Building relationship with customers by using technological solutions in commercial banks of Latvia

Baltic Journal of Management - Tập 1 Số 1 - Trang 24-33 - 2006
AndraBrige1
1Entrepreneurship Department, Banking Institute of Higher Education, Riga, Latvia

Tóm tắt

PurposeThis paper aims to give a short overview on bank/customer relationship experience in the Latvian banking system and the impact of developing technology in banking. Without usage of technology commercial banks cannot provide customers with effective services, but short banking history increases the danger of such a reduced loyalty towards the services supplier.Design/methodology/approachLiterature studies, quantitative surveys combined with in‐depth interviews with bank customers and employees, and experts representing ITC sector.FindingsSatisfaction with services provided is not the only factor influencing customer loyalty level. Customers experiencing a short banking history can be loyal to the service provider due to the lack of financial literacy. A great impact on loyalty level is made by other factors, such as: image, prestige, word of mouth, etc.Research limitations/implicationsThe sample used for research did not include all 23 commercial banks of Latvia. Further research should be developed to compare customer loyalty levels in the more technologically developed and less technologically developed banks, and additional loyalty‐influencing determinants could be included.Originality/valueAn analysis of ITC development in banking side‐effects provides useful information not only for transitional countries but also for developing countries.

Từ khóa


Tài liệu tham khảo

Bhote, K.R. (1996), Beyond Customer Satisfaction to Customer Loyalty, American Management Association, New York, NY.

Cardozo, R. (1965), “An experimental study of customer effort, expectation, and satisfaction”, Journal of Marketing Research, Vol. 2, pp. 244‐9.

Fornell, C. (1992), “A national customer satisfaction barometer: the Swedish experience”, Journal of Marketing Research, Vol. 56, pp. 6‐21.

Giese, J. and Cote, J. (2000), “Defining consumer satisfaction”, Academy of Marketing Science, Vol. 1.

Lustsik, O. (2003), “E‐banking in Estonia: reasons and benefits of rapid growth”, Kroon & Economy, Vol. 3, pp. 24‐36.

Parasuraman, A., Zeithalm, V.A. and Berry, L.L. (1991), “Understanding customer expectations of service”, Sloan Management Review, Vol. 32 No. 3, pp. 39‐48.

Spreng, R., Scott, B., MacKenzie and Olshavsky, R. (1996), “A re‐examination of the determinants of consumer satisfaction”, Journal of Marketing, Vol. 60, pp. 15‐32.

Uiboupin, J. (2004), “Implications of foreign bank entry on central and east European banking market”, Kroon & Economy, Vol. 1, pp. 25‐31.

Zubkova, J., Kauzens, E., Tillers, I. and Prusis, P. (2003), Financial Market in Latvia, Bank of Latvia, Riga.

Bloemer, J.M. and Kasper, J.D.P. (1995), “The complex relationship between consumer satisfaction and brand loyalty”, Journal of Economic Psychology, Vol. 16, pp. 311‐29.

Carr, N.G. (1999), “Banking industry; customer satisfaction; research; market strategy”, Harvard Business Review, January‐March, pp. 15‐18.

Crosby, A.L. and Stephens, N. (1987), “Effects of relationship marketing on satisfaction retention, and prices in the life insurance industry”, Journal of Marketing Research, Vol. 24, pp. 404‐11.

Doney, P.M. and Cannon, J.P. (1997), “An examination of the nature of trust in buyer‐seller relationships”, Journal of Marketing, Vol. 61 No. 4, pp. 35‐51.

Galbreath, J. and Rogers, T. (1999), “Customer relationship leadership: a leadership and motivation model for the twenty‐first century business”, The TQM Magazine, Vol. 11, pp. 161‐71.

Global Information Technology Report 2001–2002. Readiness for the Networked World. (2002), The World Economic Forum and the Centre for International Development (CID) at Harvard University, Boston, MA.

Grönroos, C. and Gummeson, E. et al. (1985), Service Marketing – Nordic School Perspectives, Stockholm University, Stockholm.

Howard, J. and Sheth, J.N. (1969), The Theory of Buyer Behaviour, Wiley, New York, NY.

Mowen, J. and Minor, M. (1998), Consumer Behaviour, 5th ed., Prentice‐Hall Inc., Upper Saddle River, NJ.

Rimsevics, I. (2002), Bank of Latvia, Economic Growth of Latvia and Welfare, available at: www.bank.lv/eng/main/pubrun/presrunas/index.php?33392.

Koivu, T. (2002), Banking and Finance in the Baltic Countries, Bank of Finland, BOFIT, Helsinki.

Thông tin
Thông tin xuất bản

Baltic Journal of Management

Tập 1 Số 1

24-33

Thông tin tác giả