IDEAS home Printed from https://ideas.repec.org/a/rbs/ijbrss/v11y2022i6p127-137.html
   My bibliography  Save this article

External exigencies and customer loyalty nexus in Nigeria retail banks

Author

Listed:
  • Olubunmi Obioha

    (Sol Plaatje University)

Abstract

Customer loyalty is crucial in the retail banking sector, given the increasing competition within the industry and the emerging non-traditional players. This paper examines the influence of external exigencies on customer loyalty of retail banks in Nigeria. Data used in this study was collected from 424 customers of eight (8) selected banks located in Ibadan, a metropolitan city in Nigeria. The primary statistical tool used was Partial Least Square Structural Equation Modelling (PLS-SEM) in analysing data collected. The study's findings revealed that external exigencies as a construct, has a positive influence on customer loyalty with internal appearance of bank and attractive advertisement accounting for the main factors contributing to loyalty. Similarly, External Exigencies were found to have positive influence on Customer Loyalty to their banks, at significant level. The managerial implication of this study is the consideration of non-core banking factors that can enhance customer loyalty in retail banking. Key Words:Bank, Customer loyalty, Corporate Governance, Nigeria, Retail Banking

Suggested Citation

  • Olubunmi Obioha, 2022. "External exigencies and customer loyalty nexus in Nigeria retail banks," International Journal of Research in Business and Social Science (2147-4478), Center for the Strategic Studies in Business and Finance, vol. 11(6), pages 127-137, September.
    • Handle: RePEc:rbs:ijbrss:v:11:y:2022:i:6:p:127-137
    DOI: 10.20525/ijrbs.v11i6.1887
    as

