The Mechanisms through Which Certain Variables Influence Customer Loyalty: The Mediating Roles of Perceived Value and Satisfaction

This study surveyed 123 bank users who experienced problems with their banks’ online banking services, with the aim of understanding the mechanisms through which certain variables influence customer loyalty. Principally, the possible mediating roles of value and satisfaction on the relationships between recovery and loyalty and between ISO 9001 and loyalty were scrutinized. The dimensionalities of the scales were assessed using exploratory and confirmatory factor analysis. Thereafter, structural equation modeling and multiregression analyses were used to test the proposed model. The overall results showed that service recovery can be used to enhance customers’ satisfaction and perception of value and, therefore, customer loyalty. This study also confirmed the partial mediating roles of customers’ satisfaction and perception of value in the relationship between service recovery and loyalty. In contrast, ISO 9001 has no influence on perceived value, satisfaction, and loyalty; the mediating roles of both perceived value and satisfaction were not supported in the relationship between ISO 9001 and loyalty. In practice, even though ISO 9001 appeared to offer few extras to satisfy and retain customers, its use is still advisable because of the other potential benefits that it provides.