Relationship Marketing: Impact on Bank Customers‟ Satisfaction
Deboshree Chatterjee1, AVS Kamesh2
1Deboshree Chatterjee Research Scholar, Business School Koneru Lakshmaiah Education Foundation, Vaddeswaram, AP, India.
2AVS Kamesh, Professor, Business School, Koneru Lakshmaiah Education Foundation, Vaddeswaram, AP, India.

Manuscript received on November 12, 2019. | Revised Manuscript received on November 23, 2019. | Manuscript published on 30 November, 2019. | PP: 8754-8760 | Volume-8 Issue-4, November 2019. | Retrieval Number: D9158118419/2019©BEIESP | DOI: 10.35940/ijrte.D9158.118419

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Abstract: In a country, banking sector servers as the foundation on which the pillars of economic growth and development can be constructed. With the major reforms in banking sector, the scenario of bank market has been changed. Target market of banking sector has become highly competitive, dynamic and fragmented. Hence, there is a need for a shift from the transactional marketing strategy to relationship-based marketing strategy in all the banks. This study reviewed the concept and need of relationship marketing in banks and attempts to identify significant dimensions of relationship marketing and their impact on customer satisfaction. The paper concludes on the basis of extensive literature review that relationship marketing dimensions like quality service, tailored products, communication, trust, commitment, empathy, social bonding, financial bonding, cooperation, and technology should be taken into serious consideration by banks to enhance the level of customer satisfaction which in turn increases customer loyalty and retention rate. Consequently, both the parties get mutual benefits.
Keywords: Transactional marketing, Relationship marketing, Relationship marketing strategies in Banking sector, Customers satisfaction in banks.
Scope of the Article: Marketing and Social Sciences.