Customer orientation, service quality and customer satisfaction interplay in the banking sector: An emerging market perspective

Gonu, Eric; Agyei, Paul Mensah; Richard, Opoku Kofi; Asare-Larbi, Mary Article Customer orientation, service quality and customer satisfaction interplay in the banking sector: An emerging market perspective Cogent Business & Management Provided in Cooperation with: Taylor & Francis Group Suggested Citation: Gonu, Eric; Agyei, Paul Mensah; Richard, Opoku Kofi; Asare-Larbi, Mary (2023) : Customer orientation, service quality and customer satisfaction interplay in the banking sector: An emerging market perspective, Cogent Business & Management, ISSN 2331-1975, Taylor & Francis, Abingdon, Vol. 10, Iss. 1, pp. 1-20, https://doi.org/10.1080/23311975.2022.2163797 This Version is available at: https://hdl.handle.net/10419/294224 Standard-Nutzungsbedingungen: Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden. 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This open access article is distributed under a Creative Commons Attribution (CC-BY) 4.0 license. Published online: 05 Jan 2023. Submit your article to this journal Article views: 9858 View related articles View Crossmark data Citing articles: 3 View citing articles MARKETING | RESEARCH ARTICLE Customer orientation, service quality and customer satisfaction interplay in the banking sector: An emerging market perspective Eric Gonu 1 , Paul Mensah Agyei 2 *, Opoku Kofi Richard 3 and Mary Asare-Larbi 4 Abstract: Customer satisfaction is at the heart of any successful business entity. The influence of service quality on the role of customer orientation in achieving greater customer satisfaction in the banking industry from the perspective of customers has not received the required attention in the marketing literature. This study sought to respond to the question of whether service quality could influence the effect of customer orientation on customer satisfaction. The study adopts a quantitative research approach with a descriptive survey design. With the aid of PLS-SEM, data from 391 commercial bank customers was analysed. It was identified that, within the banking industry, customer orientation is a key predictor of customer satisfaction. Customer satisfaction would improve when service quality improves, and service quality plays a partial role in the relationship between customer orientation and service quality. The study recommends that policymakers develop comprehensive policies and also direct the management of commercial banks to develop customer orientation programmes. Subjects: Services Marketing; Marketing Research; Marketing Management Keywords: Customer satisfaction; service quality; customer orientation; banking; emerging market 1. Introduction Customer orientation is a key focus for any firm’s relationships with its market (Kohli & Jaworski, 1990; Lee et al., 2021). As the central component of market orientation, customer orientation is also an important driver of firm performance (Nurfarida et al., 2021). The highly competitive nature Paul Mensah Agyei ABOUT THE AUTHOR Eric Gonu is a lecturer in the department of marketing and supply chain management, University of Cape Coast, Ghana. He holds a Doctor of Philosophy in Business Administration. His area of specialisation is Marketing. His research interests are in the areas of service quality management, customer relationship management, customer service, service marketing and relationship marketing. Gonu et al., Cogent Business & Management (2023), 10: 2163797 https://doi.org/10.1080/23311975.2022.2163797 Page 1 of 20 Received: 30 June 2022 Accepted: 27 December 2022 *Corresponding author: Paul Mensah Agyei, Department of Business Programmes, College of Distance Education, University of Cape Coast, Ghana Email: [email protected] Reviewing editor: Agyenim Boateng, Accounting & Finance, De Montfort University, Leicester, UK Additional information is available at the end of the article © 2023 The Author(s). This open access article is distributed under a Creative Commons Attribution (CC-BY) 4.0 license. of today’s markets is forcing organisations to be more sensitive to customers’ needs in order to retain their customers and acquire new ones. As a result, customer satisfaction has been the major concern of all organizations, including banks (Dam & Dam, 2021). In order to satisfy the customers and maintain their loyalty, the banks must focus on building customer orientation skills in their staff so as to build a strong relationship with customers. Nevertheless, banks’ being customeroriented does not necessarily guarantee customer satisfaction unless a quality service is delivered to satisfy the bank customer (Bamfo et al., 2018). The banking sector of Ghana, which is the focus of this study, has remained a very strategic sector for the nation’s quest for development and prosperity for its’ citizens. The liberalisation of the financial sector in conjunction with the economic reforms in the late 1980s and early 1990s has created room for more banks, including foreign banks, to patronise in the commercial banking sector (Aryeetey, 2008). It has also increased the supply of financial services and given customers the impetus to demand quality service. Currently, there are a good number of foreign and local banks in Ghana. They continue to roll out