The effects of stake, satisfaction, and switching on true loyalty: a financial services study

Purpose – The purpose of this paper is to examine the differential influence of three drivers of loyalty on the dimensions of loyalty. The three drivers are stake, satisfaction, and the value of switching service providers. The dimensions of loyalty are behavioral response, commitment to the people providing the service, and commitment to the institution. An additional goal is to determine whether this pattern of influence is affected by the age or depth of the service relationship.Design/methodology/approach – A survey of customers was analyzed to test a model using MANOVAs on the overall sample, and sub‐samples created based on age and depth of a financial service relationship.Findings – Overall, all three drivers exhibited differential influence on the three dimensions of loyalty. The behavioral response dimension was influenced by all three drivers. The commitment to people dimension was influenced by stake and satisfaction. The commitment to the institution dimension was influenced by value of switch...