Marketing Concept Application and Bank Customer Satisfaction

Abstract

This study assessed bank customers’ perception of the role of marketing concept application in driving satisfaction in any bank transaction. Using the KMPG customer satisfaction index to measure banks’ extent of marketing concept application, 246 customers of First Bank and Fidelity Bank Okigwe and Afikpo branches were studied. The convenience sampling technique was used in selecting the banks and respondents while questionnaire was the instrument of data collection. Both the inferential and descriptive statistics were used in data analysis while the spearman’s correlation coefficient was used in testing stated hypotheses. Findings revealed that there is a significant and positive relationship between customer satisfaction and marketing concept application measured by convenience, customer care, process and pricing practices. It was recommended among others that banks that are desirous of enviable competitive position should practice holistic marketing concept in their services and that staff should be periodically trained to fit into the modern services needs of the 21st century customers.