innovative products and services and use branch networking, automated services, and personalization of services as their major strategies to enrich the customer experience and improve the satisfaction level of customers in order to retain them (Boateng et al., 2021). The sector was deemed appropriate for this study because, over the years, there have been complaints regarding the attitude and behaviour of banks. Also, commercial banks in Africa and Ghana are facing low levels of customer satisfaction and loyalty due to high levels of customer demands with regards to technological changes and innovation (Nwanji et al., 2020). It must be acknowledged that a number of studies (e.g., Li et al., 2019; Wibawa & Sukaatmadja, 2018) have been conducted on customer orientation in other sectors, like the public sector. However, these studies did not pay particular attention to measuring customer orientation from the perspective of customers. This notwithstanding, Li et al.’s (2019) study only focused on customer orientation, satisfaction, and service quality with a focus on the electricity sector, which is a public utility service provider. This study is worth considering in a critical sector like the bank, where competition is very keen, which makes customer orientation a service quality and an important service marketing concept. Previous studies found a positive effect of customer orientation on customer satisfaction (Ang et al., 2011; Homburg et al., 2011), and found a positive relation between service quality and customer satisfaction (Segoro & Elvira, 2021). Although scholars (see, Dam & Dam, 2021; Li et al., 2019) have recognised the importance of customer satisfaction, prior research was insufficient in several respects. First, customer orientation was evaluated by the employees of banks rather than the customers. Farrell et al. (2001) argue that assessment of service quality should occur on two fronts: from employee and customer perspectives. Second, there is a need for more rigorous quantitative methodology and analysis, which can smooth the way of building integration models to set out the antecedents of customer satisfaction, such as customer orientation and service quality. Hence, the study seeks to effectively determine the effect of customer orientation on customer satisfaction and service quality among customers of commercial banks. Additionally, to assess the effect of service quality on customer satisfaction and investigate the influence of service quality on the relationship between customer orientation and customer satisfaction among customers of commercial banks. The role of service quality in this relationship is novel, especially in emerging markets. It adds to the bank’s marketing literature because, unlike most earlier studies, it assesses quality from the customer’s perspective. The study is important for marketing managers and relationship managers. It provides further strategies to influence bank customers’ behaviour. The study contributes to market orientation, service quality, and customer satisfaction literature. Measuring customer orientation, one of the three variables of market orientation theory, from the perspective of customers has been made clear. This adds to the many areas where the theory of market orientation has been tested in recent times. The literature on the essence of customer orientation, customer satisfaction, and service quality in the banking sector has been established. For instance, it is established that service quality influences the effect of customer orientation on customer satisfaction. Gonu et al., Cogent Business & Management (2023), 10: 2163797 https://doi.org/10.1080/23311975.2022.2163797 Page 2 of 20 Subsequent sections of the paper examine the literature on the subject matter, the research methods adopted for the study, the results and discussion, and the study’s implications. First, a literature review and hypothesis development are given. 2. Literature review and hypotheses development This section reviews literature related to the study’s key concepts: customer orientation, customer satisfaction, and service quality. The study’s hypotheses are further developed. 2.1. The concept of customer orientation, service quality and customer satisfaction 2.1.1. Customer orientation Customer orientation can be understood as an extension of relationship marketing, as both concepts emphasise the creation of sustainable competitive advantages through excellence in customer service (Steinman et al., 2000; Wibawa & Sukaatmadja, 2018). Similar to marketing relationships, customer orientation is aimed at enhancing and sustaining the profitability of a company by creating long-term relationships with customers and maximising their satisfaction (Yavas et al., 2011). According to Slater and Narver (1998), customer orientation is one of the main principles of market orientation. Good awareness and understanding of the needs of customers not only help the business to generate superior value for the enterprise itself but also for its customers. Racela (2014) describes customer orientation as “a provider’s ability to continuously test customers’ latent needs and discover potential needs.” A set of task-oriented behaviours such as customer support services is referred to as “consumer orientation.” Since it is limited to behaviours that consumers are