Article

Relationship marketing: Customer commitment and trust as a strategy for the smaller Hong Kong corporate banking sector

December 2003
International Journal of Bank Marketing 21(6/7):347-358

December 2003
21(6/7):347-358

DOI:10.1108/02652320310498492

Authors:

After the Chinese takeover of Hong Kong its smaller banks carved out a niche for themselves in the corporate market by embracing relationship marketing as a way of doing business. Examines the commitment-trust dimension of the relationship marketing paradigm in the Hong Kong’s corporate banking sector. The findings show that the Hong Kong banks’ marketing strategy and a long-term orientation were positively correlated with customer commitment and trust; communications and relational norms were positively correlated with trust; relationship benefits were positively correlated with customer commitment; and the banks’ reputation was negatively correlated with trust and commitment. To continue to be successful in the corporate sector, smaller banks must invest in the long-term relationship marketing infrastructures to support a customer-oriented approach. To enhance the corporate customers’ confidence further, the banks must develop parallel communication channels with their customers, show flexibility in their dealings and maximize mutual relationship benefits by minimising drastic recovery actions.

Are SMEs relationship seekers or price watchers? Target marketing implications for banks

Article

Full-text available

May 2022
J Financ Serv Market

Varying needs of the customers lead to diverse buying practices among them. Hence, banks cannot target customers with old mass marketing strategy rather they need to be customer centric and focus on target marketing strategy where segments should be identified on some basis and appropriate positioning should be done in the targeted markets. The purpose of the paper is to explore the bank selection criteria of SMEs and to identify the segments of SMEs market based on their bank selection criteria so that they can be targeted through appropriate positioning strategies. In the present study, primary data regarding bank selection criteria of SMEs have been collected through a self-structured scale from SMEs of two states of India namely Punjab and Uttar Pradesh. Multistage sampling was used to collect data from 406 SMEs. Exploratory Factor Analysis was employed to extract the factors measuring bank selection criteria of SMEs. Further, a measurement model was specified under Structural Equation Modeling to check reliability and validity of the scale. Behavioral segmentation of SMEs was done based on their bank selection criteria using Cluster Analysis. Six factors namely Bank Attributes, Service Quality, Bank Personnel, Financial Factors, Accommodation of Credit Needs and Business Knowledge were found to be considered by SMEs while choosing a bank. Behavioral segmentation of SMEs was done based on their bank selection criteria which concluded two SMEs clusters namely Relationship Seekers and Price Watchers where the major chunk is relationship seekers. Appropriate positioning strategy is suggested for banks based on the analysis done. Extensive literature is available exploring bank selection criteria of SMEs. Present research makes a step-up in the available literature by suggesting a differentiated marketing strategy for banks to attract SMEs customers. A relationship-oriented strategy should be adopted for established old firms whereas newly established firms should be targeted with transaction-oriented strategy by being flexible in interest rates and collateral as well as margin requirements. This can enable banks to customize or tailor their marketing activities more accurately.

An approach to customer trust In the portuguese banking system: Uma abordagem à confiança do cliente no Sistema bancário português

Article

Full-text available

Mar 2023

Globalization, seen as a simultaneous transformation in economics, politics and culture, has led to more intense competition in different sectors of the economy. In the banking sector the analysis of customer satisfaction, loyalty and trust has been considered of great interest in recent years. In this study, we analyse the development of bank customer satisfaction and loyalty and, with more detail, the development of customer trust, using the results of surveys carried out with relevant statistical samples in Portugal and, for the first time, we also extend this analysis to bank customers in Spain. Scientific development, particularly in the field of behavioural economics, which includes many contributions from psychology and sociology, as well as in the field of neurology, which gave rise to neuroeconomics, allowed for the adaptation and change of traditional economic decision-making theories, based only on economic rationality, in the wake of the Cartesian dualism and Newtonian atomism, allowing for a better understanding of decision-making. It has been demonstrated in previous studies that the currently most relevant element for customer approval and loyalty to their main banking institution in Portugal is trust. Therefore, the growth or downward trend of these two variables will be a good indicator to understand the development of customer trust in banking evolution. It has been verified that customer trust in banking and in the development of banks in the last years is not as negative as could be expected, considering all the problems that have affected this sector, mainly in Portugal. However, customer satisfaction has been declining over the past two years. A significant change in the banking activity is taking place, a different approach has been implemented, and this change may lead to a decline in customer trust.

How to Develop Trust in the Distrusted Banking System of the Kurdistan Region in Iraq

Thesis

Full-text available

Jul 2022

Mohammed Mohammed Ameen

Financial institutions including banks play an important role in national economies through providing liquidity to both businesses and households by playing a role as an intermediary between surplus and deficit holdings. When this role is not performed efficiently, economic growth slows down. Banks, as a major component of the financial industry, can have a positive impact on the economic growth of any country. In countries in politically unstable and or developing regions if banks are not seen as trustworthy and positively supportive of their people their usage is likely to be very limited. The banks in the Kurdistan Region (KR) are characterised by being inefficient, therefore, their current role in economic development is very limited. Due to political and security instability, most people in the KR prefer to keep their money in their houses instead of putting it in banks. At present, there is little research into how this distrust of the banking system could be reversed, enabling it to contribute to economic recovery in the region. This study merged qualitative and quantitative approaches in sequential and equal weight. The primary data collection for this study started with the collection of qualitative data through conducting semi-structured interviews with bank managers and government officials at the ministry of finance in order to identify the main obstacles that they believed faced the current banking system in the KR. Analysis of these results led to the design of a questionnaire survey involving 520 current and potential bank customers to identify the main barriers which cause a continuing lack of trust amongst KR people in the banking system. The study confirmed that the banking system in the KR has either never gained or completely lost the trust of the KR. It has identified several reasons for this including inertia amongst national banks, limited literacy in certain sections of the population and a risk-adverse culture. One of the other major factors preventing the use of banks within the KR is the lack of trust in banks. However, the study has also identified sections of the population who do have a positive interaction with banks, these are mainly younger adults who have been exposed to western banking systems including e-banking. The contribution of this study is to suggest that trust in banks could be developed if, in a hierarchical and mainly rural society, the national government were to actively promote the use of banks, including international banks in a transparent and fair way. However, the results also suggest that this would only work if those who had positive experiences were permitted to continue their interactions with international banks when in their home country. That is to say, in reflecting and building upon the jump into mobile phone technology in developing countries, those who do have trust in banking systems should be allowed to retain and or expand usage of those trusted companies upon their return to their home via the use of modern technology. Their positive interaction would encourage take up by other members of their households and social groups.

Determinants of Relationship marketing that improves Customer Satisfaction in Banking Industry of Pakistan

Article

Full-text available

Feb 2022

Relationship marketing is a widely discussed topic in developed countries but it has not been studied in Pakistan as much as it needs attention due to the significance of it in various operations of the banking industry. This study focuses on how relationship marketing played its role in increasing customer satisfaction for banking sector. From the literature review, five major determinants of relationship marketing were identified and all five determinants were found to have a significant effect on customer satisfaction. Pilot test were conducted for testing the accuracy of the proposal and assessing the feasibility of the study. Total 382 responses from banking consumer from Lahore, Pakistan was collected using convenience technique. Histogram and P-plots were used to check the normality of data and linear regression analysis were performed to check the major determinants of relationship marketing. This study found that, the banks which are trustworthy among customers show more commitment towards them, responds quickly in customer complaints, communicates effectively with their customers and are more technology oriented can create customer satisfaction easily.

AN APPROACH TO CUSTOMER TRUST IN THE PORTUGUESE BANKING SYSTEM

Chapter

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Oct 2021

ANÁLISE E ACOMPANHAMENTO DO PREÇO DA CESTA BÁSICA DO MUNICÍPIO DE DIANÓPOLIS-TO

Chapter

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Oct 2021

O CUSTO DE RESSEGURO NO MERCADO BRASILEIRO DE SEGUROS GERAIS ANTES E APÓS O TÉRMINO DO MONOPÓLIO

Chapter

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Oct 2021

RELATIONSHIP MARKETING AS A TOOL FOR GAINING COMPETITIVE EDGE AND PROFITABILITY IN THE BANKING INDUSTRY: AN EMPIRICAL ANALYSIS

Article

Jun 2021

This study was carried out to examine how relationship marketing servers as a tool for profitability in banking industry in Nigeria. This study investigated ten (10) commercial licensed banks which were chosen at random from different locations in Lagos State: Zenith Bank, First Bank, United Bank for Africa plc, Access Diamond, Sterling Bank, Heritage Bank, Polaris Bank, Wema Bank, Guarantee Trust Bank and First city monumental plc. The study employed primary data collected in ensuring that valuable data were obtained for the data analysis. A total number of one hundred and twenty (120) copies of questionnaire were administered to staff of the selected banks for which (110) were used for analysis. After cleaning and sorting the copies of the accepted questionnaire they were fed into the statistical package for social science (SPSS). The questionnaire was structured in line with the research objectives, questions and hypothesis of the study. The Pearson product moment correlation coefficient was used to confirm formulated hypotheses. The study found that relationship marketing in Nigeria banks improves the bank’s profitability and that the presence of valuable and high-quality products and services enhances the bank profitability. The study concluded that, banks’ most important assets are the customers and as such, they need to be managed in a manner that will ensure that their expectations are met. The study also recommended that the relation managers and other managers, the staffs in the related departments and other stakeholder involved in matters of the bank’s operations continue with the spirit of understanding the requirements of Relationship Marketing, as well as other issues that governs it.

