A Secondary Data research proposalWhich focuses only on a few banks in the UK1200 word CountResearch...

Question

A Secondary Data research proposalWhich focuses only on a few banks in the UK1200 word CountResearch question:Customer Loyalty to brands in the retail banking industryStructure:1. Your research question.

2. The theory and literature review underpinning your empirical work, covering the following.

The theory used in your project and the relevant parts of the module.
What literature you are reviewing and how it contributes to your research question. You might want to consider areas such as additional readings on theory, policy relevance, debates and existing findings.

3. Description of your empirical analysis, which might include the following.

Description of your research method and data used.
A reflection about how your empirical analysis contributes to answering your research question.
A brief example of preliminary findings, such as reflections on a pilot interview, a piece of evidence about a case study or the results of a regression equation.

4. Reflections on the progress of your research since your initial project plan submitted for TMA05, including considerations about the feasibility of your research, any obstacles already found and those you anticipate, and possible revisions to your timetable.

Robert · Accepted Answer

Customer Loyalty to Brands in the Retail Banking Industry                                             1                          
 

Customer Loyalty to Brands in the Retail Banking Industry 
DWA 
06/09/2012
Customer Loyalty to Brands in the Retail Banking Industry                                             2                          
 
 
Research Question 
Is loyalty falling among UK retail banking customers? 
Literature Review 
Relationship Marketing 
Relationship marketing has become much pronounce from past 15 years; however it is not a new 
concept. With the advent of business epoch, it became a crucial concept for entrepreneurs and 
organizations. Relationship marketing is nothing but working consciously to develop, establish, 
and liquidate relations with the customers and other interested parties so that it can create 
competitiveness and mutual values (Blomnqvist et al, 2000, page 23).According to Blomnqvist 
et al (2000) it can be divided into three levels. The levels show the way companies develop 
higher customer loyalty.
Fig.1: Three Levels of Relationship Marketing (Blomnqvist et al, 2000, page 29) 
Customer Loyalty to Brands in the Retail Banking Industry                                             3                          
 
 
Service Quality 
Service quality is not a different discipline but the central part of service marketing. The whole 
service marketing revolves around this. The quality of a product or service is nothing but what a 
customer perceives it to be. (Grönroos, 2002). Most of the times the technical measures are 
regarded to be crucial while measuring quality. But in reality, the customers tend to possess 
wider spectra of quality and they regard other aspects to be equally important. According to 
Grönroos (1991), the companies need to define the quality of service or product the way it is 
defined by them or they can lead to a wrong direction.  
Customer Value 
Customer value is the most crucial aspect of relationship marketing. Value can be defines as 
what customers fundamentally. And the want is driven by their perception. They feel valued 
when their perception about product or service is satisfied and they feel discontent when their 
perceptions are not satisfied. Thus, customer value is nothing but the difference between the 
values customers get and the cost of getting that product or service (Kotler, et al, 1996, page 11). 
          The services or products are important, but there are other factors as well which are taken 
into account while choosing a supplier. The relation plays a pivotal role in enhancing customers’ 
total experienced value. The close relation with the customers will help in increasing the loyalty 
among them. A close relation with a company can force them to think again while evaluating 
different products.

A Secondary Data research proposalWhich focuses only on a few banks in the UK1200 word CountResearch question:Customer Loyalty to brands in the retail banking industryStructure:1. Your research...

Solution

Answer To This Question Is Available To Download

Related Questions & Answers

Submit New Assignment