Search results for: loyalty of bank clients

Authors: Tolga Gok, Kursad Sayin

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The aim of this study is to investigate the relationship between expectation, satisfaction and loyalty of South Korean tourists visiting Turkey. In the research, a questionnaire was used as a data collecting tool. The questionnaires are filled by South Korean tourists coming to Turkey through package tours and individual. The survey was conducted in 2014 in Nevsehir (Cappadocia Region) and Istanbul. Tourist guides and agency staff have helped the implementation of surveys. The survey questions are composed of 4 parts, which are “demographic characteristics of tourists”, “travel behavior characteristics”, “perception of expectations on destination attributes” and “perception of destination loyalty”. 5-point Likert type scale including 28 destination attributes was used to measure the expectations of South Korean tourists coming to Turkey. Questions were directed to the tourists to measure the destination loyalty. The questions relating to destination loyalty are “Talking about Turkey to others”, “Recommendation Turkey to others” and “Tourists’ intentions to revisit Turkey”. The basic hypothesis of the research is that there is a statistically significant relationship among expectations, satisfactions and destination loyalty of South Korean tourists coming to Turkey. The results indicated that the expectation had a significant effect on overall satisfaction. In addition, it was seen that between overall satisfaction of tourists and destination loyalty had a significant relationship. Based on findings, some suggestions for tour operators and travel agencies were made.

Keywords: tourist expectation, tourist satisfaction, destination loyalty, destination attributes

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Authors: S. R. Nikhashemi, Laily Haj Paim, Ali Khatibi

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Structural Equation Modeling (SEM) was used to test a hypothesized model explaining Malaysian hypermarket customers’ perceptions of brand trust (BT), customer perceived value (CPV) and perceived service quality (PSQ) on building their brand loyalty (CBL) and generating positive word-of-mouth communication (WOM). Self-administered questionnaires were used to collect data from 374 Malaysian hypermarket customers from Mydin, Tesco, Aeon Big and Giant in Kuala Lumpur, a metropolitan city of Malaysia. The data strongly supported the model exhibiting that BT, CPV and PSQ are prerequisite factors in building customer brand loyalty, while PSQ has the strongest effect on prediction of customer brand loyalty compared to other factors. Besides, the present study suggests the effect of the aforementioned factors via customer brand loyalty strongly contributes to generate positive word of mouth communication.

Keywords: brand trust, perceived value, Perceived Service Quality, Brand loyalty, positive word of mouth communication

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Authors: Mina Zaky Sarofim Zaky

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Experiential marketing is a form of marketing that offers a unique integration of experiential and entertainment elements into a product or service. Experiential marketing is defined as an unforgettable experience that penetrates the customer's mind. Customer satisfaction is also defined as the emotional response to the experience provided with the purchased product or service. Experiential marketing activities can, therefore, affect the level of customer satisfaction and loyalty. In this context, the study aims to determine the relationship between experiential marketing, customer satisfaction and customer loyalty in cosmetic products in Konya. The least squares method (PLS) was used to analyze the research data. Existing research has shown that experiential marketing is a significant predictor of customer satisfaction and customer loyalty, and that experiential marketing has a positive impact on customer satisfaction and customer loyalty.

Keywords: internet, marketing, tourism, tourism management corporate responsibility, employee organizational performance, internal marketing, internal customer experiential marketing, customer satisfaction, customer loyalty, social sciences

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Authors: Kanmanas Muensak, Somphoom Saweangkun

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The objectives of this research were to study the consumer behavior that affects the customer loyalty of CP Fresh Mart in Bangkok province. The sample of the study comprised 400 consumers over 15 years old who made the purchase through CP Fresh Mart in Bangkok. The questionnaires were used as the data gathering instrument, and the data were analyzed applying Percentage, Mean, Standard Deviation, Independent Sample t-test, Two- Way ANOVA, and Least Significant Difference, and Pearson’s Correlation Coefficient also. The result of hypothesis testing showed that the respondents of different gender, age, level of education, income, marital status and occupation had differences in consumer behavior through customer loyalty of CP Fresh Mart and the factors on customer loyalty in the aspects of re-purchase, word of mouth and price sensitive, promotion, process, and personnel had positive relationship with the consumer behavior through of CP Fresh Mart in Bangkok as well as.

