Improving Bank Customers’ Satisfaction through Relationship Marketing Practices

Okonkwo, Chinwendu Deborah; Ugwuonah, Geraldine

doi:10.46281/ijmri.v3i1.333

Cited by 7 publications

(4 citation statements)

References 2 publications

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“…Therefore, satisfaction is argued to be crucial to building long-term relationships with customers (Mostert et al , 2016). RM is built on an inclusive approach towards establishing and managing relationships with customers, which are perceived as beneficial and satisfying (Okonkwo and Ugwuonah, 2019). Consequently, an RM approach strengthens the development of relationships that are long-term-focused, built on trust and deliver on the value expectations of customers (Abeza et al , 2020).…”

Section: Theoretical Frameworkmentioning

confidence: 99%

Securing delight and loyalty in a market with low switching costs

Mntande

Stiehler-Mulder²,

Roberts-Lombard³

2022

EBR

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Purpose This study aims to explore the loyalty intent of prepaid (contract-free) customers in a market where disloyalty is prevalent and the market has low switching costs. Design/methodology/approach A quota, non-probability sampling technique was applied, resulting in the completion of 220 self-administered questionnaires that were used for data analysis. Confirmatory factor analysis and a structural equation model were applied to determine model fit and test the formulated hypotheses for this study. Findings The strength of the satisfaction–loyalty relationship is found to be influenced by three specific satisfaction antecedents, strengthened by the mediating role of customer delight and impacted by switching costs. Practical implications The findings of this study may guide mobile service providers in their initiatives to secure satisfaction and loyalty in a market context where switching costs are low and the market is described as disloyal. Originality/value This study investigates the well-researched relationship between satisfaction and loyalty and the antecedents of customer satisfaction to determine which of these variables should be the focus in a challenging market where consumers are disloyal and switching costs are low.

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Section: Theoretical Frameworkmentioning

confidence: 99%

Securing delight and loyalty in a market with low switching costs

Mntande

Stiehler-Mulder²,

Roberts-Lombard³

2022

EBR

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“…An active customer relationship is crucial to a financial institution's success. It is pertinent that banks disclose significant earnings to improve customer relationships (Friday & Blessing, 2019) so that the customers feel happy for responding their queries and resolution of their complaints (Okonkwo & Ugwuonah, 2019). The employees' marketing competence increases customer retention rates and draws additional customers.…”

Section: Business and Economic Researchmentioning

confidence: 99%

Customer Relationship Management Practices and Employee Sensitivities of Private Sector Banks: An Analysis in Indian Context

Sultana

Mpanme

Ahmed

2022

BER

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This paper aims to scrutinize bank employees' perspectives on customer relationship management (CRM) practices in the banking sector, particularly private sector commercial banks operating in Goalpara District of Assam, India. The research plan consists of experimental in nature whereby different aspects of CRM in the banking sector have been extracted from the previous literature and tested on a sample size 24 number of employees working in the banks selected taking 3 each from 8 branches. Based on Bank Service Quality (BSQ) scale, variables were selected and analysed with the help of descriptive statistics and ranking analysis of identified parameters was utilized with the help of the Garret ranking technique. The study found that the loan facility and ATM facility along with service variety are found as the major product-related factors; timely services with trustworthy behaviour of the employees and the quality of services along with procedural simplicity and convenience is the most important service-related factors for evolving an effective CRM practice. The employee perceptions on the personal relationship of the bank officials with their customers’ staples in selecting the banks and retaining the customers.

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“…Customers feel happy when the banks respond promptly to their queries, ensure speedy resolution of their complaints and make available useful online information. Sometimes, bank personnel and management go out of their way to increase customer retention (Okonkwo & Ugwuonah, 2019). employees' marketing prowess increases customer retention rates and draws in more clients.…”

Section: Literature Reviewmentioning

confidence: 99%

The Key Aspects of CRM Relevant to Implementation in the Banking Sector

Rani,

Ali,

Channa

2022

NBR

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Purpose— Adopting a qualitative approach, this study inquired into the implementation of Customer relationship management (CRM) in the banking sector. The aim of this study was to develop a better understanding of how and why the banking sector implements CRM in the workplace. Methodology—Interviews carried out with top management in three major cities of Sindh province. Data were subjected to thematic analysis, resulting in the development of three categories including empirical themes, theoretical concepts and theoretical dimensions. Findings— This research intends to investigate and expand our basic understanding of CRM, contributing to the literature by expanding our knowledge of the subject while examining all of the closely linked issues. As a result, it increases the revenue. Originality— It can influence the banking sector and its prospective effects in different scenarios. A good CRM program may help companies that gain unforeseen. yet significant benefits in the high competition of capital markets. Moreover, the suggestions are supposed to think about the configuration of an encouraging atmosphere for implementing CRM in developing countries. The recommendations are established on top of the domino that affects the literature review.

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Improving Bank Customers’ Satisfaction through Relationship Marketing Practices

Cited by 7 publications

References 2 publications

Securing delight and loyalty in a market with low switching costs

Securing delight and loyalty in a market with low switching costs

Customer Relationship Management Practices and Employee Sensitivities of Private Sector Banks: An Analysis in Indian Context

The Key Aspects of CRM Relevant to Implementation in the Banking Sector

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