International Journal of Sales & Marketing

Management Research and Development (IJSMMRD)

ISSN(P): 2249-6939; ISSN(E): 2249-8044
Vol. 4, Issue 5, Oct 2014, 15-24
TJPRC Pvt. Ltd.

THE EFFECT OF THE MARKETING COMMUNICATION MIX ON CUSTOMER

LOYALTY IN THE BANKING SECTOR IN GHANA
EMMANUEL OPOKU1, REGINA APPIAH-GYIMAH2 & LIPSEY APPIAH KWAPONG3
1, 2
3

Lecturer, Department of Marketing, Accra Polytechnic, Ghana

Lecturer, Department of Management and Secretaryship, Accra Polytechnic, Ghana

ABSTRACT
This study examines the effect of marketing communication mix on customer loyalty in the banking sector in
Ghana. A descriptive quantitative research technique was employed. The target population of this study was commercial
banks in Ghana. Secondary data on 15 commercial banks was used. Factor analysis and ordinary least squares regression
analysis were used for data analysis. According to findings, all items of the marketing communication mix significantly
predict customer loyalty at 5% significance level, with 93.4% of the total variance contributed. Thus advertising
(t = 9.099, p = .000), personal selling (t = 9.961, p = .000), sales promotion (t = -6.324, p = .000), public relations
(t = 4.945, p = .000), direct marketing (t = 5.708, p = .000), events management (t = -4.165, p = .000) and internet
marketing (t = 3.670, p = .000) significantly predict customer loyalty at 5% significance level. This means that all elements
of the marketing communication mix are relevant to customer loyalty in the banking sector in Ghana. Commercial banks in
Ghana would therefore have to channel resources towards improving the deployment and use of advertising,
personal selling, sales promotion, public relations, direct marketing, events management and internet marketing.

KEYWORDS: Marketing Communication Mix, Customer Loyalty, Banking Sector

INTRODUCTION
Every organisation expects to achieve financial growth, both in the short and long runs, in the face of market
competition. According to Kotler & Armstrong (2010), marketing is essential because a sustainable financial performance
is not possible without a firms adoption of suitable marketing practices. Meanwhile, a sustainable financial performance is
the primary target of the management of every business. Meanwhile, a businesss service quality, customer satisfaction and
customer loyalty is dependent on its marketing communication practice (Frimpong, 2014; Manisha, 2012; Rawal, 2013).
Marketing communication is generally considered an efficient business model for achieving desired financial
growth through service quality, customer satisfaction and loyalty. This is because it serves as a major tool for serving and
relating to customers, who are practically the most valued asset of the business. Assuming a businesss customers cannot
be communicated with there is no possible means of generating sales. In view of this, Frimpong (2014: 38) argues that
marketing communication plays a vital role in financial performance. Besides, other empirical, theoretical and practical
evidences support this argument.
Based on a study conducted in a Ghanaian context, Frimpong (2014) posits that each item of the marketing
communication mix is relevant to service quality achievement in a financial firm. Wellman & Molander (2008) also
provide related empirical evidence in a developing country context, with support from Rawal (2013). At the level of
theory, Schultz et al. (2007) and Porcu et al. (2012) conceptualise a model that points to the significant effect of each
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Emmanuel Opoku, Regina Appiah-Gyimah & Lipsey Appiah Kwapong

aspect of marketing communication mix on service quality, customer satisfaction and customer loyalty. In most of the
empirical studies (e.g. Frimpong, 2014; Wellman & Molander, 2008; Rawal, 2013), advertising is identified as one of the
most dominant elements of the marketing communication mix in terms of effect on service quality, customer satisfaction
and customer loyalty. Yet, it is admitted by Schultz et al. (2007) that empirical studies focused on the effect of marketing
communication mix on business performance in terms of service quality, customer satisfaction or customer loyalty are few.
A personal survey of related academic literature shows that researches on marketing communication mix and its
effect on businesses have been conducted at the qualitative level, with most being merely literature reviews. Schultz et al.
(2007) and Porcu et al. (2012) particularly focused on the development of models and theoretical frameworks that argue
the effect of marketing communication mix on service quality and customer satisfaction and loyalty. Schultz et al. (2007)
is of the view that their theoretical frameworks and conceptual models need to be tested in the context of empirical
research. Currently, there is a huge gap in the literature of the subject because few empirical studies are identifiable on it.
From the perspectives of Ghana and developing country, the situation is worse. Research studies on the subject
are generally insufficient. Though Frimpong (2014) and few other researchers have conducted related studies on the
subject, there is still huge gaps in the literature of the subject from a Ghanaian perspective. Even studies conducted in a
Ghanaian context have major limitations that need redress. For instance, in the study of Frimpong (2014),
internet marketing is relegated out of items of the marketing communication mix. Meanwhile, improved access to the
internet and its devices currently makes internet marketing a major driver of customer satisfaction and business growth
(Schultz et al. 2007; Schultz & Schultz, 2004). As a result, failing to incorporate internet marketing in the list of items of
marketing communication mix is a major gap. Moreover, Frimpong (2014) related marketing communication mix to
service quality in his study. Yet, Schultz et al. (2007) has stressed on the need for researchers to give attention to the
relationship between market communication mix and customer loyalty, which is the source of long-run growth in a
business.
In view of the above-mentioned barriers, this study was conducted to assess the effect of the marketing
communication mix on customer loyalty from the viewpoint of the banking sector in Ghana.

