Moderating Effect of Marketing Mix Strategy on the Relationship Between Service Quality and Customer Satisfaction of Commercial Bank Customers, Nairobi Kenya
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Date
2017-01-31
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Publisher
iJARS International Journal of Economics and Commerce
Abstract
Marketing strategy remains a critical driver of customer satisfaction and competitiveness in the
banking industry globally. Despite this, Commercial banks in Kenya are yet to attain required customer
satisfaction levels. This is evident in the low average customer satisfaction index (CSI) which dropped
from 67% in 2011 with a downward trend to 60% in 2015 way below the Kenyan Banking industry
benchmark of 77%. Studies on the relationship between service quality and customer satisfaction revealed
both positive and negative results. These suggest that the relationship may be affected by other factors such
as marketing mix strategy. Previous studies have not addressed the role of marketing mix strategy
comprising of product, price, promotion, place, people, process and physical evidence in the relationship
between service quality and customer satisfaction. The role of a moderating variable like marketing mix
strategy can have a strong influence on the strength of the relationship thus it’s needed for the study. The
main purpose of this study was to analyze the effect of marketing mix strategy on the relationship between
service quality and customer satisfaction of commercial bank customers in Nairobi, Kenya.
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Keywords
Marketing Mix Strategy, Service Quality, Customer Satisfaction,