Download or read book Antecedents and outcomes of customer loyalty in the financial services industry written by Adrienne Hall and published by . This book was released on 2011 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Generating Customer Loyalty in an Emerging Competitive Market written by M. Sadiq Sohail and published by . This book was released on 2015 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt: Existing streams of literature are integrated to propose a conceptual framework that highlights the impact of relationship marketing on customer loyalty and its outcomes. The framework aims to provide insights into the underpinnings of relationship marketing. Using empirical research, the study identifies three elements of relationship marketing like trust, commitment and conflict-handling as the antecedents of customer loyalty. Significant outcomes of customer loyalty are also identified. The findings of this study have important implications for firms aiming to build customer loyalty and retention. From a managerial perspective, this study sheds some light on the elements of relationships and outcomes that may be identified as critical for firms in a competitive environment.

Download or read book The Handbook of Customer Satisfaction and Loyalty Measurement written by Nigel Hill and published by Routledge. This book was released on 2017-03-02 with total page 349 pages. Available in PDF, EPUB and Kindle. Book excerpt: Customer satisfaction and loyalty are becoming increasingly important to most organizations since the financial benefits from improving them have been well documented. This book presents a thorough examination of how to use research to understand customer satisfaction and loyalty. It takes the reader step-by-step through the process of designing and conducting a survey to generate accurate measures of customer satisfaction and loyalty. The research process is explained in detail, including questionnaire design, analysis and reporting, but the book also covers other elements of an effective customer satisfaction process. These include project planning, communicating with customers before, during and after the survey, as well as providing internal feedback and taking effective action to address issues raised by the survey. There is also comprehensive coverage of loyalty measurement methodologies as well as the satisfaction-profit chain and associated modelling and forecasting techniques.

Download or read book Establishing the Antecedents and Outcomes of a Value Creation Strategy in Business Banking written by Mari©±tte Louise Zietsman and published by . This book was released on 2018 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Value is considered the core of business-to-business marketing, and creating superior value from the customers℗þ perspective is key to gaining and maintaining a differentiating advantage in an increasingly competitive and price-sensitive business environment. The quest for differentiation has led to both business managers and researchers paying increasing attention to understanding the factors that shape business customers℗þ perception of value, as well as perceived value℗þs ensuing influence on long-term business relationships. Despite the growing interest in the concept of customer value creation in most business-to-business industries, the business banking industry seems to be lagging behind. In fact, most of the largest banks in the world (e.g., China Construction Bank, HSBC, Deutsche Bank, Barclays) only refer in their mission statements to value creation for the shareholder, while most banks fail to mention customer value at all. While scholarly articles on customer value have increased within the retail banking industry over the last few years, research specifically within the business banking industry remains limited. In order to move banks away from a view of value as a way to optimise short-term financial performance, the purpose of this study is to establish the antecedents and outcomes of business banking customers℗þ perceptions of value with the aim of developing a value creation strategy. The study accordingly develops and tests a conceptual model that depicts a value creation strategy in business banking. This model includes 'perceived value℗þ as its central constituent, along with antecedent- and outcome-related variables. In this research, 'antecedents℗þ relate to price fairness, perceived price, and service quality, while 'outcomes℗þ relate to customer satisfaction and customer loyalty. This research differs from previous research, however, in that it incorporates the multidimensionality of both satisfaction and loyalty to establish how ultimately to secure future revenue through a value offering. Furthermore, this research differs from other research studies in that it was conducted among micro-enterprises ©ز́Ơ0́− that is, businesses that employ only one to two people ©ز́Ơ0́− which is an under-researched target group in the value-satisfaction-loyalty literature. Considering the primary objective set for this study ©ز́Ơ0́− that is, to establish the antecedents and outcomes of perceived value in business banking ©ز́Ơ0́− a descriptive research design was employed, and an online, self-administered survey was used to collect primary data from the target population, which was business banking customers who employed only one to two people. The sample of micro-enterprises was drawn through convenience sampling (a non-probability sampling method) from a business customer database provided by one of the largest banks in South Africa. The final analysed sample consisted of 381 micro-enterprises. Using confirmatory factor analysis to assess the validity of the research model and structural equation modelling to test the hypothesised relationships, the results of the study reveal that price fairness is an important construct to consider in a value creation strategy, as enhanced perceptions of price fairness among micro-enterprises were found to influence both their perceived price and service quality, which in turn influenced micro-enterprises℗þ perception of value. In fact, perceived price and service quality were established as mediators between price fairness and perceived value in service encounters between micro-enterprises and their banks. The results further reveal that economic satisfaction and non-economic satisfaction are direct outcomes of micro-enterprises℗þ perceived value, and that attitudinal and behavioural loyalty are indirect outcomes. The findings indicate that while perceived value had the strongest influence on economic satisfaction, economic satisfaction, in turn, did not lead to repurchase intentions (behavioural loyalty). Rather, non-economic satisfaction mediated the relationship between economic satisfaction and behavioural loyalty, indicating the importance of building personal connections and offering an enjoyable service experience in order to drive loyalty behaviours. This research contributes to theory by being the first to investigate empirically the interrelationships between price fairness, perceived price, service quality, perceived value, economic satisfaction, non-economic satisfaction, attitudinal loyalty, and behavioural loyalty under micro-enterprise business customers. Also, the separation of economic and non-economic satisfaction, and of attitudinal and behavioural loyalty, provides theoretical and managerial insights into how to structure a value creation strategy in the business banking industry to ensure that value is translated into actual purchasing behaviour, resulting in increased revenues and profits for business banks. By specifically conducting this research among micro-enterprises in a developing country that depend on banks for access to finance on competitive terms for their business survival and expansion opportunities, this research further contributes to practice by providing banks with recommendations that, if followed, would ensure that a profitable customer base is retained that can contribute to economic growth and job creation. While the research made several important contributions to both theory and practice, statistically the findings cannot be generalised beyond the scope of this study ©ز́Ơ0́− namely, micro-enterprises as business customers of South African banks. Future research should address this limitation, and address the other limitations reported in the study. Doing so could make for exciting research possibilities.

