Brand equity in Caribbean financial services: the moderating role of service providers

2019 ◽  
Vol 38 (3) ◽  
pp. 642-670
Author(s):  
Meena Rambocas ◽  
Surendra Arjoon
Keyword(s):  
Customer Satisfaction ◽  
Brand Equity ◽  
Financial Services ◽  
Service Providers ◽  
Credit Unions ◽  
Financial Service ◽  
Insurance Companies ◽  
Equation Modeling ◽  
Service Experience ◽  
Content Type

Purpose The purpose of this paper is to develop an integrated model to represent how service experience (core, employee and service scale), customer satisfaction (transaction-specific and cumulative) and brand affinity influence brand equity in financial services, taking into account the moderating influence of financial service providers. Design/methodology/approach Data were collected from 751 customers in three types of financial service providers (banks, insurance companies and credit unions), and analyzed with structural equation modeling and multi-group analysis. Findings The findings confirm the significant and positive influence of service experience, customer satisfaction and brand affinity on brand equity. Employee service experience has the strongest influence, but its impact is mediated by customer satisfaction. Brand affinity has the lowest influence on brand equity. The type of financial service provider moderates the influence of customer satisfaction on brand equity; transactional satisfaction is more important for credit unions and insurance companies, but cumulative satisfaction is higher for banks. Practical implications The study is significant for three reasons. First, it reconciles branding strategies across different types of financial service providers. Second, it will help financial managers to develop and implement a more integrated approach toward building brand equity for financial service brands. Finally, it will identify specific service-related areas financial providers can target to increase customers’ preferential value. Originality/value The paper addresses previous concerns within brand equity studies by examining the drivers of brand equity formation in multiple financial institutions. It shows how different aspects of service experience and customer satisfaction affect brand affinity and preferential attitudes toward financial brands.

Comparing the service experience of satisfied and non-satisfied customers in the context of wine tasting rooms using the SERVQUAL model

2019 ◽  
Vol 32 (2) ◽  
pp. 301-324
Author(s):  
Matti Haverila ◽  
Kai Haverila ◽  
Mehak Arora
Keyword(s):  
Structural Equation Modeling ◽  
Customer Satisfaction ◽  
Structural Equation ◽  
Design Methodology ◽  
Equation Modeling ◽  
Value For Money ◽  
Service Experience ◽  
Content Type ◽  
Survey Results ◽  
Repurchase Intent

Purpose The purpose of this study is to compare satisfied and non-satisfied customers in the context of wine tasting rooms using the SERVQUAL model and to examine the relationships in the model in terms of service experience to better understand customer needs. Design/methodology/approach The data used in this study were derived from a survey conducted among wineries in British Columbia, Canada. Analysis of survey results using the partial least squares structural equation modeling was undertaken. Sample size was 402. Findings The findings show that the SERVQUAL constructs that had the most impact on customer satisfaction and dissatisfaction were tangibility and assurance. Somewhat surprisingly, the perceived value for money construct was not significantly related to customer satisfaction but was significantly related to repurchase intent. Furthermore, all SERVQUAL constructs, except the reliability construct, were significantly related to customer satisfaction. Originality/value This study provides an overview of how wineries can improve their services to increase the number of satisfied customers.

Examining the relative influence of multidimensional customer service relationships in the food delivery application context

2021 ◽  
Vol 33 (3) ◽  
pp. 912-928
Author(s):  
Jiseon Ahn ◽  
Jookyung Kwon
Keyword(s):  
Social Exchange ◽  
Brand Equity ◽  
Service Providers ◽  
Food Delivery ◽  
Equation Modeling ◽  
Economic Exchange ◽  
Content Type ◽  
Loyalty Intention ◽  
Self Interest ◽  
The Impact

Purpose From the perspective of relationship theory, customers tend to build a positive attitude toward a company with a strong connection. While previous tourism and hospitality studies acknowledged the strategic importance of a strong relationship between customers and brands in enhancing company performance probability, the potential benefits derived from mobile commerce experience deserves further investigation. Thus, this study aims to examine how multidimensional relationships between customers and service providers affect brand performance. Design/methodology/approach Using a sample of food delivery application customers in the USA, the structural equation modeling (SEM)-partial least squares (PLS) path modeling is used to examine the impact of economic exchange, social exchange, mutual-interest and self-interest, on brand equity and loyalty intention. Findings The PLS-SEM results indicate that customers’ perceived economic exchange, social exchange and mutual interests with food delivery applications influence their perceived equity, which, in turn, enhances their loyalty intention toward brand applications. However, self-interest does not enhance customers’ perceived brand equity. Practical implications Accordingly, food delivery service providers must value their relationship with customers to achieve sustainable organizational growth and develop appropriate promotion activities to enhance economic exchange, social exchange and mutual interests. Originality/value The current study contributes to the literature by empirically demonstrating the consequences of customer-brand relationships in the emerging service context (i.e. food delivery applications).

