客户之间的关系满意顾客忠诚度和盈利能力的办法进行实证研究外文翻译文档格式.docx

客户之间的关系满意顾客忠诚度和盈利能力的办法进行实证研究外文翻译文档格式.docx

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approach（seeGrö

nroos,1984,1991）.Itsfindingssupportthetheorythatcustomersatisfactionisrelatedtocustomerloyalty,whichinturnisrelatedtoprofitability（Heskettetal.,1994,anddiscussedinStorbackaetal.,1994）.Whilethistheoryhasbeenadvocatedforservicefirmsasaclass,thispaperpresentsanempiricalanalysisofoneretailbank,limitingthefindings'

generalizability.

Theserviceprofitchain（Heskettetal.,1994）hypothesizesthat:

Customersatisfaction-->

customerloyalty-->

profitability.

Theresearchpresentedhere,whileunabletodemonstratecausalitybecauseofitsrelianceonOLSregressionofcross-sectionaldata,doesillustratethatcustomersatisfaction,customerloyalty,andprofitabilityarerelatedtooneanother.Thus:

Customersatisfaction<

-->

customerloyalty<

Tothisend,thisresearchexaminedtwohypotheses:

H1:

Customersatisfactionisrelatedtocustomerloyalty.

H2:

Customerloyaltyisrelatedtoprofitability.

Thisresearchintentionallyfocusesatarelativelyhighlevelofabstractioninanefforttocontributetothegrowingbodyoftheoreticalandempiricalknowledgeontherelationshipsamongcustomersatisfaction,customerloyalty,andprofitability（seeHeskettetal.,1994;

Nelsonetal.,1992;

RustandZahorik,1991;

Storbackaetal.,1994,amongothers）.SuchresearchiscalledforinapaperauthoredbyStorbackaetal.（1994）publishedinthisjournal.

Relevantliterature

Theliteraturepertainingtorelationshipsamongcustomersatisfaction,customerloyalty,andprofitabilitycanbedividedintotwogroups.Thefirst,servicemanagementliterature,proposesthatcustomersatisfactioninfluencescustomerloyalty,whichinturnaffectsprofitability.ProponentsofthistheoryincluderesearcherssuchasAndersonandFornell（1994）;

Gummesson（1993）;

Heskettetal.（1990）;

Heskettetal.（1994）;

ReicheldandSasser（1990）;

Rust,etal.（1995）;

SchneiderandBowen（1995）;

Storbackaetal.（1994）;

andZeithamletal.（1990）.Theseresearchersdiscussthelinksbetweensatisfaction,loyalty,andprofitability.Statistically-drivenexaminationoftheselinkshasbeeninitiatedbyNelsonetal.（1992）,whodemonstratedtherelationshipofcustomersatisfactiontoprofitabilityamonghospitals,andRustandZahorik（1991）,whoexaminetherelationshipofcustomersatisfactiontocustomerretentioninretailbanking.TheBankAdministrationInstitutehasalsoexploredtheseideas,inparticularRothandvanderVelde（1990,1991）[1].

Theservicemanagementliteraturearguesthatcustomersatisfactionistheresultofacustomer'

sperceptionofthevaluereceivedinatransactionorrelationship-wherevalueequalsperceivedservicequalityrelativetopriceandcustomeracquisitioncosts（seeBlanchardandGalloway,1994;

Heskettetal.,1990）-relativetothevalueexpectedfromtransactionsorrelationshipswithcompetingvendors（Zeithamletal.,1990）.Loyaltybehaviours,includingrelationshipcontinuance,increasedscaleorscopeofrelationship,andrecommendation（wordofmouthadvertising）resultfromcustomers'

beliefsthatthequantityofvaluereceivedfromonesupplierisgreaterthanthatavailablefromothersuppliers.Loyalty,inoneormoreoftheformsnotedabove,createsincreasedprofitthroughenhancedrevenues,reducedcoststoacquirecustomers,lowercustomer-pricesensitivity,anddecreasedcoststoservecustomersfamiliarwithafirm'

sservicedeliverysystem（seeReicheldandSasser,1990）.

Thesecondrelevantliteratureisfoundinthemarketingdomain.Itdiscussestheimpactofcustomersatisfactiononcustomerloyalty.Yi'

s"

Criticalreviewofcustomersatisfaction"

（1990）concludes,"

Manystudiesfoundthatcustomersatisfactioninfluencespurchaseintentionsaswellaspost-purchaseattitude"

（p.104）.

Themarketingliteraturesuggeststhatcustomerloyaltycanbedefinedintwodistinctways（JacobyandKyner,1973）.Thefirstdefinesloyaltyasanattitude.Differentfeelingscreateanindividual'

soverallattachmenttoaproduct,service,ororganization（seeFornier,1994）.Thesefeelingsdefinetheindividual'

s（purelycognitive）degreeofloyalty.

