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Effects of Customer Relationship Marketing, Service Quality, and Product Excellence on

Customer Value and Its Effects on Satisfaction and Loyalty of PT. Bank Syariah
Mandiri Customers

Abstract

This research aims to determine the effects of customer relationship marketing,


service quality, and product excellence on customer value, and its effects on the satisfaction
and loyalty of PT. Bank Syariah Mandiri customers in West Nusa Tenggara (NTB). The
research method used survey method involving 250 people as the samples taken in sensus
manner. The data collection used questionnaire and the data analysis used Structural
Equation Modelling (SEM). Results of the research indicate that each factor and construct
affect recursively, namely customer relationship marketing, service quality, and product
excellence affecting on the customer value; the customer value affects on the customer
satisfaction, and the customer satisfaction affects on the customer loyalty .

Keywords: Customer Relationship, Service Quality, Product Excellence, Customer Value,


Customer Satisfaction, Customer Loyalty and Structural Equation Modelling
(SEM)

i. . Introduction
Entering free trade era, currently, there is a shift of marketing strategy having
orientation to the customers. As an opinion by Kotler and Armstrong (2008), it states that
marketing must be understood not as former definition of sale creation, namely telling and
selling, but, it should be in the new definition, namely customer satisfaction. Term of Syariah
Bank (Islamic Bank) is a ne phenomenon in the modern economic world. Its presence is
caused by tense effort given by Islamic figures in supporting Islamic economy; they believe
that Islamic economic system can replace and improve the conventional economic system
based on interest and crisis vulnerability. Syariah banking in Indonesia faces good
development. However, there are still many obstacles in the development of syariah banking
in Indonesia, namely Fiqh obstacle; namely the arguments of islamic scholars on the interest,
they have different view, halal (legal), haram (illegal) and syubhat (Muhammad, 2005), lack
of syariah banking socialization, legal problems that are not ruled by the Acts giving
explanation on syariah banking operational procedure in Indonesia in 1992-1998. Usury
prohibition is not only found in Moslem but also Nasrani namely it is found in Lukas 6 : 34-
35 as a paragraph givingg critics on usury practice (Muhammad, 2005); lac of human
resources and skills; limited syariah bank office network; liqudity difficulty, information
assymetry (Karem, 2003). However, from all of the existing potentials, current condition of
syariah banking has fewer number if it is compared with national banking in Indonesia. Data
collected by Indonesian bank shows that there was relatively significant decrease on syariah
banking financing growth rate in 2009 namely by 14%, then it growth by 36,7% in the
former year to be 22,8%. Meanwhile, there is decreased asset growth rate by 2,2% from
35,6% into 33,4% this year.
Based on the reality found out in the research objects, the research problems can be
formulated as follow: does the customer relationship marketing affect significantly on the
customer value of PT. Bank Syariah Mandiri in NTB?; Does the service quality affect
significantly on the customer value of PT. Bank Syariah Mandiri in NTB?; Does the product
excellence affect significantly on the customer value of PT. Bank Syariah Mandiri in NTB?;
Does the customer value affect significantly on the customer satisfaction of PT. Bank Syariah
Mandiri in NTB ?; and does the customer satisfaction affect significantly on the customer
loyalty of PT. Bank Syariah Mandiri in NTB?. This research purpose is to develop theoritical
model on customer loyalty analysis in PT. Bank Syariah Mandiri that is rewiewed from
influencing aspects, namely customer relationship marketing, service quality, product
excellence, customer value, and customer satisfaction in PT. Bank Syariah Mandiri.

ii. Literature Review and Research Methodology


Marketing from syariah perspective is all activities run in business activity in the form
of value creating activities allowing anyone to grow and empower its advantage based on
honesty, justice, opennes and sincerity. These principles are also based on islamic mualamah
agreement or islamic business transaction agreement (Muhammad: 2005). There are two
basic bases in syariah marketing; the first is that marketing must be based on spirit of worship
to the God the Almighty. The second is maximum effort with the purpose for shared welfare,
win-win solution and not group interest or even self-interest.

