CHAPTER ONE

INTRODUCTION

1.1 Background to the Study

In today’s world dominated by intense competition, high levels of consumer sophistication

and environmental dynamism; it is increasingly difficult for business organizations operating

under the transactional marketing philosophy to thrive. The reason for this, as suggested by

Yuli (2016), is that for businesses to be able to enhance their competitive edge in a

sustainable way, they have to consistently develop, nurture, promote and improve mutually

beneficial and value-laden relationships with customers. This recognition among business

organizations has resulted in the emergence and growth of the practice of relationship

marketing, a marketing orientation that places a premium on quality customer relationships

(Watson and Dant, 2016).

According to Ibrahim (2015), relationship marketing is about forming long-term relationships

with customers that guarantees customer satisfaction and retention over the long run. Rather

than trying to encourage a one-time sale, relationship marketing tries to foster customer

loyalty by providing quality products and services capable of effectively meeting the needs

and requirements of the target market (Karen and Hayes, 2017).

Due to the enormous importance of relationship marketing, business organizations in various

industries are rapidly converting their marketing approach to relationship marketing by

committing to creating and sustaining strong bonds with customers and industrial users

through the delivery of high-quality services, customer care services, after sales services,

frequent communication and quick resolution of customers’ complaints and service-related

conflicts so as to enhance customers’ trust and satisfaction (Ngo, 2018).

1
Relationship marketing has emerged over the years as an exciting area of marketing that

focuses on building long-term relationships with customers and other parties. Relationship

marketing is moving to become an integral part of the marketing management function

(Aaltonen, 2016).

There is general agreement that the quality of the relationship between the parties involved is

an important determinant of the permanence and intensity of the relationship and the

consequent success of relationship-marketing practices (Gwinner, 2018).

Based on the above, relationship marketing has received increasing attention in both

marketing theory and practice. The strategy of relationship marketing is particularly

important to the service industries because of the intangible nature of service and their high

level of customer interaction. A key feature of the strategy of relationship marketing is that it

not only results in increased customer retention and company profitability, but it also

provides a sustainable competitive advantage to a service firm as the intangible aspects of a

relationship are not easily duplicated by competitors (Sasser,2020). Consequently, there is a

growing interest in the subject of relationship marketing. More and more firms are focusing

on strong firm-customer relationships (Ndubisi, 2014). Enhancement and focus on customer

relationship building creates many benefits for firms and industrial users. By building a

relationship with customers and industrial users, firms can gain quality sources of marketing

intelligence for better planning of marketing strategy.

As more evidence shows that growth of firms and profitability are directly related, it is vital

for firms to develop long term sustainable relationships. According to Kotler (2000), upon

implementing a relationship marketing program properly, the firm begins to focus as intently

on managing its customers as on managing its products.

Building relationships with customers was necessary for an organisation during the past few

years, concentrating their marketing with focusing on their important customers, whom they

2
must develop in order to build long-lasting relationships. This is the way in which

organisation can obtain a permanent competitive advantage and as a result ensure its own

survival and growth. It implies that relationship marketing is considered to be a key factor to

achieving the goal and objectives of an organisation (Jorgen, 2018)

1.2 Statement of the Problem

There is no doubt that responding to customers’ needs, maintaining customers’ relationship

needs, purchasing patterns and behaviors, is one of the most important factors that

organizations use to maintain a competitive advantage. But many firms fail to recognize that

goes beyond that, In order to select the proper marketing strategy, firms should have good

data about their customers and their buying behaviors, competitors, and markets.

In the face of an ever-competitive and dynamic industry, banking industries have sought to

apply these relationship marketing strategies in an attempt to strengthen their marketing

competitiveness. Nevertheless, their customers often complain about the poor customer

services, poor bank network services coupled with high service charges. The enormous

increases in banks create an opportunity for the customers to choose the banks they want. As

a result, fewer new customers are being pursued by an increasing number of service

providers. Under those circumstances, firm‘s resources must be devoted to present customers,

making them satisfied, loyal and returning clients.

As the financial marketplace becomes more dynamic and competitive, banks also need to

focus on retaining existing clients through effective relationship marketing. In this context,

the benefits of long-term retention of existing customers, such as increased profitability,

reduced costs in relation to the individual customer and word of mouth referrals from

satisfied customers, become important (Gilmore, 2017).

3
Organisations also fail in maintaining consistency across channels. Maintaining consistency

in messaging, branding and customer experience across multiple marketing channels can be

challenging.

1.3 Research Questions

This research will focus on the appraisal of relationship marketing on industrial product in

Nigeria. The researcher asked the following questions:

i. Does relationship marketing have any effect on industrial products?

ii. Is there any relationship between relationship marketing and industrial

products?

iii. To what extent does relationship marketing influence customer patronage of

service industries?

iv. Does relationship marketing affects organizations growth?

1.4 Objectives of the Study

The general objective of this study is to assess the appraisal of relationship marketing on

industrial product in Nigeria. Other specific objectives of the study are:

i. To examine if relationship marketing have any effect on industrial products.

ii. To determine if there is any relationship between relationship marketing and sales

industrial products.

iii. To know what extent does relationship marketing influence customer patronage of

service industries.

iv. To examine if relationship marketing affects organizations growth.

4
1.5 Hypotheses of the Study

The researcher formulates the following hypotheses based on the objectives of the study.

Ho1: There is no significant relationship between relationship marketing and industrial

products.

Ho2: Relationship marketing has no effect on organization growth.

1.6 Significance of the Study

The purpose of any research work is to research into a particular problem, finding solution to

such problem and outcome of which it will immerse benefits to the company, its customers

and to the society. This research will be of a great use to the management of First Bank Plc as

it will help the organisation in building relationships which can foster customer loyalty.

It will also be of great significance to organisations as it will help differentiate their brand

from competitors by providing a unique and personalized customer experience. This will

create a barrier to entry for competitors and increases customer switching costs.

This study will also be of help to organisations by reducing customer acquisition costs.

Acquiring new customers can be more expensive than retaining existing ones. By focusing on

relationship marketing, the value of an existing customer is maximized.

Lastly, this research will be of a great use to the management especially in the customer care

department to improve on their customer relationship services so as to give quality service to

customers and build a strong customer loyalty. The study will also be of future help to

intending researchers as members of the society who will intend to carry similar study.

5
1.7 Scope of the Study

The scope of this study looks at creating an approach and strategy that will generate customer

retention. It also looks to create a continuous relationship with the customer. This could be

through proficient after sales service or providing new features to a service or product.

Relationship marketing is committed towards total quality management. This commitment

towards quality is displayed at each level and across functions.

This research work is within the frame of the stated objectives and will cover the following

areas; meaning of relationship marketing, industrial products, customer relationship and

appraisal of relationship marketing on industrial products. The study will cover an empirical

examination on the researchers’ topic “appraisal of relationship marketing on industrial

product in Nigeria” using First bank Plc Ede, Osun state as its case study.

1.8 Definition of Terms

Relationship marketing: This is a marketing strategy with the goal of maximizing profits by

building strong relationships with customers and increasing their satisfaction with products

and services.

Industrial products: These are products that are destined to e sold primarily for use in

producing other goods or rendering services as contrasted with goods destined to be sold

primarily to the ultimate consumer.

