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Blekinge Company of Technology
What Pushes Customer Loyalty and Success? Analysis of Perspectives coming from Retail Consumers in Ghana's Banking Industry
By: Daniel Nukpezah & Cephas Nyumuyo
Supervisor: Prof. Anders Hederstierna
Thesis pertaining to the Master's degree in operation Administration Planting season, 2009
Customer devotion as a concept is a essential strategic choice in today's competitive environment. It is no surprise as a result that managers and analysts have elevated their study and knowledge of the concept being a strategic marketing imperative in the last decades for capturing market share and improve profitability. Indeed the theoretical perspective is that competitive pricing and also company graphic and popularity contribute to customer satisfaction and that service quality along a number of path ways drives consumer loyalty and profitability thus: service quality--> customer satisfaction--> customer loyalty --> market share --> profitability. A few empirical studies have got found these linkages to be true. Nevertheless these factors differ in importance depending on the social setting. All of us investigate (1) whether these relationships exist and (2) which of those factor(s) is/are important in motivating consumer loyalty from the perspectives of retail bank customers in Ghana.
The study draws on customer behaviour and attitude premised on the SERVQUAL and SERVPERF models started by Parasuraman et 's., (1988), Cronin and Taylor (1992), and Brady and Cronin (2001) respectively and also other researches based upon the literary works on customer satisfaction and commitment. We applied both quantitative and qualitative research approaches in our research and have drawn from both principal and secondary sources of data. We utilized a 7 point likert scale to build up indexes to get the main constructs measured with this study and applied correlation, chi square (П‡2) and regression examines to evaluate the hypothesised human relationships. Further we qualitatively analysed aspects of your data hinging about explanatory areas of our exploration. The outcomes among other things disclose that whilst service quality (especially sympathy and reliability) and traditional bank image and reputation are crucial instigators of customer satisfaction and loyalty, competitive pricing showed a weakened linear romance with client satisfaction and commitment (r < 0. 5). On the other hand, increased market share was found to influence banks' profitability. Finally we go over the supervision implications of the study when it comes to customer retention and earnings strategies for the banks in Ghana. All of us emphasise that management strategies that are service quality mindful, use person-organisation fit methods to recruitment and effectively speak strategies could help institutionalise a culture that is customer relationship centred, support banks survive the competition, keep their customers and in the long run increase their profitability.
Key words: Service top quality, customer satisfaction, competitive pricing (price satisfaction), client loyalty, company image and reputation, buyer switching, earnings, market share, SERVPERF, SERVQUAL. ACKNOWLEDGEMENTS
A work of the nature cannot have been created without assistance of some type. We want to therefore recognize a few people and institutions that helped inside the realisation with this research work. First and foremost we extend our gratitude to Prof. Anders Hederstierna for supervisory this function. We give thanks to him specifically his evaluate of our original proposal. This kind of helped re-aligned our actually diffused ideas into point of view. The School of Management, Blekinge Institute of Technology, Sweden gave all of us the opportunity to start in this very long...