Adding value to retail financial services
Abstract
Explores practitioner views as to how to formulate strategies for adding value and, hence, gain competitive advantage, given the characteristics of many services and the resultant implications for consumer evaluation of offerings. In particular, the case of retail financial services exhibiting increased complexity, intangibility and impalpability in the eyes of most consumers. Finds that the features and quality of the core service provided are judged by managers to be more important in adding value to more complex services, as are organisational factors such as image and reputation. Price is perceived to be significantly more important in adding value to more simple, rather that complex, offering. Presents conclusions and explores managerial implications.
Integrity signals
Registry
Cites
Statistics
Claims the paper makes
Claims other papers make about this one
Each is checked against this paper’s own text: does it say what the citing paper says it does?
Several studies stressed the relevance of financial service company's reputation/image, service quality performance, fairness, and affective experiences as strategic factors in explaining customer retention, repurchase intentions and loyalty.
“Several studies have stressed the relevance of financial service company’s reputation/image (Boyle 1996; Worcester 1997; Devlin 1997; Nguyen and LeBlanc 2002; Wang et al. 2003), service quality performance (Siddiqui and Sharma 2010; Tsoukatos and Rand 2006), fairness (Page and Fearn 2005) and affective experiences (Hellier et al. 2003; Taylor 2001) as strategic factors in explaining customer reten”
From Health insurance policy renewal: an exploration of reputation, performance, and affect to understand customer inertia (2022) · cites this paper as Devlin 1997
Cites
Firm Resources and Sustained Competitive Advantage
Barney, J. (1991) · Journal of Management · doi:10.1177/014920639101700108 · Cited by 48,334 · see citing works
Firm resources and sustained competitive advantage
Barney, J. B. (2004) · Advances in strategic management · doi:10.1016/s0742-3322(00)17018-4 · Cited by 38,159 · see citing works
A resource‐based view of the firm
Wernerfelt, B. (1984) · Strategic Management Journal · doi:10.1002/smj.4250050207 · Cited by 25,635 · see citing works
A conceptual model of service quality and its implications for future research
Parasuraman, A., Zeithaml, V. A., & Berry, L. L. (1985) · Journal of Marketing · doi:10.1177/002224298504900403 · Cited by 21,645 · see citing works
SERVQUAL: A multiple-Item Scale for measuring consumer perceptions of service quality
Parasuraman, A., Berry, L. L., & Zeithaml, V. A. (1988) · Zenodo · doi:10.5281/zenodo.14579729 · Cited by 21,118 · see citing works
Consumer Perceptions of Price, Quality, and Value: A Means-End Model and Synthesis of Evidence
Zeithaml, V. A. (1988) · Journal of Marketing · doi:10.1177/002224298805200302 · Cited by 18,292 · see citing works
Competitive Strategy: Techniques for Analyzing Industries and Competitors
(1980) · Journal of Sustainable Competitive Intelligence · doi:10.24883/iberoamericanic.v2i2.38 · Cited by 16,592 · see citing works
The cornerstones of competitive advantage: A resource‐based view
Peteraf, M. A. (1993) · Strategic Management Journal · doi:10.1002/smj.4250140303 · Cited by 10,743 · see citing works
Management research: An introduction
(1992) · Long Range Planning · doi:10.1016/0024-6301(92)90354-5 · Cited by 3,036 · see citing works
The Comparative Advantage Theory of Competition
Hunt, S. D., & Morgan, R. M. (1995) · Journal of Marketing · doi:10.1177/002224299505900201 · Cited by 2,727 · see citing works
UNDERSTANDING CUSTOMER EXPECTATION OF SERVICE
(1991) · Cited by 1,479 · see citing works
Gregory, S. (1985) · Design Studies · doi:10.1016/0142-694x(85)90029-8 · Cited by 1,177 · see citing works
Bharadwaj, S. G., Fahy, J., & Varadarajan, P. R. (2014) · Developments in marketing science: proceedings of the Academy of Marketing Science · doi:10.1007/978-3-319-13248-8_90 · Cited by 1,115 · see citing works
The Comparative Advantage Theory of Competition
Hunt, S. D., & Morgan, R. M. (1995) · Journal of Marketing · doi:10.2307/1252069 · Cited by 997 · see citing works
SERVICE QUALITY: THE SIX CRITERIA OF GOOD PERCEIVED SERVICE QUALITY