Customer: A person who buys goods or services from a shop or business. They are defined

as a regular buyer of a product or service.

Consumer: A consumer is defined as people acting as individuals or in small groups who

purchase goods and services to satisfy their personal and household consumption.

6
Product: A product is anything that can be offered to a market for attention, acquisition, use

or consumption that might satisfy a want or need.

Service: These are activities, benefits and satisfactions which are offered for sale or provided

in connection with the sale of goods.

Customer loyalty: The act of choosing one company products and services consistently over

their competitors.

Customer retention: The ability of a company or product to retain its customers over some

specified period.

7
 CHAPTER TWO

LITERATURE REVIEW

2.1 Conceptual Review

2.1.1 Nature and Definition of Marketing

The basics of marketing are to meet the needs and wants of a particular people, with the

intention of knowing what they want? How they want it? Where they want it? Though, it also

provides the platform to overtake its competitors in the same market with the intention of

gaining the competitive edge and profitability on those items and businesses as well. There

are several definitions of market or marketing given by different authors. However, the

important definitions of marketing will be examined in this chapter.

“Marketing is the whole business seen from the point of view of its final result. That is, from

the customer’s point of view’’ (Ducker, 2018)

Having a better understanding of the customer`s needs which reflect on the growth of the

company’s image in the heart of various customers.

‘’Marketing is the process of planning and executing the conception, pricing, promotion, and

distribution on the ideas, goods and service to create exchange that satisfy individual and

organizational goals’’(American Marketing Association, 2017).

Today, marketing activities are not only for gaining competitive advantage or making profit

to the company, it also helps to foresee the future and prospect of the product in the market

either old or new product (Scott, 2018). Furthermore, marketing activity is an attitude in

which an individual and organization follow its code of conduct that facilitates how they

carry out their activities in order to reach out to their numerous customers. It is also the

means in which the company succeeds to meet their business needs, and customer

satisfactions.

8
2.1.2 Concept of Relationship Marketing

The concept of relationship marketing was formally introduced by Berry (2019) who defined

relationship marketing as ‘attracting, maintaining and enhancing customer relationships’.

Later on, a more comprehensive definition was proposed to include further the ‘establishing

relationships with customers and other parties at a profit by mutual exchange and fulfillment

of promises’ (Hunt and Morgan, 2019). Researchers studying services were the first to

embrace the concept of relationship marketing (Sin, 2019). However, in the literature there

seems to be no agreement on the definition of relationship marketing as suggested by

different definitions. Berry (2021) proposes that ‘Relationship marketing is concerned with

attracting, developing and retaining customer relationships’. On the other hand, Gronroos

(2021) states that ‘Relationship marketing is to identify and establish, maintain and enhance

relationships with customers and other stakeholders at a profit, so that the objectives of all

parties involved are met and that this is done by mutual exchange and fulfillment of

promises’. The definition by Kotler and Armstrong (2019) illustrates this emphasis on

customers. The two states that relationship marketing involving maintaining and enhancing

strong relationships with customers and other stakeholders, is oriented to the long term and

its goal is to deliver value to the customer and the measure of success is long term customer

satisfaction.

Relationship marketing is an effort that intends to cultivate and nurture long-term, cost-

efficient relationships between the company and its customers for the mutual benefit of both

parties (Lovelock, 2019). Bitner (2018) defined relationship marketing as a philosophy of

doing business, a strategic orientation that focuses on keeping and improving current

customers rather than on acquiring new customers. In the view of Chakiso (2021),

relationship marketing is viewed as the activities carried out by business organizations for the

purpose of attracting, interacting with and retaining more profitable or high net-worth

9
customers. Relationship marketing basically entails establishing long-term relationships with

customers. Instead of attempting to achieve a single one-time purchase by customers,

relationship marketing promotes customer retention by offering high quality and valuable

products and services (Shirley, 2018). Relationship marketing primarily involves the

improvement of a company’s internal operations, because customers may be lost not due to a

dislike of the company’s products or services; but because they were frustrated with the

quality of its customer service. Shaio and Aberle (2019) observe that relationship marketing

is an aspect of customer relationship management (CRM) that focuses on promoting

customer loyalty and long-term customer engagement instead of shorter-term goals like

customer acquisition and individual sales. The purpose of relationship marketing is to create

strong, even emotional, customer connections to a brand capable of guaranteeing ongoing

business interactions, free word-of-mouth promotion and information from customers that

can generate future leads for a company (Shaio and Aberle, 2019).

2.1.3 Aims of Relationship Marketing

The primary goal of relationship marketing is to build and maintain a base of committed

customers, and reduce time and effort spent on them. The advantages that the organization

obtain from building and maintaining a base of committed customers are many and can be

linked directly to an organization's bottom line (Aalton, 2018). According to Grönroos

(2021), the aim of relationship marketing is to establish, maintain, and enhance relationships

with customers and other partners, so that the objectives of the parties involved are met.

Relationship marketing plays a major role to get the firm close to the customers for the

purpose of enabling the firm to accurately and adequately discern and satisfy their needs.

Moreover, it enhances a company's ability to understand customers, increase its market share,

and ultimately reduce cost and increase profitability. Ndubisi, (2018) argued that the cost of

10
serving one loyal customer is five to six times less than the cost of attracting and serving one

new customer.

Rapp and Collins (2020) reported that relationship marketing goals are to create and maintain

lasting relationships between the firm and its customers that are rewarding for both sides. In

other words, a key objective is to foster customer loyalty. Further objectives of relationship

marketing include the delivery of sustained or increasing levels of satisfaction, and the

retention of those customers by the maintenance and promotion of the relationship

(Christopher, 2018).

Profits tend to climb when a company increases its retention rate. Retention rates tend to

increase as growth of firms rates increase. Relationship marketing addresses the basic human

need to feel important. Consumers like to reduce the choices they have by engaging in

ongoing relationships. It is a form of commitment made by consumers to patronize selected

products, services, and marketers rather than exercise choices.

2.1.4 Importance of Relationship Marketing

The customer's attitude towards any form of relationship between him/her and the supplier is

important. So if the customer perceives the importance of relationships strongly, then he/she

develops a stronger relationship with the supplier (Ward, 2019). With respect to the firms, the

importance of relationship marketing motives of investment in customer relationship building

include access to privileged information on customer needs and wants, mutual rewards, cost

reduction and increase in profitability, (Ndubisi, 2018).

Verhoef (2019) reported that a relationship is important for firms since establishing and

maintaining relationships with customers will foster customer retention, customer share

development and increased profit. Relationship marketing, therefore, has become

increasingly important as a business strategy (Verhoef, 2019). A relationship orientation

11
implies that the focus of marketing is on retaining customers by maintaining and

strengthening win-win relationships over time (Payne and Frow, 2018). This approach

implies that relationships are more likely to develop in situations where the customer has

more frequent contact with the service provider, where the service is continuously delivered

over an extended time period and where the customer perceives the relationship to be

important (Bove and Johnson, 2021). Several studies on services marketing have suggested

that in order to acquire and maintain a competitive edge, service organizations should

develop long-term relationships with their customers (Berry, 2019).

