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Customer satisfaction and dissatisfaction in retail banking: Exploring the asymmetric impact of attribute performances


  • Arbore, Alessandro
  • Busacca, Bruno


The paper presents the results of an extensive study on the determinants of customer satisfaction for a retail bank. In doing so, it uses a revised version of the traditional analyses based on derived measures of attribute importance. The need for a revised methodology is prompted by the insights of the two- and three-factor theories of customer satisfaction, such as Kano's framework. Indeed, the evidence from 5000 customers of a prominent Italian bank confirms a non-linear and asymmetric relationship between attribute performances and overall customer satisfaction. The results from both a traditional and our revised approach are compared. While this approach can be applied across different industries, it should not be assumed that the numerical results presented in the paper apply to contexts with substantially different underlying characteristics. General trends and implications for banking services are reported in the conclusions.

Suggested Citation

  • Arbore, Alessandro & Busacca, Bruno, 2009. "Customer satisfaction and dissatisfaction in retail banking: Exploring the asymmetric impact of attribute performances," Journal of Retailing and Consumer Services, Elsevier, vol. 16(4), pages 271-280.
  • Handle: RePEc:eee:joreco:v:16:y:2009:i:4:p:271-280
    DOI: 10.1016/j.jretconser.2009.02.002

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    References listed on IDEAS

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    6. Zielke, Stephan, 2008. "Exploring asymmetric effects in the formation of retail price satisfaction," Journal of Retailing and Consumer Services, Elsevier, vol. 15(5), pages 335-347.
    7. Oliver, Richard L, 1993. "Cognitive, Affective, and Attribute BAses of the Satisfaction Response," Journal of Consumer Research, Oxford University Press, vol. 20(3), pages 418-430, December.
    8. Johnson, Michael D. & Nader, Georg & Fornell, Claes, 1996. "Expectations, perceived performance, and customer satisfaction for a complex service: The case of bank loans," Journal of Economic Psychology, Elsevier, vol. 17(2), pages 163-182, April.
    9. Conklin, Michael & Powaga, Ken & Lipovetsky, Stan, 2004. "Customer satisfaction analysis: Identification of key drivers," European Journal of Operational Research, Elsevier, vol. 154(3), pages 819-827, May.
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    Cited by:

    1. Finn, Adam, 2011. "Investigating the non-linear effects of e-service quality dimensions on customer satisfaction," Journal of Retailing and Consumer Services, Elsevier, vol. 18(1), pages 27-37.
    2. Verhagen, T. & Dolen, W. van, 2009. "The influence of online store characteristics on consumer impulsive decision-making: a model and empirical application," Serie Research Memoranda 0046, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics.
    3. Hamada Fawzy Thabet Abuzid & Muzaffar Abbas, 2017. "Banks Performance and Impact of Market Orientation Strategy: Do Employee Satisfaction and Customer Loyalty Augment this Relationship?," International Review of Management and Marketing, Econjournals, vol. 7(2), pages 60-66.
    4. Duško Ranisavljeviæ, 2014. "The Flow Chart of Satisfaction Levels of Personal Customers Through the Credit Process in Serbian Retail Banking Market," Proceedings of FIKUSZ '14, in: Pál Michelberger (ed.),Proceedings of FIKUSZ '14, pages 223-236, Óbuda University, Keleti Faculty of Business and Management.
    5. Paulo M.M. Rodrigues & Fernando A. F. Ferreira & Sérgio P. Santos & Ronald W. Spahr, 2011. "Evaluating retail banking quality service and convenience with MCDA techniques: a case study at the bank branch level," Working Papers w201131, Banco de Portugal, Economics and Research Department.
    6. Maier, Erik, 2016. "Supply and demand on crowdlending platforms: connecting small and medium-sized enterprise borrowers and consumer investors," Journal of Retailing and Consumer Services, Elsevier, vol. 33(C), pages 143-153.
    7. Lai, Ivan Ka Wai & Hitchcock, Michael, 2017. "Sources of satisfaction with luxury hotels for new, repeat, and frequent travelers: A PLS impact-asymmetry analysis," Tourism Management, Elsevier, vol. 60(C), pages 107-129.
    8. Rafael Bravo & Jorge Matute & José Pina, 2012. "Corporate Social Responsibility as a Vehicle to Reveal the Corporate Identity: A Study Focused on the Websites of Spanish Financial Entities," Journal of Business Ethics, Springer, vol. 107(2), pages 129-146, May.
    9. Henner Gimpel & Dominikus Kleindienst & Niclas Nüske & Daniel Rau & Fabian Schmied, 2018. "The upside of data privacy – delighting customers by implementing data privacy measures," Electronic Markets, Springer;IIM University of St. Gallen, vol. 28(4), pages 437-452, November.
    10. Zrelli, Imen & Demnati, Haykel & Ben Yedder, Moez, 2019. "The effect of the interaction between tariff modulation and transparency on the customer's dissatisfaction: The case of Tunisia," Journal of Retailing and Consumer Services, Elsevier, vol. 47(C), pages 1-10.
    11. Fernando A. F. Ferreira & Marjan S. Jalali & João J. M. Ferreira & Jelena Stankevičienė & Carla S. E. Marques, 2016. "Understanding the dynamics behind bank branch service quality in Portugal: pursuing a holistic view using fuzzy cognitive mapping," Service Business, Springer;Pan-Pacific Business Association, vol. 10(3), pages 469-487, September.
    12. Fernando A. F. Ferreira & Sérgio P. Santos & Paulo M. M. Rodrigues & Ronald W. Spahr, 2014. "Evaluating retail banking service quality and convenience with MCDA techniques: a case study at the bank branch level," Journal of Business Economics and Management, Taylor & Francis Journals, vol. 15(1), pages 1-21, February.
    13. Marjan S. Jalali & Fernando A. F. Ferreira & João J. M. Ferreira & Ieva Meidutė-Kavaliauskienė, 2016. "Integrating Metacognitive and Psychometric Decision-Making Approaches for Bank Customer Loyalty Measurement," International Journal of Information Technology & Decision Making (IJITDM), World Scientific Publishing Co. Pte. Ltd., vol. 15(04), pages 815-837, July.
    14. Caterina Liberati & Paolo Mariani, 2012. "Banking customer satisfaction evaluation: a three-way factor perspective," Advances in Data Analysis and Classification, Springer;German Classification Society - Gesellschaft für Klassifikation (GfKl);Japanese Classification Society (JCS);Classification and Data Analysis Group of the Italian Statistical Society (CLADAG);International Federation of Classification Societies (IFCS), vol. 6(4), pages 323-336, December.


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