Antecedents for Consumer’s Switching Behavioural Intention Retail Banks in Zimbabwe: Integrating the Theory of Planned Behaviour

Primrose Nyakuwanikwa; Bornface Mwalimu  Chisaka; Benjamin  Madzivire; Eunice  Goshomi

doi:10.59413/ajocs/v5.i.3.5

Authors

Primrose Nyakuwanikwa Women university in Africa Author https://orcid.org/0009-0001-6884-300X
Bornface Mwalimu Chisaka women university if Africa Author
Benjamin Madzivire Author
Eunice Goshomi Women University in Africa Author https://orcid.org/0000-0001-6457-2313

DOI:

https://doi.org/10.59413/ajocs/v5.i.3.5

Keywords:

Antecedents, Retail Banking, Switching Behaviour, Brand Image, Brand Loyalty, Zimbabwe

Abstract

The purpose of this research is to examine the antecedents of the behavioural intention of consumers to switch a retail bank for another in Zimbabwe. The study used positivism research philosophy where quantitative data was collected from a purposively chosen sample of 150 participants. Data was analyzed using logistic regression equation with two dependent variables. Our study confirms the probability of switching retail banks in Zimbabwe was driven by factors such as; brand image, changing demographics, brand loyalty, brand image, ease of use, and the perceived usefulness. The recommends that retail banks should invest more in building brand image to retain loyal customers. A combination of technological innovations and transaction cost reductions could help to increase brand loyalty, brand image, and the attraction of new customers while retaining the old ones. The study contributes to the literature on bank switching behaviour by pioneering the use of binary choice models.

Downloads

Download data is not yet available.

References

Ahmed, U.Z. and Al-Kwifi, O.S. (2014), “CHALCO: building a global brand while passing industry crisis”, Journal of Technology Management in China, Vol. 9 No. 1, pp. 75-90. DOI: https://doi.org/10.1108/JTMC-10-2013-0037

Ajzen, Icek. (1991). The theory of planned behaviour. Organizational Behaviour and Human Decision Processes, Vol 50, 179-211. DOI: https://doi.org/10.1016/0749-5978(91)90020-T

Anderson, E. and Sullivan, M.W. (1993), “The antecedents and consequences of customer satisfaction for firms”, Marketing Science, Vol. 12 No. 2, pp. 125-143. DOI: https://doi.org/10.1287/mksc.12.2.125

Anderson, E., Fornell, C. and Lehmann, D. (1994), “Customer satisfaction, market share, and profitability”, Journal of Marketing, Vol. 58 No. 3, pp. 53-66. DOI: https://doi.org/10.1177/002224299405800304

Antoni, X. Matchaba-Hove, T. Mathiyase, K. (2019). The influence of non-traditional banks actions on client switching behaviour. Business Studies Journal, 11 (6).12-26.

Appiah, D. Howell, K.E. Ozuem, W. Lancaster, G. (2019). Building resistance to brand switching during disruptions in a competitive market. Services, 50: 249-257. DOI: https://doi.org/10.1016/j.jretconser.2019.05.012

Bandura, A. (1982). Self-efficacy mechanism in human agency. American psychologist, 37(2), 122. DOI: https://doi.org/10.1037//0003-066X.37.2.122

Bansal, H.S. Taylor, S.F. (1999). The Service-Provider Switching Model (SPSM): A Model of Consumer Switching Behaviour in the Services Industry. Journal of Service Research, 2: 200-218. DOI: https://doi.org/10.1177/109467059922007

Bansal, H.S., Taylor, F. and Shirley, J.Y. (2005), “Migrating to new service providers: toward a unifying framework of consumers’ switching behaviors”, Journal of the Academy of Marketing Science, Vol. 33 No. 1, pp. 96-115. DOI: https://doi.org/10.1177/0092070304267928

Bayus, L.B. (1991), “The consumer durable replacement buyer”, Journal of Marketing, Vol. 55 No. 1, pp. 42-51. DOI: https://doi.org/10.1177/002224299105500104

Bayus, L.B. (1992), “Brand loyalty and marketing strategy: an application to home appliances”, Marketing Science, Vol. 11 No. 1, pp. 21-38. DOI: https://doi.org/10.1287/mksc.11.1.21

Bayus, L.B. (1994), “Are product life cycles really getting shorter? Journal of Product Innovation Management, Vol. 11 No. 4, pp. 300-308. DOI: https://doi.org/10.1016/0737-6782(94)90085-X

Bell, S.J., Auh, S. and Smalley, K. (2005), “Customer relationship dynamics: service quality and customer loyalty in the context of varying levels of customer expertise and switching costs”, Journal of the Academy of Marketing Science, Vol. 33 No. 2, pp. 169-183. DOI: https://doi.org/10.1177/0092070304269111

