The banking marketing mix and its role in customer relationship management: an analytical study in the international development bank

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The banking marketing mix and its role in customer relationship management: an analytical study in the international development bank

Abstract

This study aimed to demonstrate the nature of the correlational and influential relationship between the banking marketing mix and customer relationship management. The research variables were the banking marketing mix with its seven dimensions: service, price, promotion, distribution, individuals, process, and physical evidence as an independent variable, and customer relationship management with its three dimensions: customer satisfaction, customer loyalty, and customer value as a dependent variable. The research problem is answering the following question: Is there a role for the banking marketing mix in managing customer relationships? To what extent is the bank sample of the research interested in managing customer relationships? The International Development Bank was chosen as a site for implementing the research. The questionnaire form was adopted as a tool for collecting data, and the descriptive analytical approach was used to analyze the responses of the sample members. The research sample consisted of (43) responses from the bank’s employees. The data was analyzed using the statistical analysis program SPSS v.26. Some appropriate statistical tools were used to analyze the data in order to reach the results. The research showed a correlation between the banking marketing mix and customer relationship management. The results also showed that the International Development Bank seeks to localize the relationship of customers with the bank by relying on marketing mix tools, especially quality—service, and promotion in customer relationship management. The bank also pays great attention to the service providers and the general atmosphere within the bank to make the service experience comfortable and enjoy the customer’s satisfaction and interest, and to simplify the procedures in the processes of providing banking services to add value to the customer and improve the management of the relationship with them.

Muthanna Journal of Administrative and Economic Sciences, 2024,Volume 14, Issue 2, Pages 53-65

DOI:10.52113/6/2024-14-2/53-65

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