MARKETING STRATEGIES AND CUSTOMER SATISFACTION IN SELECTED BANKS IN LAGOS STATE

Abstract

This study examined the influence of brand awareness, innovation orientation, and market orientation on customer satisfaction, customer retention, and brand loyalty within the Nigerian banking sector, focusing on First Bank of Nigeria Limited and Guaranty Trust Bank Limited. A cross sectional survey research design was adopted, and data were collected from 420 bank customers using a structured questionnaire based on a five point Likert scale. Data were analysed using descriptive statistics and multiple regression analysis with IBM SPSS Version 27 to test the stated hypotheses. The findings revealed that brand awareness, innovation orientation, and market orientation jointly have a significant effect on customer satisfaction, retention, and loyalty. Innovation orientation consistently emerged as the strongest predictor across all models, indicating the critical role of continuous service improvement and digital adaptation in shaping customer outcomes. Market orientation also showed strong and significant effects, demonstrating the importance of effective market intelligence and customer responsiveness. Brand awareness had a positive but comparatively weaker influence, suggesting that visibility alone is insufficient without innovation and market driven strategies. The study concludes that customer related outcomes in Nigerian banking are primarily driven by an integrated combination of strategic marketing capabilities rather than isolated factors. It recommends that banks strengthen innovation processes, improve data driven market responsiveness, and enhance brand positioning to achieve sustained customer satisfaction and loyalty.