Journal of Retailing and Consumer Services 22 (2015) 85–95

Contents lists available at ScienceDirect

Journal of Retailing and Consumer Services

journal homepage: www.elsevier.com/locate/jretconser

An Indian customer surrounding 7P's of service marketing

Gyaneshwar Singh Kushwaha 1, Shiv Ratan Agrawal n
Management Studies, Maulana Azad, National Institute of Technology (MANIT), Bhopal, MP, India

art ic l e i nf o a b s t r a c t

Article history: The primary aim of the study is to examine the effects of services marketing mix elements on Indian
Received 4 August 2014 customer for making the appropriate marketing mix strategy in banking services context. The study is
Received in revised form based on a sample of 351 customers of bank users in India who filled an online questionnaire. The paper
13 October 2014
uses confirmatory factor analysis and structural equation modeling (SEM) to analyse and confirm the
Accepted 14 October 2014
Available online 8 November 2014
conceptual model proposed in the research. The paper finds that physical evidence, process, place, and
people have a positive and significant effect on customer. The study suggested an appropriate services
Keywords: marketing mix strategy for Indian customer perspective in the context of banking services. The paper
Services marketing mix would help the bankers to create marketing strategies and action plans to retain their existing customers
Banking
and to attract new customers. The paper is first of its kind to discuss the effects of ‘7Ps’ of services
Indian customer
marketing mix collectively on Indian customer. The results of the analysis indicated that managing the
marketing mix dimensions of product, price and promotion is of less importance except place than
managing interactive marketing dimensions such as people, physical evidence, and process.
& 2014 Elsevier Ltd. All rights reserved.

1. Introduction
The competitive climate in the Indian financial market has
changed dramatically over the last few years. The expectations of
the customers are changing. Indian banking sector has also under-
gone financial reforms since the 1990s (Agarwal et al., 2009; Lenka
et al., 2010). Earlier, banks enjoyed a protected market. After
economic liberalisation, banks were exposed to free market
competition, advanced technological sophistication and changing
customer dynamics (Melewar and Bains, 2002). Owing to the
globalisation of markets, banking in India is experiencing internal
turmoil. Few Indian banks initiated experimenting with new
innovative services by offering online and mobile banking which
provides 24 h service (Kannabiran and Narayan, 2005). Private
sector banks and foreign banks have also introduced some new
innovative services. Banking firms have become flatter and
customer-centric now.
In recent years, there has been an increasing interest in the service
marketing mix which aims to achieve the maximum outcomes in
terms of customer satisfaction and retention that allow firms, includ-
ing banks, to be competitive over time. During the past decade,
marketers and researchers have identified the importance of 7Ps of
services marketing and customer orientation for sustainable compe-
titive advantage (Gronroos, 2004). Crisis in banking industry have
n
Corresponding author. Mobile: þ 91 9826149599.
E-mail addresses: gyanbhu@gmail.com (G.S. Kushwaha),
agrawalshivratan@gmail.com (S.R. Agrawal).
1
Mobile: þ 91 9479540151.
shown the need for sustainable and effective service marketing mix
strategies. Krasnikov et al. (2009) suggested that a successful market-
ing mix approach can help banks to achieve better customer service
and support, greater efficiency and cost reduction. The major differ-
ence between services marketing mix and regular marketing is that
instead of the traditional 4Ps i.e. product, price, place, and promotion,
there are three additional Ps consisting of people, physical evidence,
and process. It means that service marketing mix involves the 7Ps of
marketing i.e. product, price, place, promotion, people, physical
evidence, and process. To a certain extent managing services are more
complicated then managing products. Products can be standardised, to
standardise a service is far more difficult as there are more input
factors involve, namely, physical evidence, process, and people
(Gronroos, 1997). There is evidence to suggest that managing the
marketing mix (i.e. product, price, place, and promotion) is of less
importance than managing interactive marketing dimensions, namely,
people, processes and physical evidence (Gummesson, 1987, 1999).
While the literature defines 7Ps of services marketing as being wide in
scope and it encompasses all of the dimensions, some dimensions are
of more importance than others. In such a situation, marketing is no
longer a function of its own but rather it becomes part of the various
functions of the firm (Gronroos, 2000).
On the other hand, bank deals with providing services to satisfy
customers' financial needs and wants. Banks have to find out the
financial needs of the customers and offer the services which can
satisfy those needs. Banks may also require satisfying the customers'
financial and other related needs and wants. The individuals and
corporate bodies have certain needs in relation to money commodity
(Bang and Philipp, 2013). To satisfy these financial needs, customers