Customer Relationship Marketing


Customer relationship marketing is a form of marketing in which a company has
target in its customers and creates relevant marketing communication. There are processes in
the customer relationship marketing (Hughes, 1999: 15, in Henning et al., , 2002): Creating
customer information, calculating profits from the customers; dividing customers based on
profits; regulating customers; calculating potential benefit value and profits. There are some
measures of customer relationship marketing (Gronroos, 2006) namely: long term customer
focus, creating communication with customers, involving members in marketing activity,
implementation of interactive marketing proces, developing service culture for customer, and
obtaining and using customer information. The Customer relationship is measured by three
programs namely : sustainable marketing, individual marketing and cooperation program.
Based on argument by Stanton (2003) about relationship marketing, there are inputs of
relationship marketing namely understanding customers’ expectation, building partnership
service, total quality management, and empowering employees. Meanwhile, according to
Stanton (2003) results of this relationship marketing are customer loyalty , customer
satisfaction, product quality and increased profitability.
Customer relationship marketing is a form of marketing in which a company has
target in the customers and creates relevant marketing communication. Meanwhile, customer
value is emotional binding formed by consumer s and producers after the consumer s use a
product or service produces by a producer and finds out that the product provides a value
description (Butz and Goodstein, 1996). To achieve optimal results, it is necesary for value
system for customers, namely a system consists of value chain from the company to deliver
value for the customers (Kotler, 2008). In delivering the value to the customers, it is
necessary for customer rekationship marketing having focus on long term customers
(Gronroos, 2006).

Service Quality
Service quality is all forms of activities conducted by a company in order to meet the
customers’ expectation. In this case, service is defined as a service delivered by service
owner in the form of easiness, speed, relation, ability and friendliness addressed through
attitude and characteristics in providing services for customer satisfaction. Service quality can
be seen by comparing customer perspective on the service that they receive or obtain to the
real service that they expect or want on the service attributes of a company.
Service quality is affected by two variables, namely perceived service and
expected service. If the perceived service is smaller than the expected service, the customers
will not be attracted to the service providers. Meanwhile, if the perceived service is bigger
than the expected one, there are possibilities that the customers will use the service provide
again (Rangkuti, 2006). Parasuraman, et al., (1988) in Feliks (2013) divided service
quality into five main dimensions, namely reliability, responsivness, assurance, emphaty,
and tangibles. In the service context, customer value and satisfaction is often related to
service quality and service features such as convenience, competitiveness and location
provided by service providers. The customer value often depends on the offered product
quality and service.

Product Excellence (Islamic Product Attributes)


Kotler and Armstrong (2001), stated that product attributes are development of a
product and service requiring defining its benefits to be offered. These benefits are
communicated and delivered by the product attributes such as quality, feature, as well as style
and design. Decision concerning these attributes affects on consumer reaction toward a
product. The product attributes include product quality, product feature, style and product
design.
A company can only exist and survive if it has unique advantages compared to its
competitors. If the company does not have any unique advantages, then its competitors can
shift its strategic position. A customer-focused method is selection identification of special
competencies, based on unique levels and patterns on both skills and resources, and
distributed through ways that the competitors can not duplicate. Felix, (2013) pointed out that
the differentiation of product superiority has the potential to increase customer value and
satisfaction.
Customer Value
The concept of customer value provides an overview of a company’s customers, pays
attention to what they want, and believes that they obtain benefits from a product (Woodruff,
2006). Gross (1991) in Agung (2011) developed a model, showing that a customer selects
(buy or not) a product based on five components of value, namely: Function Value, Social
value, Emotional value, Episteme value, Condition value. In the Islamic financial system,
there are basic principles to be used as references as follows: prohibiting interest, shared-risk,
money as a potential capital, prohibiting speculative behavior, applying halal (legal) contract,
and syariah-based activities. Syariah practices and working principles are certainly based on
Islamic values presented in Al-Qur'an, hadith, and other sources of Islamic law. The purpose
of Islamic banking establishment is to achieve and realize people welfare in the world and
herafter world. By referring at this main objective, the term of maqashid syariah (towards
syariah) is the main pillar in every operational development and products in syariah bank.
Thus, the maqashid sharia (towards syariah) can be achieved by meeting five basic human
needs, namely: religion (ad-din), mantained soul (an-nafs), maintained mind (al-aql),
maintained wealth (al-maal), and maintained offspring (an-nashl).
Customer value is a perceived quality by customer that is adjusted to relative price of
a product produced by a company (Narver and Slater, 1994). The concept of customer value
indicates a strong relationship to customer satisfaction, where the concept illustrates the
customer’s evaluative judgment about the product being offered. There will be customer
expected value when they form perception on how well a product is played in a usage
situation.
Customer Satisfaction
Customer satisfaction is a condition when a product or service can meet or excess
customer expectation (Gerson, 2002), or customer perspective that his or her expectation has
met or excessed. Philip Kotler (2008) identified 4 methods to measure the consumer
satisfaction, namely complaint and advise system, Ghost Shopping, and Lost Customer
Analysis. This method can measure customer satisfaction by various manners, among others
are: 1) Directly reported satisfaction, 2) Dirived satisfaction, 3) Problem analysis, 4)
Importance-performance analysis, 5) customer satisfaction program elements. There are
important elements in the quality determined by the customers, namely the customer should
be the main priority for the organization; reliable custome is a customer with repeated
purchase from the same organization and the customer satisfation is assured by creating high
quality products.
Satisfaction and loyalty relation is shown through a research by Hanafi, (2010)
showing that there will be increased customer loyalty if the customer satisfaction can be
increased. Feliks (2013) said that the satisfaction affects on purchasing behavior, in which the
satisfed customer tend to be a loyal customer, but loyal customer is not neccessary to be
satisfied. Loyalty means as the company ability to create its product position in the customer
priority, in which the company tries to consider customer as his partner by strenghtening
consumer loyalty , creating interaction, if necessary developin shared progress.

