Limitations and future research directions
The study gauges the effect of ‘7Ps’ of services marketing mix on Indian customer in the context of bank marketing. The research, however, is subject to some limitations. The study results obtained by the convenience sampling method were difficult to generalise to the population because it was a type of non-probability sampling. A more representative sampling technique needs to be considered in future research to generalise the findings of the study. The current study was primarily a cross-sectional due to time and cost constraints, although a longitudinal study is recommended to monitor the evolution of customer behaviour over time. It is important to note that the study is limited to a sample size of 351 Indian customers. The larger sample sizes with foreign customers residing and having bank accounts in India can be considered by future researchers. The scope of the study is also limited to the number of banks (15) in the research. The application of the services marketing mix elements identified in the study cannot be generalised as we have taken only one industry (banking). To confirm its applicability in other financial services like insurance, loans, share trading etc., the same study should carry out in various other financial service based firms. There is obviously opportunity for a similar study in different geographic locations. Finally, the future research is recommended to measure the effect of identified services marketing mix elements on bank performance. However, irrespective of limitations, the current paper has contributed toward the existing literature by demonstrating that identified services marketing mix such as physical evidence, process, place, and people have the positive and significant effect on Indian customer in the context of banking services.
ข้อจำกัดและทิศทางการวิจัยในอนาคตThe study gauges the effect of ‘7Ps’ of services marketing mix on Indian customer in the context of bank marketing. The research, however, is subject to some limitations. The study results obtained by the convenience sampling method were difficult to generalise to the population because it was a type of non-probability sampling. A more representative sampling technique needs to be considered in future research to generalise the findings of the study. The current study was primarily a cross-sectional due to time and cost constraints, although a longitudinal study is recommended to monitor the evolution of customer behaviour over time. It is important to note that the study is limited to a sample size of 351 Indian customers. The larger sample sizes with foreign customers residing and having bank accounts in India can be considered by future researchers. The scope of the study is also limited to the number of banks (15) in the research. The application of the services marketing mix elements identified in the study cannot be generalised as we have taken only one industry (banking). To confirm its applicability in other financial services like insurance, loans, share trading etc., the same study should carry out in various other financial service based firms. There is obviously opportunity for a similar study in different geographic locations. Finally, the future research is recommended to measure the effect of identified services marketing mix elements on bank performance. However, irrespective of limitations, the current paper has contributed toward the existing literature by demonstrating that identified services marketing mix such as physical evidence, process, place, and people have the positive and significant effect on Indian customer in the context of banking services.
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