The effect of marketing culture on customer satisfaction and loyalty in the ghanaian banking industry: a case study of bank of africa
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Date
2023
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KNUST
Abstract
As the completive environment becomes more turbulent, the most important issue the service providers face is no longer to provide excellent, good quality products or services, but also to keep loyal customers who will contribute long -term profit to organizations. To compete in such overcrowded and interactive marketplace, marketers are forced to look beyond the traditional ‘’marcom’’ (4ps) of marketing strategy, which are no longer enough to be implemented for achieving completive advantage. Therefore, relationship marketing incorporated in a good marketing culture has become an alternative means for organization to build strong ongoing associations with their customers. The work concentrated itself on finding out the effect of bank of africa’s marketing culture has on customer satisfaction and loyalty. Using purposive sampling and convenience sampling, data was collected from both the bank’s management, staff and its customers. Data collected was analysed using spss (statistical package for the social sciences), equinox software, excel, (likert scale questionnaire was used also for data collection, moreover secondary and primary data were also used to retrieve from journals and scientific reports, articles, academic papers, statistical tables and graphs were used to represent the data gathered and presented in tables, correlation analysis, and regression analysis using stata collected in its interpretation. The research found out that marketing culture has a positive correlation with customer satisfaction and loyalty. Where a good marketing culture geared at customers will have positive feedback in terms of profits and cost and the vice versa. The major recommendation was that banks should develop a marketing culture with customers in mind or a culture that is geared towards customers and this will ensure a positive customer satisfaction and increased word of mouth.