Determinants of Customer Loyalty in the Zimbabwean Microfinance Sector
Recently, there has been an exponential increase in microfinance institutions leading to intense competition. This has impelled the interest of scholars, practitioners, and researchers in customer loyalty. Nonetheless, there is a dearth of empirical evidence on the determinants of customer loyalty i...
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| Format: | book part |
| Language: | English |
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IGI Global
2023
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| Online Access: | https://cris.library.msu.ac.zw//handle/11408/5422 |
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| author | Mufaro Dzingirai Noah Tshuma Shingirai Sikomwe |
| author2 | Midlands State University, Zimbabwe |
| author_facet | Midlands State University, Zimbabwe Mufaro Dzingirai Noah Tshuma Shingirai Sikomwe |
| author_sort | Mufaro Dzingirai |
| collection | DSpace |
| description | Recently, there has been an exponential increase in microfinance institutions leading to intense competition. This has impelled the interest of scholars, practitioners, and researchers in customer loyalty. Nonetheless, there is a dearth of empirical evidence on the determinants of customer loyalty in the microfinance sector. Accordingly, the main objective of this study is to establish the determinants of customer loyalty. Employing correlational research design with a sample size of 132 customers of microfinance institutions in Gweru who completed a highly structured questionnaire, the hypotheses are tested using Pearson correlation and regression analysis. The findings reveal that service quality, customer trust, and customer satisfaction have a strong statistically significant positive effect on customer loyalty. Nonetheless, a weak insignificant positive relationship between perceived microfinance image and customer loyalty is observed. It is, therefore, recommended that the managers should devise strategies to augment service quality, customer trust, and customer satisfaction. |
| format | book part |
| id | ir-11408-5422 |
| institution | My University |
| language | English |
| publishDate | 2023 |
| publisher | IGI Global |
| record_format | dspace |
| spelling | ir-11408-54222023-03-21T15:24:09Z Determinants of Customer Loyalty in the Zimbabwean Microfinance Sector Mufaro Dzingirai Noah Tshuma Shingirai Sikomwe Midlands State University, Zimbabwe Midlands State University, Zimbabwe Midlands State University, Zimbabwe Customer Loyalty Zimbabwean Microfinance Sector Microfinance institutions Microfinance Recently, there has been an exponential increase in microfinance institutions leading to intense competition. This has impelled the interest of scholars, practitioners, and researchers in customer loyalty. Nonetheless, there is a dearth of empirical evidence on the determinants of customer loyalty in the microfinance sector. Accordingly, the main objective of this study is to establish the determinants of customer loyalty. Employing correlational research design with a sample size of 132 customers of microfinance institutions in Gweru who completed a highly structured questionnaire, the hypotheses are tested using Pearson correlation and regression analysis. The findings reveal that service quality, customer trust, and customer satisfaction have a strong statistically significant positive effect on customer loyalty. Nonetheless, a weak insignificant positive relationship between perceived microfinance image and customer loyalty is observed. It is, therefore, recommended that the managers should devise strategies to augment service quality, customer trust, and customer satisfaction. 527 544 2023-03-21T15:24:08Z 2023-03-21T15:24:08Z 2023 book part https://cris.library.msu.ac.zw//handle/11408/5422 10.4018/978-1-6684-7552-2.ch029 en Research Anthology on Microfinance Services and Roles in Social Progress 9781668475522 open IGI Global |
| spellingShingle | Customer Loyalty Zimbabwean Microfinance Sector Microfinance institutions Microfinance Mufaro Dzingirai Noah Tshuma Shingirai Sikomwe Determinants of Customer Loyalty in the Zimbabwean Microfinance Sector |
| title | Determinants of Customer Loyalty in the Zimbabwean Microfinance Sector |
| title_full | Determinants of Customer Loyalty in the Zimbabwean Microfinance Sector |
| title_fullStr | Determinants of Customer Loyalty in the Zimbabwean Microfinance Sector |
| title_full_unstemmed | Determinants of Customer Loyalty in the Zimbabwean Microfinance Sector |
| title_short | Determinants of Customer Loyalty in the Zimbabwean Microfinance Sector |
| title_sort | determinants of customer loyalty in the zimbabwean microfinance sector |
| topic | Customer Loyalty Zimbabwean Microfinance Sector Microfinance institutions Microfinance |
| url | https://cris.library.msu.ac.zw//handle/11408/5422 |
| work_keys_str_mv | AT mufarodzingirai determinantsofcustomerloyaltyinthezimbabweanmicrofinancesector AT noahtshuma determinantsofcustomerloyaltyinthezimbabweanmicrofinancesector AT shingiraisikomwe determinantsofcustomerloyaltyinthezimbabweanmicrofinancesector |