Journal of Marketing and Consumer Research www.iiste.org ISSN 2422-8451 An International Peer-reviewed Journal Vol.48, 2018 17 Investigating the Effects of Customer Complaints and Feedback Management on Customer Satisfaction in Select Banks in Anambra State, Nigeria Oranusi, Ifeanyichukwu N Department of Marketing, Chukwuemeka Odumegwu Ojukwu University, Uli – Nigeria Okolo, Victor O Department of Marketing, University of Nigeria, Nsukka, Enugu Campus – Nigeria Wali, Kemkamma Ken Saro-wiwa Polytechnic, Bori – Nigeria Mmamel Zita U Department of Marketing, Institute of Management and Technology, Enugu - Nigeria Obikeze, Chinedum O Department of Marketing, Chukwuemeka Odumegwu Ojukwu University, Uli – Nigeria Abstract This work examined the effect of customer compliant and feedback management on customer satisfaction in the Nigerian banking sector. In this study, turnaround time of banks to resolve complaints, banks response to customer complaints (responsiveness), employee courtesy, communication of service failures and handling process and service recovery were employed as the explanatory variable while customer satisfaction was employed as the dependent variable. In line with this, five hypotheses were formulated for the study. Relevant conceptual, theoretical and empirical literatures were reviewed in order to identify the knowledge gap. The study is anchored on equity theory. The study adopted survey research design. Primary data were used in the study. A total of 400 customers of five selected banks in Anambra Central Senatorial District were sampled for the study. Questionnaire was employed as the instrument of data collection. The data generated were analyzed using descriptive statistics, correlation analysis and multiple regression analysis. Turnaround time of banks to resolve customer complaint, banks response to customer complaints (responsiveness), communication of service failures and handling process and service recovery were found to have significant effect on customer satisfaction, while employee courtesy was found to have an insignificant effect on customer satisfaction in selected sampled banks in Anambra Central Senatorial District. The study concludes that complaints and feedback management has significant effect in customer satisfaction in banks in Anambra Central Senatorial District. The study recommends that banks should reduce their turnaround time to resolve compliant, ensure service recovery and retrain their employees on effective and quality service delivery to customers. Keywords: Customer satisfaction, Equity theory, Customer complaint, Feedback, Service recovery and Communication INTRODUCTION Background of the Study The contemporary advancement of commerce and emerging of markets has led to radical economical fluctuations and inflamed fierce competition (Narteh, 2013). As a result, the consumer today has a multitude of alternatives to exceed his expectations when making a purchasing decision, whereas, rivalry has reached its climax (Leal & Pereira, 2003). In the present scenario of competitive banking, excellence in customer service is the most important tool for sustained business growth. Customer service has been the challenging job in the banking industry, specifically, after the financial sector reforms and implementation of new age technology. Providing prompt and efficient service is on the top agenda of commercial banks to attract and retain the new customers (Malyadri & Sirisha, 2015). Consequently, given the assumption that satisfied customers are a vital ingredient of a sustainable business operation, therefore, satisfying and retaining these customers is no doubt an interactive catalyst that will systematically influence the long-term success of any enterprise in today’s service- driven economy (Wasfi & Kostenko, 2014). In this regard, customer satisfaction strategy signifies the vaccine that must be utilized by enterprises to diminish the risk of substitutes (Komunda & Osarenkhoe, 2012). One of the effective ways of satisfying customers is through effective compliant and feedback management. Customer complaints and feedback management has become an integral part of the banking industry, both from the regulatory perspective and a customer service standpoint. Simply stated, feedback management is, according