Download The Impact of Elements of the Market Communication Mix

International Journal of Sales & Marketing
Management Research and Development (IJSMMRD)
ISSN(P): 2249-6939; ISSN(E): 2249-8044
Vol. 4, Issue 3, Jun 2014, 37-58
© TJPRC Pvt. Ltd.
THE IMPACT OF ELEMENTS OF THE MARKET COMMUNICATION MIX ON
CUSTOMERS’ SERVICE QUALITY PERCEPTIONS: A FINANCIAL SECTOR
PERSPECTIVE
FRANCIS KOFI SOBRE FRIMPONG
Lecturer, Accra Institute of Technology, Accra, Greater Accra Region, Ghana
ABSTRACT
Each element of the marketing communication mix has a unique dimension of impact on customer satisfaction
through customers’ service quality perceptions. This study aimed at examining the individual impacts of each element of
the market communication mix on customers’ service quality perceptions. Secondary data on advertising, sales promotion,
public relations, personal selling, direct marketing, events management and customers’ service quality perceptions from
five (5) each of banks, non-bank financial institutions and insurance companies were analysed using Pearson’s product
moment correlation, partial correlation and ordinary least squares regression analysis. According to findings, customers’
service quality perceptions were significantly predicted by advertising (p = .001) and personal selling (p = .007) with a
variability of 87.6%; but public relations (p = .273), sales promotions (p = .290), events management (p = .572) and direct
marketing (p = .121) were not significant predictors of customers’ service quality perceptions. However, each of
advertising, personal selling, sales promotions, direct marketing, events management and public relations significantly
positively related to customers’ service quality perceptions at p < .05. The relationship between customers’ service quality
perceptions and personal selling was significantly moderated by advertising, public relations, sales promotions, direct
marketing and events management at p < .05. It has been recommended that financial institutions give priority to
channelling a greater part of their marketing budget on advertising and personal selling.
KEYWORDS: Communication, Market Communication Mix, Service Quality, Service Quality Perception, Financial
Sector
INTRODUCTION
Business growth in the financial sector is largely accounted for by marketing operations in financial institutions
(Kotler & Armstrong, 2010). Similarly, many organisations owe their financial success and growth to their marketing
strategy (Wellman & Molander, 2008; Kotler & Armstrong, 2010). Though an organisational may increase its business
risks by channelling much of its financial resources to marketing, its revenues and goodwill are driven by marketing spend
and activities. According to Paliwoda (2010), marketing is the platform on which customers’ demand and preferences are
known. Moreover, it forms the basis for designing products, branding the organisation and adopting appropriate
communication processes that integrate the organisation to its public place (Paliwoda, 2010; Owen & Humphrey, n.d.).
At large, marketing operations determine and monitor superior service/product quality and customer satisfaction and
loyalty (Wellman & Molander, 2008).
Service quality and customers’ service quality perceptions are rooted in effective service delivery
(Zeithaml, Parasuraman & Berry, 1990). Moreover, the effectiveness of service delivery is significantly influenced by how
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38
Francis Kofi Sobre Frimpong
well the organisation uses relationship marketing to serve and relate with customers and potential customers
(Wellman & Molander, 2008; Lifebvre, 2000). Tools and strategies of marketing communication (MC) are therefore often
useful
in
an
organisation’s
technical
endeavour
to
deliver
services
to
the
satisfaction
of
customers
(Kondracki & Amundson, 2002). Customer satisfaction is driven by customers’ service quality perceptions
(Cengiz & Yayla, 2007; Arokiasamy, 2012).
Research has shown that an effective application of tools and strategies of marketing communication influences
customer satisfaction by favourably impacting customers’ service quality perceptions (Arokiasamy, 2012; Manisha, 2012;
Mahyari, 2010). The research of Manisha (2012) gives clear distinctions between the individual impacts of tools of
marketing communication on customers’ service quality perceptions. Moreover, productivity of marketing communication
tools in terms of customer satisfaction depends on how suitable they are to service delivery and tasks of communication
with customers in the organisation. This viewpoint is supported and acknowledged by Fill & Jamieson (2011). As a result,
MC is said to be relevant to the maximum productivity of service companies (Manisha, 2012; Fill & Jamieson, 2011),
especially financial service companies (Manisha, 2012)
In most economies like the Ghanaian economy, the service industry makes the highest contribution to DGP
growth. In 2013, for instance, the service industry of Ghana makes 50.6% contribution to GDP (Ghana Statistical Service,
2013). Moreover, the financial service sector is one of the greatest boosters of the service industry in Ghana in terms of
employment or job creation (Ghana Statistical Service, 2013; UN World Economic Situation and Prospects, 2013).
Therefore, the financial service sector deserves utmost attention by economists, financial institutions and researchers to
maximise its potential for economic development.
In ensuring maximum growth in the financial sector, financial institutions must be able to leverage on marketing
communication in improving or sustaining desired customer patronage (Kotler & Armstrong, 2010; Mahyari, 2010;
Manisha, 2012). Customer patronage sustainability is driven by customers’ service quality perceptions (Manisha, 2012;
Cengiz & Yayla, 2007). Financial institutions, researchers and the general public require ample knowledge about the
relationship between each tool of the marketing communication mix and customers’ service quality perceptions. This is
expected to facilitate the development of effective policies of marketing communication and service quality attainment.
Though established by Manisha (2012), Arokiasamy (2012), Cengiz & Yayla (2007) few researchers, the individual
impacts of each element of the marketing communication mix, precisely advertising, sales promotions, personal selling,
direct marketing, events management and public relations, on customers’ service quality perceptions is not sufficiently
justified empirically. The body of researches available on this subject must therefore be enlarged to sufficiently justify the
need to consider each tool of the marketing communication mix in maximising service quality and customer satisfaction in
the financial sector.
This paper examines the relationship between each element of the marketing communication mix and customers’
service quality perceptions.
STATEMENT OF THE PROBLEM
The marketing communication mix has extensive application in financial services delivery (Mahyari, 2010;
Manisha, 2012), as each of its tools positively influence customers’ service quality perceptions and loyalty (Manisha, 2012;
Cengiz & Yayla, 2007). Moreover, each element of the marketing communication mix; precisely advertising,
Impact Factor (JCC): 5.3064
Index Copernicus Value (ICV): 3.0
The Impact of Elements of the Market Communication Mix on Customers’
Service Quality Perceptions: A Financial Sector Perspective
39
sales promotions, personal selling, direct marketing, events management and advertising, impacts customers’ service
quality perceptions at different levels (Manisha, 2012). Though customers’ service quality perceptions forms a basis of
customer loyalty (Morgan & Hunt, 1994), there is limited number of researches that examine the impact of the marketing
communication mix on it (Manisha, 2012; Porcu et al. 2012). This problem is worse, considering researches that expose
the individual impacts of each element of the marketing communication mix on customers’ service quality perceptions in
the financial sector (Manisha, 2012). In other words, the body of available researches that identifies the individual impact
of each tool of the marketing communication mix on customers’ service quality perceptions in the financial sector is very
scant. As a result, financial institutions are likely to undermine the integration of the marketing communication mix into
business growth or service quality attainment strategies. In the face of this problem, it is also very likely that financial
institutions would not be able to identify the need to fine-tune practices of marketing communication to customers’ service
quality expectations.
