IDEAS home Printed from https://ideas.repec.org/a/eee/joreco/v22y2015icp85-95.html
   My bibliography  Save this article

An Indian customer surrounding 7P׳s of service marketing

Author

Listed:
  • Kushwaha, Gyaneshwar Singh
  • Agrawal, Shiv Ratan

Abstract

The primary aim of the study is to examine the effects of services marketing mix elements on Indian customer for making the appropriate marketing mix strategy in banking services context. The study is based on a sample of 351 customers of bank users in India who filled an online questionnaire. The paper uses confirmatory factor analysis and structural equation modeling (SEM) to analyse and confirm the conceptual model proposed in the research. The paper finds that physical evidence, process, place, and people have a positive and significant effect on customer. The study suggested an appropriate services marketing mix strategy for Indian customer perspective in the context of banking services. The paper would help the bankers to create marketing strategies and action plans to retain their existing customers and to attract new customers. The paper is first of its kind to discuss the effects of ‘7Ps’ of services marketing mix collectively on Indian customer. The results of the analysis indicated that managing the marketing mix dimensions of product, price and promotion is of less importance except place than managing interactive marketing dimensions such as people, physical evidence, and process.

Suggested Citation

  • Kushwaha, Gyaneshwar Singh & Agrawal, Shiv Ratan, 2015. "An Indian customer surrounding 7P׳s of service marketing," Journal of Retailing and Consumer Services, Elsevier, vol. 22(C), pages 85-95.
    • Handle: RePEc:eee:joreco:v:22:y:2015:i:c:p:85-95
    DOI: 10.1016/j.jretconser.2014.10.006
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0969698914001465
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.jretconser.2014.10.006?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Eugene W. Anderson & Mary W. Sullivan, 1993. "The Antecedents and Consequences of Customer Satisfaction for Firms," Marketing Science, INFORMS, vol. 12(2), pages 125-143.
    2. Helm, Roland & Gritsch, Stephanie, 2014. "Examining the influence of uncertainty on marketing mix strategy elements in emerging business to business export-markets," International Business Review, Elsevier, vol. 23(2), pages 418-428.
    3. Krishn A. Goyal & Vijay Joshi, 2012. "Indian Banking Industry: Challenges and Opportunities," International Journal of Business Research and Management (IJBRM), Computer Science Journals (CSC Journals), vol. 3(1), pages 18-28, February.
    4. Aayushi Gupta & Santosh Dev, 2012. "Client satisfaction in Indian banks: an empirical study," Management Research Review, Emerald Group Publishing Limited, vol. 35(7), pages 617-636, June.
    5. Agarwal, Reeti & Rastogi, Sanjay & Mehrotra, Ankit, 2009. "Customers’ perspectives regarding e-banking in an emerging economy," Journal of Retailing and Consumer Services, Elsevier, vol. 16(5), pages 340-351.
    6. Deepali Bhardwaj, 2007. "Relationship Marketing in Context to the IT Industry," Vision, , vol. 11(2), pages 57-66, April.
    7. Vera, Jorge & Trujillo, Andrea, 2013. "Service quality dimensions and superior customer perceived value in retail banks: An empirical study on Mexican consumers," Journal of Retailing and Consumer Services, Elsevier, vol. 20(6), pages 579-586.
    8. Charbel Salloum & Jassem Ajaka, 2013. "CRM Failure to Apply Optimal Management Information Systems: Case of Lebanese Financial Sector," Post-Print hal-01369729, HAL.
    9. Michael Sony & Nandakumar Mekoth, 2012. "A typology for frontline employee adaptability to gain insights in service customisation: a viewpoint," International Journal of Services and Operations Management, Inderscience Enterprises Ltd, vol. 12(4), pages 490-508.
    10. Timothy H. Hannan & John M. McDowell, 1984. "The Determinants of Technology Adoption: The Case of the Banking Firm," RAND Journal of Economics, The RAND Corporation, vol. 15(3), pages 328-335, Autumn.
    11. Vargo, Stephen L. & Maglio, Paul P. & Akaka, Melissa Archpru, 2008. "On value and value co-creation: A service systems and service logic perspective," European Management Journal, Elsevier, vol. 26(3), pages 145-152, June.
