A study on analysing the marketing strategy and its impact on organisations business growth

and customer satisfaction: A case study on Santander UK plc

TABLE OF CONTENTS
LIST OF FIGURES .......................................................................Error! Bookmark not defined.
LIST OF TABLES .........................................................................Error! Bookmark not defined.
ABSTRACT ...................................................................................Error! Bookmark not defined.
CHAPTER 1: INTRODUCTION. ..................................................Error! Bookmark not defined.
1.1. Background of the Study ....................................................Error! Bookmark not defined.
1.2. Problem Statement ..............................................................Error! Bookmark not defined.
1.4. Rationale of the Research ...................................................Error! Bookmark not defined.
1.4.1. The Research Issue ..........................................................Error! Bookmark not defined.
1.4.2. Justification of the study..................................................Error! Bookmark not defined.
1.4.3. Research Objectives ........................................................Error! Bookmark not defined.
1.4.5. Research Questions .........................................................Error! Bookmark not defined.
1.5. Research aims .....................................................................Error! Bookmark not defined.
CHAPTER 2: LITERATURE REVIEW ......................................Error! Bookmark not defined.
2.1. Introduction .........................................................................Error! Bookmark not defined.

2.2. Integrated marketing: critical analysis ................................Error! Bookmark not defined.

2.3. Shifts in integrated communications: basic components ....Error! Bookmark not defined.
2.4. Marketing and customer satisfaction ..................................Error! Bookmark not defined.
2.5. Summary of Literature Review...........................................Error! Bookmark not defined.
CHAPTER 3: RESEARCH DESIGN AND METHODOLOGYError! Bookmark not defined.
3.1. Introduction .........................................................................Error! Bookmark not defined.
3.2. Research Paradigm .............................................................Error! Bookmark not defined.
3.3. Research Strategy ...............................................................Error! Bookmark not defined.
3.4. Research design and methodology .....................................Error! Bookmark not defined.
3.5. Research approach ..............................................................Error! Bookmark not defined.
3.6. Time purpose ......................................................................Error! Bookmark not defined.
3.7. Target population ................................................................Error! Bookmark not defined.
3.8 Sample size and procedure .................................................Error! Bookmark not defined.
3.7.. Data Collection .................................................................Error! Bookmark not defined.
3.8. Accesibliity issues...............................................................Error! Bookmark not defined.
3.9. Ethical issues......................................................................Error! Bookmark not defined.
3.9.Data analysis plan ................................................................Error! Bookmark not defined.
3.9.Research limitations ............................................................Error! Bookmark not defined.
3.9.Data collection instruments .................................................Error! Bookmark not defined.
3.10. Validity of instruments .....................................................Error! Bookmark not defined.
3.11. Time table .........................................................................Error! Bookmark not defined.
CHAPTER 4: DATA COLLECTION AND ANALYSIS ........Error! Bookmark not defined.
4.1. introduction .........................................................................Error! Bookmark not defined.
4.2. Return rate of the questionnaires ........................................Error! Bookmark not defined.
4.3. Demographic information of the respondents ....................Error! Bookmark not defined.

4.3.1 Identity
4.3.2. Age
4.3.3 Gender
4.3.4 Marital status
4.4. Marketing plan of the bank .................................................Error! Bookmark not defined.
4.5. Type of the marketing strategy ...........................................Error! Bookmark not defined.
4.6 Duration of the adoption of the strategy
4.7 Staff contribution
4.8 Profitability and marketing strategy
4.9 Generational expectation
4.10 Marketing strategy and client needs
4.11 Marketing and communication
4.12 Marketing and partnerships
4.13 Marketing and product mobility
Marketing and institutional growth
CHAPTER 5: CONCLUSION AND RECOMMENDATIONS ...Error! Bookmark not defined.
APPENDICES ...............................................................................Error! Bookmark not defined.
References ......................................................................................Error! Bookmark not defined.

LIST OF FIGURES
Figure 1: identity of the respondents
Figure 2: Age of the respondents
Figure 3: Gender of the respondent
Figure 4: Does the strategy meet generational expectation?
Figure 5: Marketing strategy and customer needs
Figure 6: Extent to which marketing strategy enhances customer satisfaction
Figure 7: Marketing has led to increased product mobility

LIST OF TABLES
Table 1: Identity of the respondent
Table 2: Age of the respondents
Table 3: Gender of the respondent
Table 4: Marital status of the respondent
Table 5: Does Santander have a marketing plan?
Table 6: Type of marketing strategy adopted by Santander
Table 7: Duration of adoption of the marketing strategy currently in use
Table 8: Staff contribution to the marketing strategy
Table 9: marketing strategy
Table 10: Does Santander have a well-defined marketing strategy
Table 11: Efficacy of the marketing strategies
Table 12: Does the strategy meet generational expectation?
Table 13: Marketing strategy and customer needs
Table 14: Marketing strategy gives the customers an opportunity to communicate back
Table 15: Marketing has led to wider customer base
Table 16: Strategy aids in building partnerships

ABSTRACT
The growth of any corporation is intertwined with the marketing structures put in place by the
entity. Santander bank has adopted very important integrated marketing techniques to help it
remain afloat in the highly competitive financial sector in the UK. This research projected has
sought to explore these marketing strategies and evaluate them against their roles in
enhancing customer satisfaction and enhancing corporate growth. With a sample size of 100,
this work interviews both the staff members and the clients of the bank to establish how the
marketing strategies incepted by the bank have led to the growth of the entity
The research work uses a quantitative aspect of research to establish the responses to the
research questions regarding the implementation of its marketing strategies and the
subsequent impact on customer care and the growth of the company in general. Through
statistical analysis that incorporates SPSS, the work conclusively assert there is indeed a very
clear relationship between the concept of marketing as established by Santander, and the
concept of customer clear and eventually, the evolution of business entities

CHAPTER ONE: INTRODUCTION

1.1 Introduction
Santander UK plc. Is one of the leading financial institutions in the UK. It provides banking
and financing services to millions of customers all over the UK on a daily basis. Currently, it
is one of the UK's biggest personal financial services providers and one of the largest
companies to offer savings and mortgages in the UK. According to the most recent financial
reports, Santander is currently serving close to14 million active customers. The total number
of employees stands at 20,000 employees with 50 corporate business centres and 1010
branches.
Santander UK was founded in January 2010 in London after the merger of Abbey National
plc with the branches and savings business of Bradford & Bingley plc. Alliance & Leicester
plc joined the merger later in May 2010. The three constituent companies have been well
recognized throughout the UK for many decades before joining hands and forming a merger
in the shape of Santander UK. The high street branches were a familiar sight to the customers
as Abbey National bank before the formation of Santander UK plc.
Over time, Santander has endured strenuous global economic inclements to become one of
the leading financial institutions in the UK. In addition, the institution has had to weather
some of the corporate challenges that have dogged its operations since the inception of the
bank. As noted in the J.D Power Retail banking satisfaction study of 2006, Santander bank
had one of the worst customer service experiences. This indicates the huge failures in
corporate governance that the institution has undergone.
As enshrined in its growth and expansion rubric, Santander is focused in establishing itself as
a global icon in the financial sector. The growth and development plan of the institution
focuses on five key pillars

developing an integrated marketing strategy to increase the market potential of the

institution

Enhancing the customer experience through service delivery

Infrastructural development

Increased business presence through product diversification and locational expansion

Injecting professionalism through improved avenues of staff hiring and management

of the human resource facet

The entity has acknowledged the fundamental role of marketing in advancing the growth of
the business. This is reflected in the growth rubric as the marketing strategy is on top of the
growth and development agenda. Currently, the marketing options of the bank have been put
under review after the near dismal performance of the department in the last decade. It is thus
understandable why Santander is having very tangible investments regarding the marketing
portfolio of the company.
In a perfect economic or commercial template, the role of marketing in ensuring business
continuity cannot be overemphasised. Depending on the construct of the market segment,
marketing gives a very fundamental significance to business entities. The role of any strategic
marketing idea or initiative is to sync these newer marketing precepts, to the existing
marketing framework. Santander, in its quest to advance its marketing framework, has
outlined a framework through which the marketing portfolio will operate
1.2 Background of the study
In the current commercial dispensation, marketing of any product or facet of the business is
very critical. The global competitiveness in businesses has forced business entities to make an
extra step in their marketing portfolio to meet the competition threshold of other business
entities. Santander bank, in a similar fashion, is witnessing very massive product competition
in the highly competitive financial sector. In an era where the quality of products provided by
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commercial entities is almost leveling, there are many tendencies for the growth curve to
obey the law of diminishing returns. Nonetheless, there is a very logical inference to the
implementation of marketing strategies to overcome the competitive forces existing in the
global financial markets. Through the study of Santanders market operational strategy, this
work will offer a consummate discourse on the necessity of marketing strategies in running
businesses. Specifically, the research study will explore some of the market strategies
(integrated market strategy platform) within the marketing sector where the bank operates.
Consequently, the research study will further outline the impact of the integrated marketing
strategy in the operations of the bank
1.3 Problem statement
The role of marketing within any commercial locus is critical in growth. Marketing,
according to Werner & Kumar (2000), forms the basic embroidery of a companys growth
tangent. Marketing directly influences the purchase decision of any client thus enhancing the
product mobility of the institution. The banking industry, just like the other conventional
business set ups, rely heavily on the concept of marketing as a tool of ensuring that the
business plan is executed well (Michael, James, and Daryl, 2000).
The banking sector, just like other business entities, does a lot of inspiration and growth
through marketing. Santanders evaluation of the current market segment has obligated it to
structure its market structure. As outlined by Michael, James, and Daryl (2000) there is a
crucial role of business entities in understanding the dynamics of a specific market strategy if
the results or the objectives desired are to be met. In concept, there is an obligation by
Santander to draft a practicable marketing structure that can yield results. In practice, these
strategies must be efficient in addressing the marketing gaps that had been recorded earlier.
Marketing dwells more on perception. This realization by the institution has witnessed
several aspects of marketing implement psychological constructs to advance their marketing