http://dx.doi.org/10.1016/j.jretconser.2014.10.006
0969-6989/& 2014 Elsevier Ltd. All rights reserved.
86 G.S. Kushwaha, S.R. Agrawal / Journal of Retailing and Consumer Services 22 (2015) 85–95
want specific services. Wallis (1997) stated that “customers will seek
out those financial products and services which offer the best value
for money”. Different banks offer different benefits by offering
various schemes which can take care of the wants of the customers.
Service marketing mix helps in achieving the organisational objec-
tives of the bank (Gronroos, 1982). It is the ‘aggregate of functions’
which signify the totality of the marketing activity. This aggregate of
functions is the sum total of all individual activities consisting of an
integrated effort to discover, create, arouse and satisfy customer
needs (Alexander and Colgate, 2000). This means that each indivi-
dual function in the banking is a marketing function which con-
tributes to the total satisfaction to customers and the bank should
ultimately develop integrated customer orientation approach.
Because firm cannot stay in business so long if it does not attract
and hold enough customers, no matter how efficiently it operates
(Zeynep and Toker, 2012).
The literature review revealed that the concept of marketing
mix and additional three P's of services marketing have been
defined by a large number of marketing researchers in different
contexts and along different industries. The importance of
research on these P's strategy is undoubted. However, empirical
research on the 7P's of services marketing mix in banking industry
is unfortunately characterised by non-significant, contradictory
and confusing (Berry, 1995). Banking is such as industry that the
degree of flexibility of the service marketing mix is low, and the
initiative of banks that present those services is less than other
industries (Lovelock, 1996). In addition, banking sector has been
suffering in creating superior individual service performance and
direct relations with their customers (Shin and Elliott, 2001). A
fundamental issue facing Indian banking is the question of how to
coordinate the different generic services marketing mix dimen-
sions around the Indian customer. The literature on services
marketing strategy provides a magnitude of arguments for both
the standardisation and the adaptation of the different combina-
tion of 7Ps in various financial services (Gronroos, 1997, 2004).
Many researchers have also focused on a single analysis of the
influence of one marketing mix dimension on a firm's perfor-
mance (Lymperopoulos et al., 2013; Lees et al., 2007). However, a
marketing mix does not result in a single marketing ‘P’ strategy. It
may be the interplay of all 7P's elements at the same time. So there
is a need to examine the appropriate services marketing mix
strategy for Indian customer perspective in banking services.
Therefore, the present study is expected to contribute to the
literature on services marketing mix as related to Indian customer
in banking services. The primary aim of the current study is to
examine the effects of services marketing mix elements on Indian
customer for making the appropriate marketing mix strategy in
the context of banking services.
The rest of the paper proceeds as follows: Section 2 presents the
literature review and hypotheses of the study. In Section 3, the
implemented methodology is described. The data analysis and find-
ings of the paper are given in Section 4 and in Section 5, disc-
ussion and conclusion of the study are presented. The Section 6
presents the managerial implications of the research. Finally, Section 7
includes some limitations and proposals for future research.
2. Literature review and hypotheses development
2.1. Customer
It was McCarthy (1960) who clarified that the customer is not a
part of the marketing mix; rather, he should be the target of all
marketing efforts (Kotler, 2000). In order to develop effective
marketing strategies, the marketers need first to understand why
customers use services and how they choose among competing
service suppliers (Lovelock, 1983). What are their expectations at
each step in service delivery? Finally, of course, they should
determine whether the experience of using the service and
receiving its benefits has met customers' expectations and left
them satisfied and ready to repurchase in the future (Coye, 2004).
Indian customers also typically hold similar desired expectations
across banking services (Shanker, 2002). A customer's desired
service expectation from banks may be quick, convenient, value
added, low cost, with advanced technology, easy and smooth, safe
and reliable through a modern branch setting (Zeithaml et al,
2008; Gronroos and Vioma, 2013). Safe and reliable banking is the
primary concern of all customers (Dabholkar and Bagozzi, 2002;
Joseph et al., 1999; Yang et al., 2004). Marketers do not usually
need to know the specifics of how physical goods are manufac-
tured—that responsibility belongs to the people who run the
factory (Johnson and Mathews, 1997). However, the situation is
different in services because their customers are often involved in
service production and may have preferences for certain methods
of service delivery, so that marketers must understand the nature
of the processes through which services are created and delivered
(Zeithaml, 1981). Because designing a simple and seamless service
delivery process support firms to reduced the necessary time of
delivering the service products (Danaher and Mattsson, 1998;
Gronroos, 1990). It has an important role in shaping customers
overall perception of service quality evaluation (Anderson and
Sullivan, 1993; Cronin and Taylor, 1992). This strategic response of
a firm can achieve the competitive advantage from its competitors
and surpass the competition. It significantly affects the creation
and delivering of superior value, customer satisfaction, competi-
tive advantage, growth opportunity, and profitability of the firm
(Shamah, 2013; Lytle and Timmerman, 2006; Gronroos and Vioma,
2013; Haas et al., 2012).
Due to a dynamic business environment, Indian banks have also
started to adopt customer-driven marketing strategies to address the
rapid and changing needs of their customers (Agarwal et al., 2009).
Thus, banks have come to realise the importance of differentiating
themselves from their competitors on the basis of superior customer
service and relying on effective service marketing mix strategies
instead of the traditional banking (Levitt, 1974; Gronroos, 1982). But
the first and most important step in applying any marketing strategy
is to have a whole hearted commitment to customer orientation
(Gummesson, 2008). This means that the central focus of all the
marketing activities of a bank is customer (Carson et al., 2004). As a
result, the notion of 7Ps of services marketing mix has emerged as a
key factor in modern banking and their customer analysis (Zeithaml
and Bitner, 1996). Understanding and gaining access to India's
markets will also require careful analysis of customer perception
regarding services marketing mix.
2.2. Services marketing mix
The concept of the marketing mix was coined by Neil Borden in
1953 and then formalised in his article ‘The concept of the
Marketing mix’ (Borden, 1964). McCarthy (1960) then summed
up 12 elements of Borden's marketing mix into ‘4Ps’- product,
price, place, and promotion. Alternative models of marketing mix
were also proposed around the same time. However, McCarthy's
four Ps model has dominated marketing thoughts, particularly in
the goods marketing context (Gronroos, 1994). For service indus-
