The Application of a Relationship Marketing Perspective in Retail Banking |
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Abstract: | This article considers the development of relationship marketing in retail financial services. It begins by examining the relationship marketing literature and considering its application to the retail banking industry. Following a discussion of the research methodology, four in-depth retail bank case studies are presented. These cases form the basis of a qualitative analysis of the state of relationship marketing in retail banking. Many banks have already reached a higher level of relationship marketing than businesses in other sectors. Yet generic relationship marketing models such as the one applied in this research do not necessarily reflect these differences. A modified version of a relationship marketing model, which caters for the particular characteristics of retail banks and which may be applicable to other services businesses, is therefore proposed. |
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