Comportamento dos clientes da banca portuguesa em período de crise económica

Thesis

Full-text available

Sep 2014

António Cabeças

A análise do comportamento do cliente bancário tem sido considerada com grande interesse pela banca a nível internacional nos últimos anos, contribuindo para a deteção e implementação de melhorias nos processos existentes e na oferta de produtos e serviços, com influência no aumento da satisfação dos clientes e no aumento do seu nível de lealdade. Sabendo que, numa perspetiva económica, a retenção de atuais clientes é muito importante para as empresas em geral e também para o setor bancário, que se enquadra num mercado cada vez mais competitivo e mais globalizado, este tema reveste-se ainda de maior importância em períodos de crise económica e social. Neste estudo analisamos o comportamento dos clientes particulares da banca portuguesa através de variáveis económicas e de dados obtidos a partir de um questionário efetuado a clientes de diferentes bancos a operar em Portugal, comparando a informação relativa ao período imediatamente anterior à atual crise económica que, em Portugal, se iniciou no ano de 2008, com a obtida no final do ano de 2013. Concluímos, através desta análise, que a crise económica está a influenciar negativamente o volume de poupança e de crédito dos clientes da banca portuguesa, a condicionar a sua satisfação e a originar uma diminuição do seu nível de lealdade. Concluímos, também, que os fatores biológicos, emocionais e culturais influenciam o comportamento dos indivíduos e, por conseguinte, os clientes da banca, nos vários contextos, nomeadamente em período de crise económica e social. Identificamos neste estudo que os aspetos que atualmente ganham mais relevância para a satisfação e lealdade dos clientes com o seu banco principal são a confiança, a clareza das informações prestadas pelo banco, o preço dos produtos e serviços bancários oferecidos, a capacidade de resolução de problemas e o aconselhamento prestado, confirmando a hipótese de que os clientes que aumentam a satisfação com o seu banco principal são os que apresentam maior propensão para aumentar o volume de recursos bancários aplicados na banca.

An Approach to Customer Trust in the Portuguese Banking System

Article

Full-text available

Jun 2019

Globalization, seen as a simultaneous transformation in economics, politics and culture, has led to more intense competition in different sectors of the economy. In the banking sector the analysis of customer satisfaction, loyalty and trust has been considered of great interest in recent years. In this study, we analyse the development of bank customer satisfaction and loyalty and, with more detail, the development of customer trust, using the results of surveys carried out with relevant statistical samples in Portugal and, for the first time, we also extend this analysis to bank customers in Spain. Scientific development, particularly in the field of behavioural economics, which includes many contributions from psychology and sociology, as well as in the field of neurology, which gave rise to neuroeconomics, allowed for the adaptation and change of traditional economic decision-making theories, based only on economic rationality, in the wake of the Cartesian dualism and Newtonian atomism, allowing for a better understanding of decision-making It has been demonstrated in previous studies that the currently most relevant element for customer approval and loyalty to their main banking institution in Portugal is trust. Therefore, the growth or downward trend of these two variables will be a good indicator to understand the development of customer trust in banking evolution. It has been verified that customer trust in banking and in the development of banks in the last years is not as negative as could be expected, considering all the problems that have affected this sector, mainly in Portugal. However, customer satisfaction has been declining over the past two years. A significant change in the banking activity is taking place, a different approach has been implemented, and this change may lead to a decline in customer trust.

Analysis of Internal and Relational Marketing Influences on Customer Loyalty Through Customer Satisfaction in Bank KalSel Sharia

Conference Paper

Full-text available

Jan 2020

RELATIONSHIP MARKETING PRACTICES AND CUSTOMER LOYALTY IN BANKS: TESTING THE MEDIATING ROLE OF PERCEIVED SWITCHING COSTS

Thesis

Full-text available

Sep 2023

Ganaie Tawseef

With the opening up of the economies in 1991 and thereafter establishment of new private sector banks, small payment banks and foreign banks has changed the landscape of competition in the Indian banking sector. The increase in competition coupled with technological shift put immense pressure for up-gradation of technology and numerous demands on service providers to meet the changing demands of bank customers effectively and efficiently. Moreover, banking sector forms an integral component of the financial sector which is considered as the back-bone of Indian economy. Hence, it became imperative for banks to extend services beyond the conventional banking to compete with the newly established banks. Banks also resorted to adopt relationship marketing practices to enhance, retain and maintain long term relationships with the valuable customers in order to comprehend and satisfy their needs. For instance, banks began to offer financial and non-financial benefits (cross selling services, yearly calendars, etc.), adopt practices to develop social ties with customers (sending greetings on important occasions, training employees to treat customers with politeness), launched mobile applications with customizable interfaces to extend ease and convenience to customers and partnered with other service providers to enable quick grievance redressal system and wide range of services at one place to its customers. Banks also put in place various barriers for customers in the form of financial (Benefit and monetary loss cost), relational (personal relationship and brand relationship loss cost) and procedural switching costs (economic, evaluation and learning cost) to avoid customer switching. These all practices are imperative to ensure bank customers loyalty as the research is also evident on the universal facts that even if an organization is able to retain 5% of its existing customers, the profitability could be impacted 25 percent to 85 percent and acquiring new customers is five times costlier than retaining existing one (Weinstein, 2002; Anabila, et. al., 2012; Hasan, et. al., 2019). Hence, the impact of various relationship marketing strategies on customer loyalty is explicable. The effective implementation of relationship marketing practices has a potential to change the customer perspective regarding quality of bank services and exhort them to snow-ball the customer base through spreading positive-word-of mouth and referrals which, in turn, will favorably impacts business volume, profitability, diversion of funds for developmental purposes and brand image of the banks. Therefore, to meet the ever-changing needs of the customers, customer-centric approaches have indelible mark on customer experience, satisfaction and loyalty. Therefore, it becomes inevitable for the policy makers to take into consideration the customers stand whether the relationship marketing practices put any significant impact on relationship continuity and generating perceived switching barriers to retain the customer for long-lasting relationship. In view of the growing importance of relationship marketing practices in banks, present study was undertaken with an aim to (a) to assess the impact of relationship marketing practices on customer loyalty; (b) to study the relationship between relationship marketing practices and perceived switching costs; (c) to examine the relationship between perceived switching costs and customer loyalty and (d) to explore the mediating role of perceived switching costs between relationship marketing practices and customer loyalty. Both primary and secondary sources were employed to collect the data. Based on the extent literature, four levels of relationship marketing practices- financial, social, customization and structural bond were selected for the present study to measure the relationship marketing practices. The scale items (23) for measuring the relationship marketing practices construct were adapted from the studies conducted by Lin, et. al., (2003); Chen and Chiu, (2009); Garg, et. al., (2014); Kasiri, et. al., (2017) and Shanka and Buvik, (2019). Similarly, three types of perceived switching costs- financial, relational and procedural switching costs were selected to measure the perceived switching costs construct for which the scale items (12) have been adapted from Burnham, et. al., (2003). Furthermore, customer loyalty has been used as a one-dimensional construct with enriched facets of cognitive, affective and action loyalty for which scale items (09) were adapted from El-Manstrly and Harrison, (2013). All these scales were measured on a five-point Likert scale ranging from one (1) for ‘Strongly Disagree’ to five (5) for ‘Strongly Agree’. A total of 733 respondents were selected by following cluster sampling method which was used for final data analysis. The Statistical Package for the Social Science (SPSS-21) was used to analyze the data. Before carrying-out the exploratory factor analysis (EFA), questionnaire was pretested through debriefing technique on sixty (60) participants and feedback was incorporated to remove ambiguities to make questionnaire understandable. Exploratory Factor Analysis (EFA) with varimax rotation method was performed on 20 scale items of relationship marketing practices which extracted four factors (F1- structural bond, F2- customization bond, F3 - social bond and F4 – financial bond). In the same way, EFA was performed on 11 scale items of perceived switching costs which extracted three factors, namely, financial switching cost, relational switching cost and procedural switching cost. Again, EFA was performed on 09 scale items of customer loyalty which extracted only one dimension named as customer loyalty. The details of EFA on all three constructs, namely, relationship marketing practices, perceived switching costs and customer loyalty are given on pages 83, 86 and 88 respectively. Also, Confirmatory Factor Analysis (CFA) was conducted through SmartPLS software for the confirmation of the measurement scales through reliability assessment (Cronbach’s alpha and composite reliability test), discriminant validity (average variance extracted and factor loadings) and convergent validity indices (Fornell and Larcker Criterion and Heterotrait-Monotrait Ratio). Furthermore, following the recommendations of Hair, et. al., (2017, 2022) structural models was examined for multi-collinearity assessment, relevance and significance of structural model relationships, R-square, F-square and Q-square values in a sequenced manner. The mediation analysis was carried out using bootstrapping procedure proposed by Zhao, et. al., (2010). With regard to the first objective (to assess the impact of relationship marketing practices on customer loyalty in sampled organizations), the findings of the study revealed that there exists a significant positive impact of relationship marketing practices on customer loyalty (β=0.514; t= 11.667, p<0.01) which indicates effective implementation of relationship marketing practices are helpful in keeping the customers loyal to the organization. Furthermore, findings also revealed that financial (β=0.134; t=3.364, p<0.01), social (β = 0.143 ; t= 3.142, p < 0.01), customization (β = 0.153 ; t = 3.551, p < 0.01) and structural bond (β = 0.186 ; t = 4.697, p < 0.01) have significant positive impact on customer loyalty which indicates that the financial and non-financial benefit, social ties, customization features, quick service delivery process, quick grievance redressal system and innovative capabilities of the banks are very effective in keeping the customers loyal the service provider. Regarding the second objective (to study the relationship between relationship marketing practices and perceived switching costs), the bootstrap procedure results revealed that relationship marketing practices (β = 0.780; t = 3.551, p < 0.01) in unison have significant and positive impact on perceived switching costs. These results indicate that higher the effectiveness relationship marketing practices, higher will be the intensity of perceived switching costs. The results further revealed that financial (β = 0.077; t =2.106, p < 0.05), social (β = 0.381; t = 9.987, p < 0.01), customization (β = 0.264; t = 6.055, p < 0.01) and structural bond (β = 0.194; t = 5.295, p < 0.01) have significant positive impact on perceived switching costs which indicates that the financial and non-financial benefit, social ties, customer intimacy, mass customization, value added services and innovative capability of the service providers are very helpful in generating perceived switching barriers in the minds of customers which further helps them to retain the customers at dissatisfying events. The findings of the study regarding third objective (to assess the impact of perceived switching costs on customer loyalty) affirms that perceived switching costs in unison have significant positive impact on customer loyalty β coefficient = 0.280, t = 6.064, p-value < 0.01 which indicates higher the intensity of perceived switching costs, more it will be difficult for the customers to join the alternate service provider. Results further revealed that, except financial switching cost (β = 0.040, t = 1.056, p > 0.05), relational (β = 0.185, t = 4.804, p < 0.01) and procedural switching cost (β = 0.108; t = 2.536; p < 0.05) have significant positive impact on customer loyalty. These results indicate that developing more proximate relations with customers and having strict procedures for relationship exit wary the customers to join the alternate service provider. Regarding the fourth objective (to assess the mediating role of perceived switching costs between the relationship marketing practices and customer loyalty), the bootstrap method of mediation analysis shows that perceived switching costs plays complementary partial mediating role between the relationship of relationship marketing practices and customer loyalty with a magnitude of 29.78%. Furthermore, results revealed that except financial switching cost, relational and procedural switching costs also plays complementary partial mediating role between the relationship marketing practices and customer loyalty with a magnitude of 17.23% and 09.57% respectively. The study offers suggestions, on the basis of findings, to policymakers to be taken in to consideration for the overall development of the banking services, generating perceived switching costs and loyalty. These suggestions include providing special training attention towards developing cordial and friendlier relations, incentivizing business transactions, launching accumulated point programs, taking and incorporating feedback from customers, extending boundaries of self-service facilities, diverting investments to adoption of fin-tech technology, mitigating high digital transaction failure rate, launching financial goal oriented schemes, customer awareness regarding bank services, taking strict actions on dormant accounts, speedy redressal of customer grievances, collaboration with other partners to provide one-stop solution to all financial needs, increasing brand-touch points through social media platforms, making customer entry points easier etc. to improve customer experience, psychological and financial barriers, customer satisfaction and loyalty. From the above discussion, it is concluded that customer plays a pivotal role for the survival and progression of the organizations. Relationship marketing practices and generating switching costs are the strategic weapons to satisfy the motives of the customers and retain them for the well-being of the organization. In other words, it can be said that acquiring and retaining customers have become the competitive battle among service providers as this brings numerous benefits including profitability and growth to business. So, it depends upon the service provider what they offer corresponding to what customers need. Any mismatch paves way to alternate service provider for the customers. Hence, while developing products and services, customer expectations need to be respected for the sack of mutual benefit. The study has been organized in seven broad chapters, namely, Introduction, Review of Literature, Research Methodology, Measurement Models, Results and Discussion-Part 1st, Results and Discussion Part-2nd and Conclusion and Suggestions.

