Value, satisfaction, loyalty and retention in professional services

Published on Jul 31, 2009in Marketing Intelligence & Planning3.491
· DOI :10.1108/02634500910977854
Rene Trasorras1
Estimated H-index: 1
,
Art Weinstein16
Estimated H-index: 16
(NSU: Nova Southeastern University),
Russell Abratt44
Estimated H-index: 44
(NSU: Nova Southeastern University)
Sources
Abstract
Purpose – The purpose of this paper is to assess customers' perceived value of professional services and how this influences satisfaction, loyalty and ultimately retention.Design/methodology/approach – A survey is conducted among professional service providers in the Tampa Bay, Florida (USA) Metropolitan Statistical Area, which includes attorneys, financial professionals, physicians, dentists and private investigators.Findings – There is a highly significant relationship between service and customer retention, quality and customer retention, image and customer retention, price and customer retention, and value and customer retention. There is a significant relationship between value and satisfaction on customer retention; between value and loyalty's effect on customer retention; and among value, satisfaction and loyalty on customer retention.Research limitations/implications – Statistically, the findings cannot be generalized beyond the scope of this study and the Tampa area. However, this can be tested i...
📖 Papers frequently viewed together
References44
Newest
#1J. Brock Smith (UVic: University of Victoria)H-Index: 12
#2Mark Colgate (UVic: University of Victoria)H-Index: 19
Creation of value for customers is a critical task for marketers, particularly when developing new products and services or starting new businesses. This paper presents a new conceptual framework for marketers to ponder when exploring ways to distinguish themselves, in the eyes of the customer, from others in the marketplace. This framework is built on the strengths of existing frameworks. Possible applications of the framework in designing marketing strategy, recognizing new product opportuniti...
Source
#1Juan Carlos Fandos Roig (James I University)H-Index: 3
#2Javier Sánchez García (James I University)H-Index: 9
Last. Jaume Llorens Monzonís (James I University)H-Index: 2
view all 4 authors...
Purpose – The purpose of this research is to analyse the dimensionality of the concept of perceived value in the banking sector, adapting the GLOVAL scale of measurement of perceived value to the banking services sector.Design/methodology/approach – A total of 200 customers of financial entities were surveyed, and structural equations models were used to verify the reliability and validity of the scale of perceived value.Findings – Perceived value is found to be a multidimensional construct comp...
Source
#1Phillip E. Pfeifer (UVA: University of Virginia)H-Index: 25
#2Mark E. HaskinsH-Index: 12
Schultz addressed the importance of good definitions in an editorial calling on marketing academics and practitioners to define direct marketing. If we don't [establish precise definitions], I fear we will find that what you are talking about when you say direct marketing may have absolutely no relationship to what I consider direct marketing. And, for an academic discipline, that is the worst of all possible worlds (1995: 9). Whereas the confusion in 1995 was over the meaning of direct marketin...
#1Shun Yin Lam (NTU: Nanyang Technological University)H-Index: 12
#2Venkatesh Shankar (UMD: University of Maryland, College Park)H-Index: 57
Last. Bvsan Murthy (NTU: Nanyang Technological University)H-Index: 1
view all 4 authors...
Although researchers and managers pay increasing attention to customer value, satisfaction, loyalty, and switching costs, not much is known about their interrelationships. Prior research has examined the relationships within subsets of these constructs, mainly in the business-to-consumer (B2C) environment. The authors extend prior research by developing a conceptual framework linking all of these constructs in a business-to-business (B2B) service setting. On the basis of the cognition-affect-beh...
Source
#1Azaddin Salem Khalifa (UOS: University of Sharjah)H-Index: 7
The concept of customer value is becoming increasingly used in strategy and marketing literature in recent years. Customer value is considered central to competitive advantage and long‐term success of business organizations. Consequently, a great importance attached to this concept. This paper attempts to build an integrative configuration of the concept of customer value that reflects its richness and complexity. It reviews, synthesizes and extends the literature on the subject. The configurati...
Source
#1Ingrid Fečiková (Technical University of Košice)H-Index: 1
Customer satisfaction (CS) has become an important issue for commercial and public service organisations. Companies win or lose based on what percentage of their customers they can keep. Success is largely about retention of customers, which again depends on CS level. It would be a great help to be able to comprehensively measure the quality of product and service, by relating the measures of quality to real customer behaviour. Some companies get feedback about CS through the percentage of compl...