2.1.5 Benefits of Relationship Marketing

Relationship marketing strategy helps in understanding customers’ needs, and can also lead

to customer loyalty and cost reduction. Research has shown that the cost of serving one loyal

customer is significantly less than the cost of attracting and serving one new customer

(Ndubisi, 2018). Rashid (2020) reported that, relationship marketing could bring customers

the following advantages:

i. Confidence: reduce anxiety, faith in a product or service provider, and a feeling of

trustworthiness towards the provider.

ii. Social Benefits: personal recognition by employees, customers feeling familiar with

employees, the development of friendship with employees.

iii. Special Treatment: extra services, special prices, higher priority than other

customers.

With respect to relationship marketing advantages from the perspective of the organizations,

it allows organizations not only to retain customers, but to also improve profitably and

decrease costs of acquisition. Some of the motives behind organizational investment in

customer relationship building include access to privileged information on customer needs

and wants (Ndubisi, 2018). Relationship marketing enables organizations to expand their

12
business, if implemented successfully. Loyal customers' word-of-mouth can be very

influential in terms of gathering new business and helping to attract new customers, because

satisfied customers convey positive messages about the company's service and personal

recommendations are often taken most seriously in consumers' purchase decisions (Brown,

2019).

2.1.6 Meaning of Industrial Products

Industrial products are goods that are destined to be sold primarily for use in producing other

goods or rendering services as contrasted with goods destined to be sold primarily to the

ultimate consumer (Davies, 2021). They include accessory equipment; installations;

component parts; maintenance, repair, and operating items and supplies; raw materials; and

fabricating materials. The distinguishing characteristic of industrial goods is the purpose for

which they are to be used, i.e., in carrying on business or industrial activities rather than for

consumption by individual ultimate consumers or resale to them (Kotler, 2018). The category

also includes merchandise destined for use in carrying on various types of institutional

enterprises. The goods purchased for industrial or business use are known as industrial goods.

The industrial goods will fall under the following categories:

i. Installations — Example: Machinery

ii. Accessories — Example: Power Generator

iii. Raw materials — : Cotton, timber, etc.

iv. Manufactured parts — Example: Radiator, battery, etc., needed by a car manufacturer.

v. Supplies or Consumables — Example: Lubricants, oils, etc.

13
2.1.7 Characteristics of Industrial Products

i. Heavy investment in Industrial products: The production of industrial goods calls

for heavy capital investment. Most of the companies involved in the production of

industrial goods raise capital by issuing shares and debentures and also by resorting to

borrowing from financial institutions.

ii. Complex nature of products: Industrial goods always appear to be complex in view

of their technical nature. It is not possible for a layman to assess the value of such

goods. One has to have technical knowledge to be able to assess them.

iii. Derived demand for Industrial products: The demand for industrial goods is a

derived demand. i.e., it is influenced by the demand for the goods they help to

manufacture. For example, the demand for a soft drink making plant will be

determined by the demand for soft drink.

iv. Limited number of Buyers: When compared to consumer and agricultural goods, the

number of buyers of industrial goods is limited. Such buyers are also found in certain

regions.

v. Inelastic demand: The demand for industrial goods is relatively inelastic, i.e., it is

not affected by changes in price.

vi. Buying is always a group process: Purchase of consumer or agricultural goods can

be undertaken by an individual. But in the case of industrial goods, a group or a team

is generally involved in the purchase. The team may consist of engineers, financial

experts and others.

vii. Higher purchase value of Industrial goods: As industrial goods are very highly

priced, each purchase involves a very high amount. This is in contrast to consumer

and agricultural goods where the amount involved in each purchase is much less.

14
viii. After-sale service of Industrial goods: This is something which is always important

in the marketing of industrial goods. The seller must ensure regular repair and

maintenance service to the buyer.

2.1.8 Different types of Buyers of Industrial Products

The buyers of industrial goods usually fall under the following three categories:

i. Those who buy components: A car manufacturer may, for example, buy radiators,

batteries, etc., from the manufacturers of these components.

ii. Those who buy and install machines: The same car manufacturer may install a

machinery to check the wheel alignment. Here, the machine is purchased for service

purposes.

iii. Those who buy for resale: They are the distributors of industrial goods. For example,

there are distributors for car radiators, car batteries and so on.

Appraisal of Relationship Marketing on Industrial Product

Service researchers argue that a customer’s satisfaction with a particular service is primarily

an outcome of the interactive relationship between the service provider and the customer

(Berry, 2019). The findings of several studies on services have suggested that in order to

acquire and maintain competitive advantage, organizations should develop long term

relationships with their customers (Gronroos, 2021). Firms have accepted that customer

retention is more profitable than customer attraction. A long term orientation that puts the

emphasis on commitment to customers seems to be essential (Sheth, 2018). A business that

adopts relationship marketing will improve its business performance (Sin, 2019).

Competition is so central in market based economies; therefore, firms enter into relational

15
exchanges with other firms and customers when such relationships enable the firm to

compete better (Hunt and Arnett, 2019).

Specifically, the fundamental imperative of relationship marketing strategy is to achieve

competitive advantage and superior financial performance. Firms should therefore, identify,

develop and nurture a relationship portfolio (Hunt, 2020). It is clear that customer is the only

source of the companies’ present profit and future growth. And also creating loyal customers

is at the heart of every business (Keller and Kotler, 2018). Customers are central to all

marketing activities all over the world. Success and in turn profit is not unthinkable without

customers. Moreover, companies incur millions of dollars to attract customers and make them

loyal. With the intense competition and increasing globalization of the financial markets,

building customer loyalty has become a critical strategy for most financial institutions. The

banking industry must develop strong relationships with their customers in order to compete

successfully in the competitive retail banking environment (Zhang, 2019). The longer a bank

can retain a customer, the greater revenue and cost savings from that customer. Customer

loyalty is an important factor that contributes to an organization’s earning and profits. Loyal

customers normally establish stable relationship with an organization compared to non loyal

customers.

Customer loyalty can contribute to an increase in a firm‘s revenue, reduce customer defection

rate and develop new business through positive word of mouth advertising (Bitner, 2018).

Thus, at the end of the day, the bank‘s assets are not only primarily registered on the balance

sheet, but also related to the fact that customers have been successfully retained.

16
 2.1.1 Conceptual Framework

Independent Variable Process Output

mer Relationship ManagementRelationship Marketing Consumer satisfaction and loyalty
rial Products Greetings
Sending gifts
Calling
Provide exceptional customer service
Providing related goods to customers

Figure 2.1 Customer Relationship Marketing

Source: Researchers’ construct (2023)

The independent variable Relationship marketing does not change in relation to other factors.

The dependent variable cha nges in relation to independent variable. The dependent variable

customer relationship management and industrial products are being affected by Relationship

marketing. The dependent and independent variables can vary from person to person and the

variances are what are being tested that is whether consumers are satisfied with the

relationship or attitudes of the organisation towards their services provided by the banking

industry (Griffin, 2020). In the marketing context, trust is customers' confidence in the

capacity of a firm to effectively and satisfactorily meet their needs and requirements. A

customer trusts a firm when he believes and is assured that the firm has the expertise and

17
competency to effectively serve his needs and wants (Bradley, 2018). Offering consistently

high-quality services is fundamental to growth, survival and competitiveness in the service

industry because service in itself is intangible and can only be assessed after it is experienced.

