The relationship marketing in the financial services industry : roles of trust, dependence and commitment

Abstract

Companies are nowadays recognising the importance of relationship marketing and the benefits of retaining existing customers rather than attracting new ones. This study analysed relationship marketing from a customer's perspective and particular attention was given to the financial services sector. It investigated the relationship among three core mediating variables ofrelationship marketing, namely trust, dependence and commitment. The existing literature and research on these three constructs and on relationship marketing was reviewed. A questionnaire was then sent to a sample of Crystal Finance Investments' clients to further investigate the relationship of the three variables from a consumer perspective. Trust was found to have a significant effect on commitment while dependence had a much lesser effect on commitment. Finally, the theoretical and managerial implications of the findings were discussed, as were further studies that could be conducted after this research.