nach oben

Service Business

Erschienen in:

01.03.2016 | Empirical article

From customer motivation to corporate performance. The role of strategic factors and distribution channels of financial service firms

verfasst von: J. Augusto Felício, Carlos Robalo Freire

Erschienen in: Service Business | Ausgabe 1/2016

Einloggen

Aktivieren Sie unsere intelligente Suche, um passende Fachinhalte oder Patente zu finden.

search-config

KI-gestützte Suche

Aus

Abstract

This research analyzes the relationship between strategic factors and distribution channels and the performance of financial service firms, based on the theory of distribution channels and the resource-based view. Using structural equation modeling, the study examines a sample of 252 insurance firms operating in the Iberian Peninsula. The empirical analysis provides conclusive evidence that strategic factors have an influence on the firm’s distribution channels and performance. It also confirms that internal and external determinant factors as well as customer motivation have an influence on strategic factors.

Vorheriger Artikel Influence of customer–firm relationships on customer participation in the service industry

Nächster Artikel Effects of hospital leadership, organizational systems, and ESWOS on medical error reduction

Sie haben noch keine Lizenz? Dann Informieren Sie sich jetzt über unsere Produkte:

Springer Professional "Wirtschaft+Technik"

Online-Abonnement

Mit Springer Professional "Wirtschaft+Technik" erhalten Sie Zugriff auf:

über 102.000 Bücher
über 537 Zeitschriften

aus folgenden Fachgebieten:

Automobil + Motoren
Bauwesen + Immobilien
Business IT + Informatik
Elektrotechnik + Elektronik
Energie + Nachhaltigkeit
Finance + Banking
Management + Führung
Marketing + Vertrieb
Maschinenbau + Werkstoffe
Versicherung + Risiko

Jetzt Wissensvorsprung sichern!

Jetzt informieren

Springer Professional "Wirtschaft"

Online-Abonnement

Mit Springer Professional "Wirtschaft" erhalten Sie Zugriff auf:

über 67.000 Bücher
über 340 Zeitschriften

aus folgenden Fachgebieten:

Bauwesen + Immobilien
Business IT + Informatik
Finance + Banking
Management + Führung
Marketing + Vertrieb
Versicherung + Risiko

Jetzt Wissensvorsprung sichern!

Jetzt informieren

Achrol R, Stern L (1988) Environmental determinants of decision-making uncertainty in marketing channels. J Mark Res 25:36–50CrossRef

Achrol R, Reve T, Stern L (1983) The environmental of marketing channels: a framework for comparative analysis. J Mark 47:55–67CrossRef

Anderson E, Coughlan AT (1987) International market entry and expansion via independent or integrated channels of distribution. J Mark 51:71–82

Arbuckle J, Wothke W (1999) Amos 4.0 user’s guide. SPSS, Chicago

Arena M (2008) Does insurance market activity promote economic growth? A cross-country study for industrialized and developing countries. J Risk Insur 75:921–946CrossRef

Aulakh S, Kotabe M (1997) Antecedents and performance implications of channel integration in foreign markets. J Int Bus Stud 28:145–175CrossRef

Balasubramanian S, Raghunathan R, Mahajan V (2005) Consumers in a multichannel environment: product utility, process utility, and channel choice. J Interact Mark 19:12–30CrossRef

Ball D, Coelho P, Machás A (2004) The role of communication and trust in explaining customer loyalty: an extension to the ECSI model. Eur J Mark 38:1272–1293CrossRef

Barras R (1986) Towards a theory of innovation in services. Res Policy 15:161–173CrossRef

Beard D, Dess G (1981) Corporate-level strategy, business-level strategy, and firm performance. Acad Manag J 24:663–688CrossRef

Beck T, Webb I (2003) Economic, demographic, and institutional determinants of life insurance consumption across countries. World Bank Econ Rev 17:51–88CrossRef

Beckett A (2000) Strategic and marketing implications of consumer behaviour in financial services. Serv Ind J 20:191–208CrossRef

Berger A, Demsetz R, Strahan P (1999) The consolidation of the financial services industry: causes, consequences, and implications for the future. J Bank Financ 23:135–194CrossRef