Keywords: consumers in Bangkok, consumer behavior, customer loyalty, CP Fresh Mart, operating budget

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Authors: Wafa Ghonaim

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Though quite fast on growth, Islamic financing at large, and its diverse instruments, is a controversial matter among scholars. This is evident from the ongoing debates on its Shariah compliance. Arguments, however, are inciting doubts and concerns among clients about its credibility, which is harming this lucrative sector. The work here investigates, particularly, some issues related to the Tawarruq instrument. The work examines the issues of linking Murabaha and Wakala contracts, the reselling of commodities to same traders, and the transfer of ownerships. The work affirms that a multi-agent smart electronic market design would facilitate Shariah compliance. The smart market exploits the rational decision-making capabilities of autonomous proxy agents that enable the clients, traders, brokers, and the bank buy and sell commodities, and manage transactions and cash flow. The smart electronic market design delivers desirable qualities that terminate the need for Wakala contracts and the reselling of commodities to the same traders. It also resolves the ownership transfer issues by allowing stakeholders to trade independently. The bank administers the smart electronic market and assures reliability of trades, transactions and cash flow. A multi-agent simulation is presented to validate the concept and processes. We anticipate that the multi-agent smart electronic market design would deliver Shariah compliance of personal financing to the aspiration of scholars, banks, traders and potential clients.

Keywords: Islamic finance, share'ah compliance, smart electronic markets design, multiagent systems

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Authors: Mamiza Haq

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This paper examines the relevance of bank capital and charter value on bank insolvency and liquidity risks. Using an unbalanced panel of 2,111 unique local banks across 22 countries over 1998-2012, we find that both bank capital and charter value lower insolvency and liquidity risks, but this effect varies among conventional, Islamic, and Islamic-window banks. The risk constraining effect of bank capital becomes more prominent in the post 2007-2008 global financial crisis. Moreover, the relationships vary when conditioned upon other key bank-specific characteristics. For instance, the effect of capital on risk-reduction diminishes in the presence of high charter value for conventional-G7 and Islamic-window banks, during-GFC and pre-GFC period; respectively. Our findings have important policy implications related to bank safety. The results are robust to a range of robustness tests.

Keywords: bank capital, charter value, risk, financial crisis

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Authors: Rizwan Ali, Hammad Zafar

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The purpose of this research is to investigate the mediation effect of customer satisfaction in the relationship between service quality, corporate image to customer loyalty, in Pakistan banking sector. The population of this research is banking customers and sample size of 210 respondents. This research uses the SPSS, Correlation, ANOVA and regression analysis techniques along with AMOS methods. The service quality and corporate image applied by the banks are not all variables can directly affect customer loyalty, but must first going through satisfaction. Which means that banks must first need to understand what the customer basic needs through variable service quality and corporate image so that the customers feel loyal when the level of satisfaction is resolved. The service quality provided by the banking industry needs to be improved in order to improve customer satisfaction and loyalty of banking services, especially for banks in Pakistan.

Keywords: customer loyalty, service quality, corporate image, customer satisfaction

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Authors: John Akpesiri Olotewo

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One of the controversies in existing marketing literatures is on how to retain existing and new customers to have repurchase intention in the long-run; however, empirical answer to this question is scanty in existing studies. Thus, this study investigates the moderating effect of consumer loyalty on long-run repurchase intentions in telecommunication industry using Lagos State environs. The study adopted field survey research design using questionnaire to elicit responses from 250 respondents who were selected using random and stratified random sampling techniques from the telecommunication industry in Lagos State, Nigeria. The internal consistency of the research instrument was verified using the Cronbach’s alpha, the result of 0.89 implies the acceptability of the internal consistency of the survey instrument. The test of the research hypotheses were analyzed using Pearson Product Method of Correlation (PPMC), simple regression analysis and inferential statistics with the aid of Statistical Package for Social Science version 20.0 (SPSS). The study confirmed that customer satisfaction has a significant relationship with customer loyalty in the telecommunication industry; also Service quality has a significant relationship with customer loyalty to a brand; loyalty programs have a significant relationship with customer loyalty to a network operator in Nigeria and Customer loyalty has a significant effect on the long run repurchase intentions of the customer. The study concluded that one of the determinants of long term profitability of a business entity is the long run repurchase intentions of its customers which hinges on the level of brand loyalty of the customer. Thus, it was recommended that service providers in Nigeria should improve on factors like customer satisfaction, service quality, and loyalty programs in order to increase the loyalty of their customer to their brands thereby increasing their repurchase intentions.

