Carefully Read The Attached Article And Answer The Questions

Carefully Read The Attached Article And Answer The Questionschiguvi

Carefully read the attached article and answer the questions: Chiguvi D. and Guruwo P.T. (2017), Impact of Customer Satisfaction on Customer Loyalty in the Banking Sector, International Journal of Scientific Engineering and Research, Volume 5; Issue 2; February 2017; p 55-63.

Assignment Questions: 1. Identify the key concepts discussed in the article. (1 Mark) 2. Clarify the principal theories underlying the research. (1 Mark) 3. Compare Theories with hypotheses. Write the principal research hypothesis tested by the authors. Clarify its format. (1.. Consider the following model: (1.5) · Identify the independent variables. · Specify the type of the variable “ Customer loyalty†. · Identify at least two relationships highlighted in the model. 5. Before collecting data, the authors would have obtained an informed consent from participants. Take this survey as an example and explain how you should implement informed-consent procedures (2 Marks).

Paper For Above instruction

The article by Chiguvi and Guruwo (2017) investigates the impact of customer satisfaction on customer loyalty within the banking sector. This study aims to elucidate how various factors associated with customer satisfaction influence loyalty, which is vital for banks aiming to retain customers in a competitive environment. The key concepts discussed include customer satisfaction, customer loyalty, service quality, and banking relationships. The authors emphasize that customer satisfaction serves as a precursor to loyalty, highlighting the importance of service quality and customer perceptions in shaping loyalty outcomes.

Regarding the principal theories underpinning this research, the authors primarily draw upon the Expectancy-Disconfirmation Theory and the Relationship Marketing Theory. The Expectancy-Disconfirmation Theory suggests that customer satisfaction results from the comparison of pre-service expectations with actual service performance. When perceived performance exceeds expectations, satisfaction increases, fostering loyalty. Conversely, if performance falls short, dissatisfaction ensues. The Relationship Marketing Theory emphasizes the importance of building long-term customer relationships through continuously satisfying customers, ultimately leading to loyalty. Both theories foreground the importance of perceived service quality and customer perceptions as determinants of loyalty.

In comparing theories with hypotheses, the authors hypothesize that customer satisfaction positively influences customer loyalty in the banking context. The principal research hypothesis can be articulated as: "Customer satisfaction has a significant positive effect on customer loyalty." This hypothesis is typically tested using quantitative methods, employing measures of satisfaction and loyalty, and analyzing their statistical relationship through regression analysis or similar inferential techniques.

The research model discussed in the paper identifies several key variables. The independent variables include service quality, perceived value, and customer service. The dependent variable is customer loyalty, which is often classified as a behavioral and attitudinal construct. Behavioral loyalty may involve repeat banking transactions, while attitudinal loyalty involves customer willingness to recommend the bank or exhibit brand allegiance. The model highlights relationships such as the influence of service quality on customer satisfaction, and the subsequent effect of customer satisfaction on customer loyalty, illustrating a causal chain.

Before conducting data collection, obtaining informed consent from participants is ethically essential. Implementing informed consent procedures involves providing potential participants with comprehensive information regarding the study’s purpose, procedures, potential risks, and benefits. Participants should be assured of their voluntary participation and the right to withdraw at any time without penalty. Consent should be documented, either through a signed form or an explicit verbal agreement. Ensuring clarity and transparency throughout this process is fundamental to respecting participant autonomy and meeting ethical research standards.

References

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