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Effect of Marketing Strategy on Customer Loyalty in the Nigerian Oil and Gas Industry: The Mediating Role of Consumer Perceived Value

Authors: MAGAJI Nanle , Awolusi Dele, Akinsuru Sydney I

Publication Type: Journal article

Journal: International Journal Of Investment Management And Financial Innovations

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Abstract

In competitive markets, customer loyalty is the result of successful marketing strategy that creates value for consumers. The purpose of this paper is to evaluate the effects of marketing strategy on customer loyalty; and the mediating role of consumer perceived value in the Nigerian oil and gas companies. To achieve these objectives, an empirical study was conducted via the administration of 550 self-administered copies of questionnaire to a randomly customers of ten (10) Oil and Gas Companies, maintained from a business-to-business national service provider. Using the framework from Lee and Green (2011), data collected was subjected to regression and correlation analysis. Findings based on the survey revealed that marketing strategy positively affected both performance measures (customer loyalty and consumer perceived value) in the Nigerian oil and gas companies. Specifically, apart from promotion(?=0.10), in descending order, the results suggest that, product (?=0.34), price (?=0.34), and place (?=0.34) are the key marketing strategies that influenced both customer loyalty and consumer perceived value in the Nigerian oil and gas industry. The findings also indicate partial mediation of consumer perceived value, between marketing strategies and customer loyalty. The model provides predictive implications on improved consumer perceived value and customer loyalty, given the activities of some factors manifesting marketing strategies. Hence, to improve both consumer’s perceived value and customer loyalty, oil and gas companies could control their marketing strategies.

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MAGAJI,N. Awolusi,O.D Akinsuru,S.I . (2015). Effect of Marketing Strategy on Customer Loyalty in the Nigerian Oil and Gas Industry: The Mediating Role of Consumer Perceived Value, 1 (), 94-94.

MAGAJI,N. Awolusi,O.D Akinsuru,S.I . "Effect of Marketing Strategy on Customer Loyalty in the Nigerian Oil and Gas Industry: The Mediating Role of Consumer Perceived Value" 1, no (), (2015): 94-94.

MAGAJI,N. and Awolusi,O.D and Akinsuru,S.I and . (2015). Effect of Marketing Strategy on Customer Loyalty in the Nigerian Oil and Gas Industry: The Mediating Role of Consumer Perceived Value, 1 (), pp94-94.

MAGAJIN, AwolusiOD, AkinsuruSI, . Effect of Marketing Strategy on Customer Loyalty in the Nigerian Oil and Gas Industry: The Mediating Role of Consumer Perceived Value. 2015, 1 ():94-94.

MAGAJI,Nanle , Awolusi,Olawumi Dele, and Akinsuru,Sydney I . "Effect of Marketing Strategy on Customer Loyalty in the Nigerian Oil and Gas Industry: The Mediating Role of Consumer Perceived Value", 1 . (2015) : 94-94.

M.Nanle A.Olawumi Dele & A.Sydney I , "Effect of Marketing Strategy on Customer Loyalty in the Nigerian Oil and Gas Industry: The Mediating Role of Consumer Perceived Value" vol.1, no., pp. 94-94, 2015.

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