Burnham, A.T., Frels, J.K. and Vijay, M. (2003), “Consumer switching costs: a typology, antecedents, and consequences”, Academy of Marketing Science, Vol. 31 No. 2, pp. 109-126. DOI: https://doi.org/10.1177/0092070302250897

Cai, R. Lu, L. Gursoy, D. (2018) Effect of disruptive customer behaviours on others’ overall service experience: An appraisal theory perspective. Tourism Management, 69: 330-344. DOI: https://doi.org/10.1016/j.tourman.2018.06.013

Cameron, A. C., P. K. Trivedi. 2009. Microeconometrics Using Stata. Stata Press, College Station, TX.

Casula, M. Rangarajan, N. Shields, P. (2021) The potential of working hypotheses for deductive exploratory research. Quality and Quantity, 55: 1703-1725. DOI: https://doi.org/10.1007/s11135-020-01072-9

Colgate, M. and Lang, B. (2001), “Switching barriers in consumer markets: an investigation of the financial services industry”, Journal of Consumer Marketing, Vol. 18 No. 4, pp. 332-347. DOI: https://doi.org/10.1108/07363760110393001

Crosby, L. and Stephens, N. (1987), “Effects of relationships marketing on satisfaction, retention, and price in the life insurance industry”, Journal of Marketing Research, Vol. 24 No. 4, pp. 404-411. DOI: https://doi.org/10.1177/002224378702400408

De Ruyter, K., Van Birgelen, M., & Wetzels, M. (1998). Consumer ethnocentrism in international services marketing. International Business Review, 7(2), 185-202. DOI: https://doi.org/10.1016/S0969-5931(98)00005-5

Fishbein, M. & Ajzen, I., (1975). A Bayesian analysis of attribution processes. Psychological bulletin, 82(2), 261. DOI: https://doi.org/10.1037/h0076477

Fornell, C., & Wernerfelt, B. (1987). Defensive marketing strategy by customer complaint management: a theoretical analysis. Journal of Marketing research, 24(4), 337-346. DOI: https://doi.org/10.1177/002224378702400401

Ganesh, J., Arnold, M. J., & Reynolds, K. E. (2000). Understanding the customer base of service providers: An examination of the differences between switchers and stayers. Journal of marketing, 64(3), 65-87. DOI: https://doi.org/10.1509/jmkg.64.3.65.18028

Jain, R., Jain, S., & Dhar, U. (2002). Measuring customer relationship management. Journal of Services Research, 2(2), 97.

Jones, M. A., Mothersbaugh, D. L., & Beatty, S. E. (2000). Switching barriers and repurchase intentions in services. Journal of retailing, 76(2), 259-274. DOI: https://doi.org/10.1016/S0022-4359(00)00024-5

Keaveney, S. M., & Parthasarathy, M. (2001). Customer switching behavior in online services: An exploratory study of the role of selected attitudinal, behavioral, and demographic factors. Journal of the academy of marketing science, 29(4), 374-390. DOI: https://doi.org/10.1177/03079450094225

Kim, S., Haley, E., & Koo, G. Y. (2009). Comparison of the paths from consumer involvement types to ad responses between corporate advertising and product advertising. Journal of advertising, 38(3), 67-80. DOI: https://doi.org/10.2753/JOA0091-3367380305

Klemperer, P. (1987). Entry deterrence in markets with consumer switching costs. The Economic Journal, 97(Supplement), 99-117. DOI: https://doi.org/10.2307/3038233

Lam, S. K., Ahearne, M., Hu, Y., and Schillewaert, N. (2010). Resistance to brand switching when a radically new brand is introduced: A social identity theory perspective. Journal of Marketing, 74 (6): 128-146. DOI: https://doi.org/10.1509/jmkg.74.6.128

Lemon, K. N., White, T. B., & Winer, R. S. (2002). Dynamic customer relationship management: Incorporating future considerations into the service retention decision. Journal of marketing, 66(1), 1-14. DOI: https://doi.org/10.1509/jmkg.66.1.1.18447

Liu, X., He, M., Gao, F., & Xie, P. (2008). An empirical study of online shopping customer satisfaction in China: a holistic perspective. International Journal of Retail & Distribution Management, 36(11), 919-940. DOI: https://doi.org/10.1108/09590550810911683

Locke, E. A., Mento, A. J., & Katcher, B. L. (1978). The Interaction of Ability and Motivation in Performance: An Exploration of the Meaning of Moderators 1. Personnel Psychology, 31(2), 269-280. DOI: https://doi.org/10.1111/j.1744-6570.1978.tb00446.x

Mackay, N. Major, R.K. (2017) Predictors of customer loyalty in the South African retail banking industry. Journal of Contemporary Management, 14 (1): 12-35.