This paper therefore seeks to examine and expose the individual impact of each element of the marketing
communication tool on customers’ service quality perceptions in the financial sector of Ghana.
RESEARCH OBJECTIVE
This paper seeks to assess the impact of elements of the marketing communication mix, namely advertising,
personal selling, sales promotion, events management, direct marketing and public relations, on customer’s service quality
perception in the delivery of financial services. The study contributes to the limited body of researches available on the
subject in a Ghanaian context.
LITERATURE REVIEW
There are various definitions of marketing. These definitions are influenced by historical changes in marketing
practice (Kotler & Armstrong, 2010). Marketing is defined as the “establishment of mutually satisfying exchange”
(Barker, 2001, p. 1). It is about “managing profitable customer relationships” (Kotler & Armstrong, 2006, p. 4). Later, this
definition was reviewed to become “the process by which companies create value for customers and build strong customer
relationships in order to capture value from customers in return” (Kotler & Armstrong, 2010, p. 29). Marketing has two
basic goals. The first is to attract new customers by promising superior value, while the second goal is to keep and grow
current customers by delivering satisfaction (Kotler & Armstrong, 2010). Consequently, the function of marketing is to
identify customer needs, and to provide products or services that meet some or all of those needs accessibly and at an
acceptable price to the target market (Stapleton & Ali, 2007).
The above definitions share some common features. Firstly, they focus on the identification and satisfaction of
customers’ needs to yield organisational benefits. Moreover, they strongly uphold the need for a strong and mutual
relationship between customers and the organisation. This second commonality is the basis of marketing communication
within the organisation (Andersen, 2001; Akerlund, 2004). This applies to the financial industry as well, where service
delivery is worked out in the rigor of receptive customer-organisation relationship using principles and tools of integrated
marketing communication (Manisha, 2012; Fill & Yeshin, 2001). Service delivery in the financial industry largely employs
customer-organisation relationship management (Manisha, 2012), and the management of customer-organisation
relationship is facilitated with tools and principles of marketing communication (Mahyari, 2010), where marketing
communication forms part of the Marketing Process Model (Kotler & Armstrong, 2006).
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Francis Kofi Sobre Frimpong
The Marketing Process Model is an adaptation from Kotler & Armstrong (2006). It comes with five distinct
features. The first element of this model requires an understanding of the market place and customer needs and wants.
The second element of the model touches on the relevance of a customer-driven marketing strategy. Within the third
element of the model, the need to construct a marketing program that delivers superior value is projected, and this makes a
link to building profitable relationships and creating customer satisfaction in the fourth stage. In the final stage of the
model, the organisation is expected to capture value from customers to create profits and customer quality. It is worth
noting that the second, third and fourth attributes of the model constitute marketing communication (Kotler & Armstrong,
2006; Wellman & Molander, 2008). The following is a diagrammatic representation of the Marketing Process Model.
Figure 1: The Marketing Process Model
Source: Adapted from Kotler & Armstrong (2006)
In Figure 1, it becomes evident that marketing communication is embedded in the marketing process, as argued by
Fill & Yeshin (2001) and Manisha (2012). Marketing communication is therefore a strategic part of processes employed by
service firms (Wellman & Molander, 2008), especially financial institutions in financial service delivery (Manisha, 2012;
Schultz et al. 2007; Ekhlassi, Maghsoodi & Mehrmanesh, 2012). As a result, financial institutions ought to give priority to
how to match the individual tools of MC to key activities of service delivery (Manisha, 2012; Wellman & Molander,
2008). In a nutshell, MC is an inherent part of the marketing process model and a precursor to making value from
customers through generated profits; the organisation cannot generate profits or capture value from customers without a
productive use of MC tools.
Effective communication is basic to strategies to result-oriented marketing (Mahyari, 2010; Lifebvre, 2000).
To communicate effectively, however, marketers need to understand how communication works. Communication involves
the nine elements shown in Figure 2 (Kotler & Armstrong, 2010; Schultz et al. 2007). Two of these elements are the major
parties in a communication: the sender and receiver (Kotler & Armstrong, 2010; Wellman & Molander, 2008).
Another two are the major communication tools: the message and the media (Kotler & Armstrong, 2010). There are four
more in communication functions: encoding, decoding, response, and feedback (Kotler & Armstrong, 2010; Wellman &
Molander, 2008). The last element is noise in the system (Kotler & Armstrong, 2010; Akerlund, 2004).
In the communication process, the sender is the party sending the message to another party, the receiver
(Kotler & Armstrong, 2010). Encoding is the process of putting thoughts into symbolic forms in the communication
process (Akerlund, 2004; Ekhlassi et al. 2012), where a message is a set of symbols that the sender transmits
(Kotler & Armstrong, 2010). The media makes the communication channels through which the message moves from
sender to receiver (Akerlund, 2004; Ekhlassi et al. 2012). Decoding is the process by which the receiver assigns meaning to
the symbols encoded by the sender (Kotler & Armstrong, 2010). Decoding leads to a response, which is the reaction of the
receiver after being exposed to the message (Akerlund, 2004; Ekhlassi et al. 2012). Feedback is the part of the receiver’s
response communicated back to the sender (Akerlund, 2004; Ekhlassi et al. 2012). Noise is the unplanned static or
Impact Factor (JCC): 5.3064
Index Copernicus Value (ICV): 3.0
41
The Impact of Elements of the Market Communication Mix on Customers’
Service Quality Perceptions: A Financial Sector Perspective
distortion during the communication process, which results in the receiver’s getting a different message than the one the
sender sent (Akerlund, 2004; Kotler & Armstrong, 2010; Ekhlassi et al. 2012).
