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The effects of normative social belief systems and customer satisfaction on rural savings programs in Ghana

The effects of normative social belief systems and customer satisfaction on rural savings... This study examines the effects of normative social beliefs, customer satisfaction with service quality and demographic variables on the long‐term savings behavior of rural households some 15 years after the 1981 large‐scale promotion of the rural bank program in Ghana. The results show that considerations of these influences beyond income alone provide stronger predictive power, over and above that of income. In addition, it appears that the negative effects of social beliefs on savings behavior were ameliorated significantly as a result of the promotional program. Similarly, customer satisfaction with the level of service quality was also positively correlated with the level of savings. However, the effects of the marketing approach used in Ghana differed significantly across state owned commercial banks, foreign multinational banks, and rural banks. The implications for enhancing the role of promotional marketing in changing savings attitudes in rural savings mobilization programs in Ghana and elsewhere in Africa are discussed. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Management Decision Emerald Publishing

The effects of normative social belief systems and customer satisfaction on rural savings programs in Ghana

Management Decision , Volume 41 (3): 8 – Apr 1, 2003

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Publisher
Emerald Publishing
Copyright
Copyright © 2003 MCB UP Ltd. All rights reserved.
ISSN
0025-1747
DOI
10.1108/00251740310469422
Publisher site
See Article on Publisher Site

Abstract

This study examines the effects of normative social beliefs, customer satisfaction with service quality and demographic variables on the long‐term savings behavior of rural households some 15 years after the 1981 large‐scale promotion of the rural bank program in Ghana. The results show that considerations of these influences beyond income alone provide stronger predictive power, over and above that of income. In addition, it appears that the negative effects of social beliefs on savings behavior were ameliorated significantly as a result of the promotional program. Similarly, customer satisfaction with the level of service quality was also positively correlated with the level of savings. However, the effects of the marketing approach used in Ghana differed significantly across state owned commercial banks, foreign multinational banks, and rural banks. The implications for enhancing the role of promotional marketing in changing savings attitudes in rural savings mobilization programs in Ghana and elsewhere in Africa are discussed.

Journal

Management DecisionEmerald Publishing

Published: Apr 1, 2003

Keywords: Banking; Marketing; Ghana; Rural areas; Society

References