Modelling value based banking and customers' banking choices in the era of Marketing 3.0: an empirical study with logistic ordinal regression approach

摘要

Marketers keep on evolving ways and means to attract as well as retain the customers. During the last few decades, the marketing practices have been changed rapidly. The consumers now wish to be associated with those organisations and brands, which are ethical and follow high standards of integrity. Such aspects have been incorporated in the concept of Marketing 3.0, which is based on value-based matrix (VBM). The present study empirically predicts the construct of VBM in the banking industry context. The sample size of the study is 283. The logistics ordinal regression was applied with 27 items to identify the predictive constructs of value-based banking. 'Selection of bank based on value system' was the dependent variable and the independent variables contained 25 statements covering value-based banking along with 2 covariates 'age' and 'education'. It was found that 'value-based banking' and 'education' have significant impact on the dependent variable.