Commerce and Management

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    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.
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    Relationship between consumer acquisition efforts and consumer loyalty
    (University of Kelaniya, 2016) Singh, J.; Saini, S.
    Consumer Relationship Management is an integrated approach to manage long-term consumer relationships by implementing the practices of right acquisition and retention efforts. The purpose of study is to examine the key role of consumer acquisition efforts in driving consumer loyalty through direct and indirect approaches. The empirical study has been conducted by taking a sample of 600 consumers from three diverse service categories, i.e. Health, Retail, and Wellness. In order to observe the service category as moderator, the present research aims to implement the multiple-group analysis in CFA and SEM through AMOS17.0. Results suggest that in health and wellness sectors, consumer acquisition efforts are positive enough to create behavioral loyalty only. No direct effect of consumer acquisition efforts on consumer loyalty has been reported across three service sectors. This paper empirically provides a detailed assessment of acquisition drivers that help a firm to build a loyal consumer base.
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    RELATIONSHIP MARKETING: CUSTOMER COMMITMENT AND TRUST AS A STRATEGY FOR CORPORATE BANKING SECTOR IN SRI LANKA
    (2010) Abeysekera, N.; Hewawasam, B.
    Banking sector can be considered as main recipient in recent economic downturn. There is a need for better strategies in this sector. As a result of the continuing movement towards deregulation and the associated increase in competition, establishing a long-term institutional relationship with corporate clients becomes of great importance to the banks in order to gain a moderate or greater share of the financial market and of a corporation?s business. In effect, because the bank provides its corporate client with additional facilitating and supporting services, the demand for banking products and services by a partnership relationship client will be less sensitive to price than is the demand by a shortterm, non-relationship customer. This study examines the commitment-trust dimension of the relationship marketing paradigm in Sri Lankan?s corporate banking sector. Random sample method has been used with questionnaire. The findings show that the marketing strategy and a long-term marketing orientation were positively correlated with customer commitment and trust. And To continue to be successful in the corporate sector, banks must invest in the long-term relationship marketing activities.