The Impact of Customer Satisfaction on Loyalty in the Ghana Banking Sector: The Effect of Trust Mediation

Banahene, Stephen

doi:10.14738/assrj.512.5545

Cited by 8 publications

(4 citation statements)

References 1 publication

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“…Additionally, CT significantly and favorably impacted CS and CL Morgan and Hunt's (1994) study found that CT positively impacted CS and CL. Banahene, Mensah, and Asamoah (2018) looked at how CS affected loyalty and how trust acted as a moderator. According to the study's findings, CS positively impacted loyalty both directly and indirectly via trust.…”

Section: Corporate Social Responsibilitymentioning

confidence: 99%

Factors Influencing Customer Loyalty in Banks: The Mediating Effect of Customer Trust

Khan,

Ramzan,

Ahmad

et al. 2023

BBE

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This study adds to the body of existing knowledge by examining the relationship between service quality (SQ), customer satisfaction (CS), brand reputation (BR), corporate social responsibility (CSR), and the mediating effect of customer trust (CT). This study's primary goal is to identify the individual and intuitive effects of service quality, customer satisfaction, brand reputation, and corporate social responsibility (CSR) on customer loyalty (CL). Additionally, the research investigates the significance of consumer trust as a mediator. The research collected responses from a diverse sample of 300 banking customers. A structured questionnaire was employed as the primary instrument for data collection. The questionnaire was made available to the bank customers in Lahore through online channels. The Statistical Package for the Social Sciences (SPSS), Smart Partial Least Squares (PLS) and MS Excel was used for data analysis. A robust analysis was also performed by using MS Excel. The results show that CSR did not considerably meaningfully affect CL, even while SQ, CS, and BR had strong positive impacts on customer loyalty. This result calls for further research into the particular facets of CSR that might affect CL in the banking industry. The findings of the research may be specific to the context of the banking industry in Lahore and might not be directly generalizable to other regions or industries. The outcomes of this research offer practical implications for banking institutions seeking to enhance customer loyalty. Understanding the drivers of loyalty can guide strategic decisions related to SQ, CS, and BR.

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Section: Corporate Social Responsibilitymentioning

confidence: 99%

Factors Influencing Customer Loyalty in Banks: The Mediating Effect of Customer Trust

Khan,

Ramzan,

Ahmad

et al. 2023

BBE

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“…There is a direct correlation between customer satisfaction and customer loyalty. Due to the likelihood of making repeat purchases from the customer, the customer will be a loyal and satisfied customer (Banahene et al, 2018). With the lower price, a customer will start to believe that this certain brand is offering superior quality at a reasonable price, and as a result, they will begin to trust the brand, and thus he or she will become loyal to the brand (Yusuf et al, 2019).…”

Section: Relationship Between Customer Satisfaction and Customer Loyaltymentioning

confidence: 99%

How Social Media moderates the impact of Service Quality and Customer Satisfaction on Consumer Loyalty

Malik

Hasnain

Fazil

et al. 2022

RAMSS

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The banking sector continues to face intense competitive pressures in a global economy where customer satisfaction, customer loyalty, and service quality continue to be critical factors. The aim of this study is to examine the relationship between service quality and customer satisfaction and customer loyalty. Additionally, in order to fill the empirical literature gap, the role of social media has been examined as a moderator. 230 retail banking customers from Pakistan were chosen as a representative sample. Using the structured questionnaire, convenient (non-probability) sampling was employed to gather primary data from the target population. A statistical analysis of the collected data was conducted using Structural Equation Modeling - Partial Least Squares (SEM-PLS). The findings of the study revealed that customer loyalty is significantly influenced by service quality and customer satisfaction. Furthermore, social media also influences the correlations between service quality and customer satisfaction with consumer loyalty. This study will provide retail banking management and strategists with various useful insights about how to manage service quality and customer satisfaction in relation to customer loyalty.

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“…Considering the evolutionary needs of banking customers in multiple contexts, marketing scholars (e.g. Albaity and Rahman, 2021;Banahene et al, 2018) argue that continuous research on the factors that impact trust and ultimately the future loyalty intentions of customers is required. Nkwede et al (2022) further argued the need to explore customer trust more in an African banking context in emerging markets.…”

Section: Introductionmentioning

confidence: 99%

Do you want my loyalty? Then understand what drives my trust – a conventional and Islamic banking perspective

Roberts-Lombard,

Petzer

2024

IMEFM

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Purpose The purpose of this research is to develop an enhanced understanding of the drivers of trust and loyalty in a conventional and Islamic banking setting. Design/methodology/approach The study’s sample included South African retail bank customers who had Islamic or conventional products and who were 18 years or older. A field services company collected data from respondents through the distribution of self-administered questionnaires and a total of 949 questionnaires were deemed suitable for data analysis. SmartPLS 3.2.7 and Hayes Process Macro for SPSS tested the study’s hypotheses. Findings Comparing conventional banking customers with Islamic banking customers, the path from trust to customer loyalty was statistically significantly different across customer type, while the paths between trust and customer orientation, information sharing, and service fairness were not statistically significantly different across customer type. A closer examination of the path coefficients reveals that the relationship between trust and loyalty is stronger for conventional banking customers than for Islamic banking customers. Practical implications The findings of the study guide both conventional and Islamic banks in South Africa on how banks should redesign their purpose as the providers of financial resources to their customer segments. It highlights the need for these banks to secure a more focused approach on how to deliver financial resources and consulting services to customers in a trusting, engaging and reliable manner. Originality/value The study provides insight into Islamic and retail bank customers’ perceptions of the drivers of trust and loyalty and how these constructs’ interrelationships differ between Islamic and conventional banking customers.

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The Impact of Customer Satisfaction on Loyalty in the Ghana Banking Sector: The Effect of Trust Mediation

Cited by 8 publications

References 1 publication

Factors Influencing Customer Loyalty in Banks: The Mediating Effect of Customer Trust

Factors Influencing Customer Loyalty in Banks: The Mediating Effect of Customer Trust

How Social Media moderates the impact of Service Quality and Customer Satisfaction on Consumer Loyalty

Do you want my loyalty? Then understand what drives my trust – a conventional and Islamic banking perspective

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