Berman B, Thelen S (2004) A guide to developing and managing a well integrated multi-channel retail strategy. Int J Retail Distrib Manag 32:147–156CrossRef

Bichou K, Bell M (2007) Internationalisation and consolidation of the container port industry: assessment of channel structure and relationships. Marit Econ Logist 9:35–51CrossRef

Biergelen M, Jong A, Ruyter K (2006) Multi-channel service retailing: the effects of channel performance satisfaction on behavioural intentions. J Retail 82(4):367–377CrossRef

Bolton R (1998) A dynamic model of the duration of the customers relationship with a continuous service provider: the role of satisfaction. Mark Sci 17:45–65CrossRef

Brown J, Lusch R, Nicholson C (1995) Power and relationship commitment: their impact on marketing channel performance. J Retail 71:363–392CrossRef

Browne M, Cudeck R (1993) Alternative ways of assessing model fit. In: Bollen KA, Long J (eds) Testing structural equation models. Sage, Beverly Hills

Bucklin L, Ramaswamy V, Majumdar S (1996) Analyzing channel structures of business markets via the structure-output paradigm. Int J Res Mark 13:73–87CrossRef

Buzzell R, Gale B (1987) The PIMS principles (profit impact of market strategy). Free Press, London

Cercola R, Coletti M (1996) La empresa que asegura a sus clientes: actores, procesos y estrategias para la gestióndelcambioen las empresas de seguros. FundaciónMapfre, Madrid

Cespedes F (1988) Channel management is general management. Calif Manag Rev 31:98–120CrossRef

Cespedes F (1998) Control vs. resources in channel design. Ind Mark Manag 17:215–227CrossRef

Chaganti R, Damanpour F (1991) Institutional ownership, capital structure, and firm performance. Strateg Manag J 12:479–491CrossRef

Cheng Y, Chang H (2009) The maximum priority index method for severely constrained item selection in computerized adaptive testing. Br J Math Stat Psychol 62:369–383CrossRef

Choi B, Weiss M (2005) An empirical investigation of market structure, efficiency, and performance in property-liability insurance. J Risk Insur 72:271–296CrossRef

Coelho F, Easingwood C (2003) Multiple channel structures in financial services: s framework. J Financ Serv Mark 8(1):22–34CrossRef

Coelho F, Easingwood C (2005) Determinants of multiple channel choice in financial services: an environmental uncertainty model. J Serv Mark 19:199–211CrossRef

Coelho F, Easingwood C (2008) A model of the antecedents of multiple channel usage. J Retail Consum Serv 15:32–41CrossRef

Coelho F, Easingwood C, Coelho A (2003) Exploratory evidence of channel performance in single vs multiple channel strategies. Int J Retail Distrib Manag 31:561–573CrossRef

Combs J, Ketchen D (1999) Explaining interfirm cooperation and performance: towards a reconciliation of predictions from the resource-based view and organizational economics. Strateg Manag J 20:49–68CrossRef

Coughlan A, Anderson E, Stern L (2001) Marketing channels. Prentice Hall, New York

Cruz M (2000) Fundamentos do processo de decisão estratégica na indústria seguradora portuguesa. Instituto Universitário de Lisboa, Lisboa

Das T, Teng B (2000) A resource-based theory of strategic alliances. J Manag 16(1):31–61

Devlin J (2001) Consumer evaluation and competitive advantage in retail financial services. Eur J Mark 35:639–660CrossRef

Donsimoni M, Geroski P, Jacquemin A (1984) Concentration indices and market power: two views. J Ind Econ 32:419–434CrossRef

Durvasula S, Lysonski S, Mehta S (2004) Forging relationships with services: the antecedents that have an impact on behaviourial outcomes in the life insurance industry. J Financ Serv Mark 8:314–326CrossRef

Easingwood C, Storey C (1996) Determinants of new product performance: a study in the financial services sector. Int J Serv Ind Manag 7:32–55

Eckhardt G, Belk R, Devinney T (2010) Why don’t consumers consume ethically? J Consum Behav 9:426–436CrossRef

Engle J, Blackwell R, Miniard P (1995) Consumer Behavior, 8th edn. The Dryden Press, Orlando

