AI and intelligent machines are fast substituting the human element in production and delivery of goods and services in all sectors of the economy. In banking, the human factor played by relationship officers is challenged as most relationship management functions are being migrated to alternative channels and platforms. Is this the end of relationship officers in the delivery platform mix? This research asked customers in a Nigerian bank, their perceptions concerning the extent of satisfaction they received from the bank’s engrained service culture relative to the satisfaction they derived from the individual style and quality of the relationship officers that work for the bank. Using averages and structural equation modelling, this research provided, with reliability and validity, evidence that the customers placed more premium on the relationship officers than the entire bank’s platform of systems and processes. The significance of this result is that banks must evaluate critically the pace, mix and timing, of their migration strategy of relationship management roles from relationship officers to alternative channels and platforms.
| Published in | International Journal of Finance and Banking Research (Volume 4, Issue 1) |
| DOI | 10.11648/j.ijfbr.20180401.11 |
| Page(s) | 1-12 |
| Creative Commons |
This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited. |
| Copyright |
Copyright © The Author(s), 2018. Published by Science Publishing Group |
Relationship Officers, Relationship Quality, Culture, Alternative Channels and Platforms, Customer Satisfaction
| [1] | Ajzen, I. (2002). Perceived Behavioral Control, Self-Efficacy, Locus of Control, and the Theory of Planned Behavior. Journal of Applied Social Psychology, 32 (4), 665-683. |
| [2] | Ajagbawa, H. O. (2016). Behaviors of rural and urban customers towards retail banking services. (Ph.D. Dissertation). Retrieved from www.academia.edu/.../Behaviors_of_rural_and_urban_customers_towards_retail_banki... |
| [3] | Athanasopoulou, P. (2009). "Relationship quality: a critical literature review and research agenda", European Journal of Marketing, 43 (5/6), 583-610. |
| [4] | Avery, J., Fournier, S., & Wittenbraker, J. (2014). Unlock the mysteries of your customer relationships. Harvard Business Review, 92 (7/8), 72-81. |
| [5] | Benamour, Y., & Prim-Allaz, I. (2010). Transactional versus Relational Customer Orientation: Developing a Segmentation Tool in the French Banking Industry An exploratory study. 7th Relationship Marketing Colloquium: Delivering Value Out Of Bounds, Nov 1999, Glasgow, UK. |
| [6] | Bishop, G. F., Oldendick, R. W., & Tuchfarber, A. J. (1985). The Importance of Replicating a Failure to Replicate: Order Effects on Abortion Items. Public Opinion Quarterly, 49 (1), 105-114. |
| [7] | Bobbio, A., Sarrica, M. (2009). Horizontal and vertical individualism and collectivism: an Italian adaptation of singelis et al. scale and its relations with conflict management and leadership styles. TPM 16 (4), 209-226. |
| [8] | Collett, J. L. (2011). (Re) Integrating Simmel in Contemporary Social Exchange: The Effect of Nonpartisans on Relational Outcomes. Social Forces, 90 (2), 617-637. |
| [9] | Crosby, A., Evans, K. R., & Cowles, D. (1990). Relationship quality in services selling: An Interpersonal Influence Perspective. Journal of Marketing, 54 (3), 68-81. |
| [10] | Dimitriadis, S., Stevens, E. (2008)."Integrated customer relationship management for service activities: An internal/external gap model", Managing Service Quality: An International Journal, 18 (5), 496–511. |
| [11] | Dong, Y. & Peng, C. J. (2013). Principled missing data methods for researchers. Springer Plus 2013, 2:222. Retrieved from http://www.springerplus.com/content/2/1/222 |
