Abstract
The objective of this study was to analyse the effects of customer-perceived value, corporate image, and service quality on customer satisfaction, as well as to analyse the direct effect of switchi...
Highlights
The car loan company in focus of this study has the main product of four-wheel financing vehicles
Our findings show that customer-perceived value, corporate image, and service quality have a significant effect on customer satisfaction, whereas switching barriers significantly affect customer retention
Service quality has been found as an important determinant of customer satisfaction in retail banking (Caruana, 2002), the game industry (Wu, 2014), chemical industry (Susanti et al, 2020), international medical travel sector (Han & Hyun, 2015), and in cargo services (Arief et al, 2019). This has resulted in the following hypothesis: H3: Service quality has a significant effect on customer satisfaction
Summary
The car loan company in focus of this study has the main product of four-wheel financing vehicles. The business process strategies carried out by the company focused primarily on customer acquisition. This can be seen from the portfolio of customers who apply for credit in the company, as almost 80% were new customers and 20% were customers who have previously used the company’s products or services. Even though the company has a portfolio target of 30% for customers who have previously used the company’s products or services, over the past five years, the target has not been achieved. The company has to find a way to retain the existing customers. To preserve existing customer loyalty, the company certainly needs to maintain customer satisfaction. In this study, the factors that influence customer satisfaction and customer retention were analysed
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