This study aims to review the published empirical research on relationship orientation in banking and insurance services. The objective of the study is to understand whether a strong customer–sales representative relationship contributes to sales effectiveness and to know the significance of relational behaviors in developing and maintaining long-term relationship.
Through Boolean search, a systematic review with narrative synthesis was conducted. Relevant electronic bibliographic databases and reference lists of pertinent review articles were searched. Screening and eligibility of articles were based on participants, interventions, comparisons, outcomes (PICO) model and PRISMA (Preferred Reporting Items for Systematic reviews) guidelines.
A total of 22 papers were finalized for the study, and results reveal that customer orientation behavior and adaptive selling behavior of sales representatives improve relationship quality, culminating in higher customer satisfaction, enhanced loyalty and escalated commitment, whereas selling orientation diminishes the relationship quality. The attributes of sales person especially contact intensity, contact frequency and client knowledge augment sales effectiveness and longstanding relationship with the customers.
This paper would provide valuable insights for financial sales representatives, academicians and practitioners of relationship marketing in the area of banking and insurance services. Personalization and customizations are important aspects of the provision of social benefits that strengthen competitive advantage.
Although the relevance of relationship marketing has been acknowledged, the conceptual base of relationship orientation in banking and insurance services has received only limited attention.