tries, it was observed that the traditional marketing mix was
inadequate because the original marketing mix was developed for
manufacturing industries (Gitlow, 1978; Shamah, 2013). The mar-
keting practitioners in the service sector found that the marketing
mix does not address their needs (Helm and Gritsch, 2014). They
observed that the services have certain basic characteristics which
in turn, have marketing implications (Rathmell, 1974). For example
 G.S. Kushwaha, S.R. Agrawal / Journal of Retailing and Consumer Services 22 (2015) 85–95
there is a problem as regard to maintaining the quality due to lack
of standardisation. Also services cannot be inventoried, patented
or transferred. Services are basically different in comparison to
physical products (Gitlow, 1978; Fukey et al., 2014). Therefore, the
marketing models and concepts have to be developed in direction
of the service sector (Gronroos, 1987). Then, the marketing mix
has extended beyond the 4Ps for marketing of services (Gronroos,
1983). The three additional Ps are added to meet the marketing
challenges posed by the characteristics of services such as people,
physical evidence, and process. A number of marketing research
studies supplements the relevance of each of the ‘7Ps’ of services
marketing mix (Berry and Parasuraman, 1991; Gronroos and Helle,
2012).
On the other hand, Indian banking sector has been slow in
adopting the modern marketing knowledge to their advantage
(Kannabiran and Narayan, 2005; Taherdoost et al., 2014). There is
no actual realisation that 7Ps of services marketing can be of use to
them. They are not even clear about the scope and dimensions of
marketing, as applicable to banking industry (Shanker, 2002). But
the present scenario is totally changed because of fast-changing
customer needs and intense competition in the banking services.
This business environment has created more diversified and
dynamic customer base (Barnes et al., 2004). Customers now have
a lot of options from which to opt, they can easily switch over from
one service provider to other who promises to offer better services
at lower costs (Bhardwaj, 2007). So the focus of banking services
now has been completely shifted from a transactional marketing
approach to a customer oriented approach. In this regard, services
marketing mix can be a critical component in running a successful
business in today's economy (Zeithaml et al., 2008). Because
developing a complete marketing mix is vital for any business.
Without it, all efforts to achieve organisational goal are likely to be
haphazard and inefficient. This has resulted in banks becoming
increasingly engaged in marketing and planning activities in order
to achieve certain objectives such as attracting new customers or
providing a superior service for high net-worth clients or retaining
valuable customers. These changes in the nature of marketing
activity have repercussions for service marketing mix decision
making and implementation (Lovelock et al., 2001). As marketing
activities become more sophisticated in banking sector, greater
attention needs to be directed towards product, price, place,
promotion, people, physical evidence, and process.
2.2.1. Product
Product is anything which is offered to the market for exchange
or consumption (Kotler, 2000). In goods marketing, there is a
tangible component to which some intangibles like style, after-
sales-service, credit, etc. are integrated (Gronroos, 1987). In the
case of services, the tangible component is nil or minimal (Bang
and Philipp, 2013). A service is a bundle of features and benefits
and these have relevance for a specific target market (Taherdoost
et al., 2014). Since the products offered to the customers of a bank
are more or less standardised in nature, banks are feeling an
increasing need to design customised products/services to meet
customer needs (Pathmarajah, 1991). Yang (2012) investigated in
his empirical study in Taiwan banking that banks customise their
products/services in innovative ways, responsive to customer
needs. In terms of complexity in financial services, due to high
risk and high involvement nature, access to a trusted provider
offering value added products/services is paramount (O’Loughlin
and Szmigin, 2006; Haas et al., 2012). Value added dimension
includes those features which are embedded in service itself as its
characteristics. Bank's product such as saving accounts, current
accounts, fixed deposits, and investment options are the primary
component in this category (Estiri et al., 2011). Gounaris et al.
87
(2003) based on the SERVQUAL model suggested that customer
perceptions about service quality in banking sector should be
consisted product innovativeness and value added products/ser-
vices (Sjodin and Kristensson, 2012). The bank marketing litera-
ture indicates that the transaction context in banking services is
mainly concerned with product and then achieving organisational
goals that emphasise product profitability (Coviello et al., 1997).
Therefore, while developing a service product it is important that
the package of benefits in the service offer must have a customer's
perspective (Skowron and Kristensen, 2012). Hence, in the same
direction our first hypothesis states that:
H1. Product has a positive and significant effect on customer.
2.2.2. Price
Price could be considered as an attribute that must be scarified
to obtain certain kinds of products or services (Zeithaml, 1988). In
banking industry, price includes fees, bank charges, and interest
rates (Gerrard and Cunningham, 2004). If prices are not charged
with fairness and competitiveness, it triggers customer switching
immediately in banking and other financial services (Colgate and
Hedge, 2001). It means that perceptions of price have a direct
impact on customer satisfaction and customer loyalty (Martin-
Consuegra et al., 2007; Bang and Philipp, 2013).
Pricing is yet another strong variable of the marketing mix
(Shanker, 2002). The service pricing should be such as to provide
value addition and quality indication to the customers (Ng et al.,
2012). Customers see price as a key part of the costs they must incur
to obtain wanted benefits (Zeithaml, 1988). To calculate whether a
particular service is worth it, they may go beyond just money and
also assess the outlays of their time and effort (Zeithaml et al., 2008).
Otherwise customers have a lot of alternatives to choose in the
market and can easily switch over from one service provider to other
who promises to offer better goods/services at lower prices
(Bhardwaj, 2007; Valenzuela, 2010; Lees et al., 2007). Customers
are becoming more price-sensitive and less loyal (Low, 2012).
Customer attrition has become a real and pressing concern. There-
fore, service marketers must not only set prices that target customers
are willing and able to pay as a low cost, but also convey the message
that they are getting more in using that particular product or service
(Clemes et al., 2010). Many marketing researchers investigated that
pricing is an important key driver for different customer related
variables such as, attraction, satisfaction, retention and loyalty (Low,
2012; Lees et al., 2007; Mavri and Ioannou, 2008; Manrai and Manrai,
2007; Gupta and Dev, 2012). Therefore, it is expected that:
H2. Price has a positive and significant effect on customer.
2.2.3. Place
A flurry of research has considered that services differ from
products in terms of characteristics such as, intangibility, inse-
parability, perishability, and interactivity (Carson et al., 2004;
Taherdoost et al., 2014). Hence, traditional distribution channels
available for product marketing cannot be used in services
