The Role of Long-Term Orientation and Service Recovery on the Relationships between Trust, Bonding, Customer Satisfaction and Customer Loyalty: The Case of Nigerian Retail Banks

Abstract

In spite of consolidation of Nigerian retail banks, the industry is still embattled by customer complaints, lost of customer confidence and loyalty erosion. Extant literature has amply reported the associations between relational dynamics of trust, bonding, customer satisfaction and customer loyalty. However, these reports are contradictory and thus, inconclusive. Meanwhile, literature has argued extensively on the influence of cultural values on customer decision making and buying behaviour. Yet, very little is known of the interaction effect of long-term orientation on the link between trust, bonding and customer satisfaction in retail banking sector. Similarly, while several studies have documented the significant effect of customer complaints on customer loyalty, there is no noticeable research evidence on the intervening effect of service recovery on the relationship between the independent and the dependent variables. To fill these gaps, this conceptual paper is written.

Customers emotional intelligence and satisfaction: The mediation of bankers emotional labour

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Individual cultural values as determinants of the attitudinal process in the restaurant: a different perspective for understanding brand equity formation

“…The literature has shown the moderating role of individual cultural values on green consumer behaviour, e.g., the more individualistic a consumer is, the more likely they are to develop good practices (Lu et al, 2015). Similarly, the moderating effect of long-term orientation in building loyalty to the restaurant has been studied , and also in other domains such as higher education (Abubakar & Mokhtar, 2015) or banking (Abubakar et al, 2013). Similarly, individual cultural values have a clear determinant role (cause or antecedent), empirically demonstrated in areas such as education, in an attempt to understand how it affects the likelihood of bullying or being a victim of bullying (Georgiu et al, 2018), and also in consumer behaviour (Czarnecka et al, 2020).…”