Deregulation and various reforms in Ghana’s financial sector have made
the Ghanaian banking industry an intensely competitive proposition. Due to
such competitive environment, it has become crucial not just to attract every
potential customer but also to develop strategies aimed at maintaining the
existing customers. This study, therefore, sought to explore the factors that
influence customers’ choice of bank in the Cape Coast Metropolis in Ghana. A
descriptive cross-sectional survey research design was adopted for this study.
Multi-stage sampling technique was employed. Data was obtained using selfadministered questionnaires from 410 customers of five banks in the Cape
Coast Metropolis. Multinomial logistic regression was used to examine the
relationship between demographic characteristics, advertising, branding,
distance to bank location, innovative products and customers’ choice of bank.
The results revealed a significant relationship between customers’ choice of
bank and the variables of interest including educational level, occupation,
advertising, branding, distance to bank location and innovative products
offered by banks. Therefore, the study recommends that, banks operating in
the Cape Coast Metropolis should improve upon their brand image and
reputation. Bank branches should be sited at areas such as business and market
centers which have the propensity to attract potential and maintain existing
customers. Banks should develop products that serve the needs of the average
Ghanaian and also embark on intensive advertising campaign about the
benefits of their current products and services to the general populace.
African Research, R (2021). Factors Influencing Customers’ Choice Of Bank In The Cape Coast Metropolis. Afribary.com: Retrieved April 14, 2021, from https://afribary.com/works/factors-influencing-customers-choice-of-bank-in-the-cape-coast-metropolis
Resources, African Research. "Factors Influencing Customers’ Choice Of Bank In The Cape Coast Metropolis" Afribary.com. Afribary.com, 03 Apr. 2021, https://afribary.com/works/factors-influencing-customers-choice-of-bank-in-the-cape-coast-metropolis . Accessed 14 Apr. 2021.
Resources, African Research. "Factors Influencing Customers’ Choice Of Bank In The Cape Coast Metropolis". Afribary.com, Afribary.com, 03 Apr. 2021. Web. 14 Apr. 2021. < https://afribary.com/works/factors-influencing-customers-choice-of-bank-in-the-cape-coast-metropolis >.
Resources, African Research. "Factors Influencing Customers’ Choice Of Bank In The Cape Coast Metropolis" Afribary.com (2021). Accessed April 14, 2021. https://afribary.com/works/factors-influencing-customers-choice-of-bank-in-the-cape-coast-metropolis