marketing (Gronroos, 1983). Services cannot be separated from
selling; it must be created and sold at the same time (Borden,
1964). The field of logistics has not been recognised as an area of
consideration for effective distribution of services whether it is
the question of locating a site for a new branch of a bank, location
of educational institutions, hotels, etc. (Gronroos, 2011). In India,
these logistical problems are always overshadowed by govern-
ment policy or interventions. There are guidelines suggesting
that to open a single branch in any urban area, a nationalised
bank has to first open a fixed number of branches in rural areas
(Shanker, 1992).
Over the last three decades, the proliferation of new informa-
tion and communication technologies in the banking sector has
88 G.S. Kushwaha, S.R. Agrawal / Journal of Retailing and Consumer Services 22 (2015) 85–95
changed the way banks service their customers (Kivijarvi and
Saarinen, 1995; Brodie et al., 2013). The increased availability of
self-service technologies has enabled banks to pursue an electro-
nically mediated multi-channel strategy (Hannan and McDowell,
1984; Purcarea et al., 2013). Automated teller machines (ATMs)
have been considered as one of the most well-known and classic
examples of self-service technology application in the banking
sector since 1960s (Ordanini and Parasuraman, 2011; Hung et al.,
2012). Now the banks are able to deploy more and more ATMs and
replace costly counter tellers in order to improve cost efficiency
(Beccalli, 2007; Al-Hawari et al., 2005). To enhance their customer
service, attract new customers and remain competitive in banking
industry, all domestic as well as foreign banks in India are
establishing technology-driven delivery channels based branches
near to customer (Lovelock et al., 2007). In banking sector,
customers choose different service delivery channels in a com-
plementary way such as, the bank's physical location (Castleberry
and Resurreccion, 1989; Oppewal and Vriens, 2000), the opening
hours, distance to reach a bank, parking places, and ATM avail-
ability (Santos, 2003; Al-Hawari and Ward, 2006; Wu, 2011;
Levesque and McDougall, 1996; Manrai and Manrai, 2007). Gupta
and Dev (2012) also argued that the large number of branches and
ATMs at various locations make the bank more approachable to
the customers. Consequently, the study states the following
hypothesis:
H3. Place has a positive and significant effect on customer.
2.2.4. Promotion
It represents the communications that marketers use in mar-
ketplace including advertising, public relations, personal selling
and sales promotion (McCarthy, 1960; Gronroos, 1994). In certain
service industries it is not possible to use the conventional
promotion tools with success (Rathmell, 1974; Santouridis and
Kyritsi, 2014). For example, a bank may face difficulty to afford
heavy promotional budgets due to its small size of the operations
(Borden, 1964; Aaker and Jacobson, 1994). Duncan (1985) sug-
gested that the service industries have to think about other
promotional tools like public relations and publicity (Lacey,
2012). Therefore, promotional activities like community relations,
event management, media blitz, and corporate identity pro-
grammes have relevance and they should be used innovatively
and effectively (Kotler, 1986; Trainor, 2012). Lovelock (1996)
identified the impact of marketing communication on customer
behavioural intentions such as, satisfaction, loyalty, retention and
among others (Hoffmann and Birnbrich, 2012). All the techniques
and strategies of promotional mix are used so that ultimately they
induce the people to do business with a particular firm (Gronroos,
1994; Angel and Manuel, 2005; Jayakumar and Anbalagan, 2012;
Goyal and Joshi, 2012; Michael and Mekoth, 2012). Indian Market
Research Bureau (IMRB), one of the largest market research
consultancy organisations, has conducted market research studies
in the field of banking and evaluated the bank's advertising and
publicity and its image among the people (Shete, 1989). It reflects a
customer's overall perception about that firm (Bloemer et al.,
1998). Hence, we put forward the following hypothesis:
H4. Promotion has a positive and significant effect on customer.
2.2.5. People
Judd (1987) came out with another ‘P’, People. He even went
further by recommending that people power should be formalised,
institutionalised and managed like the other 4Ps as a distinctive
component of the market mix. Judd's argument was that it is the
employees of an organisation who represent the organisation to
the customers. If these employees are not given training in how to
go about face-to-face customer contact, the entire marketing effort
may not prove to be effective (Salloum and Ajaka, 2013; Anca and
Daniel, 2012). Berry and Parasuraman (1991) suggested that a
service firm can be only as good as its people. A service is a
performance and it is usually difficult to separate the performance
from the people (Shanker, 2002). The way service is delivered by
the people can be an important source of differentiation as well as
competitive advantage (Lovelock et al., 2007; Raj et al., 2014).
These are the reasons why the ‘People’ element forms such an
important part of the 7Ps of services marketing mix (Zeithaml
et al., 2008).
In the case of banking, the service employee is often the primary
contact point for the customer whenever the customer interacts with
the employee (Crosby et al., 1990). Customers' perceptions of the
performance of service employees play an important role in custo-
mers' evaluations of service quality (Gronroos, 1982, 1984). Therefore,
the bankers' attention should be focused on employee service quality
and to develop of their services skills consistently (Jamal and Naser,
2002; Ahearne et al., 2012). Many consider personal interaction is a
key driver among the dimensions of service quality and merged
together some of the SERVQUAL's items related to responsiveness,
assurance, and empathy (Dabholkar et al., 1996; Carman, 1990;
Sheorey et al., 2014). More specifically, it includes attitude, behaviour,
expertise, confidence, courtesy, and willingness to help of the
employees toward customers (Bitner, 1990; Brady and Cronin,
2001; Dabholkar et al., 1996; Yavas et al., 1997; Fukey et al., 2014).
In addition, customer-oriented service employees with a focus on
showing personal attention, interpersonal care, willing to help,
politeness, and promptness behaviour are likely to contribute sig-
nificantly toward the strength of customer–employee relationship
(Beatty et al., 1996; Levesque and McDougall, 1996; Johnston, 1997;
Winstanley, 1997; Gronroos and Helle, 2012). Thus, we propose the
following hypothesis:
H5. People have a positive and significant effect on customer.
2.2.6. Physical evidence
Services are often intangible, and customers cannot assess their
quality well. So customers use the service environment as an
important proxy for quality (Shanker, 2002). Service environ-
ments, also called servicescape or physical evidence, relate to the
style and appearance of the physical surroundings and other
experiential elements encountered by customers at service deliv-
ery sites (Lovelock et al., 2007; Klaus and Maklan, 2012). Service
firms need to manage physical evidence carefully, because it can
have a profound impact on customers' impressions (Zeithaml et
al., 2008; Kranias and Bourlessa, 2013). The appearance of build-
ings, landscaping, interior furnishing, equipment, staff members'
uniforms, signs, communication materials, and other visible cues
all provide tangible evidence of a firm's service quality (Zeithaml
and Bitner, 1996; Fukey et al., 2014).
