Luận Văn The effects of customer loyality on profitabillity

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    Linh Napie New Member

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    Đề tài: THE EFFECTS OF CUSTOMER LOYALITY ON PROFITABILLITY

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    A Digest Presented to the Faculty of the Graduate School of Saint Louis University in Partial Fulfillment of the Requirements for the Degree of Doctor of Philosophy


    For more than a decade, companies have searched for quantifiable links between profitability and various aspects of their firms, employees, and customers.
    Early research from the PIMS study showed that increasing market share was key to higher profitability for a firm but this same theory does not hold true today. There are many very profitability firms that do not command a lion's share of their market.
    During the 198 0s, the 'Quality Movement' deluged many companies. Most companies attempted to incorporate Total Quality Management (TQM) activities into their companies in the hopes of reducing the per- unit cost of their products/services thereby increasing profitability. While there were many positive resulting from quality improvement the results were mixed.
    Much of the decade of the 1990s focused on studying customer satisfaction in the hopes of discovering the link between total customer satisfaction and profitability. While customer satisfaction is clearly an important part of a company's financial performance, satisfaction is not the sole determinant of profitability.
    Most companies have learned that it is far more profitable to keep customers than attracting new customers. And, more specifically, the 'right' type of customer to maintain. Current studies have focused on the need for improving customer loyalty in the hopes of achieving long-term financial health.
    This is the focus of my dissertation. What has not been accomplished in the past is the establishment of a quantifiable connection linking customer loyalty to financial performance. The loyalty index used in this dissertation is a composite of four factors (use again, recommend to others, exceeding expectations, and satisfaction).
    Once this link has been formed, management can focus their efforts on these factors to increase and enhance customer loyalty and reap the financial benefits thereof.


    COMMITTEE IN CHARGE OF CANDIDACY:
    Professor Ik-Whan Kwon,
    Chairperson and Advisor
    Associate Professor Mark Ferris
    Professor Philipp A. Stoeberl


    Tables
    Figures .
    1. Introduction
    Research History
    Need for Research
    Research Goals and Methodology .
    Purpose of Research .
    Dissertation Organization .
    2 . Literature Review .
    Customer Satisfaction/Retention
    Total Quality Management
    Financial Performance .
    Linkage Between Quality and Performance
    Customer Loyalty .
    Hypotheses
    3 . Methodology .
    Data .
    Variables and Attributes
    Independent Variables .
    Dependent Variables .
    Statistical Tools .
    4 . Results .
    Descriptive Statistics and Correlation Analysis
    Hypotheses (H.)
    Model Fitness (H.) .
    Regression Results (H,) .
    Hypotheses (H[SUB]2[/SUB])
    Model Fitness (H[SUB]2[/SUB]) .
    Regression Results (H[SUB]2[/SUB]) .
    Hypotheses (H[SUB]3[/SUB])
    Hypotheses (H[SUB]3A[/SUB])
    Model Fitness (H[SUB]3A[/SUB]) .
    Regression Results (H[SUB]3A[/SUB]) .


    Hypotheses (H[SUB]3B[/SUB]) 94
    Model Fitness (H[SUB]3B[/SUB]) 95
    Regression Results (H[SUB]3B[/SUB]) 97
    Hypotheses (H[SUB]3C[/SUB]) 99
    Model Fitness (H[SUB]3C[/SUB]) 99
    Regression Results (H[SUB]3C[/SUB]) . 102
    Hypotheses (H[SUB]3D[/SUB]) . 104
    Model Fitness (H[SUB]3D[/SUB]) . 105
    Regression Results (H[SUB]3D[/SUB]) . 108
    Hypotheses (H[SUB]3E[/SUB]) . 109
    Model Fitness (H[SUB]3E[/SUB]) . 110
    Regression Results (H[SUB]3E[/SUB]) . 113
    Hypotheses (H[SUB]4[/SUB]) 115
    Model Fitness (H.) 115
    Regression Results (H.,) 119
    Chapter 5. Discussion 122
    Loyalty Index . 124
    Hospital Related Independent 124
    Variables
    Hospital Size 125
    Labor Intensity . 125
    Non-Operating Revenue Mix . 126
    Average Length of Stay 126
    Medicaid Mix 126
    Medicare Mix 127
    The Four Factors of the LOYALTY . 128
    Index
    Chapter 6. Conclusions . 131
    Summary . 131
    Study Limitations . 133
    Suggestions for Future Research . 135
    Bibliography 13 9
    Biography of the Author 145


