Impact of Service Marketing Mix on Bank Performance in Bangladesh

Md. Maniruzzaman; Dr. Mohammad Zahir Raihan

doi:10.47814/ijssrr.v8i7.2770

Md. Maniruzzaman School of Business, Bangladesh Open University, Gazipur, Bangladesh
Dr. Mohammad Zahir Raihan School of Business, Bangladesh Open University, Gazipur, Bangladesh

DOI: https://doi.org/10.47814/ijssrr.v8i7.2770

Keywords: Service Marketing Mix, Bank Performance, Customer Satisfaction, Structural Equation Modeling, Technological Adaptation

Abstract

This study examines the effect of the Service Marketing Mix (7Ps) on the performance of banks in Bangladesh, including the mediating role of Customer Satisfaction and Brand Loyalty (CSBL). A quantitative research design utilized a standardized questionnaire distributed to 600 bankers from public, private, Islamic, and overseas institutions. Data were examined utilizing Structural Equation Modelling (SEM) to evaluate the suggested conceptual framework. The results indicate that the Service Marketing Mix significantly impacts customer happiness and overall bank performance. Moreover, CSBL was identified as a partial mediator of this relationship, while technological and regulatory elements augmented the strategic efficacy of marketing initiatives. The measuring model demonstrated substantial reliability, with Cronbach’s alpha values surpassing 0.83, composite reliability reaching 0.88, and AVE values reflecting robust convergent validity. These findings underscore the significance of a comprehensive, customer-centric marketing strategy integrated with regulatory compliance and digital preparedness to enhance sustainable banking success. The study provides actionable ideas for enhancing service delivery, customer engagement, and competitive positioning within the banking industry of emerging economies.

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