The Impact of Relationship Marketing on the Sustainable Development of Economic Participation Space among the Customers of Commercial Banks in Arak

Authors

1 PhD student in Business Management, Islamic Azad University, Qom Branch, Qom, Iran

2 Assistant Professor, Department of Management, Payame Noor University, Qom Branch, Qom, Iran

3 Assistant Professor, Department of Management, Islamic Azad University, Qom Branch, Qom, Iran

4 Assistant Professor, Department of Management, Faculty of Humanities, Hazrat Masoumeh University of Qom, Qom, Iran

Abstract

The main purpose of this study is to investigate the mediating role of strategic foresight in the relationship between relationship marketing and reducing customer churn . This research is applied based on the purpose and descriptive-survey based on the nature of the method. The statistical population of the study includes all senior and middle managers of commercial banks in Arak, which are 280 people, 170 of whom were selected using simple random sampling method. The data collection tool is a standard questionnaire. To examine the validity of the questionnaire, the content validity and validity of the structure were used and to evaluate the reliability, Cronbach's alpha coefficient and combined reliability were used. Visual PLS software has been used to analyze the data. The results showed that relational marketing has a positive and significant effect on reducing customer churn and strategic foresight. Strategic foresight has a positive and significant effect on reducing customer churn. The mediating role of the strategic foresight variable in the relationship between relationship marketing and customer churn has also been confirmed. The results of the study indicate that relationship marketing is effective in reducing customer curn, and this impact increases despite the strategic foresight variable. In other words, the implementation of relational marketing and its indicators by banks can prevent customers from churn. Successful implementation of relationship marketing creates a sense of trust and satisfaction in customers and customers will be loyal to the bank. Loyal customers will not be able to easily turn around or fall.

Keywords

References

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Geography (Regional Planning)
Volume 11, Issue 44
September 2021
Pages 537-552

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