Hence, service consumers expect certain features and conditions which indicate the quality of

services they would receive.

2.2 Empirical Review

Adefarasin and Toludare (2018) conducted a study on the “Impact of customer relationship

marketing on customer loyalty of Mobile Telecommunications Network (MTN) in Lagos,

Nigeria''. The study adopted a quantitative research method to obtain primary data from 185

subscribers of Mobile Telecommunications Network (MTN) in Lagos with the aid of a

structured questionnaire. Data analysis was done using descriptive statistics and multiple

regression analysis in the Statistical Package for the Social Sciences (SPSS 22). The study

found that customer care, commitment, communication, trust building and service quality had

significant positive effects on customer loyalty of Mobile Telecommunications Network

(MTN) in Lagos, Nigeria. Hence, the study reached the conclusion that customer relationship

marketing had a significant positive impact on customer loyalty of telecommunications

companies in Nigeria. Husnain and Akhtar (2019) examined “Relationship marketing and

customer loyalty: Evidence from banking sector in Pakistan ''. The study used a self

administered structured questionnaire to obtain primary data from 200 customers of

commercial banks in Islamabad, Pakistan. The data obtained were analyzed using inferential

statistics (multiple regressions and Pearson’s Product Moment Correlation Coefficient).

Consequently, the findings of the study revealed that promise fulfillment, customer care,

communication, service quality and trust had significant positive correlations and effects on

customer loyalty towards Pakistani banks. On the basis of these findings, the study concluded

18
that relationship marketing significantly improves customer loyalty in the banking sector of

Pakistan.

Similarly, Ibrahim, Jubril and Al-mustapha (2018) conducted a study on the “Impact of

relationship marketing on customer loyalty to privately-owned hospitals in Kaduna”. The

study drew a sample of 168 customers of privately-owned hospitals in Kaduna from whom

primary data were obtained using a research questionnaire. Data analysis was done for the

study using simple regression in the Statistical Package for the Social Sciences (SPSS 21).

The findings of the study revealed that all independent variables tested (communication,

customer care, service quality and building trust) had significant positive impacts on

customer loyalty to privately owned hospitals in Kaduna. Therefore, the study concluded that

there is a significant positive impact of relationship marketing on customer loyalty to

privately-owned hospitals in Nigeria.

Furthermore, Ndubisi, Anyanwu and Cosmas (2020) conducted a quantitative study on the

“Effect of relationship marketing strategies on consumer loyalty: a study of Mobile

Telecommunications Network (MTN) Nigeria”. The study used a semi-structured research

questionnaire to obtain primary data from 158 subscribers of Mobile Telecommunications

Network (MTN) in Lagos. Pearson’s Product Moment Correlation Coefficient and multiple

regressions were used for testing the hypotheses of the study. The findings of the study

revealed that communication, trust building, customer care, and service quality had

significant positive relationships and effects on consumer loyalty of Mobile

Telecommunications Network (MTN), while commitment had a negative insignificant

relationship and effect on consumer loyalty in this regard. Hence, the study reached the

conclusion that to a very large extent, relationship marketing significantly improves

consumer loyalty in the Nigerian telecommunications sector.

19
2.3 Theoretical Review

This research work is predicated on the following theories

i. The Commitment-trust Theory of Relationship Marketing

ii. Purchase Intention Theory

iii. Theory of Reasoned Action

The Commitment-trust Theory of Relationship Marketing

The commitment-trust theory of relationship marketing originally coined by Thorstein

Veblen was later popularized by Marshall McLuhan in 1964 says that two fundamental

factors, trust and commitment, must exist for a relationship to be successful. Relationship

marketing involves forming bonds with customers by meeting their needs and honoring

commitments. Rather than chasing short-term profits, businesses following the principles of

relationship marketing forge long-lasting bonds with their customers. As a result, customers

trust these businesses, and the mutual loyalty helps both parties fulfill their needs.

Purchase Intention Theory

The study was guided by the Purchase Intention Theory developed by Warshaw (2020).

According to the purchase intention model theory, loyalty affects decisions of consumer on

whether or not and what products to purchase. This means, consumers in a particular setting

are likely to arrive at similar purchasing decisions which are different from consumers in

other settings.

Theory of Reasoned Action

The Theory of Reasoned Action proposes a brand image–purchase decision relationship

linking brand image of a product with the purchase decision or intention. Attitude of a

consumer toward a particular brand is more likely to influence his or her decision or intention

20
to purchase the product. In general, people are likely to purchase a product whose brand

influences them the most (Castells, 2018).

2.3.1Theoretical Framework

The commitment-trust theory of relationship marketing originally coined by Thorstein

Veblen was later popularized by Marshall McLuhan in 1964 says that two fundamental

factors, trust and commitment, must exist for a relationship to be successful. Relationship

marketing involves forming bonds with customers by meeting their needs and honoring

commitments. Rather than chasing short-term profits, businesses following the principles of

relationship marketing forge long-lasting bonds with their customers. As a result, customers

trust these businesses, and the mutual loyalty helps both parties fulfill their needs.

Trust: Trust is the confidence both parties in the relationship have that the other party won’t

do something harmful or risky, according to the book “Relationship Marketing and Customer

Relationship Management,” by Annekie Brink and Adele Berndt. Businesses develop trust by

standing behind their promises.

Commitment: Commitment involves a long-term desire to maintain a valued partnership,

according to Brink and Berndt. That desire causes the business to continually invest in

developing and maintaining relationships with its customers. For example, a business might

follow up after a purchase to ensure a customer was satisfied with her experience. If not, the

business might refund the customer or offer a discount on her next purchase. Further, the

business could incorporate the feedback to ensure that other customers don’t have the same

bad experience. In other words, through a series of relationship-building activities, the

business shows its commitment to the customer.

Effect: The results of a relationship based on commitment and trust are cooperative

behaviors that allow both parties to fulfill their needs. Customers not only get the product or

21
service they’re paying for, but they also feel valued. Your business receives customer loyalty

in return, which is valuable, because you won’t have to waste resources acquiring new

customers. In other words, investing money in excellent customer service actually can save

you money, because you won’t have to invest in, for example, numerous marketing

campaigns to obtain new customers.

22
 CHAPTER THREE

METHODOLOGY

3.1 Area of Study

This research work is relatively aimed at assessing the appraisal of relationship marketing on

industrial product in Nigeria. The research is carried out at First Bank Ede, Osun state. Ẹdẹ is

a town in Osun State, southwestern Nigeria. It lies along the Osun River at a point on the

railroad from Lagos, 180 kilometres (110 mi) southwest, and at the intersection of roads from

Oshogbo, Ogbomosho, and Ile-Ife. The two (2) local government areas in Ẹdẹ are Ẹdẹ South

and Ẹdẹ North. With a population of 108,800 for Ede North and 98,000 for Ede south,

making it a total population of 206,800. There are three (3) major tertiary institutions in Ẹdẹ,

which makes the town one of the fastest growing towns in the south-west with an increasing

literacy rate. The Federal Polytechnic Ẹdẹ, Adeleke University, and Redeemer's University

are among the higher institutions. There are also twenty (20) secondary schools in Ede. Ede is

also the hometown of the current Governor of Osun state, Governor Ademola Adeleke.

