Dynamics of customer loyalty within a highly regulated industry context: an exploratory empirical study of the triadic interplay among the Seller, the Buyer and the Regulator

The thesis explores how customer loyalty changes in a highly regulated environment. The research provides a foundation for service providers to develop strategies specialised for customers in different transformative states, shifting the focus from loyalty development to loyalty sustainability. In addition, it reveals the importance of two-way communications and customer participation in regulatory framework, which can assist in designing an appropriate regulatory framework that could lead to industry growth and stability. Finally, the study highlights the importance of educating customers on regulatory framework in order for the customers to correctly evaluate service performance and respond to changes in the market.