OBJECTIVE OF THE STUDY

The objective of this study is to examine the effect of the marketing communication mix on customer loyalty in
the banking sector in Ghana. This study provides empirical evidence on the relevance of marketing communication
practices to sustainable customer patronage and financial growth in the banking sector in Ghana. It also contributes to
academic debate and literature on the subject from Ghanaian and developing country points of view.

LITERATURE REVIEW
Marketing communication is practically believed to contribute to business growth by impacting service quality,
customer satisfaction and customer loyalty. But what is worth knowing at this stage is the meaning of marketing
communication.
Marketing communication constitutes all the promotional elements of the marketing mix that involves
communication between a business and its stakeholders (or target audience) on all matters that would affect its market
performance (Akerlund, 2004). In marketing communication, the target audience of interest are customers, sales persons,

Impact Factor (JCC): 5.3064

Index Copernicus Value (ICV): 3.0

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distributors and shareholders (Akerlund, 2004; Frimpong, 2014). A second popular definition of market communication is
given by Schultz et al. (2007: 7). They define it as a process through which companies accelerate returns by aligning
communication objectives with corporate goals. It is also defined as a concept that directs and coordinates the process of
planning, implementing and supervising brand messages by which brand-customer relationship is built (Porcu et al. 2012).
With respect to these definitions, a business employs market communication to integrate business processes to
stakeholders, with emphasis on maximizing customer value and retention. This idea encompasses the concept of integrated
marketing communication.
According to Kotler & Armstrong (2010), integrated marketing communication is a set of marketing procedures
that bridge a business and its processes to stakeholders. Integrated marketing communication concerns identifying the
target audience and designing a well-coordinated promotional program to elicit the desired audience response (Kotler &
Armstrong, 2010). With the support of market surveys and customer feedback databases (Porcu et al. 2012),
the organization could tell which aspect of marketing communication should be used and which audiences are of interest to
its management (Bontis et al. 2007). Yet, knowing the element of market communication to apply to a particular audience
is believed to be more delicate.
A businesss marketing communications mix is made up of advertising, personal selling, sales promotion, direct
marketing, events, internet marketing and public relations (Kotler & Armstrong, 2010). 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 organization has various options of advertising, with the primary ones being print,
broadcast, outdoor, and other alternatives (Kotler & Armstrong, 2010). Personal selling is the personal presentation of the
firms sales force to make sales and build customer relationships (Porcu et al. 2012; Owen & Humphrey, n.d.).
Sales promotion enables the organization to reward existing customers and to attract new ones (Kotler & Armstrong, 2010;
Frimpong). Public relations concerns growing good relations with the companys public place by obtaining favourable
publicity, building up a good corporate image and heading-off unfavourable rumours, stories and events
(Kotler & Armstrong, 2010; Rawal, 2013). Direct marketing is the use of direct communications with carefully targeted
individual consumers to obtain an immediate response. It interplays with internet marketing in the sense that it involves the
use of e-mail, telephone, fax and other non-personal tools to communicate directly with specific consumers or to solicit a
direct response (Porcu et al. 2012). Internet marketing provides electronic resources for communicating with customers
through websites, e-mails and related resources (Kotler & Armstrong, 2010).
According to theoretical and empirical studies, the elements of marketing communication discussed above make a
positive effect on service quality and customer loyalty. At the level of theory, Schultz et al. (2007) formulate a conceptual
model that relates each item of the market communication mix to service quality and customer loyalty. In the model, each
item of the marketing communication mix makes a significant effect on customer loyalty. Based on the recommendation of
Schultz et al. (2007), a few researchers conducted empirical studies to test the validity of this conceptualised relationship.
In this respect, Frimpong (2014) confirms in his study that each item of the marketing communication mix influences
service quality, with advertising and personal selling being the most dominant drivers of service quality. Porcu et al. (2013)
also provide empirical evidence which points to the significant effect of items of market communication mix on customer
loyalty. Generally, however, limited empirical evidence exists on the effect of market communication mix on customer

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Emmanuel Opoku, Regina Appiah-Gyimah & Lipsey Appiah Kwapong

loyalty. This study was conducted with respect to this gap. Meanwhile, the studys hypotheses are based on the following
conceptual model.

