Premium Essay

Factors Affecting Brand Loyalty Among Small Scale Savers (a Case Study Bank)

In: Business and Management

Submitted By gshakur
Words 11498
Pages 46
FACTORS AFFECTING BRAND LOYALTY AMONG SMALL SCALE SAVERS
(A Case Study Bank)

ABSTRACT

The purpose of the study was to find out the factors affecting brand loyalty among small scale savers. This was a descriptive sample survey which targeted 100 customers of Equity bank Nairobi.

The specific objectives of this study were to establish who loyal customers to Equity are, to determine the factors that make the customer satisfied, to examine how awareness work to help brand loyalty and to determine what factors need to be improved to increase customer satisfaction in Equity Bank.

A questionnaire was used as an aid for data collection where both open ended and closed ended questions were used to collect qualitative data respectively. Data was analyzed using descriptive statistics presented in tables and charts.

The results of the study revealed that Equity clients are generally satisfied with the company. However this satisfaction seems to have an effect on the number of clients who are willing to repurchase or re-patronize Equity products. In effect, the more satisfied customers are, the more loyal they are likely to be. In a highly competitive industry like banking, loyalty is everything. Loyalty facilitates positive word of mouth about the company. Loyalty has also had a positive effect on the bottom line of Equity Bank. Although the increase in profits year in year out has been below the targeted, it is in the right direction. One major factor of concern that needs to be looked at by the organization is the issue of pricing which seems to be a main point of contention.

About seventy-five percent (75%) of the respondents are satisfied with the overall service of Equity. A similar percentage feels that Equity deserves their loyalty; an indication of the correlation between customer satisfaction and loyalty.
Therefore this study recommends that the…...

Similar Documents

Premium Essay

Factors Affecting High Employee Turnover Among the Janitors

...A STUDY OF FACTORS AFFECTING HIGH EMPLOYEE TURNOVER AMONG THE JANITORS AT ABC COMPANY Chamalie Ahangama Withanage B.Sc (Hons) Facilities Management University of Moratuwa a.w.chamalie@gmail.com Sri lanka Institute of Personnel Management Acknowledge ments Acknowledgements This research is accomplished to be indebted much dedication and admiration of many people who have contributed in numerous ways. I express my gratitude to each and every individual for their encouragement, values and ideas, assistance and especially their commitment towards this research to make it a success. First and most respectively, I am greatly indebted my supervisor, Mr.Mahendra Silva for the given interest, encouragement, gentle guidance and support offered through out of this study. I extend my sincere thanks to Mr. Suneth Hitihamu for his interest, encouragement and the guidance towards this work as research coordinator. It is my foremost duty to pay my gratitude to Head, Air Vice Marshal Rohitha Ranasinghe and all other staff members of IPM for the endorsement they gave me during the final year as well as during the research period. Also another word of thanks must go to all non academic staff members of the IPM for valuable help given whenever I required. I express my indebtedness to all participants in the survey for their encouragement, contribution, values and ideas, valuable assistance and especially their commitment towards this research and the valuable...

Words: 12604 - Pages: 51

Premium Essay

Assessment of the Factors Influencing the Performances of Small Scale Eniterprises

...AN ASSESSMENT OF FACTORS INFLUENCING PERFORMANCE OF SMALL SCALE ENTERPRISES IN UGANDA: A CASE STUDY OF KITGUM TOWN COUNCIL BY AYOO ESTER ESO9BO5/028 DISSERTATION SUBMMITTED TO FACULTY OF BUSINESS AND ADMINISTRATION IN PARTIAL FULFILLMENT OF THE AWARD OF A BACHELORS DEGREE IN BUSINESS ADMINISTRATION OF UGANDA CHRISTIAN UNIVERSITY May 2012 DECLARATION I Ayoo Ester do solemnly declare to the best of my knowledge and ability that this Dissertation was prepared by me and never has it been presented to Uganda Christian University or any other institution of higher learning for the award of a degree. Signature………………………….Date………………… AYOO ESTER ESO9BO5/O28 i APPROVAL This research report has been submitted for examination with my approval as the candidate’s supervisor. Sign................................... Mrs Nsiyona Elsie The University supervisor Date.................... ii DEDICATION I dedicate my Research proposal to my beloved Daddy Mr. ORYEMA HENRY MILLY, my Uncle Mr. ONEKALIT KENNTH OBITO, My Mum, my dear friends Brenda, Sharon, Beatrice, Jackie, Dick, Gilbert, Julius, Allan, Moreen, Alex, Odong and also my sisters and brothers for their love and support, who in one way or the other supported me morally, physically, materially and financially in ensuring that my future is a success. May GOD......

