Service quality in bank during an economic crisis

Purpose – The purpose of this paper is to address the aftermath of the crisis that has plagued the Spanish financial sector from a microeconomic and emotional perspective associated to financial entities’ relationships with their customers. Design/methodology/approach – The authors build a model of effects with structural equation modelling based on the quality of the relationship between financial entities and their customers. The authors identify the different dimensions of quality in the entity’s service provision (tangible quality, functional quality and staff quality) as essential antecedents of the different dimensions of relationship quality (satisfaction, trust and loyalty). Moreover, the authors develop a multi-group analysis to test the moderator effect of age in the proposed model. Findings – The work shows that bank customers have been eminently results driven focusing on functional quality which is a determinant cause of customer satisfaction and trust. Research limitations/implications – Fur...

[1]  Ramón Barrera Barrera,et al.  Simultaneous measurement of quality in different online services , 2014 .

[2]  Qinqin Zheng,et al.  Chinese customers' loyalty to international consulting firms , 2013 .

[3]  M. Minor,et al.  Beyond loyalty: customer satisfaction, loyalty, and fortitude , 2013 .

[4]  J. Segarra-Moliner,et al.  Relationship quality in business to business: a cross‐cultural perspective from universities , 2013 .

[5]  Marc Grau-Grau.  Clouds over Spain: Work and Family in the Age of Austerity , 2013 .

[6]  Koushiki Choudhury,et al.  Service quality and customers’ purchase intentions: an empirical study of the Indian banking sector , 2013 .

[7]  Chris A. Vassiliadis,et al.  Customers' cognitive patterns of assurance: a dual approach , 2013 .

[8]  The impact of crisis events on the stock returns volatility of international airlines , 2013 .

[9]  Werner H. Kunz,et al.  Trust Development in E-Services: A Cohort Analysis of Millennials and Baby Boomers , 2013 .

[10]  Alejandro Lara,et al.  La calidad percibida de servicio y su influencia en la fidelidad de usuarios mayores en centros de fitness públicos , 2013 .

[11]  Shamsher Singh.  The impact of service delivery quality on customer satisfaction in Indian banks , 2013 .

[12]  Rashi M. Goplani.  EMPIRICAL INVESTIGATION OF SERVICE QUALITY IN RETAIL BANKING: COMPARISON OF STATE BANK OF INDIA AND ICICI BANK, AHMADABAD , 2013 .

[13]  Wiesław Urban,et al.  Perceived quality versus quality of processes: a meta concept of service quality measurement , 2013 .

[14]  Simona-Mihaela Trif.  The influence of overall satisfaction and trust on customer loyalty , 2013 .

[15]  G. Moschis,et al.  The timing and context of consumer decisions , 2012 .

[16]  Meredith E. David,et al.  Uncovering the real effect of switching costs on the satisfaction-loyalty association: The critical role of involvement and relationship benefits , 2012 .

[17]  Irene Ramos-Soler,et al.  Presencia y representación de las personas mayores en la publicidad televisiva: el caso español , 2012 .

[18]  R. Bennett,et al.  Public attitudes towards the UK banking industry following the global financial crisis , 2012 .

[19]  Carolin Sachse.  Strategic Management and Marketing , 2012 .

[20]  G. Moschis.  Consumer Behavior in Later Life: Current Knowledge, Issues, and New Directions for Research , 2012 .

[21]  V. Murugan.  CUSTOMER SATISFACTION WITH SERVICE QUALITY: AN EMPIRICAL STUDY OF PUBLIC AND PRIVATE SECTOR BANKS IN TIRUPATI REGION , 2012 .

[22]  An empirical investigation of the relative effect of trust and switching costs on service loyalty in the UK retail banking industry , 2011 .

[23]  B. Narteh,et al.  An analysis of students' knowledge and choice criteria in retail bank selection in sub‐Saharan Africa: The case of Ghana , 2011 .

[24]  Folarin Akinbami.  Financial services and consumer protection after the crisis , 2011 .

[25]  Sergios Dimitriadis,et al.  Trust‐based segmentation: Preliminary evidence from technology‐enabled bank channels , 2011 .

[26]  M. Estrada,et al.  La lealtad del consumidor en el sector financiero , 2011 .

