RELATIONSHIP MARKETING AND CUSTOMER SATISFACTION IN THE NIGERIAN BANKING INDUSTRY
Abstract
ABSTRACT
The study examines the relationship between relationship marketing and customer satisfaction in the Nigerian banking industry. A sample of 100 students of Olabisi Onabanjo University who are banking customers of Gtb,Access and Wema banks in Ago Iwoye,Ogun State was collected using structured questionnaires. This research explores the effectiveness of relationship marketing practices such as communication, customer segmentation, rewards and incentives and personalization in enhancing customer satisfaction. The data were analyzed using descriptive statistics, pearson correlation and multiple regression analysis to determine the relationship between relationship marketing components and customer satisfaction. The findings reveal that effective relationship marketing significantly enhances customer satisfaction, with personalization emerging as the most influential factor. This study highlights the importance of adopting customer-centric marketing strategies in the Nigerian banking industry to foster customer loyalty and maintain a competitive edge. The research concludes with recommendations for bank managers to strengthen their relationship marketing initiatives to enhance customer satisfaction and sustain long-term customer relationships.
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