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strategies. At the inception of any new product, Santander has implemented these theoretical
marketing constructs to help win over a constituency of consumers to its products. the
subsidiaries of the bank have been indicated to be deeply engaged in the enhancement of the
customer experience through the existing marketing platforms outlaid by the institution. The
strategies of these marketing domains and the inspired output are the focal points of this
study topic regarding Santander.
The gradual growth in Santanders marginal profits, and increased client base can be
attributed to the intense marketing strategies that the bank has undertaken so far. There ia a
logical conclusion that marketing strategies (when implemented intelligibly) are likely to
inspire the expansion of the institution. Santanders marketing dominion in the UK has
considerably gained value, according to analysis; the aggressive product marketing has been
listed as one of the most successful agents of this increased market share. In conclusion, the
systematic growth of Santander is a corroboration of the nexus that exists between marketing
as a theoretical concept, and the growth of an economic outfit. There is sufficient belie that
the marketing framework of any entity, plays s very significant and fundamental role in the
continuity of the business growth cycle.
1.4 Rationale of the study
1.4.1 Research issue
Understanding the dynamics of any market locus of specific products is crucial in
establishing a market strategy for the products. Santanders growth prospects in the highly
competitive banking sector are intertwined with the knowledge regarding the consumer
expectations of the products of the institution. The understanding of this research project is
based on understanding the need to devise proper and effective marketing strategies to deal
with the shifting market constructs. The evaluation of these new marketing strategies is
crucial in advancing newer modalities of understanding the consumer. The main issue in this
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dissertation is to understand how marketing, as a business concept, plays part in the

enhancement of the business growth indices
1.4.2 Justification of the study
Advancing growth and improvement of business growth are some of the two primary
motivations of any business entity. Growth in commerce is however a product of several
activities including marketing. This research work will focus on Santanders implementation
of integrated market strategy to enhance its growth. Essentially, the work is quite significant
in exploring growth of businesses through an integrated marketing approach.
Improved business standards dictate that any strategy for increasing profits and product
mobility should be invariably evaluated. The purpose of this evaluation is to fortify these
strategies so that they are in harmony with the existing practical situations within the market.
This research study will work as an evaluation tool by the Santander Company to assess the
existing marketing aspects that it employs and the implications of the same in the business.
To be specific, the work will outline the principles entailed in the integrated marketing
platform since it is the basic marketing template that Santander has adopted.
1.4.3 Research objectives

To analyze the marketing strategy that Santander UK uses to market its

products and services to its customers

To determine the effects of Santander UKs marketing strategy on business

growth

To determine the effects of Santander UKs marketing strategy on customer

satisfaction

1.4.4 Research questions

What marketing strategy does Santander UK use to market its products and
services to its customers?
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What are the effects of Santander UKs marketing strategy the banks business
growth?

What are the effects of Santander UKs marketing strategy on the banks
customer satisfaction?

Are the marketing strategies implemented by the bank in sync with the
dynamics of the market segment where the bank operates?

1.5 Research Aims

Since its establishment in 2010, Santander UK has learned that customer satisfaction is the
most important aspect of their business and they have taken huge steps to improve that.
Santander UK had to pull out of a deal to buy branches of RBS and Scotland part of NatWest
bank. The customers are feeling the tension and are losing their trust in the bank. If this goes
on for long, this can damage the banks reputation irreparably. That not only will halt the
growth of the bank but also has the potential to send it to a downward slope.
It has been made known to the bank via customers feedback and a number of other sources
that the bank is losing its place among its core clientele and a study needs to be done as soon
as possible to address that issue. It is not only about growth and expansion; it is almost about
survival. The main competitors are already way ahead in the game and are becoming
impossible to compete. The purpose of the study analyse the banks marketing strategy in
Santander UK. The study will also look into the effects the marketing strategy on business
growth and customer satisfaction in the short-run and long run.

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CHAPTER TWO: LITERATURE REVIEW

2.1 Introduction
The significance of any marketing activity in a commercial setting cannot be
overemphasised. Marketing plays a crucial role in advancing the growth of the business.
However, marketing, as a tool must be based on very sound and practical market constructs.
Conventionally, the institution of any marketing principle within any business must be
anchored on very sound principles that are derived from a strategic analysis of the market
morphology. Santander UK plc is cognisant of the significance of integrating various
marketing models to ensure the mobility of its products is achieved. As incepted in its
development and growth template, Santander UK plc has taken very significant steps in
harnessing its resources and channelling them towards very relevant marketing strategies as a
model of inspiring its growth and development. As outlined by Ejup and Alban (2013) in the
work, The Importance of Marketing in helping Companies with their Growth Strategies,
marketing marks the spine of any sales procedure. In this regard, the institution takes serious
strategies to enhance the mobility of its products within the context of marketing
2.2 Integrated marketing: a critical analysis
Santander UK plc has adopted an integrated approach in handling its marketing
portfolio. The inception of this marketing methodology is anchored on the need to achieve
optimum results regarding the mobility of the products of the institution. As outlined in its
growth plans, the institutions intends to exponentially doubly its profit margins and explore
avenues of evolving the business cycle so that the institution joins the next level of corporate
ladder (Michael, James and Daryl, 2000).
Integrating marketing methods, according to Hope, Albert, and Erick (2009), is meant
to enhance the success of the institution by avoiding the law of diminishing returns. This

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method seeks to alternate the existing methods so that the institution gains from these
marketing precepts optimally.
The global dynamics of commerce necessitates several commercial entities to adopt
rational strategies of dealing with such emerging issues (Rajan, 2009). The relevance of
integrated marketing techniques is evident in meeting these dynamic changes. There is
sufficient evidence in the global commercial morphology that alternating the precepts of
marketing is more likely to yield very tangible results for institutions (Fernandes, 2013).
Franses and Paap (2013) posit that before defining a systematic marketing procedure
to use in an institution, there is sufficient need for the stakeholders to do an extensive and
elaborate research of the target market. According to the author, a hollow marketing strategy
is one that ignores the psychological construct of the target market. Any marketing concept
aimed at achieving optimum returns on investment must be based on need analysis. Frank
(2005) furthers this argument by indicating that integrated marketing precepts are indeed very
essential in getting better returns on investments of most commercial entities. This infers that
compared to the stand alone marketing strategies, the integrated approach yields very
valuable results. Essentially, this is because the integrated marketing method takes into
account several other marketing techniques, which will ultimately enhance the sales index of
the entity (Franses and Paap, 2013).
Integrated marketing, according to Seppo and Mika (2012), takes many forms. This is
the reason why this method of marketing is considered a very powerful tool in business. The
fact that it addresses a wider spectrum of marketing issues gives it a leverage as compared to
other unitary marketing techniques. Robert (n.d) in his work Relationship Marketing and
the Consumer has elaborated on the need to have a broad based approach in addressing all the
activities of business. Most importantly, handling issues of marketing require very extensive
approach so that better results are realized. The essence of integrated market therefore, as

15

outlined by Shaoming and Tamer (2002), is to offer marketing solutions over a relatively
wider tangent of issues since it incorporates several marketing models.
The business model of Santander plc UK, necessitates it to adopt the integrated
model. The nature of the financial sector is indeed very volatile. Providently, the client base
or locus is quite varied. This means that a singular marketing model that may be implemented
by Santander UK plc may not be too fruitful. This therefore underscores the significance of
adopting the integrated model of marketing. It surely meets the competition threshold of the
institution and it does solve a wider array of marketing issues that Santander is currently
facing (John and Stanley, 1990).
According to Ejup and Alban (2013), marketing is one of the major departments in an
organization that is responsible for identifying customer needs and wants with the aim of
producing or modifying the products to respond to market demands (Rohit and Frederick,
1989). Often, the marketing department works closely with the management to meet market
needs, develop new markets, and in most cases, satisfy customer needs (Majumdar, 1996).
Marketing may be viewed as the bridge that connects the management and consumers with
the aim of generating profit for the company.
For marketing efforts to be successful, a marketing strategy must be developed, the
market segmented and products or services have to be targeted and positioned (Ridmig, n.d).
This implies that the market consists of various relatively homogenous groups and each
group has distinct desires and needs. Marketers who use strategy, targeting and positioning in
their marketing campaigns make deliberate effort to identify their market segments, and
direct their marketing activities towards segments that they believe their companies can
satisfy in better ways than their competitors. They position their products in those segments
in ways that they appeal to the target segments (Michael, 2011).

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Ejup and Alban (2013) argue that each company should develop a strategic plan and
set clear goals for it to grow in the market. These authors refer to the macroeconomic theory
that explains that the major reason why companies exist is to make profit. Generating profit,
lowering costs, and increasing productivity are closely and positively related when it comes
to growing businesses. Many companies focus on ensuring survival in the market. They do so
by increasing their market share as well as increasing their profit margins. Whatever the
objective of a company and its strategic plan are, each company should explore ways of
improving their products or services, conducting market research to measure and understand
the needs and preferences of their market and taking appropriate steps as needed. This
approach has the potential to secure bigger market share for a company.
In addition, companies need to develop appropriate marketing strategies for them to
become profitable. Marketing strategies help companies in identifying ways to achieve their
set goals in response to their stakeholders interests. Strategy is connected to effective
utilization of a companys growth potential and results of the company. Companies need to
bear in mind the threats and opportunities that characterize its external environment then use
those to improve their strategies by empowering their strengths and minimizing weaknesses
internally. According to Ansoff (1957), the product market matrix proposed growth strategies
that are ideal for companies. The matrix offers an important framework for analyzing and
considering the relationships between a companys strategic direction and its marketing
strategy. The 4-cell matrix features various options of market and product combinations
while each cell presents distinct threats, opportunities, risks and returns. Yoram and Thomas
(1983) say that new marketing directions are proposed with the aim of overcoming present
marketing theory limitations. An integrated strategic marketing planning approach should be
offered along with an application process for the pilot. Even so, a marketing strategy is
different from a business strategy in that the former focuses on a boundary role function

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while a business strategy focuses on the entire organization. Further, marketing strategies
need to be based on analysis of competitors, customers as well as other environmental
factors. The outcomes of this analysis are then combined with other strategic inputs in an
organization to develop a strategic business strategy. A sound and successful business
strategy must have a marketing perspective. When this happens, the marketing function is
able to provide inputs for strategy development.
Seppo and Milkah (2012) argue that marketing forms a core part of the innovation orientation
in the growth of small businesses. Market orientation defines a companys posture towards
generating an understanding of the companys customers and meeting their needs. It is has a
positive impact on the companys performance. This impact is largely appreciated though it
shows a reactive posture due to the fact that it focuses on the needs expressed by existing
customers. Ansoff (1957) unbundles this through the product market matrix with consists of
market penetration. This growth strategy has to do with selling existing products more to the
companys existing customers in an effort to raise the revenue on sales. The market matrix
also consists of market development, a growth strategy that focuses on increasing sales
revenue by introducing existing products to new market segments or new markets all
together. The product development strategy enables a company to sell new or advanced
products in existing market segments or existing markets. The market matrix also includes
diversification as a growth strategy that sees a company venture into new markets with
modified, new, or improved products.
According to Smart Company (2014), customer satisfaction refers to the relationship
of expectation to perceived performance. It is expected that high levels of satisfaction lead to
increased customer loyalty and helps reduce price elasticity. It also insulates the market share
from competitors, reduces failure costs, and lowers transaction costs as well as the cost of
attracting new clients. Customer satisfaction helps in improving a companys reputation as

