Influence of holistic marketing strategy on business performance of service firms

Abstract

This article examines the influence of holistic marketing strategy on business performance with special reference to the selected service sectors namely: banking sector, education sector and IT sector located in Kerala, India. The descriptive and analytical research designs were used in this study. Demographic and primary data were obtained through interview and from questionnaire administered to one hundred and fifty (150) respondents made up of operators, customers and staff of three service sectors through simple random sampling method. Pilot survey and Cronbach’s Alpha were used to confirm the validity and reliability of the study respectively and their variables of measures. Correlation analysis, multiple regression analysis Multicollinearity test and SEM analysis were used to analyze the data with the aid of statistical package for social sciences (SPSS) version 20 and AMOS. The results show that the independent variables (i.e Social Responsibility Marketing, Internal Marketing, Relationship Marketing and Integrated Marketing) were significant joint predictors of business performance( R2=.630). Subsequently, recommendation were made to service sector firms should adopt holistic marketing strategy concepts in order to satisfy customers and sustain firms’ profitability locally and globally.