How does command-and-control environmental regulation impact firm value? A study based on ESG perspective

Article

Full-text available

Jan 2024
Environ Dev Sustain

The question of whether businesses can balance their "pursuit of profit" with their "benefit to society" is still up for dispute. This study examines, employing China's "Central Ecological Environment Protection Inspectorate" policy as a quasi-natural experiment, the little studied but significant relationship between command-and-control environmental regulation and firm value. According to the study, environmental regulations have a long-lasting and gradual positive impact on company value, particularly for businesses that pollute excessively. This is primarily because environmental rules enhance a company's performance in terms of environmental, social, and governance aspects; additionally, the benefits are amplified by internal controls and analyst attention. Subsequent investigation revealed that command and control environmental regulations boost a company's worth when it is situated in a location with better government relations, less dependency on natural resources, and stronger enforcement. The analysis concludes that there is no conflict between the "pursuit of profit" and the "benefit to society" under command-and-control environmental management. Therefore, governments should advise and support businesses in the areas of the environment, society, and governance; enhance the quality of information disclosed; create differentiated enforcement standards to ensure equity in the costs of environmental regulatory compliance for businesses; and create more inclusive and flexible environmental regulatory policies to enhance the business environment for businesses.

Research on Customer Relationship, Market Level and Enterprise Innovation Relationship

Article

Full-text available

Dec 2023

Xiaohan Shi

Enterprise innovation is an important content of enterprise management and a key element to determine the direction, scale and speed of the development of the company. Enterprise innovation has always been the focus of academic attention. Customer relationship is the contractual relationship established between the enterprise and the customer when purchasing and selling transactions. The research found that customer relationship can affect the innovation investment of enterprises to some extent. Based on a sample of listed companies in China's A stock manufacturing industry from 2008 to 2018, this paper empirically examines the impact of concentration of customer relationship on innovation output and its mechanism. The research found that the higher the concentration of customer relationship, the lower the innovation investment. Further research found that the level of marketization can alleviate this inhibition, with the promotion of market-oriented level, the excessive concentration of customer relations on enterprise innovation inhibition can be weakened. This research explores the factors that affect enterprise innovation from different angles, enriches the research on enterprise innovation, and provides a reference for enterprises to improve their innovation level.

Perception of Relationship Marketing in Commercial Bank: Empirical Evidence from Kathmandu Valley

Article

Full-text available

Apr 2023

Network based relationship marketing in commercial bank continues to be crucial, where success or failure is directly related to staff. Only when quality of relationship is stable and engaged, customer satisfaction and customer engagement will be connected with discovering new solutions for existing and future markets to sell the banking product. Therefore, this study tries to understand perception of relationship marketing in commercial bank of Kathmandu Valley. The explanatory research design was used with the essence of network-based theory. The data was evaluated quantitatively by using descriptive and inferential analysis by using structured questionnaire method using KOBO toolbox. SEM was applied to analyze the relationship from sample of 204 responses in Kathmandu Valley. Findings reveal that banks are aware about the relationship marketing practices and depict that there is significant relationship between bonding, trust and communication to customer satisfaction. Therefore, banking workers feel that trust, bonding, communication, shared values and empathy are critical factors in relationship marketing.

THE IMPACT OF MARKET ORIENTATION, RELATIONSHIP MARKETING AND ISLAMIC BUSINESS ETHICS TO THE BUSINESS PERFORMANCE: THE STUDY OF ISLAMIC BANKING IN INDONESIA

Thesis

Full-text available

Apr 2023

Gusti Oka Widana

The concepts of market orientation and relationship marketing have been the center of discussion in marketing science for decades. Both are actually rooted from the same concept, i.e. marketing concept. These two concepts are separated in their developments, yet these two concepts have the same focal point in customer orientation. Market orientation will encourage a company to create competitive advantage through more understanding and responding to the market and the competition. Five perspectives has been emerged in the literatures regarding market orientation whereby actually have made companies confused what is the most suitable method to be implemented by the respective company. However, market orientation is considered as a generic recipe of the company practices. While relationship marketing will establish, maintain, and enhance relationships between a company and its customers that will create benefit for all parties in the long run. Six schools of thought occur in the literatures about relationship marketing, which all schools underline the importance of maintain and enhance the relationship with customers to generate benefit for the companies and its customers. Relationship marketing is important in banking to secure the market position as their product are virtually identical with the competitors. In a competition, market orientation is a defensive strategy and relationship marketing is an offensive strategy, so both concepts are required in tandem for a company. Furthermore, in Islamic banking the implementation of business ethics is also crucial, particularly since it is the requirement of the Islamic law. The importance to ethical conducts in the literatures is recognized as to gain higher and sustainable profit and to reduce negative consequences of business conduct to the company. In addition, there is a global preference of customers for banks with higher ethical conducts. Despite the importance of market orientation and relationship, there is a lack of study of assessment regarding the inter-connection between market orientation and relationship marketing, particularly in the context of Islamic banking. Neither the interaction between business ethics, market orientation and relationship marketing has not emerged. Filling the above-mentioned gap, this study offers an own conceptualization of measurement of market orientation, relationship marketing and business ethics for Islamic banks. The proposed conceptual model illustrates the inter-relationship among these three constructs in influencing the positive business performance of Indonesia Islamic banks. This model are represented by ten hypotheses. This study uses 34 Head Offices of Indonesia Islamic banks as its sampling frame. The total samples which respond to the distributed questionnaires are 22 consists of 184 respondents. In this regards, this study uses PLS as test the model and hypotheses. The study confirms that market orientation is having positive and significant impact on the business performance. Although this study finds that relationship marketing is not effective in generating business performance, but it should not decrease the importance of relationship marketing implementation for Indonesia Islamic banks. Besides, good market orientation will bring good relationship marketing implementation as well. This study does not find the meaningful influence of Islamic business ethics to business performance. However, the good level of Islamic business ethics will encourage the good level of market orientation and better relationship marketing implementation. In addition, this study persists the significance of Islamic business ethics as the distinctive factor between the Islamic bank and conventional banks. At the end of the dissertation, this study recommends the importance of the decision of management about market orientation and put relationship marketing and business ethics as long-term investment horizon. The limitations of the study and possible future studies are described at the end of this dissertation. In addition four limitations and, therefore, future research direction are described as well.

The Influence Of Insurance Service Reputation, Customer Relationship Management, And Price Attractiveness On Insurance Service Customer Customer Experience: A Literature Review

Article

Full-text available

Feb 2023

In the service industry, a positive company reputation will influence customers' decisions to choose that business for their insurance needs. This reputation is systematically built by upholding the importance of responsibility and engaging in open dialogue with clients to foster a sense of client loyalty to insurance services. Customer loyalty is significantly influenced by customer relationship management. The most crucial thing for management to do is to uphold trust and service standards so that clients are satisfied with the products and services the business offers. Price is not only significant to customer service but also a key indicator of service quality. Client experience can influence a customer's trust in a company. The purpose of this literature review is to provide an overview of previous research on the impact of insurance service reputation, customer relationship management, and price attractiveness on insurance service customers' experiences. The method used is a literature review, which is a study that collects, comprehends, analyzes, and then concludes national and international journals. The findings of this literature review show that there is a relationship between customer loyalty and customer experience and the reputation of insurance services. Additionally, there is a relationship between customer relationship management and price attractiveness on customer loyalty and customer experience.

How Does Anxiety Affect the Relationship between the Customer and the Omnichannel Systems?

Article

Full-text available

Jan 2023

Omnichannel is not just a marketing, e-commerce, or customer support buzzword. This future customer engagement platform helps businesses communicate with customers through centralized channels on a smart interface. It is difficult to achieve customer loyalty when the risk in online transactions, which creates anxiety, exists in all transaction processes in an omnichannel system. Hence, the purpose of this research was to analyze the influence of anxiety on relationships when clients purchase from an omnichannel platform using the stimulus-organism-response (SOR) paradigm. To fulfill study aims, qualitative and quantitative research approaches were used. In-depth interviews and focus group discussions were used to acquire qualitative data, while survey responses from 485 participants were used to collect quantitative data. This study's results revealed relationships between consumer psychology factors such as perceived mental benefits, hedonic value, and anxiety. Moreover, customer anxiety in omnichannel can be measured as a novel and exact concept in marketing science and have a moderating role in the effect of perceived mental benefits on electronic loyalty and perceived mental benefits on hedonic value in omnichannel systems. As a result, enterprises were also offered various managerial implications to develop their omnichannel system.