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satisfied customers can lead to long-term viability of a business due to repeat purchases, word
of mouth referrals, and brand loyalty. Customer satisfaction has to do with the whole
purchase experience and not the post-use reflection only. It is therefore important to pay
attention to ensuring that all levels of a customers purchase experience resulting to positive
satisfaction. It may be expected that dissatisfaction at early stages can lead to negative
intentions of purchase.
Of importance to note is that dissatisfaction and satisfaction exist in varying degrees
and so highly satisfied customers display high levels of repeat purchases and tend to make
more purchase referrals than dissatisfied customers. Customers who are neutral are less likely
to offer strong referrals and their repeat purchases are also much lower. On both extremes,
highly dissatisfied and highly satisfied customers have a multiplier effect on the results. They
are more likely to talk about their impacts and experiences on most potential buyers, either
positively and negatively. Dissatisfaction and satisfaction may exist in the same buyer
experience. Business owners need to recognize that customer satisfaction is important for
continued business growth because satisfied may serve as a marketing tool in the same way
as other marketing strategies. It provides lining and helps in improving services and products
with the aim of getting potential customers to respond positively.
According to Chron (2014), getting feedback from both satisfied and dissatisfied
customers on their experiences is important. This helps a business develop its marketing
strategy because it shows the different types of marketing strategies that are working well as
well as the marketing areas that need improvement. Companies can use different avenues to
capture customer feedback including blog comments, emails, social networks, surveys and
forums. Customer feedback may also be captured in the form of unsolicited or solicited
testimonials or praise. This important marketing tool helps in attracting new customers,
building business reputation, and retaining existing customers. Shoppers tend to research

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different products or services actively before making buying decisions and testimonials that
are posted in the form of reviews online serve as referrals for new customers.
Managing customer satisfaction through marketing has to focus on addressing the gap that
exists between the perceived and expected service. The marketing strategy has to focus on
both the expectation and the perception during implementation. If a company hopes to
increase customer referrals and repeat sales through its marketing campaign, then customer
satisfaction for existing customers is critical. A company cannot expect customers to refer
others or to return unless it offers satisfactory customer experiences which they would be
willing to recommend or purchase again. Formulations of a successful marketing strategy
must therefore begin with a sound understanding of what makes a customer satisfied. (Smart
Company, 2011.)
2.3 Shifts in integrated marketing model
Malhotra (n.d) has explicated some of the processional avenues that IMC has to
undertake to be effective in any institution. The author highlights the main aspects of IMC as
cutting across both the traditional and the non-traditional channels of marketing and
employing different methods of promotion to strengthen each other. Essentially, the concept
of IMC means that businesses have a wide range of promotional methods to market their
goods and services. These promotional methods vary from the old traditional ones to the
currently existing promotional methodologies.
Several marketing experts have described IMC as a tool that cross cuts across
erstwhile models to the conventional models of marketing. In fact, according to Belch &
Belch (2001), the inception of disruptive technology as a model of carrying out product
promotion has evolved the concept of IMC a great deal. From traditional marketing methods
to the current digital era, the shifts in IMC reflect the growth of the technological aspect of
marketing. Marketing experts aver that indeed ignoring such emerging issues in the

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marketing arena is detrimental to any business. Such shifts in IMC, according to Brit (n.d),
reflect the evolution of the marketing industry. It is in a constant change and the adoption of
these newer modalities defines the true success rate of the marketing models adopted.
The evolution of the media industry has witnessed a dramatic move from the mass
media earlier known to the currently existing specialised media. This differentiation in the
communication sector has inadvertently influenced the growth of the marketing industry.
Essentially, as Chron (2014) has clearly outlined in his work, how Can Customer Satisfaction
Be Used As a Marketing Tool in an E-Business? The evolution of the disruptive technology is
adding a lot of influence in the marketing sector in equal measure. There is an inviolable link
between the technological advancements or rather the evolution of the disruptive technology,
and the marketing framework of any commercial institution. Santanders business model has
to adopt these digital marketing techniques. The specialised media, according to Murphy
(1987), has a very specific target population. it shifts its focus from a more general outlet to a
specific target that is capable of addressing a specific market segment. This, according to
Yoram and Thomas (1983) is an evolution from the aspect of traditional marketing models
to the current models.
Santander plc. UK therefore has a huge advantage if it adopts the integrated model of
marketing to manage the sale of its products. The cocktail of all these shifts is indeed a
productive ingredient in the management of any marketing model. Werner and Kumar (2000)
also talks about the move from the low accountability within the marketing domain to the
high accountability. Currently, the global marketing trends have gradually moved to the
high accountability concept where every aspect of marketing is documented for reference.
This use of scientific model is meant to foster success in equal measure as far as advertising
and marketing for that matter is concerned.
2.4 Marketing communications: the basic components

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The choice of IMC as the basic platform of marketing by Santander UK plc was
informed by four very critical reasons. One, the changing trends in the preferences of the
consumer necessitates a change in the manner that the marketing of the products is done.
Secondly, the emerging market locus of young people. This means that there was a need by
the company to target the emerging market segment to widen their client base. Of course,
several institutions have adopted strategies to get a fair share of their market of the emerging
block of the young. Three, there is need to ensure prudent use of resources during marketing.
One of the greatest scholars in the marketing sector, Werner and Kumar (2000) argues that
the whole concept of marketing retails on the premise that little resource is used to make a
huge impact regarding the sales. An efficient marketing model must take into account the
need to return their investments. Ultimately, the real success criterion of any marketing
model is enshrined in its ability to increase the volumes of sales. According to Valarie and
Leonard (1985), this increment margin must be entirely above the principal amount of
investment in the marketing models that have been used.
Components of IMC

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Conceptually, IMC has adopted newer components in the management of any marketing
portfolio. Essentially, this means that Santander plc UK is currently applying these newer
models of reaching its already existing clients or meeting a new stream of clientele
altogether. The implementation of these components of IMC, as earlier mentioned, must tally
with the market structure of the products of the company. This is a very strong point in
achieving the objectives of Santander plc UK in its marketing portfolio.
2.5 Marketing and customer satisfaction
The benchmark of evaluating any marketing activity is to evaluate the level of customer
satisfaction achieved. The inception of the integrated marketing model in Santander is
anchored upon the premise of ensuring that the clients are invariantly satisfied regarding its
products. The level of customer satisfaction is the hallmark of marketing; it defines the peak
of marketing or any promotional activity. As outlined by Stephen and Robert (2004)
customer satisfaction is the primary indicator of the relevance of the marketing models
espoused by the company.
The theoretical emphasis of understanding customer satisfaction is based on the
notion that any business activity should be geared towards meeting the exact demands of the
client. The customer, according to Ansoff (2011), is the judge regarding the products and
services of a specific company. It should therefore be the prerogative of the company to
develop a feedback process to establish the proper models of communication through which
they can evaluate the relevance of a specific product.
The adoption of an integrated market communication methodology is likely to
catapult Santander into higher growth prospects. The model gives relatively wider latitude for
communication with the clients regarding their products. Consequently, this will advance the
growth agenda of the bank. It is inherent that relevant marketing methods adopted by the

23

bank (in this case, an integrated marketing approach) will further the level of satisfaction and
thus increasing the marginal returns through heightened mobility of its products.
2.6 Summary of the literature Review
Relevant marketing techniques of any product leads to exponential growth of any
institution. this has been outlined in this review of scholastic publications. Santanders
growth prospects are deeply intertwined with the wit involved in drafting important
marketing techniques. Obviously, there is a logical inference to the understanding of the
market structure before the institutionalisation of any marketing strategy. The inception of an
integrated market strategy by the bank has led to greater satisfaction of the clients since it
offers a wider platform of addressing marketing needs in the company. This literature review
has offered an elaborate discourse regarding IMC. The emphasis on IMC in this work is
because it is the most prominent marketing strategy that the bank has adopted in dispensing
its marketing activities.This work has also tried to outline the nexus between satisfaction of
the customers and the concept of IMC.
There is sufficient reasoning to conclude that relevant marketing techniques (IMC in
this regard) are primary ingredients in business growth. This work has incessantly
underscored the significance of the institution of IMC strategies in the business. It is a very
significant tool to advance the growth of business. In addition, the IMC strategies are the
definitive factors that determine the level of customer satisfaction.
In conclusion, this evaluation of the publications regarding marketing and customer
satisfaction clearly makes form the assertion that marketing is the foundation of business
growth. This relationship is very direct to say the least. In the subsequent studies, this work
shall carry forward this proposition but through the analysis of Santander bank

24

CHAPTER THREE: RESEARCH DESIGN AND METHODOLOGY

3.1 Introduction
Research design and methodology explores the methodological application of
research methods and techniques to establish the objectives of the research. This section of
the research study will be a critical segment in addressing the overall techniques used to carry
out the research. This entails an insight into such aspects like the research design. In addition,
the population targeted and the sample of the study will be a subject of discussion.
Consequently, this segment will explore how the sample size was arrived at, together with the
techniques, assumptions and technicalities involved in the sampling techniques used to select
respondents. Finally, a discourse on the data collection techniques employed in this research
study will be explored in this segment. The aim will be to highlight these data collection
strategies and their relevance in understanding the research study.
The design of this research work and its templates will seek to resolve the research problem
through the following modalities:
a) Outlining and describing the research problem highlighted in the first chapter of this
report. This model offers a justification of the research methodologies that will be
used in this research process
b) Evaluation of the past scholarly works that are related to the topic under study and
noting the knowledge gaps that would warrant this study
c) Description of the modalities of gathering data for the sake of analysis
As will be discussed in the subsequent submissions in this work, this study adopts several
precepts of the Case Study Design. It offers a consummate study of the research problem but
limits the findings within a specified entity (In this case, Santander bank, UK). The research
study applies several research methodologies relevant to the work. It has relied on diverse
sources for proper investigation of the research problem. Further, the study has fortified the

25

previous knowledge regarding the same topic. According to Creswell (2012), there are six
fundamental components of research methods that guarantee an effective investigative study.
These have been widely expressed in the onion model of research methodology. They
entail the following aspects listed below: philosophy, approach, strategy, choices, time
horizon, and the data collection methods/analysis.
Onion model of research: Brief evaluation of the onion methodology

(http://writepass.com/journal/2014/04/sample-dissertation-methodology-survey-strategy/)
The onion research model stratifies the research process into several layers. Each of these
layers, according to Creswell (2012), progressively leads to the innermost or the nucleus
layer, which represents the epitome of data synthesis (analysis). According to Beckmann
(2012), the peeling of a single layer should lead to the realization of the subsequent layer. The
stratified layers in the onion model represents the following research aspects.
a.

Research philosophy

b.

Research approach

26

c.

Research strategy

d.

Research choice

e.

Time horizons

f.

