We didn’t see it coming!: Managerial challenges in silently fading processes
2014 (English)In: International Journal of Bank Marketing, ISSN 0265-2323, Vol. 32, no 6, 534-550 p.Article in journal (Refereed) Published
Purpose– The purpose of this paper is to understand “silent” processes, where the relationship fades away for no obvious reason, and to outline a few managerial challenges related to a passive engagement style in the relationship. Design/methodology/approach– This paper uses an exploratory approach where 42 interviews were screened, resulting in eight semi-structured interviews that were used describing silent fading relationships. The interviews represent four relationship dyads between financial advisors and their customers in a private banking setting (wealth management). Findings– The paper outlines the relationship roots, the process dynamics, and the reasons behind fading in the relationships. It emphasizes the problems with implicit expectations from both parties in the relationship and suggests that more focus should be put on defining the relationship from the start. The absence of interaction and dialogue is problematic. If the parties in the relationship are able to communicate constructively during an unstable phase in the relationship, there is a better chance that the relationship will survive. Research limitations/implications– Since no attempts are made to generalize the knowledge retrieved, the number of fading relationships categorized must not be seen as representative for a general tendency. Practical implications– The paper offers several managerial challenges when it comes to understanding the management of silently fading relationships, e.g. managing mismatching expectations, defining and re-defining the relationship, constructive dialogue, gaining service encounter information, and the need for finding the right level of commitment in the relationship. Originality/value– This paper discusses several concepts that are highly interesting for research related to relationship dynamics. Most studies have focussed on active decisions in relationships, whereas this paper focusses on passive and inactive decisions. It also offers empirical insights, which are scarce in the area.
Place, publisher, year, edition, pages
Emerald Group Publishing Limited, 2014. Vol. 32, no 6, 534-550 p.
Services marketing, Financial services, Customer relationships, Ending, Fading, Process dynamics
Research subject Business Studies
IdentifiersURN: urn:nbn:se:umu:diva-94714DOI: 10.1108/IJBM-01-2014-0008OAI: oai:DiVA.org:umu-94714DiVA: diva2:755785