnewayANOVAanalysis

In this part, ANOVA (Analysis of Variation) is used to investigate the differences of

perceived value, service quality, brand reputation, customer loyalty and customer

satisfaction among demographic factors such as job, monthly income and age.

4.4.1 The differences of perceived value, service quality, brand reputation,

customerloyaltyandcustomersatisfactionamongrespondents’age

According to table 4.8 and an assumption of equal attitudes towards age groups, there

is no difference in respondents’ evaluation of perceived value among six groups of age with

F<3 and Sig>0.05. This means that all groups of age are offered the same value of Internet

banking services. Also other variables like service quality, brand reputation, customer

satisfaction and customer satisfaction offered homogeneous quality.

Table4.8:OnewayANOVAtestsofvariablesamongrespondent’sage

Variables Age Mean

Standard

deviation F Sig.

Accept

Perceived value 15-25 3.9020 1.04837

0.927 0.465 No

26-35 3.8830 0.86944

36-45 4.0300 0.90973

46-55 3.6550 0.90775

55-65 3.6722 0.99019

Over 66 3.2778 1.02138

Service quality 15-25 4.0294 0.97280

1.156 0.332 No

26-35 3.8918 0.81679

36-45 4.0811 0.69235

46-55 3.7149 0.80809

55-65 3.7667 0.94188

Over 66 3.4167 0.82496

44

Customer

satisfaction

15-25 3.9586 1.00122

0.912 .474 No

26-35 3.8441 0.81213

36-45 3.9970 0.75925

46-55 3.7982 0.69550

55-65 3.7222 0.76429

Over 66 3.0000 1.41421

Brand

reputation

15-25 3.9412 1.04234

1.157 0.332 No

26-35 3.7690 .88850

36-45 4.0676 .66488

46-55 3.7675 .76674

55-65 3.8083 .66066

Over 66 3.0000 1.41421

Customer

loyalty

15-25 3.9412 1.04234

1.486 0.165 No

26-35 3.7690 .88850

36-45 4.0676 .66488

46-55 3.7675 .76674

55-65 3.8083 .66066

Over 66 3.0000 1.41421

*F<3; Sig >0.05


customerloyaltyandcustomersatisfactionamongrespondents’job

Table 4.9: One way ANOVA tests of variables among respondent’s job

Variables Job Mean

Standard

deviation F Sig.

Accept

Perceived value 1.Professionals 3.9275 .93900

1.486 0.165 No

2.Laborers/Farmers 3.7778 .93073

3.Students 3.4028 1.08012

4.Entrepreneurs 3.8889 .89427

5.Administrative/

6.Managerial 3.9132 .91002

45

7.Government/State

Enterprises 3.9691 .94229

8.Retired/Unemploy

ed/Housewife 4.1528 .66775

9.Commercial 4.1481 .75554

10.Others 3.8741 .85539

Service quality 1.Professionals 4.0145 .81945

0.862 0.549No

3.Students 3.5885 1.02826


5.Administrative/ .M

anagerial 3.9635 .86004

7.Government/State


8.Retired/Unemploy


9.Commercial 3.9778 .87484

10.Others 4.0333 .85030

Customer

satisfaction

1.Professionals 3.9275 .84527

1.211 0.294 No


3.Students 3.5313 .97632


5.Administrative/

6.Managerial 3.9514 .89822

7.Government/State


8.Retired/Unemploy


9.Commercial 3.9185 .90897

10.Others 3.8000 1.04079

Brand

reputation


0.850 0.560


3.Students 3.4938 1.06799


5.Administrative/

6.Managerial 3.8563 .93841

46

7.Government/State


8.Retired/Unemploy


9.Commercial 3.8267 .93462

10.Others 3.8400 1.02036

Customer

loyalty


1.286 0.253 No


3.Students 3.4688 1.07133


5.Administrative/

6.Managerial 3.9010 .92444

7.Government/State


8.Retired/Unemploy


9.Commercial 3.9667 .85263

10.Others 3.9444 1.00725

*F<3; Sig >0.05

Table 4.9 indicated that there is no significant difference in respondents’ perceived

value, service quality, brand reputation, customer satisfaction and customer loyalty. All F

value is lower than 3 and sig. > 0.05. this explained that Anova succeed in showing exact

results.


customerloyaltyandcustomersatisfactionamongrespondents’monthlyincome

Table4.10:OnewayANOVAofmonthlyincome

Variables Monthly income Mean

Standard

deviation F Sig.