The relationship between corporate identity-management constructs and relationship-management constructs: a case study of the North-West University

Article

Full-text available

Oct 2022

This article investigates the relationship between corporate identity-management constructs andthe quality of employer-employee relationships at the North-West University. Internal stakeholderssuch as employees are not so much concerned about how the organisation is visually representedas about the behavioural aspects of the organisation.Companies are continually finding themselves in positions where they are encouraged to managetheir corporate identities with a view to managing their reputations so as ultimately to strengthenand maintain good relationships with their stakeholders. The realisation that employees formpart of the external corporate identity of a company has shifted the focus of corporate identitymanagement inwards towards employees as an internal stakeholder group. Although it isassumed that good corporate identity management leads to good relationships, little researchhas been done on the direct link between the two concepts. Research in this regard has found arelationship between employees’ perceptions of how effectively the company upholds its values(as part of the non-visual corporate identity) and the quality of its employee relationships.

Reciprocity vs. Commitment in Bank Marketing Strategies

Article

Full-text available

Jun 2022

The purpose of this paper is to evaluate how bank marketing should respond to the banker’s paradox. Customers who need money the most are at risk for credit and thus unable to obtain a loan, according to the banker’s paradox. This relates to the fact that the client-bank relationship is based on reciprocity rather than commitment. We hypothesize that a bank marketing strategy that masquerades as a commitment will be more successful because clients have evolved to understand the superiority of commitment and be receptive to its cues. We put this marketing strategy to the test by sending 413 participants advertising slogans based on two types of cooperation: reciprocity and commitment. Our findings indicate that people do prefer bank slogans that imply a commitment-based relationship. The work’s novelty comes from its contribution to the literature of an evolutionary psychology perspective, which shows that commitment is a critical component of a successful bank marketing strategy.

Antecedents for Creating Loyal Relationship with Retailers: A Study on the Pharmaceutical Industry of Bangladesh

Article

Full-text available

Aug 2021

Md. Abdullah Al Jamil

Purpose: The study looked at a variety of factors that go into building a loyal relationship between a company and its retailers in Bangladesh's pharmaceutical industry. Research methodology: Ten (10) hypotheses were established based on the literature review. Furthermore, the convenience sampling technique was used to choose the samples. Data were collected from 50 different retailers. In addition, the loyalty-building aspects were assessed using the questionnaire established through an exploratory study. The data were analyzed with SPSS 22.0with the aid of Microsoft excel. Results: Nine out of ten variables were favorably connected with creating a loyal relationship with pharmaceutical retailers, according to the findings of the study. Limitations: This study focused only on Dhaka and Cumilla cities of Bangladesh. Contribution: The conclusion of the study is crucial and the outcome will have a long-term impact on how pharmaceutical companies use various types of tactics in loyalty-building programs with retailers. Keywords: 1. Pharmaceuticals industry 2. retailer 3. loyalty programs 4. promotional strategies

Customer relationship management and its impact on entrepreneurial marketing: a literature review

Article

Full-text available

Jun 2022
Int Enterpren Manag J

Entrepreneurship is one of the business forces with the greatest power to transform today's society, due to its ability to discover and take advantage of new opportunities to satisfy customer new and changing needs and expectations. Customer relationship management (CRM) has proved to be both a highly influential business management strategy and a powerful business management technology solution, with a particularly relevant impact in the area of entrepreneurship. CRM has helped drive growth and future expectations and has had excellent results in terms of return on investment wherever it has been implemented. An exhaustive review of previously published findings in a specific subject area can uncover new lines of research. This paper uses semi-systematic review to the study of the reality of the link between CRM and entrepreneurial marketing in business. This approach is used to comprehensively describe the state of the art of the impact that CRM can have in the modern business environment, through the empowerment of entrepreneurial marketing. In a structured manner, the present paper reviews the 86 most relevant studies of how CRM affects entrepreneurial marketing policy development through its alignment with relationship marketing and customer-centric business models. The growing use of CRM in companies is one of the pillars of technological and social change in entrepreneurship, being a clear example of how big data can benefit society. The study focuses on the period from 2015 to 2019.

How Does Long-Term Orientation Influence the Investments of Venture Capitals? Evidence From the Organizational Level

Article

Full-text available

Feb 2022

Tianyi Zheng

Amid great uncertainty along with the possibility of huge returns, venture investment decisions are both technical and artistic. Past studies have paid much attention to the influences of objective factors on venture investment. However, subjective factors have been relatively ignored. As a salient psychological mechanism, temporal focus is of great importance for venture capitalists when making their investment decisions. This study performed content analysis to investigate how temporal focus at the organizational level affects investment decisions of venture capital (VC) firms. The results revealed that VCs with higher level of long-term orientation prefer to invest in less popular industries and ventures in the expansion period. Meanwhile, they are less likely to invest in very new start-ups. Moreover, long-term oriented VCs tend to re-invest in start-ups in their portfolios instead of just shooting once on numerous single start-ups. However, the author did not find any support on preferences of VCs for ventures with high level of human capital.

The determinants of bank selection criteria of SMEs: a fuzzy analytic hierarchy approach

Article

Dec 2021
JSTPM

Purpose Small and medium enterprises (SMEs) have been reported as a credit-constrained sector in the earlier literature. Amidst the available external financing options, SMEs are dependent upon banks for their financial needs, hence they offer an important profitable segment for banks. Commercial banks need to develop effective targeting strategies for this segment and ranking the priorities of SMEs in selecting commercial banks will be of great help to them. The purpose of this paper is to implement a fuzzy analytic hierarchy process (FAHP) multi-criteria decision model for commercial bank’s selection by SMEs. Design/methodology/approach The research process was carried out in two phases. In Phase I, a self-structured scale was developed to measure bank selection criteria of SMEs after an extensive review of the literature of relevant studies on the topic. A sample of 600 SMEs was selected through non-proportionate quota sampling and only 313 valid responses were received. Phase II was conducted to prioritize the extracted factors through FAHP, a multi-criteria decision-making technique. For this purpose, another questionnaire was designed in the form of pair-wise evaluation and the response was taken on the same from those 313 SMEs again. Findings The results showed that SMEs bank selection criteria can be categorized under six heads, namely, bank attributes, accommodation of credit needs (AC), bank personnel, financial factors (FF), service quality (SQ) and business knowledge. The research study produced a reliable and valid instrument for studying the bank selection criteria of SMEs. The results further revealed that AC is the most important factor considered by SMEs followed by FF and SQ. Going further, global weights were also calculated through the FAHP which revealed that the most important consideration (variable) viewed upon by SMEs is willingness to accommodate credit needs followed by flexible collateral requirements and absence of hidden charges. Research limitations/implications The results of the present study offer significant insights as to the factors SMEs consider while making a bank selection decision. It is of utmost importance for banks to identify true determinant factors used by SMEs while making bank choice decisions as they offer ample profit and revenue opportunities to banks. The results of the study provide a practical approach to banks that would help them in framing strategies for SMEs customers. Originality/value This is the first study of its kind which has not only focused on the hierarchy of factors measuring bank selection criteria of SMEs rather on the hierarchy of single variables also through the calculation of global weights. As banks cannot focus on all the dimensions of the criteria, they can focus on the spirit of that particular criteria.

Marketing kao čimbenik konkurentnosti hrvatskoga bankarskog sektora

Article

Full-text available

Dec 2021

Bankarski sustav većinski je dio financijskoga sustava države te svojim kreditnim i investicijskim aktivnostima omogućuje njezin rast i razvoj. Jačanjem konkurencije, ponuda financijskih usluga banaka sve je bogatija i raznolikija. U radu se analizira bankarski sustav Republike Hrvatske s ciljem utvrđivanja čimbenika koji mogu pridonijeti konkurentskoj prednosti banaka. U svrhu donošenja upravljačkih odluka u vezi konkurentskoga ponašanja banaka analizirani su temeljni elementi bankarske industrije: broj bankarskih poduzeća, njihova veličina, koncentracija bankarske industrije, tržišni uvjeti, barijere ulasku na bankarsko tržište, ulaganje u infrastrukturu te regulacija tržišnoga natjecanja bankarske industrije. Bankarsko tržište u Republici Hrvatskoj srednje je koncentrirano te postoje značajne barijere ulasku u smislu kapitalnih zahtjeva, ali i regulacije poslovanja. No, unatoč relativno visokoj koncentraciji, implicitni dogovori o određivanju cijene kapitala, odnosno kamatnih marži, na temelju uzajamnoga praćenja ponašanja nisu mogući zbog velikoga broja supstituta drugih financijskih institucija. Tako se u bankarskom sektoru Nashova ravnoteža postiže određivanjem niskih kamatnih marži. Stoga se marketing, u smislu marketinga usluga, može identificirati kao važan čimbenik bankarskoga ponašanja koji može unaprijediti konkurentski položaj banaka.

Antecedents and Consequences of Trust and Loyalty in Physical Banks Affecting Mobile Payments

Article

Full-text available

Nov 2021

The way of payment has changed in recent years: people have turned away from physical payment methods to virtual payment methods. The traditional banking industry is facing challenges brought by new technologies. The main purpose of this study is to investigate customer trust and loyalty transferring from physical banks to mobile payments because mobile payment platforms are a self-service technology. The goal is to create an eco-platform to facilitate transition from a cash-based economy to a cashless economy. This study is the first attempt to integrate platform management, electronic marketing (online trust and online loyalty), and relationship marketing (offline trust and offline loyalty) into one model. We theoretically and empirically take certain factors into consideration to further explore the transfer impact of physical to mobile payments, which is not discussed in literature. The SEM (structural equation modelling) analysis from the 353 respondents in this study found that trust from both the physical and mobile contexts has positively influenced loyalty. Additionally, customers’ trust and loyalty transfer from the physical to the mobile environment has had a significantly positive effect between the physical and mobile environment. Corporate reputation and structure assurance have also significantly positively affected physical trust and mobile trust, respectively. The findings also reveal that the structure assurance plays an essential role in mobile payment. Users may have certain concerns about the procedure of transactions and their personal information. Theoretical and practical implications are provided.

