Abstract
In today’s competitive world, the attraction and retention of customers in banking industry has become much more difficult and only those banks are successful in this competition that focuses their activities on attraction and retention of their customers. In other words, customers’ satisfaction and loyalty are considered as one of the most significant objectives of banking system. Consequently, the purpose of present research is to investigate the impact of relationship marketing, emotional marketing and supportive marketing on the customers’ loyalty in Pars Abad banks with the mediating role of customers’ satisfaction. The statistical population of research comprises all the customers of private banks, public banks and credit and finance institutions of Pars Abad. From this population, 377 customers were selected as the research sample using random sampling method in terms of Morgan table. The questionnaires were used as the statistical instrument for data collection. The reliability of these questionnaires was confirmed using Cranach’s Coefficient Alpha. The collected data were analyzed using Structural Equation Modeling (SEM) and Boot Strap. The SPSS, Lisrel and Stata software were also used in various stages of estimation. The results revealed that the customers’ satisfaction plays a mediating function in the relationship between the effect of relationship marketing, emotional marketing and supportive marketing on customers’ loyalty.
Highlights
Customer’s satisfaction is regarded as one of the most important factors of success in various organizations
The purpose of present research is to investigate the impact of relationship marketing, emotional marketing and supportive marketing on the customers’ loyalty in Pars Abad banks with the mediating role of customers’ satisfaction
The relationship marketing is a new approach to banking industry, which mainly aims at creating close and long-term relationships with the customer in order to attain a full understanding of the customer and his satisfaction [12]
Summary
Customer’s satisfaction is regarded as one of the most important factors of success in various organizations. If the state and private banks intend to succeed in today’s competitive world and achieve their objectives, they need to use relationship marketing approach and the emotional marketing and supportive marketing. To achieve this goal, the Iranian banks have always tried to introduce approaches and programs for creating and maintaining long-term relationships with their customers and have their loyalty. With the emergence of private banks along with state banks and an intensive competition in the Iran banking industry, it is necessary to create and maintain long-term relationships with customers to have their loyalty since the unfriendly relationships with the customers causes that a business company loses the available opportunity and be eliminated from this competition. This study makes an attempt to investigate factors affecting customers’ satisfaction and loyalty in order to introduce a model for improving their performance and to take effective steps to provide their customers with appropriate services
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