Determinants of Banks Patronage in Nigeria: The Search, Experience and Credence Factors for Sustainable
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Date
2018
Journal Title
Journal ISSN
Volume Title
Publisher
Journal of Sustainable Development in Africa.
Abstract
This study seeks to examine Search, Experience and Credence (SEC) factors as determinants of banks’ patronage and its implication on fund mobilization and fund applications for sustainable development in Nigeria. Purposive and convenience sampling techniques were employed to select the sample size of the account holders in the selected banks. Data were collected by use of self-administered questionnaire on a 7-point Likert scale. Findings revealed that Search attributes ranked higher followed by Experience attributes and the Credence attributes in that order. The study concluded that bank customers are highly sensitive to the SEC before making decision about patronage. Therefore, Service Organizations like banks should consider these when developing strategy for customers’ patronage. The paper recommends that banks’ marketers and customer relationship officers should be properly trained on the importance of SEC attributes in order to attract customers for patronage.
Description
Keywords
Customer Satisfaction, Search, Experience and Credence attributes, Customer Patronage, Fund Mobilization, Fund Application, Sustainable Development
Citation
20(3): 54-69