Relationship Marketing and Its Impact in Nigeria: Study of the Money Deposit Banking Sector
|Author(s)||by A. E. Ndu Oko, S. E. Kalu|
|Keywords||Management philosophies, internal marketing, customer exploitation, ICT, Interactive marketing, bank density and money deposit banks.|
|Open Access||Access PDF Open in New Tab|
Employees of the money deposit banking sector of Nigeria express dis-satisfaction based on employer-employee relationships thus grievances rate is high as well as rate of labour turnover. These impact negatively on the ability of these firms at customer satisfaction, thus profit reported periodically rather than base on consumer satisfaction is based on high service charges and cost of capital in exchange relationship. This work therefore studied for challenges to the adoption of relationship marketing principles in the banking sector of Nigeria, based on the adoption of the questionnaire method of data collection, hypotheses, spearman’s rank correlation co-efficient, and Pearson’s correlation co-efficient among others as date analysis tools. Findings among others include that management of these firms operate base on the task performance philosophy as against a balance between task and maintenance philosophies; operations are not internal marketing oriented and relationship marketing principles are not internalized in the employees as they are compelled to behave relationship marketing. It is believed that activities aimed to spurring intra industrial competition in this industry will spur up the adoption of relationship marketing principles.
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