Relationship marketing and customer retention: An empirical investigation in banking sector, Sri Lankan context

The purpose of this study is to discuss the impact of relationship marketing on customer retention in banking sector. The customer retention in banking sector has seen a major concern to practitioners due to severe competition andhighercustomerexpectations. Relationshipmarketinghas been measuredthrough the indicators such as trust, bonding, reciprocity, empathy and responsiveness. Findings revealed that, Relationship marketing contributes significantly to customer retention and also there is a significant mean different in customer retention among different educational background. This research focuses on banking services in one particular district of the country; therefore further research in other sectors may be necessary before generalization can be made on the entire service industry. Based on the finding of the study, there are few key points that can be used to recommend policy makers, scholars and bankers in the field of banking and finance. In this view points, Researchers suggested that, banking sector should come up with proper attractive schemes regarding to the customer relationship marketing and customer retention.