Satisfaction of Saudi Nationals and Expats towards Loans by Banks in Eastern Province, Saudi Arabia

Abstract

The success of any business depends upon their effective and continuous operation which in-turn depends on their efficiency in meeting their financial requirement as finance is the life-blood of any business. At a globalized era in which we live, the business firms and individuals approach banks and financial institutions to avail loans to successfully operate in the competitive field. Marketing is a total system of business activities to plan, price, promote and distribute needs and satisfy customers to target markets in order to achieve organizational objectives. In this background of growing markets for financial services, increasing competition and improving the level of financial awareness and sophistication by the end users, both personal and corporate, the banks have to develop their marketing skill to maintain their market share and profitability levels. The changing face of banking industry has brought in new challenges and newer responsibilities to the bankers in Saudi Arabia. They have to function with new vigor and vitality in the significantly competitive banking business. Any failure on their part in keeping the eternal vigil is fraught with disastrous and devastating consequences.