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Influence of trust on customer loyalty TABLE 7: INFLUENCE OF TRUST ON CUSTOMER LOYALTY
INDEPENDENT VARIABLE TRUST
Framework Sum of Squares Regression 24.634 Residual Total
118.506 143.139 R2
0.415
Framework Standardised coefficients, Beta T (Constant) Trust
3.063 0.399
Sig.
9.840 0.000 7.547 0.000
Table 7 indicates that trust exerted a statistically significant positive influence on the dependent variable customer loyalty (p<0.05). The researchers relied on a 95% level of confidence, therefore a p-value of less than or equal to 0.05 implied that it is highly unlikely that the results are due to chance alone according to the Independent Sample T-test. More specifically, the relationship between trust and customer loyalty is significant at p = 0.00. The independent variable in the multi-regression analysis explained 41.5% of the variance (R squared) in the dependent variable of customer loyalty. This implies that 41.5% of a positive change in the level of loyalty in banks in Gauteng is caused by trust. Table 7 further indicates that one unit increase in trust will increase customer loyalty by 39.9% when considering Beta.
Given the above findings it can be concluded that hypothesis 1 which states that there is a positive relationship between trust and customer loyalty within the banking sector of Gauteng can be
accepted and the null hypothesis should be rejected. Influence of commitment on customer loyalty TABLE 8: INFLUENCE OF COMMITMENT ON CUSTOMER LOYALTY
Framework Sum of Squares 49.137 90.692
Regression Residual Total
139.829 R2
0.593
Framework (Constant)
Standardised coefficients, Beta T 2.612
Commitment 0.537 Sig.
11.227 0.000 12.050 0.000
Table 8 indicates that commitment exerted a statistically significant positive influence on the dependent variable customer loyalty (p<0.05). The researchers again relied on a 95% level of confidence, therefore a p-value of less than or equal to 0.05 implied that it is highly unlikely that the results are due to chance alone according to the Independent Sample T-test. More specifically, the relationship between commitment and customer loyalty is significant at p = 0.00. The independent variable in the multi-regression analysis explained 59.3% of the variance (R squared) in the dependent variable of customer loyalty. This implies that 59.3% of a positive change in the level of
THE INFLUENCE OF TRUST AND COMMITMENT ON CUSTOMER LOYALTY – AN APPLICATION TO THE FOUR MAJOR BANKS AND CAPITEC BANK