Relationship Marketing and Customer Satisfaction of Commercial Banks in Kenya

Abstract

Commercial banks have to be of superlative standard and devoted to excellence in relationship marketing to piece a major role in customer satisfaction. Relationship marketing develops long-term relationships and improves corporate performance through customer loyalty and customer retention. The study sought to evaluate the effect of relationship marketing on customer satisfaction of commercial banks in Kenya. The study was anchored on the commitment-trust theory. The study was guided by the positivist philosophy and adopted the explanatory research design. The target population was the 39 commercial bank customers in Kenya with a sample of 602 customers. The study used a structured questionnaire as the data collection instrument. Structural equation modeling was used to ascertain the relationship between the various variables. The study found that relationship marketing had a positive and statistically significant relationship with customer satisfaction of commercial banks in Kenya. The study recommends that banks should invest in building rapport with customers by providing customer-tailored services, providing a platform where customers can share compliments and complaints, and responding instantly to customer inquiries and issues.