The physical evidence is also important for banks because it
conveys to the customers an external image of the service package
(Miles et al., 2012). If a bank wants to have user friendly, hi-tech and
efficient image, the branch infrastructure will have a comfortable
seating, pleasant lighting and temperature, computer systems with
advanced technology and network connectivity (Bloemer et al., 1998;
Helm and Gritsch, 2014). The modern infrastructure with latest
technology influences customers' perceptions of the service provider
and customers' behavioural intentions (Sohn and Tadisina, 2008).
Many technological and structural changes have taken place within
the global banking environment to attract and retain the customers
(Angur et al., 1999). In the post-liberalised economy, Indian public and
private sector banks have reformed their workplace layout to give a
comfortable, efficient and user-friendly image (Lenka et al., 2010).
Therefore, we hypothesise:
 G.S. Kushwaha, S.R. Agrawal / Journal of Retailing and Consumer Services 22 (2015) 85–95
H6. Physical evidence has a positive and significant effect on
customer.
2.2.7. Process
Processes are the architecture of services (Amin et al., 2013).
Process describes the method and sequence in services and creates
the value proposition that has been promised to customers
(Lovelock et al., 2001; Salloum and Ajaka, 2013). In high-contact
services, customers themselves are an integral part of the opera-
tion and the process becomes their experience (Gronroos, 2011;
Helm and Gritsch, 2014). Badly designed processes are likely to
annoy customers because they often result in slow, frustrating,
bureaucratic and poor-quality service delivery (Lahteenmaki and
Natti, 2013). The well designed process assures service availability,
consistent quality, total ease and convenience to the customers
(Zeithaml et al., 2008; Purcarea et al., 2013). As service cannot be
inventoried, it is essential to designed sound process management
system which can balance service demand with service supply in
peak hours (Bitner, 1990; Fukey et al., 2014; Danaher and
Mattsson, 1998; Sheorey et al., 2014).
For service industries, such as banking, process is an important
way of creating better value-in-use (Zeithaml et al., 2008). The
availability of advanced self-service technologies within the financial
industry has changed the way banks service their customers
(Liljander et al., 2006). The financial service sector has used remote
distribution channels such as the telephone or Internet to reach more
customers, cut out intermediaries, bring down overheads and
increase profitability (Kivijarvi and Saarinen, 1995). Banking custo-
mers today can access a variety of services from their home, office or
elsewhere (Hoehle et al., 2012). But the processes involved in the
banking services should be easy and smooth, fast and accurate, and
customer friendly (Dabholkar and Bagozzi, 2002; Joseph et al., 1999;
Meuter et al., 2000). Businesses have moved from off-line to on-line
through electronic channels (Chen and Chen, 2004; Zeynep and
Toker, 2012). This approach is commonly called ‘e-banking’ in terms
of banking services (Colgate and Alexander, 1998). Many authors
argued that the accessibility of e-banking from any location, at any
time of the day, is an important factor for customers (Tan and
Thompson, 2000). In banking services, customer satisfaction mainly
depends on the process of service delivery (Shamah, 2013). Sohn and
Tadisina (2008) investigated that ease of use and speed of delivery
are also important dimensions of service quality for online financial
services. Similarly, Ibrahim et al. (2006) reported that convenience
of services, accuracy, and ease of use are the essential factors in
e-banking services. Therefore, we hypothesis (Fig. 1):
H7. Process has a positive and significant effect on customer.
3. Methodology
3.1. Measurement instrument
The survey instrument was developed based on an extensive
review of the literature and studied definitions. The constructs and
their observable items are presented in Table 1. The final set of 20
items was examined by an academic experienced in questionnaire
design. The questionnaire was subsequently piloted with 20
different banking customers to ensure that the questions and
response formats were clear. Minor amendments were made
based on feedback from the pilot study. The final questionnaire
consisted of three sections. In the first section, questions were
related to banking services in terms of 7P's of service marketing
toward customer. The second section contained questions regard-
ing demographic characteristics of the respondents such as gen-
der, age, education, profession and gross income per month. In the
last, respondents were asked about their bank name and location.
89
All the items were put on a five-point Likert scale where a value of
1 expresses strongly disagree and a value of 5 expresses
strongly agree.
3.2. Sampling design and data collection
Testing the suggested research hypotheses was accomplished
through an online convenience sample survey of bank customers
of 24 cities in India. There was a note enclosed with the
questionnaire that the customers have to share one of the banking
services experiences which is being operating by them frequently.
Three hundred and seventy-six respondents filled up the ques-
tionnaire online within the months of March–July, 2014. Total of
376 questionnaires were received out of which 351 were found to
be completely and accurately filled, the rest 25 were discarded due
to incomplete information. Respondents were the customers of
different 15 banks. Ten of these banks were public sector banks
namely, State Bank of India (SBI), Central Bank of India (CBI), Vijay
Bank, Bank of India (BOI), Punjab National Bank (PNB), Canara
Bank, Allahabad Bank, Bank of Baroda (BOB), Union Bank of India
(UBI), and United Commercial Bank. Other five were private sector
banks namely, Housing Development Finance Corporation (HDFC)
Bank, Industrial Credit and Investment Corporation of India (ICICI)
Bank, Industrial Development Bank of India (IDBI) Bank, Axis Bank,
and Citi Bank. All 15 banks have the largest network of branches in
India. The detailed sample characteristics are shown in Table 2.
4. Data analysis and findings
The study used structural equation modeling (SEM) to test the
conceptual model. SEM technique is also useful for concurrent
assessment of both reliability and validity. As the conceptual
model is relatively complex, a partial least squares (PLS) approach
was employed with a 2000 subsamples bootstrapping procedure
using the SmartPLS software (Anderson and Gerbing, 1988; Chin,
1998, 2001).
4.1. Scale validity and reliability
A confirmatory factor analysis (CFA) was conducted to assess
the construct validity of each latent construct of measurement
model (Hair et al., 1998; Bagozzi and Edwards, 1998). It is
examined through convergent validity and discriminant validity.
Convergent validity is tested by examining the factor loadings and
the average variance extracted (AVE) which should be greater than
0.50 for both (Lin and Ding, 2006). Discriminant validity has been
assessed using the Fornell and Larcker (1981) criterion. The square
root of AVE should exceed the construct correlations with all other
constructs. The constructs' internal consistency can be measured
for all scales through Cronbach's α as well as a measure of
Product
Process Price
H7 H1 H2
H6 H3
Physical Customer
Place
Evidence
H5 H4
People Promotion
Fig. 1. The conceptual framework of the study.
90 G.S. Kushwaha, S.R. Agrawal / Journal of Retailing and Consumer Services 22 (2015) 85–95