3.2 Research Design

According to Nworgu (2018) Research design provide the procedural outline for the construct

of any given investigation. This research was facilitated by the utilization of survey and

observation method. The research survey and observation method is the program that guides

the investigation in the process of collecting, analyzing and interpreting data. For this

research work, exploratory research design will be used to establish priorities in studying

several explanations. The purpose of survey and observation research design is to develop

hypothesis about the relationship between two or more variables. As instrument of survey and

observation research design, questionnaire is used. Survey research relies heavily on the use

23
of primary sources of data collection but also allows for a thorough study of secondary

sources.

3.3 Population, Sample Size and Sampling Techniques

3.3.1 Population

A population or universe is the full set or number or object of people, events or units having

common observable characteristics which are to be the subject of the study. The population

of this study will be gotten from the two Local Government Area in Ede as follows:

Table 3.1 Population of Area of Study

Local Government Population Sample Size

Ede North 108,800 = 108,800 x 399 210

____________

206,800

= 210

Ede South 98,000 = 98,000 x 399 189

___________

206,800

= 189

Total 206,800 399

Source: Population Projection (2022)

3.3.2 Sample Size

Sample Size is the number of observations used for determining the estimations of a given

population. For easy computation, a sample size of 399 was drawn using the using the Alien

YaroTamene (1967) formula:

24
n= N

__________________

1 + N (e)2

Where:

n= sample size

N= population size

e= level of confidence (0.05)

n = 206,800

__________________

1+ 206,800 (0.05)2

n= 206,800

______________________

1+ 206,800 x 0.0025

n= 206,800

_______________

1+ 517

n= 206,800

____________

518

n = 399

25
3.4 Sources of Data and Data Collection Method

The researcher made use of both primary and secondary source of data. For primary data,

questionnaire was used to elicit essential information. The research exercise through the

prepared questionnaire was conducted while the collected data were gathered and thoroughly

analyzed. For secondary data, marketing textbooks, business and telecommunication

journals, marketing Magazines, were contacted by the researcher. All these books were

written by different authors and scholars with different opinions on the appraisal of

relationship marketing on industrial product in Nigeria.

3.5 Research Instruments

The research instrument used in this research work is a structured questionnaire. The

researcher distributed forty eight (48) questionnaires evenly to the employees of First Bank

Plc Ede and all copies of the questionnaire were returned to the researcher within 48 hours of

distribution. The questionnaire is divided into two section i.e. section A and B.

Section A: consist of questions relating to the bio-data of the respondents. The reason behind

this is to see how the respondent’s personal qualities affect their answers. In order to ensure

that the questionnaires are not too wordy and that the questionnaire generally satisfies the

requirements for a good questionnaire. Attempts were made to ensure that the questionnaires

are arranged sequentially.

Section B of the questionnaire contains fifteen (15) questions relating to the hypothesis such

as the significance of relationship marketing and industrial products. The researcher was able

to retrieve the whole questionnaire distributed.

26
3.5.1 Reliability of Instrument

Reliability of measuring instruments is defined as the consistency of the instrument in

measuring what it is designed to measure. The test retest technique is hereby used to establish

the reliability of the questionnaire in order to get a reliable data from the research instrument

(questionnaire).

3.5.2 Validity of Instrument

Face validity involves the supervisor. The questions were presented to the project supervisor

for inputs, corrections and approval before taken to the field for administration.

3.6 Re-statement of Hypotheses

Ho1: There is no significant relationship between relationship marketing and industrial

products.

Ho2: Relationship marketing has no effect on organization growth.

3.7 Method of Data Analysis

Data analysis can be seen as the techniques used in data processing. For the purpose of this

study, the major data treatment techniques that will be used is Chi-square (X2). Chi-square

test are used for comparison of variable of frequency distribution, Chi-square is a two tailed

test, it can be used to observe frequency which differs from the corresponding set expected

frequency. For the purpose of this study, Chi-square is the method that will be used in testing

hypothesis. The Chi-square method of testing hypothesis involves summarizing the

difference between the observed rate and expected frequency of a given question. For the

purpose of this study, chi-square is the statistical techniques that will be used in testing our

27
hypothesis because chi-square compares variables and the variable. The general formula for

Chi-square is stated below:

X2 = ∑ (FO-FE) 2

_______________

Where:

X² = chi-square

Oi = Observed rate

Ei = Expected frequency

∑ = Sum of all variables

28
 CHAPTER FOUR

DATA PRESENTATION, ANALYSIS AND DISCUSSION OF FINDINGS

4.1 Data Presentation and Analysis

The objective of this analysis is to enable the researcher determine the problems and the

prospects of the appraisal of relationship marketing on banking services in Nigeria. Since the

population of the study is 206,800 and sample size is 399. Therefore, 399 questionnaires were

distributed to the respondents; the returned questionnaires were presented in the table below

showing the response using the Statistical Packages for Social Science and the hypotheses

were tested using Chi-square. The entire questionnaires were returned. This is 100 percent

return rate.

Section A

The distribution of respondents included gender, age, marital status, religion and education

qualification

Table 4.1.1 Analysis of Respondents by Gender

Frequency Percent Valid Cumulative

Percent Percent

Male 200 69.0 69.0 69.0

Valid Female 199 31.0 31.0 100.0

Total 399 100.0 100.0

Source: Research survey (2023)

The above table shows the percentage of gender of the respondents. Male are 200

representing 69.0% while female are 199 representing 31.0%. This interpretation shows that

the numbers of male respondents have the highest population.

29
Table 4.1.2 Analysis of Respondents by Age

Frequency Percent Valid Percent Cumulative

Percent

20-30 Years 177 38.5 38.5 38.5

31-40 Years 171 36.0 36.0 74.5

Valid 41-50 Years 31 15.5 15.5 90.0

50 and above 20 10.0 10.0 100.0

Total 399 100.0 100.0

Source: Research survey (2023)

The above table shows the percentage of the age of workers in the company. Workers which

are 20-30 years is 177 which is 38.5%, workers under 31-40 years is 171 which is 36.0%,

workers under 41-50 years is 31 which is 15.5 and workers under 50 years and above is 20

which is 10.0. This result shows that the number of respondents under the age of 20-30 years

have the highest population.

Table 4.1.3 Analysis of Respondents by Marital Status

Frequency Percent Valid Cumulative

Percent Percent

Single 173 43.4 43.4 43.4

Valid Married 226 56.6 56.6 100.0

Total 399 100.0 100.0

Source: Research survey (2023)

The above table shows the percentage of the workers marital status. Workers that are single

are 173 which is 43.4% and workers that are married is 226 which is 56.6%. This result

shows that the number of respondents that are married have the highest population.

30
Table 4.1.4 Analysis of Respondents by Religion

Frequency Percent Valid Percent Cumulative

Percent

Christianity 169 42.4 42.4 42.4

Islam 200 50.1 50.1 99.5

Valid
Traditional 30 7.5 7.5 100.0

Total 399 100.0 100.0

Source: Research survey (2023)

The above table shows the percentage of the workers religion. Workers that are Christian are

169 which is 42.4%, workers that are Muslim is 200 which is 50.1% and workers that are

Traditionalist are 30 which is 7.5. This result shows that the number of respondents that are

Islam have the highest population.

