The study analyzes the overall business orientation of Indian consumer banks by examining five important business philosophies, namely, production orientation, selling orientation, customer orientation, market orientation and relationship marketing orientation. It throws light on the extent to which each business orientation is followed by Indian banks. All the 39 branches of Jammu and Kashmir Bank Pvt. Ltd (JKB), 13 of State Bank of India (SBI) and 17 of Punjab National Bank (PNB) functioning in Jammu city respectively were contacted. The study found that Indian banks are purely customer oriented and had not yet fully implemented a market orientation philosophy. Moreover, they are not following relationship marketing philosophy, which is the need of the hour and it is imperative for banks to focus on developing long-term relationships with their customers. Further, the two business philosophies, namely, production orientation and selling orientation show insignificant impact on the overall business orientation of Indian banks. Therefore, bank management should concentrate equally on technology and an effective promotional mix. Moreover, they should rethink customer-oriented strategies according to the changing competitive environment and simultaneously think of a market orientation philosophy. Further, management should focus equally on four components of relationship marketing, namely, trust, commitment, loyalty and customer retention.
BendapuriN.BerryL.L. (1997). Customers’ motivations for maintaining relationships with service providers. Journal of Retailing, 73(1), 15–37.
5.
BerryL.L. (1983). Relational marketing. In BerryL.L.ShostackG.L.UphaG.D. (Eds), Emerging perspectives in service marketing (pp. 25–80) Chicago: American Marketing Association.
6.
BhattA. (1991). Bank marketing: Market research and Indian banks. Prajnan, 20(1), 45–54.
7.
BhattA. (1995). Study of market research in Indian banks, A Report. Pune: National Institute of Bank Management.
8.
BhuianS.N. (1998). An empirical examination of market orientation in Saudi Arabian manufacturing companies. Journal of Business Research, 43(1), 13–25.
9.
BlattbergR.C.DeightonJ. (1991). Interactive marketing: Exploiting the age of addressability. Sloan Management Review, 33(1), 5–14.
10.
BloisK.J. (2001). The manufacturing/marketing orientation and its information needs. European Journal of Marketing, 14(5/6), 354–64.
11.
BoltonR.N. (1998). A dynamic model of the duration of the customer relationship with a continuous service provider: The role of satisfaction. Marketing Science, 17(Winter), 45–65.
12.
BoundsG. (2005). The long road to Wal-Mart. Wall Street Journal, 246(56), 1–4.
13.
CallaghanM.B.McPhailJ.YauO.H.M. (1995). Dimensions of a relationship marketing orientation—An empirical exposition. In GrantK.WalkerI. (Eds), Proceedings of the Seventh Bi-Annual World Marketing Congress (pp. 59–65). Melbourne: The Department of Marketing, Monash University.
14.
ChandonP.WansinkB.LaurentG. (2000). A benefit congruency framework of sales-promotion effectiveness. Journal of Marketing, 64(4), 65–81.
15.
ChoudharyK.MukherjeeA.BanerjeeA. (2001). Relationship marketing strategy and customer perceived service quality: A study of Indian banks. New Delhi: Tata McGraw-Hill Publishing.
16.
CoaseR.H. (1937). The nature of the firm. Economica, 4(16), 386–405.
17.
CovinJ.GSlevinD.P. (1991). A conceptual model of entrepreneurship as firm behaviour. Entrepreneurship Theory and Practice, 16(1), 7–25.
18.
CrosbyL.A.KennethR.E.DeborahC. (1990). Relationship quality in services selling: An interpersonal influence perspective. Journal of Marketing, 54(3), 68–81.
19.
DawesJ. (2000). Market orientation and company profitability: Further evidence incorporating longitudinal data. Australian Journal of Management, 25(2), 173–200.
20.
DayG.S. (1990). Market driven strategy. New York: Free Press.
21.
DayG.S. (1994). The capabilities of market driven organizations. Journal of Marketing, 58(October), 37–52.
22.
DayG.S. (1999). The market driven organization—Understanding, attracting and keeping valuable customers. New York: The Free Press.
23.
DengS.DartJ. (1994). Measuring market orientation: A multi-factor, multi-item approach. Journal of Marketing Management, 10(8), 725–42.
24.
DeshpandeR.FarleyJ.U.WebsterF.E. (1993). Corporate culture, customer orientation, and innovativeness in a Japanese firm: A quadrad analysis. Journal of Marketing, 57, 23–70.
25.
DeshpandeR.FarleyJ.U. (1996). Understanding market orientation: A prospectively designed meta-analysis of the market orientation scales. Working Paper No. 96-125 (December), Marketing Science Institute, Cambridge, MA.
