Relationship orientation or service quality? What is the trigger of performance in financial and insurance services?
Abstract
Purpose
The current work aims to analyze the complementary effects of relationship and service‐quality orientations on market and economic performance and their mediating role in the relationship between market orientation and performance.
Design/methodology/approach
In order to test the hypotheses proposed, an empirical analysis for financial and insurance companies was conducted.
Findings
The study reveals that market performance relates highly to relationship orientation and service quality as two alternative but complementary strategies, whereas the effect on economic performance is basically indirect through the market performance.
Practical implications
Results suggest that applying relational policies such as preferential treatment, communication and adaptation to customers' needs is critical for customer retention, reducing complaints and conflicts or improving the positioning. Moreover, the firms need to focus on quality service, as a consequence of relationship orientation and another requisite for market performance and, subsequently, economic performance.
Originality/value
This work integrates market orientation philosophy with relationship marketing and service quality as related drivers of the firm's performance. Few empirical works had related these concepts until now in this way.
Keywords
Citation
Camarero, C. (2007), "Relationship orientation or service quality? What is the trigger of performance in financial and insurance services?", International Journal of Bank Marketing, Vol. 25 No. 6, pp. 406-426. https://doi.org/10.1108/02652320710820354
Publisher
:Emerald Group Publishing Limited
Copyright © 2007, Emerald Group Publishing Limited