Impact of Marketing Mix on Customer Satisfaction: A Study on Selected Commercial Banks at Rajshahi Division in Bangladesh
DOI:
https://doi.org/10.18034/abr.v11i3.598Keywords:
Marketing mix, Customer Satisfaction, Physical goods, Service-oriented Organization, Rajshahi Division, BangladeshAbstract
This study aims to provide commercial banks with the impact of the elements of the marketing mix on customer satisfaction. The motivation behind taking the study is to find which of the elements of the marketing mix have the most impact on bank customer satisfaction for the commercial banks at the Rajshahi division in Bangladesh. A survey of 350 commercial bank clients was conducted in the middle of 2020 using a simple random sampling technique. The reliability test, frequency distribution, Pearson's correlation analysis, one-sample t-test, and multiple regression techniques were used to assess the collected data. According to the findings, marketing mix factors impact customer satisfaction for service-oriented firms such as banks as they do for customers of tangible goods. Furthermore, the findings revealed that the attributes of 'People,' 'Price,' and 'Product,' which are elements of the marketing mix for bank settings, are highly correlated and have the most significant effects in predicting customer satisfaction of commercial banks in Rajshahi division of Bangladesh. The findings have important ramifications for bank executives, as they can be used to build future banking strategies based on them.
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