Determinants of customer loyalty in the banking sector: The case of Pakistan

Jaweria · leeb Qureshi · Asad Shahjehan

101 citations0/0 files storedGlobal Journal of Business Management

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Customer Service Quality and Loyalty Banking Sector Performance and Management Customer churn and segmentation

Abstract

The concept of customer loyalty has received much consideration and attention from both academics and practitioners in different industries. In increasingly competitive markets, being able to build consumer loyalty is seen as the key factor in winning market share and developing a sustainable competitive advantage. Banking industry is no exception as it has high interaction with the customers, so managers must understand the factors which influence the loyalty of the customers towards their respective banks. It is always costly to attract new customers, so the managers always try to find ways to retain their current customers and concentrate on different factors which enhances the customer loyalty among the customers of the organizations. This research attempts to find the factors of customer loyalty and their relationships with the banking industry in one of the developing countries, which is Pakistan. Then analyzing the relationship among different factors, a model for the customer loyalty is proposed at the end of the research. In order to do this, a questionnaire is designed and validated, then based on the data which is gained from the 316 respondents' answers to the designed questionnaire, the analysis is done and the results and the relations among the factors are explained. Perceived quality, satisfaction, trust, switching cost and commitment are the factors which influence the loyalty of the customers. Theses factors also influence each other as well. The relationships of different factors with each other are also studied and the SPSS software is used to analyze the data gathered from the respondents.

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References

1993Conceptualizing, Measuring, and Managing Customer-Based Brand Equity 1980A Cognitive Model of the Antecedents and Consequences of Satisfaction Decisions 1992Information Systems Success: The Quest for the Dependent Variable 2001The Chain of Effects from Brand Trust and Brand Affect to Brand Performance: The Role of Brand Loyalty 1993The Antecedents and Consequences of Customer Satisfaction for Firms 2002Customer loyalty in e-commerce: an exploration of its antecedents and consequences 2002Why customers stay: measuring the underlying dimensions of services switching costs and managing their differential strategic outcomes 2005The analysis of antecedents of customer loyalty in the Turkish mobile telecommunication market

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2012The Impact of Service Quality, Customer Satisfaction and Loyalty Programs on Customer's Loyalty: Evidence from Banking Sector of Pakistan.2019Do corporate social responsibility activities enhance customer satisfaction and customer loyalty? Evidence from the Saudi banking sector 2011Factors affecting customer loyalty in Pakistan 2022Impact of corporate image on customer loyalty of Islamic banks: the role of religiosity, collectivism, sight cues and CSR

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