Relationship Marketing on Loyal Customer (original) (raw)
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Relationship marketing and customer loyalty by Nelson Oly Ndubisi
Abstract Purpose – To examine the impact of relationship marketing strategy on customer loyalty. Design/methodology/approach – A questionnaire derived from previous studies and the relevant literature was completed by 220 bank customers in Malaysia. Multiple regression analysis assessed the impact on customer loyalty of four key constructs of relationship marketing (trust, commitment, communication and conflict handling). Findings – The four variables have a significant effect and predict a good proportion of the variance in customer loyalty. Moreover, they are significantly related to one another. Research limitations/implications – The relationships investigated in this study deserve further research. Because the data analysed were collected from one sector of the service industry in one country, more studies are required before general conclusions can be drawn. Practical implications – It is reasonable to conclude, on this evidence, that customer loyalty can be created, reinforced and retained by marketing plans aimed at building trust, demonstrating commitment to service, communicating with customers in a timely, reliable and proactive fashion, and handling conflict efficiently. Originality/value – Reinforces and refines the body of knowledge relating to customer loyalty in service industries. Keywords Relationship marketing, Customer loyalty, Banks, Malaysia Paper type Research paper
2013
be setup in the Northern peninsula. Already 11 banks have commenced operations. Hence it is clear that a bank operation in the war affected area is booming. It is worthwhile to compare this operation by looking at the perspective of private bank and state bank. The purpose of this study was to find out how customer relationship marketing (CRM) can be sued as a strategy to compete in the market. This study found out how the concept of relationship marketing helps to increase the operation in the banking system. Primary data were collected from the customers of one state bank and private bank through questionnaire and interviews. The Sample was 100 customers who visit once in a week at least. Collected data has analyzed by using both quantitative and qualitative methods to find out the Relationship marketing orientation of customers. Relationship marketing has been operationalized by using the model of trust and commitment (Morgan and Hunt 1994). It has found out there is a significan...
DeReMa (Development Research of Management): Jurnal Manajemen, 2016
A large number of banks let people be more free in choosing the best bank for their needs. People can freely switch from one bank to another which makes the loyalty level of bank customers decrease, even though the efforts and cost spent for maintaining the customers is cheaper than the efforts and cost spent on getting new customers. Relationship is one of the answers to the problem, relationship marketing is a marketing principle which emphasizes and takes effort in maintaining good long term relationship with customers. This research aims to, analyze the influence competence, communication, and conflict handling towards relationship quality, mediated by relationship quality, and towards customer loyalty. The research was conducted by collecting quantitative data through questionnaires distributed to 130 respondents. The objects of this research were the priority customers at Niaga Bank, and it used purposive sampling technique. This research conducted by using Structural Equation...
RELATIONSHIP MARKETING - University of Kelaniya
Banking sector can be considered as main recipient in recent economic downturn. There is a need for better strategies in this sector. As a result of the continuing movement towards deregulation and the associated increase in competition, establishing a long-term institutional relationship with corporate clients becomes of great importance to the banks in order to gain a moderate or greater share of the financial market and of a corporation's business. In effect, because the bank provides its corporate client with additional facilitating and supporting services, the demand for banking products and services by a partnership relationship client will be less sensitive to price than is the demand by a shortterm, non-relationship customer. This study examines the commitment-trust dimension of the relationship marketing paradigm in Sri Lankan's corporate banking sector. Random sample method has been used with questionnaire. The findings show that the marketing strategy and a long-term marketing orientation were positively correlated with customer commitment and trust. And To continue to be successful in the corporate sector, banks must invest in the long-term relationship marketing activities.
Managing effective Relationship Marketing Practices are increasingly important in the banking industry. Since the length in years of customer relationships are one of the most important factors that contribute to the profitability. As a result Customer Satisfaction may be one important driver of Customer Retention The goal of this research project is identify and assess impact relationship marketing practice on loyalty in local commercial banking sector in Jaffna. The research was mainly based on data, collected from customers in Jaffna commercial banks. The results of the statistical analysis showed that is a strong positive impact of relationship marketing practices on customer on Loyalty. Therefore these findings will help the banks to establish a customer oriented strategy to retain their customers in future.
