Download or read book Customer Loyalty in Retail Banking written by Priti Jeevan and published by . This book was released on 2017 with total page 10 pages. Available in PDF, EPUB and Kindle. Book excerpt: Retail banks are facing greater challenges than ever before in executing their customer management strategies. The higher the (perceived) service quality, the more satisfied and loyal are the customers. In particular, banks realised the strategic importance of customer value and seem to be continuously seeking innovative ways to enhance customer relationships. In fact, as the offers of many financial services are very similar and slightly differentiable, loyal customers have a huge value, since they are likely to spend and buy more, spread positive word-of-mouth, resist competitors' offers, wait for a product to become available and recommend the service provider to other potential customers. The paper will try to investigate which dimensions are important in customer relationship with the banks. Then, the paper tries to study the factors in establishing long lasting relationships that will minimise the customers' switching costs, according to the perceptions of both relationship bankers and their clients. Intensifying competition, proliferating customer contact channels, escalating attacks on customer information, rising customer expectations and capitalizing on new market opportunities are at the top of every bank executive's agenda. In looking for ways to drive growth, banks need to evaluate their customer management strategy. According to analyses of the most business consulting companies (KPMG, Capgemini, Deloitte, Tower-Group, etc.) customers are discontented with the retail banking experience. To achieve higher business growth, banks must increase customer loyalty by delivering a distinctive experience that combines the right mix of convenience, value and service and forges an emotional bond with consumers. Winners will be those that transform themselves into customer-centric enterprises by having a clear vision of what they want to achieve, fully aligning business processes and IT infrastructure to achieve those goals and engaging their employees in the process. The first step to do it is the identification of customer satisfaction. This paper intends to reveal its essential elements.

Download or read book Az oroszorsz gi finnugor nyelvek helyzete s kil t sai written by and published by . This book was released on 2019 with total page 171 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Customer Loyalty In Retail Banking written by Daniel Auka and published by LAP Lambert Academic Publishing. This book was released on 2013 with total page 180 pages. Available in PDF, EPUB and Kindle. Book excerpt: The banking sector globally has experienced drastic changes that have resulted in deregulation and liberalization, increased demand for non-traditional services including the automation of a large number of services and a move towards emphasis on the customer rather than the product and the introduction of non-traditional players who now offer financial service products.Customers are more demanding, more financially educated or informed, more cost and price conscious than hitherto.Many of these trends have resulted in cut-throat competition, mergers, acquisitions and reorganizations in the banking sector.All these changes have led to increased attention to customer relationship, service quality, value and satisfaction to create customer loyalty.Retail banks have to develop and sustain customer loyalty in order to create and maintain a competitive advantage.Given that achieving customer loyalty in a competitive environment is difficult and that it remains ambiguous about its determinants, this book attempts to show the extent to which service quality, perceived value and satisfaction contribute to customer loyalty in retail banks.This will improve their competitive positioni

Download or read book Loyalty and Customer Relationship Management in Banking Sector Case Study of HSBC written by Farrukh Khan and published by Lulu.com. This book was released on with total page 152 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Loyalty and Satisfaction Construct in Retail Banking An Empirical Study on Bank Customers written by Mohammad Shamsuddoha and published by . This book was released on 2009 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study investigates customer satisfaction as the most important factor behind loyalty in retail banking. Various study showed that satisfaction plays an important role to establish loyal customer base. This study points out that satisfaction and loyalty relationship is critical for retail banks. Understanding the factors behind loyalty as well as the antecedents of customer satisfaction is an important issue for academic research as well as for marketing in financial services. The major aim of this study is to identify satisfaction as the major factor behind customer loyalty in retail banking. To comply with the aim, two basic questions has been investigated where one is related to determine the relationship between satisfaction and loyalty in retail banking, and the second one is to determine the role of dimensions of service quality towards satisfaction. The research has been carried out through secondary research and primary research. Survey method has been used for primary research. Personal contact approach through questionnaire has been introduced to conduct the survey. The findings reveal that satisfaction and loyalty are related to each other. Moreover, satisfaction has a positive and direct impact on loyalty in banking.

