AN EMPIRICAL STUDY OF THE EFFECTS OF RELATIONSHIP MARKETING ON BANKS PERFORMANCE IN ABA, ABIA STATE NIGERIA

ABSTRACT

Banking today has become more innovative, competitive and attractive. The competition has driven strategies to be developed day in and day out, ideas become archaic and management of Banks would have to be constantly, developing ideas that will promote their services and lure more customers to their base to survive the terrain. Therefore, this study examines the effect of Relationship Marketing on Performance in the Banking Industry, with a Case Study of some selected Bank branches of First Monument Bank Plc. Survey Method was used in the research and data for the study were drawn from primary and secondary sources. Method of data analysis were Correlation Coefficient and Likert Scale that was performed by using SPSS Software. The findings of the study revealed that Relationship Marketing has positive impact on the performance of the Banking Industry in Nigeria. The work revealed that most customers are not familiar with the Bank’s Products, customers are not satisfied with the way the bank handles complaints and they as well  do not have confidence in the bank’s investment advice. It is recommended that good promotion be run on new products by the Bank Management Staff of FCMB complaints. Also Relationship Marketing requires the involvement of everyone in the organization in other for it to succeed effectively.

TABLE OF CONTENTS

Chapter One

Introduction

1.1 ﾿ Background of Study ﾿ 1

1.2 ﾿ Problem Statement ﾿ 3

1.3 ﾿ Objective of the Study ﾿ 4

1.4 ﾿ Research Question ﾿ 5

1.5 ﾿ Hypothesis Statement ﾿ 5

1.6 ﾿ Significance of Study ﾿ 6

Chapter Two

Literature Review

2.1 ﾿ Overview ﾿ 7

2.2 ﾿ Definition of Marketing and Relationship 

Marketing ﾿ 10

2.3 ﾿ Development of Relationship Marketing ﾿ 12

2.4 ﾿ Customer Retention ﾿ 13

2.5 ﾿ Customer Loyalty ﾿ 14

2.6 ﾿ Variables of Relationship Marketing ﾿ 15

2.7 ﾿ Scope of Relationship Marketing ﾿ 16

2.8 ﾿ The Basis for Effective Customer Relationship ﾿ 18

2.9 ﾿ Relationship Marketing Enhances Service Delivery ﾿ 21

2.10 ﾿ Customer Value Satisfaction as a Pre-requisite for

﾿ Relationship Marketing in Banking Industry ﾿ 22

2.11 ﾿ How Customer Relationship can be Strengthen ﾿ 24

Chapter Three

Research Methodology

3.1 ﾿ Study Area ﾿ 27

3.2 ﾿ Population and Sampling Technique ﾿ 27

3.3 ﾿ Method of Data Collection ﾿ 28

3.4 ﾿ Data Analysis ﾿ 28

Chapter Four

Result and Discussion

4.1 ﾿ Socio Economic Characteristics of Respondents ﾿ 32

4.2 ﾿ Based on the Relationship between the Customer

﾿ and the Bank ﾿ 35

4.3 ﾿ Year of Service ﾿ 42

4.4 ﾿ Five Year Financial Summary of the Bank ﾿ 49

4.5 ﾿ Determination of Level of Customer Satisfaction and

﾿ Its Relationship to Relationship Marketing ﾿ 52

Chapter  Five

Summary, Conclusion and Recommendation

5.1 ﾿ Summary ﾿ 54

5.2 ﾿ Conclusion ﾿ 55

5.3 ﾿ Recommendation ﾿ 55

Reference

Appendix 1

Appendix 2