Download or read book Collaborative Customer Relationship Management written by Alexander H. Kracklauer and published by Springer Science & Business Media. This book was released on 2012-11-07 with total page 277 pages. Available in PDF, EPUB and Kindle. Book excerpt: Driven by rapidly changing business environments and increasingly demanding consumers, many organizations are searching for new ways to achieve and retain a competitive advantage via customer intimacy and CRM. This book presents a new strategic framework that has been tested successfully with various global companies. New management concepts such as Collaborative Forecasting and Replenishment, CRM, Category Management, and Mass Customization are integrated into one holistic approach. Experts from companies like McKinsey and Procter&Gamble, as well as authors from renowned academic institutions, offer valuable insights on how to redesign organizations for the future.

Download or read book Establishing the Antecedents and Outcomes of a Value Creation Strategy in Business Banking written by Mari tte Louise Zietsman and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Value is considered the core of business-to-business marketing, and creating superior value from the customers℗þ perspective is key to gaining and maintaining a differentiating advantage in an increasingly competitive and price-sensitive business environment. The quest for differentiation has led to both business managers and researchers paying increasing attention to understanding the factors that shape business customers℗þ perception of value, as well as perceived value℗þs ensuing influence on long-term business relationships. Despite the growing interest in the concept of customer value creation in most business-to-business industries, the business banking industry seems to be lagging behind. In fact, most of the largest banks in the world (e.g., China Construction Bank, HSBC, Deutsche Bank, Barclays) only refer in their mission statements to value creation for the shareholder, while most banks fail to mention customer value at all. While scholarly articles on customer value have increased within the retail banking industry over the last few years, research specifically within the business banking industry remains limited. In order to move banks away from a view of value as a way to optimise short-term financial performance, the purpose of this study is to establish the antecedents and outcomes of business banking customers℗þ perceptions of value with the aim of developing a value creation strategy. The study accordingly develops and tests a conceptual model that depicts a value creation strategy in business banking. This model includes 'perceived value℗þ as its central constituent, along with antecedent- and outcome-related variables. In this research, 'antecedents℗þ relate to price fairness, perceived price, and service quality, while 'outcomes℗þ relate to customer satisfaction and customer loyalty. This research differs from previous research, however, in that it incorporates the multidimensionality of both satisfaction and loyalty to establish how ultimately to secure future revenue through a value offering. Furthermore, this research differs from other research studies in that it was conducted among micro-enterprises ©ز́Ơ0́− that is, businesses that employ only one to two people ©ز́Ơ0́− which is an under-researched target group in the value-satisfaction-loyalty literature. Considering the primary objective set for this study ©ز́Ơ0́− that is, to establish the antecedents and outcomes of perceived value in business banking ©ز́Ơ0́− a descriptive research design was employed, and an online, self-administered survey was used to collect primary data from the target population, which was business banking customers who employed only one to two people. The sample of micro-enterprises was drawn through convenience sampling (a non-probability sampling method) from a business customer database provided by one of the largest banks in South Africa. The final analysed sample consisted of 381 micro-enterprises. Using confirmatory factor analysis to assess the validity of the research model and structural equation modelling to test the hypothesised relationships, the results of the study reveal that price fairness is an important construct to consider in a value creation strategy, as enhanced perceptions of price fairness among micro-enterprises were found to influence both their perceived price and service quality, which in turn influenced micro-enterprises℗þ perception of value. In fact, perceived price and service quality were established as mediators between price fairness and perceived value in service encounters between micro-enterprises and their banks. The results further reveal that economic satisfaction and non-economic satisfaction are direct outcomes of micro-enterprises℗þ perceived value, and that attitudinal and behavioural loyalty are indirect outcomes. The findings indicate that while perceived value had the strongest influence on economic satisfaction, economic satisfaction, in turn, did not lead to repurchase intentions (behavioural loyalty). Rather, non-economic satisfaction mediated the relationship between economic satisfaction and behavioural loyalty, indicating the importance of building personal connections and offering an enjoyable service experience in order to drive loyalty behaviours. This research contributes to theory by being the first to investigate empirically the interrelationships between price fairness, perceived price, service quality, perceived value, economic satisfaction, non-economic satisfaction, attitudinal loyalty, and behavioural loyalty under micro-enterprise business customers. Also, the separation of economic and non-economic satisfaction, and of attitudinal and behavioural loyalty, provides theoretical and managerial insights into how to structure a value creation strategy in the business banking industry to ensure that value is translated into actual purchasing behaviour, resulting in increased revenues and profits for business banks. By specifically conducting this research among micro-enterprises in a developing country that depend on banks for access to finance on competitive terms for their business survival and expansion opportunities, this research further contributes to practice by providing banks with recommendations that, if followed, would ensure that a profitable customer base is retained that can contribute to economic growth and job creation. While the research made several important contributions to both theory and practice, statistically the findings cannot be generalised beyond the scope of this study ©ز́Ơ0́− namely, micro-enterprises as business customers of South African banks. Future research should address this limitation, and address the other limitations reported in the study. Doing so could make for exciting research possibilities.