Electronic banking adoption in Ethiopia: an empirical investigation

Article

Full-text available

Aug 2021

Pankaj Tiwari

The bank has always been a very intense business, especially in the last few decades when information technology had a strong influence on the banking sector. This research followed almost the same pattern, particularly by examining the factors influencing information technology adoption. However, little work has been done to identify these factors in electronic banking services in developing African Countries. The purpose of this research was to analyze the variables that influence adoption in Commercial Bank of Ethiopia. The researcher has used factors perceived ease of use, infrastructure, security, trust, and e-banking adoption. The data were collected from 179 respondents of CBE. This study uses the structural equation model based on least partial square analysis. The results show that customer trust mediates between the perceived ease of use, infrastructure, security, and e-banking adoption. The practical result of this research is the provision of information and knowledge to the Ethiopian Commercial Bank, which is the financial backbone of this country. Further, combining Trust in technology will improve confidence in Ethiopian banking sector. Hence, the government should make more efforts to sustain and improve e-banking through technology-driven innovation in the banking sector.

The mindmapping for marketing strategy: Case study of fashion industry

Article

Full-text available

Jul 2021

The research objective is to build a marketing strategy based on mind mapping carried out in the fashion industry. The research was conducted by using the action research method on incubator business in University with the fashion business that has been start, while the qualitative analysis was based on a survey on mind mapping. The results of the study show that mind mapping can be a source of ideas for the formation of marketing strategies in the fashion industry, namely segmenting, targeting and positioning. The source of ideas in mind mapping makes it easier for entrepreneurs to create a value proposition canvas for the sustainability of the products created by the company. The research findings are especially useful in the fashion industry, where they serve as suggestions for implementing mind mapping for new or on-going companies with the goal of improving the company’s product.

The mediating role of price sensitivity in the effect of trust and loyalty to luxury brands on the brand preference

Article

Full-text available

Jan 2021

In the age of consumption, customers prefer high-quality and exclusively designed luxury brands. This trend is based on a variety of reasons, such as the manifestation of status and wealth, as well as positive emotions and symbolic power created by these brands. The study aims to examine the variables of trust and loyalty to luxury brands, brand preference and price sensitivity, and to determine whether there is a meaningful relationship between these variables. If there is, to investigate the mediating role of price sensitivity in the effect of consumer trust and loyalty to luxury brands on brand preference. The methodological framework of the research includes planned behaviour theory to predict customers’ intentions and behaviours towards luxury brands. The information base of the research includes data from the online survey of 563 respondents from Turkey. Among the main research methods applied in the study are descriptive statistics and correlation analysis. SPSS 22.0 and AMOS software, as well as the principles of structural equation modeling are used to analyze the data. In the research, we could not determine the mediating role of price sensitivity in the effect of brand trust and loyalty on brand preference. A statistically significant, positive, and healthy relationship exists between brand trust and brand loyalty and brand preference. The study shows that the effect of price sensitivity and brand trust on brand preference is weak. The theoretical and practical importance of the study is to support companies in developing successful luxury branding strategies and to contribute to the luxury brand literature.

Effects of Personality Traits on Member Loyalty to Online Communities: Investigation from the Views of Relationship Proneness, Relational Benefits, and Relationship Quality

Article

Jan 2016

Ying-Wei Shih

Exploring the Relationship between Knowledge Management and Customer Relationship Management in the Commercial Banks of Bangladesh

Article

Full-text available

Oct 2020

Customers have been recognized as the most important assets of any organizations so that acquiring customer knowledge embraces Customer Relationship Management (CRM). CRM focuses on maintains long term relationship between current and prospective customers whereas Knowledge Management (KM) considers knowledge as a key success factor for the organization. The objective of this research was to explore the relationship between KM and CRM in the commercial banks of Bangladesh. A well written questionnaire of Likert type from 260 bank employees was collected to find out the relationships. Descriptive statistics and inferential statistics were conducted in order to examine the hypotheses and find out the level of relationship between CRM and KM. Result confirms that knowledge infrastructure capabilities positively affects knowledge process capability. The finding also shows that knowledge process capability positively affects CRM. The future direction of this research would be to increase profitability, customer satisfaction and maintain long term relationship with customers through the proper implementation of CRM and KM.

Studying the Mediator Role of Customer Commitment in the Relationship between Brand Benefits and Customer Loyalty

Article

Full-text available

Jun 2019

Ali Gholipour Soleimani

The purpose is to investigate the mediator role of customer commitment in the relationship between brand benefits and customer loyalty. A sample of 384 participants was selected by staged cluster sampling method of actual customers of Parsian Bank in Tehran. For data collection, a questionnaire with a Likert scale, and, to test the research hypotheses, structural equation modeling and PLS software were used. Parsian Bank brand benefits directly and indirectly affect the level of customer loyalty. The indirect impact of brand benefits through the mediation role of commitment to the brand is greater on customer loyalty. Two moderator variables, the type of brand and brand extension, do not affect the relationship between brand benefits and customer commitment.

Relationship marketing dimensions predicting customer loyalty towards independent financial advisers

Article

Full-text available

Jan 2015

Social Media, Relationship Marketing and Corporate ESG Performance

Article

Mar 2024
Finance Res Lett

INTEREST OF MICRO, SMALL AND MEDIUM ENTERPRISES (MSMES) IN CHOOSING BANKING FINANCING AND ITS IMPACT ON BUSINESS PERFORMANCE

Article

Jul 2022

This research aims to elaborate on the factors that make MSMEs choose an interest in choosing Islamic or conventional banking financing and measure how much interest MSMEs have in banking financing and then the good impact on the performance of MSMEs in the future after receiving financing from both Islamic and conventional banks. Finally, it is so that the difference between Islamic and conventional banking can be known in providing financing to MSMEs in Cirebon. The method used in this study is quantitative with primary data directly from MSMEs using questionnaire instruments distributed to 294 MSMEs in Cirebon consisting of types of industry, services and trade. Of the total samples taken, it was then divided into 2 (two) categories, namely Islamic and conventional banking, each of which was 50%. The analyst technique uses a differential test of 2 samples by going through a number of statistical tests. The results showed that the contribution of Micro, Small and Medium Enterprises (MSMEs) had a significant effect on increasing the amount of Indonesia's Gross Domestic Product (GDP), but MSMEs still left many problems to be able to grow better, one of which was due to financing (capital).

Trust in the Financial Services Context: A Meta-Analysis

Article

Aug 2023
Int J Bank Market

Purpose This article presents a systematic framework with a meta-analytic approach to finding various antecedents, consequents and moderating effects of trust in financial services. Design/methodology/approach A meta-analysis of 165 articles was performed, which generated 272 observations in a cumulative sample of 86,968 respondents. Findings The results of this meta-analysis demonstrated seventeen antecedents of trust constructs and four consequents. Most of these relationships were meaningful and consistent. The authors also found some significant moderators related to culture (individualism, masculinity and long-term orientation) and context (innovation index and device type). Research limitations/implications This meta-analysis reviewed the relationships found throughout the theoretical framework about the trust construct in financial service contexts, identifying new paths for future research. Some limitations, such as the non-use of qualitative studies and the selection of concepts, exist in the secondary data and should be noted. Practical implications The present study can assist financial system managers in decision-making because the findings from the meta-analysis are more consistent than those from traditional primary surveys. Originality/value This research tested the impact of antecedents, consequents and moderators of trust in the financial services sector and presented significant results using a meta-analytic review. This meta-analysis contributes to the marketing literature by offering a set of empirical generalizations, including relationship coefficients and fail-safe calculated numbers (FSN).

بحث جوده علاقات العملاء والكلمة المنطوقة

Article

Apr 2023

احمد سليمان السعيد سليمان

A Bibliometric Review of Research on Customer Commitment

Article

Apr 2023

Chaichana Ampornklinkaew

Customer commitment has been studied for more than two decades. It is one of the most powerful marketing tools in maintaining steady affiliation between patrons and brands or service providers. To examine its knowledge corpus, a bibliometric review was performed to scrutinize 457 Scopus-indexed documents. The research design consisted of descriptive analysis, citation analyses, co-citation analyses, and keyword co-occurrence analysis. This review aimed to assess the literature volume, growth trajectory, and geographic distribution; indicate key journals, authors and documents; probe the intellectual structure of the knowledge base; and emphasize the topical foci of the literature. This review provides a baseline analysis for the evolution and future studies guiding scholars who will enter the customer-commitment research field.

Innovation and performance in social economy enterprises: The mediating effect of legitimacy for customers

Article

Mar 2023
J BUS RES

FACTORS AFFECTING THE QUALITY OF ONLINE RELATIONSHIPS AND ITS CONSEQUENCES ON SHOPEE AND LAZADA E-MARKETPLACE CUSTOMERS INFO ARTIKEL ABSTRAK/ABSTRACT

Article

Full-text available

Oct 2022

The purpose of this study is to test a model to predict antecedents and consequences of relationship quality in online purchases. Novelty: The importance of this research for the online community is to provide a series of the quality of online relationships factors and the consequences for the quality of online relationships so that e-marketplaces can choose suitable guidelines to maintain their relationships with online customers and ultimately gain customer participation in creating value and strengthen competitive status. Research Methods: This research used explanatory survey method. The hypothesis was tested using the Partial Significance Test. Finding/Results: The results showed that the online system quality and social ties have a positive effect on the online relationships quality. While the results of the research variables of online service quality, online information quality, financial influence, structural ties and vendor reputation have no influence on the online relationships quality. The results also show that the online relationships quality has a positive effect on electronic word of mouth, online customer loyalty, and online customer reviews. Limitations / implications in this research, the online relationships quality is considered a construct that includes trust, commitment and satisfaction with the relationship. However, to achieve more accurate results, further researchers can investigate the separate impact of each dimension of relationship quality (commitment, trust, and satisfaction).

