• Ali Hashem Zehi
  • Soroush Sayyari



Abstract. Early investigations on the banking industry indicate that a considerable part of bank’s resources is provided through a limited number of valuable customers. However, many domestic banks in general and state-owned banks in particular, do not provide a clear definition on valuable customers, leading to the lack of an understanding of the subjective expectations of the customers regarding the nature of an effective relationship. This study aims to explain the size and components of the ideal relationship between the customers and banks according to the customers’ comments. Codes extracted from interviews with fourteen privileged customers of banks are analyzed using the grounded theory as a qualitative research approach. Accordingly, dimensions of the paradigmatic model and elements of a good relationship with the privileged customers are explained. After the analysis of the proposed model, some suggestions are presented for future bank managers and researchers in this field.
Key words: privileged customers, customer relationship management, Grounded Theory, State-owned Bank


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