| Title |
Internal marketing strategies in a Lithuanian financial institution / |
| Authors |
Zostautiene, Daiva ; Dubraitė Manaikaitė, Justina ; Susniene, Dalia |
| DOI |
10.5171/2024.407934 |
| Full Text |
|
| Is Part of |
IBIMA Business review.. IBIMA publishing. 2024, vol. 2024, art. no. 407934, p. 1-8.. ISSN 1947-3788. eISSN 1947-3788 |
| Keywords [eng] |
internal marketing ; internal product ; internal price ; internal place ; internal promotion |
| Abstract [eng] |
The concept of “internal marketing” has attracted significant attention from researchers. Despite extensive studies on the topic, it remains partially understood, as while attention to external customers is critical, the importance of internal customers—an organization’s employees—cannot be overlooked. The development of internal marketing within the organization plays a crucial role in gaining a competitive edge in the market. The goal of internal marketing is to engage employees by prioritizing internal initiatives that need to be developed, sustained, and promoted. This fosters business growth and enhances the company’s competitiveness. Different studies show that employees’ positive perceptions of internal marketing practices lead to beneficial outcomes. Analysing the components of internal marketing can provide insights into how strategies can be customized for different regions and industries, ultimately leading to more effective internal marketing approaches. Literature reviews indicate that internal marketing serves as a human resource management tool that fosters employee satisfaction and alignment with external customer needs. The authors closely examine the contemporary role of internal marketing strategies and their implementation in a Lithuanian financial institution through an enhanced framework of marketing elements and thus throwing some light on how these strategies impact employee engagement. Empirical research, based on structured interviews within the institution, reveals that the internal pricing element is the lowest rated, while other elements need further strengthening due to differing opinions from managers and employees. Enhancing internal marketing strategies can significantly boost employee engagement, satisfaction, and performance, which in turn positively affects external customer satisfaction. |
| Published |
IBIMA publishing |
| Type |
Journal article |
| Language |
English |
| Publication date |
2024 |
| CC license |
|