26.
DessG.G.LumpkinG.T. (2005). The role of entrepreneurial orientation in stimulating effective corporate entrepreneurship. Academy of Management Executive, 19(1), 147–56.
27.
DewelfK.OdekerkenS.G.LocobucciD. (2001). Investment in consumer relationship: A cross country and cross industry exploration. Journal of Marketing, 65(4), 33–50.
28.
EnrightM. (2001). Approaches to market orientation and new product development in smaller enterprises: A proposal for a context-rich interpretive framework. Journal of Strategic Marketing, 9(4), 301–13.
29.
FornellC. (1992). A national customer satisfaction barometer: The Swedish experience. Journal of Marketing, 56(January), 6–21.
30.
FornellC.JohnsonM.D.AndersonE.W.ChaJ.BryantB.E. (1996). The American customer satisfaction index: Nature, purpose, and finding. Journal of Marketing, 58 (October), 7–18.
31.
FritzW. (1996). Market orientation and corporate success: Findings from Germany. European Journal of Marketing, 30(8), 59–74.
FullertonRonald A. (1980). How modern is modern marketing? Marketing’s evolution and the myth of the production era. Journal of Marketing, 52(1), 108–25.
34.
GatignonH.XuerebJ. (1997). Strategic orientation of the firm new product performance. Journal of Marketing Research, 34(1), 77–90.
35.
GovilJ.KaurN.KaurH.GovilJ. (2008). An empirical study of MIS and its impact on management decisions. National Event on Impact of Information Technology on Society, 9February, GZB, India.
36.
GrayB.MatearS.BoshoffC.MathesonP. (1998). Developing a better measure of market orientation. European Journal of Marketing, 32(9/10), 884–903.
37.
GreenlyG.E. (1995). Market orientation and company performance: Empirical evidence from UK companies. British Journal of Management, 6(1), 1–13.
38.
GronroosC. (1989). Defining marketing: A market orientated approach. European Journal of Marketing, 23(1), 52–60.
39.
GronroosC. (1994). From marketing mix to relationship marketing: Towards a paradigm shift in marketing. Management Decisions, 32(2), 4–20.
40.
GruenT.W. (1997). Relationship marketing: The route to marketing efficiency and effectiveness. Business Horizon, 40(6), 32–38.
41.
HajjatM.M. (2002). Customer orientation: Construction and validation of the CUSTOR Scale. Marketing Intelligence and Planning, 20(7), 428–41.
42.
HelfertG.RitterT.WalterA. (2002). Redefining market orientation from a relationship perspective: Theoretical considerations and empirical results. European Journal of Marketing, 36(9/10), 1119–39.
43.
HoustonF. (1986). The marketing concept: What it is and what it is not?Journal of Marketing, 50(April), 81–87.
44.
JapS.D.GanessanS. (2000). Control mechanisms and relationship life cycle: Implications for safeguarding specific instruments and developing commitment. Journal of Marketing Research, 37(May), 227–45.
45.
JaworskiB.J.KohliA.K. (1993). Market orientation: Antecedents and consequences. Journal of Marketing, 57(3), 53–70.
46.
JosephM.McClureC.JosephB. (1999). Service quality in the banking sector: The impact of technology on service delivery. International Journal of Bank Marketing, 17(4), 182–91.
47.
KajendraK.VermaD.P.S. (2003). Influence of environmental factors on customer-orientation: A study in Sri Lanka. The Indian Journal of Commerce, 6(1), 1–8.
48.
KeithR.J. (1960). The marketing evolution. Journal of Marketing, January, 24(3), 35–38.
49.
KennedyK.N.GoolsbyJ.R.ArnoldE.J. (2003). Implementing a customer orientation: Extension of theory and application. Journal of Marketing, 67(3), 67–81.
KlaytonM. (1999). Market orientation versus production orientation in the banking industry. The Journal of Marketing Management, 9(3), 82–90.
52.
KohliA.K.JaworskiB.J. (1990). Market orientation: The construct, research propositions, and managerial implications. Journal of Marketing, 54(April), 1–18.
53.
KotlerP. (1997). Marketing management: Analysis, planning and control, 9th edn New York: Prentice Hall.
54.
KotlerP. (2000). Marketing management. Upper Saddle River, NJ: Prentice Hall.
LiuH. (1995). Market orientation and firm size: An empirical examination in UK firms. European Journal of Marketing, 29(1), 57–71.
57.
LiuH.LarsU.R.WensleyR. (2004). The dynamic of business orientation: The case of the Volvo car corporation. Industrial Marketing Management, 33(4), 333–44.
58.