| [12] | Field, A. P. (2005) Discovering statistics using SPSS (2nd Edition) chapter 5. Retrieved from http://www.statisticshell.com/docs/reliability.pdf |
| [13] | Gordon, C., Lin, J., Cave, R., & Dandrea, R. (2015). The Question of Data Integrity in Article-Level Metrics. DOI: 10.1371/journal.pbio.1002161 |
| [14] | Goffin, K. (1998) Customer support distribution channels: five exploratory case studies. Retrieved from https://core.ac.uk/download/pdf/139922.pdf. |
| [15] | Groysberg, B., Ashish, N., and Nitin, N (May 2004). The Risky Business of Hiring Stars. Retrieved from https://hbr.org/2004/05/the-risky-business-of-hiring-stars. |
| [16] | Hair, J. F., Black, W. C., Barry, J. B., & Rolph, E. A. (2013). Multivariate Data Analysis. Seventh Edition. Pearson ISBN 13::978-1-292-02190-4. |
| [17] | Herold, D., & Fedor, D. (2008). Change- The way to lead change. ISBN. |
| [18] | Hofstede, G. (2011). Dimensionalizing Cultures: The Hofstede Model in Context. Online Readings in Psychology and Culture, 2 (1). http://dx.doi.org/10.9707/2307-0919.1014. |
| [19] | Hooper, D., Coughlan, J., and Mullen, M. R. (2008). Structural Equation Modelling: Guidelines for Determining Model Fit. Electronic Journal of Business Research Methods, 6 (1), 53-60. |
| [20] | Huang, Ching-Hsu. (2013). Mediating effect of relationship quality on customer loyalty in franchising beverage store. African Journal of Business Management Vol. 7 (35), 3381-3393. DOI: 10.5897/AJBM11.933. |
| [21] | Hughes, J. P. & Mester, L. J. (2008). Efficiency in Banking: Theory, Practice, and Evidence. Retrieved from http://fic.wharton.upenn.edu/fic/papers/08/0825.pdf. |
| [22] | Keen, M., Kaushik, R., Bhogal, K. S., Agbara, A., Simmons, S., DuLaney, R., Dube, S., and Allison, A. (2009). Red Paper. IBM Banking industry framework. Retrieved from http://www.redbooks.ibm.com/redpapers/pdfs/redp4467.pdf. |
| [23] | Kearney, A. T. (2009). The five forces shaping the banking industry: Preparing for the Economic recovery. Retrieved from https://www.atkearney.com/documents/10192/296636/Five_Forces_Shaping_Banking.pdf/9a0bcd47-8572-4dba-9aa1-8ec204ffbeac. |
| [24] | Kittemann, F., Göttl, M., Gabriel, A., Menrad, K. (2008). Comparison of customer satisfaction in different types of distribution channels of horticultural products in Austria and Bavaria Paper prepared for presentation at the First Symposium on Horticulture in Europe (SHE) 17th to 20th February 2008 at Vienna/Austria held under the aegis of ALVA, APH, BNL-SHS, DGG, GSHS, IOH, INRA, NJF, PSHS, SECH, SOI and the International Society for Horticultural Science. |
| [25] | Kourkounasiou, M. A., & Skordilis, E. K. (2014). Validity and reliability evidence of the TOCA-C in a sample of Greek students. Psychological Reports, 115 (3), 766-783. |
| [26] | Leedy, P.D., & Omrod, L. E. (2013). Practical research: Planning and design. (10th Ed.) New Jersey, USA. Pearson. ISBN:13-978-0-13-269324-0. |
| [27] | Levine, R. (2005) Finance and Growth: Theory and Evidence. NBER Working Paper No. 10766. Issued in September 2004. NBER Program(s): CF EFG IFM. Retrieved from http://www.nber.org/papers/w10766. |
| [28] | Lilien, G. L., and Grewal, R. (Ed) (2012). Handbook on Business to Business Marketing ISBN: 9781 84980 142 3. Retrieved from https://books.google.com.ng/books?id=nSiEQYBan18C&printsec=frontcover&source=gbs_vpt_buy#v=onepage&q&f=false. |
| [29] | Lu, L., Bentler, P. M (2009). Cutoff criteria for fit indexes in covariance structure analysis: Conventional criteria versus new alternatives. Structural Equation Modeling: A Multidisciplinary Journal, 6 (1). DOI: 10.1080/10705519909540118. |