Words: 2664 - Pages: 11

Premium Essay

Factors Affecting the Demand of Smartphone Among Young Adult.

...International Journal on Social Science Economics & Art Conceptual Paper: Factors Affecting the Demand of Smartphone among Young Adult. Mei Min, Chow1, Ling Hong, Chen2, Jian Ai, Yeow3, Pei Wah, Wong4 1,2,3 Faculty of Business & Law, Multimedia University (MMU), 75450, Bukit Beruang, Melaka, Malaysia. E-mail: mmchow@mmu.edu.my; lchen.hong@gmail.com; jayeow@mmu.edu.my 4 Centre for Diploma Programmes, Multimedia University (MMU), 75450, Bukit Beruang, Melaka, Malaysia. E-mail: pwwong@mmu.edu.my Abstract— The term ‘Smartphone’ has commonly discussed among young adult especially students from higher learning institutional. Cell phone has becoming a part of their life-tool eventually. Young adult eventually used their phone to communicate with people, alarming themselves from few reminders, direct ways, downloading songs and games, texting messages and more. According to Rice and Katz (2008), the cell phone can be said as a social medium that developing into a multimedia digital platform which has the ability to provides, obtains, and shares personal and social information. However, the market eventually has a higher technology which is called Smartphone. Several industries have hurriedly espoused mobile devices, such as personal digital assistants (PDAs) which have the capabilities of integrating wireless connections and mobile devices that auxiliary pushed the demand effectively in every industry by having a new buzzword, “Smartphone,” illustrates this popular......

Words: 5574 - Pages: 23

Premium Essay

Metro Bank Case Study

...Case Study Metro Bank Breaking the Mould but Breaking the Malaise? An assessment of whether Metro Bank, with its distinct model, can bring about a cultural revolution in the UK banking market Authors: Ben Robinson & Thomas Krommenacker As the first new entrant in the UK banking market for over 100 years, Metro Bank is generating plenty of headlines…. UK’s Metro Bank beats target on new accounts Metro Bank works magic on customers Does the first new British bank since the 1800s herald the start of new competition for your money? the established players, despite blotted copybooks, are deeply entrenched ... the barriers to entry are formidable Metro Bank a fascinating case study in what customers really want Metro Bank model backed by banking commission Metro bank opens on Sunday as battle for high street hots up Metro Bank Speeds Growth The UK’s newest bank must show a genuinely creative side beyond the promotional gimmicks dispensed at the opening of the first branch Banking revolution or the emperor’s new clothes? … a challenge to the tarnished incumbents is long overdue. But its American-style “fun” marketing may not be enough to win over jaded British account holders Metro: first bank for 100 years opens its doors. Metro Bank has promised to revolutionise the British banking experience. Temenos Case Study Contents 01 02 Executive Summary History and Background of the UK Banking Market • The Market Today • Consumer......

Words: 8376 - Pages: 34

Premium Essay

Factors Affecting the Customer Satisfaction in E

...FACTORS AFFECTING THE CUSTOMER SATISFACTION IN E-BANKING: SOME EVIDENCES FORM INDIAN BANKS Abstract This study evaluates major factors (i.e. service quality, brand perception and perceived value) affecting on customers’satisfaction in e-banking service settings. This study also evaluates influence of service quality on brand perception, perceived value and satisfaction in e-banking. Required data was collected through customers’ survey. For conducting customers’ survey likert scale based questionnaire was developed after review of literature and discussions with bank managers as well as experts in customer service and marketing. Collected data was analyzed using principle component (PCA) using SPSS 19.0. A result indicates that, Perceived Value, Brand Perception, Cost Effectiveness, Easy to Use, Convenience, Problem Handling, Security/Assurance and Responsiveness are important factors in customers satisfaction in e-banking it explains 48.30 per cent of variance. Contact Facilities, System Availability, Fulfillment, Efficiency and Compensation are comparatively less important because these dimensions explain 21.70 percent of variance in customers’ satisfaction. Security/Assurance, Responsiveness, Easy to Use, Cost Effectiveness and Compensation are predictors of brand perception in e-banking and Fulfillment, Efficiency, Security/Assurance, Responsiveness, Convenience, Cost Effectiveness, Problem Handling and Compensation are predictors of perceived value in e-banking.......

