Extended Marketing Mix Strategy and Organizational Performance: Evidence from Bank of Abyssinia, Ethiopia

Ayele Fettera
Department of Management at Hawassa University, Hawassa, Ethiopia

Brehanu Borji
main advisor of dissertation

Dejene Adugna
PhD in Management at Hawassa University, Ethiopia

Abstract

In today’s business world, giving attention for the extended marketing rather than 4P is very vital to maximize the organizational performance. Thus, the aim of the present investigation was to assess the linkage between     Extended Marketing Mix Strategy and Organizational Performance by taking Evidence from Bank of Abyssinia, Ethiopia. To achieve the objective, the investigators used quantitative research approach which delivers clear and measurable outcome. In line with the selected approach, the researchers utilized explanatory design. From the target population of 11,508, the investigators selected 372 employees as samples by using stratified sampling procedure. Data were collected from both firsthand and secondhand sources through organized instrument. To check the soundness and reliability of the questionnaire, the investigators used different statistical techniques like composite reliability, average variance extracted, and Cronbach’s alpha techniques. To commence data analysis, the researchers utilized factor analysis and Structural Equation Modeling (SEM). Factor investigation helped to simplify the data into a more manageable form while SEM was used to see the statistical connection among   extended marketing mix components with private bank performance. The study found that positive and remarkable influence of marketing mix assortment such as product, promotion; place, price, process, people, and Physical evidence on Organizational success. This investigation contributes by advancing responsiveness of bank management regarding the marketing mix strategy, organizational success and by offering methodological accuracy in measuring a connection between constructs. Practically, it recommends that to achieve a sustainable organizational performance, using properly marketing mix strategy in banking sector is vital to develop framework for sustainable private bank performance in Ethiopia.

Keywords: Extended Marketing Mix strategy, Private Bank, organizational Performance, Structural Equation Modeling

Author Biographies

Ayele Fettera, Department of Management at Hawassa University, Hawassa, Ethiopia

Brehanu Borji , main advisor of dissertation

professor of marketing management at hHawassa University 

Dejene Adugna, PhD in Management at Hawassa University, Ethiopia