IDEAS home Printed from https://ideas.repec.org/a/rss/jnljms/v6i4p1.html
   My bibliography  Save this article

Bank Choice Determinant Factors: A Study of University Students in Metropolitan Kano

Author

Listed:
  • Adewale A. Adekiya
  • Muhammad S. Gawuna

Abstract

The student market is fast becoming an important market niche which might henceforth prove difficult to ignore as a result of the ever increasing competitive commercial banking organizations. This is consequent to the fact that only college educated individuals have a significantly higher than average chance of rising from the low income group into the middle class. These pools of students are usually attracted to banking products/services through the influence of specific organizational and personal related factors. Thus, it is assumed that these factors of attraction can equally aid in the retention of this unique market segment thereby ensuring the much needed industry competitiveness and profitability. Hence the need to have a pre-knowledge of such factors for the formulation of relevant marketing strategies becomes necessary. This study examines the relevant choice criteria of banking products/services: reputation, service quality, financial gains, convenience, group influence and information availability among University students in Kano city, Nigeria. The study is limited to 357 final year students of Bayero University, Kano who were selected by employing the probability simple random sampling technique. A total of three hundred and fifty seven (357) multiple choice and structured questionnaire were administered to elicit responses for the achievement of research objectives. Out of the three hundred and fifty seven copies of questionnaire, 265 copies were retrieved, 14 were discarded for improper completion and the remaining 251 copies were utilized in final analysis indicating a usable response rate of 70%. Further, the result from the one sample T-test and independent test of statistical difference indicates that all the six choice criteria are statistically and significant factors of influence on bank choice decision among the students. The criteria of convenience, reputation, service quality, financial gains, information availability and group influence are ranked as most important in descending order, and there is no statistical difference among the male and female students in all the choice criteria with the exception of financial gains. In line with these results, banks were advised to streamline their marketing strategies in accordance with these identified choice criteria while dealing with the emerging lucrative student market segment.

Suggested Citation

  • Adewale A. Adekiya & Muhammad S. Gawuna, 2015. "Bank Choice Determinant Factors: A Study of University Students in Metropolitan Kano," International Journal of Management Sciences, Research Academy of Social Sciences, vol. 6(4), pages 154-175.
    • Handle: RePEc:rss:jnljms:v6i4p1
    as

    Download full text from publisher

    File URL: http://rassweb.org/admin/pages/ResearchPapers/Paper%201_1497466383.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Ogenyi Omar, 2008. "Determinants of retail bank choice in Nigeria: a focus on gender-based choice decisions," Service Business, Springer;Pan-Pacific Business Association, vol. 2(3), pages 249-265, September.
    2. Larry A. Frieder & Phillip N. Petty, 1991. "Determinants Of Bank Acquisition Premiums: Issues And Evidence," Contemporary Economic Policy, Western Economic Association International, vol. 9(2), pages 12-24, April.
    3. Syed Ali Raza & Nida Hanif, 2013. "Factors affecting internet banking adoption among internal and external customers: a case of Pakistan," International Journal of Electronic Finance, Inderscience Enterprises Ltd, vol. 7(1), pages 82-96.
    4. Larry A. Frieder & Phillip N. Petty, 1991. "Determinants Of Bank Acquisition Premiums: Issues And Evidence," Contemporary Economic Policy, Western Economic Association International, vol. 9(1), pages 12-24, January.
    Full references (including those not matched with items on IDEAS)