Customer Loyalty
After a product value is delivered in the hand of customer and then the customer can
use or consume it optimally, then the consumer will be satisfied, Feliks, (2013). Perceived
customer satisfaction has consequence on behaviors such as customer complaint and loyalty ,
so if an organization or company can pay attention to all of the things that can form the
customer satisfaction, then the customer perceived satisfaction will be formed in a fully
manner. Each customer has its own characteristics in responding any consumed or used
product. The customer loyalty model can be illustraed as follow:Cognitive loyalty, Affective
loyalty, Conative loyalty, Action loyalty, and Switchers loyalty. Thers are some levels of
customer loyalty consecutivelu ranging from the lowest level until the highest one, namely:
Switches, Habitual buyer, Satisfied buyer, Likes the brand, and Committed buyer. The
customer loyalty indicators are as follow: onwed main saving, conducting sustainable
transactions, following determined rules by bank, recommendating to others.
Related to the problems that have been formulated and thetheoritical review then there
are six variables in this research to be studied and classified into three parts, namely
independent variables (X), intervening variables (Z), and dependent variables (Y).
Based on the above framework, it can prepared the research theory model in the form
of causal that can be seen in the following table:
Symbol Variables Indicators
X1 Customer X1.1=Focus on long term Customer
Relationship X1.2= create good communication with customers
Marketing X1.3= involve organization members in the marketing
X1.4= develop culture of service
X1.5= Obtain and use customer information
X2 Service Quality X2.1= Tangible
X2.2= Reliability
X2.3= Responsiveness
X2.4= Assurance and certainty
X2.5= Empathy
X3 Product Excellence X3.1= Quality
X3.2= Uniqueness
X3.3=Multi-functions
Z1 Customer value Z1.1= assessment on excellence
Z1.2= overal attractiveness on bank party
Z1.3= assessment on overal benefits from bank
Z2 Customer Satisfaction Z2.1= customer loyalty
Z2.2= customer closeness
Z2.3=Satisfaction on service assurance
Z2.4=Satisfaction on overal service quality
Y Customer Loyalty Y1= attitude selecting product though the transaction
cost inncreases
Y2=Recommendation for others
Y3= Attitude selecting product though there are other
competitors
Table 1: Research variables
Method in this reserah uses survey method. In this research, the populations are all of
the customer of mandiri syariah bank in NTB with the number of population is 128.500
people distributed in all bank mmandiri syariah branches in NTB in random manner, then it is
taken 250 people as the samples. The data collection technique uses questionnaire. To
confirm and perfect the collected data, it is used structural equation modeling (SEM).

iii. Results and Discussion


The model structure is used to illustrate the research causality models with tiered
relationship. Research initated model or Proposed Model is analyzed with structural equation
model with the assistance of AMOS 22 software.

