Relationship Marketing and Customers’ Satisfaction of Selected Deposit Money Banks in Nigeria

Abstract

This study examined the influence of relationship marketing on customer satisfaction among selected deposit money banks in Nigeria. The research design used was a survey. The population of the study consisted of all customers of the top five performing deposit money banks from six states in southwest Nigeria. A stratified random sampling technique was employed to determine the sample size. Cochran's formula was utilized to determine the overall sample size, resulting in a total of three hundred and eighty-four (384) participants. Data were obtained through self-administered questionnaire of three hundred and eighty-four (384), while three hundred and twenty-one (321) copies of questionnaire were adequately filled, returned and used for the research. Inferential statistics used was linear regression and Statistic Package for Social Science (SPSS) version 23 was used for data analysis. The result revealed that commitment is 0.732 with t = 6.948 and (p = 0.000 < 0.05); empathy is 0.696 with t = 15.901 and (p = 0.000 < 0.05. The study concluded that relationship marketing variables have a positive and significant influence on customer satisfaction. The study recommended that bank employees should improve the level of commitment among their customers and treat them with outstanding service in order to boost customer’s satisfaction. Also, bank staff members should improve the working atmosphere for the customers’ conveniences; attend quickly to customers whenever issues arise with their account, and show empathetic ability in order to satisfy the customers.