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Article
Publication date: 15 November 2021

Metin Argan, Güven Sevil, Abdullah Yalaman and Viktor Manahov

The purpose of the research is to gain an understanding about how stock market investors impact various behavioural personality traits in various consumer groups with…

Abstract

Purpose

The purpose of the research is to gain an understanding about how stock market investors impact various behavioural personality traits in various consumer groups with differing levels of motivation and capacity to absorb emerging stock market data.

Design/methodology/approach

The research has used structural equation modelling (SEM) to test the validity of the theoretical model.

Findings

The current paper is the first study that uses stock market data from an emerging economy to examine the relationship between stock market investment and different behavioural patterns such as stock market attachment, trust, satisfaction and loyalty. The authors observe the presence of direct positive relationships between stock market investment and different behavioural personality traits. Moreover, the authors also observe that stock market attachment can be seen as an intermediary variable between stock investment involvement and satisfaction. The empirical findings also suggest the presence of indirect relationships between stock investment involvement and satisfaction and between stock market attachment and loyalty. The authors find that the indirect relationship between stock market attachment and loyalty occurs when the level of satisfaction is higher. Therefore, satisfaction appears to facilitate the relationship between stock market attachment and loyalty.

Research limitations/implications

One major limitation of the study is data availability. More specifically, the study was conducted with customers of eight different banks in the province of Eskisehir, Turkey. From the 250 questionnaires distributed, 173 were returned, yielding a response rate of 69.2%.

Practical implications

By identifying the trait characteristics of segments of stock market participants relative to their propensity to invest in stocks, it is possible to tailor messages that influence people to invest for the long term.

Originality/value

The paper deploys stock market data from an emerging economy to investigate the relationship between stock market investment and different surface traits such as stock market attachment, trust, satisfaction and loyalty. To the best of the authors' knowledge the current paper is the first such study.

Details

Review of Behavioral Finance, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1940-5979

Keywords

Article
Publication date: 20 May 2021

Davood Ghorbanzadeh

Satisfaction and loyalty as vital and strategic concepts in marketing literature are highly important to companies and marketers. The review of the existing literature…

Abstract

Purpose

Satisfaction and loyalty as vital and strategic concepts in marketing literature are highly important to companies and marketers. The review of the existing literature reveals a gap of the role of emotional constructs that can begin in a regular and rational sequence of satisfaction and ultimately lead to the formation of consumer loyalty. Hence, in the current study, we seek to answer the question of whether emotional constructs such as emotional attachment and love play a mediating role in the process of transitioning from satisfaction to loyalty in the correct sequence.

Design/methodology/approach

A total of 300 valid questionnaires on Smartphone and apparel brands were collected from respondents and analyzed using the partial least squares method.

Findings

The results showed that brand love is the strongest antecedent of brand loyalty and is the only variable that directly influences brand loyalty in comparison to satisfaction and emotional brand attachment. Moreover, the examination of indirect effects revealed that our assumption based on that the emotional structures such as emotional attachment and brand love play a mediating role in the process of transitioning from satisfaction to loyalty in a correct sequence is supported.

Research limitations/implications

Generalizability needs to be established with a wider range of consumer groups. The survey was conducted in Iran and future research should assess the same product categories in other cultural settings as well as consider other product categories to assess the external validity of these results. The insights on consumers' brand relationships help brand managers devise effective brand management strategies.

Practical implications

The managerial implications can guide managers toward enhancing the consumers' loyalty to the brand through a better understanding of the consumer loyalty process to a brand as well as better relational marketing practices.

Originality/value

The study validates the mediating role of emotional brand attachment and brand love in the relationship between brand satisfaction and brand loyalty; is one of the first to develop a conceptual model that examines the role of emotional structures in the process of transition from satisfaction to loyalty.; is one of few studies to develop the role of emotional structures in the form of a relational chain of brands in the process of transition from satisfaction to loyalty.