Keywords: customer loyalty, long run repurchase intentions, brands, service quality and customer satisfaction

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Authors: Azlinda Saadon

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This paper provides detail review on river bank erosion studies with respect to their processes, methods of measurements and factors governing river bank erosion. Bank erosion processes are commonly associated with river changes initiation and development, through width adjustment and planform evolution. It consists of two main types of erosion processes; basal erosion due to fluvial hydraulic force and bank failure under the influence of gravity. Most studies had only focused on one factor rather than integrating both factors. Evidences of previous works have shown integration between both processes of fluvial hydraulic force and bank failure. Bank failure is often treated as probabilistic phenomenon without having physical characteristics and the geotechnical aspects of the bank. This review summarizes the findings of previous investigators with respect to measurement techniques and prediction rates of river bank erosion through field investigation, physical model and numerical model approaches. Factors governing river bank erosion considering physical characteristics of fluvial erosion are defined.

Keywords: river bank erosion, bank erosion, dimensional analysis, geotechnical aspects

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Authors: Sima Radmanesh, Nahid Radmanesh, Mohsen Yaghmoor

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The presence of large number of active rival gas companies on Persian Gulf border necessitates the adaptation and implementation of effective employee retention strategies as well as implementation of promoting loyalty and belonging strategies of specialized staffs in the South Pars gas company. Hence, this study aims at assessing the amount of organizational loyalty and explaining the effect of institutional justice on organizational justice with regard to the role of mediator variables of spirituality in the work place and organizational trust. Therefore, through reviewing the related literature, the researchers achieve a conceptual model for the effect of these factors on organizational loyalty. To this end, this model was assessed and tested through questionnaires in South Pars gas company. The research method was descriptive and correlation-structural equation modeling. The findings of the study indicated a significant relationship between the concepts addressed in the research and conceptual models were confirmed. Finally, according to the results to improve effectiveness factors affecting organizational loyalty, recommendations are provided.

Keywords: organizational loyalty, organizational trust, organizational justice, organizational spirit, oil and gas company

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Authors: Bassam Shaikh, R. S. A. Jumain

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Game addiction has become an extremely important topic in psychology researchers, particularly in understanding and explaining why individuals become addicted (to video games). In previous studies, effect of online game addiction on social responsibilities, health problems, government action, and the behaviors of individuals to purchase and the causes of making individuals addicted on the video games has been discussed. Extending these concepts in marketing, it could be argued than the phenomenon could enlighten and extending our understanding on consumer loyalty. This study took the Grounded Theory approach, and found that motivation, satisfaction, fulfillments, exploration and achievements to be part of the important elements that builds consumer loyalty.

Keywords: grounded theory, consumer loyalty, video games, video game addiction

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Authors: Anita Kéri

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Satisfying foreign student needs has been in the center of research interest in the past several years. Higher education institutions have been exploring factors influencing foreign student satisfactionto stay competitive on the educational market. Even though foreign student satisfaction and loyalty are topics investigated deeply in the literature, the academic years of 2020 and 2021 have revealed challenges never experienced before. With the COVID-19 pandemic, new factors have emerged that might influence foreign student satisfaction and loyalty in higher education. The aim of the current research is to shed lights on what factors influence foreign student satisfaction and loyalty in the post-pandemic educational era and to reveal if the effects of factors influencing satisfaction and loyalty have changed compared to previous findings. Initial results show that students are less willing to participate in online surveys during and after the pandemic. The return rate of the survey instrument is below 5%. Results also reveal that there is a slight difference in what factors have significant effects on school-related and non-school-related satisfaction and overall loyalty, measured pre- and post-pandemic times. The results of the current study help us determine what factors higher education institutions need to consider when planning the future service affordances for their foreign students that might influence their satisfaction and loyalty.

Keywords: pandemic, COVID-19, satisfacion, loyalty, service quality, higher education

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Authors: Supattra Kanchanopast

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The purpose of this study was to study the relationship between customer satisfaction and customer loyalty through social media of service business. This study collected data from 187 customers who have used social media of service business to buy product or service in Thailand. Statistics including frequency, percentage, standard deviation and Person’s Correlation test were used. The finding revealed that the majority of the respondents were female, 25-40 years old, graduated the bachelor degree, had monthly income 15,000-25,000 Baht and worked in private sectors. The mostly respondents have reserved the accommodation/homestay/hotel through Facebook about 3-4 times. The hypothesis testing disclosed that the satisfaction in customer invitation and data presentation perspective had a correlation with the level of customer loyalty: recommendation to others in terms of sharing. In addition, the satisfaction in customer relationship management perspective had a positive correlation with customer loyalty through social media of service business with respect to repeat purchase and recommendation to others at the 0.05 level of significance.

