Customer perceived value and customer loyalty in retail banking in Kenya

The main aim of this study is to determine the influence perceived customer value on customer loyalty in retail banking in Kenya. It examines the relationship between perceived customer value attributes and customer loyalty. To achieve this purpose, data was collected from a sample of 384 current customers of commercial banks on perceived customer benefits and perceived customer monetary and non monetary costs. A questionnaire was used to gather data. Correlation and regression analyses were used to determine the relationship between perceived and customer loyalty. The results indicate that customer perceived value has a positive and significant influence on customer loyalty in retail banking. This finding reinforces the need for bank managers to put emphasis on the attributes that create favorable customer perceptions of value in order to build and maintain customer loyalty