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Customer engagement in the Indian retail banking sector: an exploratory study

Author

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  • Neena Sondhi
  • Baldev R. Sharma
  • Supriya M. Kalla

Abstract

Customer engagement as a construct may have its origin from other disciplines, but in today's cluttered and highly competitive marketplace it holds special significance in marketing. There have been varying thoughts on how the construct will be defined. While some viewed it as a precursor to consumer trust and commitment, others saw it as a multi-dimensional construct that demonstrated a natural and sequential progression of different phases of the same phenomenon. Recognising the significance of the construct for an emerging market place like India, the authors have examined the available thought on the subject and developed a 20-item instrument to measure and operationalise the construct for the Indian retail banking sector. An exploratory factor analysis conducted on a sample of 125 urban retail banking customers revealed robust and decisive results. Customer engagement emerged as a single construct comprising of trust, commitment, loyalty and advocacy. The second factor that emerged was co-creation. Length of association with the bank was an important factor that determined the level of engagement and co-creation. Though limited in scope, the paper presents a strong case for comprehending customer engagement as an all-inclusive phenomenon instead of viewing it in terms of its individual constituent parts.

Suggested Citation

  • Neena Sondhi & Baldev R. Sharma & Supriya M. Kalla, 2017. "Customer engagement in the Indian retail banking sector: an exploratory study," International Journal of Business Innovation and Research, Inderscience Enterprises Ltd, vol. 12(1), pages 41-61.
    • Handle: RePEc:ids:ijbire:v:12:y:2017:i:1:p:41-61
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    Citations

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    Cited by:

    1. Anan F. Srouji & Suzan R. Abed & Madher E. Hamdallah, 2019. "Banks performance and customers' satisfaction in relation to corporate social responsibility: mediating customer trust and spiritual leadership: what counts!," International Journal of Business Innovation and Research, Inderscience Enterprises Ltd, vol. 19(3), pages 358-384.
    2. S. Ananda & Raghavendra Prasanna Kumar & Dharmendra Singh, 2023. "A mediation analysis of perceived service quality, customer satisfaction and customer engagement in the banking sector," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 28(3), pages 570-584, September.
    3. Casper Ferm, Lars-Erik & Thaichon, Park, 2021. "Value co-creation and social media: Investigating antecedents and influencing factors in the U.S. retail banking industry," Journal of Retailing and Consumer Services, Elsevier, vol. 61(C).

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