Effects of Marketing Strategy on Banks’ Performance
Abstract
The purposes of this study are to determine the relationships that exists between banks’ marketing strategies and their performance, and to establish the mediating role of customer satisfaction in this relationships. To achieve these purposes, interview data, which were subsequently analyzed by using thematic analysis method, were collected from a sample of sixteen bank marketing managers - who were selected through quota sampling technique. On top of this, survey data were gathered from two hundred and thirty eight bankers who were selected through simple random sampling technique. Finally, descriptive, correlation, and regression analyses of these data were conducted by using SPSS v25; Sobel test method was used to test the statistical significance of the mediated effect of banks’ marketing strategies upon their performance; and, bootstrapping method was used to test related hypotheses. Accordingly, the results of qualitative analysis, among other things, show that failures on the part the country’s financial regulatory body in issuing legal instruments and failures on the part of the banks are the main reasons for the deficiencies in the country’s banks marketing strategies and mixes. In addition to these, the results of quantitative analyses confirm that banks’ marketing strategies have statistically significant direct and indirect effects upon banks’ performances; customer satisfaction has statistically significant direct effect upon banks’ performance; and, the mediated effects are partial mediation only. Therefore, these findings are highly important, and have useful implications for the country’s bank executives, policy makers, academics, and financial regulatory body.
Keywords: Product, Pricing, Distribution, Communication, Customer Relationship, Sustainability
Abbreviations: CS = Customer Satisfaction, BPR = Banks’ Performance, PS = Product Strategy, PRS = Pricing Strategy, CMS = Communication Strategy, DS = Distribution Strategy, CRS = Customer Relationship Strategy, SMS = Sustainable Marketing Strategy
DOI: 10.7176/EJBM/14-13-01
Publication date:July 31st 2022
To list your conference here. Please contact the administrator of this platform.
Paper submission email: EJBM@iiste.org
ISSN (Paper)2222-1905 ISSN (Online)2222-2839
Please add our address "contact@iiste.org" into your email contact list.
This journal follows ISO 9001 management standard and licensed under a Creative Commons Attribution 3.0 License.
Copyright © www.iiste.org