| [30] | Martin, A. R., Pearson, J. D., Cai, B., Elmer, M. Horgan, K., and Lindley, C. (2003). Assessing the impact of chemotherapy-induced nausea and vomiting on patients' daily lives: a modified. Supportive care in cancer, 11 (8), 522-527. |
| [31] | McAuley, J., Duberley, J., and Johnson, P. (2007). Organization Theory Challenges and Pers--pectives Pearson Education Limited, Edinburgh Gate, UK. ISBN-13: 978-0-273-68774-0. |
| [32] | Palmatier, R. W., Dant, R. P., Grewal, D., & Evans, K. R. (2006). Factors Influencing the Effectiveness of Relationship Marketing: A Meta-Analysis. Journal of Marketing 70 (4), 136–153. |
| [33] | Phil, G. (March 2, 2011) Question Order Matters. Survey Science. Survey Monkey Blog. Retrieved from https://www.surveymonkey.com/blog/2011/03/02/question-order-matters/. |
| [34] | Podsakoff, P. M., MacKenzie, S. B., Lee, J. Y., & Podsakoff, N. P. (2003). Common method biases in behavioral research: A critical review of the literature and recommended remedies. Journal of Applied Psychology, 88 (5), 879-903. doi: 10.1037/0021-9010.88.5.879. |
| [35] | Samaha, S. A., Beck, J. T., & Palmatier, R. W. (2014). The Role of Culture in International Relationship Marketing. Journal of Marketing, 78 (September 2014), 78-98. |
| [36] | Saunders, J. A., Morrow-Howell, N., Spitznagel, E., Dori, P., Proctor, E. K., & Pescarino, R (2006). Imputing Missing Data: A Comparison of Methods for Social Work Researchers. Social work research, 30 (i), 19-31. |
| [37] | Schlomer, G. L., Bauman, S., & Card, N. A. (2010) Best Practices for Missing Data Management in Counseling Psychology. Journal of Counseling, 57 (1), 1–10. |
| [38] | Singh, P. (2014). Branch banking to virtual banking -utilization of direct banking channel in indian banking sector. European Journal of Accounting Auditing and Finance Research Vol.2, No.8, pp.1-8, October 2014. |
| [39] | Sivadas, E., Bruvold, N. T., & Nelson, M. R. (2008). A reduced version of the horizontal and vertical individualism and collectivism scale: A four-country assessment. Journal of Business Research 61 (2008) 201–210. doi: 10.1016/j.jbusres.2007.06.016. |
| [40] | Spain, E., Groysberg, B (2016). Managing People: Making Exit Interviews Count. Harvard Business Review. April 2016 Issue p.88-95. |
| [41] | Steel, P., & Taras, V. (2010). Culture as a consequence: A multi-level multivariate meta-analysis of the effects of individual and country characteristics on work-related cultural values. Journal of International Management 16 (3) 211–233. |
| [42] | Su, L. (2014). Understanding psychological contract breach in the customer-firm Relationship (Ph.D. Dissertation) Iowa state University. Retrieved from lib.dr.iastate.edu/cgi/viewcontent.cgi? article=4832&context=etd. |
| [43] | Wan, W. W. N., Luk, C., Fam, F., Wu, P., & Chow, C. W. C. (2012) Interpersonal relationship, Service Quality, Seller Expertise: How Important Are They to Adolescent Consumers? Psychology and Marketing, 29 (5): 365–377. DOI: 10.1002/mar.20527. |
| [44] | Wan, W. W. N., Luk, C., Yau, O. H. M., Tse, A. C. B., Sin, L. Y. M., Kwong, K. K., & Chow, R. P. M. (2009). Do Traditional Chinese Cultural Values Nourish a Market for Pirated CDs? Journal of Business Ethics, 88:185–196. DOI 10.1007/s10551-008-9821-1. |
| [45] | Wernerfelt, B. (2013). Small forces and large firms: Foundations of the RBV Small forces and large firms: Foundations of the RBV. Strategic Management Journal, 34 (6), 635-643. |
| [46] | Yagil, D., & Luria, G. (2015). Customer forgiveness of unsatisfactory services: manifestation and antecedents. Doi: 10.1007/s11628-015-0282-1. |
APA Style
Henry Ajagbawa. (2018). The Importance of Relationship Officers in Banks’ Service Marketing. International Journal of Finance and Banking Research, 4(1), 1-12. https://doi.org/10.11648/j.ijfbr.20180401.11