Accept

Perceived

value

Under VND 3 million 3.8889 .94426

0.442 0.723

No

VND 3~7 million 3.9462 .94404

VND 7~15 million 3.7911 .87374

Over VND 15 million 3.7611 1.07713

47

Service

quality


0.769 0.513

No

VND 3~7 million 4.0269 .84187

VND 7~15 million 3.8089 .79114

Over VND 15 million 3.8917 .87180

Customer

satisfaction


0.266 0.850

No

VND 3~7 million 3.9480 .86902

VND 7~15 million 3.8281 .78191


Brand

reputation Under VND 3 million 3.9000 1.05057 0.334 0.801 No

VND 3~7 million 3.8710 .89596

VND 7~15 million 3.7440 .82760


Customer

loyalty

Under VND 3 million 3.9107 .99224 1.252 0.292 No

VND 3~7 million 4.0161 .81967

VND 7~15 million 3.7378 .79845


*F<3; Sig >0.05

As we can see the data from table 4.10, there was no significant difference in

respondent’s perceived value, service quality, brand reputation, customer satisfaction and

customer loyalty. F-value is smaller than 3 and Sig > 0.05, it mean that no variable is

different from others.

48

CHAPTER 5: CONCLUSION AND

RECOMMENDATIONS

In this chapter, a summary and implication of findings are presented. Also some

limitations are also listed. After all, the chapter ends with recommendations for further

research and concluding statement.

5.1 Researchsummary

Internet banking services in Vietnam is more and more common even most

Vietnamese people prefer to use cash. The tendency of using Internet banking is among

young people who love convenient, flexible and time saving characteristics provided. Thus,

this study had contributed to exploring determinant factors and consequences of customer

satisfaction element in Vietnamese Internet banking sector.

Firstly, the findings of this study are sorted into three main parts which are the

analysis of demographic data, reliability test and hypotheses testing. It reveals the fact that

more slightly females using Internet banking than the males. In respect of age, most of

Internet banking users is young people from 15 to 35 years old. The mode monthly income

is from VND 3 million to 15 million. The highest participants of the survey has educated at

college level. Furthermore, major jobs of respondents are students, administrators or

managerial and stated-owned enterprises’ staff. Secondly, the Cronbach alpha test for

reliability stated that all variables exceeded Nunnally and Bernstein’s criteria of 0.7. These

analytics indicated that variable cases are highly reliable.

Secondly, hypothesis testing includes a test of four hypotheses using Regression

analysis. The four independent variables have a highly positive relationship with the

dependent one. Research findings showed that there is positive relationship between service

quality and customer satisfaction, perceived value and customer satisfaction, brand

reputation and customer satisfaction, as well as customer loyalty and customer satisfaction.

49

Furthermore, perceived value and service quality are elements which determining how

satisfied customers are. Internet banking services provides a number of advantageous

characteristics like convenience and flexibility, easy to use, and time saving. Customers can

log into Internet and use baking services as normal. They can immediately check account

balance; making transactions anywhere and anytime even at weekend. Customers do not

need to directly go banks. Also it is so easy to use with a laptop connected to Internet or a

digital device like smart phone, PDA and so on. Most of participants were educated at

college level, thus they can quickly adapt to high technology. Both service quality and

perceived value determines the level of customer satisfaction. Higher service quality

provided that met or exceed customer expectations would lead to a relatively high

satisfaction.

