Research Article Analysis: Customer Satisfaction and loyalty

By

[Name of the Institute]

INTRODUCTION3

AIMS AND OBJECTIVES3

RESEARCH METHODOLOGY3

Research Philosophy4

Research Approach4

Research Design5

STRENGTH OF THE RESEARCH METHOD6

LIMITATION OF THE RESEARCH METHOD7

RELIABILITY ISSUES7

VALIDITY ISSUES8

CONCLUSION9

REFERENCES10

Introduction

This paper uses the study by Keisidou et al. (2013) titled Customer satisfaction, loyalty and financial performance, a holistic approach of the Greek banking sector. This paper will facilitate not only the understanding of how customer satisfaction relate to customer loyalty, but it will also provide a detailed view of the methodological feasibility of the study.

Aims and Objectives

This research aims at identifying the factors that contribute to customer satisfaction and loyalty in the Greek banking sector. The significance of customer satisfaction is extensively studied with a focus of knowing how customer satisfaction and loyalty interact in the banking industry. The main aspects selected to be studied in this research are convenience economics, tangibles, image, relational quality, customer satisfaction, customer loyalty, brand credibility and them financial performance of the banks. The study also aims to provide an insight into the Greek banking sector and the association among the investigated aspects in the context of how loyalty and satisfaction can be enhanced through the above identified factors.

Research Methodology

A quantitative survey methodology was adopted by this study. The key aspects of research approach and execution are given as follows:

Research Philosophy

The research adopted positivism. Seiders et al (2000: p.82) state that “positivism is a philosophy of science which is based on the view that data deducted from the mathematical and logical treatment is the exclusive source of all the authoritative knowledge and this data is valid in terms of scientific knowledge”. This philosophy was feasible for the study because the research tried to development an association between customer satisfaction and loyalty systematically (Bernard 2013). These variables were then related to the performance of banks to further test the hypothesis in light of existing theory. The research could also have focused on relativism to have observations of the phenomenon.

Research Approach

The research used deductive method which is a scientific method to get general conclusions from particular premises (Onwuegbuzie et al 2011). This approach was most suitable to the objectives since it provided the researcher to develop hypothesis based on the research objectives (Bryman 2004). This study provides a good background to test the model when the economy of Greece becomes more stable. This will provides accurate results of the stated hypothesis, this research provide an innovative extended model that involved the influence of customer satisfaction and loyalty on banks profitability. According to Niglas (2004: p.102), “one way to carry out the deductive method is using various observations of events or objects in their natural state, which supports in making a conclusion that it is generally for all events of the same class”.

Research Design

The survey used primary quantitative research method as a research approach. Quantitative research is collecting, processing and analysing quantitative or numerical data on predetermined variables (Onwuegbuzie et al 2009). The research carried out a survey in the banking sector in Greece so as to collect data ...