Figure 2: The Communication Model
Source: Adapted from Kotler & Armstrong (2010); Akerlund, (2004) and
Ekhlassi et al. (2012)
This model points out several key factors in good communication. Senders need to know what audiences they
wish to reach and what responses they want. They must be good at encoding messages that take into account how the target
audience decodes them. They must send messages through media that reach target audiences, and they must develop
feedback channels so that they can assess the audience’s response to the message. For a message to be effective, the
sender’s encoding process must mesh with the receiver’s decoding process (Kotler & Armstrong, 2010). Therefore, the
best messages consist of words and other symbols that are familiar to the receiver. The more the sender’s field of
experience overlaps with that of the receiver, the more effective the message is likely to be (Ekhlassi et al. 2012).
Marketing communication (MC) constitutes all the promotional elements of the marketing mix that involves
communication between an organisation and its target audiences on all matters that would affect its marketing performance
(Akerlund, 2004, Picton & Broderick, 2001). The term “target audience” is defined as “individuals or groups that are
identified as having a direct or indirect effect on business performance and have been therefore selected to receive
marketing communication” (Akerlund, 2004, p. 25). Schultz et al. (2007) also defines MC as a process through which
companies accelerate returns by aligning communication objectives with corporate goals (p. 7). Porcu et al. (2012) defines
it as a concept that directs and coordinates the process of planning, implementing and supervising brand messages by
which brand-customer relationship is built. Observably, the definitions of Akerlund (2004), Picton & Broderick (2001) and
Porcu et al. (2012) project MC as a process used to integrate the organization, its customers and stakeholders who would
influence customer patronage.
The concept of Integrated Marketing Communication (IMC) bears the merits of different marketing
communication disciplines and the value of using a combination of these disciplines to maximize the effects of the
organization’s communications that customers encounter through clarity and consistency (Belch & Belch, 2009, p. 11).
Originally, IMC was developed to manage outgoing organizational communications; but it currently involves the
co-ordination of incoming communication as well (Schultz et al. 2007). IMC has evolved to include communication that
integrates customers and the organization (Kotler &Armstrong, 2006), rendering it a more customer-focused marketing
management process (Rawal, 2013).
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IMC embraces identifying the target audience and designing a well-coordinated promotional program to elicit the
desired audience response (Kotler & Armstrong, 2010; Fill & Jamieson, 2011). Marketing communications focus on
overcoming immediate awareness, image, or preference problems in the target market (Kotler & Armstrong, 2010).
However, this approach to communication has limitations; thus it is too short term and too costly, and most messages of
this type fall on deaf ears (Kotler & Armstrong, 2010; Fill & Jamieson, 2011). Marketers are moving toward viewing
communications as managing the customer relationship over time, during the preselling, selling, consuming, and
post-consumption stages. Owing to the fact that customers differ, communications programs need to be developed for
specific segments, niches, and even individuals (Rawal, 2013; Kotler & Armstrong, 2010). Given the new interactive
communications technologies, companies ought to ask not only “how can we reach our customers?” but also “how can we
find ways to let our customers reach us?” (Kotler & Armstrong, 2010).
Kotler & Armstrong (2010) therefore recommended that the communications process should start with an audit of
all the potential interactions that target customers may have with the product and company. In view of this
recommendation, they gave this example: “someone purchasing a new computer may talk with others, see television
commercials, read articles and ads in newspapers and magazines, and try out computers in the store” (p. 547). Marketers
must assess the influence that each of these communications experiences will have at different stages of the customer
patronage process. This understanding will help them allocate their communication budgets more efficiently and
effectively.
IMC is driven by three forces (Schultz & Schultz, 2004). They include (Schultz & Schultz, 2004): (1)
technological advancements that have influenced all operations of the organization; (2) greater emphasis on brands for
competitive differentiation; and (3) effects of globalization across geographic boundaries. For IMC to be effective, it must
embrace the entire operational behavior of the organization (Schultz & Schultz, 2004; Kotler & Armstrong, 2010).
This way, IMC becomes a productive tool in integrating marketing and non-marketing activities in the organization
(Schultz et al. 2007).
Eight (8) guiding principles have been developed by Schultz & Schultz (2004) for implementing value-oriented
IMC. The first principle requires that the organization becomes customer-centric. Thus the customer must become the main
focus of the entire organization. This makes a parallel with the argument of Kotler & Armstrong (2006) that it is better to
satisfy existing customers than to strive to win new ones. The second guiding principle stands for using outside-in
planning, which acknowledges that not all customers of the organization have equal value to the organization
(Schultz & Schultz, 2004). The IMC approach in financial service delivery is to satisfy and keep customers to cultivate
future growth (Manisha, 2012). Thirdly, the guiding principle in value-laden IMC is to focus on total customer experience
(Schultz & Scultz, 2004). This requires that IMC is carried out to recognize every experience of the customer with the
organization and its financial services; the organization must not address only marketing communication activities to which
the customer is exposed.
Additionally, the fifth principle stipulates that customer goals are matched with those of the organization
(Schultz & Schultz, 2004). Thus, the organization must align market communication objectives to corporate goals. It is also
critical within the organization to establish customer behavior targets (Schultz & Schultz, 2004; Schultz et al. 2007). In this
vein, Schultz & Schultz (2004) argued that customer behavior is influenced to gain new customers; retain current
customers; seek growth from existing customers, and migrate customers through the organization’s portfolio of offerings.
Impact Factor (JCC): 5.3064
Index Copernicus Value (ICV): 3.0
The Impact of Elements of the Market Communication Mix on Customers’
Service Quality Perceptions: A Financial Sector Perspective
43
As a central part of the sixth guiding principle, Schultz & Schultz (2004) advocated that customers must be treated as
assets. This is owing to the fact that revenue or profits are made from customers; hence customers must be treated as assets
from which financial growth is derived. The seventh guiding principle of value-oriented IMC requires the streamlining of
functional activities, which involves the mirror consumer’s perception of marketing communication, namely all activities
into two deliverables: messages and incentives (Schultz & Schultz, 2004). The final guiding principle of value-laden IMC
by Schultz & Schultz (2004) requires the convergence of marketing communication activities. Thus, the organization must
incorporate digital communication activities into traditional marketing communication activities.
Based on an adaptation of the eight guiding principles of value-laden IMC, Schultz & Schultz (2004) developed a
five-stage model that makes up the IMC process. Figure 3 comes with an illustration of this model.