likely to anticipate from a salesperson in the position of a businessperson, it has been dubbed “functional customer orientation” (Homburg et al., 2011). Customer orientation also involves an employee’s propensity to develop a personal relationship with customers. Herhausen (2011) suggested that customer orientation consists of behavioural and cultural characteristics. Whereas the behavioural perspective defines customer orientation as associated with the production and distribution of market information and its responsiveness (Dhingra et al., 2020), the cultural perspective is connected to the more fundamental characteristics of the company. From the behavioural perspective, Slater and Narver (1998, p. 23) describe market orientation as an “organizational culture . . . that produces the most successful and efficient behaviours necessary for the development of superior value for the purchaser and, therefore, continuous superior performance for the company.” Therefore, activities to influence the organization’s customer orientation fall into two categories (Homburg et al., 2011). Customer orientation is often conceptualised to cover customer need recognition, customer engagement, customer concerns, and resolution channels (Taleghani et al., 2011). Similarly, Majava et al. (2014) referred to “customer involvement” as the extent to which the customer takes part in the production and distribution of the service. This is further supported by Jiang et al. (2019), who suggest that the involvement of the customer is about exchanging knowledge, taking responsible actions, and maintaining personal contact between the company and the customer. Likewise, Latyshova et al. (2015) and Anabila et al. (2020) also argued that customer orientation as a strategic decision is to focus all company resources to support and satisfy profit-making customers. Similarly, Fader (2020) argues that customer orientation implies the analysis of customer value and the immediate concentration of marketing activities on the actual consumer segment with high added costs in order to maximise profits. Customer orientation is also conceptualised as a company’s ability to produce solid market results by meeting profitable customer requirements through a customer-centric company structure. The study adopted a modified dimension of customer orientation, namely: customer needs identification, customer involvement, customer complaints, and customer channel resolution, as Gonu et al., Cogent Business & Management (2023), 10: 2163797 https://doi.org/10.1080/23311975.2022.2163797 Page 3 of 20 suggested (Jiang et al., 2019). Researchers such as Al Samman and Mohammed (2020) and Choi and Joung (2017) have used this framework. As such, this study adopted the framework to identify current practices, define future practices, and define key words and key issues in the commercial banking sector in Ghana. 2.1.2. Service quality Quality of service can be defined as the perceived decisions arising from an appraisal process in which consumers equate their perceptions with what they believe they have received (Meesala & Paul, 2018). Abror et al. (2019) further argue that the quality of the service is determined by its compliance with the customer’s requirements and expectations, and the better the fit, the higher the satisfaction. Following this, Zamry and Nayan (2020) established three-dimensional approaches to service quality in terms of physical quality, interactive quality, and company quality. Physical quality refers to the quality of the resources and facilities used to provide services. It focuses on the physical settings that promote perceived quality. Interactive quality is the outcome of interactions between the consumer and interactive components such as contests, games, and ATMs. Interactive components are used to promote the quality of services given to customers. For instance, the use of ATMs, games, contests, and quizzes allows organisations to test the knowledge capacities of their customers or clients. The corporate quality of a company refers to the perception of quality by its customers over a long period of time. Previous studies such as Ali et al.’s (2022) perceived corporate quality as the only quality dimension that consumers could determine before buying a service. It could be deduced that these three components of service quality are interrelated and combine to promote the quality of services given to customers in any organisational setting (Gong & Yi, 2018; Khan et al., 2019). Service quality is often conceptualised as a multi-faceted construct of five dimensions: responsiveness, which includes Responsiveness, Assurance, Tangibility, Empathy and Reliability (RATER; Cronin & Taylor, 1992; Parasuraman et al., 1988). Tangibility applies to physical services, staff, and equipment used by the service provider (Naik et al., 2010). Reliability represents the consistency of the service provider and accuracy of performance, while responsiveness means the willingness of employees to react quickly and to be able to support customers (Parasuraman et al., 1988). Assurance refers to the expertise, courtesy, and trust of staff, while empathy is the capacity to provide customer service and individual attention (Robledo, 2001). In addition, B. Zeithaml et al. (2006) defined perceived service quality as a general attitude of judgment