Etgar M (1978) Selection of an effective channel control mix. J Mark 42:53–58CrossRef

Flier B, Bosch F, Volberda H, Carnevale C, Tomkin N, Melin L, Quélin B, Kriger M (2001) Landscape of the european financial services sector. Long Range Plan 34:179–207CrossRef

Frazier G (1999) Organizing and managing channels of distribution. J Acad Mark Sci 27:226–240CrossRef

Frazier GL, Gill JD, Kale SH (1989) Dealer dependence levels and reciprocal actions in a channel of distribution in a developing country. J Mark 53(1):50–69CrossRef

Froot K (2007) Risk management, capital budgeting, and capital structure policy for insurers and reinsurers. J Risk Insur 74:273–299CrossRef

Gamarra-Trigo L (2007) Single- versus multi-channel distribution strategies in the german life insurance market: a cost and profit efficiency analysis. Thuenen-Series of Applied Economic Theory 81. University of Rostock, Institute of Economics, Germany

Gamarra-Trigo L (2008) Reasons for the coexistence of different distribution channels: an empirical test for the German insurance market. Geneva Pap 33:389–407

Garver M (2003) Best practices in identifying customer-driven improvement opportunities. Ind Mark Manag 32:455–466CrossRef

Gassenheimer J, Hunter G, Siguaw J (2006) An evolving theory of hybrid distribution: taming a hostile supply network. Ind Mark Manag 36:604–616CrossRef

Gensler S, Dekimpe MG, Skiera B (2007) Evaluating channel performance in multi-channel environments. J Retail Consum Serv 14(1):17–23CrossRef

Guillén M, Nielsen J, Pérez-Marín A (2008) The need to monitor customer loyalty and business risk in the European insurance industry. Geneva Pap Risk Insur Issues Pract 33:207–218CrossRef

Gupta S, Hanssens D, Hardie B, Kahn W, Kumar V, Lin N, Ravishanker N, Sriram S (2006) Modeling customer lifetime value. J Serv Res 9:139–155CrossRef

Hill M, Hill A (2008) InvestigaçãoporQuestionário. Lisboa, EdiçõesSílabo

Hong S, Tam K (2006) Understanding the adoption of multipurpose information appliances: the case of mobile data services. Inf Syst Res 17:162–179CrossRef

Howcroft J, Lavis J (1984) Retail bank strategy for the London clearing banks. Serv Ind J 7:411–412

Hu L, Bentler P (1999) Cut-off criteria for fit indices in covariance structure analysis: conventional criteria versus new alternatives. Struct Equ Model 6:1–55CrossRef

Hughes T (2006) New channels/old channels: customer management and multi-channels. Eur J Mark 40:113–129CrossRef

Hyvönen S, Tuominen M (2007) Channel collaboration, market orientation and performance advantages: discovering developed and emerging markets. Int Rev Retail Distrib Consum Res 17(5):423–445CrossRef

Kabadayi S (2007) The performance implications of designing multiple channels to fit with strategy and environment. J Mark 71:195–211CrossRef

Kemp R, Folkeringa M, de Jong J, Wubben E (2003) Innovation and firm performance. Research Report 200207, Netherlands, EIM, 2003

Kim K, Frazier G (1996) A typology of distribution channel systems: a contextual approach. Int Mark Rev 13:19–32CrossRef

Kimber C (2001) Strategic integration of customer and channels. J Financ Serv Mark 5:332–336CrossRef

Kline R (1998) Principles and practices of structural equation modelling. Guilford Press, Nova Iorque

Klumpes P (2004) Performance benchmarking in financial services: evidence from the UK life insurance industry. J Bus 2:257–274CrossRef

Liu T, Wu L (2007) Customer retention and cross-buying in the banking industry: an integration of service attributes satisfaction and trust. J Financ Serv Mark 12:132–145CrossRef

Maas P, Graf A (2008) Customer value analysis in financial services. J Financ Serv Mark 13:107–120CrossRef

Mahoney J, Pandian J (1992) The resource-based view within the conversation of strategic management. Strateg Manag J 13:363–380CrossRef

