Service quality, satisfaction and loyalty of individual customers in Ho Chi Minh City: study at Shinhan bank Vietnam LTD.
Main Article Content
Abstract
This study is conducted to analyze the relationship between service quality, satisfaction and loyalty of individual customers at Shinhan Bank Vietnam Limited in Ho Chi Minh City. Thereby proposing management implications to improve service quality in order to increase the satisfaction and loyalty of individual customers to this bank. Qualitative research was carried out by in-depth interview techniques with managers at the bank in Shihan to adjust the model and scale. Quantitative research was carried out by offline and online survey of 450 individual customers. Techniques and tools are used to test the scale, analyze EFA, CFA, test SEM using SPSS and AMOS software. The results of the SEM structural model analysis show that the factors assurance, responsiveness, reliability, tangibles, and accessibility are really significant in influencing customer satisfaction of individual customers and factors Individual customer satisfaction is significant in influencing the factor of Individual customer loyalty at Shinhan.
Article Details
Keywords
Satisfaction, Retail service quality, Shinhan, Loyalty, Individual customer
References
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Aydin, S. & Ozer, G. (2005), The analysis of antecedents of customer loyalty in the Turkish mobile telecommunication market. European Journal of Marketing, 39(7), 910-925.
Auka, D.O. (2012). Service quality, satisfaction, perceived value and loyalty among customers in commercial banking in Nakuru Municipality, Kenya. African Journal of Marketing Management, 4(5), 185-203. DOI: 10.5897/AJMM12.033
Bloemer J, Ruyter K., & Peeters, P. (1998). Investigating drivers of bank loyalty: the complex relationship between image, service quality and satisfaction. International Journal of Bank Marketing, 16(7), 276-286.
Chaudhuri, A., & Holbrook, M. B. (2001). The chain of effects from brand trust and brand affect to brand performance: The role of brand loyalty. Journal of Marketing, 65(2), 81-93.
Coetzee, J., Van Zyl, H., & Tait, M. (2013). Perceptions of service quality by clients and contact-personnel in the South African retail banking sector. Southern African Business Review, 17(1), 1-22.
Furrer, O., Liu, B.S.Ch., & Sudharshan, D. (2005). The relationship between culture and service quality perceptions. Journal of Service Research 2(4): 355-370.
Famiyeh, S., Darko, D.A., & Kwarteng, A. (2018). Service quality, customer satisfaction, and loyalty in the banking sector: The moderating role of organizational culture. Journal of International Journal of Quality Reliability Management, 35(8), 1546-1567. https://doi.org/10.1108/IJQRM-01-2017-0008
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Hussain, R., Nasser, A.A., & Hussain, Y.K. (2015). Service quality and customer satisfaction of a UAE-based airline: An empirical investigation. Journal of Air Transport Management, 42(1),167-175.
Izogo, E.E., & Ogba, I.I. (2015). Service quality, customer satisfaction and loyalty in automobile repair services sector. International Journal of Quality and Reliability Management, 32 (3), 250-269.
Kanning, R., & Bergmann, D. (2009). The impact of perceived service quality dimensions on customer satisfaction: an empirical study on public sector banks in India. International Journal of Bank Marketing, 35(3). doi: 10.1108/IJBM-04-2016-0051.
Kant, R., & Jaiswal, D. (2017). The Impact of Perceived Service Quality Dimensions on Customer Satisfaction: An Empirical Study on Public Sector Banks in India. International Journal of Bank, 35(3), 411-430. https://doi.org/10.1108/IJBM-04-2016-0051
Kim, H.J. (2011). Service orientation, service quality, customer satisfaction, and customer loyalty: Testing a structural model. Journal of Hospitality Marketing and Management, 20(6), 619-637.
Kim, J., Zhang, T., & Bilgihan, A. (2015). Customer loyalty: A review and future directions with a special focus on the hospitality industry. International Journal of Contemporary Hospitality Management, 27(3), 379-414.
Ladhari, R., Ladhari, I., & Morales, M. (2011). Bank service quality: comparing Canadian and Tunisian customer perceptions. International Journal of Bank Marketing, 29(3), 224-246.
Lee, M., & Cunningham, L.F. (2000). A cost/benefit approach to understanding service loyalty. Journal of Services Marketing, 15(2), 113-130.