in relation to the overall excellence of service superiority. It is the degree of difference between the expectations of the customer and the perception of the service rendered. On the other hand, Sultan and Wong (2010) consider service quality an attitude arising from customers’ long-term evaluations of the services they receive. However, the current study adopted three dimensions of service quality, namely responsiveness, tangibility, and reliability, as suggested by Parasuraman et al. (1988). This is basically due to their direct relevance to the study’s objectives. A modified version of SERVQUAL postulated by Parasuraman et al. (1988) was adopted in this research as Hapsari et al. (2016); Meesala and Paul (2018) postulate that they are the best predictors of service quality. Service quality can be best described by consumers because they are the beneficiaries and eventual users of services offered by banks. 2.1.3. Customer satisfaction Satisfaction as a term can be defined as a post-consumption or evaluative approach that differs from the hedonic spectrum and focuses on the product (Glowa, 2014). Customer satisfaction or dissatisfaction is a cognitive or affective reaction that surfaces in the form of a response to a single or prolonged series of service experiences. Murad (2021) assumed that there were three key components of customer satisfaction, namely: cognitive, affective, or conative; the topic to which the response was directed; and the length of the assessment. In the literature, however, there are two main interpretations of satisfaction: satisfaction as a process and satisfaction as a result (Gustafsson et al., 2015).Satisfaction can therefore be characterised as an appraisal judgment of preference relating to a particular purchase decision. Gonu et al., Cogent Business & Management (2023), 10: 2163797 https://doi.org/10.1080/23311975.2022.2163797 Page 4 of 20 In this study, customer satisfaction means that customers are pleased with the actions of banks, with goods and services, and that banks have succeeded in attracting and retaining them. To the degree that consumers invest time and money in banks, they demand high-value services. In other words, customer satisfaction is the popularity that the customer obtains from the different features of the product. In addition, it is a source of profit and an incentive for banks to carry out their activities (Khadka & Maharjan, 2017). In the corporate world, customer satisfaction is understood as an overall customer attitude towards the services and products of a bank or service provider. Customer satisfaction has also been held accountable for customer loyalty over the last few years, which is referred to as a continuous positive customer purchasing behaviour towards a specific company or brand. Customer satisfaction is the most important factor contributing to customer loyalty, and customer satisfaction as a variable can influence customer loyalty and potential purchasing intentions (Machirori & Fatoki, 2014). Kotler (2007) was among the first to suggest that satisfaction is correlated with performance that meets expectations, whereas disappointment arises when performance falls below expectations. It is widely accepted that satisfaction is the feeling of enjoyment or dissatisfaction of an individual arising from a comparison of the perceived output of a product in relation to his or her expectations (Körner et al., 2015). This shows that if the perceived output is lower than anticipated, consumers will be disappointed. Otherwise, if the perceived expectations are met with results, consumers would be at an indifferent or neutral level. Customer satisfaction can also be seen as a customer’s overall assessment of the success of an offer made to date by banks (Machirori & Fatoki, 2014). Items measuring customer satisfaction may include reliability of bank services, product or service information, product or service accessibility, value for money, customer responsiveness, and a short waiting time. 2.2. Hypotheses development 2.2.1. Customer orientation and customer satisfaction Before customers patronise a bank service, they often have some kind of expectation of service delivery that they desire or wish to be met after purchase and consumption. To meet these expectations, banks are expected to put customers at the heart of quality service delivery. Banks that put customers first are said to be customer-centric. One characteristic of a service is inseparability, which means most service offers have concurrent production and consumption. This remains a highly relevant context for service providers and customers. The bank’s practises have an influence on customer satisfaction. In the context of bank service delivery, customer orientation is about understanding the needs of customers not only to help the bank generate superior value but also for the satisfaction of their customers (Racela, 2014). On the other hand, customer satisfaction is understood as an overall customer attitude towards the product or service of a bank or service provider (Machirori & Fatoki, 2014). Those two variables (Customer Orientation and Customer Satisfaction) have enjoyed much attention in the service marketing literature and among some scholars (Henni-Tharau, 2004). Wali et al. (2015) discovered a significant direct and indirect relationship between customer orientation and customer satisfaction. The study therefore hypothesises that H 1 : Customer orientation has a significant positive effect on customer satisfaction among customers of commercial banks. 