Table 1
The latent variables and their observable indicators.

Latent Observable variables

variables

Product IP: innovative products/services (Yang, 2012; Gounaris et al., 2003; Gustafsson et al., 2003; Berthon et al., 2004)
VAP: value added products/services (O’Loughlin and Szmigin, 2006; Estiri et al., 2011; Gounaris et al., 2003; Gustafsson et al., 2003; Berthon et al., 2004)
Price LC: low cost (Zeithaml, 1988; Bhardwaj, 2007; Valenzuela, 2010; Lees et al., 2007)
GM: getting more (Zeithaml, 1988; Clemes et al., 2010; Gronroos, 1994; Levitt, 1974)
Place BLC: branch location convenience (Castleberry and Resurreccion, 1989; Oppewal and Vriens, 2000; Lovelock et al., 2007)
EAA: easy availability of ATM (Beccalli, 2007; Al-Hawari et al., 2005; Santos, 2003; Al-Hawari and Ward, 2006; Levesque and McDougall, 1996; Oppewal
and Vriens, 2000; Manrai and Manrai, 2007)
Promotion BAD: bank advertisement (Shete, 1989; Jayakumar and Anbalagan, 2012; Goyal and Joshi, 2012)
SCE: social and cultural events (Duncan, 1985; Frey, 1961; Kotler, 1986)
PSI: promotional strategies impact (Lovelock, 1996; Gronroos, 1994; Angel and Manuel, 2005)
People PA: personal attention (Beatty et al., 1996; Levesque and McDougall, 1996; Johnston, 1997; Winstanley, 1997)
PO: politeness (Gronroos, 1982, 1984; Beatty et al., 1996; Levesque and McDougall, 1996; Johnston, 1997; Winstanley, 1997)
WTH: willing to help (Bitner, 1990; Brady and Cronin, 2001; Dabholkar et al., 1996, Yavas et al., 1997)
QR: quick response (Beatty et al., 1996; Levesque and McDougall, 1996; Johnston, 1997; Winstanley, 1997)
Physical MI: modern infrastructure (Sohn and Tadisina, 2008; Bloemer et al., 1998; Lovelock et al., 2007; Zeithaml and Bitner, 1996)
evidence ATECH: advanced technology (Angur et al., 1999; Sohn and Tadisina, 2008; Bloemer et al., 1998; Liljander et al., 2006)
Process EAS: easy and smooth (Chen and Chen, 2004; Zeithaml et al., 2008; Dabholkar and Bagozzi, 2002; Joseph et al., 1999; Meuter et al., 2000)
FOS: fast online services (Colgate and Alexander, 1998; Hoehle et al., 2012; Chen and Chen, 2004)
SAYC: services at your convenience (Tan and Thompson, 2000; Ibrahim et al., 2006; Shanker, 2002; Gronroos, 2004; Zeithaml et al., 2008)
Customer OPQ: overall products/services quality (Danaher and Mattsson, 1998; Gronroos, 1990; Zeithaml, 1981; Zeithaml et al., 2008; Anderson and Sullivan,
1993; Cronin and Taylor, 1992)
SR: safe and reliable (Dabholkar and Bagozzi, 2002; Joseph et al., 1999; Yang et al., 2004)

Table 2 measurement model reflects good construct validity and reliabil-

Demographic breakdown of participants. ity. Common method bias was also considered when choosing
items and designing the survey, the test of Harman's single-factor
Category n Percentage (%)
found no evidence of such bias (Podsakoff et al., 2003).
Gender
Male 209 59.54
Female 142 40.46 4.2. Structural model analysis
Age
o21 15 4.27 4.2.1. Model assessment
21–30 91 25.93
SEM is a comprehensive statistical technique for examining
31–40 199 56.70
41–50 33 9.40 relations between observed and latent variables. But employed
450 13 3.70 SmartPLS software does not provide a traditional assessment of
Education
overall model fit (Chin, 1998). Therefore, to evaluate the model, the
Under graduate 33 9.40 goodness of fit (GoF) index was used (Tenenhaus et al., 2005).
Graduate 102 29.06 Tenenhaus et al. (2005) proposed a GoF criterion to assess the
Post-graduate 180 51.28 global model as such:
Doctorate 36 10.26
pffiffiffiffiffiffiffiffiffiffiffiffiffiffiffiffiffiffiffi
Occupation GoF ¼ AVEX R2
Service 272 77.50
Businessman 33 9.40
Professional 20 5.70
Self-employed 11 3.13
Thus, GoF is calculated by the geometric mean of the ave-
Student 15 4.27 rage communality and the average R² (for endogenous con-
structs). The R² refers to the exploratory power of the predictor
Monthly Income
o&10000 15 4.27 variable(s) on the respective construct. In the present study,
&11000 - &20000 96 27.35 the calculated value of AVE ¼0.68 and R² ¼0.285 (see Fig. 2).
&21000 - &30000 134 38.18 For the model, a GoF value is 0.44, which indicates that a very
&31000 - &40000 67 19.09 good global model fit with the data collected. Wetzels et al.
4&41000 39 11.11
(2009) suggested the following cut-off values for assessing the
results of GoF analysis: GoF ¼ 0.1(small); GoF ¼0.25(medium);
and GoF ¼0.36(large).
As multicollinearity can affect the results, the study examined
the tolerance and variance inflation factor values (VIF) for multi-
composite reliability (CR) and should be exceed the recommended collinearity assessment. To assess collinearity issues of the study
threshold criterion of 0.70 for both (Nunnally, 1978). model, the latent variable scores (calculated by SmartPLS) can be
As shown in Table 3, all items had significant loadings onto the used as input for multiple regressions in IBM SPSS software to get
respective latent constructs with values varying between 0.65 and the tolerance and VIF values, as SmartPlS does not provide these
0.93 and the AVE for all exceeded the recommended level of 0.50 numbers. As shown in Table 5, the variables had no VIF values
(Bagozzi and Yi, 1988). CR and α-values of all the latent variables exceeding 5 (variables VIF o 2) and tolerance level of 40.2
are greater than the acceptable limit of 0.70 (Carmines and Zeller, (Grewal et al., 2004; Hair et al., 2011), so there is no multi-
1988). Table 4 shows the values of the square root of the AVE collinearity between the independent variables. Hence, we pro-
are all greater than the inter-construct correlations. Thus, the ceeded to examine the study model shown in Fig. 2.
 G.S. Kushwaha, S.R. Agrawal / Journal of Retailing and Consumer Services 22 (2015) 85–95 91

