MEASUREMENT OF THE MARKETING MIX OF SERVICE, SATISFACTION AND LOYALTY OF CUSTOMERS IN A RETAIL BANK

Specifics of services such as intangibility, inseparability, variability, and perishability of services are a matter that should be treated differently in relation to industrial marketing. Gilmore (2003) and Kotler, Hayes, and Bloom (2002), among others, present the marketing mix of services (7Ps): processes, people, physical evidence, product, place, promotion, and price. Moreover, fierce competition in services forces companies to seek differentiation and to aim to achieve customer loyalty. The aim of this paper is to examine the relationship between the marketing mix of services proposed by Kotler, Hayes, and Bloom (2002) and satisfaction, as well as the relationship between satisfaction and loyalty of customers' perceptions of a retail bank. The results support the model tested, i.e., the 7Ps (with the exception of physical evidence) positively impact customer satisfaction and satisfaction has a positive and significant impact on loyalty.