Prospects Electronic-Relationship Marketing (E-RM) in the Banking Sector of Bangladesh
Abstract:Electronic-Relationship Marketing (E-RM)is an emerging marketing strategy in the banking sector of Bangladesh. For the last few years, RM and E-RM have attracted both customers and bankers as it is considered as a new ‘strategic weapon’ for maintaining proper relationships with the client. In the study, quantitative as well as qualitative data was gathered by taking personal interviews among 600 respondents, and the response rate was 100%. Empirical tests using factor analysis and tests of hypothesis using SEM were applied. An extensive analysis of the data enabled the researcher to formulate an E-RM model for the banking industry in Bangladesh to conceptualize the customer-banker relationship. It contributes to the existing body of banking and marketing literature by introducing ten factors: commitment, conflict management, responsiveness, ease of use, customization, service expense, security, communication, bonding, and trust. Most of the variables except three showed a significant and positive relationship between E-RM dimensions and customer satisfaction. The impact of customer loyalty on customer retention is also positive. The study suggests some recommendations in order to increase the effectiveness between E-RM dimensions and customer satisfaction. Finally, the thesis ends by setting out an agenda for future research.
Keywords: banking / marketing / model / bankers / Bangladesh / customer satisfaction
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