Business Studies

Business Studies

Achieving customer loyalty through effective management of corporate image: an empirical framework for the banking industry

Pages: 12  ,  Volume: 8  ,  Issue: 1 , July   2018
Received: 23 Jul 2018  ,  Published: 23 July 2018
Views: 63  ,  Download: 64

Authors

# Author Name
1 Stephen Francis and Ehijiele Ekienabor

Abstract

Traditional banking services no longer position a bank considerably in a competitive space. Hence intangible attributes such as the corporate image that is intrinsic and cannot be copied become an infallible option. The purpose of this study was to explore how corporate image can be effectively managed to achieve loyalty. The research was carried out through a qualitative methodology and findings were arrived at from subjective facts provided by 7 participants in a multiple case study strategy. The findings of the study reveled that major factors that encourage loyalty were fair transaction fees, efficiency, trust, friendliness, respect, convenience, customer relationship, time-saving, security, and online banking services. The findings also established that achieving total loyalty would be relatively possible by constantly innovating and improving services thereby de-motivating customers to switch or split their loyalty thereby keeping customers sufficiently satisfied through the provision of key services that solves their eminent pain point.

Keywords

  • customer loyalty; effective management; corporate image; banking industry; customers
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