Relationship Between Customer Satisfaction and Services of Marketing 7 Ps: A Study Conducted on Sri Lanka Insurance Corporation

Abstract

Introduction: This research has a main purpose of studying how the 7Ps of service marketing mix affect customer satisfaction focusing on examining this relationship in the context of Sri Lanka Insurance Corporation. Design/Methodology/Approach: The approach for the study was ‘quantitative’ and the author adopted the ‘survey strategy’ to collect primary data from the selected sample of 100 SLIC customers. A questionnaire that covered both demographic aspects and variable aspects was designed by the author. The questionnaire comprised 28 statements designed according to the five-point Likert scale method. According to the literature, seven elements of the service marketing mix namely, product, price, place, promotion, physical evidence, people, and process were identified as independent variables. Findings: According to the statistical analysis conducted, only product, place, people, and process have shown a significant relationship to customer satisfaction. Price, promotion, and physical evidence were rejected by the analysis. Therefore, at SLIC, customer satisfaction is mainly affected by product, place, people, and process elements. Conclusions: The customer satisfaction of SLIC customers are mainly influenced by the features of the products offered, branch network, employee attributes and operational procedures. Hence it is advisable to enhance the productivity and user-friendliness of those elements.