• Asia Marketing Journal
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• v.12 no.3
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• pp.43-62
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• 2010

The notion of customer orientation is now importantly considered in the context of banking industries. Despite customer-oriented organizational cultures, there are few studies addressing the relationship between customer orientation and its outcomes. In particular, this study aims at testing the effect of customer orientation as a key marketing effort designed by a bank. This is because interest rate sensitivity is critical for evaluating banking services after raising the base rate. In so doing, first, this study investigates the relationships among customer orientation, interest rate sensitivity, and customer loyalty. Second, this paper examines how the moderating effects of both deposit interest and loan interest rates influence the linkages of customer orientation-interest rate sensitivity and customer orientation-customer loyalty. To test the proposed model, research data are collected from 304 subjects who use banking services(e.g., Shin-Han, Kookmin, the First Bank, Hana, and Woori banks). Each construct was measured by published items and the psychometric properties of the three constructs, excluding two constructs of the moderators, were evaluated by employing the method of confirmatory factor analysis via the use of AMOS. The model fit was also evaluated using the CFI, TLI, and RMSEA fit indices that are recommended based on their relative stability and insensitivity to sample size. The findings show that the relationship between customer orientation and customer loyalty is significant, whereas the relationships between customer orientation and interest rate sensitivity and between interest rate sensitivity and customer loyalty are not supported. Although customer orientation is highly evaluated, customers' interest rate sensitivity that results in the comparison of interest rates plays an important role in reducing the effect of customer orientation. As a consequence, interest rate sensitivity does not influence customer loyalty. First of all, one of interesting results in this study is that the moderating effect of loan interest rate is quite different from deposit interest rate. In the case of deposit interest rate, the linkages both customer orientation-interest rate sensitivity and customer orientation-customer loyalty are insignificant. In the case of loan interest rate, however, the two proposed linkages are supported. As our proposed relationships are still in its infancy in the context of banking industry, our study contributes to enhance scholars' knowledge of bank services and provides insights for practitioners when their marketing strategies, particularly both deposit and interest rates, have to be established. Finally, this research also illuminates the need for further research that considers the influence of customer orientation on consumer's decision-making and bank profits. More specifically, the results are encouraging and will lead us to further investigate this key outcome of the banking deposit/interest rates.

• Asia Marketing Journal
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• v.12 no.4
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• pp.137-164
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• 2011

