Implementing the paradigm shift from satisfaction to loyalty

T.R. Rao and Francis D’Souza

Standard Chartered Bank has over 500 locations around the world and employs over 30,000 staff. It created a new customer feedback survey to get customers to evaluate their experiences and identify ways in which the experience could be improved.

Implementing the Paradigm Shift From Satisfaction to Loyalty

T.R. RaoMarket Probe, Inc., United States.

Francis D'SouzaSales & Service Quality, Group Consumer Banking, Standard Chartered Bank, Singapore.

INTRODUCTION

There has been a lot of discussion in recent business literature about the disconnect between satisfaction and loyalty and how high levels of satisfaction are necessary, but not sufficient to guarantee loyalty. Customer feedback systems in banks and other service industries typically measure loyalty based on attitudes and value perceptions or adopt a hybrid measure of satisfaction, purchase intention and advocacy. Though there are many different measures of loyalty used in...

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