Analyzing factors that affect customer loyalty in retail banking: The case od BIDV Ben Thanh branch

Abstract

Vietnam’s economy is more and more developing which creates more changes to gain success and competition for the finance market in general and the banks in particular. The banks force to innovate continuously to gain the market share. Meanwhile, the customer loyalty becomes the main key to achieve the success in business. The general purposes of this study are to find out the factors to impact on the customer loyalty and how to improve them in BIDV Ben Thanh branch. To achieve this objective, my study was reviewed the literatures from related theories and researchers. The SERVQUAL model, which was developed by Parasuraman et al., (1988), consisted of five dimensions such as tangibility, reliability, responsiveness, assurance and empathy to measure the service quality and customer loyalty that was applied on my study. This study adopted a quantitative approach to the research. Data were collected through distributing questionnaires to customers’ BIDV Ben Thanh. After that, the answers of respondents were coded and analysed by the SPSS software. The main outcome of the study will help the researcher giving out some recommendations to improve the customer loyalty in BIDV Ben Thanh branch. Keywords: customer loyalty, SERVQUAL model, BIDV Ben Thanh branch.