Figure 1: Conceptual Model: Marketing Communication and Customer Loyalty

From Figure 1, each item of the marketing communication mix influences customer loyalty. This means that the
practice of advertising, personal selling, sales promotion, public relations, direct marketing, events management and
internet marketing affects customer loyalty. Porcu et al. (2012) and Schultz et al. (2007) argue that the effect of each item
of the marketing communication mix is expected to be positive. This implies that as the effectiveness of advertising,
personal selling, sales promotion, public relations, direct marketing, events management and internet marketing improves,
the level of customer loyalty also enhances. Based on the general idea expressed in Figure 1, the following alternative
hypotheses are tested in this study.

HYPOTHESES
H1: Each item of the marketing communication mix is significantly relevant to customer loyalty in the banking
sector in Ghana.
H2: Each item of the marketing communication mix significantly predicts customer loyalty in the banking sector
in Ghana.

METHODOLOGY
In this study, a descriptive quantitative research technique was employed. This research technique provides access
to a group of research methods (e.g. probability sampling, reliability and validity measures and inference) for testing this
studys hypotheses and generalising its findings.
The target population of this study was commercial banks in Ghana which had secondary data on items (variables)
of the marketing communication mix. There were 15 banks which satisfied this criterion and were consequently used as
sources of data in this study. The banks include Ghana Commercial Banks, National Investment Bank, Agriculture
Development Bank, Prudential Bank, Zenith Bank, Barclays Bank, Ecobank, Stanbic Bank, United Bank for Africa,
Bank of Africa, UniBank, UT Bank, Sahel-Sahara Bank, Fidelity Bank, Standard Chartered Bank and SG-SSB Bank.
Data was obtained from the marketing and sales departments of the participating commercial banks.
Data was analysed using Statistical Package for the Social Sciences (SPSS). Meanwhile, data was analysed based
on the assumption that it was normally or approximately normally distributed. In view of this assumption,
the Shapiro-Wilks test of normality was used to test for data normality. In testing the first alternative hypothesis,
Factor Analysis (FA) was used to screen for items of the marketing communication mix. The ordinary least squares (OLS)
Impact Factor (JCC): 5.3064

Index Copernicus Value (ICV): 3.0

The Effect of the Marketing Communication Mix on Customer Loyalty in the Banking Sector in Ghana

19

regression analysis was used to test the second alternative hypothesis.

RESULTS
In this section, findings of this study are presented. Data were analysed in this study based on the assumption that
they are normally or approximately normally distributed. In the face of this assumption, the Shapiro Wilks test was used to
verify the normality of data. Table 1 shows results of this test.
Table 1: Tests of Normality of Data
Shapiro-Wilk
Advertising

Statistic df Sig.
.855
15 .078

Personal Selling

.947

15 .482

Sales promotion

.913

15 .151

Public relations

.962

15 .725

Direct marketing
.883
Events management .973

15 .052
15 .896

Internet marketing

.889

15 .065

Customer loyalty

.947

15 .481

Table 1 shows results of the Shapiro Wilks test of normality. The null hypothesis states that data of each variable
in the table are normally or approximately normally distributed. At 5% significance level, this hypothesis is accepted
(p > .05). Though data associated with events management is the most normally distributed (p = .896), data on all the
variables are fairly normally distributed. This means that the normality assumption is satisfied, providing a basis for
reaching valid conclusions in this study.
With the normality assumption satisfied, there is the need to screen for items in the integrated marketing
communication construct, which is composed of advertising, personal selling, sales promotion, public relations, direct
marketing, events management and internet marketing. Tables 2 to 5 come with results of a Factor Analysis (FA) that
depict the dominant items of the marketing communication construct.
Table 2: Correlation Matrix

Table 2 shows the correlation matrix of the FA. It can be observed that the matrix displays a majority of high
correlation coefficients. All correlation coefficients are above .60, suggesting that all variables are potentially part of the
marketing communication construct. By principle, the high correlation coefficients also give a clue about the validity of the
FA. Even so, Table 3 comes with two tests that further verify the validity of the FA and the fact that all variables are items
of the marketing communication construct.
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Emmanuel Opoku, Regina Appiah-Gyimah & Lipsey Appiah Kwapong

