Business, Management and Accounting
5 years ago

Bank marketing communication tools significantly impact customer loyalty in emerging economies.

Scientific African
Examining the effect of customers’ perception of bank marketing communication on customer loyalty
Chinedu Ogbonnaya Zephaniah, Ike‐Elechi Ogba, Ernest Emeka Izogo

Paper Summary

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The article explores how customers' views of bank marketing affect their loyalty. The researchers surveyed 313 Nigerian bank customers to gather data. They used a method called partial least squares structural equation modelling to analyze the data. The study found that advertising, sales promotions, public relations, and personal selling in bank marketing can predict customer loyalty. However, direct marketing does not have the same impact. This research suggests that banks in Nigeria and similar economies should update their marketing strategies to improve customer loyalty.