Critical review of the e-loyalty literature: a purchase-centred framework

Over the last few years, the concept of online loyalty has been examined extensively in the literature, and it remains a topic of constant inquiry for both academics and marketing managers. The tremendous development of the Internet for both marketing and e-commerce settings, in conjunction with the growing desire of consumers to purchase online, has promoted two main outcomes: (a) increasing numbers of Business-to-Customer companies running businesses online and (b) the development of a variety of different e-loyalty research models. However, current research lacks a systematic review of the literature that provides a general conceptual framework on e-loyalty, which would help managers to understand their customers better, to take advantage of industry-related factors, and to improve their service quality. The present study is an attempt to critically synthesize results from multiple empirical studies on e-loyalty. Our findings illustrate that 62 instruments for measuring e-loyalty are currently in use, influenced predominantly by Zeithaml et al. (J Marketing. 1996;60(2):31-46) and Oliver (1997; Satisfaction: a behavioral perspective on the consumer. New York: McGraw Hill). Additionally, we propose a new general conceptual framework, which leads to antecedents dividing e-loyalty on the basis of the action of purchase into pre-purchase, during-purchase and after-purchase factors. To conclude, a number of managerial implementations are suggested in order to help marketing managers increase their customers’ e-loyalty by making crucial changes in each purchase stage

Using Transaction Utility Approach for Retail Format Decision

Transaction Utility theory was propounded by Thaler to explain that the value derived by a customer from an exchange consists of two drivers: Acquisition Utilities and Transaction utilities. Acquisition utility represents the economic gain or loss from the transaction. Where as transaction utility is associated with purchase or (sale) and represents the pleasure (or displeasure) of the financial deal per se and is a function of the difference between the selling price and the reference price. Choice of a format has been studied from several dimensions including the cost and effort as well as the non-monetary values. However, the studies that present the complete picture and combine the aspects of the tangible as well as intangible values derived out of the shopping process are limited. Most of the studies, all of them from the developed economies, have focussed on the selection of a store. They represent a scenario where formats have stabilised. However, in Indian scenario formats have been found to be influencing the choice of store as well as orientation of the shoppers. Also, retailers are experimenting with alternate format with differing success rates. The author has also not found a study that has applied this theory. It is felt that the Transactional Utility Theory may provide a suitable approach for making format decisions.

Technology and Service Quality in the Banking Industry: An Empirical Study of Various Factors in Electronic Banking Services

Technology-based self service has greatly changed the way that service Firms and consumers interact and are raising a host of research and practice issues relating to the delivery of e-service which has become increasingly important not only in determining the success or failure of electronic commerce but also in providing consumers with a superior experience with respect to the interactive flow of information. The purpose of this research study was to establish the relationship between technology and service quality in the banking industry in Nigeria. The research was carried out through a cross sectional smvey design which questioned respondents one e-banking services. The population of study mainly constituted of customers of Oceanic bank within Lagos metropolis and its environs. The respondents of the study were customers of banks using e-banking services (internet banking, mobile banking and AIM). The sample in this study consisted of 120 respondents who are users of thee-banking services. The data collected was analyzed by use of frequency, percentage, means and correlation analysis. The findings revealed that secure services as the most important dimension, followed by convenient location of AIM, efficiency (not need to wait, ability to set up accounts so that the customer can perform transactions immediately, accurately of records, user friendly, ease of user, complaint satisfaction, accurate transactions and operation in 24 h)

Information technology innovations and commercial banking: A review and appraisal from an historical perspective

Technological innovation in general and information technology (IT) applications in particular, have had a major effect in banking and finance. Following Garbade and Silber (1978), this research reviews the effects on banking organisations with reference to front office or external changes as described by the nature of product and service offerings. Following Morris (1986) and Quintás (1991), the research also considers innovations in the back office or internal (operational function) changes brought about to banking organisations. Outstanding IT-based innovations are considered and grouped into four distinct periods: early adoption (1864-1945), specific application (1945-1965), emergence (1965-1980) and diffusion (1980-1995). The research then discusses the potential impact of more recent innovations (i.e. electronic purses, digital cash and Internet banking). As a result, the research provides an historical perspective on the main drivers determining adoption of technological innovation in retail banking markets.Banks, competition, IT innovation