Lewis, B. R., & Soureli, M. (2006). The antecedents of consumer loyalty in retail banking. Journal of Consumer Behaviour, 5(1), 15-31.
Lê Văn Huy và Nguyễn Thị Hà My (2007), Xây dựng mô hình lý thuyết và phương pháp đo lường về chỉ số hài lòng ở Việt Nam, Tạp chí Ngân hàng, 12(6), 5-10.
Makanyeza, C. (2015). Consumer awareness, ethnocentrism and loyalty: An integrative model. Journal of International Consumer Marketing, 27(2), 167-183.
Makanyeza, C. Macheyo, R., & Toit, F. (2016). Perceived product necessity, perceived value, customer satisfaction and affective attitude: An integrative model. Journal of African Business, 17 (1), 69-86.
Makanyeza, C., & Chikazhe, L. (2017). Mediators of the Relationship between Service Quality and Customer Loyalty: Evidence from the Banking Sector in Zimbabwe. International Journal of Bank Marketing, 35(3), 540-556. https://doi.org/10.1108/IJBM-11-2016-0164
Paul, J., Mittal, A., & Srivastav, G. (2016). Impact of service quality on customer satisfaction in private and public sector banks. International Journal of Bank Marketing, 34(5), 606-22. https://doi.org/10.1108/IJBM-03-2015-0030
Raposo, M., Alves, H., & Duarte, P. (2009). Dimensions of service quality and satisfaction in healthcare: a patient’s satisfaction index. Service Business 3(1), 85–100.
Parasuraman, A., Zeithaml, V.A. & Berry, L.L. (1985). A conceptual model of service quality and its implications for future research. Journal of Marketing, 49(4), 41-50.
Parasuraman, A., Zeithaml, V.A., & Berry, L.L. (1991). Perceived Service Quality as a Customer-Based Performance Measure: An Empirical Examination of Organizational Barriers Using an Extended Service Examination of Organizational Barriers Using an Extended Service Quality Model. Human Resource Management, 30(3), 335-364.
Parasuraman, A., Zeithaml, V.A., & Berry, L.L. (1988). SERVQUAL: a multi-item scale for measuring consumer perceptions of service quality. Journal of Retailing, 64(1), 12-40.
Parasuraman, A., Zeithaml, V. A., Berry, L. L. (1994), A conceptual model of service quality and its implications for future research, Journal of Marketing, 49(3), 41–50.
Parasuraman, A., Zeithaml, V. A., & Berry, L. L. (1993). Research Note: More on Improving Service Quality Measurement. Journal of Retailing, 69(1), 140-147. https://doi.org/10.1016/S0022-4359(05)80007-7
Rajeswari, K., & Naser, K. (2011). Customer satisfaction and retail banking: an assessment of some of the key antecedents of customer satisfaction in retail banking. International Journal of Bank Marketing, 20(4), 146-160.
Reichheld, F., & Sasser, W.E.JR.(1990). Zero Defections: Quality Comes to Services. Harvard Business Review, 68(5),105–111.
Saleem, Z., Rashid, K. (2011). Relationship between customer satisfaction and mobile banking adoption in Pakistan. International Journal of Trade, Economics and Finance, 2(6), 537-544.
Santouridis, I., & Trivellas, P. (2010). Investigating the impact of service quality and customer satisfaction on customer loyalty in mobile telephony in Greece. The TQM Journal, 22(3), 330-343.
Tarus, D.K., & Rabach, N. (2013). Determinants of customer loyalty in Kenya: Does corporate image play a moderating role? The TQM Journal, 25(5), 473-491.
Vesel, P., & Zabkar, V. (2009). Managing customer loyalty through the mediating role of satisfaction in the DIY retail loyalty program. Journal of Retailing and Consumer Services, 16(5), 396-406.
Wu, YC., Tsai, C.S., Hsiung, H.W., & Chen, K.Y. (2015). Linkage between frontline employee service competence scale and customer perceptions of service quality. Journal of Services Marketing, 29(3), 224-234.
Yılmaz, V., Celik, E.H., & Ekiz, H.E. (2006). Investigation of the Factors Affecting Loyalty to Organization through The Structural Equation Modeling: Example from Private and Public Banks. Anadolu Universitesi Sosyal Bilimler Dergisi, 6(2), 171-184.
