Does Market Orientation Impact Customer Satisfaction? Evidence from the Banking Industry in Uganda

Abstract

Market orientation is considered a strategy designed to creating greater value for customers. This requires designing marketing strategies to better satisfy customers’ needs. However, very few business organizations in Uganda have adopted market orientation, particularly the banking industry. Some commercial banks’ customers continue to express their dissatisfaction over the quality of service delivered by some banks to meet their desires. Although scholars have developed interest in market orientation and customer satisfaction, academic and empirical studies particularly in Uganda are insufficient. This paper is intended to establish the correlation between market orientation and customer satisfaction in the banking industry. Data from 175 personal and corporate banking customers of Stanbic Bank Uganda Ltd was collected using a structured, self-administered questionnaire. The findings of this study reveal a substantial effect of market orientation on customer satisfaction.