Details

Asia-Pacific Journal of Business Administration, vol. 13 no. 3
Type: Research Article
ISSN: 1757-4323

Keywords

Article
Publication date: 9 February 2021

Dyah Puspitasari Srirahayu, Esti Putri Anugrah and Khoirotun Layyinah

This study aims to determine the NPS score of state academic libraries users in Indonesia, the relationship between user loyalty and NPS scores and the relationship…

Abstract

Purpose

This study aims to determine the NPS score of state academic libraries users in Indonesia, the relationship between user loyalty and NPS scores and the relationship between user satisfaction with NPS.

Design/methodology/approach

The method used in this research is quantitative explanatory method, which surveyed the relationship between satisfaction, loyalty and NPS variables based on the development of previous studies and existing theories. The population in this study were students visiting the state university library in Surabaya, Indonesia, namely Library A, Library B, Library C and Library D. The total number of samples taken was 200 divided equally to each of the universities, with 50 respondents respectively. Data collection was done with a questionnaire.

Findings

The Result shows that NPS value for academic library in Indonesia was 8. (1) The probability value of satisfaction with NPS is 0.18 (greater than 0.01) so H1 is rejected, meaning that satisfaction has no significant effect on NPS, (2) The probability value of satisfaction with loyalty is < 0.01 so that H0 is accepted. This means that satisfaction has a significant effect on loyalty and (3) The probability value of loyalty to NPS is < 0.01 so that H0 is accepted. This indicates that loyalty has a significant effect on NPS.

Research limitations/implications

To get user satisfaction, libraries need to improve facilities and services in accordance with the characteristics and needs of users, so that user expectations will be met and achieve satisfaction. When user satisfaction has been fulfilled, user loyalty to library products will be formed, so the NPS score will increase which is manifested by users recommending the library to others. This research has limitations, namely that the object of research is only in public higher education centers, so for generalization it is necessary to add research objects such as private college libraries, public libraries or school libraries.

Originality/value

Research on loyalty by using NPS has not been done much especially in Indonesia. This study also examines the relationship between satisfaction and loyalty on NPS scores.

Details

Library Management, vol. 42 no. 6/7
Type: Research Article
ISSN: 0143-5124

Keywords

Article
Publication date: 28 June 2021

Abdullah Alkraiji and Nisreen Ameen

This study examines the effect of multidimensional constructs on citizen loyalty to e-government services. More specifically, it examines the effects of service quality…

1133

Abstract

Purpose

This study examines the effect of multidimensional constructs on citizen loyalty to e-government services. More specifically, it examines the effects of service quality, trust and satisfaction on loyalty to these services.

Design/methodology/approach

The data were collected via a questionnaire that was completed by 780 foundation-year students in government universities in Saudi Arabia. The students who participated in the study had used a unified system provided by the Ministry of Education in Saudi Arabia for university admission. The data were analysed using structural equation modelling.

Findings

The key findings revealed that the factors service quality, trust in government, trust in e-government services and citizen satisfaction play a significant role in developing citizen loyalty to e-government services. Trust in government has the strongest direct effect on citizen loyalty to e-government services, and service quality has the strongest total effect on citizen loyalty. In contrast, citizen satisfaction has the least significant influence on citizen loyalty to e-government services.

Originality/value

This study proposes a new model for citizen loyalty to e-government services that combines the service quality model and trust theory. In addition, this study is among the first to categorise trust into three factors – trust in government, trust in e-government and disposition to trust – and integrate them into a model. Furthermore, the study reveals the roles of satisfaction and service quality in developing citizen loyalty. The findings of this study fill a gap in knowledge on citizen trust in, satisfaction with and loyalty to e-government services.

