The influence of marketing mix on trust, satisfaction and customer loyalty of Siam Commercial Bank Ratchadapisek (Thapra) Area Office

Abstract

The objectives of this research were (1) to study the influence of marketing mix which consisted of the dimensions of product or service, price, place and promotion on trust (2) the study the influence of marketing mix and trust on satisfaction (3) to study the influence of trust and satisfaction on loyalty of Siam Commercial Bank Public company Limited (4) to validate a causal relationship model of influence of marketing mix on trust, satisfaction and customer loyalty of Siam Commercial Bank Public company Limited with empirical data. The variables in this investigation consisted of the following; marketing mix consist of the dimensions of, product or service, price, place and promotion as the independent variables; trust and satisfaction as mediating variables; and customer loyalty as dependent variable. The researcher used quantitative methods which involved empirical research. The instrument of research was a questionnaire used to collect data form 421 customers of Siam Commercial Bank Public Company Limited, Ratchadapisek (Thapra) Area office total 30 branches. The statistics in data analysis were frequency, percentage mean, standard deviation and structural equation model analysis. It was found the model was consistent with the empirical data. Goodness of fit measures were found to be Chi-square (x2) = 464.207; degree of freedom = 463; p-value = 0.479; Relative Chi-square (x2/ df) =1,002; comparative fit index (CFI) = 1,000 Standardized Root Mean Square Residual (SRMR) = 0.028; goodness of fit index (GFI) =0.942; adjusted goodness of fit index (AGFI) = 0.917; and Root Mean Square error of Approximation (RMSEA) = 0.002. It was also found that (1) marketing mix in the dimension of Product or service had a positive and direct influence on trust; (2) marketing mix in the dimension of price Had a positive and direct influence on trust; (3) marketing mix in the dimension of place had a positive and direct influence on trust; (4) marketing mix in the dimension of promotion had a positive and direct influence on trust; (5) marketing mix in the dimension of product or service had a positive and direct influence on satisfaction; (6) marketing mix in the dimension of price had a positive and direct influence on satisfaction; (7) marketing mix in the dimension of place had positive and direct influence on satisfaction; (8) marketing mix in the dimension of promotion had a positive and direct influence on satisfaction; (9) trust had positive and direct influence on satisfaction; (10) trust had a positive and direct influence on customer loyalty; and (11) satisfaction had a positive and direct influence customer loyalty. On the basis of these findings, the researcher recommends that Branch of Siam Commercial Bank Public Company Limited more fully focus on marketing mix in the dimensions of product or service, price, place, and promotion to deepen trust, satisfaction and customer loyalty.