According to Pearson test, the brand reputation is the most important variable of

customer satisfaction. The more customers are satisfied or Internet banking services meet or

exceed the customers’ expectation, the more brand reputation is well known. Word of mouth

experiences are the fastest and the most effective way to advertise about a product’s or

service’s brand. People tend to believe one’s experience rather than an advertisement.

Therefore, customer satisfaction is critically affecting a brand’ awareness. The second rank

related to customer satisfaction is customer loyalty. As stated, the more customers are

satisfied, the more customers are loyal to banking services. It was a positively linear

relation.

5.2 TheoreticalandPracticalimplication

This study has critical implication for managers of various banks participated in the

survey; especially in Internet Banking service areas. Firstly, service quality and perceived

value is a predictor of customer satisfaction using Internet banking in Viet Nam. Under

customer’s perspective, they want services provided with outstanding quality and the

50

highest perceived value. They are satisfied if they are served equal or higher than what they

expect to. From a managerial perspective, Internet Banking providers in Vietnam need to

realize that providing good Internet Banking services alone does not guarantee customer

retention. Service quality is not the most important factor to differentiate competitive

offerings but it is an essential and necessary element to establish customer’s belief.

Customers do not believe only on advertising and others’ advise but they use their own

judgment on actual experience of Internet banking services. Hence, good service quality is a

must and is expected to be offered by each Internet Banking provider in the first place.

High perceived value is also a fundamental basis to accomplish customer satisfaction.

If ever trying a bad service with low perceived value, customers will not use the second

time and will switch to other rivals. A bank can improve it perceived value by increasing a

small percentage on interest rates for banking deposits, decreasing a small percentage on fee

charges. Buyers not only choose a bank with good services but a bank with good services

and cheaper administrative costs. Constructing an attractive marketing campaign is also a

good step to increase perceived value in customer’s mind. Banks can list benefits when

using Internet banking services like convenience, time saving and easiness to manage. A

strong guarantee and confidentiality is a plus to a bank. A bank ought to try the best to avoid

a false sense of Internet Banking value; focus on the unique value compared to other banks.

Consequently, it should be noted that service quality and perceived value are fundamental

attributes for retain customers. However for customer retention strategy, Internet Banking

providers in Vietnam should look for other factors that can help to create satisfaction in

order to sustain competitive advantage in long run. Besides, the high range of customer

satisfaction can establish a well-known brand reputation in the market. This is not

maintaining existing customers but also attract new groups and user segments. Banks can

utilize the factors to construct an ideal image in the banking sector, increase profitability of

Internet banking services, achieve higher returns and broaden market shares.

51

Secondly, the reputation of the Internet banking provider has a positive link with

Customer Satisfaction. In fact, reputation of Internet banking services is built basing on

customers’ actual experience and marketing campaigns. More and more marketing

campaigns and social event using brand name will widespread and construct customer’s

awareness of Internet banking services. Plus providing customers with actually high quality

and value with a wide awareness will lead to a good brand reputation. If actual experience is

outstanding and customers are satisfied, good reputation of Internet banking services is the

critical factor to retain and widen customers segment and market share. Brand reputations

play a key role due to the same service manner. If a company’s reputation is positive, then it

can be assumed that customers have a positive attitude towards the bank’s

services. Therefore, customer is not willing to switch to other banks. From a managerial

standpoint it is important to judge reputation as the most critical factor in encouraging

satisfaction among Vietnamese customers towards their Internet Banking services.

Reputation is vital for the survival of a bank in the long run, affect stock market

performance via profitability and have a direct effect on the stock markets. Customer

satisfaction therefore is a basis to achieve brand reputation. Or in other words, brand

reputation is one of benefit from customer satisfaction.