This study is conducted to evaluate the impact of relationship marketing's underpinnings on relationship quality (customers' trust and satisfaction) and then determine the impact on customers' loyalty in Hormozghan Cement Company. A researcher built questionnaire (derived from previous studies and the relevant literature) was completed by 246 Company's customers in Iran. Correlation analysis, Multiple Regression analysis and Path analysis assessed the impact on customer loyalty of four key constructs of relationship marketing (product quality, product price, brand image, value offers) and mediators. Customer loyalty is basically formed by the constructs of product quality, price quality, brand image and value offers via mediating role of costumer trust and satisfaction. The relationships investigated in this study deserve further research. Because the data analyzed were collected from one company of the industry in a sole Country, more studies are required before general conclusions can be drawn. It is reasonable to conclude, on this evidence, which customer loyalty can be created, reinforced and retained by marketing plans aimed at building satisfaction, demonstrating product quality to customers and getting in touch with them in a timely manner. This study is the first research of the subject within the Cement Industry
Implementasi Customer Relationship Management DI Usaha Mikro Kecil Dan Menengah Bidang Otomotif
Jurnal Terapan Abdimas, 2018
This research discuss the Implementaion of Customer Relationship Management (CRM) strategy in Small and Medium Entreprise "Trijaya Ban 83" workshop that focusing on service repairment industry. The mapping of business condition mention that there is no service differentiation with big and small customer. There are some gap situation in Trijaya Ban 83 workshop such as there is no intense service treatment for customers who generate biggest profit and there is no comprehensive customer database. In this business coaching, coach want to help the business to create a comprehensive Customer Relationship Management Strategy in purpose to increase customer loyalty and keep contributing profit to Trijaya Ban 83 workshop. Methods used in this thesis is qualitative method to gather and analyze customer data of Trijaya Ban 83 workshop in 2016. The result of this research is to create a customer categorization that needs service differently also the implementation to the focus category. The purpose of this Customer Relationship Management implementation is for the workshop to have a systematic selling dan the customer become more loyal in the thight competition of service repairment industry.
BISMA (Bisnis dan Manajemen), 2018
This research focus on application of customer relationship management in relation with customer loyality. Object of this research is PT Antika Raya Surabaya, because this company had appropriate characteristic with this method. Data is base on quesioner, with 30 respondance who live in Surabaya and customer of his company.According to result of signification test, correlation between all customer variables of customer relationship management with customer loyality has real relation or signification between customer variable relationship with customer loyality.
Relationship Marketing and Customer Satisfaction: A Conceptual Perspective
Binus Business Review, 2016
This article examined the existing body of literature on transaction and relationship marketing. The specific objectives were to develop a conceptual framework to establish the relationship between relationship marketing and customer satisfaction and to examine the components of relationship marketing on the present ever dynamic world of business. The study identified relationship marketing variables and their impact on customer satisfaction. The framework aimed to provide insights into the studies on relationship marketing factors such as trust, commitment, communication, and service quality influence on customer satisfaction. The model provided a basis for empirical studies on the factors of relationship marketing and outcomes of customer satisfaction in developing nations. The study recommends that relationship marketing dimensions such as building customer’s trust, commitment to customers, communication, and service quality should be properly managed and maintained by service pr...
The Malaysian Takaful industry is considered a growing industry with significant progress and continues to play an important socioeconomic role within the economy. In the new global economy, service providers are competing to develop and retain customers through increased loyalty. Thus, this research was carried out to determine the relationship marketing elements which is trust, commitment, conflict handling and communication that influence customer loyalty toward Prudential BSN Takaful in Kedah. A total of 100 customers of Prudential BSN Takaful in Kedah was selected as respondents of the survey questionnaire which was randomly distributed. The obtained data were analyzed using Pearson's Correlation and Multiple Regressions. The finding shows that trust, commitment, conflict handling and communication are positively correlated with customer loyalty. Element trust was the strongest predictor of customer loyalty. Based from this research, if Prudential wants to maintain and develop loyal customers they should be trustworthy and committed to their service ethic and should resolve the conflict that a raised in a conduct that will disqualify significant losses and inconvenience to the customer.