The Role of Relationship Marketing and Brand Love Among Banking Consumers in an Emerging Market Context

Jose Alberto Panduro-Ramirez, Miguel Angel Gallegos-Reyes, Miluska Villar-Guevara (), Elizabeth Emperatriz García-Salirrosas and Israel Fernández-Mallma
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Jose Alberto Panduro-Ramirez: EP de Administración, Facultad de Ciencias Empresariales, Universidad Peruana Unión, Lima 15102, Peru
Miguel Angel Gallegos-Reyes: EP de Administración, Facultad de Ciencias Empresariales, Universidad Peruana Unión, Lima 15102, Peru
Miluska Villar-Guevara: EP de Administración, Facultad de Ciencias Empresariales, Universidad Peruana Unión, Juliaca 21100, Peru
Elizabeth Emperatriz García-Salirrosas: Faculty of Management Science, Universidad Autonoma del Peru, Lima 15842, Peru
Israel Fernández-Mallma: EP de Educación, Facultad de Ciencias Humanas y Educación, Universidad Peruana Unión, Juliaca 21100, Peru

Administrative Sciences, 2024, vol. 14, issue 12, 1-17

Abstract: Relationship marketing is a concept that focuses not only on increasing the volume of relationship transactions, but also on improving consumer perception. Therefore, this research aimed to evaluate the influence of relationship marketing dimensions on brand love. An explanatory study was conducted considering 417 participants who confirmed their affiliation with a bank. Adults aged between 18 and 52 years participated in the study. Data were collected using a self-administered relationship marketing and brand love form, obtaining an adequate measurement model (α = between 0.842 and 0.908; CR = between 0.905 and 0.942; AVE = 0.679 and 0.845; VIFs = between 1.638 and 2.802). The theoretical model was evaluated using the Partial Least Squares Structural Equation Modeling (PLS-SEM) method. According to the results, the hypotheses were confirmed, demonstrating the positive influence of trust (β = 0.40), commitment (β = 0.08), communication (β = 0.12), and conflict management (β = 0.08) on brand love. These results demonstrated that trust, as a dimension of relationship marketing, guarantees a greater contribution to the structural model. The implementation of relationship marketing practices and strategies that emphasize trust by banks can strengthen brand love and foster developing markets in an emerging economy. Although previous studies have analyzed some factors that influence brand love, the topic has not been examined from a relationship marketing perspective, which provides valuable insights for the banking industry, stakeholders, academy, and leaders in business administration.

Keywords: relationship marketing; brand love; developing markets; trust; commitment; communication; conflict handling; PLS-SEM (search for similar items in EconPapers)
JEL-codes: L M M0 M1 M10 M11 M12 M14 M15 M16 (search for similar items in EconPapers)
Date: 2024
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