Keywords: customer satisfaction, customer loyalty, relationship, service business, social media

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Authors: Marwen Ghouil, Jamel Eddine Mkadmi

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Banking performance is the pillar and goal of all banking activity and its impact on economic policy. First, researchers defined the principles for assessing and modeling bank performance, and then theories and models explaining bank performance were developed. The importance of credit as a means of financing businesses in most developing countries has led to questions about the effects of financial liberalisation on increased banking competition. In Tunisia, as in many other countries, the liberalization of financial services in general and of banks' activities has not ceased to evolve. The objective of this paper is to examine the determinants of banking performance for 8 Tunisian banks and their impact on economic policy during the Arab Spring. We used cointegration analysis and the ARDL Panel model, explaining using total assets, bank credits, guarantees, and bank size as performance drivers. The correlation analysis shows that there is a positive correlation relationship between total assets, bank credits, guarantees, and bank size and bank performance. Long-term empirical results show that bank loans, guarantees, bank size, and total assets have a positive and significant impact on bank performance. This means that bank credits, guarantees, bank size, and total assets are very important determinants of bank performance in Tunisia.

Keywords: bank performance, economic policy, finance, economic

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Authors: Lincoln Panjaitan, Antonius Sumarlin

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The development of property businesses in the metropolitan area is growing rapidly forcing big real estate developers to come up with various strategies in winning the heart of consumers. This empirical research is focusing on how the two schools of marketing thoughts; namely, Modern and postmodern marketing employed by the preceding developers to retain consumers’ commitment toward their prospective brands. The data was collected from three different properties of PT. Intiland Tbk using accidental sampling technique. The data of 600 respondents was then put into Structural Equation Model (SEM). The result of the study suggests that both schools of thought can equally produce commitment and loyalty of consumers; however, the difference lays where the loyalty belongs to. The first is more toward developer’s brand and the latter is more toward the co-creation value of the housing community.

Keywords: consumer loyalty, consumer commitment, knowledge sharing platform, marketing mix

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Authors: Mohamed Mohsen

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The purpose of this study is to explore the level of service quality performance from the perspectives of hotel guests. The aim is to examine hotel guests’ perceptions of service quality performance and its relation with their brand loyalty and gender. The study utilized the instrument of SERVPERF developed by Cronin and Taylor (1992) to measure service quality performance. The study was conducted in three upscale hotels in Saudi Arabia. The study found that service quality performance is significantly correlated to both brand loyalty and gender of hotel guests. The study also found that loyal and female hotel guests have perceptions of service quality performance than do non-loyal and male hotel guests. This research is the first empirical study in the Middle East that links service quality performance with brand loyalty and gender of hotel guests.

Keywords: service quality, SERVPERF, customer satisfaction, brand loyalty, gender

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Authors: Sufrin Hannan, Budi Suharjo, Rita Nurmalina, Kirbrandoko

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The challenge for independent surveyor service companies now is growing with increasing uncertainty in business. Protection from the government for domestic independent surveyor industry from competitor attack, such as entering the global surveyors to Indonesia also no longer exists. Therefore, building customer loyalty becomes very important to create a long-term relationship between an independent surveyor with its customers. This study aims to develop a model that can be used to build customer loyalty by looking at various factors that determine customer loyalty, especially on independent surveyors for coal inspection in Indonesia. The development of this model uses the relationship marketing approach. Testing of the hypothesis is done by testing the variables that determine customer loyalty, either directly or indirectly, which amounted to 10 variables. The data were collected from 200 questionnaires filled by independent surveyor company decision makers from 51 exporting companies and coal trading companies in Indonesia and analyzed using Structural Equation Model (SEM). The results show that customer loyalty of independent surveyors is influenced by customer satisfaction, trust, switching-barrier, and relationship-bond. Research on customer satisfaction shows that customer satisfaction is influenced by the perceived quality and perceived value, while perceived quality is influenced by reliability, assurance, responsiveness, and empathy.