ACS Style
Henry Ajagbawa. The Importance of Relationship Officers in Banks’ Service Marketing. Int. J. Finance Bank. Res. 2018, 4(1), 1-12. doi: 10.11648/j.ijfbr.20180401.11
AMA Style
Henry Ajagbawa. The Importance of Relationship Officers in Banks’ Service Marketing. Int J Finance Bank Res. 2018;4(1):1-12. doi: 10.11648/j.ijfbr.20180401.11
Share This Article
Twitter
Linked In
Facebook
Copy
Download@article{10.11648/j.ijfbr.20180401.11,
author = {Henry Ajagbawa},
title = {The Importance of Relationship Officers in Banks’ Service Marketing},
journal = {International Journal of Finance and Banking Research},
volume = {4},
number = {1},
pages = {1-12},
doi = {10.11648/j.ijfbr.20180401.11},
url = {https://doi.org/10.11648/j.ijfbr.20180401.11},
eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijfbr.20180401.11},
abstract = {AI and intelligent machines are fast substituting the human element in production and delivery of goods and services in all sectors of the economy. In banking, the human factor played by relationship officers is challenged as most relationship management functions are being migrated to alternative channels and platforms. Is this the end of relationship officers in the delivery platform mix? This research asked customers in a Nigerian bank, their perceptions concerning the extent of satisfaction they received from the bank’s engrained service culture relative to the satisfaction they derived from the individual style and quality of the relationship officers that work for the bank. Using averages and structural equation modelling, this research provided, with reliability and validity, evidence that the customers placed more premium on the relationship officers than the entire bank’s platform of systems and processes. The significance of this result is that banks must evaluate critically the pace, mix and timing, of their migration strategy of relationship management roles from relationship officers to alternative channels and platforms.},
year = {2018}
}
TY - JOUR T1 - The Importance of Relationship Officers in Banks’ Service Marketing AU - Henry Ajagbawa Y1 - 2018/03/02 PY - 2018 N1 - https://doi.org/10.11648/j.ijfbr.20180401.11 DO - 10.11648/j.ijfbr.20180401.11 T2 - International Journal of Finance and Banking Research JF - International Journal of Finance and Banking Research JO - International Journal of Finance and Banking Research SP - 1 EP - 12 PB - Science Publishing Group SN - 2472-2278 UR - https://doi.org/10.11648/j.ijfbr.20180401.11 AB - AI and intelligent machines are fast substituting the human element in production and delivery of goods and services in all sectors of the economy. In banking, the human factor played by relationship officers is challenged as most relationship management functions are being migrated to alternative channels and platforms. Is this the end of relationship officers in the delivery platform mix? This research asked customers in a Nigerian bank, their perceptions concerning the extent of satisfaction they received from the bank’s engrained service culture relative to the satisfaction they derived from the individual style and quality of the relationship officers that work for the bank. Using averages and structural equation modelling, this research provided, with reliability and validity, evidence that the customers placed more premium on the relationship officers than the entire bank’s platform of systems and processes. The significance of this result is that banks must evaluate critically the pace, mix and timing, of their migration strategy of relationship management roles from relationship officers to alternative channels and platforms. VL - 4 IS - 1 ER -
Information
Email: