Relationship Marketing and Customers’ Satisfaction in the Guaranty Trust Bank Plc: An Empirical Investigation
This study investigated the extent to which relationship marketing (RM) variables predict customers’ satisfaction. It specifically examined the relationship between RM (organisational competence, trust and communication) and customers’ satisfaction. Also, the study analysed the extent to which the relationship marketing predicts customers’ satisfaction. The study adopted a case study approach. A total number of 360 respondents were selected across branches of Guaranty Trust Bank within Lagos metropolis to complete a structured questionnaire. A total number of 310 copies were retrieved, but 250 were found useful. Statistical Package for Social Sciences was used to organise the data. The simple percentage was used for the bio-data and frequency counts, while Pearson correlation and multiple regressions were used to test the hypotheses of the study. The study found a positive and significant relationship between relationship marketing and customers’ satisfaction. Also, RM variables (Organisational competence p = 0.014), trust (p =0.022) and communication p= 0.014)) are significant predictors of customer satisfaction with the estimated regression equation F-Statistic = 79.220, p = 0.001). The study recommended that organisations should ensure the capability of their workforce, build confidence through the openness of all material facts relating to all transactions and ensure time and effective communication among stakeholders.