Details

Information Technology & People, vol. 35 no. 4
Type: Research Article
ISSN: 0959-3845

Keywords

Open Access
Article
Publication date: 11 January 2021

Davood Ghorbanzadeh and Atena Rahehagh

Satisfaction and loyalty as vital and strategic concepts in the marketing literature are highly important to companies and marketers. The review of the existing literature…

9108

Abstract

Purpose

Satisfaction and loyalty as vital and strategic concepts in the marketing literature are highly important to companies and marketers. The review of the existing literature reveals a gap of the role of emotional constructs that can begin in a regular and rational sequence of satisfaction and ultimately lead to the formation of consumer loyalty. Hence, this study aims to answer the question of whether emotional constructs such as emotional attachment and love play a mediating role in the process of transitioning from satisfaction to loyalty in the correct sequence.

Design/methodology/approach

A total of 300 valid questionnaires on smartphone and apparel brands were collected from respondents and analyzed using the partial least squares method.

Findings

The results showed that brand love is the strongest antecedent of brand loyalty and is the only variable that directly influences brand loyalty in comparison to satisfaction and emotional brand attachment. Moreover, the examination of indirect effects revealed that our assumption based on that the emotional structures such as emotional attachment and brand love play a mediating role in the process of transitioning from satisfaction to loyalty in a correct sequence is supported.

Research limitations/implications

Generalizability needs to be established with a wider range of consumer groups. The survey was conducted in Iran, and future research should assess the same product categories in other cultural settings as well as consider other product categories to assess the external validity of these results. The insights on consumers’ brand relationships help brand managers devise effective brand management strategies.

Practical implications

The managerial implications can guide managers toward enhancing the consumers’ loyalty to the brand through a better understanding of the consumer loyalty process to a brand as well as better relational marketing practices.

Originality/value

The study validates the mediating role of emotional brand attachment and brand love in the relationship between brand satisfaction and brand loyalty, is one of the first to develop a conceptual model that examines the role of emotional structures in the process of transition from satisfaction to loyalty, is one of few studies to develop the role of emotional structures in the form of a relational chain of brands in the process of transition from satisfaction to loyalty.

Details

Rajagiri Management Journal, vol. 15 no. 1
Type: Research Article
ISSN: 0972-9968

Keywords

Article
Publication date: 17 May 2011

Li‐Wei Wu

Many studies have documented that satisfaction does not always result in loyalty, and that dissatisfaction does not necessarily result in defection. In response, this…

4239

Abstract

Purpose

Many studies have documented that satisfaction does not always result in loyalty, and that dissatisfaction does not necessarily result in defection. In response, this study goes beyond satisfaction and proposes the moderating effects of locational convenience, interpersonal relationships, and commitment between satisfaction and customer loyalty across search, experience, and credence attribute services.

Design/methodology/approach

Hierarchical moderated regression analysis was used to test the hypotheses.

Findings

The results suggest that from search attribute services to experience and credence attribute services, the relative importance of locational convenience with regard to retaining dissatisfied customers is likely to decline. Search and experience attribute services that can develop and maintain close interpersonal relationships with their customers are more likely to retain dissatisfied customers. Commitment maintains customer loyalty, even when customer satisfaction is lower across search, experience, and credence attribute services.

Originality/value

This study discriminates dissatisfied customers' loyalty behaviors based on locational convenience from those behaviors resulting from interpersonal relationships and commitment across service types, and thus has significance for the marketing strategies of businesses providing different service types, particularly in terms of dissatisfaction resolution strategies.

Details

Managing Service Quality: An International Journal, vol. 21 no. 3
Type: Research Article
ISSN: 0960-4529

Keywords

Article
Publication date: 2 October 2017

Ana Rita Biscaia, Maria J. Rosa, Patrícia Moura e Sá and Cláudia S. Sarrico

The effects of customer satisfaction on loyalty have been widely discussed by the academic community. Although the results of the studies reported in the literature are…

4586

Abstract

Purpose

The effects of customer satisfaction on loyalty have been widely discussed by the academic community. Although the results of the studies reported in the literature are often contradictory, the existence of a relationship between satisfaction and loyalty is acknowledged, despite the influence of moderators and constraints of various kinds. The purpose of this paper is to discuss this relationship in the specific context of the retail sector, since this sector presents major challenges in terms of competition, and efforts placed on customer satisfaction and loyalty are more evident.