Proceeding cretech inter 2021

Conference Paper

Full-text available

Aug 2021

Naruemon Mongkontanawat

The objectives of the study of the cultivation time for β-glucan production of S. commune Fr, in Mycelial stage and in Fruiting Body (FB) stage, were to investigate the ability to produce β-glucan, and to analyze the antioxidant activity. The crude exo-polysaccharide (EPS), total sugar, the proximate composition, glucan, chemical structure, and the antioxidant activity of S. commune Fr were evaluated. The result was found that the mycelial 3 d dried powder of S. commune Fr had EPS (90.02 %w/w), α-glucan content (7.58 %w/w), protein content (3.61 %), carbohydrate content (88.56 %), and percentage of inhibit DDPH (90.02 %) more than that other samples significantly (p < 0.05). The FB 1 d dried powder of S. commune Fr had total glucan content (49.76 %w/w) and β-glucan content (49.20 %w/w) more than other samples significantly (p < 0.05). In addition, it was found that the dried powder from FB contained twice the amount of glucan than the dried powder from mycelial, and the dried powder from FB stages and from mycelial stages being highly showed in antioxidant value (% DPPH, and % ABTS). The 1 d dried powder from S. commune Fr FB was the optimum age for β-glucan production

Increasing Patron’s Outreach and Engagement through Relationship Marketing: A Case Study

Article

Mar 2022

Margaret Adeogun

Increased diversity, demographics, and population shifts in higher education have led many academic libraries to reexamine their marketing efforts and adopt strategies that promote relationships and inclusivity. This requirement has become more prominent among libraries serving a highly diverse user community, particularly in a more racially and ethnically diverse campus. Adopting a marketing model that cultivates more meaningful long-term relationships with customers ensures long-term satisfaction and loyalty to the library brand. Using marketing and promotional examples from the James White Library, this article addresses the academic library’s relationship marketing strategy in an increasingly multicultural higher education environment.

The Role of Organisational Culture Traits on Corporate Image in Service Industry

Article

Full-text available

Dec 2021

Serap Sarp

Organisational culture is a key aspect of functioning that impacts the company performance and effectiveness. It is formed by the shared values, beliefs, assumptions, attitudes, and behaviour of the employees that help the organisation to have a competitive advantage in the market. Scholar predominantly researches organisational culture from the managerial perspective that aims to understand the relation between the performance of the organisations including ROA, ROI, sales growth, and market share. However, organisational culture shapes the external perception of the organisation. Mainly, a shared organisational culture is reflected on the customers by frontline employees in service sector organisation. This makes organisational culture is a key factor that shapes the customers' perception affecting customer satisfaction and loyalty. Therefore, this research aims to conceptualize the organisational culture and its traits and explore their effect on the corporate image in the service sector context where human interaction is important. This study aims to extend the literature on organisational culture and corporate image with a new conceptual model. However, the limitation of the study is the lack of empirical research in testing the proposed relationships. Future studies may provide contribution to extend the current study with empirical data and model validation.

Factors Affecting Customers Retention in Mobile Phone Services. (2013, Pajouheshgar: Journal of Management, 10(29): 61-78)

Article

Full-text available

May 2013

Customer retention is the ability of a company to retain its customers. While customer relationships typically begin with an initial interaction, the customer retention index is related to the customer's first purchase and includes all subsequent interactions. High customer retention index indicates customer willingness to continue buying, customer loyalty or to reduction in customer defections. It is well known that there exists a link between mobile phones penetration and economic growth. For this reason, investigating factors affecting mobile phones is of great importance. The objective of this research is to investigate some factors including customer switching costs, services quality, customer value, and customer satisfaction, affecting the customer retention. This research aims also to identify the intermediate role of customer satisfaction in the relationship between each of customer switching costs, services quality or customer value, and customer retention. The research random sample contained 384 students of Shahid Chamran University of Ahvaz, Iran. Data were collected using a structured questionnaire that was validated by Cronbach's alpha coefficient. The collected data were analyzed using Structural Equations Model (SEM). Analysis of Moment Structures (AMOS) was used to test both the measurement and the structural models related to the research hypotheses. The results of the research indicated that the model proposed is the best of the set of possible models. It turned out that the intermediary role of customer satisfaction is very important. The customer value and consumer satisfaction have significant positive effect on the customers retention, while service quality and customer switching costs have no significant effect upon customer retention.

MARKA SADAKATİ OLUŞUMUNDA İLİŞKİSEL PAZARLAMA UYGULAMALARININ YERİ: GSM OPERATÖRLERİ ÜZERİNE BİR ÇALIŞMA

Article

Full-text available

Dec 2020

Tuğba Yeğin

Nowadays in all sectors "The only thing that does not change is the change itself." thought is dominant. And with this idea, the ever-changing competitive environment has become more customer-oriented than pro-duct-oriented. In this context, enterprises develop strategies. Relational marketing, one of the new para-digms, is based on the strategy of establishing and maintaining long-term relationships with the client. There are two issues to be emphasized by the managers of GSM operators who use relational marketing applicati-ons (gifts, discount applications, points, cards, etc.) to make their businesses efficient, productive and profi-table when using these applications. These; to create customer and brand loyalty. Brand loyalty; A brand that has gained the loyalty of consumers has realized all of these, as it is a very broad concept that covers brand awareness, brand recognition and brand awareness processes. The return of this situation to the customers while providing a long-term opportunity to reach, more and more consumers are able to reach at a low cost. In this context, because we believe that relational marketing practices have an impact on brand dependence and that GSM operators that appeal to all consumers from small to large are in an effort to create brand de-pendence; In this study, the effect of relational marketing practices in brand loyalty was analyzed by applying face-to-face questionnaire to 280 consumers in Karabük province and the data were analyzed with SPSS 18.0 program and the results were interpreted in the light of established hypotheses.

The Production and Reproduction of Trust Violations

Chapter

Mar 2018

Robert F. Hurley

CUSTOMER RELATIONSHIP MARKETING AND ITS INFLUENCE ON CUSTOMER RETENTION A Case of Commercial Banking Industry in Tanzania CHACHA MAGASI A Dissertation Submitted in Partial Fulfilment of the Requirements for the

Thesis

Full-text available

Nov 2007

Chacha Magasi

The purpose of this research was to investigate the extent to which customer relationship marketing influences customer retention with commercial banks in Tanzania. It assessed how the antecedents of relationship marketing notably customers’ trust, commitment, satisfaction and relationship influence customers’ retention either directly or indirectly with their commercial banks. The research aimed at contributing to theoretical knowledge and at the same time guide marketing practitioners with the strategies, tactics and programs to use in order to retain their customers. The research methodology consisted of questionnaire survey to actual customers of 22 commercial banks in Tanzania. The Chi-square method and multiple regression models were used in the analysis of data. The former was used to judge the variation of observed variables in explaining the latent variable while the latter giving the conclusion for the stated hypotheses. The results suggest that there is a positive relationship between customers’ trust and satisfaction on their commitment to commercial banks in Tanzania. Also, there is a positive relationship between customers’ commitment and their relationship with commercial banks in Tanzania. However, there is no positive relationship between customers’ satisfaction and their retention. Lastly, there is a positive relationship between customers’ relationship and their retention with commercial banks in Tanzania. This research based on external customers i.e. customers who are not employees in those banks. The role of other researchers and other business firms is to further investigate on the influence of internal customers (employees) and potential customers on their retention with commercial banks in Tanzania.

Technology, Trust and B2B Relationships

Chapter

Jan 2011

Technology has altered business processes, and the use of self-service technologies changes the nature of service delivery. The importance of developing and fostering relationships with customers has long been regarded as important within services marketing (Berry, 1983) and also within B2B relationships (Ford, 1990). In the 1980s and 90s, a shift in marketing focus has seen an increased emphasis on relationship marketing (Morgan and Hunt, 1994). This chapter reviews the results and implications of recent exploratory research conducted with a small sample of Australian business bank customers (n=20). This research makes a contribution toward answering the research question “what impact does the use of self service technologies have on relationships within a business-to-business context?” Utilising a banking context, this research explores how the use of Internet banking impacts on relationships between the bank and its business customer. In exploring this research area, a greater understanding of banking relationships and business banking customers has been identified.

Determinants and Antecedents of Relationship Marketing Orientation

Chapter

Jan 2012

This study investigates the extent of Relationship Marketing Orientation (RMO) in the banking sector of Egypt. The need to deliver a superior value to bank customers has assumed paramount importance as competition intensifies at a fast pace and local consumers become more demanding. This study attempts to answer whether the bank’s ownership style will influence the extent of the bank’s relationship marketing orientation. This empirical study of 32 Egyptian banks is based on the antecedents and determinants of RMO elected from the literature. Findings suggest that different ownership of a bank may exert a different emphasis on RMO. The study reports that RMO is determined by ten antecedents of relationship marketing.

Economic and Non-economic Satisfaction as Outcomes of Micro-enterprises’ Perceived Value from Banking Relationships

Article

Jul 2020

Purpose The purpose of this paper is to position economic and non-economic satisfaction as outcomes of micro-enterprises’ perception of value, and to determine the antecedents of perceived value within the business banking industry. Methodology/Approach The study is based on a self-administered and internet-based questionnaire conducted in the South African business banking industry. The sample consists of 381 micro-enterprises that employ one or two staff members. Findings The results reveal that economic satisfaction and non-economic satisfaction are influenced by customers’ perceived value, and that price fairness influences perceived value through the mediating effects of perceived price and service quality. Significant relationships were also found between perceived price and economic satisfaction, and between economic satisfaction and non-economic satisfaction. Research Implications Drawing on social exchange theory, this research adds to the existing literature by exploring price fairness in business customers’ perception of value, and their subsequent satisfaction judgments – specifically economic and non-economic satisfaction. Managerial Implications The study offers banking executives insight into factors that influence micro-enterprises’ perception of value, and the consequences of higher perceived value in terms of their economic and non-economic satisfaction levels. Originality/Value/Contributions Micro-enterprises are an under-researched target group in the areas of price, quality, value, and satisfaction within the business banking industry. The study further contributes to theory by being among the first to posit economic and non-economic satisfaction as dual outcomes of perceived value.

Relationship Banking: A Multinational Bank’s Application of Relationship Marketing

Article

Full-text available

We are witnessing a paradigm shift in the focus of marketing from one that has been transaction-oriented to one that builds a value-enhancing relationship with the customer. One of the earliest industries to jump onto the bandwagon of "relationship marketing" has been the banking industry. This paper investigates a multinational bank's use of relationship marketing by using McKinsey & Co.'s Seven-S framework. The study identifies internal marketing, service quality, human resource system, information technology, and the role of the account manager as key factors in implementing a relationship marketing strategy.