Words: 5273 - Pages: 22

Premium Essay

Brand Loyalty

...www.ccsenet.org/ijms International Journal of Marketing Studies Vol. 3, No. 2; May 2011 The Influence of Brand Loyalty on Cosmetics Buying Behavior of UAE Female Consumers Dr. Hamza Salim Khraim Marketing Department, Faculty of Business Middle East University, Amman, Jordan E-mail: hkhraim@meu.edu.jo Received: January 24, 2011 Abstract The worldwide annual expenditures for cosmetics is estimated at U.S. $18 billion, and many players in the field are competing aggressively to capture more and more markets. The purpose of this article is to investigate the influence of brand loyalty on cosmetics buying behavior of female consumers in the Emirate of Abu Dhabi in the UAE. The seven factors of brand loyalty are brand name, product quality, price, design, promotion, service quality and store environment. Questionnaires were distributed and self-administered to 382 respondents. Descriptive analysis, one-way ANOVA and Pearson Correlation were used in this study. The findings of this study indicated that brand name has shown strong correlation with brand loyalty. The research results showed that there is positive and significant relationship between factors of brand loyalty (brand name, product quality, price, design, promotion, service quality and store environment) with cosmetics brand loyalty. Keywords: Female buying behavior, Brand loyalty, Cosmetics, UAE 1. Introduction The history of cosmetics spans at least 6,000 years of human history, and almost every society on......

Words: 6729 - Pages: 27

Free Essay

Factors Affecting Study Habits

...low-explosivity lava-fountaining that forms cinder cones and spatter cones at the vent.  Famous shield volcanoes can be found for example in Hawaii (e.g.    A cinder cone is a steep conical hill formed above a vent.  Cinder cones are among the most common volcanic landforms found in the world.  They aren't famous as their eruptions usually don't cause any loss of life.  Cinder cones are chiefly formed by Strombolian eruptions.  The cones usually grow up in groups and they often occur on the flanks of strato volcanoes and shield volcanoes.  Cinder cones are built from lava fragments called cinders.  The lava fragments are ejected from a single vent and accumulate around the vent when they fall back to earth. Cinder cones grow rapidly and soon approach their maximum size.  They rarely exceed 250m in height and 500m in diameter. The shape of a cinder cone can be modified during its (short) life.  When the position of the vent alters, aligned, twin or secant cones develop.  Nested,buried or breached cones are formed when the power of the eruption varies.    A great example of a cinder cone is Paricutín in Mexico. Spatter Cone. - When hot erupting lava contains just enough explosive gas to prevent the formation of a lava flow, but not enough to shatter it into small fragments the lava is torn by expanding gases into fluid hot clots, ranging in size from 1cm to 50cm across, called spatter. When the spatter falls back to Earth the clots weld themselves together and solidify......

Words: 3377 - Pages: 14

Premium Essay

Factors Affecting Study Habit

...Volume 17, 2014 ISSN: 2165-1019 Approved December 17, 2013 www.ala.org/aasl/slr Factors Affecting Students’ Information Literacy as They Transition from High School to College Jana Varlejs, Professor Emerita, Rutgers, 612 S. First Avenue, Highland Park, NJ 08904, 732846-6850 Eileen Stec, Instruction & Outreach Librarian, Douglass Library, Rutgers, New Brunswick, NJ 08901, 848-932-5009 Hannah Kwon, PhD Student, Rutgers SC&I, New Brunswick, NJ 08901 Abstract Despite the considerable attention paid to the need to increase the information literacy of high school students in preparation for the transition to college, poor research skills still seem to be the norm. To gain insight into the problem, library instruction environments of nineteen high schools were explored. The schools were selected based on whether their graduates did well or poorly on information-skills assignments integrated in a required first-year college course. The librarians in the nineteen schools were asked to characterize their working relationships with teachers, estimate their students’ information-literacy achievement, and provide data on their staffing and budgets. Findings suggest that school librarians are seldom in a position to adequately collaborate with teachers and that their opportunities to help students achieve information literacy are limited. Introduction The study reported in this paper was inspired by observations made by students in the Master’s in Library and Information......

