Relationship Marketing and Customer Loyalty: Experience from Banking Industry of Bangladesh
Patuakhali Science and Technology University*
Abstract: The study aims to investigate the impact of Relationship Marketing practices on customer loyalty of bank customers in Bangladesh. The researchers have used loyalty as the dependent variable and the five variables of Relationship Marketing; namely, trust, commitment, conflict handling, communication and commitment as the independent variables. The data collection has been carried out through structured questionnaires. Then the effect of customer loyalty on Positive Word of Mouth communication and customer retention has been analyzed. The effect of demographic characteristics of the respondents on Relationship Marketing- Customer Loyalty has been analyzed by the researchers. Results show that Relationship Marketing practices have significant impact on customer loyalty and there is significant impact of level of education of the respondents on Relationship Marketing –Customer loyalty relationship. The results also show that customer loyalty has significant positive association with customer retention and Positive Word of Mouth Advertisements.
Keywords: Relationship Marketing, Customer Loyalty, Banking Industry, Bangladesh