Figure 3: A Model of the IMC Process
Source: Schultz & Schultz (2004, p. 64)
The splitting of marketing communication into messages and incentives improves strategic focus with the
deployment of communication through suitable delivery methods (Schultz & Schultz, 2004). The suitable communication
delivery methods are embedded in Schultz & Schultz’s (2004) IMC model of brand contact delivery systems. According to
this model, the creation of customer/prospects exposure is driven by the deployment of messages and incentives, which
must both be relevant and receptive to the customer. As to whether messages and incentives are relevant and receptive to
the customer depends on components of the delivery system. The delivery system is basically made up of the product and
its use, channel, traditional media, electronic media and special events. As part of this model, a product must be well
packaged to warrant its use by customers, where the channel of delivery of a product can be directed by the marketer or
undirected by any other stakeholder/member in the organization. The traditional access media uses radio, TV and
magazines in the deployment of messages, outdoor signage and direct marketing. The electronic media includes wireless
network (i.e. phones) and wired network (i.e. internet search engines and website). In the model, special events are
considered as natural (i.e. holidays) or sponsored (i.e. sports, cultural and trade). The productivity of IMC is said to be
driven by how Schultz & Schultz’s (2004) IMC model of brand contact delivery systems is implemented (Schultz et al.
2007).
There are four basic reasons why a marketer would like to employ IMC. These involve to inform customers and
stakeholders of a service or any situation within the organization (Akerlund, 2004; Rawal, 2013); to persuade customers
and potential customers about the efficacy and credibility of a service or policy (Rawal, 2013); to create an image of the
organization (Akerlund, 2004) and to reinforce the transmission of a message to target audiences (Akerlund, 2004). In the
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face of an effective marketing communication process, the organization is advantaged in creating customer awareness on
products, services and policies towards improved patronage, customer satisfaction or/and customer loyalty (Rawal, 2013;
Fill & Yeshin, 2001). An effective marketing communication process is the one in which each IMC tool is appropriately
and suitably applied to produce expected results in service delivery (Porku et al. 2012. Manisha, 2012). To better
understand the productivity of each tool of IMC in financial service delivery, there is the need to review the marketing
communication mix and the extent to which each tool of IMC becomes applicable in service delivery in the context of the
above communication models.
According to Kotler & Armstrong (2010), the organisation’s total marketing communications mix consists of the
specific blend of advertising, personal selling, sales promotion, direct marketing, events and public relations that it uses to
pursue its advertising and marketing objectives. Advertising deals with any paid form of non-personal presentation and
promotion of ideas, goods, or services by an identified sponsor (Kotler & Armstrong, 2010). The organisation has various
options of advertising, but it must endeavour to use of the most cost-effective and customer-cantered option
(Kotler & Armstrong, 2010; Schultz et al. 2007) in the marketing of services (Manisha, 2012; Fill & Wellman, 2008).
Another element of the IMC mix is personal selling, which is the personal presentation by the firm’s sales force to make
sales and build customer relationships (Porcu et al. 2012; Kotler & Armstrong, 2010; Rawal, 2013; Owen & Humphrey,
n.d.). According to Manisha (2012), personal selling is suitable to winning new customers, though it is equally suitable for
delivering services to the expectation of existing customers (Tawal, 2013). Sales promotion is a short-term incentive to
encourage the purchase or sale of a product or service (Kotler & Armstrong, 2012). Sales promotion offers an opportunity
for the organisation to reward existing customers and to attract new customers (Kotler & Armstrong, 2010; Fill & Rawal,
2013). Public relations embraces building good relations with the company’s publics by obtaining favourable publicity,
building up a good “corporate image,” and handling or heading off unfavourable rumours, stories, and events (Kotler &
Armstrong, 2010; Rawal, 2013). According to Porcu et al. (2012), direct marketing touches on direct communications with
carefully targeted individual consumers to obtain an immediate response; the use of mail, telephone, fax, e-mail, and other
non-personal tools to communicate directly with specific consumers or to solicit a direct response.
Advertising includes print, broadcast, outdoor, and other alternatives (Kotler & Armstrong, 2010). Personal
selling includes sales presentations, trade shows, and incentive programs (Kotler & Armstrong, 2010; Rawal, 2013;
Owen & Humphrey, n.d.), where sales promotion includes point-of-purchase displays, premiums, discounts, coupons,
specialty advertising, and demonstrations (Kotler & Armstrong, 2010; Rawal, 2013). Direct marketing includes catalogues,
telemarketing, fax transmissions, and the Internet (Schultz et al. 2007). Improved technology has made it possible for
organizations to communicate through traditional media (i.e. newspapers, radio, telephone, and television), as well as its
newer forms (fax machines, cellular phones, pagers, and computers) (Kotler & Armstrong, 2010). Moreover, emerging
technologies have encouraged more companies to move from mass communication to more targeted communication and
one-on-one dialogue (Kotler & Armstrong, 2010; Rawal, 2013).
In modern times, market communication goes beyond these specific IMC mix tools (Kotler & Armstrong, 2010;
Ekhlassi et al. 2012). The product’s design, its price, shape and packaging, and the stores that sell it communicate
something to customers (Mahyari, 2010; Ekhlassi et al. 2012). Invariably, although the promotion mix is the company’s
primary communication activity, the entire marketing mix of promotion and product, price, and place must be coordinated
for greatest communication impact.
Impact Factor (JCC): 5.3064
Index Copernicus Value (ICV): 3.0
45
The Impact of Elements of the Market Communication Mix on Customers’
Service Quality Perceptions: A Financial Sector Perspective
The most fundamental arms of marketing have been recognised to be service marketing or transactional (product)
marketing (Graham, 1993; Kotler & Armstrong, 2006). Kotler & Armstrong (2010) argue that marketing communication is
largely employable in both services marketing and transactional marketing. In practice, marketing communication has been
productive in both aspects of marketing (Manisha, 2012; Schultz & Schultz, 2004). Yet, MC has effective large-scale
application in service marketing and delivery (Manisha, 2012; Fill & Jamieson, 2011), especially financial service delivery
(Manisha, 2012). Fill & Jamieson (2011) argued that if financial services are to meet their quality expectations,
marketing communication must play its basic role. This agrees with the argument that service quality in the financial
services industry in mainly influenced by integrated marketing communication (Kotler & Armstrong, 2006;
Andersen, 2001). In practice therefore, the acknowledgement of MC-based models in financial services delivery must be
done in the context of service quality models.
Service quality is the comparison of expectations with performance (Lewis & Booms, 1983). Service quality is also
defined by Harvey (1998, p. 587) as the degree to which services meet the expectations of customers. Based on the above
two definitions, service quality can be said to be a measure of how close service delivery is to what customers, clients or
consumers expect. The basic purpose of service quality measures within the organization is to meet customer demands and
needs at the highest level of their satisfaction (Cronin, 2003). Also, service quality assurance is driven by management
motives against competition. To this end, service quality is for meeting customer demands basically to avoid loss of
customers to better services (Lewis & Booms, 1983). This brings to light the fact that service quality drives customer
loyalty and retention.
