Impact of relationship marketing on customer loyalty in banking sector of UK.

University essay from Högskolan i Gävle/Företagsekonomi; Högskolan i Gävle/Företagsekonomi

Abstract: Banking sector is one of the largest sectors dealing with individual customers directly and in fact the success and profitability of company is also based on the number of customer base and their level of transactions. The current banking industry is under immense pressure because now the customer switching is quite common but the banks are still trying to sustain their customer base by managing the customer loyalty program through effective customer relationship management. The current study revolves around the customer relationship and customer loyalty in banking sector of UK. The study has been started with objective to understand that whether relationship marketing have any significant impact on customer loyalty and customer retention in banking sector of UK. The study is based on primary research work where the customers of UK banking sector have been contacted through social media for supporting in research work. There are 2500 customers were targeted for the survey purpose but just 160 people replied with survey and the same data was used for result analysis. The convenience sampling method is used in study and the survey was conducted through survey questionnaire. The survey questionnaire was prepared on Likert Scale and the questionnaire was formed on Google Drive. The survey result is analysed with help of SPSS 22.0 and the major statistical used for study are Mean and graphical presentation. The hypothesis testing is done through ANOVA. The result indicates that there is a positive relationship between relationship marketing and customer loyalty and retention.

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