Effect Of Marketing Mix Strategy On Customer Satisfaction Of Customers Of Commercial Banks In Kenya

Abstract

Abstract: Marketing strategy remains a critical driver of customer satisfaction and competitiveness in the banking industry globally. The main purpose of this study was to analyse the effect of marketing mix strategy on customer satisfaction of commercial banks customers in Kenya. Correlational research design was employed through cross sectional survey. The target population was 1,072,500 customers of commercial bank customers in Nairobi. A sample of 384 was drawn using proportionate stratified sampling technique to constitute 242 retail, 81 business and 61 corporate customers. Primary data was collected through use of questionnaires validated through a pilot study of 15 customers. Cronbach’s Alpha reliability coefficient was 0.799.The results revealed that marketing mix strategy significantly contributed to customer satisfaction (β=0.650, p=0.000) implying marketing mix strategy initiatives increases levels of customer satisfaction. Study concludes: marketing mix strategy contributes positively to customer satisfaction Study recommends: bank management to maintain a good blend of marketing mix strategies that will lead to high customer satisfaction levels. Study provides a marketing mix strategy model that will aid in improving customer satisfaction.