Service quality is said to be operationally driven by factors such as service reliability, timeliness, appropriateness,
credibility, adequacy and sustainability (Cronin, 2003; Harvey, 1998; Asplund, 2001). Additionally, these factors are more
suitable for service organisations such as financial institutions, insurance firms and business process outsourcing (BPO).
In this vein, financial institutions have applied a model of these factors in promoting service quality (Cronin, 2003).
Theories on service quality have spanned from 1970’s till recent times (Harvey, 1998). Models like the technical
and functional quality model, the gap model, the EPNQ model and many others had viewed and argued on what
dimensions should be considered as important in service quality. The consistently growing body of literature on service
quality suggests that two schools of thought dominate the argument on service quality; the English school of thought based
on Gronroos’(1984) two-dimensional model and the North American school of thought based on Parasuraman et al. (1988)
five-dimensional model, the SERVQUAL. Considering other significant conceptual and empirical works in the area, it
generally appears service quality encompasses (1) customers’ experiences with the tangibles, reliability, responsiveness,
assurance, and empathy aspects of the services delivered by a firm (Parasuraman et al., 1988); (2) technical and functional
quality (Gronroos, 1984); (3) service product, service environment, and service delivery (Rust & Oliver, 1994); and (4)
interaction quality, physical environment quality, and outcome quality (Cronin, 2003) and many more.
However, some services are produced and consumed instantly than others; for example financial services are
consumed instantly and have a close interface in terms of staff and customer interactions than telecommunications
(Manisha, 2012). In view of this the integration of relationship management and marketing communication in financial
service delivery is fundamental to success (Manisha, 2012; Fill & Jamieson, 2011). A popular argument is that effective
relationships management is imperative for service quality and subject to a good strategy of marketing communication in
the financial organisation (Paliwoda, 2010; Birmingham 2002; Manisha, 2012). In essence, achieving the goal of service
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Francis Kofi Sobre Frimpong
quality is primary to the marketing spend of banks (Manisha, 2012); yet service quality assurances are embedded in the
marketing communication mix that intersects with the Morgan & Hunt (1994) relationship marketing strategy (Kotler &
Armstrong, 2006; Manisha, 2012).
The relationship between each element of the marketing communication mix and customers’ service quality
perceptions is upheld in the research of Manisha (2012). In his study, Manisha (2012) found that advertising,
personal selling, sales promotions, direct marketing, events management and public relations positively relates to
customers’ service quality perceptions. This implies that increased engagement in each activity of the market
communication mix enhances customers’ service quality perceptions. Moreover, advertising, personal selling, sales
promotions, direct marketing, events management and public relations are significant predictors of customers’ service
quality perceptions (Manisha, 2012; Arokiasamy, 2012; Cengiz & Yayla, 2007). According to Arokiasamy (2012),
the relationship between customers’ service quality perceptions and personal selling is moderated or empowered by
advertising, public relations, direct marketing, events management and sales promotions. The moderating role played by
advertising, public relations, direct marketing, events management and sales promotions in this vein facilitates customers’
service quality perceptions through personal selling (Arokiasamy, 2012; Cengiz & Yayla, 2007).
HYPOTHESES
Based on the above reviewed theoretical and empirical literature, this paper focuses on testing the following null
hypotheses:
H0: Each of advertising, personal selling, sales promotion, events management, direct marketing and public
relations does not significantly relate to customers’ service quality perceptions.
H02: Advertising, sales promotion, events management, direct marketing and public relations have no moderating
effect on the relationship between customers’ service quality perceptions and personal selling.
H03: Advertising, sales promotion, personal selling, events management, direct marketing and public relations do
not significantly predict customers’ service quality perceptions.
METHODS AND MATERIALS
This study adopted a quantitative or deductive research in the context of a secondary data analysis.
The quantitative research technique constituted a platform for testing hypotheses. The researcher used 2013 market
research data from five (5) each of banks, non-bank financial institutions and insurance companies, which are the primary
players of Ghana’s financial sector. The criterion of selecting a financial institution in this study was availability of
secondary data on all variables, namely customers’ service quality perceptions, advertising, sales promotions, personal
selling, events management, direct marketing and public relations. Data obtained from the financial institutions represent
customers’ service quality perceptions and the level (number of times) of engagement in advertising, sales promotions,
personal selling, events management, direct marketing and public relations by the financial institutions in the year 2013.
For each financial institution, the average of data associated with each variable was used. Fifteen (15) financial institutions
were considered in this study, with each variable having 15 data items.
Secondary data were obtained from the marketing departments of the participating financial institutions after a
formal request was written to the heads of marketing and human resources departments.
Impact Factor (JCC): 5.3064
Index Copernicus Value (ICV): 3.0
47
The Impact of Elements of the Market Communication Mix on Customers’
Service Quality Perceptions: A Financial Sector Perspective
Data analysis was done using SPSS. The first research hypothesis was analysed using Pearson’s product moment
correlation test. The second research hypothesis was tested using partial correlation test. The third research hypothesis was
tested using ordinary least squares (OLS) regression analysis. These statistical tools were used owing to the fact that data
used in this study were continuous. These tools were used under the assumption that data associated with variables have
the characteristic features of a normal distribution. The Shapiro-Wilk’s test of normality was used to verify data normality.
RESULTS
In this section, findings are presented on the three null hypotheses of this study. All hypotheses are tested at 5%
significance level. Moreover, the broad assumption governing the test of these hypotheses is that data associated with
variables of this study take the characteristic features of a normal distribution.
Table 1: Shapiro Wilk’s Test
Shapiro-Wilk
Statistic
.855
df
15
Sig.
.090
Personal Selling
.947
15
.482
Sales promotions
.913
15
.151
Public relations
.962
15
.725
Direct marketing
.883
15
.052
Events management
.973
15
.896
Customers' service
quality perceptions
.947
15
.481
Advertising
Table 1 is the Shapiro Wilk’s test of normality. This test is used to verify the assumption that data associated with
variables of this study have the characteristic features of a normal distribution. In this vein, the null hypothesis is that data
of the variables have the characteristic features of a normal distribution. At 5% significance level, data of each of the
variables in Table 1 are normally distributed (p > .05). Thus data associated with advertising (p = .090), personal selling
(p = .482), sales promotions (p = .151), public relations (p = .725), direct marketing (p = .052), events management
(p = .896) and customers’ service quality perceptions (p = .481) are normally distributed at 5% significance level.
This implies that a primary condition required for this study’s conclusions to be valid is satisfied.