Design/methodology/approach

A survey based on the European Customer Satisfaction Index (ECSI) model was applied to a retail store in Portugal. This model has its roots in Switzerland, where in 1989, Claes Fornell developed a new complementary method for measuring the overall quality of companies’ output, through the calculation of an aggregated customer satisfaction index. The proposed model is based on a set of causal relationships established between a set of constructs. The ultimate goal is to calculate both satisfaction and loyalty indexes as well as to estimate the relationship between both constructs. Structural equation modelling, based on a partial least squares (PLS) estimation methodology, is the statistical technique used to estimate the model parameters, as well as to compare the aggregated indexes. PLS is based on the principles of linear regression and combines multiple regression aspects with factor analysis, in order to estimate a series of interrelated relationships.

Findings

The results confirm a positive influence of satisfaction on customers’ loyalty to the retail store. The study also shows the importance of the image construct, due to its strong direct effects on satisfaction, which makes it essential for influencing the loyalty index, both directly and indirectly. The impact of the image construct is also evident on the expectations, as the latter has shown a considerable direct effect on perceived quality.

Research limitations/implications

The study is based on a single case study of a Portuguese sports retail store. In future it would be interesting to study a representative sample of the whole retail sector.

Practical implications

The study is useful for the specific retail store where it was undertaken to help it devise better customer service, in order to increase satisfaction and loyalty. It is also useful for the entire network of stores for that retailer and other retail chains.

Social implications

The systematic application of customer surveys to whole sectors of the economy would improve competition, customer service and, ultimately, contribute to development and economic growth.

Originality/value

The ECSI has been applied to various industry sectors in different countries, including Portugal. It has never been used in the context of the Portuguese retail sector and it adds to the discussion on the relationship between satisfaction and loyalty, which is a pertinent topic of interest for researchers in quality management.

Details

International Journal of Quality & Reliability Management, vol. 34 no. 9
Type: Research Article
ISSN: 0265-671X

Keywords

Article
Publication date: 23 October 2018

Jennifer A. Espinosa, David J. Ortinau, Nina Krey and Lisa Monahan

The purpose of this paper is to study how repeat customers utilize their established overall restaurant brand image (ORBI), overall restaurant loyalty, satisfaction and…

4378

Abstract

Purpose

The purpose of this paper is to study how repeat customers utilize their established overall restaurant brand image (ORBI), overall restaurant loyalty, satisfaction and behavioral intentions (revisit, recommend) to reengage with a casual-dining restaurant brand.

Design/methodology/approach

The study design consists of a mixed-methods, two-phase research approach that includes both qualitative and quantitative data. First, focus groups and in-depth interviews with adult customers reveal preliminary insights on restaurant dining patterns and familiarity with franchised casual dining restaurants. Second, an online self-administered survey tests the influence of ORBI on repeat customers’ overall restaurant loyalty, satisfaction and behavioral intentions.

Findings

For repeat customers, ORBI positively predicts loyalty and satisfaction. Loyalty and satisfaction mediate the relationship between ORBI and intentions to recommend, while loyalty alone mediates the relationship between ORBI and intentions to revisit a casual dining restaurant.

Practical implications

Managers looking to stimulate recommendation intentions can increase ORBI, loyalty or satisfaction among repeat customers; or choose some combination of these three predictors. To improve revisit intentions, managers should first increase loyalty, followed by ORBI. Importantly, management needs to tailor information given to repeat customers differently than other customers.

Originality/value

This paper provides a first conceptualization of how both loyalty and satisfaction jointly mediate the relationships between ORBI and two behavioral intentions (revisit, recommend). The results show that loyalty plays a significant role in these predictive relationships and is more important than satisfaction for enhancing intentions to revisit a restaurant.

