Customers' Perception of Value in Financial Services Relationships: A Spanish Case

The present paper summarizes the results of an investigation whose aim was to examine the type of value consumers achieve as a result of their loyalty to a provider of financial services. The study proposes a relation between the different forms of consumer loyalty (cognitive, affective, inertial or conative loyalty) and the value a client obtains (functional, affective or saving value). We have tested the proposed hypotheses for the relationships between consumers and the financial firm they frequent. The empirical study suggests that functional and saving value ismainly related to cognitive loyalty, whereas other types of loyalty generate affective value and, only indirectly, functional and saving value. (C) 2006 by The Haworth Press, Inc. All rights reserved.