Manzoor, U. Baig, S.A. Usman, M. Shahid, M.I. (2020) Factors affecting brand switching behaviour in telecommunication: a quantitative investigation in Faisalabad region. Journal of Marketing and Information Systems, 3 (1): 12-34. DOI: https://doi.org/10.31580/jmis.v3i1.1485

Nyakuwanikwa, P., Chisaka, B. M., Madzivire, B., & Goshomi, E. (2024). Customer Bank Switching Behaviour in Zimbabwe’s Retail Banking Sector of Zimbabwe. African Journal of Commercial Studies, 5(3), 143-156. DOI: https://doi.org/10.59413/ajocs/v5.i.3.1

Pae, J. H., & Hyun, J. S. (2006). Technology advancement strategy on patronage decisions: the role of switching costs in high-technology markets. Omega, 34(1), 19-27. DOI: https://doi.org/10.1016/j.omega.2004.07.019

Ping, R.A. (1993), “The effects of satisfaction and structural constraints on retailer exiting, voice, loyalty, opportunism, and neglect”, Journal of Retailing, Vol. 69 No. 3, pp. 320-352. DOI: https://doi.org/10.1016/0022-4359(93)90010-G

Ping, R.A. (1997), “Voice in business-to-business relationships: cost of exit and demographic antecedents”, Journal of Retailing, Vol. 73 No. 2, pp. 261-281. DOI: https://doi.org/10.1016/S0022-4359(97)90006-3

Raju, P.S. (1984), “Exploratory brand switching: an empirical examination of its determinants”, Journal of Economic Psychology, Vol. 5 No. 3, pp. 201-221. DOI: https://doi.org/10.1016/0167-4870(84)90023-0

Ranganathan, C., Seo, D. and Babad, Y. (2006), “Switching behavior of mobile users: do user’s relational investments and demographics matter?”, European Journal of Information Systems, Vol. 15 No. 3, pp. 269-276. DOI: https://doi.org/10.1057/palgrave.ejis.3000616

Rust, R. T., & Zahorik, A. J. (1993). Customer satisfaction, customer retention, and market share. Journal of retailing, 69(2), 193-215. DOI: https://doi.org/10.1016/0022-4359(93)90003-2

Seiders, K., Voss, G. B., Grewal, D., & Godfrey, A. L. (2005). Do satisfied customers buy more? Examining moderating influences in a retailing context. Journal of marketing, 69(4), 26-43. DOI: https://doi.org/10.1509/jmkg.2005.69.4.26

Senanu, B., & Narteh, B. (2023). Banking sector reforms and customer switching intentions: Evidence from the Ghanaian banking industry. Journal of Financial Services Marketing, 28(1), 15-29. DOI: https://doi.org/10.1057/s41264-021-00135-8

Sharma, N., & Patterson, P. G. (2000). Switching costs, alternative attractiveness and experience as moderators of relationship commitment in professional, consumer services. International journal of service industry management, 11(5), 470-490. DOI: https://doi.org/10.1108/09564230010360182

Sharma, R. (2022) A Study on Innovation in Banking and its Impact on Customer Satisfaction. Integrated Journal for Research in Arts and Humanities, Vol 2 (3):1-26. DOI: https://doi.org/10.55544/ijrah.2.3.38

Shukla, P. (2004). Effect of product usage, satisfaction and involvement on brand switching behaviour. Asia pacific journal of marketing and logistics, 16(4), 82-104. DOI: https://doi.org/10.1108/13555850410765285

Trijp, H. C. V., Hoyer, W. D., & Inman, J. J. (1996). Why switch? product category–level explanations for true variety-seeking behavior. Journal of marketing research, 33(3), 281-292. DOI: https://doi.org/10.1177/002224379603300303

Trivedi, M., & Morgan, M. S. (1996). Brand‐specific heterogeneity and market‐level brand switching. Journal of Product & Brand Management, 5(1), 29-39. DOI: https://doi.org/10.1108/10610429610113393

Yani‐de‐Soriano, M., & Slater, S. (2009). Revisiting Drucker's theory: Has consumerism led to the overuse of marketing?. Journal of Management History, 15(4), 452-466. DOI: https://doi.org/10.1108/17511340910987347

Zouari, G., & Abdelhedi, M. (2021). Customer satisfaction in the digital era: evidence from Islamic banking. Journal of Innovation and Entrepreneurship, 10, 1-18. DOI: https://doi.org/10.1186/s13731-021-00151-x