Keywords: relationship marketing, customer loyalty, customer satisfaction, switching barriers, relationship bonds

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Authors: Sukritta Larsen, Kevin Wongleedee

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The purposes of this research were to study tourists’ destination loyalty from the perspective of international tourists in Bangkok and to study the level of interest to revisit Bangkok in the near future. A probability random sampling of 200 international tourists was utilized. Half of the sample group was male and the other half was female. A Likert-five-scale questionnaire was designed to collect the data and small in-depth interviews were also used to obtain their opinions. The findings revealed that the majority of respondents had a medium level of loyalty. When examined in detail, the destination loyalty indicators can be ranked according to the mean average from high to low as follows: to recommend the visit, to say positive things, to revisit in the next three years, to refer the information, and to plan to visit regularly. Finally, the findings from the in-depth interviews with small group of international tourists revealed that the major obstacles that prevented many international tourists who may interested in revisiting Thailand included traffic congestions, high crime rate, and political instability.

Keywords: destination loyalty, international tourists, revisit, Bangkok

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Authors: C. Mothobiso, D. Root

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Purpose: This study attempts to identify the clients’ main priorities when delivering green projects. The aim is to compare if the clients have the same interest that are similar in delivery of convectional buildings as compared to green buildings. The main purpose is to find why other clients are investing in green buildings while others are reluctant and adopting green building at a slow pace. Design/methodology/approach: A sample of construction professional accredited by the Green Building Council of South Africa (GBCSA) was sent a questionnaire to participate in the research. Since GBSCSA accredited professionals have knowledge and experience about the green buildings, they are chosen as the sample. The research is qualitative because it evaluates the perceptions and knowledge around the subject matter. Research limitations: The research focuses only on the South African construction clients. Findings: Findings reveal that private clients invest more on green buildings as compared to government and parastatal entities. Private clients prioritise on maximising returns on investments and they mainly invest on buildings that save energies and have low life cycle costs. Private clients are perceived to be more knowledgeable about the benefits of green building project as compared to government and Parastatals clients. Shortage of expertise and managerial skill leads to low adaptation of green buildings in the government and parastatal projects. Other factors, which seem to disintegrate the adoption of green buildings, are the readiness of supply chain within the industry and inappropriate procurements strategies adopted by clients. The evaluation of the clients’ priorities will enable the design team to come up with innovative ways to approach the design process so that clients’ priorities and needs are identified and met. Practical implications: The findings are indicating that clients’ needs and priorities have a huge impact on the delivery of the project in terms of time, quality and cost of the project.

Keywords: construction clients, design team, green construction and project deliver

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Authors: Fernanda M. Assef, Maria Teresinha A. Steiner

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The aim of this paper is to compare and discuss better classifier algorithm options for credit risk assessment by applying different Machine Learning techniques. Using records from a Brazilian financial institution, this study uses a database of 5,432 companies that are clients of the bank, where 2,600 clients are classified as non-defaulters, 1,551 are classified as defaulters and 1,281 are temporarily defaulters, meaning that the clients are overdue on their payments for up 180 days. For each case, a total of 15 attributes was considered for a one-against-all assessment using four different techniques: Artificial Neural Networks Multilayer Perceptron (ANN-MLP), Artificial Neural Networks Radial Basis Functions (ANN-RBF), Logistic Regression (LR) and finally Support Vector Machines (SVM). For each method, different parameters were analyzed in order to obtain different results when the best of each technique was compared. Initially the data were coded in thermometer code (numerical attributes) or dummy coding (for nominal attributes). The methods were then evaluated for each parameter and the best result of each technique was compared in terms of accuracy, false positives, false negatives, true positives and true negatives. This comparison showed that the best method, in terms of accuracy, was ANN-RBF (79.20% for non-defaulter classification, 97.74% for defaulters and 75.37% for the temporarily defaulter classification). However, the best accuracy does not always represent the best technique. For instance, on the classification of temporarily defaulters, this technique, in terms of false positives, was surpassed by SVM, which had the lowest rate (0.07%) of false positive classifications. All these intrinsic details are discussed considering the results found, and an overview of what was presented is shown in the conclusion of this study.