Innovation and Entrepreneurship

Article

Full-text available

Jan 1987

Toward A Model of Organizations As Interpretation Systems

Article

Full-text available

Apr 1984

A comparative model of organizations as interpretation systems is proposed. The model describes four interpretation modes: enacting, discovering, undirected viewing, and conditioned viewing. Each mode is determined by (1) management's beliefs about the environment and (2) organizational intrusiveness. Interpretation modes are hypothesized to be associated with organizational differences in environmental scanning, equivocality reduction, strategy, and decision making.

Keynote paper From marketing mix to relationship marketing-towards a paradigm shift in marketing

Article

Full-text available

May 1997
MANAGE DECIS

Christian Grönroos

Discusses the nature and sometimes negative consequences of the dominating marketing paradigm of today, marketing mix management, and furthermore discusses how modern research into, for example, industrial marketing and services marketing as well as customer relationship economics shows that another approach to marketing is required. This development is supported by evolving trends in business, such as strategic partnerships, alliances and networks. Suggests relationship marketing, based on relationship building and management, as one emerging new marketing paradigm of the future. Concludes that the simplicity of the marketing mix paradigm, with its Four P model, has become a strait-jacket, fostering toolbox thinking rather than an awareness that marketing is a multi-faceted social process, and notes that marketing theory and customers are the victims of today’s mainstream marketing thinking.

The Commitment-Trust Theory of Relationship Marketing

Article

Full-text available

Jul 1994
J MARKETING

Relationship marketing-establishing, developing, and maintaining successful relational exchanges-constitutes a major shift in marketing theory and practice. After conceptualizing relationship marketing and discussing its ten forms, the authors (1) theorize that successful relationship marketing requires relationship commitment and trust, (2) model relationship commitment and trust as key mediating variables, (3) test this key mediating variable model using data from automobile tire retailers, and (4) compare their model with a rival that does not allow relationship commitment and trust to function as mediating variables. Given the favorable test results for the key mediating variable model, suggestions for further explicating and testing it are offered.

A Service Quality Model and Its Marketing Implications

Article

Full-text available

Dec 1993
EUR J MARKETING

Christian Grönroos

Proposes to develop a service quality model, based on test of a sample of business executives, which describes how the quality of services is perceived by customers. Looks at its marketing implications, in which functional quality is seen to be a very important dimension of a perceived service. Concludes that quality dimensions are interrelated and that the importance of image should be recognised.

The Impact of Service Quality and Service Characteristics on Customer Retention: Small Businesses and Their Banks in the UK

Article

Full-text available

Sep 1996
BRIT J MANAGE

The recent developments in relationship marketing have increasingly focused attention on the beneficial effects of customer retention. The notion of building relationships and delivering quality service in order to encourage loyalty is perhaps of particular importance in the service sector where it is often argued that customer attraction costs are significantly higher than retention costs. Central to the idea of investment in the development of service quality and customer relationships is the belief that such investments will enhance loyalty, retention and profitability. Empirical evidence on the extent to which such links exist is still partial. This paper explores the relationship between service qualitylcustomer relationships and customer loyalty and retention using evidence from the UK banking sector and its small business customers.

Relationship Marketing in China: Guanxi, Favouritism and Adaptation

Article

Full-text available

Nov 1999

One of the hot research topics today is relationship marketing. However, little research has been carried out in understanding the complex concepts of Guanxi (relationship) in a Chinese society. This research describes a study to operate the constructs of guanxi and explores the importance of guanxi in relationship development in order to present a new Guanxi framework. A study of both Western and Chinese literature provides foundations of the Guanxi perspectives. The constructs of adaptation, trust, opportunism and favour are identified. Adaptation and trust are found to be positively correlated with sales stability and quality. Whilst, adaptation is negatively correlated with relationship termination costs. Both theoretical framework (a new perceptual map) and managerial implications are given. In addition, recommendations for future research are made.

The relationship marketing process: Communication, interaction, dialogue, value. The Journal of Business & Industrial Marketing, 19(2), 99

Article

Full-text available

Mar 2004
J BUS IND MARK

Christian Grönroos

The objective of the article is to discuss a framework of central processes in relationship marketing. The framework includes an interaction process as the core, a planned communication process as the marketing communications support through distinct communications media, and a customer value process as the outcome of relationship marketing. If the interaction and planned communication processes are successfully integrated and geared towards customers' value processes, a relationship dialogue may merge.

Relationship Marketing

Chapter

Jan 1996

Francis Arthur Buttle

Retail Banking

Chapter

Jan 1996

John A. Murphy

Corporate Banking

Chapter

Jan 1996

Charles Schell

Aftermarketing: How to Keep Customers for life Through Relationship Marketing

Book

Jan 1992

Terry G. Vavra

Aftermarketing offers a theory-based, yet pragmatic plan for building an effective customer retention program. The book unites the fields of database development, customer satisfaction research, customer service, and direct marketing. It shows how to unite these disciplines to maximize their poser in strengthening relationships with customers.

Customer-Relationship-Management

Chapter

Jan 2020

Die Wurzeln von Tchibo reichen zurück bis in die späten 1940er-Jahre, als der Hamburger Kaffeeröster nach Kriegsende begann, selbst produzierten Röstkaffee im Versandhandel zu vertreiben. Kaffee galt damals als Luxusgut, und Tchibo legte seinen Kundenpaketen mit dem bestellten Bohnenkaffee auch noch hochwertige Verpackungen bei, etwa Aromadosen. Man wollte dem wertigen Produkt so einen würdigen Rahmen geben. Heute würden diese Zugaben das Label „Kundenbindungsprogramm“ erhalten (s. Abschn. 5.2.3) – Geschenke erhalten bekanntlich die Freundschaft, und so fördern sie auch die Geschäftsbeziehungen zwischen Unternehmen und ihren Kunden.

Relationship Quality in Services Selling: An Interpersonal Influence Perspective

Article

Jul 1990
J MARKETING

Salespeople involved in the marketing of complex services often perform the role of “relationship manager.” It is, in part, the quality of the relationship between the salesperson and the customer that determines the probability of continued interchange between those parties in the future. A relationship quality model is advanced and tested that examines the nature, consequences, and antecedents of relationship quality, as perceived by the customer. The findings suggest that future sales opportunities depend mostly on relationship quality (i.e., trust and satisfaction), whereas the ability to convert those opportunities into sales hinges more on conventional source characteristics of similarity and expertise. Relational selling behaviors such as cooperative intentions, mutual disclosure, and intensive followup contact generally produce a strong buyer-seller bond.

Determinants of Long-Term Orientation in Buyer-Seller Relationships

Article

Apr 1994
J MARKETING

Shankar Ganesan

Marketing managers must know the time orientation of a customer to select and use marketing tools that correspond to the time horizons of the customer. Insufficient understanding of a customer's time orientation can lead to problems, such as attempting a relationship marketing when transaction marketing is more appropriate. The author suggests that long-term orientation in a buyer/seller relationship is a function of two main factors: mutual dependence and the extent to which they trust one another. Dependence and trust are related to environmental uncertainty, transaction-specific investments, reputation, and satisfaction in a buyer/seller relationship. The framework presented here is tested with 124 retail buyers and 52 vendors supplying to those retailers. The results indicate that trust and dependence play key roles in determining the long-term orientation of both retail buyers and their vendors. The results also indicate that both similarities and differences exist across retailers and vendors with respect to the effects of several variables on long-term orientation, dependence, and trust.

The Commitment-Trust Theory of Relationship Marketing

Article

Jul 1994
J MARKETING

Relationship marketing—establishing, developing, and maintaining successful relational exchanges—constitutes a major shift in marketing theory and practice. After conceptualizing relationship marketing and discussing its ten forms, the authors (1) theorize that successful relationship marketing requires relationship commitment and trust, (2) model relationship commitment and trust as key mediating variables, (3) test this key mediating variable model using data from automobile tire retailers, and (4) compare their model with a rival that does not allow relationship commitment and trust to function as mediating variables. Given the favorable test results for the key mediating variable model, suggestions for further explicating and testing it are offered.

Smaller Businesses and Relationship Banking: The Impact of Participative Behavior

Article

Jul 1997
ENTREP THEORY PRACT

Although the venture capital industry is undoubtedly of Importance, the majority of finance to smaller businesses continues to be provided by the banking sector. The provision of finance to these businesses is generally thought to be characterized by Information asymmetries, which are likely to lead to some form of credit rationing. To the extent that credit rationing occurs, viable enterprise may be lost. While collateral is commonly cited as a means of counteracting the information asymmetries that lead to credit rationing, an alternative mechanism is to improve the flow of information between business and bank. This is most commonly achieved through the development of a close working relationship. The success of such a relationship depends upon the willingness of both parties to involve themselves with each other and work together. This paper examines the nature of the banking relationship, paying particular attention to the idea of relationship participation and the benefits that accrue to both parties as a result of participation. Using data from over 3000 UK small firms, It is possible to identify four broad relationship types based on the degree to which the bank and the business participate in the relationship. A comparison across different relationship types suggests that there are considerable benefits associated with more participative relationships.

Managing Across Cultures

Article

Feb 2005

Jean Thilmany

This article focuses on managing motivated engineers means having to tell them it is time to stop tinkering with one design and move on to the next. Managing means knowing when to say what, as after all, the equipment will never meet the engineers’ exacting specifications. Volunteers sometimes travel to a location to figure out how a piece of equipment might be used. Oftentimes, however, the budget doesn't allow for overseas trips. Committees meet monthly, and during the interim, committee members experiment alone or in groups with parts of a project. Management is best accomplished when a project with a particular need is attached to a competent volunteer who has an interest in that need. Projects sound easy in execution: highly trained engineers and food scientists—many with an illustrious career are worth of experience to contribute—volunteer to design fairly straightforward tools. But sometimes the simplest tools are the most difficult to design.