Table 3: KMO and Bartlett's Test

Kaiser-Meyer-Olkin Measure of Sampling Adequacy
.735
Approx. Chi-Square
940.163
Bartlett's Test of Sphericity

df

21

Sig.
.000
Table 3 shows tests of the Kaiser-Meyer-Olkin (KMO) Measure of Sampling Adequacy and the Bartlett's Test of
Sphericity. As seen in the table, the Bartlett's Test of Sphericity is significant at 5% significance level (p = .000) while the
value of the Kaiser-Meyer-Olkin Measure of Sampling Adequacy is high at .735. Generally, a valid FA should have a
KMO value of .70 or more in the light of a significant Bartlett's Test of Sphericity. Evidently therefore, the FA is
potentially valid. Table 4 comes with the Anti-image correlations that provide the final indicator for the validity of the FA.
Table 4: Anti-image Matrices

Table 4 shows the Anti-image correlations of the FA. Generally, a valid FA comes with high Anti-image
correlations (i.e. figures in bold). As seen in the table, all Anti-image correlations are high, with the least correlation having
a coefficient quite more than .60. Coupled with evidences from Tables 2 and 3, the FA is a valid one. Moreover, it is likely
that all variables are part of the marketing communication construct. Table 5 however gives full information as to which
variables form part of the marketing communication construct.
Table 5: Communalities

Advertising

Initial Extraction
1.000
.862

Personal Selling

1.000

.690

Sales promotions

1.000

.744

Public relations

1.000

.849

Direct marketing

1.000

.746

Events management

1.000

.818

Internet marketing

1.000

.620

Extraction Method: Principal Component

Analysis.
Table 5 shows the communalities of the FA. The magnitude of the extraction values are used to ascertain which
variables are retained as items of the marketing communication construct. Generally, a variable must have an extraction
value of at least .50 to be retained. In this respect, it is obvious that all the variables are retained. Thus advertising, personal
selling, sales promotion, public relations, direct marketing, events management and internet marketing are significant items
of the marketing communication construct.
Impact Factor (JCC): 5.3064

Index Copernicus Value (ICV): 3.0

The Effect of the Marketing Communication Mix on Customer Loyalty in the Banking Sector in Ghana

21

Since all the items are part of the marketing communication construct, the first alternative hypothesis is retained.
Thus each item of the marketing communication mix is significantly relevant to customer loyalty in the banking sector in
Ghana. The remaining set of tables comes with results on the second alternative hypothesis. The goal associated with the
rest of the analysis is to examine the influence of each of the variables of the marketing communication construct on
customer loyalty. Tables 6 to 8 come with a regression analysis that assesses the relation between the marketing
communication construct and customer loyalty.
Table 6: Model Summary

Table 6 shows the model summary associated with the regression of items of the marketing communication
construct on customer loyalty. From the table, internet marketing, personal selling, direct marketing, sales promotions,
advertising, public relations, internet marketing and events management account for 93.4% of the variance on customer
loyalty. The variance accounted indicates that these variables highly influence customer loyalty. In essence, the marketing
communication construct highly influences customer loyalty.
Table 7: ANOVAb

Table 7 is an ANOVA test associated with the prediction of customer loyalty by the marketing communication
construct. From the table, the prediction of customer loyalty by each item of the marketing communication construct is a fit
model at 5% significance level, F (7, 112) = 224.67, p = .000. It also means that the prediction of customer loyalty by the
marketing communication construct is a linear function. Table 8 indicates the coefficients of the prediction of customer
loyalty by the IMC construct.
Table 8: Coefficientsa

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Emmanuel Opoku, Regina Appiah-Gyimah & Lipsey Appiah Kwapong

Table 8 shows the coefficients of the prediction of customer loyalty by the marketing communication construct,
which is made up of advertising, personal selling, sales promotion, public relations, direct marketing, events management
and internet marketing. At 5% significance level, each of the manifest variables of the marketing communication construct
significantly predicts customer loyalty. Thus advertising (t = 9.099, p = .000), personal selling (t = 9.961, p = .000), sales
promotion (t = -6.324, p = .000), public relations (t = 4.945, p = .000), direct marketing (t = 5.708, p = .000), events
management (t = -4.165, p = .000) and internet marketing (t = 3.670, p = .000) significantly predict customer loyalty at 5%
significance level. This means that the marketing communication construct predicts customer loyalty. In practice therefore,
financial institutions would need to improve their practice of each aspect of the marketing communication mix to maximize
customer loyalty and possibly financial growth.

