Title: The Effects of the 7Ps Marketing Mix Strategy on Customer Satisfaction – A Case Study of Personal Finance Services of Bank of Communications in Bozhou Branch
Author: Shao Wen
Advisor: Dr. Zhang Li
Degree: Master of Business Administration
Major: International Business Management
Faculty: บัณฑิตวิทยาลัย (Graduate School)
Academic year: 2567 (2024)
Published: The 8th STIU International Conference “TechVision Leadership: Fostering Social Sustainability” July 4-5 2024 (pp.496-506) Proceedings PDF
Abstract
At present, the personal financial service of Bozhou Branch of Bank of Communications lacks innovative and advanced marketing strategy. This study aimed to investigate the factors that affect the marketing mix strategy of personal financial service of Bozhou Branch of Bank of Communications to enhance customer satisfaction and optimize the marketing strategy of personal financial services of commercial banks. The objectives were: 1) To analyze the current situation of marketing strategy of personal financial services of Bozhou Branch of Bank of Communications; 2) To explore the effect of the 7Ps marketing mix strategy on customer satisfaction with personal financial services of Bozhou Branch of Bank of Communications.
This study employed the 7Ps marketing theory as its theoretical framework and integrated the customer satisfaction theory to develop an effective service marketing strategy for the Bozhou Branch of Bank of Communications. Utilizing the random sampling method, this study selected customer groups as the research sample for the customer satisfaction survey on personal financial services of Bozhou Branch of Bank of Communications, distributed 240 questionnaires, and all 240 questionnaires were collected, with a valid questionnaire collection rate of 100%. Through quantitative analysis, the study found that: 1) Bank of Communications Bozhou Branch offers a well-rounded range of personal finance services but faces limitations in product specialization, pricing consistency, access, promotional effectiveness, staff variability, process efficiency, and physical environment, which impact overall customer satisfaction. 2) The 7Ps marketing strategy factors of product, price, place, process, promotion, people and physical evidence have a significant positive impact on customer satisfaction. Recommendations include: 1) Optimize the 7Ps marketing strategy; 2) Build a professional team of financial managers.
Keywords: personal finance services, commercial bank, 7Ps service marketing strategy, customer satisfaction
The Effects of the 7Ps Marketing Mix Strategy on Customer Satisfaction – A Case Study of Personal Finance Services of Bank of Communications in Bozhou Branch /
6517195804 Shao Wen 2567 (2024) The Effects of the 7Ps Marketing Mix Strategy on Customer Satisfaction – A Case Study of Personal Finance Services of Bank of Communications in Bozhou Branch สารนิพนธ์ (Independent Study), Advisor: Dr. Zhang Li, ปริญญาโท (Master’s Degree), บัณฑิตวิทยาลัย (Graduate School), Master of Business Administration, International Business Management, Bangkok: Siam University