Service innovation, service delivery and customer satisfaction and loyalty in the banking sector of Ghana

2019 ◽  
Vol 37 (5) ◽  
pp. 1215-1233 ◽  
Author(s):  
Kong YuSheng ◽  
Masud Ibrahim
Keyword(s):  
Customer Satisfaction ◽  
Service Delivery ◽  
Financial Services ◽  
Structural Equation ◽  
Banking Sector ◽  
Innovation Management ◽  
Service Innovation ◽  
Initial Study ◽  
Equation Modeling ◽  
Content Type

Purpose The concept of innovation is gaining ground steadily in the context of an increasingly competitive and highly volatile banking sector. The purpose of this paper is to find out the role of service innovation (SI) in the relationship between service delivery (SERVD), customer satisfaction (CSAT) and loyalty in the banking sector of Ghana. Design/methodology/approach Drawing from banking and marketing literature, a conceptual framework was developed and tested using data from 450 sampled customers of commercial banks in Ghana. The data were analyzed using partial least squares structural equation modeling. Findings The findings indicate that SI has direct influence on SERVD and CSAT. Again the findings revealed a positive relationship between SERVD, CSAT and bank customer loyalty. Research limitations/implications This study offers theoretical support for the adoption of innovative techniques in service provision and delivery. Originality/value This paper provides an initial study into innovation management in financial services context in an emerging economy.

The role of prosocial and proactive personality in customer citizenship behaviors

2019 ◽  
Vol 36 (2) ◽  
pp. 288-305 ◽  
Author(s):  
Laee Choi ◽  
Jiyoung Hwang
Keyword(s):  
Customer Satisfaction ◽  
Service Providers ◽  
Positive Impact ◽  
Two Dimensions ◽  
Proactive Personality ◽  
Equation Modeling ◽  
Citizenship Behaviors ◽  
Content Type ◽  
Intention To Continue ◽  
The Relationship

Purpose This study aims to explore customer personality-related antecedents of customer citizenship behaviors (CCBs) that benefit service providers. It also investigates two-step consequences of CCBs: customer satisfaction and intention to continue the relationship. Design/methodology/approach US consumers (n = 665) participated in online surveys regarding three types of service businesses with different levels of customization and customer contact. Data were analyzed using structural equation modeling. Findings Results show a significant, positive impact of the two dimensions of prosocial personality (i.e. other-oriented empathy and helpfulness) and proactive personality on CCBs. Additionally, CCBs increase customer satisfaction and, in turn, intention to continue the relationship. Research limitations/implications This study suggests the importance of customer prosocial and proactive personality as antecedents of CCBs. Beyond intention to participate in CCBs, the present study shows that customers perceived satisfaction from CCBs, resulting in intention to continue the relationship with their service provider. Further research should investigate other types of customer personalities such as conscientiousness and agreeableness. Practical implications Service providers should understand customer personalities that lead to voluntary behaviors that benefit their organizations. This understanding allows the service providers to better communicate with their customers and to receive more assists from customers. Originality/value Previous research has shown that customers’ attitudinal perceptions impact CCBs. In contrast, this study highlights the strong and positive impact of customer personalities, prosocial and proactive personality, on CCBs. Another significant contribution of this study is that it incorporates the potential consequences of CCBs.

Healthcare branding: developing emotionally based consumer brand relationships

2014 ◽  
Vol 28 (2) ◽  
pp. 126-137 ◽  
Author(s):  
Elyria Kemp ◽  
Ravi Jillapalli ◽  
Enrique Becerra
Keyword(s):  
Health Care ◽  
Affective Commitment ◽  
Health Care Organizations ◽  
Service Providers ◽  
Equation Modeling ◽  
Brand Relationships ◽  
Service Experience ◽  
Content Type ◽  
Health Care Context ◽  
Branding Strategies

