Abstract:
During the past years, the traditional transaction approach to
marketing has been challenged and relationship marketing is suggested as a
better option. Relationship marketing has changed the focus of marketing to
a new direction from short term orientation to a long term perspective.
Because of the increasing competition, practitioners have again changed the
business philosophy from relationship marketing to relationship marketing
orientation to compete effectively giving to their customers a little bit higher
than expected. In that manner, they found, branding as a powerful tool that
can be used to differentiate their products and services from their
competitors. Normally service organizations, especially the banking sectors
are relationship oriented and mainly focus on customer retention and long
term relationship with buyer–seller. Because of the high competition,
organizations are seeking to have the relationship marketing as a competitive
advantage perspective. In order to enjoy competitive advantage,
organizations are concentrating on developing competencies that help firms
to satisfy their customer wants and needs more effectively and efficiently
than competitors. The general objectives of this research is to identify the
impact of relationship marketing orientation (RMO) on brand equity and to
examine the existing Relationship Marketing Orientation (RMO) in both
public and private licensed commercial banks, Sri Lanka. A conceptual
model has been developed to link RMO and brand equity. Questionnaire was
used to collect data from 1000 household customers, that they have been
selected from 100 licensed commercial banks that comprised of public and
private based on non probability sampling method (quota sampling method).
Multiple regression, one sample t-test and independent sample t-test
has been used for the analysis. Findings revealed that there is a positive and
significant impact of RMO on brand equity in Sri Lankan licensed
commercial banks in Sri Lanka
