When given a choice, customers are loyal to HSBC. Instead of targeting all customers, HSBC only needs to target new customers in order to grow their business… … "Customer Loyalty (HSBC)" has a significant impact, so an analyst should put more weight into it. This qualitative factor will lead to a decrease in costs. This statement will lead to an increase in profits for this entity. "Customer Loyalty (HSBC)" is an easily defendable qualitative factor, so competing institutions will have a difficult time overcoming it.