Table 2: Descriptive Statistics
Mean
Std. Deviation
N
Customers' service
quality perceptions
21.3331
11.298968
15
Advertising
21.0667
8.77062
15
Personal Selling
58.2000
20.59542
15
Sales promotions
8.5333
3.18179
15
Public relations
32.0667
16.22373
15
Direct marketing
18.4000
9.22574
15
Events management 21.1333
8.95917
15
Table 2 comes with the descriptive statistics for the dependent variable, customers’ service quality perceptions,
and independent variables. In the financial sector of Ghana, the most frequent marketing communication activity in the
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48
Francis Kofi Sobre Frimpong
year 2013 was personal selling (M = 58.20, SD = 20.60), followed by public relations activity (M = 32.07, SD = 16.22),
events management (M = 21.13, SD = 8.959), advertising (M = 21.07, SD = 8.77), direct marketing (M = 18.400,
SD = 9.226) and sales promotions (M = 8.53, SD = 3.18).
The first null hypothesis of this study is that each of advertising, personal selling, sales promotion, events
management, direct marketing and public relations does not significantly relate to customers’ service quality perception.
Tables 3 to 6 are associated with the test of this hypothesis at 5% significance level.
Table 3: Correlations (Customers' Service Quality Perceptions*Advertising)
Customers' Pearson Correlation
service
Sig. (2-tailed)
quality
N
perceptions
Customers' Service
Quality Perceptions
1
.877**
.000
15
Pearson Correlation
Advertising
Advertising
.877
Sig. (2-tailed)
15
**
1
.000
N
15
**. Correlation is significant at the 0.05 level (2-tailed).
15
Table 3 shows Pearson’s product moment correlation test. It tests the null hypothesis that advertising is not
significantly related to customers’ service quality perceptions. From the table, this hypothesis is significant at 5%
significance level, r (15) = .877, p = .000. There is therefore a higher tendency that the null hypothesis is not true and may
therefore be rejected. It could therefore be concluded that advertising significantly positively relates to customers’ service
quality perceptions. Invariably, the higher the number of advertising carried out by financial institutions, the better
customers perceived service quality.
Table 4: Correlations (Customers' Service Quality Perceptions*Personal Selling)
Pearson Correlation
Customers' service quality
Sig. (2-tailed)
perceptions
N
Customers' Service
Quality Perceptions
1
Pearson Correlation
Personal Selling
Sig. (2-tailed)
N
**. Correlation is significant at the 0.05 level (2-tailed).
Personal Selling
.838**
.000
15
.838
15
**
1
.000
15
15
Table 4 shows Pearson’s product moment correlation test between customers’ service quality perceptions and
personal selling. The null hypothesis states that personal selling does not significantly relate to customers’ service quality
perceptions. At 5% significance level, this test is significant, r (15) = .838, p = .000. There is therefore ample evidence to
say that increased personal selling activity enhances customers’ service quality perceptions. The null hypothesis could
therefore be rejected. It is worth saying that customers’ service quality perceptions increasingly become favorable to
financial institutions when the number of personal selling activities increases.
Impact Factor (JCC): 5.3064
Index Copernicus Value (ICV): 3.0
49
The Impact of Elements of the Market Communication Mix on Customers’
Service Quality Perceptions: A Financial Sector Perspective
Table 5: Correlations (Customers' Service Quality Perceptions*Sales Promotions)
Pearson Correlation
Customers' service
quality perceptions
Customers' Service
Quality Perceptions
1
Sig. (2-tailed)
.003
N
15
Pearson Correlation
Sales promotions
Sales
Promotions
.714**
.714
Sig. (2-tailed)
15
**
1
.003
N
**.Correlation is significant at the 0.05 level (2-tailed).
15
15
Table 5 comes with a Pearson’s correlation test between customers’ service quality perception and sales
promotions. The null hypothesis in this regard is that customers’ service quality perceptions are not significantly influenced
by sales promotions. This test is carried out at 5% significance level. From the table, the test is significant at 5%
significance level, r (15) = .714, p = .000. There is therefore a higher likelihood that increased sales promotion enhances
customers’ service quality perceptions in the financial sector of Ghana. The null hypothesis may therefore be rejected.
So, the higher the frequency of sales promotions carried out in the financial sector of Ghana, the better customers perceive
the service quality level of institutions.
Table 6: Correlations (Customers' Service Quality Perceptions*Public Relations)
Pearson Correlation
Customers' service
quality perceptions
Customers' Service
Public Relations
Quality Perceptions
1
.877**
Sig. (2-tailed)
.000
N
15
Pearson Correlation
Public relations
.877
Sig. (2-tailed)
15
**
1
.000
N
**. Correlation is significant at the 0.05 level (2-tailed).
15
15
Table 6 examines the influence of public relations on customers’ service quality perceptions. The null hypothesis
is that customers’ service quality perceptions are not significantly influenced by public relations activities. At 5%
significance level, this hypothesis is significant, r (15) = .877, p = .000. The null hypothesis is therefore rejected. Thus, the
higher the number of public relations activities carried out in the financial sector of Ghana, the better customers perceive
the service quality status of financial institutions. Considering outcomes in Tables 3, 4, 5 and 6, it is obvious that the first
null hypothesis is rejected. So, each of advertising, personal selling, sales promotion and public relations significantly
positively relates to customers’ service quality perceptions in the financial sector of Ghana.
Table 7: Correlations (Customers' Service Quality Perceptions*Direct Marketing)
Pearson Correlation
Customers' service
quality perceptions
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Direct Marketing
1
.837**
Sig. (2-tailed)
N
Direct marketing
Customers' Service
Quality Perceptions
Pearson Correlation
.000
15
.837
15
**
1
[email protected]
50
Francis Kofi Sobre Frimpong
Sig. (2-tailed)
.000
N
15
**. Correlation is significant at the 0.05 level (2-tailed).
15
Table 7 shows Pearson’s correlation test between direct marketing and customers’ service quality perceptions.
The null hypothesis is that there is no relationship between direct marketing and customers’ service quality perceptions.
From the table, this hypothesis is significant at 5% significant level, r (15) = .837, p = .000. Thus the hypothesis may be
rejected. It could be concluded that direct marketing has a positive relationship to customers’ service quality perceptions.
Invariably, the more frequent direct marketing activities are carried out by financial institutions, the better customers’
service quality perceptions.
