Comparative Analysis of Internal Service Marketing Strategy and Customers’ Satisfaction in Nigerian Banking Industry between 2005–2009 and 2010–2013

Festus A. Nmegbu, Ogwo E. Ogwo

Abstract


The internal crises in Nigerian banking industry between 2005 and 2009 which manifested failures of some banks and subsequent reforms that have recorded some improvements between 2010 and 2013 warranted this study. The purpose of the study is to examine the impact of internal service marketing strategy on customers’ satisfaction in Nigerian banking industry between 2005 and 2009 and what was responsible for the subsequent improvements made in 2010 to 2013. The customers’ satisfaction variables measured are service/product quality, market share, return on owners’ investment and customers’ loyalty. Sample size was determined using Taro Yeman’s formula. Pilot survey and Cronbach’s Alpha were used to confirm the validity and reliability of the study respectively and their variables of measures. Spearman’s rank correlation coefficient(r), simple regression and partial correlation analyses were the statistical tools used. Consequently the following major findings among others were obtained: (1) Internal marketing strategy had positive and weak relationship with product/service quality, market share, return on owner’s investment and customer loyalty in the years 2005–2009. (2) There was positive and significant relationship between internal service marketing strategy and customers’ satisfaction with technology moderating them in 2010–2013. We conclude that internal service marketing strategy was weak hence had weak impact on customers’ satisfaction in Nigerian banking industry between 2005 and 2009. We recommend market orientation to banks in order to increase customers’ satisfaction.


Full Text: PDF DOI: 10.5539/ijms.v5n6p200

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International Journal of Marketing Studies  ISSN 1918-719X(Print) ISSN 1918-7203(Online)

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