| Title : | Relationship marketing and customer loyalty : a study of Nepalese commercial banks | | Material Type: | printed text | | Authors: | Bhoj Raj Bhandari, Author | | Publication Date: | 2017 | | Pagination: | 91p. | | Size: | GRP/Thesis | | Accompanying material: | 9/B | | Languages : | English | | Descriptors: | Customer services
| | 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 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 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 loyalty in Nepalese commercial banks. This study includes 20 commercial banks within Kathmandu valley. Total number of observation for the study consists of 160 respondents for analyzing the relationship between the RM practices and customer loyalty. For the selection of the sample respondent, convenience sampling has been used.
The result shows that trust is positively correlated to customer loyalty. It means that higher the level of trust higher would be customer loyalty. Similarly, commitment is positively related to customer loyalty. It indicates that more the banks are committed in providing services to the customers, higher would be the customer loyalty. Likewise, communication is positively related to customer loyalty, which indicates that more the flow of communication between organization and the customers, higher would be the customer loyalty. Also, the result shows that conflict handling is positively correlated to customer loyalty. It means that better the conflict handling process, higher would be the customer loyalty.
The regression results show that beta coefficient of trust is positive. It indicates that higher the level of trust, higher would be the customer loyalty. The beta coefficient for communication is positive with customer loyalty. The positive beta coefficient for communication indicate that more the flow of communication between organization and the customers higher would be the customer loyalty. Likewise, the result shows that beta coefficient for conflict handling is positive. This indicated that better the conflict handling process, higher would be customer loyalty. Likewise, the results show that beta coefficient for commitment is also positive. It indicated that more the banks are committed in providing services to the customers, higher would be the customer loyalty.
|
Relationship marketing and customer loyalty : a study of Nepalese commercial banks [printed text] / Bhoj Raj Bhandari, Author . - 2017 . - 91p. ; GRP/Thesis + 9/B. Languages : English | Descriptors: | Customer services
| | 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 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 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 loyalty in Nepalese commercial banks. This study includes 20 commercial banks within Kathmandu valley. Total number of observation for the study consists of 160 respondents for analyzing the relationship between the RM practices and customer loyalty. For the selection of the sample respondent, convenience sampling has been used.
The result shows that trust is positively correlated to customer loyalty. It means that higher the level of trust higher would be customer loyalty. Similarly, commitment is positively related to customer loyalty. It indicates that more the banks are committed in providing services to the customers, higher would be the customer loyalty. Likewise, communication is positively related to customer loyalty, which indicates that more the flow of communication between organization and the customers, higher would be the customer loyalty. Also, the result shows that conflict handling is positively correlated to customer loyalty. It means that better the conflict handling process, higher would be the customer loyalty.
The regression results show that beta coefficient of trust is positive. It indicates that higher the level of trust, higher would be the customer loyalty. The beta coefficient for communication is positive with customer loyalty. The positive beta coefficient for communication indicate that more the flow of communication between organization and the customers higher would be the customer loyalty. Likewise, the result shows that beta coefficient for conflict handling is positive. This indicated that better the conflict handling process, higher would be customer loyalty. Likewise, the results show that beta coefficient for commitment is also positive. It indicated that more the banks are committed in providing services to the customers, higher would be the customer loyalty.
|
|
Refine your search Apply to external sourcesRelationship marketing and customer loyalty : a study of Nepalese commercial banks / Bhoj Raj Bhandari
