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Determinants of retail bank choice in Nigeria: a focus on gender-based choice decisions

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  • Ogenyi Omar

Abstract

As the Nigerian retail banks customers become more sophisticated, it is now very important that retail banks determine the factors that are important and relevant to the customers’ retail bank choice decisions. By using a survey of retail bank customers, this study evaluates the relative importance attached to retail banks’ choice criteria used by male and female customers in Nigeria. The results show that there are some differences in choice factors used by male and female customers in selecting a retail bank for patronage. The recommendation is that bank managers should take both female and male market segments into consideration when making retail bank strategic planning in order to become competitive. The findings can assist retail bank managers in refining their marketing strategies as a means of overcoming the intense competition that exists in the Nigerian banking system. Copyright Springer-Verlag 2008

Suggested Citation

  • 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.
    • Handle: RePEc:spr:svcbiz:v:2:y:2008:i:3:p:249-265
    DOI: 10.1007/s11628-008-0039-1
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    References listed on IDEAS

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    1. Berry, Steven & Levinsohn, James & Pakes, Ariel, 1995. "Automobile Prices in Market Equilibrium," Econometrica, Econometric Society, vol. 63(4), pages 841-890, July.
    2. Atsede Woldie & Adebimpe Adersua, 2004. "Female entrepreneurs in a transitional economy: Businesswomen in Nigeria," International Journal of Social Economics, Emerald Group Publishing, vol. 31(1/2), pages 78-93, January.
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    Cited by:

    1. 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.
    2. Rotimi Cephas Oluwaseyitan & Haslinda Hashim & Raja Nerina Raja Yusof, 2018. "Determinants of Bank Selection: An International Student Perspective," International Journal of Academic Research in Business and Social Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Business and Social Sciences, vol. 8(5), pages 741-761, May.
    3. Tsui-Yii Shih & Sheng-Chen Ke, 2014. "Determinates of financial behavior: insights into consumer money attitudes and financial literacy," Service Business, Springer;Pan-Pacific Business Association, vol. 8(2), pages 217-238, June.

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