    12. Rajdeep Grewal & Joseph A. Cote & Hans Baumgartner, 2004. "Multicollinearity and Measurement Error in Structural Equation Models: Implications for Theory Testing," Marketing Science, INFORMS, vol. 23(4), pages 519-529, June.
    13. Beccalli, Elena, 2007. "Does IT investment improve bank performance? Evidence from Europe," Journal of Banking & Finance, Elsevier, vol. 31(7), pages 2205-2230, July.
    14. Ladhari, Riadh & Leclerc, André, 2013. "Building loyalty with online financial services customers: Is there a gender difference?," Journal of Retailing and Consumer Services, Elsevier, vol. 20(6), pages 560-569.
    15. FitzPatrick, Mary & Davey, Janet & Muller, Lisa & Davey, Howard, 2013. "Value-creating assets in tourism management: Applying marketing's service-dominant logic in the hotel industry," Tourism Management, Elsevier, vol. 36(C), pages 86-98.
    16. Brodie, Roderick J. & Ilic, Ana & Juric, Biljana & Hollebeek, Linda, 2013. "Consumer engagement in a virtual brand community: An exploratory analysis," Journal of Business Research, Elsevier, vol. 66(1), pages 105-114.
    17. Fredy Valenzuela, 2010. "Switching barriers used to retain retail banking customers," Management Research Review, Emerald Group Publishing Limited, vol. 33(7), pages 749-766, June.
    18. Gronroos, Christian, 1990. "Relationship approach to marketing in service contexts: The marketing and organizational behavior interface," Journal of Business Research, Elsevier, vol. 20(1), pages 3-11, January.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Behera, Rajat Kumar & Bala, Pradip Kumar & Rana, Nripendra P., 2024. "Assessing the intention to adopt computational intelligence in interactive marketing," Journal of Retailing and Consumer Services, Elsevier, vol. 78(C).
    2. Einas Elabbasy & Ahd Bakr, 2024. "Educational level as a modified variable to the relationship between microfinance services marketing and attracting customers’ attention in Egyptian banks," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 29(2), pages 423-439, June.
    3. Yusuf Enril Fathurrohman & Anis Syafira & Rutri Wahidiana, 2022. "Segmentation, Targeting, And Marketing Mix Strategies Of Palm Sugar Industries In Banyumas Regency, Indonesia," Food & Agribusiness Management (FABM), Zibeline International Publishing, vol. 3(1), pages 01-04, January.
    4. Lim, Xin-Jean & Cheah, Jun-Hwa & Ng, Siew Imm & Basha, Norazlyn Kamal & Soutar, Geoff, 2021. "The effects of anthropomorphism presence and the marketing mix have on retail app continuance use intention," Technological Forecasting and Social Change, Elsevier, vol. 168(C).
    5. Yi-Man Teng & Kun-Shan Wu & Che-Yi Chou, 2020. "Price or Convenience: What Is More Important for Online and Offline Bookings? A Study of a Five-Star Resort Hotel in Taiwan," Sustainability, MDPI, vol. 12(10), pages 1-16, May.
    6. Mittal, Divya & Agrawal, Shiv Ratan, 2016. "Price transparency reflects assurance and reliability," Journal of Retailing and Consumer Services, Elsevier, vol. 31(C), pages 43-51.
    7. Liu, Chih-Hsing & Horng, Jeou-Shyan & Chou, Sheng-Fang & Yu, Tai-Yi & Lee, Ming-Tsung & Lapuz, Maria Carmen B., 2023. "Discovery sustainable servicescape on behavioural intention practices and nationality: The moderating role of parasocial interaction," Journal of Retailing and Consumer Services, Elsevier, vol. 71(C).
    8. Purohit, Sonal & Paul, Justin & Mishra, Rikee, 2021. "Rethinking the bottom of the pyramid: Towards a new marketing mix," Journal of Retailing and Consumer Services, Elsevier, vol. 58(C).
    9. Wu, Kewen & Vassileva, Julita & Zhao, Yuxiang & Noorian, Zeinab & Waldner, Wesley & Adaji, Ifeoma, 2016. "Complexity or simplicity? Designing product pictures for advertising in online marketplaces," Journal of Retailing and Consumer Services, Elsevier, vol. 28(C), pages 17-27.
    10. Kamvysi, Konstantina & Andronikidis, Andreas & Georgiou, Andreas C. & Gotzamani, Katerina, 2023. "A quality function deployment framework for service strategy planning," Journal of Retailing and Consumer Services, Elsevier, vol. 73(C).