    2-1 Deming's Fourteen Points . 13
    2- 2 The Malcolm Baldrige Award 1998 Criteria . 17
    and Point Values
    3- 1 Selected Sample Survey Data and the . 57
    LOYALTY Calculations
    3- 2 Frequency . of USE Variable 57
    3- 3 Frequency . of RECOMMEND Variable 58
    3- 4 Frequency . of EXPECT Variable 58
    3- 5 Frequency . of SATSC0R1 Variable 58
    3- 6 Frequency . of LOYAL Variable 59
    3- 7 Summary of Variables 65
    4- 1 Descriptive Statistics 69
    4-2 Correlation Analysis of Regression . 73
    Variables
    4-3 Ordinary Least Squares Regression 79
    Analysis of Total Operating Margin and the Gapenski et al. (93a) Variables
    4-4 Ordinary Least Squares Regression 85
    Analysis of Transformed Total Operating Margin (MARGEXP) and Transformed LOYALTY Variable (LOYLEXP)
    4-5 Ordinary Least Squares Regression 92
    Analysis of Transformed Total Operating Margin (MARGEXP) Using All Three Transformed Components of the Loyalty Index Collectively (EXPPER, SATPER, and RECPER)

    Ordinary Least Squares Regression . 98
    Analysis of Total Operating Margin (MARGNTOT) and the Use Again Percentage (USEPER) Variable
    [​IMG]Ordinary Least Squares Regression . 103
    Analysis of Transformed Total Operating Margin (MARGEXP) Model Using the Transformed Recommend to Others Percentage Variable (RECSQRE)
    [​IMG]Ordinary Least Squares Regression . 108
    Analysis of Transformed Total Operating Margin (MARGEXP) and the Transformed Exceeded Expectations Percentage Variable (EXPEXP)
    [​IMG]Ordinary Least Squares Regression 114
    Analysis of the Total Operating Margin (MARGNTOT) and Satisfaction Percentage Variable (SATPER)
    Ordinary Least Squares Regression 119
    Analysis of the Total Operating Margin (MARGNTOT) and the Gapenski et al. (93a)
    Variables and the Loyalty Variable (LOYALTY)


    2-1 Deming's Chain Reaction . 13
    2-2 Graphical Illustration of a Secure Customer 39
    2-3 Elements of the Service Profit Chain 41
    4-1 Box Plot of Total Operating Margin . 76
    Model (MARGNTOT) Residuals Using the Gapenski et al. (93a) Variables
    4-2 Scatter Diagram of Total Operating . 77
    Margin Model (MARGNTOT) Residuals Using the Gapenski et al. (93a) Variables
    4-3 Cumulative Probability Plot of Total . 77
    Operating Margin Model (MARGNTOT)
    Residuals Using the Gapenski et al. (93a)
    Variables
    4-4 Box Plot of Transformed Total Operating . 83
    Margin Model (MARGEXP) Residuals Using the Transformed LOYALTY Variable (LOYLEXP)
    4-5 Scatter Diagram of Transformed Total . 83
    Operating Margin Model (MARGEXP)
    Residuals Using the Transformed LOYALTY Variable (LOYLEXP)
    4-6 Cumulative Probability Plot of . 84
    Transformed Total Operating Margin Model (MARGEXP) Residuals Using the Transformed LOYALTY Variable (LOYLEXP)
    4-7 Graphical Analysis of the Relationship . 86
    Between Transformed Total Operating Margin (MARGEXP) and Transformed LOYALTY Variable (LOYLEXP)

