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Thesis defense
Segmenting the Dutch financial services industry based on
trust and its determinants using latent class analysis
Theory
› Trust fosters…
▪ Customer loyalty (Morgan & Hunt, 1994; Sirdeshmukh et al., 2002) ▪ Customer satisfaction (Geyskens et al., 1998)
› Segmentation efficient in financial services industry context (Bijmolt et al., 2004; Floh et al., 2014; Muhamad et al., 2012)
Methodology
› Data
› Dual segmentation approach › Hierarchical Clustering
› Latent Class Analysis
Results
HC ->
Customer segments
Segment 1: Heart Followers “High” trust Customer orientation (+) Competence (-)Young and highly educated
Segment 2:
Rationalists
“Low” trust
Competence (+)
Contributions to theory
› For research on trust:
▪ Effects of determinants on trust
… differs across segments … can be negative
… or even negative and positive
▪ Literature so far assumes univocal positive relationship (Ennew et al.,
2011; Nienaber et al., 2014)
› For research on segmentation:
▪ Including determinants better for structuring customer
Managerial Implications
› No one best way for increasing customer trust