Grönroos, C. (1988) · Cited by 856 · see citing works
Porter, M. E. (1997) · Measuring Business Excellence · doi:10.1108/eb025476 · Cited by 779 · see citing works
Bharadwaj, S. G., Varadarajan, P. R., & Fahy, J. (1993) · Journal of Marketing · doi:10.2307/1252221 · Cited by 527 · see citing works
(1986) · European Management Journal · doi:10.1016/s0263-2373(86)80049-4 · Cited by 435 · see citing works
Information asymmetries: A source of competitive advantage for diversified service firms
Nayyar, P. R. (1990) · Strategic Management Journal · doi:10.1002/smj.4250110703 · Cited by 297 · see citing works
Quality in the Service Sector: A Review
Lewis, B. R. (1989) · International Journal of Bank Marketing · doi:10.1108/02652328910134590 · Cited by 245 · see citing works
Fredendall, L. D., & Hill, E. (2015) · CRC Press eBooks · doi:10.1081/e-escm-120048064 · Cited by 231 · see citing works
Competitive marketing strategy
Czepiel, J. A. (1992) · Prentice Hall eBooks · Cited by 108 · see citing works
Understanding competitive advantage in retail financial services
Devlin, J., & Ennew, C. (1997) · International Journal of Bank Marketing · doi:10.1108/02652329710165984 · Cited by 90 · see citing works
Self-citationOn Being Stuck in the Middle or Good Food Costs Less at Sainsbury's
Cronshaw, M., Davis, E., & Kay, J. (1994) · British Journal of Management · doi:10.1111/j.1467-8551.1994.tb00066.x · Cited by 66 · see citing works
How Firms Compete: A New Classification of Generic Strategies
Mathur, S. S. (1988) · Journal of General Management · doi:10.1177/030630708801400103 · Cited by 66 · see citing works
Competitive and corporate strategy
(1998) · Long Range Planning · doi:10.1016/s0024-6301(98)90269-2 · Cited by 60 · see citing works
Core competence, cmpetitive advantage and market analysis : Forging the links
Verdin, P. J., & Williamson, P. J. (1997) · Lirias · Cited by 58 · see citing works
Talking straight about competitive strategy
Mathur, S. S. (1992) · Journal of Marketing Management · doi:10.1080/0267257x.1992.9964192 · Cited by 57 · see citing works
Organizational positioning in retail financial services
Devlin, J. F., Ennew, C., & Mirza, M. (1995) · Journal of Marketing Management · doi:10.1080/0267257x.1995.9964333 · Cited by 51 · see citing works
Self-citationOh Mr Porter! A Re‐Appraisal of Competitive Strategy
Speed, R. (1989) · Marketing Intelligence & Planning · doi:10.1108/eum0000000001043 · Cited by 38 · see citing works
Bowman, C. (1991) · OpenGrey (Institut de l'Information Scientifique et Technique) · Cited by 23 · see citing works
Single competitive markets in retail financial services
Devlin, J. F. (1996) · Journal of Marketing Management · doi:10.1080/0267257x.1996.9964439 · Cited by 6 · see citing works
Self-citation
Flagged first, then by citations
Cited by
Sorted by citations
A model of customer loyalty in the retail banking market
Palacio, A. B., Martín, J. D., & Quintana, A. (2004) · European Journal of Marketing · doi:10.1108/03090560410511221 · Cited by 567 · see citing works
Augusto, M., & Torres, P. (2018) · Journal of Retailing and Consumer Services · doi:10.1016/j.jretconser.2018.01.005 · Cited by 189 · see citing works
Critical competitive methods, generic strategies, and firm performance
Powers, T. L., & Hahn, W. G. (2004) · International Journal of Bank Marketing · doi:10.1108/02652320410514924 · Cited by 121 · see citing works
Customer perceptions of the value delivered by retail banks in South Africa
Bick, G., Brown, A. B., & Abratt, R. (2004) · International Journal of Bank Marketing · doi:10.1108/02652320410549638 · Cited by 70 · see citing works
Torres, P., & Augusto, M. (2018) · Journal of Business Research · doi:10.1016/j.jbusres.2018.11.045 · Cited by 66 · see citing works
Improving consumers’ willingness to pay using social media activities
Torres, P., Augusto, M., & Wallace, E. (2018) · Journal of Services Marketing · doi:10.1108/jsm-07-2017-0257 · Cited by 51 · see citing works
Lee, T., Chung, W., & Taylor, R. E. (2011) · Journal of Services Marketing · doi:10.1108/08876041111129146 · Cited by 47 · see citing works
Financial services advertising in eight non‐English speaking countries