[27]  D. Grant,et al.  Service quality and its relation to satisfaction and loyalty in logistics outsourcing relationships , 2010 .

[28]  Barbara Čater,et al.  Product and relationship quality influence on customer commitment and loyalty in B2B manufacturing relationships , 2010 .

[29]  G. Laurent,et al.  Why do Older Consumers Buy Older Brands? The Role of Attachment and Declining Innovativeness , 2010 .

[30]  P. Aurier,et al.  The differing and mediating roles of trust and relationship commitment in service relationship maintenance and development , 2010 .

[31]  Fabrizio Zerbini,et al.  The Meaning(s) of Trust. A Content Analysis on the Diverse Conceptualizations of Trust in Scholarly Research on Business Relationships , 2010 .

[32]  A. Lewis.  The credit crunch: Ideological, psychological and epistemological perspectives , 2010 .

[33]  J. Peiró,et al.  Linking Functional and Relational Service Quality to Customer Satisfaction and Loyalty: Differences between Men and Women , 2010, Psychological reports.

[34]  David Leiser,et al.  Human Foibles or Systemic Failure - Lay Perceptions of the 2008-09 Financial Crisis‎ , 2010 .

[35]  W. Kunz,et al.  Consumer Trust in Service Companies: A Multiple Mediating Analysis , 2010 .

[36]  Yenhui Ouyang.  A relationship between the financial consultants' service quality and customer trust after financial tsunami , 2010 .

[37]  Kavita Chavali,et al.  Significance of Trust and Loyalty during Financial Crisis: A Study on Customer Behavior of Indian Banks , 2010 .

[38]  Barbara M. Byrne,et al.  Structural equation modeling with AMOS , 2010 .

[39]  Ricardo Javier. Palomo Zurdo,et al.  Las entidades financieras de economía social ante la crisis financiera: un análisis de las cajas rurales españolas , 2010 .

[40]  Pablo Burillo,et al.  Satisfacción, calidad y valor percibido en espectadores de atletismo , 2010 .

[41]  José M. Peiró,et al.  Testing a hierarchical and integrated model of quality in the service sector: functional, relational, and tangible dimensions , 2009 .

[42]  M. Al-hawari,et al.  The relationship between service quality and retention within the automated and traditional contexts of retail banking , 2009 .

[43]  Alex Cukierman,et al.  Reflections on the Crisis and on Its Lessons for Regulatory Reform and for Central Bank Policies , 2009 .

[44]  Paolo Guenzi,et al.  A comprehensive model of customer trust in two retail stores , 2009 .

[45]  Javier Sánchez García,et al.  Perceived value and customer loyalty in financial services , 2009 .

[46]  Paolo Guenzi,et al.  The impact of strategic account managers' behaviors on relational outcomes: An empirical study , 2009 .

[47]  M. Moliner.  Loyalty, perceived value and relationship quality in healthcare services , 2009 .

[48]  Thanika Devi Juwaheer,et al.  Relationships and impacts of service quality, perceived value, customer satisfaction, and image: an empirical study , 2009 .

[49]  Joaquín Maudos Villarroya.  La banca española ante la crisis financiera , 2009 .

[50]  Catherine A. Cole,et al.  Consumer decision making and aging: Current knowledge and future directions , 2009 .

[51]  Affluent mature consumers: Preference and patronisation for financial services , 2008 .

[52]  N. Schwarz.  Introduction to research dialogue , 2008 .

[53]  Riadh Ladhari.  Alternative measures of service quality: a review , 2008 .

[54]  A. Drolet,et al.  Age-related differences in responses to affective vs. rational ads for hedonic vs. utilitarian products , 2007 .

[55]  Rosa M. Rodríguez,et al.  Perceived relationship quality and post‐purchase perceived value , 2007 .

[56]  Jacqueline K. Eastman,et al.  The elderly's internet usage: an updated look , 2007 .

[57]  Rosa M. Rodríguez,et al.  Relationship Quality with a Travel Agency: The Influence of the Postpurchase Perceived Value of a Tourism Package , 2007 .

[58]  Ruben Chumpitaz Cáceres,et al.  Service quality, relationship satisfaction, trust, commitment and business‐to‐business loyalty , 2007 .

[59]  Travel agency relationship quality. , 2007 .