Majumdar S, Ramaswamy V (1995) Going direct to market: the influence of exchange conditions. Strateg Manag J 16:353–372CrossRef

Martin-Consuegra D, Molina A, Esteban A (2007) An integrated model of price, satisfaction and loyalty. J Prod Brand Manag 18(7):459–468

Mehra A (1996) Resource and market based determinants of performance in the U.S. banking industry. Strateg Manag J 17:307–322CrossRef

Mehta R, Larsen T, Rosenbloom B (1996) The influence of leadership style on co-operation in channels of distribution. Int J Phys Distrib Logist Manag 26:32–59CrossRef

Mehta R, Dubinsky A, Anderson R (2002) Marketing channel management and the sales manager. Ind Mark Manag 31:429–439CrossRef

Menon K, O’Connor A (2007) Building customers affective commitment towards retail banks: the role of CRM in each moment of truth. J Financ Serv Mark 12:157–168CrossRef

Molm L, Takahashi N, Peterson G (2003) In the eye of the beolder: procedural justice in social exhange. Am Sociol Rev 68:128–152CrossRef

Morgan N, Rego L (2009) Brand portfolio strategy and firm performance. J Mark 73:59–74CrossRef

Mougeot M, Naegelen F (2009) Adverse selection, moral hazard, and outlier payment policy. J Risk Insur 76:177–195CrossRef

Okeahalam C (2008) Does bancassurance reduce the price of financial service products? J Financ Serv Res 33:147–162CrossRef

Parment A (2008) Distribution strategies for volume and premium brands in highly competitive consumer markets. J Retail Consum Serv 15:250–265CrossRef

Pasquali L (2003) Psicometria teoria dos testes na psicologia e na educação. Petrópolis, Ed Vozes

Payne A, Frow P (2004) The role of multichannel integration in customer relationship management. Ind Mark Manag 33:527–538CrossRef

Pennings J, Wansink B (2004) Channel contract behaviour: the role of risk attitudes, risk perceptions and channel members market structures. J Bus 77:697–724CrossRef

Pérez M, Descals A (1999) Insights into closeness of relationship as determinant of trust within marketing channels. J Mark Channels 7:29–50CrossRef

Perterson R (1994) A meta-analysis of cronbachs coefficient alpha. J Consum Res 21:381–391CrossRef

Peters T, Waterman R (1982). In search of excellence: lessons from america´s best run firms. Harper & Row, New York

Pontremoli R (2002) Evolution and innovation in insurance management: the Italian case. Geneva Pap Risk Insur 27:669–687CrossRef

Prahalad C, Hamel G (1990) The core competence of the corporation. Harv Bus Rev 68(3):79–91

Rangan V, Menezes M, Maier E (1992) Channel selection for new industrial products: a framework, method, and application. J Mark 56:69–82CrossRef

Reibstein D, Farris P (1995) Market share and distribution: a generalization, a speculation, and some implications. Mark Sci 14:190–202CrossRef

Rootman C, Tait M, Bosch J (2008) Variables influencing the customer relationship management of banks. J Financ Serv Mark 13(1):52–62CrossRef

Rosenbloom B (2007) Multi-channel strategy in business-to-business markets: prospects and problems. Ind Mark Manag 36:4–9CrossRef

Schumacker R, Lomax R (2001) A beginner’s guide to structural equation modeling. Lawrence Erlbaum Associates, New Jersey

Senge P (2000) Strategies for change leaders; lessons for change leaders, in Leader to Leader. Jossey-Bass, Drucker Foundation

Shah D, Rust R, Parasuraman A, Staelin R, Day G (2006) The path to customer centricity. J Serv Res 9:113–124CrossRef

Shank J, Govindarajan V (1997) Strategic cost management: the new tool for competitive advantage. The Free Press, New York

Shervani T, Frazier G, Challagalla G (2007) The moderating influence of firm market power on the transaction cost economics model: an empirical test in a forward channel integration context. Strateg Manag J 28(6):635–652

Sheth J, Parvatiyar A (eds) (2000) Relationship marketing in consumer markets: antecedents and consequences. In: Handbook of relationship marketing. Sage Publications, Thousand Oaks, pp 171–208

