Ranking the effect of services marketing mix elements on the loyalty of customers by using Topsis method (case study: city bank branches in Tehran)
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DOIhttp://dx.doi.org/10.21511/im.13(2).2017.04
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Article InfoVolume 13 2017, Issue #2, pp. 41-46
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Successful companies do not only pursue sale, but they are looking for satisfactions of customers and their loyalty. This study aims to rank effect of services marketing mix elements on the customers’ loyalty in the City Bank. Method of this research is survey and causal-comparative and domesticated questionnaire was used for gathering data which its validity was confirmed by experts and its reliability with Cronbach alpha 0.908. Statistical sample size was 384 loyal customers of City Bank in Tehran based on Cochrane formula and simple random sampling was used as sampling method. Findings showed that there is significant relationship in average level between physical factors and environmental factors including distribution of physical facilities and customer loyalty and the relationship between competence related factors including promotion of employees or customers’ loyalty is strongly significant. Besides, there is significant relationship between services related factors including product, price, operation management and quality of services or customers’ loyalty in moderate level. It is suggested that for attracting loyal customers, more attention should be paid to promotion which has very strong relationship with customers’ loyalty. It is suggested that City Bank increases the motivation of employers in providing careful and rapid services for improving productivity and services quality by suitable incentives.
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JEL Classification (Paper profile tab)M31
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References22
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Tables2
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Figures3
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- Fig. 1. Services marketing mix model (8P) (Lovelock & Wright, 1999)
- Fig. 2. Effective factors on bank customer loyalty model (Richeld, 1994)
- Fig. 3. Conceptual model for services marketing mix and effective factors on customer satisfaction relation (Davis-Srameck, Mentzer& Sank, 2007)
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- Table 1. Results obtained by hypotheses analysis using Spearman correlation coefficient
- Table 2. Results obtained by services’ marketing mix elements based on the effective factors on bank customer loyalty by Topsis method
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Factors that affect customer loyalty in small enterprises
Zeleke Worku
doi: http://dx.doi.org/10.21511/im.15(4).2019.07
The study was conducted by collecting the data from 608 customers of migrant retailers working in the retail industry of Pretoria West in South Africa in order to identify socioeconomic factors that affect customer loyalty. Data was collected from eligible respondents by using a pre-tested, validated and standardised questionnaire of study that was self-administered by respondents. The study found that about 69% of customers were loyal to their retailers. About 68% of customers had a favorable attitude towards their retailers. About 68% of retailers used appropriate promotional measures for marketing their goods to potential customers. About 69% of retailers provided their customers with satisfactory quality of services. About 67% of customers were loyal to their retailers’ brands. Factor analysis was used for extracting 3 influential predictors of customer loyalty. These factors were entrepreneurial skills, marketing skills, and selling price. The percentage of variance explained by the 3 extracted factors was equal to 92.58%.
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A study on the effect of service quality on customer loyalty and corporate performance in financial industry
Problems and Perspectives in Management Volume 15, 2017 Issue #2 (cont. 2) pp. 355-363 Views: 2204 Downloads: 720 TO CITE АНОТАЦІЯSince the government opened to the establishment of new private banks in 1990s, the competition in banking industry has become fierce in Taiwan. Especially, the establishment of financial holding companies after 2000s has resulted in the merge among financial institutions. The competition in banking industry becomes even fiercer. The price war of interest rate among banks gradually shortens the deposit and lending rate difference in banking industry that banks could no longer survive with the traditional business of deposit and lending rate differences. Banks have to attract customers with different service quality, satisfy customer needs, and create new profits for banking industry. Generally speaking, service quality is related to customer satisfaction after receiving service, and satisfaction becomes the internal assessment indicator of financial industry for customers. A lot of excellent foreign businesses or national financial institutions present brilliant competitiveness in the field of finance by the specialty and service quality. Taking Land Bank of Taiwan as the research subject, this study aims to discuss the effect of service quality on customer loyalty and corporate performance in financial industry.
It is discovered in this study that an enterprise enhancing the service quality through the mediation effect of customer loyalty could effectively promote the corporate performance. For this reason, the relationship between customer loyalty and service quality, corporate performance are established in this study, and the results of the analysis could be the reference for banking industry in Taiwan. -
Measuring the customer satisfaction based on SERVQUAL model (case study: Mellat Bank in Tehran city)
Today marketers seek the ways and information to create loyal customers, because it reduces the marketing and operations costs and increases the benefits. In every organization, whether manufacturing or service, customers is the most important factor of ensuring the survival of organization. If the organization succeeds in attracting customers and creating their loyalty, the field of its growth and long term survival can be provided. It is possible to achieve this through studying and planning by management, and this will lead at the end to the comprehensive recognition of customer needs. Since focusing on factors of customers’ satisfaction has a significant effect in banking, so, identifying the categories and priorities of these factors are important. All hypotheses of this study are approved both by Student’s t-test and Friedman test. The results of study indicated that the factors of reliability, accountability and credit factors, respectively, have more importance in order of priority. In credit factors: variety of banking services (providing any kind of services which customers need); in accountability factors: speed in providing banking services; in reliability factors: proper behavior of staff is considered of the most priority.