    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. Carow, Kenneth A. & Cox, Steven R. & Roden, Dianne M., 2004. "Mutual holding companies: Evidence of conflicts of interest through disparate dividends," Journal of Banking & Finance, Elsevier, vol. 28(2), pages 277-298, February.
    2. Flanagan, David J. & O'Shaughnessy, K. C., 2003. "Core-related acquisitions, multiple bidders and tender offer premiums," Journal of Business Research, Elsevier, vol. 56(8), pages 573-585, August.
    3. Kenneth A. Carow & Steven R. Cox & Dianne M. Roden, 2007. "The Role of Insider Influence in Mutual‐to‐Stock Conversions," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 39(6), pages 1285-1304, September.
    4. Hussain, Hadia & Murtaza, Murtaza & Ajmal, Areeb & Ahmed, Afreen & Khan, Muhammad Ovais Khalid, 2020. "A study on the effects of social media advertisement on consumer’s attitude and customer response," MPRA Paper 104675, University Library of Munich, Germany.
    5. Yeoh Khar Kheng & Sethela June, 2016. "Fostering the Innovative Work Behavior of Knowledge Workers in Malaysia’s Knowledge Intensive Business Services: A Social Capital Perspective," International Journal of Management Sciences, Research Academy of Social Sciences, vol. 7(3), pages 162-169.
    6. Muhammad Shahnawaz Adil, Kamal bin Ab Hamid, 2017. "Impact of Individual Feelings of Energy on Creative Work Involvement: A Mediating Role of Leader-Member Exchange," Journal of Management Sciences, Geist Science, Iqra University, Faculty of Business Administration, vol. 4(1), pages 82-105, March.
    7. Hazwati Hashim & Noor Mashitah Rusli & Nur Hazimah Nor Hashim & Adam Chong Chin Hua, 2015. "The Readiness of ESL Teachers in Implementation of School-Based Assessment in Malaysian Secondary Schools," Studies in Social Sciences and Humanities, Research Academy of Social Sciences, vol. 3(5), pages 280-294.
    8. Muhammad Ali & Syed Ali Raza & Chin-Hong Puah & Mohd Zaini Abd Karim, 2017. "Islamic home financing in Pakistan: a SEM-based approach using modified TPB model," Housing Studies, Taylor & Francis Journals, vol. 32(8), pages 1156-1177, November.
    9. Ghaznavi, Saeeda Naz & Ali, Syed Yousuf & Mahmood Khan, Neha & Fatima, Mahrukh & Shakoor, Iqra, 2022. "Factors That Motivates Fake News Sharing Among Social Media Users: A Case of an Emerging Economy," MPRA Paper 112302, University Library of Munich, Germany.
    10. Imtiaz Arif, Sahar Afshan, Arshian Sharif, 2016. "Resistance to Adopt Mobile Banking in a Developing Country: Evidence from Modified TAM," Journal of Finance and Economics Research, Geist Science, Iqra University, Faculty of Business Administration, vol. 1(1), pages 23-40, March.
    11. Yaser Mansour Almansour, 2015. "The Impact of Total Quality Management Components on Firms Performance," International Journal of Management Sciences, Research Academy of Social Sciences, vol. 6(8), pages 384-394.
    12. Raza, Syed Ali & Shah, Nida & Nisar, Wasay, 2019. "Consumer Buying Behavior of Organic Food with Respect to Health and Safety Concerns among Adolescents," MPRA Paper 93570, University Library of Munich, Germany.
    13. Hadia Iftikhar & Zeb Jan & Shah Muhammad Najmi, 2015. "Gaining Organizational Competitiveness through Employee Retention: A Cost Cutting Strategy," International Journal of Management Sciences, Research Academy of Social Sciences, vol. 6(9), pages 412-429.
    14. Ogheneochuko Salome Ighomereho & Taofeek Sola Afolabi & Adeniyi Olufemi Oluwakoya, 2023. "Impact of E-service quality on customer satisfaction: a study of internet banking for general and maritime services in Nigeria," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 28(3), pages 488-501, September.
    15. Sheikh, Muhammad Ammad & Mumtaz, Talha & Sohail, Nabeel & Ahmed, Bilal & Noor, Zain, 2021. "Fake News Acceptance by Demographics and Culture On Social Media," MPRA Paper 108934, University Library of Munich, Germany.
    16. Amir Reza Nemat Tabrizi & Zeinab Rajabi, 2016. "The Impact of Explicit Instruction of Top-Down Reading Strategies on Reading Comprehension of Introvert vs. Extrovert Intermediate EFL Learners," Journal of Education and Literature, Research Academy of Social Sciences, vol. 4(3), pages 85-97.
    17. Shamshad, Aiman & Mumtaz, Tasmia & Muhammad, Uzair & Abdul, Haseeb & Shah, Syed Jibran Ali, 2020. "Exploring The Drivers of Technology Acceptance: A study on Pakistani University Student," MPRA Paper 104646, University Library of Munich, Germany.
    18. Amir Reza Nemat Tabrizi & Mojtaba Mohammadi, 2015. "The Relationship between Iranian EFL Teachers Critical Thinking and Their Teaching Styles," Journal of Education and Literature, Research Academy of Social Sciences, vol. 3(3), pages 121-130.
    19. Shabnam Hamdi & Abu Daud Silong & Roziah Mohd Rasdi & Zoharah Binti Omar, 2015. "Moderating effect of Technology Uncertainty on Relationship between Innovation Speed and Product Success: A Survey in Malaysian Biotechnology Industry," International Journal of Management Sciences, Research Academy of Social Sciences, vol. 6(8), pages 375-383.
    20. Osama, Osama & Nofil, Muhammad & Sufyan, Muhammad & Tariq, Kiran, 2022. "Analyzing The Influence of Students’ Personal Traits and Perceived Course Characteristics On Online Engagement: An Evidence from a Developing Economy," MPRA Paper 112323, University Library of Munich, Germany.

    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:rss:jnljms:v6i4p1. 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: Danish Khalil (email available below). General contact details of provider: http://www.rassweb.org .

    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.