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The Effect of Marketing Mix in Attracting Customers: Case Study of Saderat Bank in Kermanshah Province

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The Effect of Marketing Mix in Attracting Customers: Case Study of Saderat Bank in Kermanshah Province Vol. 7(34), pp. 3272-3280, 14 September, 2013 DOI: 10.5897/AJBM12.127 African Journal of Business Management ISSN 1993-8233 © 2013 Academic Journals http://www.academicjournals.org/AJBM Full Length Research Paper The effect of marketing mix in attracting customers: Case study of Saderat Bank in Kermanshah Province Bahman Saeidi Pour1, Kamran Nazari2 and Mostafa Emami3* 1Department of Educational, Payam Noor University, Iran. 2Department of Business Management, Payam Noor University, Kermanshah, Iran. 3Young Researchers Club, Kermanshah Branch, Islamic Azad University, Kermanshah, Iran. Accepted 24 November, 2012 This study investigated the impact of marketing mix in attracting customers to Saderat Bank in Kermanshah Province. Questionnaire which included 30 questions was used to collect information in this research. The reliability of the questionnaire was calculated using Cronbach's alpha, and a value of 0.882 was obtained, greater than 0.7 which is the reliability of the questionnaire. The population used in this study is the customers of Saderat Bank in Kermanshah Province, with at least one account, interest- free loans and savings. 250 questionnaires were collected by stratified random sampling. The work has one main hypothesis and 5 sub- hypotheses. Pearson correlation test was used to test the hypotheses. It was established that factors in the marketing mix have a significant positive effect in absorbing customers. That means the bank has a significant positive effect. Key words: Marketing, marketing mix factors, customers‘ orientation, customers‘ satisfaction. INTRODUCTION Progress and transformation in industries, institutions and appropriately in a variety of services and advertising to companies has to do with their ability to deal with pro- attract customers, there is increase in financial institu- blems, activities, as well as competitors. Each institution tions and banks. Marketing is one of the issues that is should adopt policies with respect to long-term vision, subject to change, due to market changes in consump- mission, goals, opportunities, arrangements and using tion patterns and tastes of individuals. Population growth, internal facilities of an external to develop comprehensive urban expansion, changes in community structure, marketing (Industries, 1384), because in today's global diversity of products, advance knowledge and genera- business environment there is increasing complexity, tional changes are factors that will determine market rapid change and unexpected developments (Mason, variables (Lavak, 1382). 2007). Each institution has the task of marketing managers by With the development of science in all fields, banks and analyzing, planning, implementing and controlling effec- financial markets have become competitive in recent tively marketing programs in order to develop a superior years as seen in the development of their activities, crea- competitive position in target markets. Marketing plan tion of private banks and financial institutions and includes a process designed for predicting future events applying marketing techniques and strategies for and determining strategies to achieve the objectives of an attracting customers and increasing deposit. Using the institute (Mnty and Trustee). marketing mix factors such as access to appropriate Institutions should try to obtain an appropriate share of services and providing services to customers quickly and the market by studying the market, applying marketing *Corresponding author. E-mail: [email protected]. Pour et al. 3273 mix variables, using appropriate methods of distribution "Marketing management opportunities, including analy- and supplying of goods and services and be aware of the sis, planning, implementation, execution and monitoring campaign and identification of opportunities. They should of programs to establish and maintain a favorable attract more resources to deal with scientific creativity exchange markets aim to achieve organizational goals. and innovation to meet customers‘ needs; and match Thus marketing management or demand management, resources to increase market share and take care of supply and demand caused by or in the form of customers. Strengthening financial markets in the country motivation is essential (Alvdary, 1387). for its economic development and saving of resources for According to the Marketing Association of America, the health of the economy seem to be necessary. The ‗‘marketing is the process of planning; the realization of savings rate in the banking and credit system and an idea, pricing, advertisement and distribution of goods financial institutions can lead to increased investment and and services, where the exchange makes the individual economic growth. and the organization in it a reality (Cutler, 2000; Belch In Iran, the main hub of the financial markets, banks and Belch, 2001). The art and science of marketing is to and financial institutions is the main source of capital for create or establish favorable conditions between supply buying products and services, granting loans and as the and demand. The main task of marketing is to meet funding source for all economic units in the country. In product and service needs of customers and focus on banks and institutions, appropriate activities and effective target market (Frank, 1994). use of marketing are very effective for achieving their Marketing involves activities that provide a compre- goals. A significant number of banks and institutions need hensive definition. Marketing experts raise their own to make more use of marketing variables in order to vision based on these activities. Some of the definitions increase resources to customers. Apart from these of marketing involve a group of activities that take place categories in which the bank is not required in this in the market and others include the ways marketers research, institutions have found the effect of competition have to comply with the definition. Table 1 shows some with some of the marketing mix strategies for increasing of these definitions. their deposits and investments. The art of marketing entails carrying the correct amount and quality of product or service to meet the need of customers at the right place and time, and ensuring that Marketing customers benefit from its activities (Arto and Sample, 2005). In the 1960s, the term was common in marketing. It says Today, advertisement is to be considered as part of everything starts with consumer‘s needs and de- marketing territory and all economic activities including mands. Marketing and market management, an important manufacturing, distribution of a wide range of services, branch of knowledge management, is the main task of the management of sales and production and sales of understanding people‘s needs and desires and help them goods and services. through the process; a process where resources are In summary, the designing, manufacturing, packaging, exchanged. Society needs are increasing today more distribution and sale of goods and services to consumers, than ever, especially with the growing shortage of human which ultimately lead to customers‘ satisfaction play an and other resources. Managers are faced with limited important role (BolurianTehrani, 1376). In marketing resources available to meet those demands which are services, field marketing is important. Service activities unlimited; but knowledge management is here to help the include features such as intangibility, indiscernible and economy scientifically as well a set of skills and being different and impossibility (Pickton and Broderick, knowledge for the optimal use of limited resources. 2001). The exchange of product marketing and marketing Marketing also needs to recognize the efforts put up by services with the different goods and services between the exchange of resources (Venus, 1386). Marketing is a the same characteristics such as inseparable, intangi- social and managerial process by which needs and bility, lack of maintenance and service is different desires of individuals and groups are provided through (Murrar, 1995). In recent years, branches and wide the production, supply and exchange of useful goods variety of services in the market over several service (Holm, 2006). centers are more tangible (Table 2). Marketing management can be defined as follows: "The analysis, planning, implementation and monitoring of programs to create, provide and maintain a profitable Marketing mix transactions process with the buyers, in order to achieve organizational goals (Cutler, 2000). ‖Marketing manage- This is a set of controllable elements of marketing tools ment is the analysis, planning, implementation and and marketing strategies of a company in combining controlling of programs to achieve organizational goals. It these elements. Cutler says that a set of marketing mix involves programs made to establish and maintain variables can be controlled by the marketing companies beneficial exchanges with buyers (Lavak, 1382). and institutions in their target market and its composition 3274 Afr. J. Bus. Manage. Table 1. Definitions of marketing (Researcher). Scholar Year Definition Chisnall 1992 Marketing means finding a suitable position in the market Understanding what people want and seek in a market and supply and provision of Mei 2011 goods and services to meet their needs and achieve goals. Cohen 1998 The marketing activities such as buying and selling of goods, transport and storage. A series of activities called the flow of commercial goods and services
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