The Creation of Customer Loyalty – A Qualitative Research of the Bank Sector

The objective of this project is to determine which parameters service organizations are employing in order to develop customer satisfaction and customer loyalty. Concepts that we have chosen to consider deal with relationship marketing, service quality, various kinds of loyalty, customer value, customer loyalty, client satisfaction, loyalty programs, customer clubs, monetary benefits and social bonds. From parts of these theories we’ve developed a model that we claim show how businesses in the service sector create happy and loyal customers. To examine our model in reality we carried out a case study with 3 organizations in the bank sector. Following the case study we refined our model so it better demonstrates reality. Our conclusions are that the parameter called social bonds has a considerable importance for the companies we’ve studied. Monetary benefits and loyalty programs are other factors that the organizations use to create satisfied and loyal customers…

Contents: Creation of Customer Loyalty – Banking Sector

1 Introduction
1.1 Background
1.2 Problem Discussion
1.3 Purpose
1.4 Delimitations
1.5 Outline
2 Method
2.1 Research Philosophy
2.2 Research Approach
2.3 Quantitative/ Qualitative Approach
2.4 The Research Process
2.5 Case Studies
2.6 Collection of Data
2.6.1 Secondary Data
2.6.2 Primary Data
2.7 Validity and Reliability
2.7.1 Validity Internal Validity External Validity
2.7.2 Reliability
2.8 Criticism of Methodology
3 Theory
3.1 Introduction
3.2 Relationship Marketing
3.3 Service Quality
3.4 Customer Value
3.5 Customer Satisfaction
3.6 Customer Loyalty
3.7 Different Types of Customer Loyalty
3.8 Loyalty Programs and Customer Clubs
4 Model
4.1 Introduction to our Model
4.2 Loyalty Programs
4.3 Customer Clubs
4.4 Monetary Benefits
4.5 Social Bonds
4.6 Customer Satisfaction
4.7 Customer Loyalty
4.8 Summary of our Model
4.9 Criticism of the model
5 Case Studies
5.1 Case Study – Färs & Frosta Sparbank
5.1.1 Loyalty Programs & Customer Clubs
5.1.2 Monetary Benefits & Social bonds
5.1.3 Opinions of the parameters
5.1.4 Customer Satisfaction
5.1.5 Customer Loyalty
5.2 Case Study – Handelsbanken
5.2.1 Loyalty Programs & Customer Clubs
5.2.2 Social Bonds & Monetary Benefits
5.2.3 Opinions about the parameters
5.2.4 Customer Satisfaction
5.2.5 Customer Loyalty
5.3 Case Study – Skånes Provinsbank
5.3.1 Loyalty Programs & Customer Clubs
5.3.2 Monetary Benefits & Social Bonds
5.3.3 Opinions of the Parameters
5.3.4 Customer Satisfaction
5.3.5 Customer Loyalty
5.4 Summary of Case Studie
6 Analysis
6.1 Loyalty Programs
6.1.1 Summary
6.2 Customer Clubs
6.2.1 Summary
6.3 Monetary Benefits
6.3.1 Summary
6.4 Social bonds
6.4.1 Summary
6.5 Other Parameters
6.6 Customer Satisfaction…

Customer Loyalty in Banking Sector

Source: Kristianstad University

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