4.2.2. Main effects and path coefficients and to determine the right services marketing mix in the context of
Bootstrapping with 2000 resample was done to derive t-values banking sector. The research emphasises the important role of
for significance testing of the structural path (Chin, 2001). Stan- services marketing mix on banking industry. In bank marketing,
dardised path coefficients (β), t-statistics, and associated signifi- little prior research focuses on the relationship among the ‘7Ps’ of
cance levels for all relationships in the study model are presented service marketing mix efforts toward customer. The present study
in Table 5. Using a two-tailed t-test with a significance level of 5%, examined a model to explain the mentioned relationship in the
the path coefficient will be significant if the t-value is larger context of Indian banking customer. In other words, the effect of
than 1.96. individual ‘P’ of services marketing mix on customer was deter-
The results indicated that place (β ¼ 0.147; p o0.05), people mined. Confirmatory factor analysis was employed to produce
(β ¼0.124; p o0.05), physical evidence (β ¼0.195; p o0.05), and empirically-verified and -validated underlying dimensions of pro-
process (β ¼0.181; p o0.05) had a positive and significant effect on duct, price, place, promotion, people, physical evidence, process, and
customer. Thus, H3, H5, H6, and H7 were accepted. However, customer. SEM was then applied to test the model with a 2000
product (β ¼0.096; p 40.05), price (β ¼0.032; p 40.05), and subsamples bootstrapping procedure using the SmartPLS software
promotion (β ¼0.057; p4 0.05) showed no significant effect on (Anderson and Gerbing, 1988).
customer. Therefore, H1, H2, and H4 were rejected. The findings show that there exists a need for a different view
of every single dimension of the services marketing mix. The study
found place, people, physical evidence and process had a positive
5. Discussion and conclusion and significant effect on customer (Vargo et al., 2008; Amin et al.,
2013). However, product, price, and promotion had no significant
The purpose of the study was to demonstrate the most important effect on customer (Gummesson, 1987, 1999). The results of the
elements of services marketing mix that influence Indian customer analysis indicated that managing the marketing mix dimensions of
product, price and promotion is of less importance except place
than managing interactive marketing dimensions such as people,
Table 3 physical evidence, and process (Walsh et al., 2004; Iriana et al.,
Measurement model summary. 2013). More specifically, it can be inferred that managing the
additional services marketing mix elements such as people,
Construct Items Factor loading AVE CR Cronbach's α
physical evidence, and process with the concern of place are more
Product 0.68 0.81 0.75 important in the context of bank marketing (Purcarea et al., 2013).
IP 0.91 Finally, the study has brought together the right services market-
VAP 0.73 ing mix elements in terms of Indian banking customer namely,
Price 0.64 0.78 0.71 place, people, physical evidence, and process. Among the services
LC 0.65
GM 0.93
marketing mix efforts addressed in the model, the physical
Place 0.69 0.82 0.76 evidence had the most (β ¼0.195) impact on customer (Klaus
BLC 0.78 and Maklan, 2012), followed by process (β ¼ 0.181) (Nguyen and
EAA 0.88 Waring, 2013) and place (β ¼0.147) (Boon-itt and Wong, 2011). On
Promotion 0.66 0.85 0.75
the other hand, people (β ¼ 0.124) had a small effect on customer
BAD 0.82
SCE 0.79 among them (see Table 5). The study also indicated that customers
PSI 0.83 are found to care about modern infrastructure and advanced
People 0.75 0.92 0.89 technology with loadings of 0.93 and 0.84 respectively (Vera and
PA 0.85 Trujillo, 2013). They are the good indicators of physical evidence
PO 0.88
WTH 0.86
with highest β value of 0.195 in the research model. Meanwhile, it
QR 0.86 was revealed that easy and smooth service process, fast online
Physical evidence 0.79 0.88 0.74 services, and services at customer's convenience are important
MI 0.93 observable variables of process (β ¼ 0.195) with loadings of 0.85,
ATECH 0.84
0.76 and 0.82 respectively (Vera and Trujillo, 2013). The indicators
Process 0.65 0.85 0.74
EAS 0.85 of latent construct of place with (β ¼ 0.147) such as branch location
FOS 0.76 convenience and easy availability of ATM are also the concerning
SAYC 0.82 factors with loadings of 0.78 and 0.88 respectively (Ordanini and
Customer 0.61 0.75 0.71 Parasuraman, 2011; Hoehle et al., 2012). In addition, personal
OPQ 0.79
SR 0.77
attention, politeness, willing to help, and quick response toward
customers are also the important factors with loadings of 0.85,
Note: AVE ¼average variance extracted, CR ¼composite reliability. 0.88, 0.86, and 0.86 respectively. These are the indicators of people

Table 4
Discriminant validity of latent constructs.

Constructs Product Price Place Promotion People Physical Evidence Process Customer

Product 0.82a
Price 0.11 0.80a
Place 0.12 0.21 0.83a
Promotion 0.20 0.20 0.24 0.81a
People 0.20 0.03 0.16 0.20 0.87a
Physical evidence 0.18 0.04 0.15 0.20 0.42 0.89a
Process 0.39 0.14 0.28 0.39 0.52 0.49 0.81a
Customer 0.26 0.12 0.28 0.25 0.36 0.39 0.45 0.78a

