Assessment of Internal Marketing Strategies and Employee Job Satisfaction in Select Financial Institutions in South-East Nigeria: A Comparative Study

Author(s)

Okolo, Victor O , Obikeze, Chinedum O , Mmamel, Zita U , Eze, Egodi M , Otugo, Esther N , Nwangene, Ogochukwu C , Oranusi, Ifeanyichukwu N ,

Download Full PDF Pages: 18-41 | Views: 922 | Downloads: 276 | DOI: 10.5281/zenodo.3455992

Volume 7 - September 2018 (09)

Abstract

This paper aims at a comparative study of internal marketing strategies and customer job satisfaction with financial institutions in South-East Nigeria. Dimensions such as training and development; reward and recognition; internal communication and empowerment were used so also measures like employee and customer orientation which is organizational structure towards integrating the unit of measures of employed variables. Primary data were sourced with structured questionnaire from 5 deposit money banks and 5 insurance firms in the zone. Spearman’s Rank Order correlation coefficient was used to analyse the data using the statistical package for social sciences (SPSS) version 22. The study discovered that training and development shows a positive and significant relationship with employee and customer orientation as a measure for performance in banks and insurance firms in the South-east, reward and recognition displays a positive and significant relationship with employee and customer orientation of organizations in South-East Nigeria, internal communication and empowerment shows a positive and significant relationship with employee customer orientation of financial institutions in South-East Nigeria, training and development reveals a more positive and significant relationship with employee performance in the banks than insurance firms, so also reward and recognition. Internal communication and empowerment shows a positive and greater significant relationship with bank’s employee performance than insurance. Organizational structure on the hand does not moderate the relationship between internal market adoptions and firm effect in the financial organizations. It can be concluded that, adoption of good internal marketing strategies boost the job satisfaction of internal customers who in effect render satisfactory services to external customers. It is therefore recommended that management of both deposit money banks, and insurance should, as much as possible, provide attractive work environment for employees to boast their decisions to stay with, and give their best to the institutions.

Keywords

Internal marketing, Psychological capital theory, Dynamic capability theory and Customer satisfaction

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Cite this Article:

Okolo, Victor O, Assessment of Internal Marketing Strategies and Employee Job Satisfaction in Select Financial Institutions in South-East Nigeria: A Comparative Study, American Based Research Journal 09(2018):18-41 DOI: 10.5281/zenodo.3455992