[60]  M. Moliner-Tena,et al.  Relationship Quality of an Establishment and Perceived Value of a Purchase , 2007 .

[61]  Stephen S. Tax,et al.  Satisfaction Strength and Customer Loyalty , 2007 .

[62]  J. Ramos,et al.  Calidad de servicio y calidad de vida: un estudio en servicios de atención a personas con discapacidad intelectual , 2007 .

[63]  Papassapa Rauyruen,et al.  Relationship quality as a predictor of B2B customer loyalty , 2007 .

[64]  B. Ehigie.  Correlates of customer loyalty to their bank: a case study in Nigeria , 2006 .

[65]  Kevin Ibeh,et al.  Customers' Perception of Electronic Service Delivery in the UK Retail Banking Sector , 2006 .

[66]  C. Droge,et al.  Service quality, trust, specific asset investment, and expertise: Direct and indirect effects in a satisfaction-loyalty framework , 2006 .

[67]  I. Phau,et al.  The influence of price and brand loyalty on store brands versus national brands , 2006 .

[68]  M. A. M. Tena,et al.  Customer perceived value in banking services , 2006 .

[69]  Ioannis E. Chaniotakis,et al.  The importance of service quality in bank selection for mortgage loans , 2006 .

[70]  J. García,et al.  La calidad de la relación en mercados industriales: estado de la cuestión , 2006 .

[71]  Carlos Flavián,et al.  Consumer trust, perceived security and privacy policy: Three basic elements of loyalty to a web site , 2006, Ind. Manag. Data Syst..

[72]  L. Bove,et al.  Customer loyalty to one service worker: Should it be discouraged? , 2006 .

[73]  Andreas Eggert,et al.  Relationship value and relationship quality: Broadening the nomological network of business‐to‐business relationships , 2006 .

[74]  S. G. Deshmukh,et al.  Service quality models: a review , 2005 .

[75]  Carl F. Mela,et al.  Choice Models and Customer Relationship Management , 2005 .

[76]  G. Laurent,et al.  Repeat Purchasing of New Automobiles by Older Consumers: Empirical Evidence and Interpretations , 2005 .

[77]  Devon S. Johnson,et al.  Cognitive and affective trust in service relationships , 2005 .

[78]  Nuviala Nuviala.  CALIDAD PERCIBIDA DEL SERVICIO DEPORTIVO EN EDAD ESCOLAR DESDE LA PERSPECTIVA DE LOS PADRES. EL CASO DE LA PROVINCIA DE HUELVA QUALITY PERCEIVED OF SPORTS SERVICE IN SCHOOL AGE FROM THE PARENTS'S PERSPECTIVE. THE CASE OF HUELVA PROVINCE , 2005 .

[79]  C. W. Park,et al.  The Ties That Bind: Measuring the Strength of Consumers’ Emotional Attachments to Brands , 2005 .

[80]  Cristiana Raquel Lages,et al.  The Relqual Scale: A Measure of Relationship Quality in Export Market Ventures , 2005 .

[81]  Nicole Coviello,et al.  Methodological issues in international entrepreneurship research , 2004 .

[82]  Venkatesh Shankar,et al.  Customer value, satisfaction, loyalty, and switching costs: An illustration from a business-to-business service context , 2004 .

[83]  N. Paparoidamis,et al.  Service quality and marketing performance in business‐to‐business markets: exploring the mediating role of client satisfaction , 2004 .

[84]  A. Caruana.  The impact of switching costs on customer loyalty: A study among corporate customers of mobile telephony , 2003 .

[85]  Robert M. Schindler,et al.  Nostalgia for early experience as a determinant of consumer preferences , 2003 .

[86]  Sajeev Varki,et al.  Measuring the quality of relationships in consumer services: an empirical study , 2003 .

[87]  Rolph E. Anderson,et al.  E‐satisfaction and e‐loyalty: A contingency framework , 2003 .

[88]  Vikas Mittal,et al.  Assessing the Service-Profit Chain , 2002 .

[89]  Subhash Sharma,et al.  An exploration of the moderating role of buyer corporate culture in industrial buyer-seller relationships , 2002 .

[90]  J. L. Harrison-Walker.  Examination of the Factorial Structure of Service Quality: A Multi-Firm Analysis , 2002 .