E-Fulfillment and Multi-Channel Distribution – A Review

This review addresses the specific supply chain management issues of Internet fulfillment in a multi-channel environment. It provides a systematic overview of managerial planning tasks and reviews corresponding quantitative models. In this way, we aim to enhance the understanding of multi-channel e-fulfillment and to identify gaps between relevant managerial issues and academic literature, thereby indicating directions for future research. One of the recurrent patterns in today’s e-commerce operations is the combination of ‘bricks-and-clicks’, the integration of e-fulfillment into a portfolio of multiple alternative distribution channels. From a supply chain management perspective, multi-channel distribution provides opportunities for serving different customer segments, creating synergies, and exploiting economies of scale. However, in order to successfully exploit these opportunities companies need to master novel challenges. In particular, the design of a multi-channel distribution system requires a constant trade-off between process integration and separation across multiple channels. In addition, sales and operations decisions are ever more tightly intertwined as delivery and after-sales services are becoming key components of the product offering.Distribution;E-fulfillment;Literature Review;Online Retailing

The 4s web-marketing mix model

This paper reviews the criticism on the 4Ps Marketing Mix framework, the most popular tool of traditional marketing management, and categorizes the main objections of using the model as the foundation of physical marketing. It argues that applying the traditional approach, based on the 4Ps paradigm, is also a poor choice in the case of virtual marketing and identifies two main limitations of the framework in online environments: the drastically diminished role of the Ps and the lack of any strategic elements in the model. Next to identifying the critical factors of the Web marketing, the paper argues that the basis for successful E-Commerce is the full integration of the virtual activities into the company’s physical strategy, marketing plan and organisational processes. The four S elements of the Web-Marketing Mix framework present a sound and functional conceptual basis for designing, developing and commercialising Business-to-Consumer online projects. The model was originally developed for educational purposes and has been tested and refined by means of field projects; two of them are presented as case studies in the paper.\ud \u

Developments, Issues, and Initiatives in Retail Payments

Innovations in basic information technologies, in payment applications, and in the availability of global markets, as well as substantial changes in financial sector policy, have fundamentally changed how the retail payments system in Canada operates. Principally, the volume and types of electronic payments have grown, and there is increased participation by diverse groups of financial and non-financial institutions as providers of retail payment services. The resulting policy problem for payment systems is how best to benefit from efficiency gains while managing payment risks. O'Connor examines the effect of the technological and legislative changes and the initiatives developed by the public and private sectors in such areas as the market arrangements for services; customer risks and costs for settling large-value retail payments; the security of payment information and the efficiency with which it is transmitted; and the effects of differing regulatory regimes on competition among providers of retail payment services.

DESIGN AND DELIVERY OF ELECTRONIC SERVICES: IMPLICATIONS FOR CUSTOMER VALUE IN ELECTRONIC FOOD RETAILING

Electronic food retailers can satisfy their customers more effectively if they understand how this particular market works. As in other service segments, the emergence of electronic business-to-customer services in the retail food industry poses questions for managers about the design of new food retailing services and the redesign of existing services for delivery through electronic channels. Important topics include characteristics of electronic service offerings, the typical operational configurations used to deliver electronic services, and the ways in which they relate to the effectiveness of electronic service delivery. We address this issue by developing a product-process matrix for understanding and analyzing electronic retailing services in general. We tailor the matrix to food retailing in particular. The product-process matrix allows electronic food retailers to determine in advance what features they need in a web site to serve their chosen market effectively.Consumer/Household Economics, Marketing, Research and Development/Tech Change/Emerging Technologies,

The Role and Efficiency of Internet Banking in Romania

The electronic revolution in commerce is strongly affecting the performance of the economies. Banking over the internet has attracted increasing attention over the past several years from bankers and other financial services industry participants and this is due to the rapid and significant growth in electronic commerce. The changes in banking system become ever more tangible in the client-bank interface which is situated outside the traditional headquarters represented mainly by automatic teller machines - ATMs.internet banking, efficiency, risk management

Think Local-Act Local: Is It Time to Slow Down the Accelerated Move to Global Marketing?

In view of the accelerated move of great corporations towards global marketing, the strategic changes of such companies raise interesting questions. Is marketing globalization reaching its limits after years of implementation? Is it time for companies to rethink their strategies and move back, like Coca-Cola, to a multi-domestic marketing approach?Global Marketing, Multi-Domestic Marketing Approach, Brand Equity, Drawbacks of Marketing Globalization, Coca-Cola