Keywords: artificial neural networks (ANNs), classifier algorithms, credit risk assessment, logistic regression, machine Learning, support vector machines

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Authors: Md. Akiz Uddin

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This research attempted to identify the determining factors that extensively persuaded customers of the First Security Islamic Bank Limited (FSIBL) to open accounts and their perception and satisfaction level towards it. Initially, a theoretical model was established based on existing literature reviews. After that, a self-administered structured questionnaire was developed, and data were collected from 180 customers of the FSIBL of Bangladesh using purposive sampling technique. The collected data were later analyzed through a statistical software. Structural Equation Modelling (SEM) was used to verify the model of the study and test the hypotheses. The study particularly examined the determinants of opening accounts, customers’ perception and their satisfaction level towards the bank on several factors like the bank’s compliance with Shariah law, use of modern technology, assurance, reliability, empathy, profitability, and responsiveness. To examine the impact of religious belief on being FSIBL clients, the study also investigates non-Muslim clients’ perception about FSIBL. The study focused on FSIBL customers only from five branches of Dhaka city. The study found that the religious beliefs is the most significant factors for Muslim customers for considering FSIBL to open an account, and they are satisfied with the services, too. However, for non-Muslim customers, other benefits like E-banking, various user-friendly services are the most significant factors for choosing FSIBL. Their satisfaction level is also statistically significant. Furthermore, even if the non- Muslim customers didn’t consider religious beliefs as determinant factors for choosing FSIBL, the respondents informed that they have trust that people who believe in shariah law are more reliable to keep money with them. These findings open up the avenue for future researchers to conduct more study in this area through employing a larger sample size and more branches and extending the current model by incorporating new variables. The study will be an important addition to the potentials of Islamic banking system, literature of service quality and customer satisfaction level, particularly in the success of Islamic banking system in Bangladesh.

Keywords: islamic banking, customers’ satisfaction, customers’ perception, shariah law

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Authors: Aimen Batool Bint-E-Rashid, Syed Muhammad Dawood Ali Shah, Muhammad Usman Farooq, Mahgul Anwar

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As the world is progressing, the needs and demands of the consumer market are also changing. Nowadays the trends of consumer purchase decisions are dependent upon multiple factors. This study aims to identify the influential impact of country of origin over the perception and devotion towards daily personal care products specifically in reference to the knowledge and awareness regarding that particular brand in Pakistan. To corroborate this study, a 30-item brand origin questionnaire has been used with 300 purchase decision makers belonging to different age groups. To illustrate this study, a model has been developed based on brand origin, brand awareness and brand loyalty. Correlation and regression analysis have been used to find out the results which conclude the findings on the perspective of Pakistan’s consumer market as that brand origin has a direct relationship with brand loyalty provided that the consumer has a positive brand awareness. Support for the fact that brand origin impacts brand loyalty through brand awareness has been presented in this study.

Keywords: brand awareness, brand loyalty, brand origin, personal care products, P&G, Unilever

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Authors: Murat Erdoğdu, Mehmet Öçalan

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The main aim of this study is to find out the effects of the concepts of the brand awareness and the brand loyalty of teenagers (13-18) on their criteria to buy the products that attract high interest in the groups that do sports actively and vice versa. The training shoes that are thought to have high interests of teenagers were chosen in the study (because every student uses training shoes at least in physical education lessons) and searching the criteria to choose these products is one of the aims of this study. The sample of the research consisted of 775 teenagers doing sports (218 females, 557 males) and 752 teenagers not doing sports (399 females, 353 males) from the primary and secondary schools in the center of Ankara. 1527 students in total voluntarily participated in the study. When the effects of the brand functions perceived about the sample on the brand awareness was analyzed, it was found out that all of three function types have a positive and significant effect on the brand awareness. It was found out that there was a positive and average relationship between the dependence on a brand and the brand loyalty. It was understood that there was a positive and weak relationship between the brand loyalty and the general brand awareness in training shoes among teenagers. The groups of the teenagers doing sports and of the teenagers not doing sports showed significant differences in their preferences about training shoes. The effects of the criteria to buy training shoes on the brand loyalty showed significant differences in the groups. In addition, it was determined that according to their variables of doing sports actively, the teenagers doing sports actively have significantly higher brand awareness and brand loyalty than the teenagers not doing sports.

Keywords: brand awareness, brand loyalty sports marketing, teenagers, the level of doing sports

