Investigating Marketing Communication Mix on Brand Performance Indicators: Evidence From the Financial Services Sector in Ghana

Abstract

In today’s world of business, an increased number of brands are competing in order to gain market share. As a result, companies’ promotion has become more significant in order to reach out to target customers. Effective financial service (FS) delivery is driven by the strategic application of each element of the marketing communication mix (MCM) in the organization. The population of this study was employees in Ghanaian organizations where the MCM tools are known to be frequently used and their customers. Confirmatory Factor Analysis (CFA) Fit Statistics for the Measurement and Structural Models were used. The first four models were the measurement models of MCM, brand quality, brand loyalty, and brand performance respectively. The fifth model is the structural model through which all relationships and hypotheses were tested simultaneously. The study finds that, the first four models did not produce a good fit because they failed to meet the following criteria: p-value > 0.05; RMSEA < .08; TLI > .90; GFI > .80; and AGFI > .90.