Table 8: Correlations (Customers' Service Quality Perceptions*Events Management)
Pearson Correlation
Customers' service
quality perceptions
Customers' Service
Quality Perceptions
1
Sig. (2-tailed)
Events Management
.849**
.000
N
15
15
Pearson Correlation
.849**
1
Sig. (2-tailed)
.000
Events management
N
**. Correlation is significant at the 0.05 level (2-tailed).
15
15
Table 8 shows Pearson’s correlation test between number of events managed and customers’ service quality
perceptions. The null hypothesis is that there is no relationship between events management and customers’ service quality
perceptions. This test is done at 5% significance level. From the table, this hypothesis is significant, r (15) = .849, p = .000.
Thus the hypothesis can be rejected. It could therefore be concluded that events management has a positive relationship to
customers’ service quality perceptions. This implies that increased level of engagement in market events by financial
institutions enhances customers’ service quality perceptions.
Table 9: Partial Correlation Tests
Variables
Customers' service quality
perceptions*Personal selling
Customers' service quality
perceptions*Personal selling
Customers' service quality
perceptions*Personal selling
Customers' service quality
perceptions*Personal selling
Customers' service quality
perceptions*Personal selling
Controlled for
N
df
Original r
Controlled r
Sig.
Advertising
15
12
0.838
0.681
.007
Sales promotions
15
12
0.838
0.698
.006
Public relations
15
12
0.838
0.538
.045
Direct marketing
15
12
0.838
0.672
.008
Events
management
15
12
0.838
0.551
.041
Table 9 tests the second null hypothesis of this study. This hypothesis states that advertising, sales promotions,
events management, direct marketing and public relations have no moderating effect on the relationship between
customers’ service quality perception and personal selling. This hypothesis is tested at 5% significance level, from Table 9,
the original or uncontrolled relationship between customers’ service quality perceptions and personal selling has a
correlation coefficient of 0.838 with a significance level of p = .000. On the other hand, the controlled relationship,
Impact Factor (JCC): 5.3064
Index Copernicus Value (ICV): 3.0
51
The Impact of Elements of the Market Communication Mix on Customers’
Service Quality Perceptions: A Financial Sector Perspective
in terms of advertising, has a correlation coefficient of 0.681 at p = .007. This means that advertising empowers the
relationship between personal selling and customers’ service quality perceptions. This accounts for a lower correlation
coefficient and significance in the controlled relationship. Possibly, increased advertising enhances personally selling and
its effect on customers’ service quality perceptions.
A similar scenario is held when sales promotions (r = 0.698, p = .006), public relations (r = 0.538, p = .045),
direct marketing (r = 0.672, p = .008) and events management (6 = 0.551, p = .041) are controlled for. This implies that the
advertising, sales promotions, direct marketing, events management and public relations positively contribute to the
relationship between personal selling and customers’ service quality perceptions. The second null hypothesis is therefore
not accepted. Therefore, advertising, sales promotion, direct marketing, events management and public relations have a
significant moderating effect on the relationship between customers’ service quality perception and personal selling.
The third null hypothesis states that advertising, sales promotion, personal selling, direct marketing, events
management and public relations do not significantly predict customers’ service quality perceptions. For robustness sake,
the OLS regression, precisely the Enter and Stepwise methods, is used to test this hypothesis. The following tables test this
hypothesis. The Enter method helps to identify the predictive capability of the four independent variables (i.e. advertising,
personal selling, sales promotions and public relations), whereas the Stepwise method screens the model reached in the
Enter method by eliminating insignificant predictors.
Table 10: Model Summary
Model
R
1
.962a
Adjusted R Std. Error of
Square
the Estimate
.870
4.079084
R Square
.926
a. Predictors: (Constant), Events management, Sales
promotions, Direct marketing, Personal Selling, Public
relations, Advertising
Table 10 shows the model summary statistics under the Enter method of OLS regression. In the table, R Square
indicates that the four independent variables account for 92.6% of variability (influence) on customers’ service quality
perceptions. With the Adjusted R Square, the predictors account for about 87.0% of variability in customers’ service
quality perceptions. These estimates both reveal a strong predictive capability of the model. Thus advertising, personal
selling, sales promotions, direct marketing, events management and public relations strongly predict customers’ service
quality perceptions.
Table 11: ANOVAb
Model
Sum of Squares
Regression
1654.222
1 Residual
133.111
df Mean Square
F
6
275.704
16.570
8
Sig.
.000a
16.639
Total
1787.333
14
a. Predictors: (Constant), Events management, Sales promotions, Direct
marketing, Personal Selling, Public relations, Advertising
b. Dependent Variable: Customers' service quality perceptions
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Francis Kofi Sobre Frimpong
Table 11 is an F test that examines the linearity of the prediction of customers’ service quality perceptions by the
independent variables. At 5% significance level, the prediction of customers’ service quality perception by the independent
variables is significantly linear, F (6, 8) = 16.570, p = .000.
In Table 12 of Appendix A are the coefficients of this model and the significance tests of these coefficients.
From this table, the t-tests of sales promotions (p = .227), public relations (p = 867), direct marketing (p = .121) and events
management (p = .572) are insignificant at 5% level of significance. The t-tests for personal selling (p = .020) and
advertising (p = .031) are significant at 5% significance level. This implies that sales promotions, public relations,
direct marketing and events management are insignificant predictors of customers’ service quality perceptions,
whereas advertising and personal selling are.
The following tables deduce the models formed by the six predictors of customers’ service quality perceptions
after screening for insignificant predictors.
Table 12: Model Summary (Stepwise)
Model
R
R Square
Adjusted R
Square
Std. Error of the
Estimate
1
.877a
.769
.751
5.635074
2
.936b
.876
.856
4.294115
a. Predictors: (Constant), Advertising
b. Predictors: (Constant), Advertising, Personal Selling
Table 13 is the model summaries of the models formed in the stepwise regression analysis. Two models are
retrieved. The first has advertising as a sole predictor of customers’ service quality perceptions; the second has advertising
and personal selling as predictors of customers’ service quality perceptions. This suggests that sales promotions, direct
marketing, events management and public relations have been eliminated in the prediction of the outcome variable.
As a reminder, these four independent variables are insignificant predictors of the outcome variable in the Enter method,
and this account for their removal from the model in the Stepwise method. From Table 13, advertising alone accounts for
about 76.9% of variability in customers’ service quality perceptions. Advertising and personal selling account for about
87.6% of variability in the outcome variable, and this means personal selling accounts for about 10.7% of variability in the
outcome variable. Moreover, the two models formed portray advertising and personal selling as strong predictors. The R
Square values in Tables 10 and 13 indicate that sales promotions, events management, direct marketing and public
relations contribute a relatively small variability (influence) on the outcome variable. In essence, these four independent
variables do not predict customers’ service quality perceptions significantly.
