RELATIONSHIP MARKETING'S FUNCTION IN THE BANKING INDUSTRY'S CUSTOMER ORIENTATION PROCESS WITH AN EMPHASIS ON LOYALTY

Abstract

The purpose of this study was to conduct an empirical investigation into how the foundations of relationship marketing like trust, commitment, communication, handling conflict, bonding, shared values, empathy and reciprocity will affect client loyalty in the banking sector. A study was carried out in the state of Tamilnadu, wherein 200 randomly selected bank customers and they completed a questionnaire consisting of 34 questions. The data was analyzed using multiple regression analysis. The findings demonstrated that each of the relationship marketing pillars had a substantial impact on customer loyalty and was closely related to it. Thus, it seems sense to draw the conclusion that marketing strategies that focus on fostering trust, exhibiting a dedication to customer service, interacting with clients in a prompt, dependable and proactive manner, resolving conflicts amicably, and offering incentives may all help to generate, reinforce and to maintain customer loyalty.