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Mittal, Divya & Agrawal, Shiv Ratan, 2016. "Price transparency reflects assurance and reliability," Journal of Retailing and Consumer Services, Elsevier, vol. 31(C), pages 43-51.
    2. Trong Tuan Luu, 2019. "CSR and Customer Value Co-creation Behavior: The Moderation Mechanisms of Servant Leadership and Relationship Marketing Orientation," Journal of Business Ethics, Springer, vol. 155(2), pages 379-398, March.
    3. Thakur, Rakhi, 2018. "Customer engagement and online reviews," Journal of Retailing and Consumer Services, Elsevier, vol. 41(C), pages 48-59.
    4. Aejoo Lee & Ki-Joon Back & JungKun Park, 2017. "Effects of customer personal characteristics on the satisfaction-loyalty link: a multi-method approach," Service Business, Springer;Pan-Pacific Business Association, vol. 11(2), pages 279-297, June.
    5. Chapman, Alexis & Dilmperi, Athina, 2022. "Luxury brand value co-creation with online brand communities in the service encounter," Journal of Business Research, Elsevier, vol. 144(C), pages 902-921.
    6. Georgia Katsifaraki, 2018. "Value creation in the market ecosystem: A Service-Dominant logic perspective," University of Cyprus Working Papers in Economics 14-2018, University of Cyprus Department of Economics.
    7. Viglia, Giampaolo & Pera, Rebecca & Dyussembayeva, Shynar & Mifsud, Matthieu & Hollebeek, Linda D., 2023. "Engagement and value cocreation within a multi-stakeholder service ecosystem," Journal of Business Research, Elsevier, vol. 157(C).
    8. Payam Hanafizadeh & Seyedali Marjaie, 2020. "Trends and turning points of banking: a timespan view," Review of Managerial Science, Springer, vol. 14(6), pages 1183-1219, December.
    9. Andreini, Daniela & Pedeliento, Giuseppe & Zarantonello, Lia & Solerio, Chiara, 2019. "Reprint of "A renaissance of brand experience: Advancing the concept through a multi-perspective analysis"," Journal of Business Research, Elsevier, vol. 96(C), pages 355-365.
    10. Vargo, Stephen L. & Lusch, Robert F., 2017. "Service-dominant logic 2025," International Journal of Research in Marketing, Elsevier, vol. 34(1), pages 46-67.
    11. Linda D. Hollebeek & Rajendra K. Srivastava & Tom Chen, 2019. "S-D logic–informed customer engagement: integrative framework, revised fundamental propositions, and application to CRM," Journal of the Academy of Marketing Science, Springer, vol. 47(1), pages 161-185, January.
    12. Pierri, Nicola & Timmer, Yannick, 2022. "The importance of technology in banking during a crisis," Journal of Monetary Economics, Elsevier, vol. 128(C), pages 88-104.
    13. Juliette Passebois & Philippe Aurier, 2004. "Building consumer/arts institution relationships: An exploratory study in contemporary art museums," International Review on Public and Nonprofit Marketing, Springer;International Association of Public and Non-Profit Marketing, vol. 1(2), pages 75-88, December.
    14. Wilson, John O.S. & Casu, Barbara & Girardone, Claudia & Molyneux, Philip, 2010. "Emerging themes in banking: Recent literature and directions for future research," The British Accounting Review, Elsevier, vol. 42(3), pages 153-169.
    15. Jaya Sangeetha, 2017. "Development of Scale for Service Quality, Satisfaction and Behavioral intentions: Middle Eastern Context," Advances in Management and Applied Economics, SCIENPRESS Ltd, vol. 7(2), pages 1-4.
    16. Scott, Susan V. & Van Reenen, John & Zachariadis, Markos, 2017. "The long-term effect of digital innovation on bank performance: An empirical study of SWIFT adoption in financial services," Research Policy, Elsevier, vol. 46(5), pages 984-1004.
    17. Yi-Wen Chen, 2020. "Sustainable Value Co-Creation in the Virtual Community: How Diversified Co-Creation Experience Affects Co-Creation Intention," IJERPH, MDPI, vol. 17(22), pages 1-14, November.
    18. Prabal Chakraborty & Moumita Poddar, 2020. "Role of Multiple Stakeholders in Value Co-creation and Effects on Medical Tourism," Jindal Journal of Business Research, , vol. 9(1), pages 18-26, June.
    19. Hamza Shahid & Arqam Iqbal, 2019. "Customer Brand Engagement Behavior In Online Brand Communities," Journal of Marketing and Logistics (JML), Khadim Ali Shah Bukhari Institute of Technology (KASBIT), vol. 2, pages 65-85, January.
    20. Purohit, Sonal & Paul, Justin & Mishra, Rikee, 2021. "Rethinking the bottom of the pyramid: Towards a new marketing mix," Journal of Retailing and Consumer Services, Elsevier, vol. 58(C).

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:joreco:v:22:y:2015:i:c:p:85-95. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: https://www.journals.elsevier.com/journal-of-retailing-and-consumer-services .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.