Browsing by Author "Andonian, Raphael G."

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    The Impact of Positive Customer Experiences on Customer Loyalty in the Lebanese Retail Banking Sector
    (2013) Andonian, Raphael G.
    The literature shows that great customer experiences can build and sustain loyalty, which, in turn, improves profitability, market share, sales and growth. Thus, it was important to test if positive customer experience impacts loyalty in the Lebanese retail banking sector, a sector considered as highly competitive. In addition, the paper aimed at showing whether there was a significant difference in loyalty and in customer experience between the group of people dealing with a single bank and the group of people dealing with many banks. Finally, customer experience was compared between people of different levels of loyalty, namely the promoters, the neutrals, and the detractors. The statistical analysis showed that loyalty was slightly higher in the group of people dealing with one bank. However, this difference was not significant. Overall, Customer Experience was not significantly different between people dealing with a single bank, and people dealing with more than one bank. Among all the components of Customer Experience, 60% had higher means in the group of people dealing with one bank, of which, 16% significantly higher and 44% slightly higher. Moreover, Customer Experience was in some aspects significantly different between groups of Promoters, Neutrals and Detractors, while in other aspects, it wasn’t. Among all components of Customer Experience, 73.7% had the highest means in the Promoter group, which is the group of strongly loyal customers. On the other hand, the study showed that among all the components of Customer Experience, being proud of the bank’s reputation and ads, never having considered switching the bank, and feeling that the bank cares about building a long-lasting relationship were the most significant in predicting an increase in loyalty. Combining these findings, we concluded that positive experiences have positive impacts on loyalty in the Lebanese retail banking sector.