Economic Themes (2011) 49 (2) 10, 297-307
Ljubodrag Ranković
Abstract: This paper aims to emphasize the importance of developing relationships between organizations and profitable customers, as social bonds. Development of social bonds between an organization and profitable customers may be considered through four chains of loyalty. Customer perceives the value of offering system (cognitive respond), feels satisfaction, develops trust and aims to invest maximal effort to keep the relationship (affective respond), develops different intentional behaviour (conotative respond) and in the end determinates the decision what he would really make (customer behaviour). Today, all successful organizations are devoted to building components of trust, commitment and loyalty with their customers. In other words, they follow the affective and conotative responds of customers. They create a relational atmosphere, and impact on partners to resist the attractive short-term alternative, to expect long-term benefits, reduce risk, and to believe that the other part will not act opportunistically. For this reason, when all of belief components are present at the same time, they contribute to better bussiness performance. The paper presents the results of research, which analyzes the relevance and interdependence of belief components, and establishes, in relation to independent variables, which organizations are dedicated to developing belief components with their customers in Serbia.
Keywords: social bonds; mutual trust; commitment; loyalty; belief components
BUILDING TRUST, COMMITMENT AND LOYALTY BETWEEN AN ORGANIZATION AND CUSTOMERS
Ljubodrag Ranković
Abstract: This paper aims to emphasize the importance of developing relationships between organizations and profitable customers, as social bonds. Development of social bonds between an organization and profitable customers may be considered through four chains of loyalty. Customer perceives the value of offering system (cognitive respond), feels satisfaction, develops trust and aims to invest maximal effort to keep the relationship (affective respond), develops different intentional behaviour (conotative respond) and in the end determinates the decision what he would really make (customer behaviour). Today, all successful organizations are devoted to building components of trust, commitment and loyalty with their customers. In other words, they follow the affective and conotative responds of customers. They create a relational atmosphere, and impact on partners to resist the attractive short-term alternative, to expect long-term benefits, reduce risk, and to believe that the other part will not act opportunistically. For this reason, when all of belief components are present at the same time, they contribute to better bussiness performance. The paper presents the results of research, which analyzes the relevance and interdependence of belief components, and establishes, in relation to independent variables, which organizations are dedicated to developing belief components with their customers in Serbia.
Keywords: social bonds; mutual trust; commitment; loyalty; belief components