Purpose – Brands can imbue unique meaning to consumers, and such meaning and personal experience with a brand can create an emotional connection and relationship between the consumer and the brand. Just as many service providers have adopted branding strategies, marketers are branding the health care service experience. Health care is an intimate service experience and emotions play an integral role in health care decision making. The purpose of this paper is to examine how emotional or affect-based consumer brand relationships are developed for health care organizations. Design/methodology/approach – Empirical evidence from both depth interviews and data garnered from 322 surveys were integrated into a conceptual model. The model was tested using structural equation modeling. Findings – Results indicate that trust, referent influence and corporate social responsibility are key variables in establishing affective commitment in consumer brand relationships in a health care context. Once affective commitment is achieved, consumers may come to identify with the health care provider's brand and a self-brand connection is formed. When such a phenomenon takes place, consumers can serve as advocates for the brand by actively promoting it via word-of-mouth. Practical implications – The findings provide insight for marketing managers in developing successful branding strategies for health care organizations. Originality/value – This research examines the advantages of cultivating meaningful brand connections and relationships with consumers in a health care context.

scholarly journals User-generated content behaviour of the dissatisfied service customer

2014 ◽  
Vol 48 (9/10) ◽  
pp. 1600-1625 ◽  
Author(s):  
Caterina Presi ◽  
Charalampos Saridakis ◽  
Susanna Hartmans
Keyword(s):  
Structural Equation ◽  
Online Survey ◽  
Service Providers ◽  
Service Recovery ◽  
Negative Attitude ◽  
User Generated Content ◽  
Equation Modeling ◽  
Service Experience ◽  
Content Type ◽  
Recovery Strategies

Purpose – This study aims to focus on the motivation of service customers to create user-generated content (UGC) after a negative service experience. In examining this relationship, the moderating role of “extraversion” personality trait is also taken into consideration. Furthermore, the paper examines how differently motivated service customers react to a firm’s service recovery strategies, whilst insights into the relationship between UGC creation and specific online platform usage are also provided. Design/methodology/approach – Structural Equation Modeling is used to test the conceptual model, based on an empirical dataset collected from an online survey research of 239 service customers. The dataset pertains to international travellers and their UGC behaviour after a negative travel experience. Findings – Altruistic, vengeance and economic motivations are strong drivers for UGC creation after a negative service experience. Motivations also correlate to participation in specific online platforms. Furthermore, it is shown that highly extraverted customers create more UGC after a negative service experience when motivated by vengeance. Finally, higher levels of altruistic and self-enhancement motivations correlate with a positive attitude towards a firm’s response, whereas customers who are motivated by vengeance have a negative attitude towards a firm’s response. Practical implications – Customers who share their negative service experience by creating UGC in social media can be segmented according to their motivation. Service providers should inspect the UGC of their customers to understand the motivation behind it. The motivation to create UGC varies across platforms, and hence, customized service recovery strategies are required. Originality/value – This paper examines UGC creation in relation to motivation, extraversion, and attitude towards a firm’s response. This is the first reported application which collectively examines important issues like these in a unified theoretical framework.

Financial self-efficacy: a determinant of financial inclusion

2017 ◽  
Vol 35 (3) ◽  
pp. 338-353 ◽  
Author(s):  
Rachel Mindra ◽  
Musa Moya ◽  
Linda Tia Zuze ◽  
Odongo Kodongo
Keyword(s):  
Financial Services ◽  
Self Efficacy ◽  
Structural Equation ◽  
Structural Equation Models ◽  
Service Providers ◽  
Financial Service ◽  
Financial Inclusion ◽  
Financial Behavior ◽  
Cross Sectional ◽  
Content Type

Purpose The purpose of this paper is to examine the relationship between financial self-efficacy (FSE) and financial inclusion (FI) among individual financial consumers in Uganda. Design/methodology/approach Using a quantitative approach and cross-sectional research design, a sample of 400 individuals from urban Central and rural Northern Uganda was drawn. SPSS and AMOS™ 21, regression analysis and structural equation models were used to establish the hypothesized relationship between FSE and FI. Findings The results suggest a strong positive and significant relationship between FSE and FI. The results further suggest that other variables which were controlled for, such as age and gender, had significant influence on an individual’s usage of formal financial services. Research limitations/implications The study was assessed using both potential and actual consumers of financial services collectively. However, if separately assessed, possibly there would be a variation in behavioral responses toward FI. Practical implications Formal financial service providers need to enhance individuals’ levels of confidence in management of finances and utilization of formal financial products and services, so that the financial consumers can realize the changes in financial behavior and consequently FI. Social implications The enhancement of individuals’ level of confidence in evaluating the available financial service options will guide them to take financial decisions that will improve their livelihood. Originality/value The results contribute toward the limited empirical and theoretical evidence for FSE and FI from a behavioral demand-side perspective.

