A Literature Review Of Customer Loyalty

Today’s world competition is very strong in every kind of businesses. Every organisations must provide high quality products or services in order to survive, however their competitors also providing the same or comparable products or services. An important way to an organisation to get an edge over its competitors is to provide extra service to satisfy and delight their customers, which can retain them and also gain new customers. Therefore the achievement of customer satisfaction must be a major objective in all organisations.

Today's world competition is very strong in every kind of businesses. Every organisations must provide high quality products or services in order to survive, however their competitors also providing the same or comparable products or services. An important way to an organisation to get an edge over its competitors is to provide extra service to satisfy and delight their customers, which can retain them and also gain new customers. Therefore the achievement of customer satisfaction must be a major objective in all organisations.

Thus, companies seek to strengthen customer loyalty. Brand loyalty is considered to tilt the consumer to purchase the package / product specific brand (Jacoby and Chestnut, 1978). Later, Oliver (1997) defined loyalty as "a deeply held commitment to REBUY or repatronize preferred product / service consistently in the future, thereby causing repetitive same-brand or same brand set purchasing, despite situational influences and marketing activities, which would result in causing switching behavior "(p. 34). This conceptual definition covers two different aspects of loyalty: the behavioral. This is consistent with an integrated conceptual framework proposed by Dick and Basu (1994), that customer loyalty is regarded as a "power relationship between the relative position of the individual and repeat

The customer central model, was the springboard for what Commerce believed was the “value of the bank”, customer deposits (Frei, 2006, p.5.) Hill believed that by focusing on “non-rate” reason deposits, that he could build a deposit base. “Banks had given up on growing all together because theu thought you had to pay the highest deposit rate to get growth” (Frei, 2006, p.5.). Hills’s philosophy was just the opposite, the bank provided customers with an unforgettable experience in exchange for a deposit rate, half a point less than the competition. This lower rate enables Commerce to stay open later and have more additional benefits for its members. These benefits include no fee banking and even ATM fee refunds to high balance members.

The core of an organization is the customers. If a business does not have customers, they will not have any revenue, profit or market value. Therefore, many companies have enhanced their customer service departments and also use surveys and questionnaires to help them measure their performance. Companies are mindful that customer delight is a substantial driver for their long-term success. This involves companies being conscious of the fact that their ability to answer customer’s needs

In statistics, regression analysis is a statistical process for estimating the relationships among variables. It includes many techniques for modeling and analyzing several variables, when the focus is on the relationship between a dependent variable and one or more independent variables.

This Chapter gives discussion on the result discovered and conclusion watched aftereffects of the impacts of service quality dimension on customer satisfaction and loyalty in the managing the bank industry.

Zeithaml and Bitner (2000) defined customer satisfaction as the "customers' evaluation of a product or service in terms of whether that product or service has met their needs and expectations". Therefore, satisfaction is a consumer's post-purchase evaluation and affective response to the overall product or service experience. In other words, what consumer perceives after a product or service consumption determines his/her satisfaction. Many researches have concluded that satisfaction can determine the customer loyalty. Customer loyalty defined as "a deeply held commitment to re-buy or re-use a preferred product/service consistently in the future, thereby causing repetitive same-brand or same brand-set purchasing, despite situational influences and marketing efforts have the potential to cause switching behavior. The satisfaction/dissatisfaction occurring through a matching or mismatching of expectations and perceived performance leads to loyalty behaviour.

Theory of the customer satisfaction has a central situation in marketing as it is a major effect of promotion movement and their and it relation the process of buy and utilization or use of the product or services to manner changes say again buy and finally product loyalty. Beginning of the concept is related to the marketing concept that profit is generated through pleasure of customer wants and needs. Business vocabulary defines customer satisfaction as: The scale of satisfaction provided by the goods or services of a company as considered by the figure of repeat customers. Idea of customer satisfaction is new to unlimited companies, who have been on price and accessibility of goods. So, it is significant to be clear the accurate

According to A Theory of Multidimensional Brand Loyalty (Sheth & Park, 1974), brand loyalty was a positive bias toward the brand and they classified brand loyalty behavior into three dimensions. Firstly, emotive tendency, it relate to positive emotion toward favorable brand than other brands such as likeliness, premium-value, etc. Secondly, evaluation tendency, it relate to positive evaluation toward the particular brand. For instance, consumer may evaluate particular brand that it has higher performance, which affect the utility of product, so they intend to buy the particular brand over the other brands due to the positive evaluation. Thirdly, behavioral tendency, it relate to the trust on physical activities of brand. The consumer may trust on the brand and consume it even they have to pay in advance. Hence, this behavior needs to learn from buying experience and consuming product of the brand as usual. Moreover, Sheth and Park stated that at least one of these three dimensions could create brand loyalty. Hence, as showing in Figure1, there would

The goal of this module is to explain the concept of customer loyalty, its significance, its benefits, and the factors that affect customer loyalty. Here it is explained why customer loyalty is beneficial for a business and how it helps in profitability. This module discusses the types of customer loyalties, which ones among them are profitable and which are not, as well as the methods to turn non-profitable loyalties into profitable loyalties. It also shows the reasons why a business should invest in customer loyalty programmes. Some statistics are shown which explain why some companies who invest in customer relationship programmes profit more than their rivals do. The factors that affect customer loyalty are described. It also points out the principles that a company needs to follow, to reap the benefits of customer loyalty.

Customer satisfaction refers to the feeling of gratitude a customer or client gets after purchasing goods or services from a particular firm. Every business must have its tactics to ensure that their customers are contented with the type of service offered or the goods sold and as such will come back anytime when in need of the same type of goods or service. To ensure proper customer satisfaction, the staff must practice good customer engagement.

The relationship between customer loyalty and customer satisfaction International Journal of Contemporary Hospitality Management 13/5[2001] 213.217 becauseitisthe mostconvenient location. Whena newhotelopens acrossthestreet, they switch because the new hotel offers better value. Thus, repeat purchase does not always mean commitment. Attitudinal measurements use attitudinal data to reflect the emotional andpsychological attachment inherentinloyalty.

Dick and Basu (1994, p. 99) define loyalty as “the strength of the realtionship between an individual’s realtive attitude and their repeat

Customer satisfaction can be experienced in a variety of situations and connected to both goods and services. It is a highly personal assessment that is greatly affected by customer expectations. Satisfaction also is based on the customer’s experience of both contacts with the organization and personal outcomes.