Customer Loyalty as a Construct in the Marketing of Banking Services

Abstract

The usefulness of loyalty as a construct for understanding and analysing the market for banking services is here discussed. Using empirical data, the socio‐demographic, attitudinal and behavioural characteristics of loyal versus non‐loyal bank patrons are described. Bank loyalty can be measured and is useful in explaining differences in banking skills, expected benefits and attitudes towards banks and level of utilisation of banking services.

The antecedents of consumer loyalty in retail banking

“…The relationships between loyalty and customer characteristics, to include demographics, attitudes and personality, have been investigated by Fry et al, (1973); Jain et al, (1987) and Shemwell et al, (1994). The interrelationships between satisfaction, purchase intentions and loyalty have been the focus of Jones and Suh (2000) who distinguished between transaction specific and overall satisfaction, and Yu and Dean (2001) who assessed cognitive and affective satisfaction.…”

An exploratory study of factors influencing repurchase behaviors toward game items: A field study

“…Specifically, customer and product attributes such as emotion, attitude, and repurchase behavior, affect brand loyalty. The theory has been employed to better understand customer's purchasing behavior of banking service (e.g., Jain, Pinson, & Malhotra, 1987;Nguyen & LeBlanc, 1998), higher education service (Nguyen & LeBlanc, 2001), mobile phone service (Said, 2014), and grocery retailing (Molina, Martín, Santos, & Aranda, 2009). However, our study is the first to use this theory in the field of on-line game.…”

A field study of customers’ switching behavior for bank services

“…Some of the past research has focused on such issues as selection of banks (Anderson et al, 1976;Dupuy and Kehoe, 1976;Linneman and Davis, 1976;Javalgi et al, 1989), relationship banking (Berry and Thompson, 1982), market segmentation (Hood and Walters, 1985;Kinnaird et al, 1984) and customer satisfaction (Spreng et al, 1995;Levesque and McDougall, 1996;Fienberg, 1996;Mittal and Lassar, 1998;Athanassopoulos, 2000). The topic of bank switching and bank loyalty is also gaining the attention of researchers (Jain et al, 1987;Moutinho and Brownlie, 1989). Colgate and Hedge (2001) provided empirical evidence from banking customers in Australia and New Zealand and classified reasons for switching banks into three major problem areas, namely, service failure, pricing, and denied services.…”