Note: aDiagonal elements are squared AVE; off-diagonal elements are the correlation between constructs.
92 G.S. Kushwaha, S.R. Agrawal / Journal of Retailing and Consumer Services 22 (2015) 85–95
(β ¼0.124) with small effect on customer compare to physical
evidence, process and place (Miles et al., 2012). Based on the prior
discussion, the hypothesised model was modified (Fig. 3) to
remove the ‘Ps’ which had no significant effect on customer.
6. Managerial implications
Indian banking industry has gone through the pre-independence,
post-independence, pre-nationalisation, nationalisation and post-
liberalisation stages (Shanker, 2002). Marketing was always consid-
ered not to be a banker's cup of tea. But today, it is considered to be an
integral management function in the banking sector. And if a bank is
functioning based on marketing tools and techniques, it simply means
that a bank's decisions are made through the eyes of the customers of
the bank (Lahteenmaki and Natti, 2013). As banks do not provide
tangible products, their managers need to put a lot of emphasis on
services marketing mix to acquire and retain the customers (Hoehle
et al., 2012). The study suggested that physical evidence, process, place
and people are the main services marketing mix elements in the
context of bank services (Iriana et al., 2013). Importantly, right
combination of services marketing elements can be used to create
stronger customer-firm relationships, as shown in the present study
(Karpen et al., 2012; Gronroos and Helle, 2012). All these are
important for banks because it helps customers to develop an image
of the bank. This can be achieved by attaching more importance to the
indicators of these ‘Ps’. Moreover, there is a dire need to improve
banking services with modern infrastructure (Zeithaml and Bitner,
1996) and advanced technology (Sohn and Tadisina, 2008), followed
by easy and smooth banking process (Chen and Chen, 2004; Zeithaml
et al., 2008), fast online (Colgate and Alexander, 1998; Ladhari and
Fig. 2. The Structural Model. Note: t-value in bracket under beta coefficient.
Table 5
Structural model estimates.
Path Coefficients (β) t-values
H1: Product-customer 0.096 1.939
H2: Price-customer 0.032 0.669
H3: Place-customer 0.147 3.017
H4: Promotion-customer 0.057 1.122
H5: People-customer 0.124 2.255
H6: Physical evidence-customer 0.195 3.627
H7: Process-customer 0.181 2.851
Note: np o0.05, based on two-tailed test; t ¼1.96.
Leclerc, 2013) and other services at customer's convenience (Tan and
Thompson, 2000; Zeithaml et al., 2008). A user-friendly image of the
bank can be built by its interior design with a comfortable seating
arrangement, pleasant lighting, temperature and cleanliness, compu-
ter systems with advanced technology and network connectivity, and
convenient and easy accessible counters (Lenka et al., 2010; Dabholkar
et al., 1996; Miles et al., 2012). Further, branch location and easy
availability of ATM machines should be considered in the view point
of customer convenience by the bankers (Levesque and McDougall,
1996; Oppewal and Vriens, 2000; Patrick et al., 2013; Hung et al.,
2012). The convenience of the location of branches of the bank and its
ATMs are the dominant criterion both for subsequent satisfaction and
selection of bank (Bahia and Nantel, 2000; McKechnie, 1992; Thwaites
and Vere, 1995). A large number of branches and ATMs at various
locations make the bank more approachable to the customers (Kranias
and Bourlessa, 2013). Banks should also encourage employees to
develop friendship and long-term relationship with customers (Bitner
et al., 1990; Crosby et al., 1990; Gronroos and Helle, 2012; Salloum and
Ajaka, 2013). It can be achieved by listening to what customer has to
say, pay personal attention to him. Especially, in the case of Indian
customers, they look for a personal attention in all their transaction
(Gupta and Dev, 2012). To have a close relation with customers, the
bank management has to ensure that core service is delivered on the
time with quick response (Amin et al., 2013). Because quick and timely
response is important for banking in order to create customer
satisfaction and loyalty (Beatty et al., 1996; Levesque and McDougall,
1996). It can also be helpful to handle the possible conflicts between
staff and customer. The banks must undertake strategies, such as
employees training to make them courteous, caring and responsive
(Tohidi and Jabbari, 2012, Fukey et al., 2014). The speed in service
delivery, courtesy and helpfulness of bank staff are the most critical
attributes that influence customers (Parasuraman et al., 1988; Vera
and Trujillo, 2013; Ahearne et al., 2012). In general, customers look for
an environment, where the employees listen to their problems and
show willingness to help them, and are polite to them (Levesque and
McDougall, 1996; Johnston, 1997; Michael and Mekoth, 2012; Tohidi
and Jabbari, 2012). Customers feel more satisfied when they get quick
response to their problems (Winstanley, 1997; Helm and Gritsch,
2014). Ultimately, the findings of the study indicated that the proper
implementation of right services marketing mix elements may be
helpful for banks to attract new customers and retain old customers
which results in higher sales, market share, and profits. Because
overall the banks are delivering the identical products, charges are
fixed and driven by marketplace. Thus, banker tends to differen-
tiate its firm from competitors through right services marketing mix
dimensions.
7. Limitations and future research directions
The study gauges the effect of ‘7Ps’ of services marketing mix
on Indian customer in the context of bank marketing. The
research, however, is subject to some limitations. The study results
p-value Tolerance VIF Results
0.053 0.845 1.183 Rejected
0.504 0.925 1.081 Rejected
0.003n 0.878 1.139 Accepted
0.262 0.812 1.232 Rejected
0.025n 0.690 1.449 Accepted
0.000n 0.725 1.380 Accepted
0.005n 0.515 1.943 Accepted
 G.S. Kushwaha, S.R. Agrawal / Journal of Retailing and Consumer Services 22 (2015) 85–95
Physical
Evidence
People Customer Process
Place
Fig. 3. Modified Model.
obtained by the convenience sampling method were difficult to
generalise to the population because it was a type of non-
probability sampling. A more representative sampling technique
needs to be considered in future research to generalise the
findings of the study. The current study was primarily a cross-
sectional due to time and cost constraints, although a longitudinal
study is recommended to monitor the evolution of customer
behaviour over time. It is important to note that the study is
limited to a sample size of 351 Indian customers. The larger
sample sizes with foreign customers residing and having bank
accounts in India can be considered by future researchers. The
scope of the study is also limited to the number of banks (15) in
the research. The application of the services marketing mix
elements identified in the study cannot be generalised as we have
taken only one industry (banking). To confirm its applicability in
other financial services like insurance, loans, share trading etc., the
same study should carry out in various other financial service
based firms. There is obviously opportunity for a similar study in
different geographic locations. Finally, the future research is
recommended to measure the effect of identified services market-
ing mix elements on bank performance. However, irrespective of
limitations, the current paper has contributed toward the existing
literature by demonstrating that identified services marketing mix
such as physical evidence, process, place, and people have the
positive and significant effect on Indian customer in the context of
banking services.
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