Thirdly, customer loyalty is one important element interacting with customer

satisfaction of Internet banking services. As described on chapter 2 (literature review),

customer satisfaction is a must to accomplish the goal of customer loyalty. The research

findings indicated a positive connection between customer satisfaction and customer loyalty.

Customers are satisfied with actual performance and actual experience of Internet Banking

services, they tend to reuse and introduce for their friends, family members and needed

people. It means that customer satisfaction do not only retain existing customer but broaden

new ones. From a managerial viewpoint, given values in relation with customer satisfaction

of Internet banking services, managers of banks can define customers’ needs and wants.

52

Then they can concentrate resources and build marketing campaign and management

strategies that achieve the highest level of customer satisfaction. These campaign should

start from what customers like and why they use our services rather other rivals. This can be

done by making survey with existing customers. Making phone calls, face to face or even

online surveys are used, however, this process should be done quarterly or yearly depending

on the entity’ dimensions and making sure to record honest opinions and keep update the

information. It is good and necessary to attract more customers but it is not at all. It costs

ten times more to attract a new consumer than keeping an existing one. Therefore, solving

common customer complaints and delivering outstanding customer services are essential in

order to increase sales and result in attracting new customers through the existing one’

recommendation. Besides, banks can occasionally set up social events; send thanks cards or

small gifts for special dates. Nowadays, customers prefer a company having a good

contribution to society. Banks should take part in sports event, charity, pupil scholarships,

and so on. It also brings a good image in customer mind about the banks. The higher level

of satisfaction, the more loyal customers are.

With the above findings, this study analytics also served academic purposes as an

empirical study in the internet banking in Vietnam, with the perspectives of customer

satisfaction, service quality and perceived value.

5.3 ResearchlimitationsandFutureResearch

Although the research is carefully analyzed, there are still some limitations. One main

limitation of the study is inadequate sample. The population of people using Internet

Banking is such a huge number. Therefore, this research sample as 205 participates is rather

small. Further study should extend the sample size with participants other than web-users

from certain geographic areas or companies.

53

In addition, instead of using customers of all the banks to clearly clarify the

determinants and consequences of customer satisfaction element in using Internet banking

services in Viet Nam, only few banks in big cities like Hanoi, Da Nang and Ho Chi Minh

were selected. The variety of participants was not able to be fully satisfied. This may have

an effect on the study’s findings. Plus, because questionnaires were distributed mainly

through Internet, most respondents are young people who have more chances in using

Internet than other groups.

The information collected may be biased since the respondents can exaggerate their

answer. Some people would feel annoying and impatient to finish a long numerous

quantities of questionnaires. Also, these questions were translated from English to

Vietnamese so there are occurrences of unclear translation and misunderstanding for

answers. These may lead to a limitation of the analysis results. The last limitation is time

and resource constraint. Time constraint affected the quality and quantity of research work.

This study will support business to identify the fundamental elements which have

high impacts on customer satisfaction. The positive relationship between variables such as

perceived value, service quality, brand reputation and customer loyalty with dependent

variable i.e. customer satisfaction, would be used as a basis to continue further studies about

these variables in Internet banking sector.

5.4 Concludingstatement

This study tempted to proving a positive linear relationship between determinant

factors like perceived value and service quality and customer satisfaction, and a consequent

relationship between customer satisfaction and variables, i.e. brand reputation and customer

loyalty. This is the primary purpose of this study. On the process of following WTO

regulations up to 2015, Vietnamese economy will attract more and more investing

54

businesses and more foreigners living in Vietnam. A huge flow in and out of money will be

an unimaginable prospect. This is an opportunity for all Vietnamese banks broadening their

range of business, especially Internet banking services. Therefore, satisfying customer needs

and wants will attain a prospective future.

55

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APPENDIX A: Determinant Factors and Consequences of Customer Satisfaction in Vietnamese Internet Banking Sector

(QUESTIONNAIRES FOR DATA COLLECTION)

Part A: Background (Please tick ( or ) the response which is true about you).

