Effects Of Strategic Marketing Of Financial Services On Organisational Performance Of Commercial Banks In Zimbabwe: A Case Of Steward Bank
- Author
- Tanaka Melissa Chawasarira
- Title
-
Effects Of Strategic Marketing Of Financial Services On Organisational Performance Of Commercial Banks In Zimbabwe: A Case Of Steward Bank
- Abstract
-
Abstract
With Steward Bank as a case study, the main goal was to ascertain the impact of strategic marketing on the organizational performance of financial service providers in Zimbabwe. The first goal was to determine how marketing of financial services affected Steward Bank's performance. The second goal was to identify issues with Steward Bank's marketing of its banking services in order to offer solutions. Lastly, to ascertain the connection between Steward Bank performance and marketing methods. Utilizing a quantitative research design, this study was conducted. The personnel of Steward Bank in Harare, including managers, bank tellers, and marketing staff, were the study's target group. Using quota sampling, the researcher in this study determined five characteristics or groupings, including marketing, operations, human resources, and customer services, and finance. Data gathering involved the use of a questionnaire. With an alpha score of 0.727, a reliability test using Cronbach's alpha revealed that the questionnaire was suitable for usage. The questionnaire received a 100% response rate. The findings showed a substantial (p value = 0.000) strong positive correlation of 0.765 between Steward Bank's performance and its product strategy. Additionally, the analysis discovered a 0.644 positive association between the bank's performance and pricing approach, with a p value of 0.000. According to regression research, Steward Bank's marketing strategy influences its organizational performance by 94.2%, as evidenced by the study's r square value of 94.2%. Since Zimbabwean banks provide essentially the same services, the study suggested that. The distinction will be made by the method in which the services are provided. For increased profitability, more emphasis should be placed on providing efficient services.
- Date
- June 2023
- Publisher
- BUSE
- Keywords
- Marketing strategy
- Bank
- organisational performance
- Supervisor
- N/A
