The Effect of Relationship Marketing on Customers’ Loyalty (Evidence from Zemen Bank)

Abstract

Every firm without good marketing team and strategies is bound to fail. In order to be competitive and profitable in the industry, bankers should acquire and retain profitable customers. Definitely this is done with relationship marketing. Relationship marketing is a philosophy of doing business, a strategic orientation that focuses on keeping and improving current customers rather than acquiring new customers. The aim of this study is to investigate the influence of relationship marketing underpinning son customers" loyalty. The study also investigated the mediating role of top management commitment between relationship marketing and customers" loyalty. The study is based on information collected from both primary and secondary sources of data. The sample for this study is taken from customers of Zemen Bank in Addis Ababa. Data analyses were done using frequencies, percentages, means, standard deviations, cross-tabulations, and tables followed by discussions. Moreover, inferential statistics of bivariate correlations and simple as well as multiple regressions were used. Findings of this study reveal that there is a significant and strong correlation between relationship marketing and customers" loyalty. Moreover, the study reveals that there is significant effect of trust, commitment, communication, and gratitude on predicting customers' loyalty. Of these relationships, gratitude emerged as the strongest factor which influences customers' loyalty while conflict management remained statistically insignificant and negligible influence on customers' loyalty in the cumulative model. However, all underpinnings had statistically significant influence on customers' loyalty as individual. Moreover, management commitment had mediating effect between relationship marketing and customers' loyalty. Depending on the findings, practical implications of this study is, in order to ensure loyalty among bank customers; bankers should build a better relationship marketing strategy. Therefore, banks competitiveness and profitability will depend on their ability to build strong relationship bonds with their customers continuously. Furthermore, future research directions were also suggested on this study.

Pengaruh Kualitas Produk, Harga, Dan Promosi Terhadap Loyalitas Pelanggan

“…Penelitian terdahulu lainnya dilakukan oleh Steppen (2013) mengemukakan hasil bahwa promosi juga berpengaruh positif signifikan terhadap loyalitas pelanggan. Penelitian serupa dilakukan oleh Chakiso (2015) yang hasilnya menunjukkan bahwa promosi berpengaruh secara signifikan terhadap loyalitas pelanggan. Penelitian serupa berikutnya dilakukan oleh Tahmasbizadeh, Hadavand dan Manesh (2016) yang menunjukkan hasil bahwa promosi berpengaruh positif dan signifikan terhadap loyalitas pelanggan.…”

“…Hasil penelitian ini sesuai pada penelitian sebelumnya yang dilakukan oleh Lumintang (2013), Steppen (2013), Chakiso (2015), Tahmasbizadeh et al (2016), Simanjuntak dan Ardani (2018), Kuncoro dan Sutomo (2018) yang menyatakan hasil penelitian bahwa promosi berpengaruh positif dan signifikan terhadap loyalitas pelanggan. Hal ini berarti promosi dapat menimbulkan loyalitas pelanggan, karena dengan promosi dapat mengenalkan Smartfren kepada konsumen dan membuat konsumen menyukai produk tersebut sehingga meningkatkan loyalitas pelanggan Smartfren.…”

Factors affecting Attitudes towards Adoption of Mobile Banking: Users and Non-Users Perspectives

“…Trust is among the vital factors in exchange relationship between two partners to have noble outcomes such as loyalty (Morgan and Hunt, 1994;Chakiso, 2015) and related with satisfaction (Luakkannen, 2017). The existing uncertainty with mobile banking and service by its nature make one of the critical factors for marketers (Luo, Li, Zhang, and Shim, 2010).…”

“…The trust between the exchange partners leads to productivity and efficiency preceded by cooperative behavior (Morgan and Hunt, 1994). Building trust would take time and it differs types of offerings especially in services which are intangible in nature (Chakiso, 2015). For example, Chawla and Joshi (2017) pointed out that the level of trust varies for different types of technological innovations associated with its perceived risks.…”

Marketing De Relacionamento: Estudo Em Empresas De Pequeno Porte/Relationship Marketing: Study in Small Business Companies

“…Com a dinamicidade do mercado, o marketing de relacionamento tem sido utilizado como estratégia de vantagem competitiva, no sentido de fidelizar clientes junto às organizações (CHAKISO, 2015;MILAN, 2006). Dessa forma, clientes fiéis são considerados como consumidores diretos dos produtos e serviços, sendo potenciais defensores e divulgadores de uma marca (GABRIEL;PELISSARI;OLIVEIRA, 2014;NDUBISI, 2004).…”