Empirical Research Of Customer Loyalty On The Credit Card

The credit card has come to China for more than 20 years and caught a rapid development with the economic growth. Nowadays, China is shifting from the age of"paying by cash" to"paying by credit card". The credit card market in China is booming and will be expanding fast in the future. As the credit card business is one of the highest profit services in the international financial business, most of the domestic banks are engaged in this area, the competition is very fierce.As a new financial management tool, the credit card developed fast in China. with the rising volume of credit card,while, the profit of this business in every bank is not parallel. Most of banks are faced to the serious challenges about how to maintain sustainable development of the credit card business. Customer loyalty can expand the credit card business and increase profit and it's an urgently problem needed to be solved. Researches show that high customer loyalty can bring high economic benefits. With the increasingly fierce competition in consumer market, nurturing and maintaining loyal customer groups have become an important business market winning strategy. Under the external pressure from competitive market, the formulation and implementation of customer loyalty management strategy and providing customers with integrated, different services are important safeguards to maintain long-term, two-way interaction between the customers and enterprises. So under this reality and theory circumstance, this thesis, research on factors influencing customer loyalty and their importance is of important theory and reality meaning.Now many domestic and foreign scholars researched the factors which will affect customer loyal from different perspectives including the service quality, customer satisfaction, customer value, and switching costs. But it doesn't have a conclusion about the influencing factors and how these factors affect customer loyalty. The thesis puts forward question which the thesis wants to resolve after generalizing and analyzing the status about the credit card business market development in our country. According to the relevant literature and field surveys, which is used for reference, the thesis brings forward factors influencing customer loyalty considering our present status of the credit card business market. At the same time, the thesis has defined the meanings about factors, established appropriate indexes to measure these factors, founded the model of factors influencing customer loyalty and put forward interrelated hypothesis.The thesis makes an empirical research on factors influencing customer loyalty and their importance through questionnaire by applying SPSS 13.0 software, and then there are some conclusions as following: (1) Factors of innovation and convenience of service quality have a strong and positive effect on customer loyalty; Factors of innovation, convenience, security and visibility of service quality have a strong and positive effect on customer satisfaction, and affect customer loyalty indirectly through customer satisfaction.(2) customer satisfaction has a strong and positive effect on customer loyalty. customer satisfaction is a mediator between service quality and customer loyalty.(3) Procedure switching cost, relationship loss costs and psychological switching cost have a strong and positive effect on customer loyalty; psychological switching cost has a quite obvious influence to the customer loyalty.(4) from the regression coefficient of view, in all the various factors through stepwise regression, psychological switching cost impact on the role of customer loyalty the most, followed by customer satisfaction, procedure switching cost, relationship loss costs and innovation factor, and the convenience coefficient is smaller. These conclusions are useful to enhance customer loyalty.This thesis is an exploratory study about customer loyalty and influencing factors in the credit card business. It's also an in-depth empirical analysis. The main innovation in this paper includes as following:First, previous research are more concentrated in service quality or customer satisfaction, this comprehensive researches service quality, customer satisfaction and switching costs and the customer satisfaction's medium function between customer loyalty and services quality, confirms the services quality through both direct and indirect effect on customer loyalty.Secondly, it connects customer loyalty with the background of the booming credit card industry in China, through questionnaire, using correlation analysis, multiple regressions, and other quantitative methods to analysis credit card customer loyalty factors, and provides a reliable basis for the banks to adopt effective measures to enhance customer loyalty.In addition, due to the limitation of author's knowledge and experience, the article has much room to be improved and perfected, so the author welcomes every expert and scholar to put forward the critical opinions and constructive suggestions cordially.