2.2.2. Customer orientation and service quality Customer Orientation can be understood as an extension of relationship marketing, as both concepts emphasise the creation of sustainable competitive advantage through excellence in customer service (Steinman et al., 2000). Similarly, Khan et al. (2019) posit that for service firms Gonu et al., Cogent Business & Management (2023), 10: 2163797 https://doi.org/10.1080/23311975.2022.2163797 Page 5 of 20 to enhance sustainable profitability, the key is customer orientation, as it further helps banks understand customers’ needs and provides essential information to organisations so they can meet customers’ needs with the right products and services. Thus, a highly customer-oriented organization, especially a bank, is important for quality service delivery, customer satisfaction, and survival. Furthermore, the role of customer orientation is a strong variable in quality service delivery in the service sector (Latyshova, Syablova, & Oyner, 2015). Scholars (e.g., Li et al., 2019) report that when service firms are customer-oriented, they tend to provide quality service to satisfy their customers. It can be concluded that customer orientation is critical in building the service quality of a service firm. The study therefore hypothesises that H2: Customer orientation has a positive effect on service quality among customers of commercial banks. 2.2.3. Service quality and customer satisfaction The service quality concept has been extensively discussed in marketing literature. Perceived service quality is a customer’s overall assessment of the service’s performance (V. A. Zeithaml et al., 1996). Similarly, customer satisfaction, which is about customers’ assessment of the supposed incongruity between their expectations and the actual service delivered, has also enjoyed massive review in the marketing literature (Tse & Wilton, 1988). Currently, these two constructs (service quality and customer satisfaction) have and will continue to receive much consideration in academia (Bamfo et al., 2018). Thus, the provision of a high-quality bank service is important for any bank, as it is part of the rational consideration for a customer to be satisfied with the bank. Furthermore, the role of perceived service quality is a strong variable with other marketing variables such as customer orientation and customer satisfaction in banking (Bakar et al., 2012). Scholars (e.g., see Kadir et al., 2017) report that when some customers perceive high service quality, they tend to be more satisfied. Finally, past empirical studies (e.g., Bakar et al., 2012) conclude that service quality is critical in building customer satisfaction. Thus, the hypothesis related to service quality in commercial banks is stated as follows: H3: Service Quality has a positive effect on Customer Satisfaction. 2.2.4. Mediation role of service quality in customer orientation and customer satisfaction Research has proven that customer orientation (CO) can directly affect customer satisfaction (CS; Machirori & Fatoki, 2014; Racela, 2014; Wali et al., 2015). However, it remains unclear whether this relationship can be mediated by service quality (SQ). Service quality focuses on a firm’s ability to deliver expected services to their customers; in view of this, some studies have concluded that it plays a role in promoting CO, which in turn leads to better customer satisfaction. However, the extent (partial, full, or none) to which SQ mediates this relationship remains inconsistent. For instance, Li et al. (2019) revealed that SQ fully mediates the relationship between CO and CS in Ghana’s public utility sector. It was concluded that the presence of SQ improves CO and, subsequently, CS. According to Khen et al. (2010), customers, in recent times, are increasingly becoming mindful of their rights and needs, therefore pushing businesses to constantly improve their service quality in order to keep them satisfied. Rai and Medha (2013) also contend that CS is dependent on CO; however, it can be improved through SQ. These are clear indications that even though CO leads to CS, this effect can be strengthened through SQ. In contrast, Aburayya et al. (2020) found that CO had an insignificant indirect effect on CO through SQ, concluding that SQ does not significantly moderate the linkage between CO and SQ. The finding implies that CO can directly affect CS without passing through SQ. Despite these inconsistencies in previous findings, the study hypothesised that: H 4 : Service quality mediates the relationship between customer orientation and customer satisfaction. Gonu et al., Cogent Business & Management (2023), 10: 2163797 https://doi.org/10.1080/23311975.2022.2163797 Page 6 of 20 2.5. Hypothezed conceptual framework Figure 1 demonstrates the hypothesed relationship between the constructs of the study as discussed above in section 2.2 of the study. 