DISCUSSIONS
Based on empirical and theoretical evidences, the marketing communication mix is a superior model for achieving
businesses desired service quality, customer satisfaction and loyalty levels. For instance, the research of Akerlund (2004)
and Schultz et al. (2007) are some of the popular sources of theoretical and conceptual evidence on the relevance of
marketing communication mix to achieving service quality, customer satisfaction and customer loyalty. Frimpong (2014)
also provides a related evidence, but from an empirical perspective. Impressively, this study reveals results that harmonize
with these theoretical, practical and empirical evidences.
According to this studys findings, all items of the marketing communication mix are relevant to achieving
customer loyalty in the banking sector in Ghana. This result supports the theoretical frameworks of Akerlund (2004) and
Schultz et al. (2007) which were developed from a general point of view. This implies that the marketing communication
mix is relevant to achieving customer loyalty regardless of which sector or jurisdiction is involved. However, as far as
customer loyalty is concerned, no research provides support for this studys findings from a Ghanaian context.
In the study of Frimpong (2014), items of marketing communication mix influence service quality in the financial
services sector in Ghana, but this study does not touch on customer loyalty. Moreover, his study identifies advertising and
personal selling as the most dominant drivers of service quality while this study identifies advertising, public relations and
events management as the dominant drivers of customer loyalty. Evidently, advertising is a common driver of service
quality and customer loyalty from the viewpoints of Frimpong (2014) and this study respectively. In the study of Frimpong
(2014), personal selling is identified as one of the dominant drivers of service quality because his study employed
insurance firms which largely make use of personal selling. Relative to insurance firms, a low level of personal selling is
employed by commercial banks; so personal selling is more likely to make little contribution to service quality and
customer loyalty.
Though service quality leads to customer loyalty, the effect of elements of the marketing communication mix on
service quality and customer loyalty would not necessarily be the same. It is therefore not completely appropriate to
compare findings in the study of Frimpong (2014), which treats service quality as the dependent variable, to findings of
this study in which customer loyalty is treated as the dependent variable. To this end, more empirical evidences are needed
to understand the dynamics of the effect of marketing communication mix on customer loyalty in a Ghanaian context.
In view of the theoretical support of Akerlund (2004) and Schultz et al. (2007) and the empirical evidence of
Porcu et al. (2012), this study confirms that marketing communication mix positively affects customer loyalty in the

Impact Factor (JCC): 5.3064

Index Copernicus Value (ICV): 3.0

23

The Effect of the Marketing Communication Mix on Customer Loyalty in the Banking Sector in Ghana

banking sector in Ghana. Yet, more empirical evidences are needed in a Ghanaian context to give weight to this result.

CONCLUSIONS
All items of the marketing communication mix were retained in the Factor Analysis as factors that account for
customer loyalty in the banking sector in Ghana. This means that advertising, personal selling, sales promotion, public
relations, direct marketing, events management and internet marketing are relevant to customer loyalty in the banking
sector in Ghana. Based on the extraction values of the items of marketing communication mix, it is made evident that
advertising (extraction value = .862), public relations (extraction value = .849) and events management (extraction value =
.818) better account for customer loyalty relative to the other items. Though relevant to achieving customer loyalty,
personal selling (extraction value = .690) least accounts for customer loyalty in the banking sector in Ghana.
By using ordinary least regression analysis (Remove Method), all items of the marketing communication mix
significantly predict customer loyalty at 5% significance level, contributing 93.4% of the total variance. Thus advertising
(t = 9.099, p = .000), personal selling (t = 9.961, p = .000), sales promotion (t = -6.324, p = .000), public relations
(t = 4.945, p = .000), direct marketing (t = 5.708, p = .000), events management (t = -4.165, p = .000) and internet
marketing (t = 3.670, p = .000) significantly predict customer loyalty at 5% significance level.
Therefore, the marketing communication mix makes a significant positive effect on customer loyalty in the
banking sector. Invariably, as the effectiveness of advertising, personal selling, sales promotion, public relations,
direct marketing, events management and internet marketing improves among commercial banks, customer loyalty is also
enhanced.
Commercial banks in Ghana would therefore have to channel resources towards improving the deployment and use
of advertising, personal selling, sales promotion, public relations, direct marketing, events management and internet
marketing. To buttress the empirical evidence provided in this study, future studies should be based on other financial
service sectors such as insurance and nonbank financial services sector. Instead of using secondary data, future researchers
could employ primary data or a combination of primary and secondary data to see how findings would agree with those of
this study and other popular studies entirely based on secondary data.

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Impact Factor (JCC): 5.3064

Index Copernicus Value (ICV): 3.0