Data collection and data analysis

3.2 Research philosophy

At the outermost layer of the research onion, lies the research philosophy. Based on
philosophical dispositions, it is common knowledge that three views describing how
knowledge develops. Individuals can rely on their experiences or memories to draft meaning
from issues that happen in the society. In this regard, this research proposal relies on the
investigative approach to derive meaning to issues in the society. This has been explored
through the principles outlined in the proceeding discussions
3.2 Research paradigm
The research paradigm is the template of the research study process. The research
paradigm entails those theoretical precepts through which the research process is anchored. In
this study, the research rubric is woven alongside the tenets of positivism and
interpretivism.
Positivism: the philosophical disposition of positivism is based upon the premise that
knowledge of any kind should be derived from logical inferences to information. This is
equally granted through mathematical evaluation of issues. This research study process will
entirely subscribe to this philosophical idea of positivism. The reasoning is that the data
obtained from the field through surveys and the interviews done, will be mathematically
coded into the SPSS platform and analysed scientifically. In addition, the logical inferences
derived from such undertaking will be based upon the reports of what Beckmann (2011)
terms as sensory experiences of the researcher. In addition, positivism leans towards the
quantitative approaches to understanding research issues. This research work wholesomely

27

embraces quantitative techniques (subset of positivism) to highlight the effects of the

integrated marketing techniques on the clients of Santander bank.
Interpretivism relies heavily on the subjective interpretation of issues. it ignores the
basic concept of objectivity as postulated by scientific principles. This research work will
borrow a few principles of this research paradigm. The qualitative approach, specifically, will
be borrowed from the interpretivism point of view regarding research. Nevertheless, the
whole research process will be based on the positivism approach as indicated by the
qualitative aspect of the same
3.3 Research strategy
The strategy of any research outlines the plan employable in the study process to
establish the responses to the research questions. The strategy seeks to outline the framework
of activities and or the directions that a researcher needs to implement to be able to conduct
the research in a successful manner. It entails the whole procedure of formulating the
research questions, advancing the research thought through the review of the scholarship
writings, carrying out the actual data collection, analysis, and finally giving the inferences of
the results achieved.
As earlier mentioned in this work, the research study will be inclined towards survey
platform. The researcher will invoke the principles of surveying as the prominent tactics in
establishing the objectives of the research work. A simple of respondents will be picked as
outlined in the proceeding discussion and subjected to a standardized questionnaire, which
will then be analyzed, and the conclusions drawn to establish the research objectives. The
nucleus of survey design is the administration of questionnaire to the respondents. This is
exactly the main fabrics of this research study.
On a more technical sense, the work can be described as a case study. This is because
the key principles under study will be done in reference to a specific institution. The

28

researcher has chosen to limit the research locus to the institution of Santander. While this
work is not entirely based on the template of a case study, the limitation of the discourse to
the institution of Santander makes it a quintessential case of research case studies. The
researcher will focus on outlining the market strategies used in commercial entities, but the
entity in focus in the Santander Plc UK. This limitation of the research concepts to this
specific institution is a corroboration of the fact that the research is a case study of the same.
3.4 Research Design and Methodology
This is an analytical investigation that will analyse the marketing strategy used by
Santander UK. The study will also look into the effects of the marketing strategy on business
growth and customer satisfaction in the short-run and long run. In reference to the works of
Creswell (2012), the design of any research process outlines the plan and configuration of the
investigative process that will ultimately be used to establish the research questions. Yin
(2008) furthers this argument by admitting that the design of the research plan helps the
researcher and the reader to understand the methodological application of the theoretical
aspects of research to seek for answers for the research questions. According to Beckman
(2011), research design of any research process represents the array of conditions that will be
applied for assemblage and scrutiny of the collected data in a model that seeks to merge
relevance to the research objectives with precincts of frugality.
In this study, the design will revolve largely around the descriptive survey design.
Descriptive research process uses survey techniques to explain the attributes of the sample
under study. In this case, though, since the study entails the discussion regarding a specific
entity (Santander), the descriptive research process can be assumed to be a case study. This
work will also employ various precepts of meta-analysis as a descriptive model of research.
Throughout this, an evaluation of the banking sector in the UK, in relation to Santander will
be outlined.

29

In concept, this study shall employ quantitative techniques to make a conclusive

summary of those concepts gathered from the field. Other than the quantitative approach, the
work will encompass various aspects of qualitative approach to explore the research
questions. The inference to this is that a mixture of both the qualitative and quantitative
research designs will be employed. It is however critical to make a caveat that the dominant
style applicable in the work will be the use of quantitative approaches. The inferential
segment of the report will be strictly qualitative.
3.5 Research approach
In this study, inductive research process will be paramount. The study will develop
from a more specific horizon to a broader generalization. Since the concern of the work is to
establish how the marketing construct of Santander will influence the growth of the bank and
the customer experience, there are sufficient reasons to believe that inductive modalities of
interpreting research results will be crucial throughout this research work. The discussion
topic of the work is to outline the marketing strategies that have been adopted by Santander,
and how these strategies work in the interest of the bank to advance growth and improve the
experience of the customer.
The inductive platform in this study will begin from the specific observation of the
marketing strategies that Santander has been deploying throughout its business strategies.
Consequently, this will move to broader generalizations of the topic on how these marketing
strategies impact on the business growth prospects and the customer experience. A critical
evaluation of this reasoning brings out the aspect of inductive approach in understanding the
research process employed in this work. Since the study did not develop an extensive
hypothesis to test, there is sufficient premise to conclude that the research work will employ
inductive research approach in trying to answer the research goals and eventually in trying to
meet the objectives of the research process.

30

(http://upload.wikimedia.org/wikibooks/en/thumb/7/75/Inductive_Deductive_Reasoning.svg/
1280px-Inductive_Deductive_Reasoning.svg.png)

Justification of the research approaches used in this research: summary

Approach

Suitability

Positivism: Positivism generates hypothesis This

research

project

develops

several

or a research question which is later tested questions of research that will be answered at
based on the research data synthesized.

the end of the analysis. However, there is no

outright hypothesis that has been developed
to be proven in this case and so the data
analyzed will simply be to explore the
research questions. positivism is not entirely
adopted in this study

31

Realism: In realism, scientific methods of This

work

seeks

to

underscore

the

research are largely ignored. Theoretical significance of marketing in Santander bank,

concepts of phenomena can be revised UK. Scientific methods of research including
according to realism

survey and data analysis have been used. this

essentially means that realism will not be
appropriate research approach in this work

Objectivism: As

research

approach, This work entails a significant level of

objectivism is cognizant of the existing social objectivism as a research concept. The

phenomena

and

their

inferences

are aspect of marketing in Santander bank

completely separate from the existing social entails a significant tenet of social research. It
actors

is

therefore

conclusive

to

assert

that

objectivism as a research approach has

played a pertinent role in the research study
Subjectivism: the precepts of subjectivism Marketing precepts and postulates are the
assert that any theory postulated by an focus of this research. However, this study is
individual in relation to social phenomena not entailed in the theorization of newer
should be the product of a majority or a philosophical ideas regarding marketing in
group of individuals in the society

Santander. in this respect, it can be firmly

stated that this research approach is not
applicable in this work

Interpretivism: It analyzes those specific

This study employs (wholesomely) the

meanings that individuals place on their

components of this research approach in

actions or other peoples actions.

exploring the answers to the research

question

32

3.6 Research purpose

The research purpose describes the rationale behind the study. It offers a consummate
evaluation of the reasoning behind the undertaking of the research work. This study has
combined several research purposes as a means to achieving the responses to the proposed
research questions. Exploring the avenues to the research objectives will means that the
researcher will use descriptive process. The descriptive research process attempts to explain,
while giving out additional information regarding a specific topic under study. The researcher
will outline, in detail, the aspects of marketing and the manner in which the marketing
strategies used by the institution will influence the growth tangent of the bank. It is however
notable that the descriptive statistical method will be restricted in the analysis phase.
Nonetheless, the researcher will predominantly employ the inferential strategy of research.
This will be because the results of the research analysis will be equally subjected to
discussion based on the inferences from the synthesised data.
Exploratory research will be the foundational purpose of this study. According to
Creswell (2012), exploratory research digs into unknown phenomena and carries out various
surveys to establish the phenomenon under study. In determining the market strategies of
Santander, this study is engaged in offering an insight into the integrated marketing
techniques that Santander has employed. The exploratory research precepts invoked in this
study engages the collection of relevant data regarding the marketing strategies by Santander
and the consequent impacts of these marketing strategies on both the growth of the institution
and the experience of the customers in the company. A critical evaluation of the research
purpose reveals that there is a mixture of several principles of research. Research studies are
not hard wired to limit their philosophical foundations to singular dispositions. In fact,
effect research processes are those ones that incorporate wider principles of research. This is

33

meant to enhance validity and instil the element of reliability in the process. This will be as
explored in the subsequent discussions.
This study has incorporated one of the most significant aspects of research study to
ensure that the research objectives are obtained. Analytical research purposes are critical in
analysing the results of the research study. This, according to Yin (2008) is the spine of any
research process. The analysis tends to link the conceptual framework to the practical
construct achieved from the field. In this work, the theoretical framework that assumes that
marketing has profound influence in the growth of an institution will be reinforced through
the analysis of the results that have been obtained from the results. As mentioned earlier, this
work has incorporated several other aspects of research that enhances the accuracy of the
research.
3.7 Target Population
The targeted population in any research study refers to the specific cosmos out of
which a sample representative will be picked for the survey. In this research study, the
population targeted will be the clients and the management of Santander bank. A total of 50
clients of the bank will be subjected for survey while another fifty of the bank staff
(management team) will equally be subjected for the same. The rationale is to establish the
responses to the research questions through the perspectives of the insiders and the outsiders
of the bank. Insiders in this reference are the staff members while the outsiders are the
clients of the bank. Essentially, a total of 100 respondents pooled from the population size
will be subjected for the survey. It is anticipated that this sample size will be critical to reach
a conclusive assumption regarding the role of marketing strategies in the prospects of
company growth.
3.8 Sample size and sampling procedure