Yu, Y., & Dean, A. (2001). The contribution of emotional satisfaction to consumer loyalty. International Journal of Service Industry Management, 12(3), 234-250.
Akhtar, M.N., Hunjra, A.I., Akbar, S.W., Rehman, K.U, & Niazi, C.S.K. (2011). Relationship between customer satisfaction and service quality of Islamic banks. World Applied Sciences Journal, 13(3), 453-459.
Arasli, H., Katircioğlu, S.T. & Mehtap-Smadi, S. (2005). A comparison of service quality in the banking industry: Some evidence from Turkish-Greek –speaking areas in Cyprus. International Journal of Bank Marketing, 23(7), 508-526.
Aydin, S. & Ozer, G. (2005), The analysis of antecedents of customer loyalty in the Turkish mobile telecommunication market. European Journal of Marketing, 39(7), 910-925.
Auka, D.O. (2012). Service quality, satisfaction, perceived value and loyalty among customers in commercial banking in Nakuru Municipality, Kenya. African Journal of Marketing Management, 4(5), 185-203. DOI: 10.5897/AJMM12.033
Bloemer J, Ruyter K., & Peeters, P. (1998). Investigating drivers of bank loyalty: the complex relationship between image, service quality and satisfaction. International Journal of Bank Marketing, 16(7), 276-286.
Chaudhuri, A., & Holbrook, M. B. (2001). The chain of effects from brand trust and brand affect to brand performance: The role of brand loyalty. Journal of Marketing, 65(2), 81-93.
Coetzee, J., Van Zyl, H., & Tait, M. (2013). Perceptions of service quality by clients and contact-personnel in the South African retail banking sector. Southern African Business Review, 17(1), 1-22.
Furrer, O., Liu, B.S.Ch., & Sudharshan, D. (2005). The relationship between culture and service quality perceptions. Journal of Service Research 2(4): 355-370.
Famiyeh, S., Darko, D.A., & Kwarteng, A. (2018). Service quality, customer satisfaction, and loyalty in the banking sector: The moderating role of organizational culture. Journal of International Journal of Quality Reliability Management, 35(8), 1546-1567. https://doi.org/10.1108/IJQRM-01-2017-0008
Hoq, H.Z., & Amin, M. (2010). The role of customer satisfaction to enhance customer loyalty. African Journal of Business Management, 4(12), 2385-2392.
Hussain, R., Nasser, A.A., & Hussain, Y.K. (2015). Service quality and customer satisfaction of a UAE-based airline: An empirical investigation. Journal of Air Transport Management, 42(1),167-175.
Izogo, E.E., & Ogba, I.I. (2015). Service quality, customer satisfaction and loyalty in automobile repair services sector. International Journal of Quality and Reliability Management, 32 (3), 250-269.
Kanning, R., & Bergmann, D. (2009). The impact of perceived service quality dimensions on customer satisfaction: an empirical study on public sector banks in India. International Journal of Bank Marketing, 35(3). doi: 10.1108/IJBM-04-2016-0051.
Kant, R., & Jaiswal, D. (2017). The Impact of Perceived Service Quality Dimensions on Customer Satisfaction: An Empirical Study on Public Sector Banks in India. International Journal of Bank, 35(3), 411-430. https://doi.org/10.1108/IJBM-04-2016-0051
Kim, H.J. (2011). Service orientation, service quality, customer satisfaction, and customer loyalty: Testing a structural model. Journal of Hospitality Marketing and Management, 20(6), 619-637.
Kim, J., Zhang, T., & Bilgihan, A. (2015). Customer loyalty: A review and future directions with a special focus on the hospitality industry. International Journal of Contemporary Hospitality Management, 27(3), 379-414.
Ladhari, R., Ladhari, I., & Morales, M. (2011). Bank service quality: comparing Canadian and Tunisian customer perceptions. International Journal of Bank Marketing, 29(3), 224-246.
Lee, M., & Cunningham, L.F. (2000). A cost/benefit approach to understanding service loyalty. Journal of Services Marketing, 15(2), 113-130.
Lewis, B. R., & Soureli, M. (2006). The antecedents of consumer loyalty in retail banking. Journal of Consumer Behaviour, 5(1), 15-31.