Theseconddefinitionofloyaltyisbehavioural.Examplesofloyaltybehaviourincludecontinuingtopurchaseservicesfromthesamesupplier,increasingthescaleandorscopeofarelationship,ortheactofrecommendation（Yi,1990）.Thebehaviouralviewofloyaltyissimilartoloyaltyasdefinedintheservicemanagementliterature.Thisstudyexaminesbehavioural,ratherthanattitudinal,loyalty（suchasintenttorepurchase）.Thisapproachisintended,first,toincludebehaviouralloyaltyintheconceptualizationofcustomerloyaltythathasbeenlinkedtocustomersatisfaction,andsecond,tomakethedemonstratedsatisfaction/loyaltyrelationshipimmediatelyaccessibletomanagersinterestedincustomerbehaviourslinkedtofirmperformance.

Boththeservicemanagementandthemarketingliteraturessuggestthatthereisastrongtheoreticalunderpinningforanempiricalexplorationofthelinkagesamongcustomersatisfaction,customerloyalty,andprofitability.Therelativelysmallquantityofempiricalresearchperformedontheserelationshipstodate（Storbackaetal.,1994）isprobablytheresultofthepaucityoforganizations'

measuring"

soft"

issues,suchascustomersatisfactionandcustomerloyalty,inmeaningfulways.

Thedataset

Customersatisfactiondatawerecollectedfrom12,000retail-bankingcustomersat59divisions（geographicbusinessunitscomposedofmultiplebranches）.Thesamplewasdrawnfromdivisionsrepresenting73percentofallhouseholdsservedbythebank[2].Alldivisionsexaminedhadbeenpartofthebankforatleastoneyear.

Allsurveydatawereaggregatedatthedivisionlevel.Theuseofdivisionsasthelevelofanalysisisconsistentwiththesubjectbank'

sphilosophyencouragingdivisionleaderstomanagetheiroperationsindependentlywhilesharingbestpractices.Thedivisionsmaintainindependentpricing,policiesandprocedures,toolstoaidinthedeliveryofcustomerservice,rewardandrecognitionsystems,andcultures.Withineachdivision,thesamevariablesarerelativelystandardized.Thusvariationinlevelsofcustomersatisfactioncanbeexpectedatthedivisionlevel.

Theuseofdivisionsastheunitofanalysisisalsoconsistentwiththenatureofacustomer'

sbankingrelationshipatthisbankandmanyotherlargeUSbankstoday.Whileinthepastacustomer'

srelationshipwaspredominantlywiththelocalbranch,theintroductionofautomatictellermachinesandcentralizedtelephonecustomerservicecentreshasresultedinmanycustomerswhorarelytransactbusinessatabranch.Whenphysicalpresenceatabranchisnecessary,itneednotbeattheparticularbranchwhereanaccountwasopened.Servicerecovery,animportantaspectofacustomer/service-organizationrelationship（Heskettetal.,1990）,isatleastaslikelytooccurthroughacentralizedtelephonecustomerservicecentreasthroughalocalbranch.Thusmanycustomers'

serviceexperienceisprobablydrivenbycontactwithavarietyofpointsbeyondthelocalbranchandthuscapturedatthedivisionlevel.Thishypothesis,combinedwiththesubjectbank'

sorganizationstructurestressingtheautonomyofitsdivisions,supportstheuseofthedivisionasunitofanalysisforthisresearch.

Satisfactiondatawerecollectedthroughaconfidentialfour-pagequestionnairedevelopedbythebankandamarketresearchfirm.Thesurveyposedquestionsabouteachcustomer'

slevelofsatisfactionwithaspectsofserviceandprice,andsoliciteddemographicinformation（seeAppendix1）.SurveysweremailedtorandomlyselectedcustomersinJanuary1994[3].

Customer-satisfactionsurveyrespondentdemographicsdonotidenticallymatchthebank'

spopulationasestimatedbymanagement.Respondentsmoreheavilyrepresentolder,less-affluentcustomers.Toensurethattheresultsofthisstudy'

sanalyseswerenotinfluencedbythesediscrepancies,keyanalyseswereperformedfordemographicsubgroupscategorizedbyrespondentageandrespondenthouseholdincome.Relationshipssupportinghypothesesoneandtwocanbeinferredforalmosteverydemographicsubgroup,suggestingthatthefindingsbasedonthedatasetasawholearerepresentative.

Customerloyaltydatawerecollectedbythedivisionsonbothretention（lengthofrelationship）andcrosssell（depthofrelationship）.Profitabilitydataforeachdivisionwereprovidedbythebank'

streasuryfunction.

Method

OLSregressionisusedtoexaminethehypothesizedrelationships.Toincreasetheinternalvalidityoftheresults,multiplemeasuresofsatisfaction,loyalty,andprofitabilitywereexaminedwheneverpossible.TableIillustratesthesemultiplemeasures;

descriptionsfollowinthetext.

Measuresofcustomersatisfaction

Customersatisfactionwasmeasuredintwoways.Thefirstmeasureconsistsofresponsestoasinglequestiononthecustomer-satisfactionquestionnaire:

"

Overall,howsatisfiedareyouwith[thebank]?

"

Responsesforallsatisfactionquestionsweremadeon1-7Likert-typescaleslabelled"

verysatisfied"

（1）and"

verydissatisfied"

（7）ateachextreme.Theproblemsassociatedwiththeuseofasingleresponsevariabl