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Gwanzura-Nigel.Pdf BINDURA UNIVERSITY OF SCIENCE EDUCATION FACULTY OF COMMERCE DEPARTMENT OF MARKETING RESEARCH TOPIC IMPACT OF RELATIONSHIP MARKETING ON CUSTOMER LOYALTY IN BANKS: CASE STUDY OF ECOBANK PERSONAL BANKING BY NIGEL NGONIDZASHE GWANZURA B1336909 A DISSERTATION SUBMITTED IN PARTIAL FULFILMENT OF THE REQUIREMENTS FOR THE BACHELOR OF BUSINESS STUDIES HONOURS DEGREE IN MARKETING GRANTED BY BINDURA UNIVERSITY OF SCIENCE EDUCATION. FEBRUARY 2017 RELEASE FORM Name of Author : Nigel Ngonidzashe Gwanzura Registration Number : B1336909 Title of Project: Impact of Relationship Marketing on Customer Loyalty in Banks: Case Study of Ecobank Personal Banking Program for which project was presented : Bachelor of Business (Honours) Degree Marketing. Year granted : 2017 Permission is hereby granted to Bindura University of Science Education library and the department of business studies to produce copies for scholarly and scientific research only. The author reserves to other publication right and the dissertation extracts thereof may not be made or otherwise reproduced without author’s permission. Author’s signature…………………… Date ……………………………. Permanent address: 2779 Morning Side Marondera. i APPROVAL FORM BINDURA UNIVERSITY OF SCIENCE EDUCATION FACULTY OF COMMERCE Department of Marketing The undersigned certify that he has supervised the student Nigel N Gwanzura. A dissertation entitled Impact of Relationship Marketing on Customer Loyalty in Banks: Case Study of Ecobank Personal Banking, submitted in partial fulfilment of the requirements for the Bachelor of Business Studies Honours Degree in marketing of Bindura University of Science Education. ………………………………/…………… …………/………………….. Student Signature Date ………………………………/…………… …………/………………….. Supervisor Signature Date …….…………………………/…………… …………/………………….. Chairperson Signature Date ………………………………/…………… …………/………………….. External Examiner Signature Date ii DEDICATION I dedicate this research to my Mum and Dad who tirelessly rallied behind me through the entire research process from its formative stages until its finality. To my friends and colleagues thank you for the midnight candle we burnt together, may the Good Lord bless you abundantly. iii ABSTRACT The research investigated the impact of relationship marketing on customer loyalty. The main objective of carrying out the study was to determine the impact of relationship marketing on customer loyalty at Ecobank. In order to achieve this research objective, the researcher carried out a critical review of theoretical, conceptual and empirical literature along the research objectives set in the study. The researcher managed to identify research gaps in literature. The study made use of a causal research design in order to ascertain the association between two research variables namely, relationship marketing and customer loyalty. Simple random sampling technique was used to determine the elements to be included in the sample and a sample size of 320 was determined using the formula Saunders et al (2005). Questionnaires were used as the chief data collection instrument since the research was more quantitative in nature. The main findings of the research revealed that, there is a strong positive relationship between relationship marketing constructs (trust, commitment, conflict handling and communication) and customer loyalty with a beta values 0.583 and 0.749. This shows that companies that carry out relationship marketing are posed to have more loyal customers. Research results also revealed that there is a strong positive relationship between trust, commitment, conflict handling and customer loyalty. Communication had a moderate positive relationship with customer loyalty. Addd more iv ACKNOWLEDGEMENTS It is my singular honour and privilege that I convey my heartfelt thanks to the following people whose contributions and support made me sail through. Firstly, I would like would like to thank my supervisor Mr. P Mukucha for the unwavering support and invaluable guidance throughout the whole project. My friends whose encouragement and help kept me going when it mattered the most, you guys are truly heaven sent. Finally, I am deeply highly indebted to the unwavering support of my family in your unique ways each of you thank you. Above all, I I give praise to the Almighty God whose hand has guided me through this project against all odds. v TABLE OF CONTENTS RELEASE FORM ....................................................................................................................... i APPROVAL FORM .................................................................................................................. ii DEDICATION .......................................................................................................................... iii ABSTRACT .............................................................................................................................. iv ACKNOWLEDGEMENTS ........................................................................................................ v TABLE OF CONTENTS .......................................................................................................... vi LIST OF TABLES .................................................................................................................... ix LIST OF FIGURES .................................................................................................................... x LIST OF APPENDICES ........................................................................................................... xi CHAPTER ONE: INTRODUCTION ......................................................................................... 1 1.0 Introduction ...................................................................................................................... 1 1.1 Background of the study .................................................................................................. 1 1.2 Statement of the problem ................................................................................................. 4 1.3 Aim of the study............................................................................................................... 4 1.4 Research Objectives ......................................................................................................... 4 1.5 Research Hypothesis ........................................................................................................ 4 1.6 Significance of the research ............................................................................................. 5 1.7 Assumptions of the Study ................................................................................................ 5 1.8 Delimitations of the study ................................................................................................ 5 1.9 Limitations of the study ................................................................................................... 6 1.10 Definition of terms ........................................................................................................... 6 1.11 List of Abbreviations ....................................................................................................... 7 1.12 Organization of the study ................................................................................................. 7 1.13 Summary .......................................................................................................................... 7 CHAPTER TWO: LITERATURE REVIEW ............................................................................. 8 2.0 Introduction ...................................................................................................................... 8 2.1 Dimensional structure of relationship marketing ............................................................. 8 2.2 Theoretical Framework .................................................................................................... 8 2.2.1 Conceptualization of Relationship Marketing.............................................................. 8 2.2.2 Customer loyalty .......................................................................................................... 9 2.2.3 Dimensions of Relationship Marketing........................................................................ 9 vi 2.3 Conceptual model .......................................................................................................... 14 2.4 Empirical Frame Work .................................................................................................. 14 ii. Commitment ..................................................................................................................... 15 2.5 Research Gap ................................................................................................................. 16 2.6 Summary ........................................................................................................................ 17 CHAPTER THREE: RESEARCH METHODOLGY OF THE STUDY ................................ 18 3.0 Introduction .................................................................................................................... 18 3.1 Research Design............................................................................................................. 18 3.2 Target Population ........................................................................................................... 18 3.3 Sampling Procedure ......................................................................................................
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