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Authors: Maria Evnevich

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In modern conditions, in most markets, price competition is becoming less effective. On the one hand, there is a gradual decrease in the level of marginality in main traditional sectors of the economy, so further price reduction becomes too ‘expensive’ for the company. On the other hand, the effect of price reduction is leveled, and the reason for this phenomenon is likely to be informational. As a result, it turns out that even if the company reduces prices, making its products more accessible to the buyer, there is a high probability that this will not lead to increase in sales unless additional large-scale advertising and information campaigns are conducted. Similarly, a large-scale information and advertising campaign have a much greater effect itself than price reductions. At the same time, the cost of mass informing is growing every year, especially when using the main information channels. The article presents generalization, systematization and development of theoretical approaches and best practices in the field of customer focus approach to business management and in the field of relationship marketing in the modern digital economy. The research methodology is based on the synthesis and content-analysis of sociological and marketing research and on the study of the systems of working with consumer appeals and loyalty programs in the 50 largest client-oriented companies in Russia. Also, the analysis of internal documentation on customers’ purchases in one of the largest retail companies in Russia allowed to identify if buyers prefer to buy goods for complex purchases in one retail store with the best price image for them. The cost of attracting a new client is now quite high and continues to grow, so it becomes more important to keep him and increase the involvement through marketing tools. A huge role is played by modern digital technologies used both in advertising (e-mailing, SEO, contextual advertising, banner advertising, SMM, etc.) and in service. To implement the above-described client-oriented omnichannel service, it is necessary to identify the client and work with personal data provided when filling in the loyalty program application form. The analysis of loyalty programs of 50 companies identified the following types of cards: discount cards, bonus cards, mixed cards, coalition loyalty cards, bank loyalty programs, aviation loyalty programs, hybrid loyalty cards, situational loyalty cards. The use of loyalty cards allows not only to stimulate the customer to purchase ‘untargeted’, but also to provide individualized offers, as well as to produce more targeted information. The development of digital technologies and modern means of communication has significantly changed not only the sphere of marketing and promotion, but also the economic landscape as a whole. Factors of competitiveness are the digital opportunities of companies in the field of customer orientation: personalization of service, customization of advertising offers, optimization of marketing activity and improvement of logistics.

Keywords: customer focus, digital economy, loyalty program, relationship marketing

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Authors: Murat Erdoğdu, Murat Koçyiğit

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Brand image and brand loyalty are among the most important relational marketing elements for brand owners to be able to set up long – term relationships with their customers and to maintain these relationships. Brand owners improve their brand images with the positive perceptions remaining in the consumers’ minds. In addition, they try to find the customers that are both emotionally and behaviourally faithful to themselves in order to set up long – term relationships. Therefore, the aim of this study is to analyse the effects of the brand image that has a very important role among relational marketing elements on the brand loyalty in terms of the variables such as the perceived value, the trust in brand and the brand satisfaction. In this context, a conceptual model was created to determine the effect of the brand image on the brand loyalty thanks to the Structural Equation Model (SEM). According to this aim and this model, the study was carried out in the scope of the data collected through the questionnaires in Konya with the method of convenience sampling. The results of the research showed that the brand image has positive significant effects on the perceived value and the trust in brand and that the trust in brand has positive significant effects on the brand satisfaction, and that the brand satisfaction has positive significant effects on the brand loyalty. Thus, the hypotheses that the brand image has direct effects on the perceived value and the trust in brand and that the trust in brand has direct effects on the brand satisfaction and that the brand satisfaction has direct effects on the brand loyalty were supported. In addition, the findings about whether the perceived value has a significant effect on the brand satisfaction were also acquired.

Keywords: brand image, brand loyalty, perceived value, satisfaction, trust

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Authors: Nicole Anne Bass Monsanto

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The objective of this study were to identify the numerous effective ways of capturing new members to participate in the brand hotel loyalty programs through the following objectives: (1) To differentiate the appropriate approach on selling the loyalty program to the different consumer market within their tier; (2) to evaluate the different behavioural degree of guests from different aspects of class and preference; (3) to compare the 3 hospitality tiers and the best tactic of approach according to their target market; (4) to assess the best practices suitable to the category of hotel in their specific tier. This study is a mixed methods research which involves both qualitative and quantitative. The qualitative research consisted of twelve management level respondents from 6 different hotels. These hotels were subdivided into 3 hotel tiers -- Luxury Hotels Upper Upscale Hotels and Mid-Scale Hotels—and the research studied two hotels of each hotel tier. Meanwhile, the quantitative research was conducted to further confirm and enhance the results by the means of guest post-stay surveys. Research findings of the qualitative research were as follows: (1) There are no differentiated best practices in capturing new enrolments based on the hotel tier. (2) There is only one key tool that determines the hotel loyalty program enrolment success. Meanwhile, the research findings of the quantitative research lead to the conclusion that most guests do not participate in the loyalty program was because they were not invited from the start.