Standardized
Regression Weights Estimate S.E. C.R. P
Estimate

VALUE <--- SERVICE .218 .062 3.518 .000 .424

VALUE <--- EXCELLENCE .415 .172 2.412 .016 .448

VALUE <--- RELATIONSHIP .501 .313 2.602 .009 .389

SATISFACTION <--- VALUE 2.346 .542 4.332 .000 .723

LOYALTY <--- SATISFACTION .237 .052 4.595 .000 .444

X1.3 <--- RELATIONSHIP 3.027 1.038 2.916 .004 .736

X1.4 <--- RELATIONSHIP 2.336 .950 2.459 .014 .493

X3.1 <--- EXCELLENCE 1.000 .471

X3.3 <--- EXCELLENCE 1.407 .240 5.855 .000 .567

X2.3 <--- SERVICE 1.259 .169 7.468 .000 .658


Standardized
Regression Weights Estimate S.E. C.R. P
Estimate

X2.4 <--- SERVICE .892 .138 6.444 .000 .551

X2.2 <--- SERVICE 1.351 .136 9.911 .000 .873

Y3 <--- LOYALTY 1.310 .159 8.226 .000 .890

Y1 <--- LOYALTY 1.000 .517

Y2 <--- LOYALTY 1.545 .312 4.953 .000 .759

X1.2 <--- RELATIONSHIP 1.953 .678 2.880 .004 .447

X3.2 <--- EXCELLENCE 1.783 .260 6.866 .000 .729

X2.1 <--- SERVICE 1.000 .603

X2.5 <--- SERVICE .750 .095 7.868 .000 .635

X1.1 <--- RELATIONSHIP 1.000 .291

Z1.1 <--- VALUE 1.000 .405

Z1.2 <--- VALUE .621 .239 2.596 .009 .229

Z1.3 <--- VALUE 2.184 .402 5.432 .000 .676

Z2.4 <--- SATISFACTION .242 .402 5.432 .000 .291

Z2.3 <--- SATISFACTION .810 .070 3.457 .000 .696

Z2.2 <--- SATISFACTION .508 .073 11.165 .000 .472

Z2.1 <--- SATISFACTION 1.000 .072 7.012 .000 .845

X1.5 <--- RELATIONSHIP .265 .265

Source: research process using AMOS 22.


Table 2: Estimation of Final Model Parameter
This testing is conducted to determine whether the developed model is fit to the
available data. Items used in this testing can be seen in Table 2.

Results of data processing using the samples are 250 showing the significance level
for hypothesis test with probability for all variables under α = 0,05. This indicates that there
is no difference of sample covariance matrix and population covariance matrix, so that the
zero hypothesis is rejected. Meanwhile, the positive beta value in all variables indicates inter-
variable-one direction effects. This means that if the X variable increases, then the Z and Y
variables also increase and also the other way around.

Meanwhile, values of GFI, AGFI, TLI, CFI, RMSEA and CMIN/DF, eaach of which
is 0.925, 0.912, 0.968, 0.962, 0.037 and 0.799; all values are in the expected range value so
that the model can be accepted (Table 3).

No Goodness of Fit Index Cut-off Results of Information


Model
Value
Test

1 2 / Chi-Square 108,808 Good

2 Significance probability  0,05 0,061 Good


3 GFI  0,90 0,9725 Good

4 AGFI  0,90 0,912 Good

5 TLI  0,95 0,968 Good

6 CFI  0,95 0,962 Good

7 RMSEA  0,08 0,037 Good

8 Relative 2 (CMIN/DF)  2,00 0,799 Good

Source: research process (annex 9)