1. Age:

15 – 25 26 – 35 36 – 45

46 – 55 56 – 65 66 and over

2. Gender:

Male Female

3. Monthly Income:

Under 3,000,000 VND 3,000,001~7,000,000 VND

7,000,001~15,000,000 VND Over 15,000,001 VND

Next Page

I am a graduate student of International Master of Business of Administration program, I-Shou

University, Taiwan. My master thesis is about “Determinant Factors and Consequences of

Customer Satisfaction in Vietnamese Internet Banking Sector”. Please take about 10 to 15

minutes to complete this questionnaire by ticking () your appropriate answer or giving your

own opinions on the following questions. The collected information will only be used for

academic purposes and will be strictly confidential. Thank you so much for your time and your

cooperation.

Best regard!

Supervisor: Dr. Heidi Chang

Student: Candy (Duong Phuong Linh)

Department of Master International Business Administration

I Shou University, Kaohsiung, Taiwan

E-mail: [email protected]

62

4. Level of education:

Less than High School High School

College Graduate

5. Job:

Professionals Administrative/Managerial

Laborers/Farmers Government/State Enterprise

Students Retired/ Unemployed/Housewife

Entrepreneurs Commercial

Others (Please indicate): ..........................................................................................................

Part B: Please read each item carefully and circle the appropriate number that

indicates HOW MUCH YOU AGREE OR DISAGREE with each of the sections

below:

Please tick ( or ) the response which is

closest about Internet Banking Sector, Vietnam

Strongly

Disagree Disagree Neutral Agree

Strongly

Agree

1 2 3 4 5

How satisfied you are with the Service Quality

1. Full information on product features and

services offered

2. Internet banking is clear and easy to use

3. Website information is regularly updated

4. Internet banking is convenience and saves time

5. The confidentiality of customer’s data is

ensured

6. Internet banking transactions are satisfactory

worked in term of security and privacy protection

63

How satisfied you are with the Perceived ValueStrongly

Disagree Disagree Neutral Agree StronglyAgree

1 2 3 4 5

1. Internet banking gives me greater control over

my finances

2. Transaction fees are reasonable

3. Internet banking service is good value of

money

4. The use of Internet banking is relaxed

5. Internet banking is interesting to use

6. Using Internet banking for my banking

services increase my productivity

7. Using Internet banking improves my

performance of utilize banking service

8. Internet banking is compatible with my life and

working style

9. Internet banking offers a convenient

cross-linked transactions among banks

Rate your degree of Customer Satisfaction Strongly

Disagree

Disagree Neutral Agree Strongly

Agree

1 2 3 4 5

1. Internet banking makes it easy to find what I

need

2. My expectation before using Internet banking

is met with my experience

3. Basing on my experience, Internet banking

application is quite pleasant

4. I am satisfied with Internet banking application

5. I am satisfied with the delivery of the overall

service of Internet banking

6. I am satisfied with quality and fee of Internet

banking service

7. I am satisfied with the first time installing and

using Internet banking

64

8. I am able to make transactions anywhere at any

time I want

9. Customer service of Internet banking system is

quick and highly satisfied

Assessment of customer satisfaction leads to

Brand Reputation

Strongly

Disagree


Agree

1 2 3 4 5

1. Internet banking has a good image in

customer’s mind

2. Internet banking has a good reputation

compared to traditional banking services

3. Banking websites has a good reputation for

offering wide range and high quality of banking

services

4. Banking websites have a good reputation on

secure customer’s confidential information

5. Internet banking has a good reputation on

specialists’ ability to detect fraud and information

theft

Assessment of customer satisfaction leads to

Customer Loyalty

Strongly

Disagree


Agree

1 2 3 4 5

1. I commit in frequent use of Internet banking

service

2. I will use Internet banking service in the future

3. I will recommend friends and relatives using

Internet banking service

4. I will recommend Internet banking services to

someone who seeks my advice

5. I am eager to send feedback to improve future

supplied services

6. It is difficult to change my beliefs about

Internet banking

Thank you for filling the survey!

