An investigation to determine the effectiveness of the link between investment in relationship marketing with "trust and loyalty" : a comparative study
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The purpose of this research is to investigate the effectiveness of relationship marketing in Irish Retail Banking. The development of relationship marketing continues to grow in academic and practical terms. More specifically this study addresses the issue of whether investment in relationship marketing is conducive to trust and loyalty. A process of triangulation is used that incorporates qualitative and quantitative methods. The methodology includes an exploratory phase that incorporates focus groups with in-depth interviews. The exploratory data is then validated by the employment o f quantitative research by means of a questionnaire. The results show no link between the level of investment in RM. and the corresponding trust and loyalty of the target segments. Distinct levels of trust and loyalty are identified in relation to respective segments. The study also proposes a new marketing approach that is particularly suited to the retail banking sector. Relationship marketing is particularly under scrutiny in modern retail banking and as the research asserts, requires extensive revision in this particular sector. The study provides the basis for a rich blend of further research. While the implications of the study are directly applicable to banking, indirectly other sectors can benefit from the key thematic developments.
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