Bank managers' views on relationship marketing

The purpose of this article is to investigate relationship marketing and customer retention in South African banks, based on the perceptions of bank managers. Banks can use relationship marketing and customer retention to attract and maintain profitable clients. However, often the views of managers...

Full description

Saved in:
Bibliographic Details
Published in:Journal of Contemporary Management 2011-01, Vol.8 (1), p.315-336
Main Author: Rootman, C.
Format: Article
Language:eng ; por
Subjects:
Banks
Customer retention
Relationship marketing
Social Issues
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary:The purpose of this article is to investigate relationship marketing and customer retention in South African banks, based on the perceptions of bank managers. Banks can use relationship marketing and customer retention to attract and maintain profitable clients. However, often the views of managers and clients differ regarding the variables important for bank-client relationships. A self-developed, structured questionnaire was distributed via judgemental snowball sampling to bank managers in South Africa. Findings in the paper revealed that, according to bank managers, only two of the selected six variables influence relationship marketing. As this study forms part of a broader study, a difference in the viewpoints of bank managers and individual banking clients is evident. This article focuses on how banks should change their bank managers' relationship marketing views to align these with the views of clients. Ultimately, strategies suggested by this article could improve bank-client relationships and banks' customer retention.
ISSN:1815-7440