In the past, retailers secured customer loyalty by offering convenient locations, unique assortments of goods, better services than competitors, and good credit policy. All this has changed. Goods assortments among stores have become more alike as national-brand manufacturers place their goods in more and more retail stores. Service differentiation also has eroded. Many department stores have trimmed services, and many discount stores have increased theirs. Customers have become smarter shoppers. They don't pay more for identical brands, especially when service differences have diminished. In the face of increased competition from discount storess and specialty stores, department stores are waging a comeback war. Growth of intertype competition, competition between store-based and non-store-based retailing and growing investment in technology are changing the way consumers shop and retailers sell. Different types of stores-discount stores, catalog showrooms, department stores-all compete for the same consumers by carrying the same type of merchandise. The biggest winners are retailers that have helped shoppers to be economically cautious, simplified their increasingly busy and complicated lives, and provided an emotional connection. The growth of e-retailers has forced traditional brick-and-mortar retailers to respond. Basically brick-and-mortar retailers utilize their natural advantages, such as products that shoppers can actually see, touch, and test, real-life customer service, and no delivery lag time for small-sized purchases. They also provide a shopping experience as a strong differentiator. They are adopting practices as calling each shopper a "guest". The store atmosphere should match the basic motivations of the shopper. If target consumers are more likely to be in a task-oriented and functional mindset, then a simpler, more restrained in-store environment may be better. Consistent with this reasoning, some retailers of experiential products are creating in-store entertainment to attract customers who want fun and excitement. The retail experience must deliver value to turn a one-time visitor into a loyal customer. Retailers need a tool that measures the full range of components that define experience-based value. This study uses an experiential value scale(EVS) developed by Mathwick, Malhotra and Rigdon(2001) which reflects the benefits derived from perceptions of playfulness, aesthetics, customer "return on investment" and service excellence. EVS is useful to predict differences in shopping preferences and patronage behavior of customers. EVS consists of items measuring efficiency, economic value, visual appeal, entertainment value, service excellence, escapism, and intrinsic enjoyment, which are subscales of experiencial value. Efficiency, economic value, service excellence are linked to the utilitarian shopping value. And visual appeal, entertainment value, escapism and intrinsic enjoyment are linked to hedonic shopping value. It has been found that consumers value hedonic experiences activated from escapism and attractiveness of shopping environment as much as the product quality, price, and the convenient location. As a result, many department stores, discount stores, and other retailers are introducing differential marketing strategy based on emotional/hedonic values. Many researches suggest that consumers go shopping not only for buying products but also for various shopping experiences. In other words, they seek the practical, rational value as well as social, recreational values in the shopping process(Babin et al, 1994; Bloch et al, 1994). Retailers may enhance buyer's loyalty to store by providing excellent emotional/hedonic value such as the excitement from shopping, not just the practical value of buying good products efficiently. We investigate the effect of perceived shopping values on the emotional experience and store loyalty based on the EVS(Experiential Value Scales) developed by Holbrook(1994), Mathwick, Malhotra and Rigdon(2001). This study assumes that the relative effect of shopping value dimensions on the responses of shoppers will differ according to types of stores and analyzes the moderating effect of store type(department store VS. discount store) on the causal relationship between shopping value dimensions and store loyalty. Emprical results show that utilitarian values of shopping experience and hedonic value of shipping experience give the positive effect on the emotional response of consumers and store loyalty. We also found the moderating effect of store types. The effect of utilitarian shopping values on the attitude toward discount store is higher than the effect of utilitarian shopping values on the attitude toword department store. And the effect of hedonic shopping value on the emotional response to discount store is higher than on the emotional response to department store. The empirical results reflect on the recent trend that discount stores try to fulfill the hedonic needs of consumers as well as utilitarian needs(i.e, low price) that discount stores traditionally have focused on

• Proceedings of the Technology Innovation Conference
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• 2006.02a
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• pp.131-149
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• 2006

The increasing number of mobile phone users has caused the increasing number of mobile internet subscribers since the 2000s. However, there are little studies on commercial transactions through mobile internet by contraries of abundant studies on the traditional offline and online commerce. This paper aims to find out some factors affecting customer satisfaction in the mobile commerce. For this purpose, influential factors were drawn out by comparing mobile commerce with e-commerce and a more systematic framework was developed. 6 factors were proposed such as mobile internet experience, perceived content Quality, perceived ease of use, perceived price level, perceived system Quality and perceived security level. Initially, they have effects on the customer satisfaction, and then, they have relationships with customer complaint and customer loyalty. In this paper, a Questionnaire survey was conducted. And a general structural equation model was applied to empirically test the proposed research model which is based on the relationships among the 6 factors and customer satisfaction, customer complaint and customer loyalty. This study will be useful to firms providing services of mobile commerce, because it can find out some influential and significant factors of the mobile commerce.

• The Journal of the Korea Contents Association
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• v.15 no.5
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• pp.88-97
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• 2015

Consumers' interest in performance art is increasing with the advent of the 'culture era', and there is a need for marketing strategies for market base expansion and research in order to achieve this. Therefore, the aim of this study was to empirically establish the effect of service quality factors perceived by consumers during musical performances on audiences' relationship quality. Research results showed that the quality of the physical environment and of results, i.e. service quality, affected commitment and satisfaction, and quality of interaction had a significant effect on satisfaction. Moreover, commitment and satisfaction with relationship quality had a significant effect on loyalty. This study confirmed which service quality elements were considered important for audiences' commitment and satisfaction when attending musical performances, and thus suggests opportunities to understand audiences' consumer behavior and better improve their relationship quality.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.7
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• pp.153-171
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• 2022

