IIARD International Institute of Academic Research and Development

IIARD International Journal of Economics and Business Management (IJEBM )

E-ISSN 2489-0065
P-ISSN 2695-186X
VOL. 10 NO. 11 2024
DOI: 10.56201/ijebm.v10.no11.2024.pg190.207

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Service Differentiation Strategies as A Correlate With Customer Base of Keystone Bank Plc

OGUH Festus A. (Ph.D) & UDUEHI Benson O.

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Abstract

This study investigates the relationship between service differentiation strategies and customer base of Keystone Bank PLC in Nigeria. Service differentiation, encompassing market differentiation and process differentiation, is crucial for banks to stand out in a competitive market. The research aims to determine the extent to which these strategies contribute to customer acquisition and retention. Through a descriptive survey design, data was collected from employees at Keystone Bank PLC. Correlation analysis using Pearson Product Moment Correlation was used to measure the strength and the direction of the relationship between the variables under investigation The findings indicate a positive correlation between service differentiation strategies and customer base expansion. The bank's focus on market segmentation, innovative product offerings, and effective customer service has positively influenced its customer base. The study concludes that by continuing to prioritize service differentiation, Keystone Bank PLC can further solidify its position in the Nigerian banking market and achieve sustainable growth.

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