3. Research methods The nature of the study objectives is quantitatively inclined, hence its adoption of the positivist philosophy, quantitative research approach with a descriptive survey design. The study adopts a survey approach by studying commercial banks in the Greater Accra region of Ghana. Six commercial banks in the Greater Accra region therefore represent the population for this study. The exact number of customers of commercial banks could not be ascertained, and that was a key limitation in determining the sample size. Hair et al. (2006) estimate that a population of 2,005,895 bank account holders of these banks, with a 95% confidence level and a 5% margin of error, will give a sample size of 384 (Hair et al., 2006). However, a few additions were made to make the sample size 420 tonnes to cater for non-responders. However, 381 customers fully completed the research instrument within the period of data collection. This gave a response rate of 91%, which the researcher deemed reliable for the study (Creswell & Plano-Clark, 2018). In relation to sampling procedures, multi-stage sampling was used. First, the purposive sampling technique was used to select six (6) commercial banks in Greater Accra based on the following: large nature of branches; customer base; high asset base; and high market share (BOG, 2017). The study further employed a statistical random sampling technique by putting the banks and customers into various strata of local and foreign banks. Customers were randomly selected from a sample of their banks. The data collection was done through the administration of structural questionnaires by the researchers. Items measuring the various variables were adapted from existing studies. Customer orientation was adopted and modified from measurements developed by Garrido-Moreno and Padilla- Melendez (2011). Service quality measurements were adopted and modified from Karatepe et al. (2005). Customer satisfaction measurements were adopted and modified from Leninkumar (2017). Details of the items measuring each of the constructs are shown in Appendix A. The data collection commenced on 5 October 2021 and ended on 13 January 2022. 4. Analysis, results and discussion The partial least square structural equation modelling (PLS-SEM) technique was used to test the study’s hypotheses. This method covers violations of normality (multivariate normality) without requiring any hard assumptions about the distributional characteristics of the input data (Hair et al., 2014). It uses a confirmatory (hypothesis-testing) approach to investigate the structural theory of a problem (Babin, Hair, & Boles, 2008). Furthermore, because the PLS-SEM method Service quality Customer orientation Customer satisfaction H1 H2 H3 Figure 1. Study model. Source: Researchers’ Construct Gonu et al., Cogent Business & Management (2023), 10: 2163797 https://doi.org/10.1080/23311975.2022.2163797 Page 7 of 20 embracing CO. Simply put, understanding customers’ needs is critical for Ghana’s commercial banks, as it allows them to identify a market niche and fill that niche with the proper items to achieve perceived service quality. The study recommends that more customer-oriented policies, practices, and packages should be implemented in order to meet the perceived service quality of customers in the banking industry. In terms of practice, for instance, commercial banks should engage customers in knowledge, information, and other resource sharing. They should also establish clear contact with customers through proper communication channels in order to build long-lasting relationships and subsequently promote service quality. In addition, the study recommended that the management of the commercial banks should continue to invest in activities that directly improve the quality of the services they currently deliver. More precisely, investing in sophisticated technologies would improve the overall quality of services (responsiveness, tangibility) rendered by these banks, thereby promoting customer satisfaction. Also, management should ensure that the services being delivered in the banking industry are perceived as high quality and customer-friendly, thus meeting customers’ expectations and, invariably, satisfaction levels. Finally, the study suggests that commercial banks in Ghana can improve the satisfaction levels of their customers by emphasising customer orientation and service quality. This can be achieved by ensuring that the services delivered by the commercial banks are streamlined to meet customers’ needs. By doing so, customers would tend to exhibit positive attitudes such as satisfaction, commitment, and, invariably, loyalty. More practically, the management of these banks should ensure that their products and services are customer-oriented, that is, directly aimed at meeting customers’ expectations in order to improve satisfaction. For instance, service quality can be improved by providing quality customer complaint management, identifying customer needs, developing staff skills, investing in technology, and ensuring continuous service improvement. The study, therefore, concludes that customer satisfaction in the banking industry of developing economies like Ghana can be improved if commercial banks emphasise customer orientation through service quality. 