Investigation of the effect of the factors affecting the preference of the consumers on the consumer's loyalty: The example of Azerbaijan

In this study, the effect of the factors affecting the customers' preferences on customer loyalty was investigated. For this purpose, 384 data were collected from a bank customers in Azerbaijan. In the study, the construct validity and reliability of the scales were tested. Then the structural equation model was analyzed. As a result of the analysis, it was found that the factors affecting bank preference had a positive effect on customer loyalty. In addition, it has been determined that the product and service diversity factor has a positive effect on customer loyalty. As a result of the differences analysis, the physical and technical structure of the bank is determined by gender; the variety of products and services, ease of operation and cost by age; the ease and cost of transactions, the physical and technical structure of the bank and customer loyalty according to the educational status and monthly income; however, it was found that there was a significant difference between customer loyalty and time spent working with the bank. Key Words: factors affecting bank preference, customer loyalty