Download or read book Building Customer Loyalty in Retail Banking written by Pai Y.P. and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Purpose: The purpose of this paper is to advance research on the relationship between customer experience and customer loyalty by exploring the serially mediating roles of brand equity and customer satisfaction and the moderating roles of age, gender, education and family income in the retail banking industry. Design/methodology/approach: A total of 500 responses of retail banking customers were used to test the model using the partial least squares structural equation modeling approach. Advanced statistical techniques, such as importance-performance map analysis and a joint application of FIMIX-PLS and PLS-POS, were used to gain new insights. Findings: The study highlighted that the relationship between customer experience and loyalty is serially mediated by brand equity and customer satisfaction. Age, gender and education were found to be significant moderators in the customer experience-loyalty relationship. Age and gender were found to be significant moderators in the brand equity-loyalty relationship. Practical implications: The study strongly suggests that practitioners not only focus on delivering exceptional customer experiences but also on providing leverage brand equity and satisfaction to build customer loyalty. Practitioners should focus on training their front-line employees to improve the quality of their behavior and relations with customers and thereby build customer loyalty. Originality/value: To the authors' knowledge, this is the first study to explore the mediating role of several variables sequentially and the moderating role of customer demographics in the customer experience-customer loyalty relationship.

Download or read book The Impact of Positive Customer Experiences on Customer Loyalty in the Lebanese Retail Banking Sector written by Raphael G. Andonian and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The literature shows that great customer experiences can build and sustain loyalty, which, in turn, improves profitability, market share, sales and growth. Thus, it was important to test if positive customer experience impacts loyalty in the Lebanese retail banking sector, a sector considered as highly competitive. In addition, the paper aimed at showing whether there was a significant difference in loyalty and in customer experience between the group of people dealing with a single bank and the group of people dealing with many banks. Finally, customer experience was compared between people of different levels of loyalty, namely the promoters, the neutrals, and the detractors. The statistical analysis showed that loyalty was slightly higher in the group of people dealing with one bank. However, this difference was not significant. Overall, Customer Experience was not significantly different between people dealing with a single bank, and people dealing with more than one ban ...

Download or read book Determinants of Customer Loyalty in Retail Banking written by Deniz Kundakci and published by . This book was released on 2010 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Into Retail Bank Loyalty written by Elimawaty Rombe and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper is presented to provide the role of service quality, perceived value and customer satisfaction in determining customer loyalty of retail banking in Central Sulawesi, Indonesia. The study involved customers of national retail banks, Islamic banks, and a local government owned bank in this area. Five hypotheses were developed for empirical testing on a sample of 225 banks' customers. The results indicated that customer satisfaction was significantly influenced by both service quality and perceived value, while customer loyalty was significantly influenced by both customer satisfaction and perceived value. It is also revealed that perceived value was significantly influenced by service quality.

Download or read book Marketing and Smart Technologies written by Álvaro Rocha and published by Springer Nature. This book was released on 2019-11-28 with total page 484 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book includes selected papers presented at the International Conference on Marketing and Technologies (ICMarkTech 2019), held at Maieutica Academic Campus (University Institute of Maia & Polytechnic Institute of Maia) in Maia, Portugal, from 27 to 29 November 2019. It covers up-to-date cutting-edge research on artificial intelligence applied in marketing, virtual and augmented reality in marketing, business intelligence databases and marketing, data mining and big data, marketing data science, web marketing, e-commerce and v-commerce, social media and networking, geomarketing and IoT, marketing automation and inbound marketing, machine learning applied to marketing, customer data management and CRM, and neuromarketing technologies.

Download or read book Brand Loyalty written by Jacob Jacoby and published by John Wiley & Sons. This book was released on 1978 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Business Model Innovation in the Retail Banking Industry written by Nicholas Meyer and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Mobile banking is a comparatively new field of activity in retail banking. Among its numerous possible applications, banks are striving to further improve customer loyalty and the business benefits this concept entails. This raises in turn major questions: How important is the impact of mobile services on the activity of banks and customer loyalty? Do banks need to fundamentally rethink their business models and that of their loyalty program around the emerging mobile platforms? If so, how? Retail banking loyalty programs represent an ideal research artefact due to their unique qualities at the crossroads between mobile banking, mobile payments and mobile currency innovations. Although not yet fundamentally in danger from various new entrants currently entering the mobile payment market, retail banks need to consider new business model configurations. The main purpose of this thesis is to research how retail banking loyalty program business models are being transformed through the implementation and use of mobile financial services. Moreover, the problematic is approached from a strategic management perspective, within the context of business model design and innovation (BMI) research. The thesis' research first aims at developing a modular tool that enables the visualization of loyalty program business model concepts. Secondly, the thesis empirically investigates the potential for BMI by implementing a chosen business model innovation method (i.e. BMI Process Model as proposed by Bucherer, 2010). Four case studies relating to retail banking loyalty programs in the USA, Japan and Switzerland, developed through secondary literature research and expert interviews, support the thesis' research objectives. The conducted research reveals significant differences in existing loyalty strategies and program implementations within the retail banking industry. Key strategic considerations on the sought-after type of customer loyalty have.

