Essay:

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  • Subject area(s): Marketing
  • Price: Free download
  • Published on: 14th September 2019
  • File format: Text
  • Number of pages: 2

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Aims of the study

The main objective of this research is to investigate and study the role of relationship marketing tactics in building customers' loyalty in the Nigeria banking industry, in order to achieve this purpose, the research focuses on:

 Determining relationship marketing tactics in practice that positively contribute to customer loyalty.

 Examining the extent the banks effectively practice relationship tactics to enhance loyalty.

 Determining 'the behaviour of loyal customers towards the banks and their services.

 To examine the contribution of effective customer relationship management to Customer loyalty.

 To ascertain whether customer relationship management is a strategy to increase banks profitability.

Methodology

The motivation behind methodology is to clarify the exploration procedure and the particular techniques utilized as a part of this study, the testing strategies and reaction rates, the route in which the information was investigated, and how the impediments and obstructions that emerged all through the behavior of the examination were successful. As clarified in the presentation, the fundamental point of this examination is to assess the significance of relationship marketing in building customers loyalty in Nigeria Banking Industry using Guaranty Trust Bank plc, Surulere Branch Lagos, Nigeria.

There are two major types of research; one is quantitative while the other is qualitative. Keeping this examination target in perspective, the author have decided to attempt a study by utilizing polls by the use of quantitative system which seemed more suitable to collect data that is absolute. At no point was a qualitative system used to gather data because of the volume of time it consumes. The reason of picking this strategy would be broken down underneath taking into account focal points of subjective and quantitative examination.

The research questionnaires will be hand-distributed to the employees of Guaranty Trust Bank Plc, Surulere Branch, Lagos, Nigeria so as to acquire a good amount of response proportion. In addition to the strategy that will be adopted to reach the respondents, the author will make the questions so friendly and easy to understand coupled with marking or ticking of appropriate options provided to each answer.

The sample population would be the workers of the Guaranty Trust Bank Plc ranging from Operations, Customer Service, Marketers and Human resources.

The data will be analyzed by the use of SPSS 20.0 for descriptive and cross tabulation analysis and Chi Square test analysis will be conducted to ascertain the significant level of the relationship between variables tested.

The independent variable is the factor selected and measured to determine its relationship with the observed variable, they influence other variables while the dependent variable is that which is observed and measured to determine its effect on the independent variable (Bless & Higson-smith, 1995).

This survey will be used to gather data relating to the importance of relationship marketing on the customers' loyalty in Guaranty Trust Bank, Nigeria Plc.

Expectations

In the study, relationship marketing will be described as a marketing activity towards identifying, building, encouraging and maintaining long term relationship among business partners, customers in particular by satisfying their needs and enhancing organizational performance. Based on the findings in the study, it will be expected to observe the following findings which are as follows:

• Quality customer service, keeping promises, customer satisfaction, and customer trust are relevant relationship marketing tactics that contributes positively to customer loyalty in the banking industry.

• Nigerian banks are fully engaged in the practice and implementation of relationship marketing strategies to enhance customer loyalty.

• Unfriendly attitude of workers; poor attendance to customers; and insincerity in keeping promises affects customers loyalty in the banking industry.

• Quality internal/employee relationship creates positive impression to customers and improves customers' loyalty.

• Loyal customers always exhibit positive attitude and behaviour towards and organization.

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