Lê Văn Huy và Nguyễn Thị Hà My (2007), Xây dựng mô hình lý thuyết và phương pháp đo lường về chỉ số hài lòng ở Việt Nam, Tạp chí Ngân hàng, 12(6), 5-10.
Makanyeza, C. (2015). Consumer awareness, ethnocentrism and loyalty: An integrative model. Journal of International Consumer Marketing, 27(2), 167-183.
Makanyeza, C. Macheyo, R., & Toit, F. (2016). Perceived product necessity, perceived value, customer satisfaction and affective attitude: An integrative model. Journal of African Business, 17 (1), 69-86.
Makanyeza, C., & Chikazhe, L. (2017). Mediators of the Relationship between Service Quality and Customer Loyalty: Evidence from the Banking Sector in Zimbabwe. International Journal of Bank Marketing, 35(3), 540-556. https://doi.org/10.1108/IJBM-11-2016-0164
Paul, J., Mittal, A., & Srivastav, G. (2016). Impact of service quality on customer satisfaction in private and public sector banks. International Journal of Bank Marketing, 34(5), 606-22. https://doi.org/10.1108/IJBM-03-2015-0030
Raposo, M., Alves, H., & Duarte, P. (2009). Dimensions of service quality and satisfaction in healthcare: a patient’s satisfaction index. Service Business 3(1), 85–100.
Parasuraman, A., Zeithaml, V.A. & Berry, L.L. (1985). A conceptual model of service quality and its implications for future research. Journal of Marketing, 49(4), 41-50.
Parasuraman, A., Zeithaml, V.A., & Berry, L.L. (1991). Perceived Service Quality as a Customer-Based Performance Measure: An Empirical Examination of Organizational Barriers Using an Extended Service Examination of Organizational Barriers Using an Extended Service Quality Model. Human Resource Management, 30(3), 335-364.
Parasuraman, A., Zeithaml, V.A., & Berry, L.L. (1988). SERVQUAL: a multi-item scale for measuring consumer perceptions of service quality. Journal of Retailing, 64(1), 12-40.
Parasuraman, A., Zeithaml, V. A., Berry, L. L. (1994), A conceptual model of service quality and its implications for future research, Journal of Marketing, 49(3), 41–50.
Parasuraman, A., Zeithaml, V. A., & Berry, L. L. (1993). Research Note: More on Improving Service Quality Measurement. Journal of Retailing, 69(1), 140-147. https://doi.org/10.1016/S0022-4359(05)80007-7
Rajeswari, K., & Naser, K. (2011). Customer satisfaction and retail banking: an assessment of some of the key antecedents of customer satisfaction in retail banking. International Journal of Bank Marketing, 20(4), 146-160.
Reichheld, F., & Sasser, W.E.JR.(1990). Zero Defections: Quality Comes to Services. Harvard Business Review, 68(5),105–111.
Saleem, Z., Rashid, K. (2011). Relationship between customer satisfaction and mobile banking adoption in Pakistan. International Journal of Trade, Economics and Finance, 2(6), 537-544.
Santouridis, I., & Trivellas, P. (2010). Investigating the impact of service quality and customer satisfaction on customer loyalty in mobile telephony in Greece. The TQM Journal, 22(3), 330-343.
Tarus, D.K., & Rabach, N. (2013). Determinants of customer loyalty in Kenya: Does corporate image play a moderating role? The TQM Journal, 25(5), 473-491.
Vesel, P., & Zabkar, V. (2009). Managing customer loyalty through the mediating role of satisfaction in the DIY retail loyalty program. Journal of Retailing and Consumer Services, 16(5), 396-406.
Wu, YC., Tsai, C.S., Hsiung, H.W., & Chen, K.Y. (2015). Linkage between frontline employee service competence scale and customer perceptions of service quality. Journal of Services Marketing, 29(3), 224-234.
Yılmaz, V., Celik, E.H., & Ekiz, H.E. (2006). Investigation of the Factors Affecting Loyalty to Organization through The Structural Equation Modeling: Example from Private and Public Banks. Anadolu Universitesi Sosyal Bilimler Dergisi, 6(2), 171-184.
Yu, Y., & Dean, A. (2001). The contribution of emotional satisfaction to consumer loyalty. International Journal of Service Industry Management, 12(3), 234-250.
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