65

APPENDIX B: Những yếu tố quyết định và kết quả của sự hài

lòng khách hàng khi sử dụng Internet Banking tại Việt Nam

(CÂU HỎI ĐIỀU TRA DÙNG CHO THU THẬP DỮ LIỆU)

Xin chào bạn! Tôi là Đường Phương Linh. Hiện đang là sinh viên năm cuối khoa Quản trị Kinh Doanh

Quốc Tế tại Cao Hùng, Đài Loan. Bảng câu hỏi điều tra này được thiết kế để thu thập dữ liệu về các

nhân tố quyết định và kết quả của sự hài lòng của khách hàng khi sử dụng dịch vụ Internet banking tại

Việt Nam.

Rất mong sự tham gia của bạn để tôi có thể hoàn thành tốt Luận văn tốt nghiệp Thạc sỹ này!

Giáo viên hướng dẫn: Dr. Heidi Chang

Sinh viên: Candy (Duong Phuong Linh)

Khoa: Thạc sỹ Quản Trị Kinh Doanh Quốc Tế

Đại học Nghĩa Thủ, Cao Hùng, Đài Loan

E-mail: [email protected]

Phần A: Thông tin cá nhân (Các anh chị vui lòng chọn hoặc cho câu trả lời

đúng).

1. Độ tuổi:

15 – 25 26 – 35 36 – 45

46 – 55 56 – 65 Trên 66

2. Giới tính:

Nam Nữ

3. Thu nhập bình quân hàng tháng:

Dưới 3,000,000 VN 3,000,001~7,000,000 VND

7,000,001~15,000,000 VND Trên 15,000,001 VND

4. Trình độ văn hóa:

Chưa tốt nghiệp cấp 3 Cấp ba

Cao đẳng Đại học

5. Nghề nghiệp:

Chuyên viên Hành chính/ Quản lý

Nhà nông Công chức nhà nước

Sinh viên Nghỉ hưu/ Thất nghiệp/ Nội trợ

Chủ doanh nghiệp Thương mại

Ngành nghề khác (Vui lòng chỉ rõ)………………………………………… ……….

66

Phần B: Các anh chị vui lòng đọc kỹ và chọn câu trả lời đúng nhất về mức độ hài lòng

hoặc không hài lòng với mỗi phần dưới đây:

I. Anh chị có thỏa mãn với chất lượng dịch vụ hay

không?

Hoàn

toàn

không

đồng ý

Không

đồng

ý

Bình

thường

Đồng

ý

Hoàn

toàn

đồng ý

1 2 3 4 5

1. Cung cấp đầy đủ thông tin về tính năng sản phẩm và

dịch vụ được cung cấp

2. Dịch vụ Internet banking rõ ràng và dễ sử dụng

3. Thông tin trên trang web được cập nhật thường xuyên và

đầy đủ

4. Dịch vụ Internet banking rất thuận tiện và tiết kiệm thời

gian

5. Thông tin của khách hàng được bảo mật

6. Dịch vụ Internet banking làm hài lòng khách hàng về

bảo vệ an ninh mạng và sự riêng tư của khách

II. Anh chị có thỏa mãn với giá trị nhận thức Internet

banking đem lại cho anh chị?