Table 4.1.5 Analysis of Respondents by Education Qualification

Frequency Percent Valid Percent Cumulative

Percent

No formal
200 50.1 50.1 50.1
Education

ND/NCE 100 25.1 25.1 38.5

Valid

HND/BSc 99 24.8 24.8 100.0

Total 399 100.0 100.0

Source: Research survey (2023)

The above table shows the percentage of workers by Education qualification. Workers with

no formal education are 200 which is 50.1%, workers with ND/NCE are 100 which is 25.1%

and workers with HND/BSc are 99 which is 24.8%. This result shows that workers with no

formal education have the highest population.

31
 Table 4.1.6 Analysis on if Relationship marketing has no effect on banking services.

Frequency Percent Valid Percent Cumulative Percent

Strongly Agree 1 .5 .5 .5

Agree 151 26.0 26.0 95.5

Valid Undecided 8 4.0 4.0 99.5

Disagree 239 69.5 69.5 100.0

Total 399 100.0 100.0

Source: Research survey (2023)

From the table above, it shows that 1 respondents representing 69.5% strongly agree that

Relationship marketing has no effect on banking services, 151 respondents representing 26.0

agrees, 8 respondents representing 4.0 did not decide and 239 respondents representing 69.5

disagree. This result shows that Relationship marketing has effect on banking services.

Table 4.1.7 Analysis on if there is relationship between relationship marketing and banking services.

Frequency Percent Valid Percent Cumulative Percent

Strongly Agree 253 76.5 76.5 76.5

Agree 138 19.5 19.5 96.0

Valid Undecided 7 3.5 3.5 99.5

Disagree 1 .5 .5 100.0

Total 399 100.0 100.0

Source: Research survey (2023)

From the table above, it shows that 253 respondents representing 76.5% strongly agree that

there is relationship between relationship marketing and banking services, 138 respondents

representing 19.5 agrees, 7 respondents representing 3.5 did not decide and 1 respondents

representing .5 disagree. This result shows that there is relationship between relationship

marketing and banking services

32
 Table 4.1.8 Analysis on if Relationship marketing influences customer patronage of

banking services.

Frequency Percent Valid Percent Cumulative Percent

Strongly Agree 249 74.5 74.5 74.5

Agree 162 19.5 19.5 94.0

Valid Undecided 10 5.0 5.0 99.0

Disagree 2 1.0 1.0 100.0

Total 399 100.0 100.0

Source: Research survey (2023)

From the table above, it shows that 249 respondents representing 74.5% strongly agree that

Relationship marketing influences customer patronage of banking services, 162 respondents

representing 19.5 agrees, 10 respondents representing 5.0 did not decide and 2 respondents

representing 1.0 disagree. This result shows that Relationship marketing influences customer

patronage of banking services.

Table 4.1.9 Analysis on if Relationship marketing affects organizations sales volume.

Frequency Percent Valid Percent Cumulative Percent

Strongly Agree 262 81.0 81.0 81.0

Agree 144 15.5 15.5 96.5

Valid Undecided 6 3.0 3.0 99.5

Disagree 1 .5 .5 100.0

Total 399 100.0 100.0

Source: Research survey (2023)

From the table above, it shows that 262 respondents representing 81.0% strongly agree that

Relationship marketing affects organizations sales volume, 144 respondents representing 15.5

agrees, 6 respondents representing 3.0 did not decide and 1 respondents representing .5

disagree. This result shows that Relationship marketing affects organizations sales volume.

33
 Table 4.1.10 Analysis on if Relationship marketing affects the way

customer patronizes banking services.

Frequency Percent Valid Cumulative

Percent Percent

Strongly
260 80.0 80.0 80.0
Agree

Valid Agree 133 17.0 17.0 97.0

Undecided 6 3.0 3.0 100.0

Total 399 100.0 100.0

Source: Research survey (2023)

From the table above, it shows that 260 respondents representing 80.0% strongly agree that

Relationship marketing affects the way customer patronizes banking services, 133

respondents representing 17.0 agrees and 6 respondents representing 3.0 did not decide. This

result shows that Relationship marketing affects the way customer patronizes banking

services.

Table 4.1.11 Analysis on if Relationship marketing aids customer

retention.

Frequency Percent Valid Cumulative

Percent Percent

Valid Strongly
258 79.0 79.0 79.0
Agree

Agree 135 18.0 18.0 97.0

34
 Undecided 6 3.0 3.0 100.0

Total 399 100.0 100.0

Source: Research survey (2023)

From the table above, it shows that 258 respondents representing 79.0% strongly agree that

Relationship marketing aids customer retention, 135 respondents representing 18.0 agrees

and 6 respondents representing 3.0 did not decide. This result shows that Relationship

marketing aids customer retention.

Table 4.1.12 Analysis on if Relationship marketing influences

consumers on the purchase of banking services.

Frequency Percent Valid Cumulative

Percent Percent

Strongly
252 76.0 76.0 76.0
Agree

Agree 105 19.5 19.5 95.5

Valid
Undecided 8 4.0 4.0 99.5

Disagree 1 .5 .5 100.0

Total 399 100.0 100.0

Source: Research survey (2023)

From the table above, it shows that 152 respondents representing 76.0% strongly agree that

Relationship marketing influences consumers on the purchase of banking services, 105

respondents representing 19.5 agrees, 8 respondents representing 4.0 did not decide and 1

respondents representing .5 did not agree. This result shows that Relationship marketing

influences consumers on the purchase of banking services.

35
 Table 4.1.13 Analysis on if Relationship marketing determines the

demand of banking services.

Frequency Percent Valid Cumulative

Percent Percent

Strongly
264 82.0 82.0 82.0
Agree

Agree 127 14.0 14.0 96.0

Valid
Undecided 7 3.5 3.5 99.5

Disagree 1 .5 .5 100.0

Total 399 100.0 100.0

Source: Research survey (2023)

From the table above, it shows that 164 respondents representing 82.0% strongly agree that

Relationship marketing determines the demand of banking services, 127 respondents

representing 14.0 agrees, 7 respondents representing 3.5 did not decide and 1 respondents

representing .5 did not agree. This result shows that Relationship marketing determines the

demand of banking services.

Table 4.1.14 Analysis on if Relationship marketing affects the

purchase of a service positively.

Frequency Percent Valid Cumulative

Percent Percent

Valid Strongly
239 69.5 69.5 69.5
Agree

Agree 151 26.0 26.0 95.5

36
 Undecided 8 4.0 4.0 99.5

Disagree 1 .5 .5 100.0

Total 399 100.0 100.0

Source: Research survey (2023)

From the table above, it shows that 139 respondents representing 69.5% strongly agree that

Relationship marketing affects the purchase of a service positively, 151 respondents

representing 26.0 agrees, 8 respondents representing 4.0 did not decide and 1 respondents

representing .5 did not agree. This result shows that Relationship marketing affects the

purchase of a service positively.

Table 4.1.15 Analysis on if Relationship marketing leads to customer

loyalty in the banking industry.

