This study examined the impact of four innovation process types—organizational, product, process, and marketing—on the market share of universal banking services in Ghana. Data were collected from 100 managers across four universal banks, with respondents categorized by managerial roles for deeper analysis. Structural equation modeling was employed to test hypotheses, generating path coefficients, t-statistics, and p-values. The findings highlight process, product, and marketing innovations as significant drivers of market share, with process innovation emerging as the most influential factor. Marketing and product innovations follow in importance, while organizational innovation shows a comparatively limited impact. This quantified hierarchy provides a clear understanding of the relative significance of each innovation type within Ghana’s banking sector. The study offers actionable insights for strategic decision-making, resource allocation, and policy formulation, helping stakeholders enhance market share and overall performance. By shedding light on the specific innovation processes that drive success, the research equips practitioners with tools to better meet evolving customer needs and gain a competitive edge in Ghana’s dynamic banking landscape. Additionally, addressing the challenges of organizational innovation remains crucial for maximizing its potential impact. This research contributes to the existing body of knowledge and lays a foundation for future studies to further optimize innovation strategies in the banking industry.
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