Hoàn

toàn

không

đồng ý

Không

đồng ý

Bình

thường

Đồng

ý

Hoàn

toàn

đồng ý

1 2 3 4 5

1. Dịch vụ Internet banking giúp tôi kiểm soát tốt hơn tài

chính của mình

2. Phí giao dịch dịch vụ hợp lý

3. Dịch vụ Internet banking có giá trị cao

4. Sử dụng dịch vụ Internet banking rất thoải mái thuận tiện

5. Dịch vụ Internet banking rất thú vị khi sử dụng

6. Sử dụng dịch vụ Internet banking giúp tôi tăng hiệu quả

công việc

67

7. Sử dụng dịch vụ Internet banking giúp tôi cải thiện và tận

dụng triệt để các dịch vụ được cung cấp của ngân hàng

8. Dịch vụInternet banking thích hợp với cuộc sống và tác

phong công viêc của tôi

9. Hệ thống Internet banking cung cấp tiện ích các giao

dịch liên hệ thống các ngân hàng

III. Hãy đánh giá mức độ hài lòng của anh chị về dịch

vụ Internet Banking

Hoàn

toàn

không

đồng ý

Không

đồng ý

Bình

thường

Đồng

ý

Hoàn

toàn

đồng ý

1 2 3 4 5

1. Dịch vụ Internet banking giúp tôi dễ dàng tìm thấy

những gì tôi cần

2. Kinh nghiệm sử dụng dịch vụ Internet banking đáp ứng

được kì vọng của tôi trước khi sử dụng dịch vụ

3. Dựa trên kinh nghiệm bản thân, các ứng dụng của dịch

vụ Internet banking rất vừa ý tôi

4. Tôi rất thỏa mãn với các dịch vụ Internet banking

5. Tôi rất thỏa mãn với sự cung cấp đầy đủ dịch vụ của hệ

thống Internet banking

6. Tôi rất thỏa mãn với chất lượng dịch vụ và phí giao dịch

của hệ thống Internet Banking

7. Tôi rất thỏa mãn với lần đầu tiên cài đặt và sử dụng dịch

vụ Internet banking

8. Tôi có thể giao dịch bất kỳ đâu tại bất kỳ thời điểm tôi

mong muốn

9. Dịch vụ chăm sóc khách hàng của hệ thống Internet

banking rất nhanh chóng và đáp ứng đúng nhu cầu của tôi

68

IV. Đánh giá sức ảnh hưởng của việc thỏa mãn khách

hàng đến uy tín thương hiệu

Hoàn

toàn

không

đồng ý

Không

đồng ý

Bình

thường

Đồng

ý

Hoàn

toàn

đồng ý

1 2 3 4 5

1. Dịch vụ Internet banking đã xây dựng được một hình

ảnh tốt với nhận thức của khách

2. Dịch vụ Internet banking đã xây dựng được uy tín cao so

với các dịch vụ truyền thống khác của ngân hang

3. Trang web của ngân hàng xây dựng được uy tín cao

trong việc cung cấp đầy đủ các loại hình dịch vụ với chất

lượng cao

4. Trang web của ngân hàng xây dựng được uy tín cao

trong việc bảo vệ thông tin mật của khách hàng

5. Dịch vụ Internet banking xây dựng được uy tín cao về

khả năng phát hiện và xử lý gian lận và đánh cắp thông tin

của các chuyên gia

V. Đánh giá sức ảnh hưởng của việc thỏa mãn khách

hàng đến sự trung thành của khách hàng

Hoàn

toàn

không

đồng ý

Không

đồng ý

Bình

thường

Đồng

ý

Hoàn

toàn

đồng ý

1 2 3 4 5

1. Tôi cam kết sẽ sử dụng thường xuyên các dịch vụ

Internet banking

2. Tôi sẽ sử dụng các dịch vụ Internet banking trong tương

lai

3. Tôi sẽ giới thiệu cho bạn bè và người thân các dịch vụ

Internet banking

4. . Tôi sẽ giới thiệu các dịch vụ Internet banking cho bất kì

ai cần lời khuyên của tôi

5. Tôi rất mong được đóng góp ý kiến nhằm cải thiện các

dịch vụ được cung cấp trông tương lai

6. Thật khó để thay đổi niềm tin của tôi về dịch vụ Internet

banking

Xin chân thành cảm ơn sự giúp đỡ của các anh chị!

determinant factors and consequences of customer satisfaction in vietnamese internet...

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