Customer Loyalty and its Determinants in Banking Industry: A Study in Madurai City

Abstract

The Banking Industry is highly competitive, complex and in dynamic environment. It has led to a great transformation in the industry. The traditional product-oriented bank is becoming increasingly customer-oriented in accordance with the basic principles of relational marketing, which focuses on customer loyalty as its main goal. In this sense, Gilmore (1997) considers that constant customer oriented behaviour is a requisite for improving the implementation of quality in services marketing. In this sense, Barnes and Howlett (1998) argue that, given that many financial services are parity offerings, it can be stated that a customer is unlikely to be overly impressed by core product attributes when all companies are providing similar offerings.