To measure economic performance, customer satisfaction indices are constructed. This study proposes an index for banking and telecom, a significant evaluative system for comparing and enhancing customer satisfaction across the industries. The study suggests and examines amendments and improvements to the prior indices and incorporates ignored indicators to propose a punier index for Pakistan. The study is a pioneer in integrating online and offline indices into a single comprehensive model. The study is enriched by the Theory of Reasoned Action and Technological Acceptance Model. A sample of 320 respondents was used. The sample was divided based on gender and marital status. To authenticate the theoretical model, PLS-SEM was applied. We discovered nine latent variables that define customer satisfaction and conclude that a single model can be utilized for e-commerce enterprises as well. The index scores are comparable to the American index for banking and the Turkish index for telecom. Multi-group analysis (MGA) was used to comprehend the differences among the groups. This reveals that customization, design, reliability, and responsiveness induce satisfaction in telecom male and married customers. For the banking industry, the difference exists in complaint handling, customization, corporate image, perceived price, reliability, responsiveness, sentiments, convenience, and security to satisfaction links, image and complaint handling to loyalty links.

• The Journal of Asian Finance, Economics and Business
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• v.6 no.1
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• pp.169-175
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• 2019

Service quality has been a point of discussion from the decades as it is important for customer satisfaction, loyalty and retention. Various models have been proposed to measure the quality in the service sector. Models are modified in accordance with context and geography to assess the quality of service better. This study aims to investigate the impact of the modified e-SERVQUAL model on the customer perception about the existing relation and potential scope of doing business with a bank which in-turn will decide the performance of the bank. Statistical data was analyzed through various tests like reliability analysis, correlation and regression analysis using SPSS 25.0. The primary data of e-SQ and performance was gathered from 721 internet banking users using 32 item questionnaire, representing 72% response rates, of four selected Islamic banks of Malaysia. E-SERQUAL was modified by adding Shariah Compliance information about banks and products for Islamic banking customers. The finding specified that efficient & reliable services, fulfillment, security/trust, and Shariah compliance information have a significant association with the performance of Islamic banks. The research is original and its implications will be helpful for Islamic banks across the world to enhance the online experience of customers, which will help them to retain the customers in the rapid changing virtual environment.

• International Journal of Computer Science & Network Security
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• v.23 no.8
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• pp.190-198
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• 2023

To enhance customer satisfaction for higher profits, an e-commerce sector can establish a continuous relationship and acquire new customers. Utilize machine-learning models to analyse their customer's behavioural evidence to produce their competitive advantage to the e-commerce platform by helping to improve overall satisfaction. These models will forecast customers who will churn and churn causes. Forecasts are used to build unique business strategies and services offers. This work is intended to develop a machine-learning model that can accurately forecast retainable customers of the entire e-commerce customer data. Developing predictive models classifying different imbalanced data effectively is a major challenge in collected data and machine learning algorithms. Build a machine learning model for solving class imbalance and forecast customers. The satisfaction accuracy is used for this research as evaluation metrics. This paper aims to enable to evaluate the use of different machine learning models utilized to forecast satisfaction. For this research paper are selected three analytical methods come from various classifications of learning. Classifier Selection, the efficiency of various classifiers like Random Forest, Logistic Regression, SVM, and Gradient Boosting Algorithm. Models have been used for a dataset of 8000 records of e-commerce websites and apps. Results indicate the best accuracy in determining satisfaction class with both gradient-boosting algorithm classifications. The results showed maximum accuracy compared to other algorithms, including Gradient Boosting Algorithm, Support Vector Machine Algorithm, Random Forest Algorithm, and logistic regression Algorithm. The best model developed for this paper to forecast satisfaction customers and accuracy achieve 88 %.

• Journal of Korea Society of Industrial Information Systems
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• v.18 no.5
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• pp.93-105
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• 2013

This paper mainly focuses on comparison analysis of the quality factors targeted at one shopping mall web site in Korea and China. There are a total of 14 hypothesis, and we use the SAS 9.2 statistical package tool. The survey to verify those hypothesis is filled out by 519 voluntary participants. The following describes the results that are found. The shopping mall web site of two countries shows a difference in terms of design, communication, community, commercialization, security, customer satisfaction, repurchase intention, contents, e-commerce, customer loyalty, interaction, technology, reliability, and size. Therefore, we suggest how to implement more effective shopping mall websites based on those 14 factors.