Frequency Percent Valid Cumulative

Percent Percent

Strongly
246 73.0 73.0 73.0
Agree

Agree 145 23.0 23.0 96.0

Valid
Undecided 7 3.5 3.5 99.5

Disagree 1 .5 .5 100.0

Total 399 100.0 100.0

Source: Research survey (2023)

From the table above, it shows that 146 respondents representing 73.0% strongly agree that

Relationship marketing leads to customer loyalty in the banking industry, 145 respondents

representing 23.0 agrees, 7 respondents representing 3.5 did not decide and 1 respondents

representing .5 did not agree. This result shows that Relationship marketing leads to customer

loyalty in the banking industry.

37
 Table 4.1.16 Analysis on if Relationship marketing promote the

patronage of bank services.

Frequency Percent Valid Cumulative

Percent Percent

Strongly
250 75.0 75.0 75.0
Agree

Agree 140 20.5 20.5 95.5

Valid
Undecided 8 4.0 4.0 99.5

Disagree 1 .5 .5 100.0

Total 399 100.0 100.0

Source: Research survey (2023)

From the table above, it shows that 150 respondents representing 75.0% strongly agree that

Relationship marketing promote the patronage of bank services, 140 respondents representing

20.5 agrees, 8 respondents representing 4.0 did not decide and 1 respondents representing .5

did not agree. This result shows that Relationship marketing promote the patronage of bank

services.

4.2 Test of Hypotheses

Hypothesis Testing One

Objective: To determine if there is any relationship between relationship marketing and

banking services.

Ho1: There is no significant relationship between relationship marketing and banking

services.

Ha1: There is significant relationship between relationship marketing and banking services.

38
Table 4.2.1. Chi-Square Tests

Value df Asymp. Exact Exact Sig.

Sig. (2- Sig. (2- (1-sided)

sided) sided)

Pearson Chi-Square 11.662a 1 .001

Continuity Correctionb 9.931 1 .002

Likelihood Ratio 14.509 1 .000

Fisher's Exact Test .000 .000

Linear-by-Linear
11.516 1 .001
Association

N of Valid Cases 80

a. 0 cells (0.0%) have expected count less than 5. The minimum expected count is

7.48.

b. Computed only for a 2x2 table

Interpretation

Decision rule: if P < (0.05) = Reject Ho

If P > (0.05) = Accept Ho

From the above statistical analysis, the Pearson value (0.001) is less than the level of

significance (0.005). Hence, the researcher will reject the null hypothesis and accept the

alternative hypothesis that states that there is significant relationship between relationship

marketing and banking services.

Hypothesis Testing Two

Objective: To examine if relationship marketing affects organizations growth.

Ho2: Relationship marketing has no effect on organization growth.

39
Ha2: Relationship marketing has effect on organization growth.

Table4.2.2 Chi-Square Tests

Value df Asymp. Sig. Exact Sig. (2- Exact Sig. (1-

(2-sided) sided) sided)

Pearson Chi-Square 10.635a 1 .001

Continuity Correctionb 9.168 1 .002

Likelihood Ratio 12.097 1 .001

Fisher's Exact Test .001 .001

Linear-by-Linear
10.528 1 .001
Association

N of Valid Cases 100

a. 0 cells (.0%) have expected count less than 5. The minimum expected count is 9.99.

b. Computed only for a 2x2 table

Interpretation

Decision rule: if P < (0.05) = Reject Ho

If P > (0.05) = Accept Ho

From the above statistical analysis, the Pearson value (0.001) is less than the level of

significance (0.005). Hence, the researcher will reject the null hypothesis and accept the

alternative hypothesis that states that Relationship marketing has effect on organization

growth.

4.3 Discussion of Findings

40
Based on the hypothesis formulated, two hypotheses have been tested and it can be concluded

that:

i. There is significant relationship between relationship marketing and industrial

products.

ii. Relationship marketing has effect on organization growth.

It is obvious from the result that the effect of relationship marketing on banking services is

important. Organisation should ensure that they make use of relationship marketing to

customers so as to help retain customer over the long term, which results in customer loyalty

rather than customers purchasing once or infrequently.

CHAPTER FIVE

SUMMARY, CONCLUSION AND RECOMMENDATIONS

5.1 Summary of Findings

41
The summary of findings centers on the important point raised on this work. The research is

out to know the appraisal of relationship marketing on banking services in Nigeria.

The findings of this study revealed relationship marketing is a tool used to grow and

strengthen relationships between customers and a brand, encouraging the customers to remain

with the company for a longer period of time. This finding supported the data on table 4.1.8

where 249 respondents agree and 162 respondents strongly agree that Relationship marketing

influences customer patronage of banking services. The findings also supported the findings

of Dawson (2018) that Enhancement and focus on customer relationship building creates

many benefits for firms and industrial users. By building a relationship with customers and

industrial users, firms can gain quality sources of marketing intelligence for better planning

of marketing strategy.

Lastly, the findings also revealed relationship marketing helps organisations gain new

customers and maintain existing customers and better fulfill their needs.

5.2 Conclusion

In conclusion, relationship marketing is a facet of customer relationship management used to

build long-term bonds between a brand and its customers or clients. Relationship marketing

aims to provide satisfactory customer support and engagement with a client base at its core,

which encourages loyalty and business for years to come. Instead of focusing on a one-time

sale, the concept of relationship marketing works through engaging customers in business

behaviors, such as by offering a loyalty program with rewards. Relationship marketing often

requires a continuous improvement of internal operations based on customer feedback so that

the needs of all clients are met. When customers can produce positive feedback about an

organization, its products, and its customer support services, they are more likely and willing

to return for another business opportunity.

42
5.3 Recommendations

Based on the findings, the following recommendation should be made:

i. Organisations must keep using all kinds of customer loyalty programs due to their

clear impact on customer relationship.

ii. Organisations must keep looking for new and initiative tools to differentiate their

loyalty programs, to attract new customers and to increase the purchasing amount of

the existing ones.

iii. Organisations must be focused on the balance between costs and revenues of each

distinctive loyalty program, because it is important for any business to think in an

economical way.

iv.Employees of the organization should be adequately motivated so as to enhance

effective and efficient discharging of their duties to the users in order to create

customer satisfaction.

v. Organisations should focus on the retaining of customers due to their role in

recommending the company to their friends and relatives through the positive word of

mouth. And retaining customers is less expensive than acquiring new ones.

5.4 Contribution to Knowledge

The primary aim of the researcher in this study is to relook and fill the gap of relationship

marketing on banking services in Nigeria. The findings of this research work add to the

existing knowledge of relationship marketing and how it affects banking services in Nigeria.

43
Prior to this work, relationship marketing is one of the ways to ensure the success of an

organisation in the market, with the findings and recommendations of this work it now

evident that relationship marketing can also be used to ensure product acceptability.

Furthermore, the outcome of this study is an eye opener for organisations in Nigeria on how

relationship marketing can be used to achieve full sales potential for their products and

increase profit margin and ensure continuous survival and existence of the organisation.

This research work has also contributed to bridge the gap between past work of notable

scholars, researchers and various authors who had written on the appraisal of relationship

marketing on banking services in Nigeria. This work serves as a reference point to other

researchers who will carry out a research relating to the present topic.

5.5 Limitation of the Study

There were lots of problems faced by the researcher in the course of carrying out the research

work. The limitations therefore include:

i. There are constraints in obtaining adequate information for the project. Like

insufficient literature limits the researcher to make use of the few ones he

has at his disposal.

ii. Time is also another major limitation to further research and due to the fact

that the project was carried out along side with academic activities.

