The Impact of Different Types of Innovations on Customer Satisfaction in Microfinance Bank in Nigeria
Nwachukwu, Chijioke (2018)
Jyväskylän ammattikorkeakoulu
2018
Creative Commons Attribution 3.0 Unported
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2018121221150
https://urn.fi/URN:NBN:fi:amk-2018121221150
Tiivistelmä
This study examined the impact of different types of innovation on customer satisfaction with the ABCD Microfinance Bank Ltd. in Nigeria. The main objective of the study was to propose recommendations to the managers of the ABCD Microfinance Bank Ltd. on how to improve customer satisfaction base on the evaluation of the different types of innovations.
The analyses in the study were based on theoretical insights from management literature to better understand how service innovation, process innovation and marketing innovation enhance customer satisfaction. Three research questions were used in attempting to reach the objective of the study: (1) Does service innovation influence the level of customer satisfaction in microfinance banks? (2) Does process innovation have a positive impact on customer satisfaction level in microfinance banks? (3) Is marketing innovation positively related to the satisfaction level of the customers of microfinance banks?
The study focused on one microfinance bank and used quantitative methods and a survey to obtain information from the customers of the case MFB. The findings suggested that service innovation had a significant and positive impact on customer satisfaction with the ABCD Microfinance Bank Ltd. Similarly, the results showed that process innovation has a significant impact on customer satisfaction. Furthermore, the relationship between marketing innovation and customer satisfaction was positive and significant. This study contributes to the existing literature by providing experience on the relationship between different types of innovation and customer satisfaction in an emerging market (Nigeria). The results of the study are useful in practice.
The analyses in the study were based on theoretical insights from management literature to better understand how service innovation, process innovation and marketing innovation enhance customer satisfaction. Three research questions were used in attempting to reach the objective of the study: (1) Does service innovation influence the level of customer satisfaction in microfinance banks? (2) Does process innovation have a positive impact on customer satisfaction level in microfinance banks? (3) Is marketing innovation positively related to the satisfaction level of the customers of microfinance banks?
The study focused on one microfinance bank and used quantitative methods and a survey to obtain information from the customers of the case MFB. The findings suggested that service innovation had a significant and positive impact on customer satisfaction with the ABCD Microfinance Bank Ltd. Similarly, the results showed that process innovation has a significant impact on customer satisfaction. Furthermore, the relationship between marketing innovation and customer satisfaction was positive and significant. This study contributes to the existing literature by providing experience on the relationship between different types of innovation and customer satisfaction in an emerging market (Nigeria). The results of the study are useful in practice.