The Influence of Trust and Commercial Friendship on Customer Retention: An Empirical Study of Banking

Liu, Jian Hua; Xu, Xihong; Zhang, Mo; Du, Jiangbing

doi:10.1109/ijcss.2012.43

Cited by 1 publication

(1 citation statement)

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“…This information is later used to compare product performance after purchase versus expectation, determining repurchasing decisions and directly influencing customer retention. Companies must realize that customer retention is about keeping the customer happy by ensuring that they are satisfied with the products or services they purchased (Liu et al, 2012). One major communication error they often make is failing to recognize communication as an ongoing process.…”

Section: Communicationmentioning

confidence: 99%

Relationship Marketing and Customer Retention - A Systematic Literature Review

Rosário,

Casaca

2023

Studies in Business and Economics

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Relationship marketing is the process of establishing, maintaining, and improving solid relationships with a company’s customers and other stakeholders. Relationship marketing can significantly impact customer satisfaction, trust, commitment, and communication, which are critical in customer retention and increasing the probability of using a company’s products or services in the future. With globalization and technological advancements, competition and consumer demands have become more complicated, prompting firms to employ strategies that strengthen customer loyalty and trust for long-term relationships. This paper aims to identify research trends in the field through a systematic bibliometric literature review of research on relationship marketing and customer retention. The review includes 61 articles published in the Scopus® database, presenting up-to-date knowledge on the topic. The bibliographic search included peer-reviewed articles published up to 2022. The findings indicate that relationship marketing provides a win-win solution: customers benefit from special and unique treatment under relationship marketing, and companies benefit from stronger customer relationships that eventually translate to higher profitability and performance in target markets’ marketing initiatives. Relationship marketing produces multiple opportunities and benefits that facilitate the creation, maintenance, and improvement of customer retention programs.

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Section: Communicationmentioning

confidence: 99%