Source
#1Art WeinsteinH-Index: 16
#2William C. JohnsonH-Index: 14
CUSTOMER VALUE - THE BUILDING BLOCKS Customers Want Top Value The Importance of Customer Value Customer Value: Marketing Management Implications The Value-Creating Organization Summary Customer Value Action Items Being Customer Oriented Customer Commitment: How Market Leaders Do It The Marketing Concept Revisited Selling vs. Market Orientation Marketing Approaches to Achieve a Customer Focus Summary Customer Value Action Items Process and Customer Value Process and Value Assessing Process Effect...
This paper is concerned with examining how contact management influences customer loyalty in the retail banking industry. The concept of contact management is explored and developed with reference to the literature on retention, service quality and loyalty. Customer experiences with contacting their bank and their intentions were obtained by means of an online survey, in which consumers were asked about their points of contact with their banks and their intentions to continue their custom and ma...
Source
#1Chatura Ranaweera (WLU: Wilfrid Laurier University)H-Index: 14
#2Jaideep Prabhu (WLU: Wilfrid Laurier University)H-Index: 25
This study examines the combined effects of customer satisfaction and trust on customer retention and positive word of mouth (WOM). Data from a large-scale survey of fixed line telephone users in the UK confirm that both satisfaction and trust have strong positive associations with customer retention and WOM. Contrary to some assertions in the literature, however, the authors find that the linear effect of satisfaction on retention is much stronger than that of trust. As a driver of WOM, however...
Source
Cited By93
Newest
There is a wide variety of choices for the modern retail customer including multiple retail formats. The success of the retail establishments has a great reliance of customer retention, which is an...
Source
#1Ahmed ShaalanH-Index: 6
#2Riyad EidH-Index: 21
Last. Marwa TourkyH-Index: 6
view all 3 authors...
Source
Source
#2Erica MazzolaH-Index: 10
Last. Manfredi BruccoleriH-Index: 19
view all 3 authors...
Source
#1Regina VirvilaitėH-Index: 7
#2Aistė DovalienėH-Index: 6
Source
Globalization has led the tourism industry to undergo radical changes, with an ideological shift toward embracing the customer-centric approach and discarding the traditional focus on profits. Tourism organizations need to fulfill the demands and expectations of customers by training staff to maintain service excellence. A strategic approach must ensure employees are engaged, recognized, innovative, trustworthy, and loyal, exhibiting innovation and enhanced performance. This conceptual study exp...
Source
#1Olumide Olasimbo Jaiyeoba (Botho College)H-Index: 5
#2Douglas Svotwa (Botho College)H-Index: 4
Last. Mornay Roberts-Lombard (UJ: University of Johannesburg)H-Index: 12
view all 3 authors...
Purpose: This study examines the degree and the extent to which the satisfaction/delight of cellular network customers in Botswana is affected by the service delivery skills of network employees, the value received from offerings of the network and the trust that they have within a service environment. In addition, the effect of customer satisfaction/delight (CSD) on their loyalty is established. Design/methodology/approach: The research design applied was descriptive, and self-administered surv...
Source
#1Marina S. Chvanova (MSU: Moscow State University)H-Index: 2
#2Yury V. Shlenov (MSU: Moscow State University)H-Index: 1
Last. Anatoly A. Molchanov (Tambov State University)
view all 3 authors...
The Internet is forming a new space of socialization, that contributes to a change in professional and value orientations of youth. The article addresses the cause-and-effect relations of changes in professional and value orientations of young people in the context of Internet socialization. The results of Internet users' surveys conducted by the authors over the past two decades are analyzed in the article.
Source
#1Leisa Gill (Austin Peay State University)H-Index: 1
#2Victoria McCarthy (Austin Peay State University)H-Index: 2
Last. David R. Grimmett (Austin Peay State University)H-Index: 2
view all 3 authors...
Client satisfaction and retention books line the shelves of library business sections and are frequently the subjects at conferences and online blogs. The relationship between client satisfaction and profitability is often assumed, yet not prioritized or measured. Instead, industries and companies are continuously developing new clients by selling their goods and services. The ability to compete simply on product or service no longer exists, and with the evolution of technology, customers are co...
Source
Abstract This study using structural equation modelling (SEM) investigates the relationship between the dimensions of customer perceived value, customer satisfaction, and customer loyalty in the context of hotels. The main procedure of this study was to conceptualise hotel perceived value as a multidimensional construct of seven dimensions with both cognitive and affective aspects. Five out of these seven dimensions; specifically, the self-gratification, price, quality, transaction, hedonic dime...
Source
This website uses cookies.
We use cookies to improve your online experience. By continuing to use our website we assume you agree to the placement of these cookies.
To learn more, you can find in our Privacy Policy.