8. Suggestions for further research Although the study’s purpose was largely achieved, a little more can be done to boost the overall literature on the subject matter. In terms of geographical limitation, the study focused on some selected commercial banks in Ghana; thus, generalising findings across all commercial banks in the country and other developing economies should be done with caution. Given this, future research could take a more broad-based approach to their studies, incorporating other commercial banks in Ghana and/or other emerging economies. Also, further research could employ the mixed methods approach in order to obtain both qualitative and quantitative data to improve current findings. Funding The authors received no direct funding for this research. Author details Eric Gonu 1 Paul Mensah Agyei 2 E-mail: [email protected] ORCID ID: http://orcid.org/0000-0002-7904-4801 Opoku Kofi Richard 3 Mary Asare-Larbi 4 1 Department of Marketing and Supply Chain Management, University of Cape Coast, Cape Coast, Ghana. 2 Department of Business Programmes, College of Distant Education, University of Cape Coast, Ghana. 3 College of Economics and Management, Beijing University of Chemical Technology (BUCT), Beijing, China. 4 Department of Marketing and Corporate Strategic Management, University for Development Studies, Tamale, Ghana. Disclosure statement No potential conflict of interest was reported by the authors. 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The Journal of Consumer Research, 37(2), 197–206. https://doi.org/10.1086/651257 Gonu et al., Cogent Business & Management (2023), 10: 2163797 https://doi.org/10.1080/23311975.2022.2163797 Page 17 of 20 Appendix A Description of Constructs Items Minimum Maximum Mean S.D. Service Quality Appealing physical features 1 5 3.99 .750 Confidentiality of customers’ transactions 1 5 3.92 .756 Availability of modern equipment 1 5 3.90 .781 Convenient operating time 1 5 3.87 .799 Customer support services 1 5 3.87 .784 Dependability of services 1 5 3.87 .751 Provision of prompt services 1 5 3.86 .825 Problem solving 1 5 3.85 .793 Comfortable physical layout 1 5 3.84 .871 Responsiveness to customer request 1 5 3.82 .808 Error free transactions 1 5 3.73 .886 Customer Orientation Clearly defined customers’ needs 1 5 3.79 .737 Regular analysis of customer complaints 1 5 3.78 .775 Customer engagement 1 5 3.74 .832 Priotising customers’ needs 1 5 3.72 .831 Awareness of customers’ expectations 1 5 3.70 .801 Customers’ involvement 1 5 3.68 .816 Surpasses customers’ expectations 1 5 3.68 .826 Management spends time with customers 1 5 3.64 .917 (Continued) Gonu et al., Cogent Business & Management (2023), 10: 2163797 https://doi.org/10.1080/23311975.2022.2163797 Page 18 of 20 Appendix B Demographic Characteristics of Respondents Items Minimum Maximum Mean S.D. Responsive to customers complaints 1 5 3.62 .858 Customer Satisfaction Reliability of bank services 1 5 3.84 .870 Product/service information 1 5 3.82 .823 Product/service accessibility 1 5 3.79 .893 Value for money 1 5 3.77 .777 bank understands customers’ needs 1 5 3.76 .805 Reasonable service charges 1 5 3.75 .823 Short waiting time 1 5 3.73 .898 Customer responsiveness 1 5 3.66 .888 Item Freq. Percent (%) Gender Male 195 51.2 Female 186 48.8 Total 381 100.0 Age 18–3 years 197 51.7 31–40 years 122 32.0 41–50 years 55 14.4 51 years and above 7 1.8 Total 381 100.0 Highest Educational Qualification Basic Education Certificate Examination (BECE) 8 2.1 West African Senior Secondary Certificate 70 18.4 First degree (BA, BEd, Bsc, BFA, BBA, etc) 259 68.0 Second degree (MPhil, MBA, MSc, MA) 41 10.8 (Continued) Gonu et al., Cogent Business & Management (2023), 10: 2163797 https://doi.org/10.1080/23311975.2022.2163797 Page 19 of 20 © 2023 The Author(s). This open access article is distributed under a Creative Commons Attribution (CC-BY) 4.0 license. You are free to: Share — copy and redistribute the material in any medium or format. Adapt — remix, transform, and build upon the material for any purpose, even commercially. The licensor cannot revoke these freedoms as long as you follow the license terms. Under the following terms: Attribution — You must give appropriate credit, provide a link to the license, and indicate if changes were made. You may do so in any reasonable manner, but not in any way that suggests the licensor endorses you or your use. No additional restrictions You may not apply legal terms or technological measures that legally restrict others from doing anything the license permits. Cogent Business & Management (ISSN: 2331-1975) is published by Cogent OA, part of Taylor & Francis Group. Publishing with Cogent OA ensures: • Immediate, universal access to your article on publication • High visibility and discoverability via the Cogent OA website as well as Taylor & Francis Online • Download and citation statistics for your article • Rapid online publication • Input from, and dialog with, expert editors and editorial boards • Retention of full copyright of your article • Guaranteed legacy preservation of your article • Discounts and waivers for authors in developing regions Submit your manuscript to a Cogent OA journal at www.CogentOA.com (Continued) Item Freq. Percent (%) Terminal degree (PhD, DSc, Ded etc.) 3 0.8 Total 381 100.0 Occupation Self – employed 108 28.3 Privately employed 183 48.0 Government 90 23.6 Total 381 100.0 Years spent with bank Below 1 year 54 14.2 1–5 years 165 43.3 6–10 years 133 34.9 Above 10 years 29 7.6 Total 381 100.0 Gonu et al., Cogent Business & Management (2023), 10: 2163797 https://doi.org/10.1080/23311975.2022.2163797 Page 20 of 20