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Impact of Relationship Marketing Orientation on Customer Loyalty of Select Banks in the District of Burdwan, West Bengal


Affiliations
1 Institute of Cost Accountants of India, Kolkata, India
2 Acharya Bangalore B-School, Bengaluru, India
 

In today's competitive world, customers are in the center of the banking companies' attention and their satisfaction is the main factor in gaining competitive advantage. The fundamental prerequisite for achieving customers' satisfaction is to fully meet or exceed their needs, wants, desires,expectations, and their willingness to purchase products/services. Customer loyalty emerges as one of the most important challenges faced by bank marketers. Cultivating loyal customers is frequently argued to be the single most important driver of organizations' long-term financial performance and customer base, which can lead to increased sales and customer share, lower costs, and higher prices on services. The purpose of this study is to empirically investigate the impact of relationship marketing orientation on customer loyalty in select banks in the district of Burdwan, West Bengal. The findings contribute to understanding the relationships between different dimensions of relationship marketing orientation, customer loyalty and demographic variables; provide critical implications for bank managers; and highlight directions for future research.

Keywords

Relationship Marketing, Customer Loyalty, Trust, Commitment.
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  • Impact of Relationship Marketing Orientation on Customer Loyalty of Select Banks in the District of Burdwan, West Bengal

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Authors

Pradipta Gangopadhyay
Institute of Cost Accountants of India, Kolkata, India
Solai Bhaskaran
Acharya Bangalore B-School, Bengaluru, India

Abstract


In today's competitive world, customers are in the center of the banking companies' attention and their satisfaction is the main factor in gaining competitive advantage. The fundamental prerequisite for achieving customers' satisfaction is to fully meet or exceed their needs, wants, desires,expectations, and their willingness to purchase products/services. Customer loyalty emerges as one of the most important challenges faced by bank marketers. Cultivating loyal customers is frequently argued to be the single most important driver of organizations' long-term financial performance and customer base, which can lead to increased sales and customer share, lower costs, and higher prices on services. The purpose of this study is to empirically investigate the impact of relationship marketing orientation on customer loyalty in select banks in the district of Burdwan, West Bengal. The findings contribute to understanding the relationships between different dimensions of relationship marketing orientation, customer loyalty and demographic variables; provide critical implications for bank managers; and highlight directions for future research.

Keywords


Relationship Marketing, Customer Loyalty, Trust, Commitment.

References





DOI: https://doi.org/10.23874/amber%2F2017%2Fv8%2Fi2%2F166105