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The respondents agreed most strongly with the statements “My relationship with my bank depends on whether it is flexible in serving my needs as a customer” (mean = 5.47) and “My relationship with my bank depends on whether it is willing to offer personalised services to meet my needs as a customer” (mean = 5.35). Respondents agreed the least with the statement “My bank is willing to invest in maintain relationships with its customers “(mean = 4.61).
TABLE 5: COMMITMENT STATEMENTS Statements
My relationship with my bank depends on whether it is flexible in serving my needs as a customer
My relationship with my bank depends on whether it is willing to offer personalised services to meet my needs as a customer
My relationship with my bank depends on whether it makes adjustments to suit my needs
My relationship with my bank depends on whether it is flexible when its services are changed
I am very committed to my relationship with my bank My bank is willing to invest in maintain relationships with its customers
Mean Std. Deviation 5.47
1.132 5.35 5.32 5.14
4.71 4.61
1.168 1.348 1.356
1.457 1.583
Customer loyalty
Table 6 provides the standard deviations and mean scores for the level of agreement respondents indicated regarding the influence of relationship building on customer loyalty. Respondents agreed most strongly with the statements “My loyalty to my bank depends on whether it understands my needs as a customer” (mean = 5.90) and “My loyalty towards my bank depends on my relationship with it” (mean = 5.67). Respondents agreed the least with the statement “My bank's customer loyalty will increase if its interaction with customers increases” (mean = 5.14).
TABLE 6: CUSTOMER LOYALTY STATEMENTS Statement
My loyalty to my bank depends on whether it understands my needs as a customer
My loyalty towards my bank depends on my relationship with it I conduct all my banking affairs at my bank
I am satisfied with my relationship with my bank and will remain in the relationship
I will recommend my bank to friends and acquaintances
It is important for me that my bank measures customer satisfaction on a regular basis
My bank will have satisfied clients, if it has extensive relationships with its clients
My bank’s customer loyalty will increase if its interaction with customers increases
Mean Std. Deviation 5.90
.996
5.67 5.61 5.23
5.20 5.19
5.17 5.14
1.224 1.461 1.246
1.396 1.268
1.344 1.330
Influence of the selected variables on customer loyalty
Concerning the first research objective, multiple regression analysis was used to explain the relationship between the independent variables of trust, commitment and the dependent variable of customer loyalty.
THE INFLUENCE OF TRUST AND COMMITMENT ON CUSTOMER LOYALTY – AN APPLICATION TO THE FOUR MAJOR BANKS AND CAPITEC BANK