Title : | Impact of relationship marketing practices on customer satisfaction and loyalty: a study of Nepalese commercial banks | Material Type: | printed text | Authors: | Sanjeeb Bhatta, Author | Publication Date: | 2018 | Pagination: | 98p. | Size: | GRP/Thesis | Accompanying material: | 10/B | Languages : | English | Descriptors: | Customer satisfaction
| Class number: | 658.812 | Abstract: | Banking industries are very competitive, and it is difficult for banks to provide unique banking services as required by clients. To overcome this challenge banks can benefit from superior relationship marketing, because the clients focus on the service aspect of the bank and the level of interaction when evaluating a service firm. Firm's and client relationships in service industries are important as they influence the satisfaction, support and retention of banking clients.
Relationship marketing practice has received much attention in both academy and practice areas in the last few decades. Over the last decade relationship marketing began to dominate the marketing field. Relationship marketing is concerned about building customer satisfaction and loyalty by providing value to all the parties involved in the relational exchanges as, customer loyalty is the final goal of relationship marketing.
Business environments are characterized by increasingly saturated markets, caused by changes in the nature of competition and an ever-growing imperative to attain a comprehensive appreciation of customer needs. Matching the growing complexity of the business environment has led to an ever-more diversified and demanding customer base.
Customer relationship management is about managing customer knowledge to be understood and serve them and it is a multi-dimensional concept which places customers at the center of an organization where customer service is an important component of customer relationship management, however this notion is also concerned with coordinating customer relations across all business functions.
Customer loyalty is winning the confidence of the customers in favor of an organization such that the relationship becomes a win-win situation for both the organization as well as the customer. For this reason, it is pretty important in intensively competitive environment to be in regular contact with the customers and to follow the changes in them closely.
The major purpose of this study is to analyze the impact of relationship marketing on customer satisfaction and loyalty in Nepalese commercial banks. This study includes 20 commercial banks within Kathmandu valley. Total number of observation for the study consists of 200 respondents for analyzing the relationship between the relationship marketing practices and customer satisfaction and loyalty. For the selection of the sample respondent, convenience sampling has been used.
The result shows that trust is positively correlated to customer satisfaction and loyalty. It means that higher the level of trust higher would be customer satisfaction and loyalty. Similarly, commitment is positively related to customer satisfaction and loyalty. It indicates that more the banks are committed in providing services to the customers, higher would be the customer satisfaction and loyalty. Likewise, communication is positively related to customer satisfaction and loyalty, which indicates that effective communication, leads to higher customer satisfaction and loyalty. Also, the result shows that conflict handling is positively correlated to customer satisfaction and loyalty. It means that better the conflict handling process, higher would be the customer satisfaction and loyalty.
The regression result shows that beta coefficients for trust are positive with customer satisfaction and loyalty. It indicates that trust has a positive impact on customer satisfaction and loyalty. The beta coefficients for communication are positive with customer satisfaction and loyalty. It reveals that effective communication has a positive impact on customer satisfaction and loyalty. Likewise, the result shows that beta coefficients for conflict handling are positive with customer satisfactionand loyalty. It reveals that conflict handling has positive impact on customer satisfaction and loyalty. Likewise, the positive beta coefficients for commitment with customer satisfaction and loyalty denote that commitment has positive impact on customer satisfaction and loyalty.
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Impact of relationship marketing practices on customer satisfaction and loyalty: a study of Nepalese commercial banks [printed text] / Sanjeeb Bhatta, Author . - 2018 . - 98p. ; GRP/Thesis + 10/B. Languages : English Descriptors: | Customer satisfaction
| Class number: | 658.812 | Abstract: | Banking industries are very competitive, and it is difficult for banks to provide unique banking services as required by clients. To overcome this challenge banks can benefit from superior relationship marketing, because the clients focus on the service aspect of the bank and the level of interaction when evaluating a service firm. Firm's and client relationships in service industries are important as they influence the satisfaction, support and retention of banking clients.
Relationship marketing practice has received much attention in both academy and practice areas in the last few decades. Over the last decade relationship marketing began to dominate the marketing field. Relationship marketing is concerned about building customer satisfaction and loyalty by providing value to all the parties involved in the relational exchanges as, customer loyalty is the final goal of relationship marketing.
Business environments are characterized by increasingly saturated markets, caused by changes in the nature of competition and an ever-growing imperative to attain a comprehensive appreciation of customer needs. Matching the growing complexity of the business environment has led to an ever-more diversified and demanding customer base.
Customer relationship management is about managing customer knowledge to be understood and serve them and it is a multi-dimensional concept which places customers at the center of an organization where customer service is an important component of customer relationship management, however this notion is also concerned with coordinating customer relations across all business functions.
Customer loyalty is winning the confidence of the customers in favor of an organization such that the relationship becomes a win-win situation for both the organization as well as the customer. For this reason, it is pretty important in intensively competitive environment to be in regular contact with the customers and to follow the changes in them closely.
The major purpose of this study is to analyze the impact of relationship marketing on customer satisfaction and loyalty in Nepalese commercial banks. This study includes 20 commercial banks within Kathmandu valley. Total number of observation for the study consists of 200 respondents for analyzing the relationship between the relationship marketing practices and customer satisfaction and loyalty. For the selection of the sample respondent, convenience sampling has been used.
The result shows that trust is positively correlated to customer satisfaction and loyalty. It means that higher the level of trust higher would be customer satisfaction and loyalty. Similarly, commitment is positively related to customer satisfaction and loyalty. It indicates that more the banks are committed in providing services to the customers, higher would be the customer satisfaction and loyalty. Likewise, communication is positively related to customer satisfaction and loyalty, which indicates that effective communication, leads to higher customer satisfaction and loyalty. Also, the result shows that conflict handling is positively correlated to customer satisfaction and loyalty. It means that better the conflict handling process, higher would be the customer satisfaction and loyalty.
The regression result shows that beta coefficients for trust are positive with customer satisfaction and loyalty. It indicates that trust has a positive impact on customer satisfaction and loyalty. The beta coefficients for communication are positive with customer satisfaction and loyalty. It reveals that effective communication has a positive impact on customer satisfaction and loyalty. Likewise, the result shows that beta coefficients for conflict handling are positive with customer satisfactionand loyalty. It reveals that conflict handling has positive impact on customer satisfaction and loyalty. Likewise, the positive beta coefficients for commitment with customer satisfaction and loyalty denote that commitment has positive impact on customer satisfaction and loyalty.
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