Download or read book Analysing Factors Influencing Consumer Decision Making Process for Mortgage Services written by P. Tamizhselvan and published by GRIN Verlag. This book was released on 2023-09-25 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: Doctoral Thesis / Dissertation from the year 2021 in the subject Business economics - Customer Relationship Management, CRM, grade: Commended, Bharathiar University (Tamil Nadu Institute of Urban Studies), course: Ph.D, language: English, abstract: The consumer attitude towards the various financial services products in the past was very passive and attracted less interest. But after the advent of technology and new forms of internet-based Banking, have had a great impact on consumer's attitudes and how they purchase financial products and services. The financial services providers are not certain of retaining their customers and have resorted to the traditional technique of the relationships building and loyalty practices. This makes it all the more important for financial services providers to understand the attitudes of customers and influence their decision-making and behavioral patterns. Consumers tend to search for product information either explicitly or implicitly depend on the attention, perception and other environmental cues related to information on the product. In literature, the choice of a mortgage is conceptualized as a function of value, prepayment, points, type of mortgage sought, etc. A prerequisite for consumers to make good decisions is to have all the relevant information therefore Banks must adopt a mandatory disclosure policy to facilitate this information search.

Download or read book Self Congruity written by M. Joseph Sirgy and published by Praeger. This book was released on 1986-08-05 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: Self-Congruity provides a comprehensive understanding of the self-concept, integrating the many references to it in the psychological literature. Using his previous findings, the author considers cognitive-versus-affective phenomena, and intrapersonal, interpersonal, situational, and analytic modes. He then applies his integrated theory to the problem of change in self-concept and behavior.

Download or read book Retail Banking written by A. Omarini and published by Springer. This book was released on 2016-01-12 with total page 518 pages. Available in PDF, EPUB and Kindle. Book excerpt: The world of retail banking is changing. While previously a purely money-making entity, the industry has brought social responsibility onto its agenda, and the ground rules for success have altered. Traditional convictions, rules and values that have influenced all banking business in the past are brought into question by this shift, and banks are adopting bold strategies in order to win out over competitors. Taking both multidisciplinary and holistic approaches, Retail Banking is a comprehensive analysis of how traditional retail banks can meet the challenges of the emerging competitive landscape. It outlines the importance of considering the traditional fundamentals of banking and fitting them into the modern times, where technology is pervasive and developments in the macro and micro scenarios have changed the landscape of the industry. It highlights that modern retail banking is a conscious step away from the past, and suggests that for banks to succeed in this field, they must step away from ad-hoc initiatives and instead encourage loyalty and a life-long confidence in each of their customers. This book will be of interest to those with in interest in retail banking, bank management, business models and strategies and financial services.

Download or read book An empirical examination of the antecedents of customer loyalty in retail banking in Spain written by Jose Pita Castelo and published by . This book was released on 2000 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Power of Mobile Banking written by Sankar Krishnan and published by John Wiley & Sons. This book was released on 2014-05-19 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt: Today's tech-savvy consumers are demanding a more personal customer experience from their banks, and banks are discovering that mobile services deliver individualized, tailored experiences better than any other technology. The Power of Mobile Banking: How to Profit from the Revolution in Retail Financial Services gives banking and financial professionals a well-researched guide for becoming transformational leaders. These leaders can convert their traditional retail "branch" banks into streamlined systems that deliver personalized services to their customers' laptops, tablets, and smartphones. Written by Sankar Krishnan—a career banker and noted financial services industry thought leader—The Power of Mobile Banking includes strategies for adapting mobile banking practices that suit the needs of both developed and emerging markets. Krishnan also shows how bankers can make their products and services relevant to a new generation of digital natives. Krishnan explores the expanding mobile payment systems that offer a wealth of financial opportunities for banking institutions and includes information on the growth of e-commerce, which holds the potential for new and profitable ways for banks to engage with consumers. The Power of Mobile Banking outlines the practical aspects of adapting to a mobile banking strategy and shows how to put the right players in place to ensure the technology works seamlessly. Once in place, a great mobile system delivers excellent service and benefits to users, as well as real value and unique features that cement customer loyalty. The book also offers advice for bankers who want to increase their bottom line by delving into the world-wide prepaid card market. Krishnan includes a discussion on the risks and hazards of mobile banking and reveals the critical investments that banks must be willing to make in order to avoid losing customers to telecoms, retailers, and technology providers. The time for retail banking to prepare for the new paradigm is now and The Power of Mobile Banking is the guide for professionals who want to adapt, evolve, and succeed in this new mobile-driven world.