Customer Perceived Value: A Case study of the banking industry in Ghana

TABLE OF CONTENTS

ABSTRACTIV

CHAPTER 1: INTRODUCTION1

Introduction1

Background1

Rationale for Selecting the Topic3

Aims and Objectives of the Research4

Research Question4

Hypthesis4

Organization of the Study4

CHAPTER 2: LITERATURE REVIEW6

Customer Perceived Value: Definition and Dimensions6

Customer Perceived Value, Personal Values, and Consumption Value8

Pre-Purchase Value and Post-Consumption Value10

Relationship Marketing - Customer Relationship Management Model11

Mobile Marketing and its use12

The optimized mobile banking13

Development of Branding13

CHAPTER 3: METHODOLOGY16

Introduction16

Research Approaches17

Overview of the Mixed Method Research Approach17

Data analysis18

Source of the Information18

Sampling18

Sample size18

Instrumentaiton19

Validity and Reliability19

Time Scale20

CHAPTER 4: FINDINGS AND DISCUSSION21

Questionnaire Analysis21

Interview analysis33

Hypothesis testing38

CHAPTER 5: CONCLUSION39

Future of mobile banking in Ghana43

REFERENCES44

APPENDICES51

QUESTIONNAIRE51

ABSTRACT

In this study we try to explore the concept of mobile marketing in a holistic context. The main focus of the research is on consumer's behaviour towards mobile banking marketing in Banking Sector. The research is conducted through a primary methodology. Both quantitative and qualitative methodologies were used. Surveys were conducted from customers of Banks in Ghana and interviews were conducted from the managers of those Banks in Ghana. The result shows various consumer attitudes towards mobile marketing, which organisations can understand and attract customers.

CHAPTER 1: INTRODUCTION

Introduction

The title of the project is “Examining the acceptance of mobile marketing by customers of Banks in Ghana”. The entire research would focus on different aspects of mobile marketing and how Banks in Ghana are utilising it. This research would utilise a case study approach and case studies of different banks in Ghana are included in this research so that this research can easily depict that emphasis is laid on practical research. Besides that this research would focus on certain other aspects of marketing while the emphasis would be strongly laid on mobile marketing.

Background

Customer perceived value is an important concept. Lot of research has been conducted on customer perceived value. The consumer intention to use or purchase a product depends on the customer perceived value. If the customer perceives the product as useful, the customer will be inclined to buy that product. The behavior of consumer is mainly dependent on the perceived value and hence it is seen as an important concept. Marketers work to improve the perceived value in the consumer mind. The consumer perceived value is seen as a source of competitive advantage (Wixom 2005). There are many definitions of customer perceived value. All definitions stress that customer perceived value is what the customer perception is about the product and what he actually gets. The main components of CPV include the benefit and sacrifice components. The ultimate goal for firms is to build customer loyalty. With loyal customers, companies can reduce the operating cost and acquisition expenses. Reichheld and Sasser (1990) clearly state that an improvement of 5 percent in customer retention leads to an increase of25 percent to 75 percent in profit. Wills (2009) stated that it costs more than five times as much to obtain a new customer than to keep an existing one. Moreover, with loyal customers, for example, companies can increase their revenue. First, loyal customers are fewer prices sensitive. The premiums of loyal customers ...