Table 3: Results of Goodness of Fit Index Structural Final Model Test

These findings are the model alternative or management of customer relationship


marketing, service quality, product excellence, customer value, and customer satisfaction as
well as increases customer of PT. Bank Syariah Mandiri in NTB. In this contect, the
intervening variable effects can be reviewed in further to obtain more comprehensive
discussion.
Effects of Customer relationship marketing On the Customer Value of PT. Bank
Syariah Mandiri in West Nusa Tenggara
Path coefficient of customer relationship marketing variable on the customer value
in PT. Bank Syariah Mandiri in NTB Province is 0,389 with the critical ratio (CR) value by
3.602 and probability value by 0.009. There is also contribution by 0.389 or 38,9 %.
In the description descriptive, it is noted that the customer relationship marketing that
is successfully built by PT. Bank Syariah Mandiri in NTB reaches strong level (mean = 3,840
in range of scale by 1 to 5). This level does not only indicate unmaximized performance, but
in another sense, it indicates that there is still a chance to increase the customer value through
the customer relationship marketing. By using factor analysis, it is known that the dominant
factor forming the customer relationship marketing is to create good communication with the
customers, meaning that the bank prioritizes on making good communication with the
customers, followed by long-term customer focus which means to create good relationship
with customers so that it can establish mutual profitable relations with the long term
customers. By implementing the customer relationship marketing in which PT. Bank Syariah
Mandiri in NTB builds long-term alliances with customers and prospective customers, it
cooerates to reach a defined goal. These goals are met by understanding customers’ needs,
treating customers as partners, ensuring that bank employees meet customer satisfaction and
providing good quality to customers.
The dominant indicator is creating good communication with customer in the
customer relationship marketing variable, then PT. Bank Syariah Mandiri party in NTB
should be more concerned about this indicator, because with good communication, it will
establish mutually pleasant relationship between employees with customers. This can be
applied by using approaches from syariah marketing namely making the customers as parallel
partners, where both the bank as the product seller and customers as the product buyers are in
the same position. With the concept of equal partners, it will create greayly perceived family
value in syariah marketing because it already assumes customers as their own family that will
be assisted and will not be harmed.
Results of the research is in line with the findings and statement by Too, Souchon and
Thirkell (2000), stating that the customer relationship marketing influences on the product
ecellence. The customer value influences on the customer satisfaction and loyalty .Tax,
Brown & Chandrashekaran (1998), a research entitled as Customer Evaluations of Service
Complaint Experiences: Implications for Relationship Marketing. Results of the research
indicate that the high customer loyalty and value on the company will increase the customer
satisfaction.

Effect of Service Quality on The Customer Value of PT. Bank Syariah Mandiri
in West Nusa Tenggara
The coefficient path of service quality variable on the customer value of PT. Bank
Syariah Mandiri in NTB Province is 0,424 with the critical ratio (CR) value by 3.518 and the
probability value by 0.000. there is also contribution by 0.424 or 42,4 %.
In the description descriptive, it is noted the service quality that is successfully built
by PT. Bank Syariah Mandiri in NTB reaches strong level (mean = 3,830 in range of scale by
1 to 5). This level does not only indicate unmaximized performance, but in another sense, it
indicates that there is still a chance to increase the customer value through the service quality.
By using factor analysis, it is known that the dominant factor forming the service quality is
the reliability indicator, meaning that the respondents give more priority on reliable service
quality from the bank party given to the customer, followed by tangible namely tangible
condition of service received by the customers.
According to Islam, in providing the service to the syariah marketing customers, it
must always be istiqomah or consistent in the application of syariah law. Syariah product
marketers must be able to be kept their promises, they are not allowed to break their
promises. Since, in a syariah company, a marketer consistency is a manifetation of the overal
company refelection. Also, a syariah marketer must have four characteristics, namely:
(Antonio : 2001) deity (rabbaniyah), ethical (akhlaqiyyah), realistic (al-waqi’yyah), and
humanistist (insaniyyah). Besides, in providing service, the marketing must uphold the
islamic guidelines namely Al-Qur’an. Such as the Allah words in paragraph 1-2 Al-Baqarah
meaning: “This is the Book about which there is no doubt, a guidance for those conscious of
Allah”. This verse is greatly relevant as the guidelines in the implementatio of marketing task,
since marketing is a very essential part of company machine.

Results of the research are in line with the statement by Feliks (2013) stating that the
service quality is affected by two variables, namely perceived service and expected
service. Meanwhile, Bloemer, Ruyter and Peter (1998), in their research found out that the
proper service quality directly or indirectly provide effects on the loyalty . Indirect relation
between service quality and loyalty is through satisfaction intervening.