34

The sample size for the survey will be 100. This has been elaborated in the preceding
discussion. The nature of the sampling process will be a mixture of several techniques.
Technically, the separation of the classes of respondents into staff and the non staff infers
that stratification has been undertaken. This means that a stratified sampling technique has
been implemented (though this is on very technical grounds)
The sampling method also incorporates a simple non-probability sampling method referred to
as the judgemental method. The sampling method will be used after placing a clear
stratification between the staff of the bank and the non-staff. Using this method to identify the
two clusters of respondents is simply based in instincts and intuition and no specific scientific
modality. The choice of the respondents in the sample size is assumed to be representative of
the population to be interviewed (both the staff and the clients of Santander pc UK)
3.6 Data Collection
Since this is a survey research, the collection of the relevant data from the identified
sample size will be done through structured questionnaires. The questionnaire developed will
be administered to the identified sample population developed earlier. The questionnaire
developed, as earlier mentioned, will be based on the qualitative aspect of research. The
development of the questionnaire will be based on the need to explore the responses that will
fit the research questions. These questionnaires will be administered to the two separate
groups and their responses captured. In cases where the respondents are unable to respond to
the queries in the questionnaires, the researcher will be prompted to request their contacts and
perform telephone interviews with selected respondents using the structured questionnaires
later on. This research will also employ the use of e-mail in seeking fro responses from the
respondents who are incapable of having interviews over the phone.
This research study takes into account the element of accuracy as a very important
aspect of research work, the respondents will therefore be well guided to give their responses
35

in the questionnaire accurately. The purpose is to ensure that the validity of the research
process is assured and the accuracy of the variable to be measured is assured. The singular
most important way of achieving this will be to explain to the respondents the instructions in
the questionnaire, and to follow it up with a discussion on the expectation of the researcher
from the responses that have been taken from the questionnaires.
The researcher will opt to employ the use of face-to-face meetings with the banks
customers. The banks clients, as earlier described, form the other half of the sample
population to be interviewed. The interviews will take into consideration the element of
gender sensitivity, a random sampling of both the sides of the gender divide shall be
employed in the identification of the respondents. The emphasis of the research process will
be to meet the respondents physically, one on one interaction are preferable for purposes of
getting reliable data and for better clarifications.
3.10 Accessibility Issues
Accessibility of the respondents in any research study is critical in ensuring the
validity of the research process is maintained. This research study is well aware of such
emerging issues in the study and seeks to arrange to ensure that the respondents targeted have
all their views incorporated in the study. Specifically, the staffs of Santander (senior
managers) are likely to be quite occupied. The researcher will make proper arrangements
through appointments with the managers to ensure that they are interviewed within the
scheduled time. In addition, the use of phone interviews or e-mail responses will be
encouraged in areas where the respondents physical accessibility is in doubt.
3.11 Ethical issues
There are various ethical issues relevant to this research topic. These include
truthfulness, maintaining respondent anonymity. The researcher will handle these ethical
issues with utmost discretion. The researcher will strive to get truthful data from respondents

36

through seeking clarification of information provided. The researcher will also maintain
anonymity of respondents to avoid defamation. The researcher, in a bid to fulfil the ethical
provisions that guide all research processes, will seek for the permission of the respondents
before documenting their opinions. In the same capacity, the views of the respondents that
will be captured in the research study will remain solely for academic use. The identity of the
respondents, in line with the ethical guidelines of handling research studies, will remain
anonymous. Most significantly though, will be the need to explain to the respondents the
instructions that offer guidelines to the research process. Proper ethical considerations dictate
that the respondents in any given research study are taken through the instructions so that
they are aware of their roles during the interview sessions
3.12 Data analysis plan
Processing the raw data from the survey study (as obtained from the field) will employ the
use of SPSS statistical package. The raw data fetched from the respondents will be sorted and
entered into the SPSS platform. Several statistical treatments will be performed on the data as
a sign of enhancing the internal validity of the research process. The data collected will then
be subjected to a statistical analysis on the SPSS platform used. Inferences will then be made
within the context of the research questions earlier formulated. The type of analysis done will
also be dependent on the objectives of the research study. The analysis of the data will be
followed up by output of the synthesised work. The output shall be dependent on the type of
the analysis carried out. Graphs, tables, and charts will all be used to describe the output data.
In addition, the work will be followed with extensive discussion of the analyzed data. This
will be critical in explaining the results of the analysed data in relation to the research
questions that had been earlier formulated.
3.13 Research limitations
The following are limitations of the study:

37

Some respondents may not be willing to respond to all the questions in the data
collection tool and this could affect the outcome of the study

Some respondents may not have sufficient time to respond to all queries and this may
compromise on the quality of the study

Due to the distances and time constraints, the researcher will use phone interviews
and emails to collect field data. Some respondents who may not have time to respond
to research questions in time and are not available on phone as well will be sent
copies of the data collection tool to fill and email back. Some respondents may opt not
to complete the tool and this can affect the quality of the study

This study will focus more the changing marketing strategy and the effects the
changes have on the Santander UKs customer satisfaction and growth. This limits the
outcome of the study to this bank only and these outcomes may not necessarily reflect
the state of other banks in the UK.

strained resources: lack of adequate resources to fund the whole study will greatly
affect the whole process including the data collection phase which is considered the
most demanding in terms of resources

time constraints is like to have impact on the validity and the accuracy of the research
process

the research team also anticipates cases of language barrier especially for those clients
who may be unable to speak the native English language

3.14 Data Collection instruments

The research work will incorporate primary data sources like the survey platform and
the interviews together with the secondary sources. Questionnaires will be quite effective in
the primary collection of data. Consequently, books, journals, websites, and other

38

publications will form the secondary data sources, as used in the literature review section, the
secondary data sources will amplify the theoretical concept of this research study
3.15 Validity of the instrument
Validity of any research process determines whether the research study indeed rivets its focus
on the intended variables to be measured. This research study is well aware of the
significance of validity as a concept of research. The sample population and the data
received from the field will be treated with utmost care to eliminate any assumption that may
interfere with the validity of the research process.
3.16 Timetable
The following study timetable will guide the research process:
No.

Activity

Timeframe

Development of data collection tools

Week 1

2.

Testing and improvement of Data Collection Tools

3.

Scheduling data collection appointments

Week II

4.

Conducting actual data collection activities

Week III and IV

5.

Data Analysis

Week V and VI

6.

Report Writing

Week VII and VIII

39

CHAPTER FOUR: DATA ANALYSIS

4.1 Introduction
In this chapter, the researcher reports the results of the data collected from the field. The
focus of this segment exclusively deals with the processed data through the SPSS statistical
package used in the analysis process. The segment employs the data analysis methods
described in chapter three to establish the connection that exists between the data collected in
the field and the theoretical concept of the work. There is a need to know and understand that
the questionnaire was segmented into two with a section reserved for the staff and another
section for the general clients of the bank. In the analysis of the results, this has been taken
care of well
4.2 Return rate of the questionnaires
The research study registered an impressive record of the respondents who returned the filled
questionnaires. In all the categories of the interview, the return rate was noted to be 100%.

40

All the questionnaires that were used during the data collection process were returned and the
data collected analyzed according to the proposed research methodology
4.3: Demographic information of the respondents
Understanding the demographic information of the respondents is fundamental in establishing
the manner in which these demographic issues affected the result findings. The demographic
information of the respondents that will be investigated in this work entail the age of the
respondents and their marital status among other highlighted demographic information.
4.3.1. Identity of the respondents
Disclosing the identity of the respondent in terms of the designation was an integral of the
research process. The work segmented the designation into two very broad categories of the
staff and the bank employees. This was to enable the researcher get a clear picture of the
existing market strategy from two sides of the respondents. The total numbers of these
respondents were divided into half assigning fifty respondents per each segment of the
respondents
Table 1: Identity of the respondent

Frequency

Percent

Valid Percent

Cumulative
Percent

Valid

Staff

50

50.0

50.0

50.0

Client

50

50.0

50.0

100.0

Total

100

100.0

100.0

As mentioned earlier in the methodology, the sampling of the respondents was done to
engage both the staff and the clients of the bank. The total number of respondents interviewed
was 100 with the percentage composition of those interviewed split right in the middle. 50%
41

of the respondents interviewed are the staff members of Santander bank. Incidentally, 50% of
those who were interviewed represented the clients of the bank. This has been highlighted in
the pie chart below
Figure 1

4.3.2: The age of the respondents interviewed

Age, as a democratic factor, is an essential factor in the research process. the knowledge of
age in this research process was significant in establishing the aspect of generations and
marketing concepts of the bank. The aspect of age would enable this research to deduce
whether the marketing strategies that have been incorporated into the operational strategies
of the bank resonate well with the market segments. the percentage composition of the
respondents in light of their ages were as listed in the table below:
Table 2: Age of the respondents

42

Frequency

Percent

Valid Percent

Cumulative
Percent

Under 20 years

13

13.0

13.0

13.0

21-30 years

35

35.0

35.0

48.0

31-40 years

40

40.0

40.0

88.0

41-50 years

11

11.0

11.0

99.0

1.0

1.0

100.0

100

100.0

100.0

Valid

Above 50 years
Total

13% of those who were interviewed were below 20 years of age. This is slightly lower than
the 40% of the respondents who represented the age bracket of between 31 years to 4o years
of age. Consequently, 35% of those who were interviewed fell between 21 years and 30
years. Meanwhile, a minority of the respondents, represented by 1% of the total value , fell
above the age of 50 years. Essentially, this infers that the median age set of those who were
interviewed was between 31-40 years of age. The chart below sums up the percentage
composition of the respondents in terms of their age.

Figure 2

43

4.3.2 Gender of the respondents

The identity of the gender of the respondents is quite critical in any research process. as a
demographic factor, the gender is a pointer of various aspects of the research. in this
research, it has since been established that more women were interviewed more than their
male counterparts
Table 3: Gender of the respondent

Frequency

Percent

Valid Percent

Cumulative
Percent

Male

42

42.0

42.0

42.0

Female

58

58.0

58.0

100.0

Valid

44

Total

100

100.0

100.0

From the results, the variation in gender reveals that more female respondents were
interviewed in comparison to their male counterparts. The female respondents accounted for
58% of the total respondents while the male respondents accounted for 42 % of the total
number of the respondents. Essentially, this infers that majority of the respondents
interviewed were females. To be more specific, majority of the staff members who were
interviewed represented the females. This therefore means that the drivers of the huge
percentage of females interviewed were derived from the females in the
Figure 3:

4.3.3 Marital status

This establishment was meant to anchor the demographic factor of age. the respondents were
asked to highlight their marital status as a means of affirming further their age.
Table 4: Marital status of the respondent

45

Frequency

Percent

Valid Percent

Cumulative
Percent

8.0

8.0

8.0

Married

85

85.0

85.0

93.0

Divorced

5.0

5.0

98.0

Separated

2.0

2.0

100.0

100

100.0

100.0

Single

Valid

Total

85% of the clients who were interviewed were married. This is in contrast to the 8% of the
respondents who are single. This means that many of the respondents who were present for
the interview were engaged in a union of marriage. Incidentally, 5% of the respondents
represented those who are divorced while those who are separated from their spouses
represented the minority group with a percentage value of 2%.
4.4: Marketing plan of the bank
This segment sought to ask the respondents (in this case, the staff members of Santander
bank) whether they are aware of an established plan of marketing. The goal of this question
was to affirm if the company had formulated a plan for marketing their products to their
clients. The staff members were asked to confirm if Santander had any systematic approach
to the market or whether it approaches the market without any strategy ingrained within its
corporate governance framework.
Table 5: Does Santander have a marketing plan?