    Download full text from publisher

    File URL: https://www.ssbfnet.com/ojs/index.php/ijrbs/article/view/1887/1392
    Download Restriction: no
    File URL: https://doi.org/10.20525/ijrbs.v11i6.1887
    Download Restriction: no
    File URL: https://libkey.io/10.20525/ijrbs.v11i6.1887?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Raj, S P, 1982. "The Effects of Advertising on High and Low Loyalty Consumer Segments," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 9(1), pages 77-89, June.
    2. Deighton, John & Kornfeld, Leora, 2009. "Interactivity's Unanticipated Consequences for Marketers and Marketing," Journal of Interactive Marketing, Elsevier, vol. 23(1), pages 4-10.
    3. Okpara, Gazie S. & Onuoha, Onuoha A., 2013. "Bank Selection and Patronage By University Students: A Survey of Students in Umudike, Nigeria," Asian Business Review, Asian Business Consortium, vol. 2(2), pages 70-76.
    4. E. Grigoroudis & E. Tsitsiridi & C. Zopounidis, 2013. "Linking customer satisfaction, employee appraisal, and business performance: an evaluation methodology in the banking sector," Annals of Operations Research, Springer, vol. 205(1), pages 5-27, May.
    5. Choudhury, Koushiki, 2008. "Service Quality: Insights From The Indian Banking Scenario," Australasian marketing journal, Elsevier, vol. 16(1), pages 48-61.
    6. Sany Sanuri Mohd Mokhtar & Maha Mohammed Yusr, 2016. "Exploring the Antecedents of Customer Loyalty in the Malaysian Retail Sector," International Review of Management and Marketing, Econjournals, vol. 6(3), pages 577-583.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Smith, Andrew N. & Fischer, Eileen & Yongjian, Chen, 2012. "How Does Brand-related User-generated Content Differ across YouTube, Facebook, and Twitter?," Journal of Interactive Marketing, Elsevier, vol. 26(2), pages 102-113.
    2. Doumpos, Michalis & Zopounidis, Constantin & Gounopoulos, Dimitrios & Platanakis, Emmanouil & Zhang, Wenke, 2023. "Operational research and artificial intelligence methods in banking," European Journal of Operational Research, Elsevier, vol. 306(1), pages 1-16.
    3. Byun, Kyung-Ah (Kay) & Duhan, Dale F. & Dass, Mayukh, 2020. "The preservation of loyalty halo effects: An investigation of the post-product-recall behavior of loyal customers," Journal of Business Research, Elsevier, vol. 116(C), pages 163-175.
    4. Webley, Paul & Lewis, Alan & Mackenzie, Craig, 2001. "Commitment among ethical investors: An experimental approach," Journal of Economic Psychology, Elsevier, vol. 22(1), pages 27-42, February.
    5. Ivanete Schneider Hahn & Flavia Luciane Scherer & Kenny Basso & Marindia Brachak dos Santos, 2016. "Consumer Trust in and Emotional Response to Advertisements on Social Media and their Influence on Brand Evaluation," Brazilian Business Review, Fucape Business School, vol. 13(4), pages 49-71, July.
    6. Lucia-Palacios, Laura & Pérez-López, Raúl, 2021. "Effects of Home Voice Assistants' Autonomy on Instrusiveness and Usefulness: Direct, Indirect, and Moderating Effects of Interactivity," Journal of Interactive Marketing, Elsevier, vol. 56(C), pages 41-54.
    7. Bacile, Todd J. & Ye, Christine & Swilley, Esther, 2014. "From Firm-Controlled to Consumer-Contributed: Consumer Co-Production of Personal Media Marketing Communication," Journal of Interactive Marketing, Elsevier, vol. 28(2), pages 117-133.
    8. So, Kevin Kam Fung & Wei, Wei & Martin, Drew, 2021. "Understanding customer engagement and social media activities in tourism: A latent profile analysis and cross-validation," Journal of Business Research, Elsevier, vol. 129(C), pages 474-483.
    9. Edward C. Malthouse & Wei-Lin Wang & Bobby J. Calder & Tom Collinger, 2019. "Process control for monitoring customer engagement," Journal of Marketing Analytics, Palgrave Macmillan, vol. 7(2), pages 54-63, June.
    10. Labrecque, Lauren I., 2014. "Fostering Consumer–Brand Relationships in Social Media Environments: The Role of Parasocial Interaction," Journal of Interactive Marketing, Elsevier, vol. 28(2), pages 134-148.
    11. Jamal Ouenniche & Skarleth Carrales, 2018. "Assessing efficiency profiles of UK commercial banks: a DEA analysis with regression-based feedback," Annals of Operations Research, Springer, vol. 266(1), pages 551-587, July.
    12. Wee Hern Ong & Ho Keat Leng, 2022. "Social Media Marketing Strategies of Football Clubs: Limitations of Social Influence," International Journal of Technology and Human Interaction (IJTHI), IGI Global, vol. 18(1), pages 1-10, January.
    13. Steils, Nadia & Obaidalahe, Zakia, 2020. "“Social food”: Food literacy co-construction and distortion on social media," Food Policy, Elsevier, vol. 95(C).
    14. Dr. Makarand Upadhyaya, 2015. "The Impact of Humorous Television Advertisement in Customer Opinion in Bahrain," Indian Journal of Commerce and Management Studies, Educational Research Multimedia & Publications,India, vol. 6(3), pages 20-25, September.
    15. Ying Li & Yung-ho Chiu & Tai-Yu Lin & Yun Yuan Huang, 2019. "Market share and performance in Taiwanese banks: min/max SBM DEA," TOP: An Official Journal of the Spanish Society of Statistics and Operations Research, Springer;Sociedad de Estadística e Investigación Operativa, vol. 27(2), pages 233-252, July.
    16. Aliasghar Aliakbarzadeh & Akbar Alem Tabriz, 2014. "Performance Evaluation and Ranking the Branches of Bank using FAHP and TOPSIS Case study: Tose Asr Shomal Interest-free Loan Fund," International Journal of Academic Research in Business and Social Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Business and Social Sciences, vol. 4(12), pages 199-217, December.
    17. Prithwiraj Mukherjee & Souvik Dutta & Arnaud De Bruyn, 2022. "Did clickbait crack the code on virality?," Journal of the Academy of Marketing Science, Springer, vol. 50(3), pages 482-502, May.
    18. Zeinab Sazvar & Mahsa Zokaee & Reza Tavakkoli-Moghaddam & Samira Al-sadat Salari & Sina Nayeri, 2022. "Designing a sustainable closed-loop pharmaceutical supply chain in a competitive market considering demand uncertainty, manufacturer’s brand and waste management," Annals of Operations Research, Springer, vol. 315(2), pages 2057-2088, August.
    19. Constantin Zopounidis & Michael Doumpos, 2013. "Multicriteria decision systems for financial problems," TOP: An Official Journal of the Spanish Society of Statistics and Operations Research, Springer;Sociedad de Estadística e Investigación Operativa, vol. 21(2), pages 241-261, July.
    20. Winer, Russell S., 2009. "New Communications Approaches in Marketing: Issues and Research Directions," Journal of Interactive Marketing, Elsevier, vol. 23(2), pages 108-117.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:rbs:ijbrss:v:11:y:2022:i:6:p:127-137. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Umit Hacioglu (email available below). General contact details of provider: https://edirc.repec.org/data/ssbffea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.