Academia de Studii Economice Bucuresti

Amfiteatru Economic
AN ECONOMIC AND BUSINESS RESEARCH PERIODICAL
Facultatea de Business si Turism

Customer Loyalty and its Determinants in a Banking Services Environment

Author:Alina Filip, Laurenţiu-Dan Anghel

JEL:M31

DOI:

Keywords:research, banking services, customer behaviour, customer loyalty, relationship marketing.

Abstract:
The present paper presents the methodology and the main results of a quantitative study applied on a sample of 1010 respondents, in the Romanian banking industry. The aim of the study was to research the customer level of loyalty toward Romanian organizations acting in the retail banking sector. According to similar researches in the field, loyalty is a complex construction, which comprises both psychological and behavioural components, fact also proved by the results of the present research. As the survey results show, Romanian customers remain in relationships with banks due to the existence of both favourable attitudes or positive motivations (representing 46,36% of the total retention motivations) and constraint factors or inertia (representing 52,44% of the total retention motivations). At the same time, the results prove that the level of loyalty stated by customers is supported not only by the level of satisfaction, but also by factors like: bank’s attitude towards its own customers, the level of customer trust toward the organization or its employees in ensuring the financial interests of clients, and also by the level of customer commitment. Customer switching behaviour is determined in 58% of cases by the high level of dissatisfaction toward the banks’ policy of price.
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