Innovative Marketing and Financial Performance in the Banking Sector of Lesotho
Date
2023
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
University of the Witwatersrand, Johannesburg
Abstract
Purpose
The purpose of this research was to investigate and to test innovative marketing and perceptions of the financial performance of commercial banks in Lesotho. The study was situated within the strategic marketing management discipline.
Study Design/Methodology/Approach
The study involved an online questionnaire-based survey of 18- to 60-year-old customers of commercial banking services in the banking sector of Lesotho. The
constructs of the study were marketing orientation, marketing innovation, customer satisfaction, customer loyalty and financial performance. A total of 141 responses were received and were subjected to Structural Equation Modelling (SEM), applying SMART – PLS.
Findings
The results showed that marketing innovation had a positive impact on financial performance of commercial banks of Lesotho. It was also revealed that customer
satisfaction: 3Ps had a positive impact on financial performance of commercial banks in Lesotho. Moreover, customer loyalty had a negative impact on the financial
performance of commercial banks of Lesotho.
Originality/Value
The study had practical implications for marketing managers of commercial banks in Lesotho to identify and implement marketing innovation strategies that improve positive perceptions of financial performance
Description
A research report submitted in partial fulfillment of the requirements for the degree of Master of Management in Strategic Marketing to the Faculty of Commerce, Law and Management, Wits Business School, University of the Witwatersrand, Johannesburg, 2023
Keywords
MARKETING INNOVATION, FINANCIAL PERFORMANCE, CUSTOMER SATISFACTION, UCTD
Citation
Nonyane, Motsieloa Alexander. (2023). Innovative Marketing and Financial Performance in the Banking Sector of Lesotho [Master’s dissertation, University of the Witwatersrand, Johannesburg]. WireDSpace.