Details

Journal of Product & Brand Management, vol. 27 no. 6
Type: Research Article
ISSN: 1061-0421

Keywords

Article
Publication date: 6 November 2018

Saman Sheikhesmaeili and Sana Hazbavi

The purpose of this paper is to determine the impact of food-related lifestyle (FRL) and food-related personality traits (FRPTs) on customer satisfaction and loyalty so…

Abstract

Purpose

The purpose of this paper is to determine the impact of food-related lifestyle (FRL) and food-related personality traits (FRPTs) on customer satisfaction and loyalty so that sufficient evidence for forming a new pattern of predictors of customer satisfaction and loyalty can be explored.

Design/methodology/approach

The research method in this study was the descriptive type and was based on the goal of the applied research methods. Data were collected from 384 sample group consumers of chain stores in the city of Tehran. The hypothesized relationships were tested using structural equation modeling (SEM).

Findings

Final results of study showed the significant effects of FRL and FRPT on satisfaction and loyalty of consumers. This indicates that aforementioned variables can create customer satisfaction and loyalty toward food. The research conceptual model was confirmed with goodness of fit.

Research limitations/implications

First, the sample consisted of customers who use a wide range of food despite diverse motives and interests. While knowing that costumers’ specific traits about food would have provided a more detailed and comprehensive understanding, conducting research in a set of general food consumer without considering special foods category could be a limitation. Second, and more importantly, since the customer behavior in consumption choices is an unconscious and cognitive process, other factors and domain that are linked to customer satisfaction and loyalty would have been missed.

Practical implications

This study shows that understanding the behavioral aspects of food consumption can help food producing companies to adjust their production and specially to foresee changes. Marketers are advised to investigate customer traits to promote customer satisfaction and loyalty effectively. This paper contributes to the body of knowledge in food marketing.

Originality/value

The present study offers a unique and valuable insight into a customer’s behavior and deepens customer satisfaction and loyalty by incorporating FRL, food neophobia scale and food involvement scale as independent variables to contribute knowledge in the context of food marketing, and throws some light upon the predictive power of mentioned variables on customer behaviors.

Details

British Food Journal, vol. 121 no. 1
Type: Research Article
ISSN: 0007-070X

Keywords

Open Access
Article
Publication date: 2 December 2020

Peter Madzík and Arash Shahin

The purpose of this study is to present and explain a new customer segmentation approach inspired by failure mode and effect analysis (FMEA) which can help classify…

2793

Abstract

Purpose

The purpose of this study is to present and explain a new customer segmentation approach inspired by failure mode and effect analysis (FMEA) which can help classify customers into more accurate segments.

Design/methodology/approach

The present study offers a look at the three most commonly used approaches to assessing customer loyalty:net promoter score, loyalty ladder and loyalty matrix. A survey on the quality of restaurant services compares the results of categorizing customers according to these three most frequently used approaches.

Findings

A new way of categorizing customers through loyalty priority number (LPN) is proposed. LPN was designed as a major segmentation criterion consisting of customer loyalty rate, frequency of purchase of products or services and value of purchases. Using the proposed approach allows to categorize customers into four more comprehensive groups: random, bronze, silver and gold – according to their loyalty and value to the organization.

Practical implications

Survey will bring a more accurate way of categorizing customers even in those sectors where transaction data are not available. More accurate customer categorization will enable organizations to use targeting tools more effectively and improve product positioning.

Originality/value

The most commonly used categorization approaches such as net promoter score, loyalty ladder or loyalty matrix offer relatively general information about customer groups. The present study combines the benefits of these approaches with the principles of FMEA. The case study not only made it possible to offer a view of the real application of the proposed approach but also made it possible to make a uniform comparison of the accuracy of customer categorization.

Details

International Journal of Quality & Reliability Management, vol. 38 no. 8
Type: Research Article
ISSN: 0265-671X

Keywords

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