[91]  Dwayne D. Gremler,et al.  Understanding Relationship Marketing Outcomes , 2002 .

[92]  G. Odekerken-Schröder,et al.  Store Satisfaction and Store Loyalty Explained by Customer- and Store-Related Factors , 2002 .

[93]  Dawn Iacobucci,et al.  Does Relationship Marketing Age Well , 2001 .

[94]  Alison Dean,et al.  The contribution of emotional satisfaction to consumer loyalty , 2001 .

[95]  H. Winklhofer,et al.  Index Construction with Formative Indicators: An Alternative to Scale Development , 2001 .

[96]  M. Holbrook,et al.  The Chain of Effects from Brand Trust and Brand Affect to Brand Performance: The Role of Brand Loyalty , 2001 .

[97]  P. S. Vera.  Construcción social de los hábitos de consumo en las personas mayores , 2001 .

[98]  Christian Homburg,et al.  Personal characteristics as moderators of the relationship between customer satisfaction and loyalty—an empirical analysis , 2001 .

[99]  Eric J. Arnould,et al.  Older Consumers' Disposition of Special Possessions , 2000 .

[100]  Jacques Nantel,et al.  A reliable and valid measurement scale for the perceived service quality of banks , 2000 .

[101]  Jagdip Singh,et al.  Agency and trust mechanisms in consumer satisfaction and loyalty judgments , 2000 .

[102]  I. G. Esteban.  Criterios de elección del establecimiento comercial por los consumidores de la tercera edad: Un estudio empírico , 2000 .

[103]  R. Oliver.  Whence Consumer Loyalty? , 1999 .

[104]  Necmi K. Avkiran,et al.  Quality customer service demands human contact , 1999 .

[105]  G. Soutar,et al.  Consumer perceived value: The development of a multiple item scale , 2001 .

[106]  M. Holbrook,et al.  Market segmentation based on age and attitude toward the past: Concepts, methods, and findings concerning nostalgic influences on customer tastes , 1996 .

[107]  Marla Royne Stafford.  Demographic discriminators of service quality in the banking industry , 1996 .

[108]  A. Ghobadian,et al.  Service Quality: Concepts and Models , 1994 .

[109]  S. Hunt,et al.  The Commitment-Trust Theory of Relationship Marketing , 1994 .

[110]  P. Kaminski,et al.  Psychographic and lifestyle antecedents of service quality expectations: a segmentation approach , 1993 .

[111]  Erdener Kaynak,et al.  Bank and Product Selection: Hong Kong , 1992 .

[112]  R. Oliver,et al.  The Dimensionality of Consumption Emotion Patterns and Consumer Satisfaction , 1991 .

[113]  M. Holbrook,et al.  Echoes of the Dear Departed Past: Some Work in Progress on Nostalgia , 1991 .

[114]  J. Carman.  Consumer perceptions of service quality: an assessment of the SERVQUAL dimensions , 1990 .

[115]  A. Parasuraman,et al.  Delivering quality service : balancing customer perceptions and expectations , 1990 .

[116]  A. Parasuraman,et al.  SERVQUAL: A multiple-item scale for measuring consumer perceptions of service quality. , 1988 .

[117]  R. Bagozzi,et al.  On the evaluation of structural equation models , 1988 .

[118]  E. Gummesson.  USING INTERNAL MARKETING TO DEVELOP A NEW CULTURE—THE CASE OF ERICSSON QUALITY , 1987 .

[119]  C. Grönroos.  A Service Quality Model and its Marketing Implications , 1984 .

[120]  Kenneth L. Bernhardt,et al.  Comments on Christian Grönroos' Strategic management and marketing in the service sector , 1984 .

[121]  C. Fornell,et al.  Evaluating structural equation models with unobservable variables and measurement error. , 1981 .

[122]  D. Larcker,et al.  STRUCTURAL EQUATION MODELS WITH UNOBSERVABLE VARIABLES AND MEASUREMENT ERROR , 1981 .

[123]  R. Oliver.  A Cognitive Model of the Antecedents and Consequences of Satisfaction Decisions , 1980 .

[124]  Richard P. Bagozzi,et al.  Performance and Satisfaction in an Industrial Sales Force: An Examination of their Antecedents and Simultaneity , 1980 .

[125]  J. Hair.  Multivariate data analysis , 1972 .