RELATIONSHIP BETWEEN PRODUCT PROMOTION STRATEGY AND CUSTOMER SATISFACTION IN SELECTED BANKS IN LAGOS STATE.

RELATIONSHIP BETWEEN PRODUCT PROMOTION STRATEGY AND CUSTOMER SATISFACTION IN SELECTED BANKS IN LAGOS STATE.

Author by Dr. Margret Kabuoh

Journal/Publisher: International Journal Of Advanced Research Public Policy, Administration & Development Strategie

Volume/Edition: 2

Language: English

Pages: 67 - 80

Abstract

Bank customers if left alone will not be aware of product/service existence, therefore the underlying point is that bank staff should imbibe promotional culture to keep customers informed about product availability. This study investigated the relationship between product promotion strategy and customer satisfaction. Descriptive survey design was adopted. 106,405 was the total population of customers of four selected banks in Lagos state. The Cochram (1963) infinite population formula was adopted with the application of proportionate random sampling technique to derive a sample size of 2000 and 1,949 responses came successfully. Structured questionnaire was administered with moderated 6 point likert scale. Result indicated strong positive relationship between product promotion strategy and customer satisfaction. The study recommended that product promotion strategy should serve as a benchmark to customer satisfaction and banks’ sustainability.


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