AN ANALYSIS OF RELATIONSHIP MARKETING STRATEGY ON CUSTOMER LOYALTY IN COMMERCIAL BANKS

Abstract

Aim– The aim of the study is to analyze the relationship marketing strategy on customer loyalty in Commercial Banks.

Design - – An interview schedule derived from previous studies and from the relevant literature was duly filled by 110 commercial bank customers in India. Multiple regression analysis is used to assess the impact on customer loyalty with seven key constructs of relationship marketing (trust, commitment, communication, conflict handling, shared values, keeping promises and cooperation).

Findings – All the variables have a significant effect and predict a good share of the variation in customer loyalty. Moreover, the identified factors are greatly related to one another.

Research implications – The relationships analyzed in this study be worthy for more research.

Implications  – It is reasonable to conclude that, customer loyalty can be created, reinforced and retained by marketing plans meant at building trust, demonstrating commitment to service, communicating with customers in a timely, reliable and practical fashion, handling conflict competently, sharing the values with customer Keeping Promises forever  and Maintaining Cooperation.

Value – Reinforces and refines the body of knowledge relating to customer loyalty in service sector.