Albers‐Miller, N. D., & Straughan, R. D. (2000) · International Journal of Bank Marketing · doi:10.1108/02652320010359561 · Cited by 45 · see citing works
Harden, G. (2002) · Journal of Financial Services Marketing · doi:10.1057/palgrave.fsm.4770062 · Cited by 39 · see citing works
Kautish, P., Khare, A., & Sharma, R. (2022) · Journal of Marketing Analytics · doi:10.1057/s41270-021-00134-7 · Cited by 25 · see citing works
The impact of the Internet upon bank marketing
Proença, J. F., Silva, M. M., & Fernandes, T. (2010) · Journal of Financial Services Marketing · doi:10.1057/fsm.2010.12 · Cited by 23 · see citing works
Mass Customisation of Services: Benefits and Challenges of Configurable Services
Heiskala, M., Paloheimo, K., & Tiihonen, J. (2005) · Cited by 19 · see citing works
Hoang, Y. H., Nguyen, D. T. T., Tran, L. H. T., Nguyen, N. T. H., & Vu, N. B. T. (2021) · Data Science in Finance and Economics · doi:10.3934/dsfe.2021005 · Cited by 17 · see citing works
Determinants of perceived internal service complexity
Braun, C., & Hadwich, K. (2017) · European Business Review · doi:10.1108/ebr-07-2016-0089 · Cited by 15 · see citing works
Services Marketing Theory Revisited: An Empirical Investigation into Financial Services Marketing
Jan, A. (2012) · IOSR Journal of Business and Management · doi:10.9790/487x-0443645 · Cited by 12 · see citing works
Client-Centricity In South African Retail Banking
Coetzee, J. (2014) · International Business & Economics Research Journal (IBER) · doi:10.19030/iber.v13i5.8767 · Cited by 5 · see citing works
Proença, J. F., & Silva, M. M. (2008) · Portuguese National Funding Agency for Science, Research and Technology (RCAAP Project by FCT) · Cited by 4 · see citing works
The Perceived Value of Higher Education and University Competitiveness - The Rubik Cube Metaphor
Dobre, C., Preda, G., Milovan, A.-M., Naghi, R. I., & Prada, S. I. (2021) · Review of Innovation and Competitiveness · doi:10.32728/ric.2021.71/2 · Cited by 2 · see citing works
MURIUNGI, C. N., & JAGONGO, D. A. O. (2021) · Strategic Journal of Business & Change Management · doi:10.61426/sjbcm.v8i4.2096
Enhancing Employee Satisfaction with Mobility and Transportation Offerings: A Managerial ApproachPreprint
Schwehn, L. H., Heußler, T., & Backhaus, C. (2024) · SSRN Electronic Journal · doi:10.2139/ssrn.4798052
- Authors
- Devlin, J. F.
- Affiliations
- City, University of London (GB)
- Corresponding author
- Devlin, James F.
- ORCID
- Devlin, James F.
- Venue
- Journal of Marketing Practice: Applied Marketing Science
- Publisher
- Emerald
- Published
- 1997-12
- Volume
- 3
- Issue
- 4
- Pages
- 251-267
- ISSN
- 1355-2538 (ISSN-L)
- OpenAlex
- W1987494682
- Cited by
- 20
- References
- 31
- Citations by year
- 2024: 1 · 2021: 4 · 2018: 3 · 2017: 1 · 2014: 1 · 2012: 1
- FWCI
- 0.78
- Type
- journal article
- Language
- en
- Open access
- closed
- Locations
- Journal of Marketing Practice Applied Marketing Science (publishedVersion)
- Topics
- Social Sciences › Business, Management and Accounting › Organizational Behavior and Human Resource Management › Customer Service Quality and Loyalty
- Social Sciences › Business, Management and Accounting › Marketing › Service and Product Innovation
- Social Sciences › Business, Management and Accounting › Marketing › Consumer Behavior and Marketing Influence
- Keywords
- retail financial services, value creation, competitive advantage, service complexity, intangibility, service quality, consumer perception, price perception, service strategy
About these checks
Registry, retraction, Cites and statistics results are computed, not judged, with one exception: a printed reference that no index lists is read once by a model before it counts as a citation error. Claims are extracted by a model and kept only when their quote appears verbatim in the text; each cited source is then checked, with a model’s help, for whether it says what the claim relies on. Those verdicts can be wrong — read the claim’s quote and the cited source before relying on one.
Statistics and arithmetic are recomputed, not judged.
Confidence bands are shown only for fields calibrated on our annotated test set. None is calibrated yet, so no band is shown.
What counts as a claim ›How we measure confidence ›How we check this ›
Are you an author, or do you see a problem with this page? Request a review