    Box Plot of Transformed Total Operating 90
    [​IMG]Margin Model (MARGEXP) Residuals Using All Three Transformed Components of Loyalty Index Collectively (EXPEXP,
    SATSQRE, and RECSQRE)
    [​IMG]Scatter Diagram of Transformed Total 90
    Operating Margin Model (MARGEXP)
    Residuals Using All Three Transformed Components of Loyalty Index Collectively (EXPEXP, SATSQRE, and RECSQRE)
    [​IMG]Cumulative Probability Plot of . 91
    Transformed Total Operating Margin Model (MARGEXP) Residuals Using All Three Transformed Components of Loyalty Index Collectively (EXPEXP, SATSQRE, and RECSQRE)
    [​IMG]Box Plot of Total Operating Margin 96
    (MARGNTOT) Model Residuals and Use Again Percentage Variable (USEPER)
    Scatter Diagram of Total Operating Margin . 96
    (MARGNTOT) Model Residuals and Use Again Percentage Variable (USEPER)
    Cumulative Probability Plot of Total 97
    Operating Margin (MARGNTOT) Model Residuals and Use Again Percentage Variable (USEPER)
    Box Plot of Transformed Total Operating . 101
    Margin (MARGEXP) Model Residuals Using the Transformed Recommend to Others Percentage Variable (RECSQRE)
    [​IMG]Scatter Diagram of Transformed Total 101
    Operating Margin (MARGEXP) Model Residuals Using the Transformed Recommend to Others Percentage Variable (RECSQRE)


    4-16 Cumulative Probability Plot of 102
    Transformed Total Operating Margin (MARGEXP) Model Residuals Using the Transformed Recommend to Others Percentage Variable (RECSQRE)
    4-17 Box Plot of Transformed Total Operating . 106
    Margin (MARGEXP) Model Residuals and the Transformed Exceeded Expectations Percentage Variable (EXPEXP)
    4-18 Scatter Diagram of Transformed Total . 107
    Operating Margin (MARGEXP) Model Residuals and the Transformed Exceeded Expectations Percentage Variable (EXPEXP)
    4- 19 Cumulative Probability Plot of 107
    Transformed Total Operating Margin (MARGEXP) Model Residuals and the Transformed Exceeded Expectations Percentage Variable (EXPEXP)
    4- 20 Box Plot of Total Operating Margin 112
    (MARGNTOT) Model Residuals and Satisfaction Percentage Variable (SATPER)
    4- 21 Scatter Diagram of Total Operating 112
    Margin (MARGNTOT) Model Residuals and Satisfaction Percentage Variable (SATPER)
    4- 22 Cumulative Probability Plot of Total 113
    Operating Margin (MARGNTOT) Model Residuals and Satisfaction Percentage Variable (SATPER)
    4- 23 Box Plot of Total Operating Margin 117
    (MARGNTOT) Model Residuals and the Gapenski et al. (93a) Variables and the Loyalty Variable (LOYALTY)
    4- 24 Scatter Diagram of Total Operating . 117
    Margin (MARGNTOT) Model Residuals and the Gapenski et al. (93a) Variables and the
    Loyalty Variable (LOYALTY)
    4- 25 Cumulative Probability Plot of Total . 118
    Operating Margin (MARGNTOT) Model Residuals and the Gapenski et al. (93a)
    Variables and the Loyalty Variable (LOYALTY)


    CHAPTER 1
    INTRODUCTION
    Chapter 1 introduces specific research history- related to customer loyalty, total quality management, and the performance of an organization. It also presents the research justification, goals, and associated methodology used in this study. An organizational outline of this dissertation is also included.
    Research History-
    Recent literature identifies the critical role that loyal customers (a.k.a. secure customers) play in the overall financial viability of an organization. Similar research unveils a significant relationship between customer satisfaction, customer loyalty, total quality management (TQM), and the financial performance of an organization. While most studies have focused on customer loyalty (retention) and the multiple reasons for customer defection to competitors, few researchers
    have attempted to analyze the link between secure customers and financial performance.
    Need for Research
    Although much research has analyzed customer loyalty, customer satisfaction, financial performance, total quality management and its impact on performance (Flynn 1995; Roth and Jackson 1995), no known research has identified an empirical link between customer loyalty, quality, and financial performance.
    Past trends in corporate America have focused on increasing customer satisfaction in hope of improving financial performance. This approach has not proven entirely successful (Thomas 1996). Research found that, even while customers reported high levels of satisfaction with a company, the likelihood of repeat business with that same company was marginal. Most companies today have changed their focus to customer loyalty rather than customer satisfaction (Lowenstein 1996). Companies now look to researchers to establish a tangible link between customer loyalty and financial performance.
     

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