Research Paper | Management | India | Volume 3 Issue 8, August 2014
Role Played by Elements of Marketing Mix in Customer Retention in Retail Banking: An Empirical Study
Niharika Maharishi, Nitin Bhardwaj
Retail Banking, a typical mass market banking, is a service oriented sector attending to the management of its customers wealth and financial transactions as desired by them. With the opening of the banking sector, post liberalization and new players and multiple channels registering their presence, customers have become more sensitive, judicious and disloyal to the banks. This makes it imperative that banks provide best levels of service to ensure customer satisfaction. Along with the acquisition of new customers, retaining the old customers has also become a main priority for the banks today. This study aims to ascertain the importance and role played by marketing mix elements or 7Ps in enhancing customer loyalty and to ascertain the effect of the various elements on the customer mind frame. Such analysis shall help to define and suggest a model marketing strategy or a tool with a judicious mix of the preferred top rated elements. This empirical study has been conducted through collection of primary data by Non Probabilistic Sampling Technique and a Questionnaire directed at the 150 customers of 6 branches of 3 prominent private banks in 3 big cities of Rajasthan.
Keywords: Marketing Mix, Retail Banking, 7P, Customer Retention
Edition: Volume 3 Issue 8, August 2014
Pages: 803 - 806
How to Cite this Article?
Niharika Maharishi, Nitin Bhardwaj, "Role Played by Elements of Marketing Mix in Customer Retention in Retail Banking: An Empirical Study", International Journal of Science and Research (IJSR), https://www.ijsr.net/search_index_results_paperid.php?id=2015456, Volume 3 Issue 8, August 2014, 803 - 806
Similar Articles with Keyword 'Marketing Mix'
Effect of Marketing Mix Strategy on MSEs Sales performance - Gomo region, Ethiopia
Krishnasamy Srinivasan, Lisanu Esrael Adaro
The Analysis of Marketing Mix toward Behavior Intention: TCASH Case in Bandung (Quantitative ? Pilot Study)
Resty Ayuni Putri, Indrawati
Similar Articles with Keyword 'Customer Retention'
Impact of Corporate Brand on Customer's Attitude towards Repurchase Intention
Badr Elgasim Balla, Dr. Siddig Balal Ibrahim
Effects of Competitive Strategies on Customer Retention in G4s Security Services (K) Ltd
Kihoro Cyrus Murigi, Kepha Ombui
Similar Articles with Keyword 'Marketing'
Role of Marketing Information Systems in Supporting Decisions of Business Managers: Verification Test on the Case of Agribusiness in Agadir City, Morocco
M'barka BOUHOUILI; Ali RACHIDI; Mostapha AMRI
Research on the Buying Behavior and the Description of Cellphone Companys Customers
Similar Articles with Keyword 'Mix'
Influence of Strategic Planning on Implementation of Organization Structure at Safaricom Public Limited Company
Doris Edna Karimi, Dr. Jane Queen Omwenga
Sustaining the Cooperatives: The Role of Exploration
Daryl Jane Agbayani-Caballero
Similar Articles with Keyword 'Retail'
Global Challenges and Opportunities Post Pandemic
Rebecca F. D'souza
The Perfect Order Index and Ways to Improve Using Technology
Sathvik K R, Suma B
Similar Articles with Keyword 'Banking'
Credit Risk Assessment: The Structural Approach (MERTON Model) Applied to the Moroccan Banking Sector
The Impact of Organisational Change Management Theoretical Perspective in the Context of Zimbabwes Cash Crisis on Small to Medium Enterprises and their Consequent Adaptation Strategies
Enock Takudzwa Zenda, Austin Musundire, Obediah Mumanyi