The significance of guanxi in relationship marketing: Perspectives of foreign banks in China

Abstract

The objective of this research is to study the significance of guanxi in terms of its importance and applicability to foreign banks in China ("CFBs"). It adopts a qualitative approach. Data are collected through semi-structured interviews of ten marketing executives ("Relationship Managers"), representing ten samples from ten CFBs based in Shanghai. Non-probability and purposive sampling techniques are applied. The research problem focuses on how important guanxi is in relationship marketing ("RM") activities of CFBs. The findings confirm, either fully or partially, the research propositions. Such confirmations, coupled with certain theoretical and practical implications, have led to development of a platform/foundation for further research.