Table 13: ANOVAc (Stepwise)
Model
Regression
1
Residual
Total
Regression
2
Residual
Total
Sum of Squares
df
Mean Square
F
Sig.
1374.531
1
1374.531
43.287
.000a
31.754
42.465
.000b
412.803
13
1787.333
14
1566.060
2
783.030
221.273
12
18.439
1787.333
14
a. Predictors: (Constant), Advertising
b. Predictors: (Constant), Advertising, Personal Selling
c. Dependent Variable: Customers' service quality perceptions
Impact Factor (JCC): 5.3064
Index Copernicus Value (ICV): 3.0
53
The Impact of Elements of the Market Communication Mix on Customers’
Service Quality Perceptions: A Financial Sector Perspective
Table 14 is an F-test that verifies the linearity of the prediction of customers’ service quality perceptions by
advertising alone and with personal selling. In both cases, the test is significant at 5% significant level (p = .000). In Table
15 of Appendix A are the t-tests of the coefficients of the two models. For the first model, advertising is a significant
predictor of the outcome variable (p = .000) at 5% significance level. For the second model, advertising (p = .001) and
personal selling (p = .007) are significant predictors of the outcome variable. As a result, it may be admitted that
customers’ service quality perceptions are significantly predicted by advertising and personal selling.
DISCUSSIONS
In this study, the relationship between each element of the marketing communication mix and customers’ service
quality perceptions, as found in the study of Manisha (2012), is supported. As confirmed by this study’s findings, Manisha
(2012) found that advertising, personal selling, sales promotions, public relations, direct marketing and events management
positively influence customers’ service quality perceptions. Invariably, increased engagement in each activity of the market
communication mix, namely advertising, sales promotions, public relations, personal selling, direct marketing and events
management enhances customers’ service quality perceptions (Arokiasamy, 2012; Cengiz & Yayla, 2007).
In addition, advertising, personal selling, sales promotions, events management, direct marketing and public
relations are significant predictors of customers’ service quality perceptions (Manisha, 2012; Arokiasamy, 2012;
Cengiz & Yayla, 2007). However, this study confirms only advertising and personal selling as significant predictors of
customers’ service quality perceptions, where sales promotions, events management, direct marketing and public relations
are not insignificant predictors. Additionally, the predictive capability of advertising and personal selling is very high.
In the study of Cengiz & Yayla (2007) and Manisha (2012), all elements of the marketing communication mix, but not just
advertising and personal selling, are strong predictors of customers’ service quality perception. From a personal
experience, the insignificance of sales promotions, event management, direct marketing and public relations in the
prediction of customers’ service quality perceptions could be attributed to the small sample size of this study and possibly
the fact that advertising must have absorbed much of the predictive influences of sales promotions, events management,
direct marketing and public relations. Unlike this study, the studies of Arokiasamy (2012), Cengiz & Yayla (2007) and
Manisha (2012) adopt relatively high samples sizes that must have supported the predictive capability of sales promotions,
events management, direct marketing and public relations.
According to Arokiasamy (2012), the relationship between customers’ service quality perceptions and personal
selling is moderated by advertising, events management, direct marketing, public relations and sales promotions.
This empirical stance is supported by this study’s result. The moderating role played by advertising, events management,
direct marketing, public relations and sales promotions in this regard facilitates customers’ service quality perceptions
through personal selling, and this argument is supported by Arokiasamy (2012) and Cengiz & Yayla (2007).
CONCLUSIONS AND RECOMMENDATIONS
Based on findings of this study, it is concluded that advertising, personal selling, sales promotion, events
management, direct marketing and public relations significantly positively relate to customers’ service quality perceptions.
This implies that increasing engagement by financial institutions in advertising, personal selling, sales promotion, events
management,
direct
marketing
and
public
relations
enhances
customers’
service
quality
perceptions.
Moreover, advertising, sales promotion, events management, direct marketing and public relations have significant
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54
Francis Kofi Sobre Frimpong
moderating effect on the relationship between customers’ service quality perception and personal selling. It is very likely
therefore that personal selling and its relationship to customers’ service quality perceptions is positively influenced by
advertising, sales promotion, events management, direct marketing and public relations. Advertising and personal selling
are significant predictors of customers’ service quality perceptions, but sales promotions, events management,
direct marketing and public relations are not. Additionally, the predictive capability of advertising and personal selling is
very high. While advertising alone highly predicts customers’ service quality perceptions, personal selling alone relatively
predicts customers’ service quality perceptions weakly.
Obviously, advertising and personal selling, among elements of the market communication mix, deserve a higher
level of management attention and priority in terms of marketing expenditure. Though, public relations and sales
promotions would as well need a significant level of engagement by financial institutions, advertising and personal selling
must be given utmost consideration in this respect if financial performance is to be optimised. It is suggested that future
researchers increase the sample size of this study. Future researches could also identify possible differences in the impact
of each element of the marketing communication mix, namely advertising, sales promotions, personal selling and public
relations, on customers’ service quality perceptions across the various financial subsectors such as banking, insurance and
non-bank financial subsector.
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http://unctad.org/en/PublicationsLibrary/wesp2014pr_en.pdf at 9:56 AM.
40. Zeithaml, K. Parasuraman, A., Berry, L. (1990). Delivering Quality Service; Balancing Customer Perceptions and
Expectations, Free Press.
Impact Factor (JCC): 5.3064
Index Copernicus Value (ICV): 3.0
57
The Impact of Elements of the Market Communication Mix on Customers’
Service Quality Perceptions: A Financial Sector Perspective
APPENDIX A
Table 15
Model
(Constant)
1
Unstandardized
Coefficients
Standardized
Coefficients
B
Std. Error
-6.384
3.795
Beta
t
Sig.
-1.682
.131
Advertising
.855
.403
.664
2.120
.031
Personal Selling
.234
.100
.427
2.339
.020
Sales promotions
-.932
.712
-.262
-1.308
.227
Public relations
.031
.181
.045
.173
.867
Direct marketing
.385
.222
.314
1.735
.121
Events management
-.192
.325
-.152
-.590
.572
a. Dependent Variable: Customers' service quality perceptions
Table 16
Model
1
2
Unstandardized
Coefficients
Standardized
Coefficients
Std. Error
3.899
Beta
(Constant)
B
-2.467
Advertising
1.130
.172
.877
(Constant)
-8.470
3.507
Advertising
.736
.179
Personal Selling
.246
.076
t
Sig.
-.633
.538
6.579
.000
-2.415
.033
.571
4.107
.001
.448
3.223
.007
a. Dependent Variable: Customers' service quality perceptions
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