The Study on Application of Morgan and Hunt''s KMV Model in Banking''s Relationship Marketing

• Main Authors: Carol Hsieh, 謝孟欣
• Other Authors: 蕭至惠
• Format: Others
• Language: zh-TW
• Published: 2003
• Online Access: http://ndltd.ncl.edu.tw/handle/85639134040403473547

碩士 === 國立嘉義大學 === 管理研究所 === 91 === Based on the initial statistics of Directorate General Budget, Accounting and Statistics Executive Yuan, the proportion of service to GDP has a trend of expanding with the rise in economic level, which has reached 66.96% till 2001. Service industry has four characters, intangibility, inseparability, variability, and perishability, so we need some special tools and concepts to measure its characters. Relationship marketing is recommended as the strategy to overcome service intangibility (Berry, 1983), and may be appropriate for “credence” services, that is, services that are difficult for customers to evaluate even after purchases and use (Zeithaml, 1981). Banking is one kind of financial services, so it belongs to the service industry. After a careful observation, we find all transactions between banks and customers are associated with “people” and “money”. Money is a necessity in the daily life, and its position is not only important but also sensitive. A bank must have “people” worthy to trust by customers, and then customers would be willing to trade their “money” with banks. This is related to relationship marketing. Therefore, we think it is necessary to explore banking further. Moreover, in order to build a good “relationship” with customers, a seller needs to keep communicating and interacting with his customers in the long-term. Although nowadays most corporations in service industry put emphasis on “Upside-down Pyramid”, stressing the importance of front-line workers, because the front-line worker is the first person to touch customers. There is no denying that the positions of middle and top executives in every organization still have a critical effect. Middle and top executives’ main task is to lead an organization’s culture, and with their leading, the front-line workers know the direction to implement; on the other hand, the value of customers and businesses contacted by middle and top executives is higher than that contacted by the first line workers. Middle and top executives can bring considerable benefits to organizations by comparison. Therefore, we select middle and top executives as subjects. In order to research the application of relationship marketing in banking, the study is based on Morgan & Hunt’s（1994）Key Mediating Variables Model, uses “relationship commitment” and “trust” as key mediating variables, and increases two important variables, “expertise” and “benevolence”, in addition to these five original precursors, “relationship termination costs”, “relationship benefits”, “shared values”, “communication”, “opportunistic behavior”. We are trying to explore the effect of these seven precursors on the five outcomes, “acquiescence”, “propensity to leave”, “cooperation”, “functional conflict”, and “decision-making uncertainty”. According to these analysis results, we can obtain the study results below: 1. From the research population, we can infer that banking indeed practices relationship marketing. 2. The concept of KMV Model suits banking, and banks should strengthen assistants’ “expertise” and “benevolence” to obtain more customers’ trust and commitment. 3. Trust is the core factor of relationship marketing. 4. Relationship commitment can increase acquiescence and cooperation between bankers and customers. Key words: commitment-trust, KMV, relationship marketing, banking, middle-top executives.