Customer Relationship Marketing and its Influence on Customer Retention: A Case of Commercial Banking Industry in Tanzania
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College of Business Education
Abstract
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This study investigated the extent to which customer relationship marketing influences
customer retention with commercial banks in Tanzania. It assessed how the antecedents of relationship marketing notably customers’ trust, commitment, satisfaction and relationship influence customers’ retention with their commercial banks. Cross-sectional survey method was used to collect data by using the questionnaires. The Chi-Square was used to judge the
variation of observed variables in explaining the latent variables. Multiple regressions were employed to give the conclusion for the stated hypotheses. From the study, a satisfied customer will not always enter into a long-term relationship with the firm. However, the committed customer with degree of trust enters into a long-term relationship with the firm. The results suggest that, a long-term customer-organization relationship is crucial in creating longer-term customer retention.
Keywords
Customer Relationship marketing (CRM), trust, commitment, satisfaction, customer retention.