RELATIONSHIP MARKETING IN BANKING SECTOR – A COMPARISON BETWEEN PUBLIC AND PRIVATE BANKS

Abstract

Relationship marketing is a broad idea that is crucial for improved competition in the current day. Berry coined the phrase "relationship marketing" in 1983. Numerous studies and discussions on relationship marketing, as well as the difficulties and significant problems that service providers have in retaining their clientele, were later carried out. In order to comprehend the current state of relationship marketing in both public and private banks, this article aims to provide an overview of the impact of relationship marketing on the banking industry. The findings indicate that individuals interact with public banks the most because they are more reliable. Therefore, the private sector has to focus more on relationship quality strategies. However, our research indicates that both the public sector banks are more trustworthy and people deals most in public banks. Hence, private sector has to pay more attention towards the relationship quality tactics. But from our study it is concluded that both the sector pay equal attention and customers are equally satisfied from both the banks i.e. public and private.