Study on Impact of Marketing Strategies on Customer Satisfaction: Case on Commercial Banks in Uva Province

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dc.contributor.authorRathnayake, R.M.B.M.B.
dc.contributor.authorKulathunga, K.M.M.C.B.
dc.date.accessioned2021-10-07T04:50:59Z
dc.date.available2021-10-07T04:50:59Z
dc.date.issued2011
dc.description.abstractMarketing strategy is one of the most important factors associated with the desirable business outcomes in a competitive market place. This research identifies marketing strategy as a remarkable impact on customer satisfaction. Customer satisfaction differs from person to person and situation to situation. Many researchers have looked into the importance of customer satisfaction. Kotler (2000) defines satisfaction as a person's feelings of pleasure or disappointment resulting from comparing a product's perceived performance in relation to his or her expectations. Hoyer and Maclnnis (2001) say that satisfaction can be associated with feelings of acceptance, happiness, relief, excitement and delight. Marketing strategy is the most essential factor that is required to product sustainability in a competitive market place. There are many examples of marketing programmes designed to build loyalty. If it has been done improperly, marketing strategy will not be able to achieve the goals of the client firm. One strategy is not appropriate for all the marketing programmes. The best marketing strategy must be adopted for a successful business. Marketing methods and tools are the basis of the marketing strategy that a company will use to raise to the top of their market (Kotler and Andreasen, 1996). Customer repurchasing behavior for a particular product or service leads to profitability. In the early 1960s, Professor Neil Borden at Harvard Business School identified a number of actions that can influence the consumer decision to purchase goods or services. Bearden (1983) suggested that all those actions of the company represented a "Marketing Mix". Customer satisfaction is the most sensitive factor that is exposed to various factors. In order to maintain a stable customer satisfaction level, a continuous consideration is required. In the banking sector in Sri Lanka, there are many competitors such as, Bank of Ceylon, People's Bank, Commercial Bank, Hatton Nnational Bank, Development Finance Corporation of Ceylon, Hong-Kong Shanghi Bank Corporation. Therefore, to ensure the market share among these competitors, each bank has to take considerable efforts to maintain a stable customer satisfaction level. In order to improve the customer retention through customer satisfaction, each competitor should focus on the particular strategies that are able to identify the sensitivity of customer satisfaction. Customer satisfaction in banking sector cannot be maintained by merely satisfying customers. Firms try to delight customers and then loyal customer base is retained. The strength of the marketing strategy is strongly affected the Customer satisfactionen_US
dc.identifier.issn22359877
dc.identifier.urihttp://www.erepo.lib.uwu.ac.lk/bitstream/handle/123456789/7136/269-Study%20on%20Impact%20of%20Marketing%20Strategies%20on%20Customer%20Satisfaction%20Case%20on.pdf?sequence=1&isAllowed=y
dc.language.isoenen_US
dc.publisherUva Wellassa University of Srilankaen_US
dc.subjectBusiness Managementen_US
dc.subjectManagementen_US
dc.subjectMarketingen_US
dc.titleStudy on Impact of Marketing Strategies on Customer Satisfaction: Case on Commercial Banks in Uva Provinceen_US
dc.typeOtheren_US
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Research Symposium-2011