Abstract
Purpose – The concept of “trust” has gained considerable importance in the field of marketing
during the last decades and is seen as a key mediator of customer relationship marketing. But upon a
closer look at the literature, the construct “trust” is conceptualized and measured very differently.
Based on a literature review and theoretical work, the purpose of this paper is to develop a conceptual
model of consumer trust in a service company, which distinguishes two fundamental dimensions.
Using these dimensions, it is possible to detect different mediating effects of trust in the customer
relationship to the service company.
Design/methodology/approach – Antecedents and consequences of trust are studied in a
business-to-consumer services context in the banking industry. To test hypotheses, empirical data
are collected from a sample of 232 retail bank customers with checking accounts. By means of a LISREL
approach, two rivalling measurement models of trust are compared and show various mediating effects.
Findings – The empirical data support the two-dimensional model of trust. Further, the two
dimensions of trust are mediating the effect of customer satisfaction (CS) differently. In particular, it is
shown that “benevolence” has a significantly greater influence on customer loyalty than “credibility.”
Finally, beside CS, the customer’s propensity to trust also influences trust.
Research limitations/implications – Findings are limited to the cross-sectional design of the
study and the financial industry.
Practical implications – For the management of consumers’ trust perception, the adequate
conceptualization and measurement of trust is central. The aspect of benevolence is crucial for creating
consumer loyalty and trust as well as the building of customer relationships. Consequently,
management should foster activities to signal customers to be benevolent partners (e.g. service
guarantees and branding) to ensure a high-quality service experience.
Originality/value – In previous research, trust has been often conceptualized and measured in an
inconsistent and unequivocal way. In the proposed approach, the two facets of trust are theoretically
conceptualized and measured separately. Thus, differentiated effects of antecedents as well as
consequences of trust can be detected.