Sheu J, Hu T (2009) Channel power, commitment and performance toward sustainable channel relationship. Ind Mark Manag 38:17–31CrossRef

Shih C, Venkatesh A (2004) Beyond adoption: development and application of a use-diffusion model. J Mark 68:59–72CrossRef

Siebenhüner B, Arnold M (2007) Organizational learning to manage sustainable development. Bus Strateg Environ 16:339–353CrossRef

Solberg C (2008) Product complexity and cultural distance effects on managing international distributor relationships: a contingency approach. J Int Mark 16:57–83CrossRef

Soureli M, Lewis B, Karantinou K (2008) Factors that affect consumers’ cross-buying intention: a model for financial services. J Financ Serv Mark 13:5–16CrossRef

Stern L, Reve T (1980) Distribution channels as political economies: a framework for comparative analysis. J Mark 44:52–64CrossRef

Stern L, El-Ansary A, Coughlan A (1996) Marketing channels. Prentice-Hall, Englewood Cliffs

Teece D (1992) Competition, cooperation, and innovation: organizational arrangements for regimes of rapid technological progress. J Econ Behav Organ 18:1–25CrossRef

Tsay A, Agrawal N (2004) Channel conflict and coordination in the e-commerce age. Prod Oper Manag 13:93–110CrossRef

Ullman J (2001) Structural equation modeling. In: Tabachnick BG, Fidell LS (Eds) Using multivariate statistics, Ally & Bacon, Boston

Wagner S, Lindemann E (2008) Determinants of value sharing in channel relationships. J Bus Ind Manag 23:544–553

Wallace D, Giese J, Johnson J (2004) Customer retailer loyalty in the context of multiple channel strategies. J Retail 80(4):249–263CrossRef

Wan W, Yiu D (2009) From crisis to opportunity: environmental jolt, corporate acquisitions, and firm performance. Strateg Manag J 30:791–801CrossRef

Webb KL, Hogan JE (2002) Hybrid channel conflict: causes and effects on channel performance. J Bus Ind Mark 17(5):338–356CrossRef

Weiss M, Voss G, Grewal D (2003) Determinants of online channel use and overall satisfaction with a relational multichannel service provider. J Acad Mark Sci 31:448–458CrossRef

Wiersema M, Bantel K (1992) Top management team demography and corporate strategic change. Acad Manag J 35:91–121CrossRef

Wilkinson I (2001) A history of network and channels thinking in marketing in the 20th century. Aust J Mark 9:23–53CrossRef

Woo C, Willard G (1983) Performance representation in business policy research: discussion and recommendation. Paper Presented at the 23rd annual national meetings of the academy of management, Dallas

Zettelmeyer F (2000) Expanding to the internet: pricing and communications strategies when firms compete on multiple channels. J Mark Res 37:292–308CrossRef

Titel: From customer motivation to corporate performance. The role of strategic factors and distribution channels of financial service firms
verfasst von: J. Augusto Felício
Carlos Robalo Freire
Publikationsdatum: 01.03.2016
Verlag: Springer Berlin Heidelberg
Erschienen in: Service Business / Ausgabe 1/2016
Print ISSN: 1862-8516
Elektronische ISSN: 1862-8508
DOI: https://doi.org/10.1007/s11628-014-0260-z

Springer Professional

Abstract

Bitte loggen Sie sich ein, um Zugang zu Ihrer Lizenz zu erhalten.

Sie haben noch keine Lizenz? Dann Informieren Sie sich jetzt über unsere Produkte:

Springer Professional "Wirtschaft+Technik"

Springer Professional "Wirtschaft"

Weitere Artikel der Ausgabe 1/2016

The effect of consumer values on the brand position of green restaurants by means-end chain and laddering interviews

Influence of customer–firm relationships on customer participation in the service industry

Effects of hospital leadership, organizational systems, and ESWOS on medical error reduction

Hospital career management systems and their effects on the psychological state and career attitudes of nurses

How online service recovery approaches bolster recovery performance? A multi-level perspective

Erratum to: Revisiting media selection in the digital era: adoption and usage