Words: 10936 - Pages: 44

Premium Essay

Factors Affecting Study Habit Among Secondary School Students

...CHAPTER ONE 1.0 INTRODUCTION 1.1 BACKGROUND TO THE STUDY In the era of globalization and technological revolution, education is considered as a first step for every human activity. It plays a vital role in the development of human capital and is linked with an individual well-being and opportunities for better living. It ensures the acquisition of knowledge and skills that enable individual to increase their productivity and improve their quality of life. Success as the name implies is wished for by everybody but it is not easily come by on a mere platter of gold; one must work for it through hard work and diligence. Afe (2000), Education is considered as a tool to be used for the integration of the individual into the society to achieve self-realization, develop national consciousness, promote unity, and strive for social, economic, political, scientific, cultural and technological progress. Education in science and Mathematics therefore becomes bedrock and indispensable tools for scientific, technological and economic advancement in any nation. It gives the nation the capacity to apply technology for the exploitation of the resources of nature. Such exploitation will depend greatly on Mathematics for laying the foundation for political, governmental, military, civil, scientific, technological advancement, economic development, socio-cultural and environmental peace. Obe (1996) conceptualizes Mathematics as the master and......

Words: 2150 - Pages: 9

Premium Essay

Brand Loyalty

...and objectives The consumer brand relationship depends on largely on the successful establishment of the brand meaning. In highly competitive markets brand loyalty generates numerous benefits like erecting barriers to competitors, generating greater sales and revenues, reducing customer acquisition costs, and inhibiting customers' susceptibility to marketing efforts of competitors (Knox and Walker, 2001; Rundle-Thiele and Mackay, 2001). The primary objective of this research is to select three brand loyalty influences (from the twelve) in the article by Moola and Bisschoff (2014) then motivate why the three can be grouped together logically. The secondary objectives are to: * Expand on Moolla's questions by doing a literature study on three brand loyalty influences selected.   * Select a company / product of choice to apply questionnaire to * Analyse the data at least on inferential statistical level * Indicate expected outcomes the results will provide * Interpret the results and write a short report on what the data tells you * Apply result to management and managerial decision-making to show the advantage of the analysis. Figure 1.1: The conceptual model Adapted from Moolla (2010:197) 1.2 Hypotheses The following hypotheses were tested in order to assist in meeting the research objectives: H1: There is a relationship between customer satisfaction and customer trust when purchasing a home appliance brand. H2: There is a......

Words: 7148 - Pages: 29

Premium Essay

Factors Affecting the Study Habits Among the Maritime Students

...happening at home. Ask the teacher about homework and alert her to any specific problems... View Full Essay Join Now Please login to view the full essay... Essay's Statistics Submitted by: 0522127 Date shared: 07/12/2011 10:03 PM Words: 354 Pages: 2 Save Paper Report this Essay Similar Documents Factors Affecting The Study Habit Of Rshs Students Sy 2009 - 2010 Study Habits Study Habits Study Habits Chapter 2 In Study Habits Academic Performance Related To Study Habits Study Habits Study Habits Thesis About Study Habits Factors Affecting The Study Habits Of Students In Cnhs Study Habits The Effects Of Malls Near Schools To The Study Habits Of 4Th Year High School Students In St. Louis School-Catherina Cittadini In The School Year 10-11” Study Habits Study Habits Of Fourth Year Students Of Kakawate High School Study Habits Of Fourth Year High School Students Of Asu Laboratory High School Study Habits Study Habits And Skills Affecting Academic Achievement Factors That Affects Study Habits Of Students In Jpnhs Study Habits Thesis About Study Habits...

Words: 492 - Pages: 2

Premium Essay

Brand Loyalty

... EKONOMSKI FAKULTET U SARAJEVU [pic] BRAND LOYALTY GRAD PAPER CONTENTS: BRAND LOYALTY 1 CONTENTS: 2 INTRODUCTION 3 The concept and definition of Brand 4 Brand Building Activities 6 Brand Loyalty 7 The definition of Brand Loyalty 7 The concept of Brand Loyalty 10 Factors of brand loyalty 20 1.Brand awareness 21 2.Perceived quality 21 3.Brand personality 22 4.Brand identity 22 Brand equity 24 MEASURES OF BRAND LOYALTY 25 Conclusion: 34 REFERENCES: 35 NOTES: 36 Abstract: Even though the number of brands has strongly increased in recent years, only a few managed to endow themselves with significant brand loyalty. Besides the actual proprietary brand assets, such as patents and trademarks, other major elements like brand loyalty, perceived quality, brand associations, and others, underlie brand equity. A successful brand strategy must be based on creating brand loyalty. For achieving this goal consumers must be classified on a loyalty basis, while marketing strategies and mixes must be shaped accordingly. INTRODUCTION The success of a firm depends largely on its capability to attract consumers towards its brands. In particular, it is critical for the survival of a company to retain its current customers, and to make them loyal to the brand. Brand loyal consumers reduce the marketing costs of the firm as the costs......