Frequency

Percent

Valid Percent

Cumulative
Percent

46

Valid

Yes

92

92.0

92.0

92.0

No

8.0

8.0

100.0

100

100.0

100.0

Total

The focus of this research study was to establish whether Santander bank has any
institutional marketing plan. From the assertion of the respondents, there is an overwhelming
admission (from both the clients and the staff) that Santander indeed has an elaborate
marketing strategy that has been in operation. From the results, 92% of the respondents
unequivocally made the admission of the existing marketing plan of the bank. In contrast,
only 2% of the respondents are of the opinion that the bank does not really have any elaborate
marketing plan to advance its activities.
It therefore follows that the company has a formidable marketing plan that drives its
business agenda. From the admission of the staff members, this marketing plan seems to be
the pole driver of the marketing activities of the institution. As described earlier in this
discourse, the institution has adopted an integrated approach to market its products. this
entails an elaborate understanding of the singular marketing approaches and coming up with
a hybrid system that cuts across all the other modes of marketing. The staff admit that the
formulation of this marketing strategy is a as a result of strategic evolution of the market
segment of the bank and establishing the dynamics of the market portfolio. Since the
inception of the strategy, there has been a progressive increase in the mobility of the products
of Santander and a gradually increasing or widening clientele base.

47

4.5: Type of the marketing strategy

This segment of this research study indicated the type of the marketing strategy that the
company has adopted to further the objectives of the marketing portfolio of the bank. the
respondents who were interviewed, the staff members in this case, were meant to indicate the
exact strategy that Santander has adopted over time. This segment was meant to point out in
very clear terms how exactly Santander has rolled out its program of marketing its products.
The response however, revealed that the institution has adopted the integrated marketing
strategy as the basic marketing strategy to advance the business cycle
Table 6: Type of marketing strategy adopted by Santander

Frequency

Percent

Valid Percent

Cumulative
Percent

Valid

50

50.0

50.0

50.0

Marketing mix

3.0

3.0

53.0

Product positioning

4.0

4.0

57.0

43

43.0

43.0

100.0

100

100.0

100.0

Integrated marketing
Total

43% of the staff members whose responses were captured in this research project
were of the opinion that the marketing strategy adopted by Santander leans towards the
integrated marketing tenets. The staffs believe that the strategy adopted by the bank
incorporates several other aspects of marketing thus forming the integrated marketing
strategy. Coincidentally, 3% of the staff members who were interviewed asserted that the
principles of marketing that have been adopted by the institution is biased towards the
principles of marketing mix strategy. 4% of the staff whose respondents were incorporated in
48

this research, argued that the marketing strategy adopted by the institution was based upon
the precepts of product positioning. The response to this question was based on the evaluation
of the techniques and modalities employed by the institution regarding its approaches to the
market.
Integrated marketing methods adopted by Santander unify several methods of the
process to achieve its objectives. The staffs of the bank, after having accessed the modalities
of marketing employed by the company, has since concluded that it embraces an integrated
marketing concept. Integrated marketing techniques in this regard are geared toward
attracting a wide range of clients. It incorporates a wider variety of marketing aspects to
ensure that the objectives of the marketing domain have been realized. From the results of the
analysis above, it is conclusive that the growth of Santander bank is attributable to the
adoption of the integrated marketing concept that the staff have pointed out.
The graph below outlines the graphical presentation of the marketing strategies implemented
by the institution
4.6: Duration of adoption of the strategy
Does the aspect of time really matter in the dispensation of any marketing strategy? this was
the key question in this segment of this research study. The segment sought to ask the
interviewees the duration through which the implementation of the marketing strategy in place
would take. It was an affirmation of exactly what role time has in the inception of these
marketing strategies. The responses were as outlined in the table below
Table 7: Duration of adoption of the marketing strategy currently in use
Frequency

Percent

Valid Percent

Cumulative
Percent

Valid

49

More than 5 years ago

100

100.0

50.0

Total

100

100.0

100.0

100.0

With a cumulative number of the interviewed respondents at 50, there is sufficient evidence
from the results that majority admit that the implementation of the marketing strategies were
done more than five years ago. All the respondents interviewed (the staff of Santander bank
to be specific) assert that these strategies are more than five years older. It is important to
highlight here that this segment was specifically filled by the staff members of the bank.
The inference to this admission is that any strategic plan in marketing has to take time
to mature. While the profits of the bank have been on a steady rise, it is expected that the
rise will exponentially grow after a longer period. This means that strategies of marketing any
commercial setting take slightly longer time to come to fruition. There is a lot of accuracy in
the conclusion that majority of the marketing strategies that have been adopted by corporate
entities have to be harmonised with the existing market rubric so that good results can be
witnessed. the admission by the respondents (to be specific, the staff of the bank) that the
strategy of marketing rolled out in Santander was done more than five years ago affirms this
belief strategic reforms and plans have to take time to be fully incorporated into the existing
construct. This is then followed by a period of increased growth as the template adopts to the
provisions of the market that exists currently.
4.7: Contribution of the staff to the marketing strategy
This segment of the research question was to fortify the suspicion that the staffs are the
driver of any marketing strategy. Santander affirmed through the responses that the staffs
have a great contribution to the existing marketing strategy. The question helped the
researcher establish the significance of staff members in initiating and advancing the
marketing strategies of marketing for Santander bank
50

Table 8: Staff contribution to the marketing strategy

Frequency

Percent

Valid Percent

Cumulative
Percent

Valid

Yes

100

100.0

100.0

Total

100

100.0

100.0

100.0

All the staff members subjected to an interview was part of the marketing revolution done by
Santander. From the results above, it is conclusive that all the staff members were part of the
currently existing marketing strategy. 100% of the staff members, respondent to the
affirmative that indeed, they have been engaged in the formulation of the currently existing
marketing strategy
Essentially, the staffs of Santander bank admit that owning the strategy of any
marketing is a stepping-stone to achieving the growth prospects of the institution. With a
massive affirmative response to their involvement in the marketing strategy , the bank staff
pass a crucial information that the success factor of any growth initiative depend upon the
need to unite together in purpose.

51

4.8 Marketing strategy and profitability

Judging by the results of the analysis, it is evident that marketing plays a very pertinent role
in the profitability of any business. Santander is no exception to this assertion. Out of all
the 50 staff members who were respondent to the administration of this questionnaire, a
cumulative frequency of 50, meaning the whole number opined that the marketing strategy
adopted by Santander has played a critical role in the heightening of the profitability of the
company
Table 9: marketing strategy
Frequency

Percent

Valid Percent

Cumulative
Percent

Valid

Yes

100

100.0

100.0

Total

100

100.0

100.0

100.0

From the responses above, the staffs has confirmed that indeed the market domain of any
company plays an integral role in the enhancement of the profits of the same. There is an
inviolable relationship between the concept of marketing and corporate governance, to the
growth of an institution. With a 100%, affirmation that marketing is a factor of profitability,
then it is understandable of the continued growth index of the bank in the last few financial
years. Marketing has led to an increased awareness of the products of an institution. In this
respect, Santanders product portfolio is well received in the market courtesy of the
groundwork done by the marketing department. It is therefore logically conclusive for the
staff members of the company to admit in this research that the inception of marketing
strategies in any institution is a factor of success for the institution if handled well. this

52

success may be either direct or indirect but essentially, it contributes heavily to the growth of
the entity in many aspects.
4.9 Does Santander have a well-defined marketing strategy?
A well-defined marketing strategy meets the threshold of the market demands. it understands
the market structure of the commodity. The purpose of this question was to establish whether
the strategy of Santander regarding the marketing of its products was a well-structured one.
From the results, 91% of those who were interviewed asserted that the company has a welldefined strategy to meet its departmental targets. In contrast, 9% of the respondents admit
that there is no proper marketing strategy that the bank has adopted.
Table 10: Does Santander have a well defined marketing strategy
Frequency

Percent

Valid Percent

Cumulative
Percent

Valid

Yes

91

91.0

91.0

91.0

No

9.0

9.0

100.0

100

100.0

100.0

Total

4.10: How efficient are the existing marketing strategies?

Existing marketing strategies in any institution must be relevant in addressing the marketing
objectives of the same. in this segment, the question sought to establish the efficiency of the
existing marketing strategy of the bank. The table below reflects the summary of the results
of the responses that were received from those who were subjected to the interview
Table 11: Efficacy of the marketing strategies

53

Frequency

Percent

Valid Percent

Cumulative
Percent

Excellent

76

76.0

76.0

76.0

Average

18

18.0

18.0

94.0

Poor

6.0

6.0

100.0

Total

100

100.0

100.0

Valid

Majority of the respondents affirmed that the marketing strategies that have been incepted by
the bank are indeed very effective. This is comparable to the 18% who responded that these
strategies are average in their efficiency. Meanwhile, the minority of the respondents assert
that they do not find these strategies very efficient. The minority stand at 6% of the total
number of the respondents
4.12: Generational expectations and the strategy
As earlier mentioned, efficiency of any marketing portfolio is reliant on the need to reach a
wider number of individuals. Santander being a financial institution must be capable of
attracting clients across all the generational divides. this portion was an explication of the role
of the existing marketing strategy in reaching out to a larger number of individuals. The
responses from those who were interviewed reflected that indeed Santander has been very
effective in drafting marketing concepts that cut across a wider base of generational divide
Table 12: Does the strategy meet generational expectation?
Frequency

Percent

Valid Percent

Cumulative
Percent

Valid

Yes

75

75.0

54

75.0

75.0

No
Total

25

25.0

25.0

100

100.0

100.0

100.0

This response was meant to gauge whether the marketing strategy incepted by the bank in
marketing cuts across the generation divides. 75% of those interview said it met the
generational expectation. This essentially means that the strategy of the market is effective. a
marketing strategy that meets generational divide appeals to a wider spectrum of the market
therefore netting quite a number of the market segment desired. Meanwhile, 25% of those
who were interviewed doubted the efficiency of the strategies of marketing adopted by the
bank in meeting the expectation of various generations. This is illustrated further in the chart

55

below

4.13: How the marketing strategy of Santander meets the needs of the customer
It is the desire of any pragmatic marketing concept to meet the needs of the client and fulfil it.
This is the focus of Santander bank in its marketing strategy. This portion was to establish
56

how exactly the strategies that have been adopted by the bank have been instrumental in
advancing the needs of the clients. The results of the respondents were as outlined in the table
below
Table 13: Marketing strategy and customer needs

