Does bonus affect Customer loyalty? Does bonus payments within the Swedish banks affects customer loyalty
(2013)Department of Service Studies
- Abstract
- Customers are of the opinion that they are against performance related bonus payments. They do however not spend their time or effort familiarize themselves with the subject and therefore the majority of them do not know if their customer bank pays out bonuses or not. Therefore it can be safe to say, that the subject of bonus payments is not considered very important when it comes to choosing a customer bank or staying with a customer bank. Factors like, terms and conditions, and aspects that affect the customer directly, are considered more important. When the differences between loyal customers and other customers are looked at, there is a clear difference regarding bonus payments as a reason to switch banks. Less loyal customers... (More)
- Customers are of the opinion that they are against performance related bonus payments. They do however not spend their time or effort familiarize themselves with the subject and therefore the majority of them do not know if their customer bank pays out bonuses or not. Therefore it can be safe to say, that the subject of bonus payments is not considered very important when it comes to choosing a customer bank or staying with a customer bank. Factors like, terms and conditions, and aspects that affect the customer directly, are considered more important. When the differences between loyal customers and other customers are looked at, there is a clear difference regarding bonus payments as a reason to switch banks. Less loyal customers considered bank bonuses a reason to switch banks, even though the gap between groups was not very big. Therefore it can be said that banks bonuses do affect loyalty. However loyal customers are not as sensitive for bank bonuses as the everyday customer. (Less)
Please use this url to cite or link to this publication:
http://lup.lub.lu.se/student-papers/record/3346868
- author
- Thorsteinsdottir, Heidrun
- supervisor
- organization
- year
- 2013
- type
- H1 - Master's Degree (One Year)
- subject
- keywords
- customer loyalty, performance-related pay, loyalty, bank, service sector, bonus, service loyalty
- language
- English
- id
- 3346868
- date added to LUP
- 2013-01-02 00:00:00
- date last changed
- 2018-10-18 10:25:25
@misc{3346868,
abstract = {{Customers are of the opinion that they are against performance related bonus payments. They do however not spend their time or effort familiarize themselves with the subject and therefore the majority of them do not know if their customer bank pays out bonuses or not. Therefore it can be safe to say, that the subject of bonus payments is not considered very important when it comes to choosing a customer bank or staying with a customer bank. Factors like, terms and conditions, and aspects that affect the customer directly, are considered more important. When the differences between loyal customers and other customers are looked at, there is a clear difference regarding bonus payments as a reason to switch banks. Less loyal customers considered bank bonuses a reason to switch banks, even though the gap between groups was not very big. Therefore it can be said that banks bonuses do affect loyalty. However loyal customers are not as sensitive for bank bonuses as the everyday customer.}},
author = {{Thorsteinsdottir, Heidrun}},
language = {{eng}},
note = {{Student Paper}},
title = {{Does bonus affect Customer loyalty? Does bonus payments within the Swedish banks affects customer loyalty}},
year = {{2013}},
}