AN EMPIRICAL ANALYSIS OF THE DETERMINANTS OF SME´s CUSTOMER LOYALTY: EVIDENCE FROM SERBIA
AN EMPIRICAL ANALYSIS OF THE DETERMINANTS OF SME´s CUSTOMER LOYALTY: EVIDENCE FROM SERBIA

Summary/Abstract: Small and medium-sized enterprises are regarded as the main drivers of economic growth and employment. In spite of rich empirical evidence of the determinants of customer loyalty, as one of the main precursors of enterprise’s profitability, this research topic has been largely neglected in emerging economies.Therefore, this study aims to propose and empirically examine a model of SMEs’customer loyalty in Serbia, based on previously established relationships among the determinants of customer loyalty and their effects on loyalty. Proposed conceptual model was examined by means of structural equation modelling (SEM). Findings of the study indicate direct and most significant impact of customer satisfaction onloyalty, followed by market orientation and service quality as indirect determinantsof customer loyalty. Theoretical and managerial implications and limitations of study findings are discussed and directions for future research are highlighted.

• Details
• Contents