SEC charges private fund administrator with gatekeeping failures

2017 ◽  
Vol 18 (1) ◽  
pp. 65-67
Author(s):  
Keith Miller ◽  
Martin E. Lybecker ◽  
Jesse Kanach ◽  
Mary C. Moynihan ◽  
Hillary B. Levun
Keyword(s):  
Financial Services ◽  
Design Methodology ◽  
Service Providers ◽  
White Collar ◽  
Financial Service ◽  
Securities And Exchange Commission ◽  
Content Type ◽  
Services Sector ◽  
Financial Services Sector ◽  
Enforcement Activity

Purpose To explain a set of recent US Securities and Exchange Commission (SEC) administrative settlements targeting fund administrators and to alert fund administrators and other financial service providers to their growing “gatekeeper” obligations. Design/methodology/approach This article explores the factual and legal contours of SEC administrative settlements with a fund administrator, as well as related enforcement actions against investment managers, to better understand the affirmative steps the SEC is expecting financial service providers to take to help root out fraud and misappropriation in the financial services sector. Findings The SEC’s administrative settlements with this fund administrator illustrate the SEC’s expanding focus on the “gatekeeper” function and signal the intent of the SEC to impute culpability for wrongdoing to fund administrators and other financial service providers simply for not doing enough to root out fraud and misappropriation in the financial services sector. Originality/value This article contains valuable information about recent SEC enforcement activity and practical guidance from experienced white collar, securities, and investment management lawyers.

E-service quality: a study of online shoppers in India

2014 ◽  
Vol 29 (2) ◽  
pp. 178-188 ◽  
Author(s):  
Suresh Kandulapati ◽  
Raja Shekhar Bellamkonda
Keyword(s):  
Customer Satisfaction ◽  
Service Quality ◽  
Online Survey ◽  
Service Providers ◽  
Equation Modeling ◽  
Content Type ◽  
Service Value ◽  
Online Shoppers ◽  
Online Shops ◽  
The Relationship

Purpose – The purpose of this paper is to measure the service quality of online shops using E-S-QUAL and validating the tool in an Indian context. Also, the study examines the mediating role of service value on the relationship between service quality and customer satisfaction in the context of online services. Design/methodology/approach – An online survey is conducted by administering a structured questionnaire to online shoppers in India. The dimensions of E-S-QUAL (Parasuraman et al., 2005) are adopted without revision to measure electronic service quality (e-SQ) of online shops. Structural equation modeling, reliability tests, analysis of variance (one-way), correlation and regression analysis are performed through SPSS and AMOS. Findings – The study reveals that E-S-QUAL as developed by Parasuraman et al. (2005) is valid for measuring e-SQ in the context of Indian online shopping. The study proves that there is a significant impact of perceived e-SQ on perceived service value. Further, perceived service value mediates the relationship between e-SQ and customer satisfaction. Originality/value – The study helps the online service providers/e-commerce industry to understand e-shoppers’ perception and e-SQ in India. Also, it can contribute to formulating the best e-marketing strategies by which to tap into the e-shopping market in India.

Building customer loyalty in retail banking: a serial-mediation approach

2019 ◽  
Vol 38 (2) ◽  
pp. 456-484 ◽  
Author(s):  
Pallavi R. Kamath ◽  
Yogesh P. Pai ◽  
Nandan K.P. Prabhu
Keyword(s):  
Customer Satisfaction ◽  
Brand Equity ◽  
Customer Loyalty ◽  
Family Income ◽  
Customer Experience ◽  
Retail Banking ◽  
Equation Modeling ◽  
Content Type ◽  
The Relationship

Purpose The purpose of this paper is to advance research on the relationship between customer experience and customer loyalty by exploring the serially mediating roles of brand equity and customer satisfaction and the moderating roles of age, gender, education and family income in the retail banking industry. Design/methodology/approach A total of 500 responses of retail banking customers were used to test the model using the partial least squares structural equation modeling approach. Advanced statistical techniques, such as importance-performance map analysis and a joint application of FIMIX-PLS and PLS-POS, were used to gain new insights. Findings The study highlighted that the relationship between customer experience and loyalty is serially mediated by brand equity and customer satisfaction. Age, gender and education were found to be significant moderators in the customer experience–loyalty relationship. Age and gender were found to be significant moderators in the brand equity–loyalty relationship. Practical implications The study strongly suggests that practitioners not only focus on delivering exceptional customer experiences but also on providing leverage brand equity and satisfaction to build customer loyalty. Practitioners should focus on training their front-line employees to improve the quality of their behavior and relations with customers and thereby build customer loyalty. Originality/value To the authors’ knowledge, this is the first study to explore the mediating role of several variables sequentially and the moderating role of customer demographics in the customer experience–customer loyalty relationship.

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