Electronic Banking; a New Strategy to Create Customers’ Loyalty to Investment and Its Impact on Economic Initiatives

Document Type : Original Research

Authors

1 Dean of Tax Applied Sciences University and Khorasan Razavi Tax Organization, Mashhad, Iran

2 Invited Lecturer, Tax Applied Sciences University, Mashhad, Iran

Abstract

With technology development and the market conditions getting more competitive in different production and service sectors, loyal customer is considered as main capital of every organization. The expansion of internet global network has brought many benefits to all organizations including banks which along with considerable issues arise. Special equity of services including investment which became an important concept in marketing since 1980 is in fact the added value generated for the organization by using that service. The purpose of this research is to explain the loyalty of customers to investment through using electronic banking services in order to participate in advancing the economic projects, and also to empirically test whether this is related to trust in investment and investment special equity. Statistical population consists of customers of Saman bank in Mashhad city who have substantial account balance and are able to invest in economic projects suggested by bank. And their satisfaction with electronic banking services was investigated through random sampling. Needed information was collected using a questionnaire and correlations of variables were tested by means of Pearson correlation test and multiple regression. Analysis of the study findings using SPSS 16 shows that there is a positive correlation between trust in investment and investment special equity with customers’ loyalty to investment in economic projects by bank through using electronic services. And trust in investment and investment special equity are significantly related to two types of loyalty (attitudinal loyalty and behavioral loyalty).

Keywords

References

Adam, S. (2008), “Web Banking in USA”. Internet Banking and Commerce, Vol. 3, NO. 2(June).
Arasli, H., (2002),"Diagnosing whether northern Cyprus hotels are ready for TQM: an empirical analysis", Total Quality Management, Vol. 13 No. 3, pp. 347-64.
Baloglu, S., (2002),"Dimensions of customer loyalty: separating friends from well-wishers", Cornell Hotel & Restaurant Administration Quarterly, Vol. 43, pp. 47- 59.
Bennett, R., Hartel, C.E.J. and McColl- Kennedy, J.R., (2005), "Experience as a moderator of involvement and satisfaction on brand loyalty in a business-to-business setting 02- 314R", Industrial Marketing Management, Vol. 34, pp. 97-107.
Chaudhuri, A. and Holbrook, M.B., (2001), “The chain of effects from brand trust and brand affect to brand performance: the role of brand loyalty”, Journal of Marketing, Vol. 65 No. 2, pp.81-93.
Haghighat Khah, A. (2011), investigating the problems of EC expansion in Iran, Tehran, Institution of business studies and researches.
Harris, Lisa & Spence, Laura, The Ethics of eBanking, Journal of Electronic Commerce Research, VOL. 3, NO. 2, 2011.
Hashemi, M., (2008), “A review of Electronic Payment Security”, Tehran, Economic reviews and planning deputy of Ministry of Commerce.
Heikki, A. (2007), “The fourture of Banking in America: The Effect on U.S. Banking of Payment System Changes”, FDIC BANKING REVIEW. Vol. 16, No. 2.
Heydarzade, H. (2008), Loyalty to the Brand as a Tactical Model, Tadbir Magazine, Vol. 64
Hosseini, M., (2009), Electronic Banking in Iran, series of papers for global conference of Electronic and Internet cities, Kish Island, 11-13
Kahzadi, N. (2010), Electronic Banking In Iran and The World,” Series of papers for the conference of Electronic Commerce, Tehran, Business publications company.
Keller, K.L., (1998), “Strategic Brand Management: Building, Measuring, and Managing Brand Equity”, Prentice Hall, Upper Saddle River, NJ.
Matzler K., Grabner S., (2010), "Risk aversion and brand loyalty: the mediating role of brand trust and brand affect", Journal of Product & Brand Management, Vol. 17, No.3, pp. 154-162.
Meller J.J., Hansan, T. (2009), "An Empirical examination of service loyalty about E-Banking" Journal of Product & Brand Management, Vol.15, No.7, pp. 442-49.
Melnz, S.A., Celuch, K. and Goodwin, S., (2004),”The importance of brand equity to customer loyalty”, Journal of Product & Brand Management, Vol.13, No .4, pp. 217-227.
Morgan, R.P., (2000), “A consumer-oriented frameworks of brand equity and loyalty”, International Journal of Market Research, Vol. 42 No. 1 pp. 65-78.
Oliver, R.L., (1999), “Whence consumer loyalty?” Journal of Marketing, Vol. 63, Special Issue, pp. 33-44.
Punniyamoorthy, M. and Prasanna Mohan, R.M., (2007), “An empirical model for brand loyalty measurement”, Journal of Targeting, Measurement and analysis for Marketing, Vol.15, No.4, pp.222-233.
Rahmani, F.(2000), “Information Technology Infrastructure; primary concepts of information systems,” Electronic Industries
Vijayan, P. (2010), “Service Quality Evaluation of Internet Banking in Malaysia”. From: http://www.arraydey.Commerce/JIBC/0306-06.htm.

Files

Share

How to cite

Statistics