Effect of Excellence Product on the Customer Value of PT. Bank Syariah


Mandiri in West Nusa Tenggara
Coefficient path of the excellence product variable on the customer value of PT.
Bank Syariah Mandiri in NTB Province is 0,448 with the critical ratio (CR) value by 2.412
and the probabilitas value by 0.016. value 0.448 or 44,8 %.
In the description descriptive, it is noted that the excellence product that is
successfully built by PT. Bank Syariah Mandiri in NTB reaches strong level (mean = 3,775 in
range of scale by 1 to 5). This level does not only indicate unmaximized performance, but in
another sense, it indicates that there is still a chance to increase the customer value through
the excellence product. By using factor analysis, it is known that the dominant factor forming
the excellence product is the multifunction indicator, meanin that the respondents give more
priority on the excellence product having multi functions from the bank given to the
customers, followed by the quality namely the product quality condition that is offered by the
bank to the customers.
The excellence product given by PT. Bank Syariah Mandiri in NTB is in the forms of
product quality that is proper, halal, well-adjusted to syariah, and competitive to other bank
products; the product is different to other bank products; Products by bank Syariah Mandiri
has uniqueness than other bank products; Products by Bank Syariah Mandiri has multi
functions; it is not only used for wordly purposes, but also for hereinafter world purpose
because Bank Syariah Mandiri in NTB is not applied any usury matter. Each product can
also be used as collaterall as giving excellence product from Bank Syariah Mandiri.

In this research, Islamic product atributes are unique product attributes that can be
found in the syariah bank products. The syariah financial system includes usury prohibition,
risk share, money as the potential capital, prohibiting speculative behaviour, making halal
contral, syariah-based activities. Research conducted by Anderson et al., (2002); Fornell
(2006) stated that a product attribute is closely related to the customer satisfaction, because
higher customer assessment on the product attributes will lead to higher customer
satisfaction.

Meanwhile, Rahman El Junusi (2003), studied the Effect of Islamic product attributes,
religious commitment, service quality and loyalty on the satisfaction and loyalty of bank
syariah customer (in muamalat bank, semarang branch). Results of the reserach indicates that
the islamic product attributes, religious commitment, service quality and loyalty affect
positively and significantly on the satisfaction and loyalty of muamalat bank customers
branch Semarang.

Effects of the Customer Value on the Customer Satisfaction of PT. Bank Syariah
Mandiri in West Nusa Tenggara
The coefficient path of customer value variable on the customer satisfaction of PT.
Bank Syariah Mandiri in NTB province is 0,723 with the critical ratio (CR) value by 4.332
and the probability value by 0.000. there is also contribution by 0.723 or 72,3 %.
In the description descriptive, it is noted that the customer value that is successfully
built by PT. Bank Syariah Mandiri in NTB reaches strong level (mean = 3,792 in range of
scale by 1 to 5). This level does not only indicate unmaximized performance, but in another
sense, it indicates that there is still a chance to increase the customer satisfaction through the
customer value. By using factor analysis, it is known that the dominant factor forming the
customer value is the assessment on the excellence, meaning that the customer prioritizes on
the product excellence value that is offer by the bank to the customer, followed by the overal
attractiveness by the bank namely customer attractiveness on bank condition and product
quality given by bank to the customers.

The customer value of PT. Bank Syariah Mandiri in NTB is in the forms of: Bank
Syariah Mandiri has better value than other Bank, in the aspect of alm payment; Bank
Syariah Mandiri has lmore superior products than other banks; customer attractiveness on the
bank programs, and product innovation by Bank Syariah Mandiri because of the shared-profit
that is based on syariah; Bank Syariah Mandiri can meet all needs; Bank Syariah Mandiri
provides fullbenefits for the community in NTB because of syar’i life demand, all of which
provides value for the Bank Syariah Mandiri customer.

It can be seen that the assessment on the excellence product is dominant then PT.
Bank Syariah Mandiri in NTB should ive more attention on this assessment on the excellence
indicator, because the respondents give more priority on excellent product offered to the
customers. The assessment on this ecellence is in the form of more value than what given to
other bank and also in the form of overal attractiveness on the bank party namely customer
attractivemess on bank condition and product quality offered by the bank to the customers.
The research results are in line with statement by Zeitham (2009) statinh that the
customer value is the overal customer assessment on a product utility based on the perceived
and given percpetion.
Meanwhile, Agung Purwo Atmojo (2005), in Effect Analysis of Service Quality,
Customer Value and Islamic Product Attribute on the Customer Satisfaction (A Case Study in
Bni Syariah Semarang Branch). Result of the reseacrh indicates that the customer value and
islamic product attributes simultaneously and partially effect on the Satisfaction Customer
Satisfaction of Bni Syariah bank Semarang branch.