Frequency

Percent

Valid Percent

Cumulative
Percent

Valid

Yes

59

59.0

59.0

59.0

No

41

41.0

41.0

100.0

100

100.0

100.0

Total

The respondents were asked to confirm whether the marketing strategies adopted by the
company addressed the needs of the clients. Out of the 100 respondents, 59 said that these
strategies adopted by Santander addressed the needs of the client. In contrast, 41 rejected the
notion that these strategies had the needs of the clients in mind. The pie chart below shows
the tabulated results described above

57

4.14: Marketing strategy and the resolution of complains of the clients

Conventionally, it is known that any effective strategy of marketing products must be
anchored on a firm need to have an effective communication platform between customers
and the businesses. Santander has exploited this opportunity in the marketing strategy of
marketing that it has adopted. This question meant to evaluate the role of marketing in
enhancing the satisfaction of the client. Specifically, it outlines how these marketing
strategies can lead to quicker resolutions of the customer complains
The interview revealed that 4% of the respondents strongly disagreed with the fact that
the marketing strategy of Santander was efficient in solving the disputes that arose
between the clients and the bank. Incidentally, 3% of the respondents interviewed
disagreed with the sentiments that the marketing strategy adopted by the institution is
capable of finding a faster resolution of issues that may emanate between the bank and the
clients. 12% remained neutral in their responses. Meanwhile, the majority of the
interviewees either strongly agreed to the statement (44%) of agreed to the assertion
that the marketing strategy adopted by Santander has seen the resolution of the disputes
with the customers be done amicably

58

Frequency

Percent

Valid Percent

Cumulative
Percent

Strongly disagree

1.0

1.0

1.0

Disagree

4.0

4.0

5.0

Neutral

7.0

7.0

12.0

Agree

30

30.0

30.0

42.0

Strongly agree

58

58.0

58.0

100.0

100

100.0

100.0

Valid

Total

In outlining the relevance of the marketing strategies adopted by the bank to the satisfaction
of the customers, the questionnaire, through this question, sought to establish whether the
marketing strategy employed by the bank allowed for the clients to launch complains
regarding the products of the company. In the response, 1% of the respondents strongly
disagreed with that admission. Meanwhile, 4% of the respondents disagreed with that
question. They did not agree to the fact that these marketing strategies are capable of giving
the clients a chance to launch complains regarding the products of the bank. While 7%
remained non-committal to the question, 30% of the respondents agreed that these
marketing strategies gave a framework through which the customers are capable of giving
their opinions regarding a specific product. The majority of the respondents, 58% affirmed
the fact that the marketing strategies given by the company can provide an avenue to
correspond to the management through complains and suggestions. This has been further
illustrated in the chart below

59

4.15: Marketing and communication

Table 14: Marketing strategy gives the customers an opportunity to communicate

back
Frequency

Percent

Valid Percent

Cumulative
Percent

Strongly disagree

2.0

2.0

2.0

Disagree

8.0

8.0

10.0

Valid

60

Neutral

10

10.0

10.0

20.0

Agree

54

54.0

54.0

74.0

Strongly agree

24

24.0

24.0

98.0

2.0

2.0

100.0

100

100.0

100.0

Total

Finding a relevant platform to correspond with the clients is indeed very important in any
business. This question was meant to interrogate the marketing strategies of the bank
concerning the ability of these strategies to enable the bank and the customers correspond on
a number of issues. 2% of those interviewed strongly disagreed on the ability of these
marketing strategies to provide a platform of correspondence between the bank and the
clients/8% disagree on the same while 10% remained rather neutral. 54% of the respondents
however agree that the marketing strategy is efficient in giving the platform for the clients
and the bank to engage. 24% on the other hand strongly agree on the fact that these
strategies are significant in enabling the clients and the banks correspond
4.16: Increased customer base
While exploring the significance of marketing strategies on the growth of the institution, this
work sought to highlight whether there is sufficient belief to affirm that marketing leads to an
increased customer base. The responses from those who were interviewed were as described
below
Table 16: Marketing has led to wider customer base

Frequency

Percent

Valid Percent

Cumulative
Percent

61

Strongly disagreed

5.0

5.0

5.0

Disagreed

2.0

2.0

7.0

Neutral

11

11.0

11.0

18.0

Agreed

39

39.0

39.0

57.0

Strongly agreed

43

43.0

43.0

100.0

100

100.0

100.0

Valid

Total

43% of those who were interviewed opined that they strongly agreed that the marketing
concepts of Santander have led to increased customer base. 39% of the interviewed agreed
to the same while 11% of those who were interviewed remained neutral in admitting that the
marketing concept of Santander have increased the number of the customers. meanwhile, 2%
of the total respondents interviewed disagreed with that assertion even as 5% strongly
disagreed with the same. This has been tabulated in the table above
4.17 Marketing and building partnerships
One of the most significant roles of any marketing concept is to help in the establishment of
strategic partnerships. This question asked the interviewees whether they thought that they
marketing concept of Santander was indeed efficient in establishing the relevant partnerships
that would open up important business opportunities for the bank.
Table 16: Strategy aids in building partnerships
Frequency

Percent

Valid Percent

Cumulative
Percent

Valid

Strongly disagree

4.0

62

4.0

4.0

8.0

8.0

12.0

Agree

23

23.0

23.0

35.0

Strongly agree

65

65.0

65.0

100.0

100

100.0

100.0

Disagree

Total

The interviewees were unanimous in their acclamation of the fact that the marketing
strategies that have been adopted by Santander have been effective in building important
partnerships. In their responses, 4% of the interviewees strongly disagreed with the
assertion that the marketing strategy of the bank have helped create important partnerships.
8% of those who were interviewed disagreed with this assertion even as 23% contradicted
them by agreeing to this admission. A majority of the respondents, at 65% however affirmed
this assertion at 65%. Essentially, this meant that Santander has greatly benefited from
strategic partnerships that have emanated from the marketing strategies that it has adopted.
4.18: Evaluation of the marketing strategies of Santander
In this question, the respondents were expected to underscore the significance of having
intermittent evaluation of the existing marketing strategies in the company. Santander has a
program where the review of the existing marketing strategies is done. This is meant to
enhance efficiency within the institution and to realign the marketing strategies of the
institution to the incessantly shifting demands of the market segment
Table 17: Is it necessary for the bank to evaluate its marketing strategy

Frequency

Percent

Valid Percent

Cumulative
Percent

Valid

Yes

98

98.0

63

98.0

98.0

No
Total

2.0

2.0

100

100.0

100.0

100.0

From the results, majority of those who were interviewed admitted that the company,
Santander, often evaluates their marketing strategies with a view of adjusting them to any
changes. At 98%, the respondents overwhelmingly affirmed the role of evaluation of the
existing marketing strategies. Meanwhile, 2% of those who were interviewed in the research
denied the necessity of the bank in evaluating these marketing strategies.
4.19: How marketing enhances customer satisfaction at Santander

If marketing indeed influences the satisfaction of the customers in Santander, then how
exactly do these strategies enhance the satisfaction of the customers? This part of the research
was meant to outline these issues. The bank has since established that there is a very practical
manner in which the marketing strategies it has adopted influence the satisfaction of its
customers. The Likert scale below helped in understanding the responses of the clients

Table 18: Extent to which marketing strategy enhances customer satisfaction

Frequency

Percent

Valid Percent

Cumulative
Percent

Valid

A very low extent

64

4.0

4.0

4.0

To a low extent

3.0

3.0

7.0

Moderate extent

9.0

9.0

16.0

To a great extent

40

40.0

40.0

56.0

To a very great extent

44

44.0

44.0

100.0

100

100.0

100.0

Total

Summarily, this question sought to establish the extent to which the marketing strategy of the
bank has influenced the satisfaction of the customers of the bank. 4% agree that these
strategies are capable of enhancing customer satisfaction to a very low extent. 40% of those
who were interviewed claimed that these strategies are very efficient in enhancing customer
satisfaction. 44% admit that it is to a greater extent that the marketing strategies influence
customer satisfaction

Table 19: Marketing has led to increased product mobility

65

Frequency

Percent

Valid Percent

Cumulative
Percent

3.0

3.0

3.0

Neutral

16

16.0

16.0

19.0

Agree

40

40.0

40.0

59.0

1.0

1.0

60.0

40

40.0

40.0

100.0

100

100.0

100.0

Strongly disagree

Valid

Strongly agree
Total

Asked whether the marketing concepts of Santander have been critical in the enhancement of
product mobility hence the growth of the company, 40% strongly agreed that these strategies
have enabled the bank to advance its sales. 40% equally agree to the same while 16%
remained neutral. In addition, 3% strongly disagreed with the question seeking to establish
the role of these marketing strategies on the mobility of the products of the bank. This has
been further illustrated below

66

4.20: Marketing and institutional growth

The peak of any marketing concept is the need to take part in the growth of the institution
at whatever capacity. Santanders marketing strategy has ensured a steady growth of the
profits and even the clientele base. This segment asked the respondents on whether they
harbour the thoughts that these strategies play an important part in the growth of the
institution. the results were as depicted in the diagram below
Table 21: Extent to which marketing strategies have led to the growth of Santander
bank

Frequency

Percent

Valid Percent

Cumulative
Percent

A very low extent

2.0

2.0

2.0

to a low extent

2.0

2.0

4.0

Valid

67

To a moderate
16

16.0

16.0

20.0

46

46.0

46.0

66.0

34

34.0

34.0

100.0

100

100.0

100.0

extent
to a great extent
To a very great
extent
Total

There is a logical progression to the assertion that marketing strategies of the bank have
enhanced growth in the bank. In this research, 2% of the interviewees questioned admitted
that to a lower extent, the marketing strategies of Santander have enhanced growth in the
bank. 16% of those interviewed moderately agree that these strategies push the growth of
the bank exponentially. 34% of those interviewed admitted to a very great extent that the
marketing strategies introduced by Santander have serious impacts in pushing the growth of
the company. The majority of the respondents, at 46% agreed to a great extent that these
strategies have had a profound effect in the growth and development of the bank.

CHAPTER FIVE: CONCLUSION AND RECOMMENDATION

5.1 Demography of the respondents
Identity: As outlined earlier in this work, the data analysis plan of this research identified
two classes of the respondents. One was the staff and the other, the clients of Santander. The
secret was to give a balance assessment of the topic under study from the insiders and
outsiders points of view. The sample size was halved into two with fifty respondents being
members of the bank staff while the rest represented the clients of the bank.
68

Age: While the age of the respondents really had no bearing on the work, it is sufficient to
not that the majority of the respondents were the middle-aged individuals. This demonstrates
that majority of the staff members of the bank for instance, were in the bracket of those who
are middle aged. A significant percentage of the interviewees belonged to the age group that
is lower than 20 years of age
Marketing plan: the institution has a strategic marketing plan. this segment of the research
exposed the assertion that the bank has an effective plan of marketing to implement. The plan
is incorporated within its corporate strategy and development plan. The establishment of a
marketing plan by Santander points out to one integral strategy by commercial entities.
Regardless of the industry or sector of operations, there is an urgent need to formulate a
marketing strategy that supports all the departments of the operations of the entity.
Type of the marketing strategy: it is not sufficient for corporate entities to have marketing
strategies; rather, it is important for the management to interrogate themselves on the
significance of these marketing strategies. It has been discussed in this work that any
effective marketing strategy must take into account the morphology of the market. Inception
of these strategies must be based on a firm evaluation of the market construct to institute a
proper strategy that is relevant for the business entity.

