The relationship between perceived benefits and costs and returning customers of Bank Mellat in Rasht city

Dissertation for Master Degree (M.A.)

Treatment: Domestic Business

Abstract

The increasing changes in Iranian banking and the entry of private competitors in the field of providing services have prompted bank managers to increase the share of each customer and keep customers for a long time. The requirement of customer retention and turning them into loyal customers and returning them is their satisfaction with the quality of banking services. According to the studies conducted in Iran, the satisfaction and loyalty of bank customers is not at the optimal level, therefore, in this research, the factors affecting it have been investigated.  Revisiting generally means the customer's return to the company after the first purchase, which is a dependent variable in this research. Perceived benefits as one of the independent variables of the research means the benefits that customers perceive after receiving the product and because of these benefits, they choose the desired product or service, which is divided into three parts: information quality, system quality, and service quality. Perceived costs as another independent variable means the costs that people pay to receive benefits and services, which in this research are divided into three parts: technological effort, perceived financial costs, and perceived risk. The research method is causal research. The data collection method is field type and the data collection tool is a questionnaire. The statistical population of this research is Bank Mellat customers in Rasht city and it is approximately equal to 1400 people. The number of research samples was 302 through Cochran's formula. The non-probability sampling method is simple. In this research, descriptive statistics and structural equation method were used to analyze the data and test the hypotheses, and finally the following results were obtained: Perceived value has a significant relationship with repeat visits. Information quality, system quality and service quality, technological effort have a significant relationship with perceived value, and perceived financial costs and perceived risk. They do not have a significant relationship with the perceived value. Key words: perceived benefits, perceived costs, perceived value, return of customers. Chapter 1. General research. have placed and failed to use modern marketing effectively. People have not had any motivation to refer to a particular bank due to the lack of attention and appreciation of their needs and demands and the provision of the same and similar services by all the country's bank branches. Considering the environmental changes we are facing, banks should equip themselves in advance and prepare to face the competitors (Abbasi, 2011, p. 25). As markets grow and become more complex, many companies recognize the importance of existing customers and undertake many innovative activities to improve customer loyalty. Customer loyalty is considered as a key factor for organizations, especially banks, and makes the organization profitable and successful. In order to manage customer loyalty in the best way, organizations must be able to communicate with their customers in the best way and identify their needs and desires. Loyal customers have a positive attitude towards the company and are less sensitive to the company's prices (Asoli and Shojaei, 2019, 3). Today, the main goal of the organization is not to sell products or provide services alone, but the goal is to create a stable relationship and bond between products and services and a certain group of customers, the extract of which will be a kind of commitment to the organization's product. The creation of such a commitment takes place during a process that includes the customer's familiarity with the product, getting familiar with it, and then preferring the product. If this process is successful, the loyalty of the customer and his return to the organization, the success of the organization and the disappointment of other competitors are guaranteed (Ranjbaran and Gholami, 2015, 50).

Revisiting customers means a situation in which a customer generally buys or receives similar products and services from a company over time. These products are offered by several companies or loyalty is the degree to which a customer permanently buys products and services of a particular brand.Brand loyalty in today's marketing is the ultimate goal of selling products or providing services. Satisfied customers usually become loyal (Ioan, 2000).

In general, in the research conducted, researchers stated that returning customers is a form of loyalty among customers, for this reason, in this research, when talking about loyalty, it means returning customers. Among the factors that affect the return of customers to banks are the benefits and costs that customers receive and pay for using banking services. In general, customers and people have to pay a fee to receive benefits from a product or service, but when people use a certain company's services for several times, the cost is lower than the benefits received and it is economical for the consumer (same). Each of these benefits and costs has subsets that we will discuss further in the analytical model of the research. The general purpose of this research is to investigate the perceived benefits and costs and the perceived value of returning Mellat Bank customers in Rasht city.   

Statement of the problem

In today's competitive environment where acquiring a new customer is many times more expensive than keeping an old customer for companies, the most logical policy is to maintain and maintain the existing customers first and attract new customers in the next priority. In order to keep customers, companies should use appropriate tools to strengthen customer loyalty and return to them, and determine solutions to continue long-term relationships with them. The long-term success of companies and organizations is determined by their ability to quickly respond to changing customer needs and preferences (Cretue and Boodie, 2007). The services of banks have been diversified in recent years due to the growth of customer needs and the existence of strong and serious competitors. Banks are moving in the direction of expanding their services in line with the needs of their customers and making them visit the bank more and become loyal to it (Tajzadeh, Nemin, 2019, 22).

In general, researchers believe that customer satisfaction is one of the determining factors of repeat purchases, customer word of mouth, and ultimately customer loyalty and returning to the organization. Satisfaction has long been one of the determining factors of customer loyalty and his return. Satisfied customers return to the organization and buy again or use the company's services in the future. This category of customers will exchange their positive and negative experiences of the company's goods and services with others (Bayraktar et al, 2012). Marketing researchers consider several factors to be effective on revisiting. Factors such as satisfaction, trust, communication, development of structures such as communication quality and communication value, doing positive word of mouth advertising, expressing your preferences to the company (Chen and Tsai, 2007), perceived benefits and costs (Wang and Wang, 2010). This research is focused on perceived benefits and perceived costs as factors affecting people's return. The factors affecting the return of people as a dependent variable are divided into the following two general categories: Perceived benefits as one of the independent variables of the research means the benefit that people or customers perceive after receiving the product and choose the desired product or service because of these benefits. Perceived benefits have several dimensions. In this research, the dimensions of perceived benefits can include information quality, system quality, and service quality. Information quality means the quality of content in the system. Information quality means the extent of using information that helps the customer to obtain complete, accurate, timely and reliable information from the company in order to be encouraged to use the company's services or products (Wang and Wang, 2010)). System quality refers to features such as availability, usability, reliability, adaptability, and response time. From the point of view of operational systems, the quality of a system means increasing the effectiveness of system information. Service quality is the extent or degree to which a customer can be provided with personal, fast and ongoing service. Good service should impress the customer or consumer. Researchers stated that product quality has a positive effect on perceived value (Wang and Wang, 2010). Perceived costs, as another independent variable, not only include the price of services provided, but also include non-financial costs. There is no limit to non-financial expenses.