Business, Management and Accounting
8 years ago

Customer satisfaction key to long-term relationships in retail banking

Service Industries Journal
Relationship Marketing: the Importance of Customer-Perceived Service Quality in Retail Banking
Maria Holmlund, Sören Kock

Paper Summary

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Relationship marketing in retail banking focuses on keeping existing customers satisfied to maintain long-term relationships. Banks need to provide service quality that meets customer expectations to prevent them from switching to other banks. This approach aims to be more efficient and profitable by prioritizing current customers over attracting new ones.