Effect of Customer Satisfaction on Customer Loyalty of PT. Bank Syariah


Mandiri in West Nusa Tenggara
The coefficient path of the customer satisfaction variable on the customer loyalty of
PT. Bank Syariah Mandiri in NTB province is 0,444 with the critical ratio (CR) value by
4.595 and the probability value by 0.000. there is also contributon by 0.723 or 72,3 %.

In the description descriptive, it is noted that the customer satisfaction that is


successfully built by PT. Bank Syariah Mandiri in NTB reaches strong level (mean = 3,905 in
range of scale by 1 to 5). This level does not only indicate unmaximized performance, but in
another sense, it indicates that there is still a chance to increase the customer loyalty through
the customer satisfaction. By using factor analysis, it is known that the dominant factor
forming the customer satisfaction is the customer loyalty , meaning that the customer
prioritizes the loyalty on the bank performance, in which the bank will not give any losses to
the customer, followed by satisfaction the bank service assurance namely being satisfied to
the bank perofrmance information that is conducted in a periodic manner.
The customer satisfaction of PT. Bank Syariah Mandiri in NTB is in the forms of:
customer loyalty on the Bank performance; customer loyalty that the Bank will not give any
losses to the customers since it is free from any usury; employees always listen to, respect,
and help to provide any required information to the customers; the customers always smile
and respect all customers at any transactions; the customer satisfaction on the given
assurance; the customer satisfaction because the performance information is conducted in a
periodic manner. All of these provide satisfaction to Bank Syariah Mandiri customers.

This customer loyalty indicator is dominant then the PT. Bank Syariah Mandiri party
in NTB should provide more attention to this customer loyalty indicator because the
respondents prioritizes on the loyalty to the bank, in which this customer loyalty is in teh
form of customer loyalty on the bank performance and customer loyalty that the bank will
not give any losses to the customers.

Rahman El Junusi (2003), studied the Effect of Islamic product attributes, religious
commitment, service quality and loyalty on the satisfaction and loyalty of bank syariah
customer (in muamalat bank, semarang branch). Results of the reserach indicates that the
islamic product attributes, religious commitment, service quality and loyalty affect positively
and significantly on the satisfaction and loyalty of muamalat bank customers branch
Semarang.

Hanafi Bachtiar (2010), also studied the effects of service quality and customer
satisfaction on the customer loyalty in PT Bank BNI (Persero) Tbk., Main Branch of Tanjung
Perak Surabaya. Result of the research indicates that the customer satisfaction significantly
affects on the customer loyalty .

Coefficient Analysis of Determinance (R2) and Function in the Model

The analysis on inter-latent variable effects is conducted to test the contribution of


inter-latent variable effects o rthe percentage of inter variable variance that can be described
as follow:

a. 88,9% variance in the customer value variable can be described by the variables of
Customer relationship marketing, service quality and excellence product, meanwhile,
others are affected by other factors beyond these research variables.
b. 72,4% variance in the customer satisfaction variable can be described by the factors of
Customer relationship marketing, service quality, excellence product, and customer
value, meanwhile, others are affected by other factors beyond these research variables.
c. 88,6% variance in the customer loyalty variable can be decribed by the factors of
Customer relationship marketing, service quality, excellence product, customer value,
and customer satisfaction, meanwhile, others are affected by other factors beyond these
research variables.
Conclusion

From the results of testing on the model in this study, it can describe the relationship
between the customer relationship marketing, service quality, excellence product, customer
value, customer satisfaction, and customer loyalty . The results of this study serve very
important role because there are effect stages of each factor and construct in a recursive
manner; namely the customer relationship marketing, service quality, and excellence product
variables affect positively on the customer value variable. The customer value variable
affects on the customer satisfaction variable. While the satisfaction customer affects on the
customer loyalty . The results of this study provide significant contribution especially in
marketing management, and marketing strategies and customer loyalty of PT.Bank Syariah
Mandiri in NTB.
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