Title: Customer Relationship Marketing and its Influence on Customer Retention: A Case of Commercial Banking Industry in Tanzania
Abstract: This study investigated the extent to which customer relationship marketing influences customer retention with their commercial banks in Tanzania. It assessed how the antecedents of relationship marketing (RM) notably customers’ trust, commitment, satisfaction and relationship influence customers’ retention with their commercial banks. The research aimed at contributing to a theoretical knowledge and also guiding marketing practitioners with the strategies and programs to use in order to retain their customers. Cross-sectional survey method was used to collect data by using the questionnaires. The Chi-Square method and multiple regression models were used in the data analysis. The former was used to judge the variation of observed variables in explaining the latent variables while the latter giving the conclusion of the stated hypotheses. From the study, a satisfied customer will not always enter into a long-term relationship with the bank. However, the committed customer with degree of trust enters into a long-term relationship with the bank. The results suggest that, a long-term customer-organization relationship is crucial in creating longer-term customer retention. Banks have to plan and design strategies to capture the needs and expectations of customers as a way of creating a continuous long-term relationship with them over time.
Publication Year: 2015
Publication Date: 2015-10-01
Language: en
Type: article
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Cited By Count: 13
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