The survey effect of relationship marketing strategies on customer loyalty: A case study of comparison between a private and government owned bank

Abstract

The intensity of competition in markets and the importance of maintaining customers for organizations causes Banks to move towards creating and keeping long term relations with customers. According to researcher’s point of view, relationship-bound marketing is the most appropriate option for making this to take place. In this study, the impact of basis of relationship (RM) -bound marketing on customer loyalty, the importance of these variables in customer’s point of view and the level of banks success in the field of creating each and every one of these variables is being discussed. This study consists of a total of 312 customers taken from one government bank and one private bank in Mazandaran province. The device for collecting data is questionnaire and data were analyzed by the use of multiple regression and U Mann-Whitney testing system. The results indicate that in government and private banks, four RM relationship bound marketing strategy have a significant and positive impact on the loyalty of customers and preference of impact of these variables has been done as communication management, conflict management, commitment and trust. The preference of these variables in both banks has been the same because there was no meaningful difference between mean of variables in the two banks. And finally by using route analysis, both direct impact of independent variables on dependent variables and their indirect impact too have been studied. Key words: Relationship marketing, trust, commitment, communication, conflict management.