Browsing by Author "Madusanka, B. T."

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Impact of Relationship Marketing on Customer Loyalty in State Sector Commercial Banks in Sri Lanka
(Department of Marketing Management, Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka, 2024) Madusanka, B. T.; Patabendige, S. S. J.
Relationship marketing is designed to foster customer loyalty, interaction, and long-term engagement. It focuses on customer satisfaction and the provision of value over time rather than individual transactions. However, relationship marketing and its impacts can take various forms and shapes. We explore the influence of relationship marketing on customer loyalty within state-sector commercial banks in Sri Lanka by drawing on four pivotal independent variables: trust, commitment, communication, and conflict handling. The study uses a survey-based quantitative research design that covers customers of state-sector commercial banks in Sri Lanka. Despite the overall population size being undetermined, the study draws evidence from 369 respondents. The collected data was analysed using descriptive and inferential statistics using SPSS 20 software. The study's findings highlight that all relationship marketing predictors positively correlate with customer loyalty, indicating a significant positive impact on customer loyalty in the context of Sri Lanka's state-sector commercial banks. Notably, communication emerged as the most critical factor influencing customer loyalty. The study concludes that relationship marketing exerts a positive effect on customer loyalty in the examined banks, highlighting the strategic importance of fostering relational elements to enhance customer loyalty. By focusing on these key findings, businesses, especially financial institutions, can cultivate strong, lasting customer relationships, improving loyalty, repeat business, and positive word-of-mouth referrals.
Strengthening Customer Loyalty: Exploring the Role of Relationship Marketing in Sri Lanka’s Public Sector Banks
(Faculty of Commerce and Management Studies University of Kelaniya., 2024-11-11) Madusanka, B. T.; Patabendige, S. S. J.; Dharmawardane, M. N. S. H.
Customer loyalty is seen as critical to the long-term success of businesses, where relationship marketing has emerged as a key strategy used to attract, maintain, and enhance customer relationships. However, past studies have found significant differences between factors affecting customer loyalty and satisfaction between private and public sector banks, with calls for public sector banks to adopt more dynamic marketing strategies to bridge such gaps. The purpose of this study is to empirically investigate the impact of relationship marketing on customer loyalty in the context of the public sector banks in Sri Lanka. More specifically, this study examined the direct relationship between trust, commitment, communication, and conflict handling, which are seen as key attributes of relationship marketing with customer loyalty of public sector commercial banks in Sri Lanka. The study used a convenient sampling design with 384 respondents acquired through a structured questionnaire, which captured state commercial bank customers in the Colombo district of Sri Lanka. Data analysis was done using correlation and regression techniques with the support of SPSS software. The findings suggest that all four variables associated with relationship marketing significantly explain the variations in customer loyalty. These findings differ from those of past studies focusing on private sector banks that found trust and communication to be the key relationship attributes that lead to customer loyalty. This research contributes to the limited body of knowledge on relationship marketing and customer loyalty in the public banking sector. It also provides critical input to public sector bankers on avenues for strengthening customer loyalty from a customer relationship perspective.