Multi-attribute Analysis of Confidence, Convenience and Price Functions of Customers of Financial Services Firms: a GLS Systems Model
AbstractThe purpose of the study is to examine significant attributes of customers for explaining the level of confidence, convenience and affordability of services offered by financial service firms (FSFs). A GLS systems model is applied to cross sectional survey data in Dubai. Earnings stability, reliability and liquidity were found to be significant attributes to explain the satisfaction and confidence of customers across FSFs. Results indicate that: core, tangible and relational attributes besides ambience and ATM network were significant attributes that positively influenced the customers’ satisfaction and convenience of FSFs. Home loans, credit cards, savings accounts, term deposits and insurance services were significant products that were affordable and valued by customers. The systems model was validated using holdout sample. The customers’ confidence and convenience functions had a reliability of 92 to 94 percent while the value function had a reliability of 74 percent. The study findings have implications on FSFs’ customer relationship management, customer insight and production/transaction processing competencies.
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Bibliographic InfoPaper provided by EconWPA in its series Finance with number 0502002.
Length: 40 pages
Date of creation: 07 Feb 2005
Date of revision:
Note: Type of Document - pdf; pages: 40
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Confidence; Convenience; Affordability; Financial service firms; CRM; Customer insight and production/transaction processing competencies; GLS Systems Model;
Find related papers by JEL classification:
- C31 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Cross-Sectional Models; Spatial Models; Treatment Effect Models; Quantile Regressions; Social Interaction Models
- G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
- M31 - Business Administration and Business Economics; Marketing; Accounting - - Marketing and Advertising - - - Marketing
- N25 - Economic History - - Financial Markets and Institutions - - - Asia including Middle East
- R22 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Other Demand
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