THE EFFECT OF MARKETING MIX STRATEGIES ON ADOPTION OF INTERNET BANKING IN COMMERCIAL BANKS :THE CASE OF COMMERCIAL BANKS IN DAR ES SALAAM, TANZANIA

Abstract

The objective of the paper was to find out the impact of the adoption of internet banking technology on the marketing mix strategies in Dare es Salaam commercial banks in Tanzania.Both quantitative and qualitative research methods were applied. The study comprised of the sample of 150 respondents, where, 100 were external customers and 50 internal customers/ employees from 3 respective commercial Banks , namely CRDB Bank Limited,NBC Bank Limited and NMB Bank Limited . Promotional efforts of internet banking products was found to be important factors on encouraging customers adoption of internet banking, and quality of internet banking products and services were found to be the limiting factors in adoption of internet banking.In determining the significance of the Marketing mix elements in the adoption of internet banking, neither of the marketing mix elements was found to be significant. Therefore commercial banks in Dar es alaam,needs to improve their product planning strategies on effective use of the marketing mix strategies. There is a need of internet products to be market driven, accompanied by increasing the promotional effort. Training of employees on effective customer care and delivery should be emphasized. This will ensure that customers gets the internet products timely and adequately.