Service Quality as a Mediator: Impact of Service Delivery on Customer Satisfaction in Lucknow's Mutual Fund Market

Abstract

Background: Mutual fund investment in India has grown significantly, with service-related factors playing a crucial role in determining investor satisfaction. In this context, both the effectiveness of service delivery and the overall quality of service are essential factors that shape customer satisfaction

Aim: This study aimed to evaluate how mutual fund investors in Lucknow perceive service delivery, service quality, and customer satisfaction, and to determine whether service quality acts as a bridge between service delivery and customer satisfaction.

Methodology: The study followed a descriptive, exploratory, and cross-sectional research design with a quantitative approach. Data were collected from 467 mutual fund investors in Lucknow using a self-designed questionnaire and purposive sampling. The analysis was conducted in SPSS and included reliability analysis, frequency analysis, and mediation analysis.

Results: The findings showed that a large portion of investors rated service delivery (48.0%) and customer satisfaction (46.7%) as high, with an even greater percentage (61.7%) giving high ratings to service quality. Mediation analysis further confirmed that service quality plays a significant role in linking service delivery to customer satisfaction.

Conclusion: The study concluded that service quality plays a crucial mediating role between service delivery and customer satisfaction, emphasizing the need for mutual fund providers to enhance service processes and client experience to retain investors.

Implications: The results have implications for financial service providers, suggesting a strategic focus on improving service quality as a lever to strengthen customer satisfaction and loyalty. This insight can inform policy-level decisions and marketing strategies for investor retention.