Download or read book The Routledge Companion to Financial Services Marketing written by Tina Harrison and published by Routledge. This book was released on 2014-12-05 with total page 607 pages. Available in PDF, EPUB and Kindle. Book excerpt: Interest in Financial Services Marketing has grown hugely over the last few decades, particularly since the financial crisis, which scarred the industry and its relationship with customers. It reflects the importance of the financial services industry to the economies of every nation and the realisation that the consumption and marketing of financial services differs from that of tangible goods and indeed many other intangible services. This book is therefore a timely and much needed comprehensive compendium that reflects the development and maturation of the research domain, and pulls together, in a single volume, the current state of thinking and debate. The events associated with the financial crisis have highlighted that there is a need for banks and other financial institutions to understand how to rebuild trust and confidence, improve relationships and derive value from the marketing process. Edited by an international team of experts, this book will provide the latest thinking on how to manage such challenges and will be vital reading for students and lecturers in financial services marketing, policy makers and practitioners.

Download or read book What Keeps the E Banking Customer Loyal A Multigroup Analysis of the Moderating Role of Consumer Characteristics on E Loyalty in the Financial Service Industry written by Arne Floh and published by . This book was released on 2015 with total page 14 pages. Available in PDF, EPUB and Kindle. Book excerpt: At first sight the Internet is the ideal medium for carrying out banking activities due to its cost savings potential and speed of information transmission. From a technological and cost-driven standpoint it may seem quite logical for banks to shift as many banking activities online as possible. At the same time, the question of how to foster customer loyalty arises when the relationship between the bank and the user becomes a virtual one.This paper investigates the importance of antecedents of online loyalty such as trust, quality of the Web site, quality of the service and overall satisfaction. Rather than investigating which factors drive customers to use online banking instead of offline banking, this paper addresses the problem of how to keep customers online and loyal to a specific supplier.A survey among more than 2,000 customers of an Austrian online bank was conducted and a structural equation modeling approach was used to gain important insights into how customer retention in the online banking business can be ensured. Satisfaction and trust were identified as important antecedents of loyalty. Additionally, the moderating role of consumer characteristics (gender, age, involvement, perceived risk and technophobia) was supported by the data.

