Loyalty, Investment Model and New Media - A Correlation Study in Banking Services in Montenegro

Bojana Femić-Radosavović; Milorad Jovović

doi:10.1515/jcbtp-2017-0002

.blurhash-client-img { display: none !important; }

Loyalty, Investment Model and New Media - A Correlation Study in Banking Services in Montenegro

Journal of Central Banking Theory and Practice

Volume 6 (2017): Issue 1 (January 2017)

By: Bojana Femić-Radosavović and Milorad Jovović

Open Access

|Feb 2017

Abstract

In this paper we perceived causal relationship between loyalty, satisfaction, quality of the alternatives, investment size, and new media through online word of mouth in banking services in Montenegro. Obtained empirical results substantiated validity of the set hypothetical frame, i.e. meaningfulness of the conceptual model that is set.

References

1. Auh, S., Bell, S.J., McLeod, C.S. and Shih, E. (2007). Co-production and customer loyalty in financial services. Journal of Retailing, Vol. 88 No. 3, 359-70.10.1016/j.jretai.2007.03.001
Search in Google Scholar Back to article
2. Backman, S. J., and J.L. Crompton (1991). The Usefulness of Selected Variables for Predicting Activity Loyalty. Leisure Sciences, 13: 205-20.
Search in Google Scholar Back to article
3. Beerli, A., J.D. Martin, and A. Quintana (2004). A Model of Customer Loyalty in the Retailing Banking Market. European Journal of Marketing, 38 (1/2): 253-75.
Search in Google Scholar Back to article
4. Brown, J., Broderick, A.J. & Lee, N. (2007) Word of mouth communication within online communities: conceptualizing the online social network. Journal Of Interactive Marketing. Vol. 21. No. 310.1002/dir.20082
Search in Google Scholar Back to article
5. Chung, C.M.Y. and Darke, P.R. (2006). The consumer as advocate: selfrelevance, culture and word-of-mouth. Marketing Letters, Vol. 17, 269-79.10.1007/s11002-006-8426-7
Search in Google Scholar Back to article
6. Godes, D. and Mayzlin, D. (2004). Using online conversations to study word-of-mouth communications. Marketing Science, Vol. 23 No. 4, pp 545-60.10.1287/mksc.1040.0071
Search in Google Scholar Back to article
7. Harris, L.C., & M.M.H. Goode (2004). The Four Levels of Loyalty and the Pivotal Role of Trust: A Study of Online Service Dynamics. Journal of Retailing, Vol. 8010.1016/j.jretai.2004.04.002
Search in Google Scholar Back to article
8. Hong, S.-C. and Goo, Y.J.J. (2004). A causal model of customer loyalty in professional service firms: an empirical study. International Journal of Management, Vol. 21 No. 4, pp. 531-40.
Search in Google Scholar Back to article
9. Le, B., and C. R. Agnew (2003). “Commitment and Its Theorized Determinants: A Meta-Analysis of the Investment Model.” Personal Relationships, 10: 37-5710.1111/1475-6811.00035
Search in Google Scholar Back to article
10. Mattila, A.S. (2004). The impact of service failures on customer loyalty: the moderating role of affective commitment. International Journal of Service Industry Management, Vol. 15 No. 2, 134-49.
Search in Google Scholar Back to article
11. Morais, D. B., M. J. Dorsch, and S. J. Backman (2004). Can Tourism Providers Buy Their Customers’ Loyalty? Examining the Influence of Customer-Provider Investments on Loyalty. Journal of Travel Research, 42 (3): 235-43.
Search in Google Scholar Back to article
12. Nunnally, J. & Bernstein, I. (1994) Psychometric Theory (3rd ed). New York: McGraw-Hill
Search in Google Scholar Back to article
13. Oliver, R.L. 1999. Whence consumer loyalty? Journal of Marketing, Vol. 63, 33-44.
Search in Google Scholar Back to article
14. Pullman, M.E. and Gross, M.A. (2004). Ability of experience design elements to elicit emotions and loyalty behaviors. Decision Sciences, Vol. 35 No. 3, 551-78.10.1111/j.0011-7315.2004.02611.x
Search in Google Scholar Back to article
15. Rundle-Thiele, S. and Mackay, M.M. 2001. Assessing the performance of brand loyalty measures, Journal of Services Marketing, Vol. 15 No. 7, 529-46.
Search in Google Scholar Back to article
16. Rusbult, C. E. (1980a). Commitment and satisfaction in romantic associations: a test of the Investment model. Journal of Experimental Social Psychology, 16: 172-86.10.1016/0022-1031(80)90007-4
Search in Google Scholar Back to article
17. Rusbult, C. E. (1980b). “Satisfaction and Commitment in Friendships.” Representative Research in Social Psychology, 11: 96-105.
Search in Google Scholar Back to article
18. Salgaonkar, P.B. and Mekoth, N. (2004). Patient as a source of recommendation and its influence on another patient’s loyalty to the physician: an exploratory empirical study. Journal of Consumer Satisfaction, Dissatisfaction and Complaining Behavior, Vol. 17, pp. 16-26.
Search in Google Scholar Back to article
19. Sen, S. and Lerman, D. (2007). Why are you telling me this? An examination into negative consumer reviews on the web. Journal of Interactive Marketing, Vol. 21 No. 4, pp. 76-94.10.1002/dir.20090
Search in Google Scholar Back to article
20. Smith, D., Menon, S. & Sivakumar, K. (2005) Online peer and editorial recommendations, trust, and choice in virtual markets. Journal of Interactive Marketing. Vol. 19 No. 310.1002/dir.20041
Search in Google Scholar Back to article
21. Srinivasan, S. S., R. Anderson, & K. Ponnavolu. (2002). Customer Loyalty in E-Commerce: An Exploration of Its Antecedents and Consequences. Journal of Retailing, Vol. 7810.1016/S0022-4359(01)00065-3
Search in Google Scholar Back to article
22. Villanueva, J., Shijin Yoo, and Dominique M. Hanssens (2008). The Impact of Marketing-Induced Word-of-Mouth Customer Acquisition on Customer Equity Growth. Journal of Marketing Research: February 2008, Vol. 45, No. 1, pp. 48-59. 10.1509/jmkr.45.1.48
Search in Google Scholar Back to article

Articles in this issue

DOI: https://doi.org/10.1515/jcbtp-2017-0002 | Journal eISSN: 2336-9205

Journal RSS Feed

Language: English

Page range: 15 - 28

Submitted on: Jun 11, 2016

Accepted on: Nov 11, 2016

Published on: Feb 8, 2017

Published by: Central Bank of Montenegro

In partnership with: Paradigm Publishing Services

Publication frequency: 3 issues per year

Keywords:

Loyalty,

services,

banking,

new media,

investment model,

online Word-of-Mouth (WOM)

Related subjects:

Business and economics,

Business management,

Business management, other

© 2017 Bojana Femić-Radosavović, Milorad Jovović, published by Central Bank of Montenegro
This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.

Volume 6 (2017): Issue 1 (January 2017)