Abstract
Bank customer loyalty is becoming a priority concern for banking institutions, as a means of gradually increasing complementary margins and eliminating the lack of liquidity caused by the current economic climate. Following a top down process, this focus culminates at the branch level, where banks’ front office employees are seen as a driving-force for building customer loyalty. At the same time, however, the difficulty in identifying and operationalizing the factors or determinants that most contribute to creating and maintaining bank customer loyalty has long been recognized. In this sense, based on the integrated use of cognitive maps and measuring attractiveness by a categorical based evaluation technique (MACBETH), this study proposes a multiple criteria framework for bank customer loyalty measurement and management. The results show that our framework allows bank customers with higher rates of customer loyalty to be identified and, from a benchmarking perspective, indicates what best practices should be followed to boost long-term relationships. Implications for scholars and practitioners are discussed.
Additional information
Notes on contributors
Fernando A. F. Ferreira
Fernando A. F. FERREIRA is an Assistant Professor at the ISCTE Business School of the University Institute of Lisbon, and an Adjunct Research Professor at the Fogelman College of Business and Economics of the University of Memphis, TN, USA. He holds a PhD in Quantitative Methods Applied to Economics and Management from the University of Algarve, Portugal. Some of his articles are published by ISI-listed journals such as Journal of the Operational Research Society, Management Decision, International Entrepreneurship and Management Journal, and International Journal of Strategic Property Management. He has practical experience as group facilitator and his research interests include multiple criteria decision analysis, fuzzy logics and integrated systems for performance measurement.
Marjan S. Jalali
Marjan S. JALALI is an Assistant Professor at the ISCTE Business School of the University Institute of Lisbon, and researcher at the Business Research Center (BRU-IUL), Portugal. She holds a PhD in Management from the University of Sydney, Australia. She is editorial board member of the Global Business and Economics Review, managing editor of the International Journal of Management Science and Information Technology, and some of her works have been published nationally and internationally. Her research interests include multiple criteria decision analysis, strategic decision making and consumer behavior.
Ieva Meidutė-Kavaliauskienė
Ieva MEIDUTĖ-KAVALIAUSKIENĖ is an Associate Professor and Vice-Dean at the Faculty of Business Management of the Vilnius Gediminas Technical University, Lithuania. She holds a PhD in Technological Science from the Vilnius Gediminas Technical University. She has authored peer-reviewed papers and some of her works have been presented and published nationally and internationally. She is editorial board member of several international journals and her research interests include logistics and operations management.
Bianca A. C. P. Viana
Bianca A. C. P. VIANA is a bank analyst who works at Caixa Geral de Depósitos (one of the top-five banks in Portugal). Her research interests include marketing, decision making and consumer behavior. Some of her works have been presented in national and international conferences.