Download or read book Effects of Relational Outcomes on Customer Loyalty written by Kenneth John Butcher and published by . This book was released on 2000 with total page 616 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: Customer loyalty in services is the focus of the research. The research problem sought to determine both indirect and indirect effects of relational outcomes on customer loyalty, conceptualised as a psychological state. Relational outcomes are defined as: the thoughts, feelings, and relationships perceived by customers arising from the interaction with a service employee. This class of variable is differentiated from other relational factors such as the characteristics of the actors in the interaction and their behaviours. The effects of relational outcome antecedents were compared to service evaluation antecedents such as customer satisfaction, quality, and value. Customer loyalty was modelled as a psychological state and grounded in the unique characteristics of services. The pioneering work of Kingstrom (1983) was used as a basis for extending the literature.--Customer loyalty is an important variable for both services marketing researchers and industry. Accordingly, the research was justified on both theoretical and managerial grounds. Four factors inspired the identification of the research gap: a lack of service loyalty research grounded in service characteristics, lack of studies that conceptualised loyalty as a psychological state, inadequacy of service evaluation measures to predict customer loyalty, and the perceived importance of social interaction to service outcomes.--Data collection included pilot studies, re-analysis of published literature, and three major studies. In the first major study, 23 informants provided insights into the nature of three specific relational outcomes: friendship, social comfort, and social regard. The second study was a cross-sectional survey of 190 hair-dressing customers. The specific relationships between friendship, social regard, social comfort, value for money, service encounter satisfaction, perceived core service quality, and customer loyalty were established in this study. New scales were also developed for friendship, social regard, social comfort, and customer loyalty. A third study collected survey data from 406 customers of hairdressing salons, cafes, and naturopathic clinics. Hypothesised relationships were tested through three nested structural equation models.--The results indicate that relational outcomes in general are important to customer loyalty. Their effects on loyalty as a psychological state are both direct and indirect. The strength of the effects of relational outcomes on loyalty compares favourably with the effects of service evaluation measures on loyalty. The construct of friendship between individual customer and service employee was found to be related significantly and positively with customer loyalty. The effect of personal friendship appears to have as strong an effect as perceptions of core quality and service encounter satisfaction.--Another major finding was that the two relational outcomes of social comfort and social regard both had an indirect influence on customer loyalty. This effect was mediated through the service evaluation constructs of perceived core service quality and service encounter satisfaction. Social comfort affected both quality and satisfaction whereas social regard only influenced quality. However, the impact of social regard on core quality was substantial. Friendship was not found to have a significant relationship with either quality or satisfaction. These findings suggest that there is a temporal dimension to the influence of relational outcomes. Both social regard and social comfort appear to be more important in the early stages of customer-service provider interaction. It also appears that customers evaluate the core quality of everyday services such as hair salons, cafes, and naturopaths using social cues such as feeling well regarded.--A further major finding was the lack of a significant relationship between value for money and psychological loyalty in both quantitative studies. Effects of quality, satisfaction, and friendship appear to be important to loyalty development whereas customer value is not. This finding suggests that value for money may be related directly to actual purchase behaviour or repurchase intentions rather than mediated through psychological feelings of loyalty. Hence, evaluations which reflect pricing considerations are less likely to be associated with psychological loyalty than more relationally oriented constructs.--The findings indicate important implications for both marketers and researchers. Marketing strategists need to be clear about pursuing either a loyalty or a value for money strategy. The former may not result from the latter. Relational outcomes lead to psychological loyalty but their interactive effects operate differently. Friendship with a service employee provides a direct contribution to loyalty development. Whereas social regard and social comfort affect customers' evaluation of the service. Pursuing a relational strategy will have implications for the way frontline staff are selected and trained. Theoretical implications include: using the relational outcomes as a basis for middle range theory development, support for the linear-additive measurement approach, use of laddering techniques to determine relevant influencing variables, and additional explanatory power to the service recovery literature.--In conclusion, a unidimensional construct of psychological loyalty, grounded in service characteristics, was developed, tested, and evaluated for wide application to service industries. Three specific relational antecedents: Friendship, social regard, and social comfort were found to be important to the development of customer loyalty. The research highlighted how these relational outcomes interacted with service evaluation measures to produce loyal customers. Accordingly, Kingstrom's (1983) work has been extended.

Download or read book Trust as the Key to Loyalty in Business to Consumer Exchanges written by Tara Ebert and published by Springer Science & Business Media. This book was released on 2010-09-23 with total page 213 pages. Available in PDF, EPUB and Kindle. Book excerpt: Tara Ebert investigates what trust building measures in the banking industry should comprise. The author presents new and analytical insights which can be employed to deduce better targeted marketing implications for consumer trust building by banks.