LongeneckerJ.G.MooreC.W.PettyJ.W.PalichL. (2006). Small business management: An entrepreneurial emphasis, 13th edn.USA: South-Western College.
59.
LovelockC.H. (1983). Classifying services to gain strategic marketing insights. Journal of Marketing, 47(Summer), 9–20.
60.
MavondoF.FarrellM. (2003). Cultural orientation: It’s relationship with market orientation, innovation and organisational performance. Management Decision, 41(3), 241–49.
61.
McNamaraC. (1972). The present status of the marketing concept. Journal of Marketing, 36(1), 50–57.
62.
MilesM.P.ArnoldD.R. (1991). The relationship between marketing orientation and entrepreneurial orientation. Entrepreneurship—Theory and Practice, 15(4), 49–65.
63.
MorganR.M.HuntS.D. (1994). The commitment-trust theory of relationship marketing. Journal of Marketing, 58(July), 20–38.
64.
NarverJ.C.SlaterS.F. (1990). The effect of a market orientation on business profitability. Journal of Marketing, 54(3), 20–35.
65.
NobleC.H.SinhaR.K.KumarA. (2002). Market orientation and alternative strategic orientations: A longitudinal assessment of performance implications. Journal of Marketing, 66(October), 25–39.
66.
PandaT.K. (2003). Creating customer lifetime value through effective CRM in financial service industry. Journal of Services Research, 2(2), 155–71.
67.
PelhamA. (2000). Market orientation and other potential influences on performance in small and medium-sized manufacturing firms. Journal of Small Business Management, January, 38(1), 48–67.
68.
PelhamA.M.WilsonD.T. (1996). A longitudinal study of the impact of market structure, firm structure strategy and market orientation culture on dimension of small-firm performances. Journal of the Academy of Marketing Science, 24(1), 27–43.
69.
PiercyN.HarrisL.LaneN. (2002). Market orientation and retail operatives’ expectations. Journal of Business Research, 55(4), 261–73.
70.
RoyS.K. (2007). Relationship marketing—Examination of a new paradigm (pp. 18–26). The ICFAI University Press.
71.
RuekertR.W. (1992). Developing a market orientation: An organizational strategy perspective. International Journal of Research in Marketing, 9(3), 225–45.
72.
SinghP.K.PachoriM. (2007). A prognosis of changing dimensions of advertising policies and practices in Indian banking industry. The Indian Journal of Commerce, 60(4), 106–18.
73.
SlaterS.F.NarverJ.C. (1994). Does a competitive environment moderate the market orientation–performance relationship?Journal of Marketing, 58(1), 46–55.
74.
SlaterS.F.NarverJ.C. (2000). The positive effect of market orientation on business profitability: A balanced replication. Journal of Business Research, 48(1), 69–73.
75.
SureshchandarG.S.ChandrasekharanR.AnantharamanR.N.KamalanbhanT.J. (2002). Managements’ perception of total quality service in the banking sector of a developing economy: A critical analysis. International Journal of Bank Marketing, 20(4), 181–96.
76.
VerhoefP.C. (2002). Understanding the effect of CRM-effects on customer retention and customer share development. Journal of Marketing, 67(October), 30–45.
77.
VyasP.H. (2003). Market orientation as a business orientation. The Journal of BLS Institute of Management, 1(July–December), 31–48.
78.
WaylandR.E.ColeP.M. (1997). Customer connections: Strategies for growth. Harvard Business School Press.
79.
WebsterF.E. (1994). Defining the new marketing concept (Part 1). Marketing Management, 2(4), 22–30.
80.
WongV.SaundersJ. (1993). Business orientation and corporate success. Journal of Strategic Marketing, 1(1), 20–40.
81.
YauO.H.M.McFetridgeP.R.ChowR.P.M.LeeJ.S.Y.SinL.Y.M.TseA.C.B. (2000). Is relationship marketing for everyone?European Journal of Marketing, 34(9/10), 1111–27.
82.
YavasU.YasinM.M. (2001). Enhancing organizational performance in banks: A systematic approach. Journal of Services Marketing, 15(6), 444–53.
83.
ZachariasM.L.FigueiredoK.AraujoC.A. (2009). The influence of banking service customers’ satisfaction level on the perception of switching costs and on behavioural loyalty. Journal of Operations and Supply Chain Management, 2(1), 1–13.
84.
ZaltmanG.K.ManstersLeHeffringM. (1982). Theory construction in marketing: Some thoughts on thinking. New York: John Wiley.
85.
ZhouK.Z.YimC.K.TseD.K. (2005). The effects of strategic orientations on technology- and market-based breakthrough innovations. Journal of Marketing, 69(2), 42–60.