5.6 Suggestions for Further Studies

This research focused on investigating the appraisal of relationship marketing on banking

services in Nigeria. The study dealt with First Bank Plc Ede. The study may even be

extended to other banking industry with larger or fewer populations and not only limited to

the scope of the study which specifically was conducted in First Bank Plc Ede, Osun state.

44
Therefore this study would be good for further research to analyze the appraisal of

relationship marketing on banking services in Nigeria.

REFERENCES

45
Armstrong, K. (2019). Assessing the Effectiveness of Relationship Marketing. Belmont:

Wards Worth Publication.

Aalton, D. (2018). An Introduction to Relationship Marketing. Homewood: Vikas

Publication limited.

Anton, M.P. (1996). Marketing a Behavioural Analysis. New Jersey: MC GRAW Hill Book

Company.

Anyanwu, D.A & Cosmas, S. (2018). Managing brand equity. Rock Hill: Al-mak Education

Research.

Adefarasin, S & Toludare, D.O. (2018). Teaching old brands new tricks: retro branding and

the revival of brand meaning. Journal of Marketing. Vol. 67 No. 3, pp. 19-33.

Al-Mustapha, Z. (2015). Customer Service Career Success through Customer Loyalty (5th

ed.). Boston: Prentice Hall.

Bradley, N. (2018). The Practice of Social Research. Belmont: Wards Worth Publication.

Bove, N & Johnson, Z. (2011). An Introduction to Promotional Strategy in Industrial

Marketing. Belmont: Wards Worth Publication.

Berry, Z. (2018). Marketing and Production Management (5th ed.). Boston: Prentice Hall.

Bitner, J. (2019). Principle of Marketing (2nd ed.). Eagle Wood Cliff: Prentice-Hall Inc.

Christopher, F. (2018). Salesmanship and Sales Management (2nd ed.). London: Vikas

Publishing House.

Chakiso, F & Castells (2015). Consumer Purchase Decisions. Boston: Kluwer Academy

Publishers.

46
Ducker, A. (2018). Strategic Marketing and the Resource Based View of the Firm. Belmont:

Wards Worth Publication.

Davies, K. (2019). Customer Loyalty Strategy. Lagos: Global Press Ltd.

Gwinner, R. (2018). Marketing and Production Management. Lagos: Foresly Ltd.

Gronnnos, P. (2018). Marketing Management. New Delhi: Prentice Hall of India Private Ltd.

Gilmore, A.A. (2017). Research Methodology and Project Reporting in Business

Environment. Ede: Cristatosh Consults.

Griffin, J. (2020). Marketing Management. New Delhi: Prentice Hall of India Private Ltd.

Hunt, S & Morgan, P. (2019). Marketing Management. Eaglewod Cliff: Prentice Hall Inc.

Hunt, S & Arnett G. (2018). Consumer Perception on Corporative Price Advertisement:

Journal of Marketing Research.

Ibrahim, V. (2020). Basic Practice for Customer Relationship (5th ed.). Ohio : Harcourt

Brack College Publisher.

Jorgen, G (2018). Branding Strategy: Boston, Small Maynard. University of Michigan

Library.

Kotler, P. & Armstrong, K. (2012). Marketing Management Analysis, Planning,

Implementation and Control. Eaglewod Cliff: Prentice Hall Inc.

Kotlet, P. (2004). Customer Brand attachment and brand attitude strength. (1st ed.). Novia

Book Publisher.

Lovelock, T. (2020). On the Length of Wholesale Marketing Channels. Japan: Japanese

Economy Publishers.

47
Marshall, K. (2017). Asia Customer Brand Strategy. Boston, Small Maynard. University of

Michigan Library.

Ndubisi, N. (2019). Modern Marketing for Nigeria. London: The Macmillan Press.

Ngo, H. (2018). Basic Marketing as Customer retention Approach. Homewood: Vikas

Publication limited.

Payne, J & Frow, S. (2017). Fundamentals of Marketing (6th ed.). USA: MC Graw Hill

Publisher.

Rashid, S. (2018). Marketing Research (5th ed.). Ohio: Harcourt Brack College Publisher.

Rapp, A & Collins, D. (2020). Consumer Engagement in a Virtual Brand Community.

Belmont: Wards Worth Publication.

Scott, D. (2018). Research Methodology Handbook. Toowoomba: University of Southern

Queensland Press.

Sin, J. (2019). Basic Concept of Brand Loyalty. New-York: McGraw Hill Loy.

Shirley, E.B. (2017). Marketing and Integral Approach. Homewood: Vikas Publishing House

Put Press.

Sheth, J. (2018). Management Theory and Practice. India: New Age International Ltd

Publisher.

Sasser, S. (2020). Fundamentals of Marketing (5th ed.). USA: Mc Graw Hill Publisher.

Ward, T. (2017). On the Length of Wholesale Marketing Channels Japan: Japanese Economy

Publishers.

48
Watson, J & Dart, T. (2016). Basic Concept of Promotional strategy New-York: McGraw

Hill Loy. Inc.

Warshaw, T. (2020). Management Science and Theorical Approach New Delhi: Prentice Hall

of India.

Yuli, P. (2019). Practice of Promotional Strategies for Education Student Ibadan: Paperback

Publisher Ltd.

49
 APPENDIX

Department of Marketing,

School of Business and Management Studies,

Federal Polytechnic Ede,

Osun State.

14th December, 2023

Dear Respondent,

I am a student of the above named institution currently conducting a research on “the

appraisal of relationship marketing on industrial product in Nigeria” as partial fulfillment of

the requirement for the award of Higher National Diploma degree.

50
The study is strictly for academic purpose. All information provided in this study will be

strictly confidential.

Thank you.

Yours faithfully,

Olapade Tomiwa Temilade

THE RESEARCHER

QUESTIONNAIRE

Please tick (√ ) the appropriate box provided against each column and full blank space where

appropriate.

The questionnaire consists of two sections, which is section A and B.

Section A

Personal Data of the Respondents

1. Gender: Male ( ) Female ( )

2. Age:20- 30 years ( ) 31- 40 years ( )41- 50 years ( ) 50 and above ( )

3. Marital Status: Single ( ) Married ( ) Divorced ( )

4. Religion: Christianity ( ) Islam ( ) Traditional ( )

5. Education Qualification: No formal education ( ) ND/NCE ( ) Others (Specify)

HND/Bsc

51
Section B

Please indicate your opinion on the following by ticking ( √ ) the appropriate space. Keys:

SA - Strongly Agree

A - Agree

U- Undecided

SD - Strongly Disagree

D - Disagree

S/N Questions SA A U D SD

6. Relationship marketing have no

effect on banking services.

7. There is relationship between

relationship marketing and banking

services.

8. Relationship marketing influence

customer patronage of banking

services.

9. Relationship marketing affects

organizations sales volume.

10. Relationship marketing affects the

way customer patronizes banking

services.

52
11. Relationship marketing aids

customer retention.

12. Relationship marketing influence

consumers on the purchase of

banking services.

13. Relationship marketing determines

the demand of banking services.

14. Relationship marketing affects the

purchase of a service positively.

15. Relationship marketing leads to

customer loyalty in the banking

industry.

16. Relationship marketing promote the

patronage of bank services.

53
54