Download or read book Handbook of Research on Customer Loyalty written by Keeling, Debbie I. and published by Edward Elgar Publishing. This book was released on 2022-07-19 with total page 384 pages. Available in PDF, EPUB and Kindle. Book excerpt: Identifying customer loyalty as a crucial success factor in contemporary marketing thinking and practice, this innovative Handbook incorporates a rich collection of perspectives on the current topics and research-driven practices in the field. Leading scholars offer an insightful reimagining of the research methods, metrics, and designs for the future of measuring and predicting customer loyalty.

Download or read book Customer Loyalty and Brand Management written by María Jesús Yagüe Guillén and published by MDPI. This book was released on 2019-09-23 with total page 122 pages. Available in PDF, EPUB and Kindle. Book excerpt: Loyalty is one of the main assets of a brand. In today’s markets, achieving and maintaining loyal customers has become an increasingly complex challenge for brands due to the widespread acceptance and adoption of diverse technologies by which customers communicate with brands. Customers use different channels (physical, web, apps, social media) to seek information about a brand, communicate with it, chat about the brand and purchase its products. Firms are thus continuously changing and adapting their processes to provide customers with agile communication channels and coherent, integrated brand experiences through the different channels in which customers are present. In this context, understanding how brand management can improve value co-creation and multichannel experience—among other issues—and contribute to improving a brand’s portfolio of loyal customers constitutes an area of special interest for academics and marketing professionals. This Special Issue explores new areas of customer loyalty and brand management, providing new insights into the field. Both concepts have evolved over the last decade to encompass such concepts and practices as brand image, experiences, multichannel context, multimedia platforms and value co-creation, as well as relational variables such as trust, engagement and identification (among others).

Download or read book The Antecedents of Customer Experience in Retail Banking written by Jacob Ramathe and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Customer experience in retail banking has become a key source of differentiation. Increased competition in the financial services industry and the global financial crisis caused financial institutions to find themselves in a difficult operating environment. A sustainable competitive advantage in the current environment cannot be achieved only through excellent service delivery, service quality and prices, but through the creation of memorable customer experiences. The current study expands on the conceptual framework for the creation of customer experience proposed by Verhoef, Lemon, Parasuraman, Roggeveen, Leonard and Schlesinger (2009). In this paper the nature and extent to which the determinants discussed by Verhoef et al. impact on the customer experience is assessed. Using a quantitative method, a survey questionnaire measuring customers' perceptions about their experiences with the retail banking firms, was distributed to 1043 employees of the air transportation company. The study finds that the past experiences, brand and prices impacts more on customer experience than other determinants identified. The study also evaluates the impact of transformation and Black Economic Empowerment on customer experience. Copyright.

Download or read book Antecedents and Outcomes of Employee Based Brand Equity written by Bari, Muhammad Waseem and published by IGI Global. This book was released on 2022-06-17 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt: Branding and human capital are considered a firm’s most important assets, and the development of these intangible assets is a particularly challenging and important management task for human resource managers and marketers. Employee-based brand equity is a key advantage for the organization and an important part of the brand-based evaluation. To develop an effective and strong employee-based brand equity, firms need to focus on the perceptions of employees and promote positive attitudes about affiliation with the firm. Antecedents and Outcomes of Employee-Based Brand Equity explores the antecedents and consequences of employee-based brand equity from different perspectives and different artifacts of employee-based brand equity. This book highlights the importance of brand equity from a human resource management perspective. It further highlights the ways in which brand equity can be fruitful in understanding and learning different theories and concepts with the interaction of different industries and culture. Covering topics such as employee retention, psychological capital, and brand experience, this premier reference source is an indispensable resource for corporate offices, human resource managers, business leaders and managers, governmental organizations, marketing professionals, customer service professionals, libraries, students and educators of higher education, researchers, and academicians.

Download or read book Antecedents of Customer Loyalty in the Manufacturing Industry written by Perry Shead and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This note is part of Quality testing.

Download or read book Antecedents of Customer Loyalty written by Savira Ansory and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Service Quality Transformation and Its Impact on Customer Satisfaction and Loyalty in Malaysian Retail Banking Sector written by Sanmugam Annamalah and published by . This book was released on 2016 with total page 8 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the importance of antecedents of customer loyalty such as customer satisfaction and service quality dimensions. It addresses whether the dimensions of service quality impacts customer satisfaction eventually leading to customer loyalty. The Structural Equation modeling technique was used in this analysis to determine customer satisfaction and customer loyalty. The results suggest that empathy and assurance are the key factors in delivering customer satisfaction, whereas, tangibility, reliability and responsiveness are found to least impacting customer satisfaction. The relationship between customer satisfaction and customer loyalty is also found to be very significant. Therefore, the bank managers should focus their resources on improving customer care and assuring the services provided to the bank customers will eventually create customer loyalty towards their banks.