Journal of Financial Services Marketing

, Volume 23, Issue 1, pp 12–24 | Cite as

The impact of brand experience, service quality and perceived value on word of mouth of retail bank customers: investigating the mediating effect of loyalty

  • Kaushik Mukerjee
Original Article


The purpose of this research is to study the impact of the antecedents—brand experience, service quality, and perceived value on word of mouth (WOM) recommendations by retail banking customers in an emerging market. The paper also investigates the mediating effect of loyalty on WOM with respect to the abovementioned antecedents. A survey of 412 retail customers of various banks in India was undertaken using a structured questionnaire developed using existing constructs. The results show that brand experience, service quality, and perceived value have a significant impact on WOM recommendations of customers of retail banks. Further, the relationships between the abovementioned antecedents and WOM are mediated by loyalty. This study makes several contributions to the academic literature. First, it establishes the importance of brand experience, service quality, and perceived value as antecedents of WOM in the context of retail banks in an emerging market. Second, it also establishes that loyalty plays a mediating role for the abovementioned antecedents for WOM recommendations by retail customers of banks in an emerging market.


Word of mouth WOM Brand experience Service quality Perceived value Loyalty Retail banking Customer Recommendations 

Supplementary material

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Supplementary material 1 (XLSX 70 kb)


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© Macmillan Publishers Ltd., part of Springer Nature 2018

Authors and Affiliations

  1. 1.National Institute of Bank Management, NIBM RoadPuneIndia

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