Sample Thesis Paper
Customer satisfaction has been observed to play a key role in the development of customer loyalty. While the relationship between the two elements is one that is widely accepted, it is also one that is subjected to a high frequency of research for purposes of validation (Jones and Farquhar 2007). Arguments made in favour of the relationship between customer satisfaction and customer loyalty hold that the development of adequate customer satisfaction is a prerequisite for customer loyalty.
Customer loyalty, in essence, can be described as the establishment of a long term relationship between the customer and the organization in which the customer chooses to make repeated purchases from the same channel. While each form of business chooses to give a varying degree of significance to customer loyalty, this concept takes on a significant position when considered in the perspective of the banking industry where every little bit helps. By studying the causes, effects and patterns of customer satisfaction in UK banks, the study aims to highlight how customer satisfaction is contributing to the growth of the banking industry (Jones and Farquhar 2007). The purpose of doing so in the perspective of customer loyalty is to have a working infrastructure between customer satisfaction and its effects on the UK banking industry.