Words: 14383 - Pages: 58

Premium Essay

Consumer Control Brings Brand Loyalty to Bank of America

...Bank of America's foray into mobile banking is more than a gimmick, and its iPhone application is more than just a reason to issue a press release. Underlying all of the marketer's moves into mobile services and marketing is a key insight: Give people more control over their banking on their own terms, and you'll win their loyalty. BofA is one of a small but growing group of marketers that have figured out that mobile marketing isn't about advertising. That's not to say mobile advertising will play no part, but that mobile, like most things digital, is not a channel so much as a way consumers live their lives and, consequently, a way marketers have to conduct their business. The biggest U.S. bank launched its mobile website in 2007, becoming one of the first major U.S. banks to invest in the platform, to position it to take advantage of the next frontier: mobile transactions. BofA was the first to launch an iPhone banking application, today the handset's most-downloaded financial app. With more than 2 million of its 59 million customers using its mobile banking application, Bank of America can lay claim to having the highest adoption rate of mobile-banking usage among its competitors. Between 8% and 10% of the bank's mobile-banking customers are new to the bank, suggesting that mobile was an influence in their decision to choose the bank. The payoff has made a "material impact on customer satisfaction," said Douglas Brown, senior VP-mobile product development, declining......

Words: 363 - Pages: 2

Premium Essay

Factors Affecting Study Habits

...Factors affecting the study habits of students? Bibliography Books Brown, Donald, et al. (1994). Student Motivation, Cognition, and Learning: Essays in Honor of Wilbert J. McKeachie. Hillsdale, NJ: Lawrence Erlbaum Associates. Heermance, E. (1924). Codes of Ethics: A Handbook. Burlington, VT: Free Press Printing. Shiffrin, R. M., & Dumais, S. T. (1981). The development of automatism. In J. R. Anderson (Ed.), Cognitive skills and their acquisition (pp. 111-140). Hillsdale, NJ: Lawrence Erlbaum Associates. Journal Bettman, J., Johnson, E., & Payne, J. ( 1990). A componential analysis of cognitive effort in choice. Organizational Behavior and Human Decision Processes, 45, 111-139. Carnine, D. (1989). Designing practice activities. Journal of Learning Disabilities, 22, 603-607. Fagley, N. S. (1988). Judgmental heuristics: Implications for the decision making of school psychologists. School Psychology Review, 17, 311-321. Tversky, A., & Kahneman, D. (1983). Extensional versus intuitive reasoning: The conjunction fallacy in probability judgment. Psychological Review, 90, 293-315. Magazine Clinchy, E. (1997, December 22). Bashing American schools: how the print and visual media all too often misunderstand, misrepresent and thereby misreport and severely damage our American system of public education. Nieman Reports. Harris, P. (1995, July 1). Short-term/long-term dilemmas. (the conflict between short- and long-term goals). Management......

Words: 371 - Pages: 2

Premium Essay

Brand Loyalty Among the People of Pokhara

...products with the help of brand rather than by inspection of the products. It means successful marketing of product means successful marketing of the brand of that product, moreover, every manufacturer or producer or marketer always seeks to get positive attitude towards the brand of his product. “A product is anything that can be offered to market to satisfy a want or need. After producing a product we should give the identification of the product for this brand is used to identify the product. Branding constitutes an important part of product. So building brands require a great deal of time, money, promotion and packaging. A brand is a name or mark intended to identify the product of one seller or group of sellers and differentiate the product from competing produces.” (Kotler: 2002) 1.2 Focus of the Study Brand encourages repeat purchase of products. This promotes brand loyalty among customers. Organizations can achieve stable market share. They get protrusion from competition and greater control in planning the marketing mix. They decrease importance of price. Success of an industry is the main function of successful marketing of its products. In an era of cutthroat competition, successful marketing of products demand on understanding of consumer’s taste, preferences and loyalty. Following are the importance of study: - I. The manufacturer or marketers of the Pokhara will be highly benefited by this study. They may use the finding of the study as the guideline for......

Words: 2006 - Pages: 9