Strategic Management: An Integrated Approach

Book

Jan 2016

The authors do not have rights to distribute the full-text online so only the table of contents and front matter are provided here. If you are an instructor seeking a review copy or teaching supplements, please use this link to locate your Cengage representative: http://www.cengage.com/repfinder/ Brief Contents PART ONE INTRODUCTION TO STRATEGIC MANAGEMENT 1 Strategic Leadership: Managing the Strategy-Making Process for Competitive Advantage 1 2 External Analysis: The Identification of Opportunities and Threats 43 PART TWO THE NATURE OF COMPETITIVE ADVANTAGE 3 Internal Analysis: Distinctive Competencies, Competitive Advantage, and Profitability 80 4 Building Competitive Advantage through Functional-Level Strategies 116 PART THREE STRATEGIES 5 Business-Level Strategy 153 6 Business-Level Strategy and the Industry Environment 178 7 Strategy and Technology 210 8 Strategy in the Global Environment 246 9 Corporate-Level Strategy: Horizontal Integration, Vertical Integration, and Strategic Outsourcing 286 10 Corporate-Level Strategy: Related and Unrelated Diversification 318 PART FOUR IMPLEMENTING STRATEGY 11 Corporate Performance, Governance, and Business Ethics 359 12 Implementing Strategy through Organization 395 CASES

Customer loyalty and relationship management

Article

Jan 2013

Regarding customer relationship, we know that they are based on effective communication. To talk in order to be understood by customers requires more than the mere use of the correct words, because the source is always taken into account. Managing the customer relationship after a sale is something that few companies really do it, and when it is done, it is usually a courtesy call shortly after the purchase.

Libraries need relationship marketing

Article

Jan 2000

Business-to-business marketing: organization buying behaviour, relationships and networks

Article

Jan 2003

From Marketing Mix to Relationship Marketing

Article

Mar 1994
MANAGE DECIS

Christian Grönroos

Discusses the nature and sometimes negative consequences of the dominating marketing paradigm of today, marketing mix management, and furthermore discusses how modern research into, for example, industrial marketing and services marketing as well as customer relationship economics shows that another approach to marketing is required. This development is supported by evolving trends in business, such as strategic partnerships, alliances and networks. Suggests relationship marketing, based on relationship building and management, as one emerging new marketing paradigm of the future. Concludes that the simplicity of the marketing mix paradigm, with its Four P model, has become a straitjacket, fostering toolbox thinking rather than an awareness that marketing is a multi‐faceted social process, and notes that marketing theory and customers are the victims of today′s mainstream marketing thinking. By using the notion of a marketing strategy continuum, discusses a number of consequences of a relationship‐type marketing strategy for the focus of marketing, pricing, quality management, internal marketing and intraorganizational development. Briefly comments on the possibility of developing a general marketing theory based on the relationship building and management approach.

Determinants of Long-Term Orientation in Buyer-Seller Relationships

Article

Apr 1994
J MARKETING

Shankar Ganesan

Editorial for the Special Issue

Article

Oct 2011

Etsuko Harada

Advanced Questionnaire Design.

Article

Nov 1982

Statistical Applications for The Behavioural Sciences

Article

Jan 1993

Lawrence Grimm

Credit, Banks and Small Business in America

Article

Aug 1998
J BANK FINANC

William Dunkelberg

Understanding the Value of a Relationship

Article

Aug 1994

Relationship Quality in Service Selling: An Interpersonal Influence Perspective

Article

Jul 1990
J MARKETING

Salespeople involved in the marketing of complex services often perform the role of "relationship manager." It is, in part, the quality of the relationship between the salesperson and the customer that determines the probability of continued interchange between those parties in the future. A relationship quality model is advanced and tested that examines the nature, consequences, and antecedents of relationship quality, as perceived by the customer. The findings suggest that future sales opportunities depend mostly on relationship quality (i. e., trust and satisfaction), whereas the ability to convert those opportunities into sales hinges more on conventional source characteristics of similarity and expertise. Relational selling behaviors such as cooperative intentions, mutual disclosure, and intensive followup contact generally produce a strong buyer-seller bond.

Relationship Marketing: Successful Strategies for the Age of the Customer

Article

Jan 1991

Regis. McKenna

The one-to-one future of fundraising

Article

Jan 1997

Enterprise One to One: Tools for Competing in the Interactive Age

Article

Jan 1997

Strategic Marketing Management: Planning

Article

Jan 2005

Innovation and Entrepreneurship

Book

Jan 2007

Peter F. Drucker

Relationship marketing: Bringing quality, customer service and marketing together

Book

Jan 1991
INT BUS REV

Part 1 Relationship marketing: developing a relationship strategy quality as a competitive strategy monitoring service quality performance the transition to quality leadership managing relationship marketing. Part 2 Case studies on quality leadership: just another Cambridge hi-tech company? the shift to "customer orientation" in retail banking involving senior managers in the quality improvement process at Johnson Matthey achieving real culture change at Ilford from "crisis" to quality leadership at Rank Xerox.

Determinants of Commitment and Opportunism: Integrating and Extending Insights From Transaction Cost Analysis and Relational Exchange Theory

Article

Apr 2009
CAN J ADM SCI

Effectively governed relationships are characterized by high levels of commitment and low levels of opportunism. In this research, we develop a conceptual model that integrates insights from transaction cost analysis and relational exchange theory to identify three key antecedents of commitment and opportunism: transaction specific assets, environmental uncertainty, and relational norms. Our model extends these prior frameworks by identifying dependence and long‐term orientation as the mediating processes through which the antecedents affect the outcomes. We test the model using a scenario‐based experimental method with 168 purchasing managers as subjects. Results provide substantial support for the model. The managerial, theoretical, and future research implications of these results are discussed. Résumé Des relations menées efficacement se caractérisent par leur haut niveau d'engagement et leur faible niveau d'opportunisme. Dans la présente recherche, nous établissons un modèle conceptuel qui intègre les notions d'Analyse du coût des opérations et de Théorie des échanges relationnels afin d'identifier les trois antécédents clés de l'engagement et de l'opportunisme: les actifs spécifiques de la transaction, l'insécurité de l'environnement et les normes relationnelles. Notre modèle élargit ce premier cadre en identifiant la dépendance et l'orientation à long terme comme procédé de médiation par lequel les antécédents influent sur les résultats. Nous examinons le modèle grâce à une méthode expérimentale que se fonde sur le scénario en prenant comme sujets 168 responsables des achats. Les résultats apportent un réel appui au modèle. Nous discutons aussi, à partir des résultats, des conséquences sur la gestion, la théorie et les futures recherches.

Competitive advantage: creating and sustaining superior performance: with a new introduction

Chapter

Jan 1985

M E Porter

From Marketing Mix to Relationship Marketing: Towards a Paradigm Shift in Marketing

Article

Aug 1994
MANAGE DECIS

Christian Grönroos

Discusses the nature and sometimes negative consequences of the dominating marketing paradigm of today, marketing mix management, and furthermore discusses how modern research into, for example, industrial marketing and services marketing as well as customer relationship economics shows that another approach to marketing is required. This development is supported by evolving trends in business, such as strategic partnerships, alliances and networks. Suggests relationship marketing, based on relationship building and management, as one emerging new marketing paradigm of the future. Concludes that the simplicity of the marketing mix paradigm, with its Four P model, has become a straitjacket, fostering toolbox thinking rather than an awareness that marketing is a multi-faceted social process, and notes that marketing theory and customers are the victims of today′s mainstream marketing thinking. By using the notion of a marketing strategy continuum, discusses a number of consequences of a relationship-type marketing strategy for the focus of marketing, pricing, quality management, internal marketing and intraorganizational development. Briefly comments on the possibility of developing a general marketing theory based on the relationship building and management approach.

Service management and marketing: managing the moments of truth in service competition

Book

Jan 1990

Christian Grönroos

Developing Buyer-Seller Relationship

Article

Apr 1987
J MARKETING

Marketing theory and practice have focused persistently on exchange between buyers and sellers. Unfortunately, most of the research and too many of the marketing strategies treat buyer-seller exchanges as discrete events, not as ongoing relationships. The authors describe a framework for developing buyer-seller relationships that affords a vantage point for formulating marketing strategy and for stimulating new research directions.

Business Marketing: Understand What Customers Value

Article

Nov 1998
HARVARD BUS REV

A small but growing number of suppliers in business markets draw on their knowledge of what customers value, and would value, to gain marketplace advantages over their less knowledgeable competitors. These suppliers have developed what the authors call customer value models, which are data-driven representations of the worth, in monetary terms, of what the supplier is doing or could do for its customers. To create customer value models, the authors draw on the experiences of suppliers that have built and used such models successfully. First, the authors suggest having a shared understanding of what exactly value is in business markets. Next, the authors provide tips on how to get started. They suggest generating a comprehensive list of value elements, gathering data, validating the model and understanding variance in the estimates, and creating value-based sales tools. In terms of putting an understanding of value to use, the authors suggest managing market offerings, guiding the development of new or improved products and services, gaining customers, and sustaining customer relationships. INSETS: Using Customer Focus Groups to Assess Value; How BT Products Uses Value Models as Sales Tools; The Information BT Products Gathers to Build Customer Value..; Understanding Value: How W.W. Grainger and Its Customers Benefit.

Marketing Management: Analysis, Planning, Implementation and Control

Article

Jan 1997

Philip Kotler

Strategic market planning -- Industrial marketing -- Research for marketing decisions -- Global marketing management -- Marketing management -- Strategic marketing for nonprofit organizations -- Principles of marketing -- Services marketing -- Marketing research and knowledge development -- The strategy and tactics of pricing -- Kleppner's advertising procedure -- Marketing channels -- Legal aspects of marketing strategy -- Design and marketing of new products

Questionnaires: Design And Use

Article

Jan 1986

2. ed.

The four "P"s of marketing are dead

Article

Feb 2000
Market Health Serv

J English

For several decades marketing planning in the United States has relied upon the "four Ps" model. Product, price, place, and promotion were considered the foundation of the marketing mix. This model, however, has never been a comfortable fit for health care and, as the new century dawns, we find that a new marketing model--emphasizing the "four Rs"--is emerging. The foundations of the new model are relevance, response, relationships, and results.

Relationship marketing the Chinese way

Article

Feb 2000
Bus Horiz

Reinventing relationship marketing (banking industry)”, Bank Marketing

L Aldisert

The disappearing relationship manager

J Allen

Growing and Managing an Entrepreneurial Business

K R Allen

Relationship marketing: Customer commitment and trust as a strategy for the smaller Hong Kong corporate banking sector

Abstract

No full-text available

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