The influence of the Big Five, WOM communication and satisfaction on consumer loyalty in the Republic of Serbia

Suzana Djukic () and Jelena Stankovic
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Suzana Djukic: University of Nis
Jelena Stankovic: University of Nis

E&M Economics and Management, 2024, vol. 27, issue 4, 211-229

Abstract: The concept of consumer loyalty plays an important role in business existence in the current competitive business environment. Consumer loyalty is researched in different ways by considering the characteristics of the consumer’s personality, mutual communication between consumers, and their satisfaction with the company, products/services and numerous other determinants. Consumer personality is a potential marketing strategy for increasing loyalty towards a company, product and/or service, because many customers choose products that match their personality. The manner of communicating and conveying the experience of the product also depends on the consumer’s personality traits, and this further affects a consumer’s loyalty. Also, consumer satisfaction is another concept of qualitative and quantitative assessment of consumers after purchase, and it is a predictor of consumer loyalty and a free source of promotion for the company. The authors’ goal is to examine the relationship between the concept of consumer personality, word of mouth (WOM) communication, consumer satisfaction, and loyalty on the mobile phone market in the Republic of Serbia, and then to make relevant conclusions about the mutual influence of the given factors in relation to the conducted empirical analysis. The data was obtained with the help of an online survey questionnaire, while the results were processed in statistical software packages for social sciences SPSS and AMOS. The research results show that all the researched variables included in the paper (Big Five, WOM communication, satisfaction) significantly influence consumer loyalty on the aforementioned market in the Republic of Serbia. The research explicitly builds on and contributes to previous literature on brand management, as it analyzes important predictors of consumer loyalty within a specific research area. Future studies could strengthen the existing literature by analyzing consumer loyalty towards a specific brand.

Keywords: Big Five; WOM communication; satisfaction; consumer loyalty; Republic of Serbia (search for similar items in EconPapers)
JEL-codes: M30 M31 (search for similar items in EconPapers)
Date: 2024
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https://doi.org/10.15240/tul/001/2024-5-023

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Persistent link: https://EconPapers.repec.org/RePEc:bbl:journl:v:27:y:2024:i:4:p:211-229

DOI: 10.15240/tul/001/2024-5-023

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