Relationship Marketing As A Strategy For Competitive Advantage

Relationship Marketing As A Strategy For Competitive Advantage (A Study Of Selected Banks)

The problem that triggered this study is the pace and intensity of competition in the banking industry in Anambra state. The main objective of the study was to identify if there is an interlink between relationship marketing and competitive advantage in the banking industry in Anambra State. The study was guided by five research hypothesis. Primary data was collected from a randomly selected 12 branches of commercial banks operating in Anambra state with a five point likert questionnaire. Multiple regression and pearson moment correlation were used to test the hypotheses. The major finding of this study is that relationship marketing offers potent competitive advantage in the banking industry in Anambra state. The study concludes that relationship marketing has a significant and potent relationship with variables of competitive advantage such as market share ,profit and sales. The study made two key recommendations: first banks in Anambra state are enjoined to design their strategy of wooing customers by emphazing the components of relationship marketing such as trust, competence, empathy, communication and commitment.