The Impact of Digitalization on the Marketing Mix, Leading to Customer Satisfaction and Brand Loyalty in Banks of Palestine

Banks constitute the backbone of the modern economies, as they are the portfolios that attracts cash surplus from the market for a predetermined interest, to lend it at a higher rate that achieves profitability for the shareholders. Besides, a system of interlocking financial services that is increasingly complex to serve all segments of society. Digitalization has reshaped business competition, including the financial and banking services markets, that has put commercial banks in front of great challenges. Thus, tailoring modern solutions to attract different clients segments has become a fundamental necessity for growth and expansion. However, rapid professional progress over the last few decades has affected the work environment, banking sector standards, and forced banks to diversify and innovate their services. Banking service delivers a solution for the client. This solution is a combination of several elements known as the marketing mix. Marketing in the digital era is different from the past, and when marketing has been reflecting the demands of a market, a new paradigm emerged by Lauterborn (1990 4'c) (customer solution, customer cost, communication, convenience) to keep pace with these giant shifts in the business world (Jarad, 2020). This study aimed to investigate the impact of digitalization on the marketing mix of Palestinian banks. Besides, it examined the mediating role of the customer satisfaction and brand loyalty between Digitalization and the marketing mix in Palestine. The research was designed based on the quantitative approach. For collecting the data, a well-designed Google form questionnaire was distributed to more than 150 participants. The responses were analyzed via using the Statistical Package for Social Sciences (SPSS) version 22. The study revealed a number of results such as the digitalization is crucial in enhancing the concept of brand loyalty and customer satisfaction in Palestinian banks. It also found that the marketing mix is important in increasing the perspectives of brand loyalty and customer satisfaction. Finally, the study provided different implications considering the impact of the digitalization on the marketing mix of the banks.