The Relationship Study Of Psychological Contract,Customer Satisfaction And Customer Loyalty

Banks are confronted with fierce competition in the context of financial disintermediation. On the one hand, with the increase of investment channels, more people choose new financial tools like stock, bond, trust fund, private equity to put their money in. On the other hand, mortgagors also choose new ways to borrow money which bypass banks and form new capital circulation. As a result, the profit of banks sharply decreased. Against this challenge, maintaining loyal customers is becoming primary choice for bank administrators.In daily life, we also have such experience. For example, bank promise to loan within24hours by ad which isn’t an informal contract. If customer succeed in loaning within24hours as the ad say, he or she must be satisfied with this bank and may become loyal customer. This unwritten and implicit expectation that is held by customer and is related to mutual obligation between individual and organization calls psychological contract.Traditional customer loyalty researches focus on customer satisfaction, customer switching cost, customer trust and so on as influencing factors. Some researches indicate that psychological contract is related to customer loyalty. However, these researched limited to the correlation between psychological contract and customer loyalty, but do not regard them as whole. This thesis intend to discuss the relationship of psychological contract and customer loyalty in a new view, which include customer satisfaction, customer switching cost as important influence factors. The research engages to widen psychological contract theory to customer loyalty theory system.The idea of the thesis is made up of four parts. Part one will discuss the relationship of psychological contract and customer loyalty. Part two will analyze the relationship of psychological contract and customer satisfaction. In part three, the relationship of customer satisfaction and customer loyalty will be discussed. And part four will investigate the influence of customer switching cost which is as moderator variable.According to the idea, both qualitative research and quantitative research will be used. Meanwhile, IBM SPSS20.0will be used as a tool to analysis data received by survey.According to the analysis results, six hypotheses had been confirmed.H1:Customer psychological contract consist of transactions factor and relationship factor in banking.H2:Customer psychological contract has a positive correction with customer loyalty.H3:Customer satisfaction has a positive correction with customer loyalty.H4:Customer satisfaction partially intermediate between customer psychological contract and customer loyalty.H5b:Financial switching cost has influence on the relationship of customer psychological contract and customer loyalty.H5c:Relationship switching cost has influence on the relationship of customer psychological contract and customer loyalty.One hypothesis (H5c) had not been confirmed. That is procedure switching cost has influence on the relationship of customer psychological contract and customer loyalty.This thesis theoretically enlarges the research of customer loyalty theory and deepens the research of psychological contract theory in a new view.During the practice, banks and other enterprises should pay attention to customer psychological contract and guide customer to sign psychological contract. Companies engage to fulfill customer psychological contract to gain customer loyalty by collecting information, evaluating, promising and fulfilling.This thesis also has limitation due to survey respondents converge on young people and other restriction. In the future, researcher can pay attention to the limitation and incorporate mental block, customer trust and other factors to the research.