Santander has adopted an integrated marketing concept to face the market and give it
a leverage over other competitors in the market. The IM system combines several marketing
strategies to achieve its growth objectives. The institution is cognisant of the varied nature of
the demands of the market of its products. This has necessitated the adoption of a strategy
that encompasses a wider range of strategies to achieve the same objectives. For a
commercial entity, this is a widely acceptable premise. There is sufficient logic in the
decision by Santander to adopt a marketing strategy that cross cuts a wider tangent of

69

marketing options. In conclusion, a highly competitive venture requires a very strategic

marketing concept that will deliver sure results. The significance of the IM concept within
any commercial setting cannot be overemphasised.
Duration of adoption of marketing strategies: from this research study, there is sufficient
illustration of the need to adopt strategic marketing options within a longer duration. A
marketing strategy takes time to begging bearing the desired results. it is sufficient to
introduce these strategies over a longer duration. Most significantly though, is the assertion
that these strategies must take time before the optimal results are achieved. it is conclusive to
admit that that time plays a very critical role in the foundational strategies undertaken by
institutions during formulation of marketing strategies. As witnessed in the results of the data
analysed, there is also sufficient room to believe that the staff of any organisation perform a
critical role in the navigation of any marketing precept formulated by the company.
This study disclosed that the 50 members of staff in Santander were directly involved
in the implementation of the marketing strategy by the company. The logical conclusion to
this result can only be one- the staff pay a very pertinent role as the drivers of the marketing
agenda of any institution. Involving the staff in the implementation process is crucial in the
advancement of the goals of the institution regarding marketing.
Profitability as a result of marketing strategy: The goal of any marketing strategy is to
enhance the profitability of any commercial joint. This essentially means that the desire of
Santander while initiating the integrated marketing precepts is to widen its chances of
increasing the profitability of the company. From the results of the analysis, the respondents
have conclusively admitted that the element of profitability overrides all other aspirations of
any corporate entity.
The respondents in this research have admitted that the element of marketing is
indeed very significant in determining the profitability of any commercial domain. Marketing

70

strategies expose the products of a company to a wider base of clients. This is a factor of
profitability. On the other hand, through marketing, most companies are capable of netting
new clients to test their range of products. The result of this is that the company will have an
increased sale of its products. It is therefore admissible that a relevant marketing strategy for
any product will define the profitability of the product since the mobility of those specific
products will be enhanced.
Marketing strategies and their relevance: The relevance of a marketing strategy is its
ability to be in perfect sync with the existing market conditions. These strategies must
address the existing framework of the market segment to be branded as effective. Issues to do
with the relevance of these marketing strategies in regards to whether they address the
generational divide can be studied from this understanding. Santanders marketing concepts
were found to be quite aggressive within the various segments of generations. This means
that across various generations, the strategy of integrated market addressed all these. The
result was an incorporation of various marketing strategies that cut across various age sets.
This means that even a wider client base will be achieved by such a strategy. There is a
stronger indication that a marketing strategy that incorporates a larger market base will
enhance profitability
Customer satisfaction as a subset of marketing: the role of any marketing strategy is to
enhance the experience of the customer amongst other things. The customer experience
should be paramount compared to other marketing concepts. Any marketing strategy must be
inherently inclined to address the feelings of the client. Santander has embarked on a strategy
to improve the customer perception regarding its products. This is an element of marketing
that will ultimately be significantly involved in the expansion of the business. Other issues
such as the ability of the clients to launch their complains within the marketing framework
defines the true sense of establishing a proper marketing strategy

71

Marketing and communication with the clients: the whole concept of marketing revolves
around relevant communication between the bank and the clients. In the Likert scale analysis,
the research concludes that through marketing, the clients have found an effective framework
of communication with the bank. This essentially means that the strategy has led to a drastic
improvement of the communication channel between the clients and the company as a whole.
Whether this is a success factor or not, the true essence of marketing lies in the establishment
of the al important communication between the two entities (the customers and the business)
Marketing and customer satisfaction: In trying to outline the relationship between
marketing and customer satisfaction, this work has established an elaborate kinship between
these two concepts. The marketing strategies that have been established by Santander have
been quite critical in the enhancement of customer satisfaction. This has been named as the
ultimate goal of any marketing strategy.
Marketing, product mobility and Marketing and institutional growth: Marketing is a
very critical component of product mobility. This segment of the question set to explore the
growth prospects of institution to advance or evolve across several business cycles. Product
mobility is a very integral factor in the establishment of the growth of that specific industry.
This work has been quite critical in establishing the relationship between the products
mobility of the products and the marketing tenets of the institution
Recommendations
1. Marketing strategies for any corporate entity require the input of the staff working in
the sector. There is need to involve the implementation team to adopt and
domesticate these marketing strategies. the success of these marketing strategies
depend heavily upon the input of the staff members and so their input must be courted
to the latter

72

2. Marketing strategies must resonate well with the dynamic market morphology. in the
financial sector, there is rapid change in the business fabrics. this therefore calls for
the need to evaluate the existing market conditions before rolling out any significant
marketing strategy within any industry
3. Marketing strategies take time to evolve and fit into the business structure. it is
important for stakeholders to take time to evaluate how these strategies link with the
existing business management template. The stakeholders are also obligated to offer
intermittent evaluations of these strategies with a view to improving upon them. this is
also meant to ensure that the emerging trends in the market are equally captured in
drafting these marketing templates
4. There should be an avenue of customers corresponding to the management of the
business entity. As highlighted in this discourse, an effective marketing model takes
into account the need to create channels through which clients are capable of making
relevant correspondence with the management. in this regard, it is sufficient to declare
that the need to create channels and avenues to correspond these two very important
stakeholders is necessary
5. Since all marketing principles are important in the realization of the profitability of
the institution, there is need to have an elaborate budget to ensure that the activities
involved during these marketing activities run smoothly and according to plan. The
results of marketing are quite significant in the enhancement of business and so
practical support must be accorded to the same
6. Marketing is critical in the enhancement of customer satisfaction and in the growth of
the business cycle. This significance of marketing within commercial domains thus
means that all facets of marketing must be supported by all business processes. These
include such aspects like the allocation of resources, training, adoption of new and

73

emerging trends of marketing, enlisting the services of experts in marketing, and also
exploring other efficient means of advancing marketing within institutions

References
Ansoff H.I., 2011. Strategies of Diversification. Harvard Business Review, 25 (5). pp. 113
25,
Beckmann, S. (2011). Interpretive consumer research: Paradigms, methodologies &
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APPENDICES
Appendix one
Questionnaire
Instructions
Tick appropriately within the bracket provided
This questionnaire is strictly for research purposes and the information here will be
treated with a lot of confidentiality

78

 Fill part two of the questionnaire only if you are a staff member of Santander bank

Part one: General knowledge

a) Indicate whether you are a staff member of the bank or a customer

Staff

[ ]

Customer

[ ]

b) age of the respondent

Under 20 years old

[ ]

Between 21-30

[ ]

Between 31-40

[ ]

Between 41-50

[ ]

Above 50 years old

[ ]

c) gender
Male

[ ]

Female

[ ]

d) marital status of the respondent

Single

[ ]

Divorced

[ ]

Married

[ ]

Separated

[ ]

Part two: Staff and the top management

a) Does your company have a marketing plan?
Yes

[ ]

No

[ ]

b) Which type of marketing strategy does the institution adopt?

Marketing mix

[ ]
79

Product positioning

[ ]

Integrated marketing

[ ]

Guerilla marketing

[ ]

Cause marketing

[ ]

Other.
c) When was the marketing strategy adopted?
One month ago

[ ]

Six months ago

[ ]

One year ago

[ ]

More than 5 years ago [ ] Any .

d) Did you contribute in any way to its adoption?

Yes

[ ]

No

[ ]

e) Do you think that implementation of the IMC has in any way increased the
profitability of the company?
Yes

[ ]

No

[ ]

Part three: efficiency of the marketing strategy

a) Do you think the bank has a well-defined strategy to market their products?
Yes

[ ]

No

[ ]

b) How effective do you think the marketing strategy used by the bank is?
Excellent

[ ]

Average

[ ]

Poor

[ ]

c) Does the marketing strategy used by the bank cross cuts all the generational
divides

Yes

[ ]

No

[ ]
80

d) what is your opinion regarding the significance of the strategies of the

institutions
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Part Three: Marketing strategies and customer satisfaction

a) Do you think the marketing strategy used by Santander addresses the customer
needs precisely
Yes

[ ]

No

[ ]

b) Feelings about the marketing strategies of Santander and customer satisfaction

Kindly indicate your level of agreement with the statement below relating to marketing
strategies of Santander bank and customer satisfaction within the same institution. Use a
scale of 1-5, where 1- strongly disagree, 2- disagree, 3- neutral, 4- agree, 5- strongly
agree.
1
Marketing principles adopted
by Santander provides avenues
through which the banks

81

customers can launch

complains over various
products of the bank
The marketing strategy gives
the customers an opportunity
to communicate back with the
bank regarding its products
Strategies adopted by the bank
in its marketing portfolio
enables the clients to have an
input into the running of the
bank
The strategy entails real time
responses where the complains
of the customers are resolved
immediately
The marketing model used
helps to build partnerships

c) In your opinion, indicate the extent to which the marketing strategy used by
Santander bank has led to increased customer satisfaction
A very low extent

to a low extent

To a moderate extent

to a great extent

To a very great extent

d) Do you find it necessary for the bank to evaluate its marketing models?

82

Yes

[ ]

No

[ ]

Part four: marketing and business growth

a) Kindly indicate your level of agreement with the statement below relating to
marketing strategies of Santander bank and the growth of the business within the
institution. Use a scale of 1-5, where 1- strongly disagree, 2- disagree, 3- neutral,
4- agree, 5- strongly agree.
Marketing has led to increased mobility of the products of the bank
Marketing has led to a widened customer base of the bank
The strategy of marketing adopted has led to increased customer
responses or correspondence with the bank
Enhanced understanding of the products of the bank

83

The marketing strategy employed by the bank has led to the inception of
other varied services that increases customer satisfaction

a) In your opinion, indicate the extent to which marketing strategies used in

Santander bank has led to the growth of the institution
A very low extent

to a low extent

To a moderate extent

to a great extent

To a very great extent

Thank you for your responses

84