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Bullion

Keywords

Relationship Marketing (RM), Relationship Quality (RQ), Customer retention, Bank services.

Abstract

The study set out to determine the impact of Relationship Marketing (RM) on relationship quality (RQ), with respect to the services Nigerian banks deliver to their clients. Three hypotheses were formulated to drive the study. Survey research design was adopted using a 48-item Likert style questionnaire to capture the opinions of valued clients. The study covered the six geo-political zones in Nigeria with 4 states drawn randomly from each zone. Extensive literature on RM and RQ were reviewed. Models/theories were lucidly discussed with the study evolving the quality/customer satisfaction model which is a modification of Zineldin's (2006) technical and functional model of quality. Of the 1,080 questionnaires distributed to the l9 banks in Nigeria 1,000 were found usable adopting accidental sampling technique. Using SPSS vs. 17 correlations and multiple regression operations were performed on the data collected. Outcome revealed that out of the 9 predictor variables, 8 were positively associated with RQ, thus warranting the rejection of the null hypothesis in hypothesis 1. No significant impact was observed wit to RM and RQ, the closeness of their means and standard deviations notwithstanding. Regression outcome revealed the predictor variables of competence, communication, and timeliness of service delivery, efficiency and courtesy to be highly significant of 5%. However, factors of trust, commitment of bank service officers, customer complaint handling and level of bonding were not significant. Indeed, the factors of complaint handling and commitment to service delivery have negative Beta-coefficients. ln the light of these outcomes, the researchers recommend, among others; that banks in Nigeria should improve on training and motivation of service personnel to remedy poor complaints handling and low staff commitment. On account of poor impact of RM on RQ, the study recommends managerial wholesale adoption of RM practices with increased use of e-platforms. Managers are also advised to evolve better customer-centric policies to improve depositors' confidence and loyalty.

Author Bio

The author is of the Department of Business Administration/Marketing, Delta State University. .

Publication Title

CBN Bullion

Issue

1

Volume

40

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