Abstract:

The study sought to investigate whether customer training in new product release will have an effect on customer loyalty. In this paper, we identify a wide-spread problem that confronts most bank customers through interviews and interactions with regards to using newly released products of the banks in Ghana. We sampled sixteen banks out of the thirty banks in Ghana using simple stratification and used simple random sampling to select 278 customers from the selected banks. Also, we interviewed 45 bank managers out of a target population of ninety (90). The models used were Pearson correlation coefficient to determine the strength of relationship between variables and linear regression to predict the effect of training customers in new product release on customer loyalty. The results show that customer training in new product enhances product usage, improves customer satisfaction, and impact positively on customer loyalty. We also suggest a training model and product satisfaction model to maximize the patronage of the new product.

Keywords: New product release, training, effect, customers, customer loyalty.

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