Keywords: best practices, loyalty program, hospitality tier, enrollment success

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Authors: Kaiwan S. Ismael, Ergun Ercelebi, Majeed Nader

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This paper describes the design and implementation of a hardware setup for online monitoring of 24 refrigerators inside blood bank center using the microcontroller and CAN bus for communications between each node. Due to the security of locations in the blood bank hall and difficulty of monitoring of each refrigerator separately, this work proposes a solution to monitor all the blood bank refrigerators in one location. CAN-bus system is used because it has many applications and advantages, especially for this system due to easy in use, low cost, providing a reduction in wiring, fast to repair and easily expanding the project without a problem.

Keywords: control area network (CAN), monitoring blood bank center, PIC microcontroller, MPLAB IDE

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Authors: Solomon Ojo

Abstract:

The study set out to investigate the role of perceived leadership style on achievement motivation of selected bank employees. The study was a cross-sectional survey. A total of 585 bank workers took part in the study; 283 (48.4%) were males while 302% (51.6%) were females. Mean age of 31.8 yrs (SD = 7.8 yrs) was reported for the participants for the study. Questionnaires were used for data collection. Data was analyzed using both descriptive and inferential statistic. The t- test for independent measures was used to test all the hypotheses, using the statistical package for social sciences version 21.0. The results in the study revealed that bank employees who perceived their leaders as high on consideration style of leadership reported more job satisfaction than bank employees who perceived their leaders as low on consideration style of leadership [t(583) = 16.43, p<.001]; bank employees who perceived their leaders as high in initiating structure style reported more job satisfaction than bank employees who perceived their leaders as low in initiating structure style [t(583)=12.06, p<.01]. The results showed further the influence of perceived leadership styles on all measures of job satisfaction. First, the result showed that bank employees who perceived their leaders as high on consideration style reported more satisfaction with hours worked each day than bank employees who perceived their leaders as low on consideration style [t(583) = 9.23, p<.01]. Second, the results revealed that bank employees who perceived their leaders as high on consideration style reported more satisfaction with flexibility in scheduling than bank employees who perceived their leaders as low on consideration style [t(583) = 8.80, p<.01]. Third, it was shown that bank employees who perceived their leaders as high on consideration style reported more satisfaction with location of work than bank employees who perceived their leaders as low on consideration style [t(583) = 14.17, p<.01] e.t.c. The results were extensively discussed in relation to relevant body of literature.

Keywords: leadership styles, job satisfaction, bank employees, perceived

Procedia PDF Downloads 191

Authors: Cam-Duc Au, Philippe Krahnhof, Lars Klingenberger

Abstract:

German banks are experiencing harsh times due to rising costs and declining profits. On the one hand, acquisition costs for new customers are increasing because of the rise of innovative FinTechs, which entered the market with one specific goal: disrupting the whole financial services industry by occupying parts of the value chain. On the other hand, the COVID-19 pandemic, as well as an overall low level of interest rates, cause the traditional source of bank income to still drain. Consequently, traditional banks must rethink their strategies or their identity, so to speak, because they go beyond their traditional offering of products and services. Having said that, banks may create new sources of income to stabilize their economic situation and replenish profits. The given paper aims to research the opportunities of establishing an ecosystem model. In doing so, the paper contributes to the current literature debate and provide reference points for traditional banks to start. Firstly, a systematic literature review introduces a selection of research works the author regards as significant. In the following step, quantitative data from an online survey with bank clients are analysed by means of descriptive statistics to show the perspective of Germans with regards to an ecosystem offering. The final research findings indicate that the surveyed retail banking clients express interest in the new offer, whereas non-financial products and services are of lower interest than their financial pendants.

Keywords: banking, ecosystem, disruptive innovation, digital offering, open-banking-strategy, financial services industry

Procedia PDF Downloads 108

Authors: Lee Woong-Kyu

Abstract:

Fierce competition in smartphone market may encourage users to switch brands when buying a new smartphone. However, many smartphone users continue to use the same brand although other branded smartphones are perceived to be more attractive. The purpose of this study is to identify and analyze the effects of brand loyalty toward incumbent smartphone on new smartphone adoption. For this purpose, a research model including two hypotheses, the positive effect on rational judgments and the negative effect on rational judgments, are proposed based on the dual process theory. For the validation of the research model, the data was collected by surveying Korean university students and tested by the group comparison between high and low brand loyalty. The results show that the two hypotheses were statistically supported.

Keywords: brand loyalty, dual process theory, incumbent smartphone, smartphone adoption

Procedia PDF Downloads 263