The Application of Marketing Concept in Banking Industry (A Study of Uba Plc Warri)

ABSTRACT

The banking industry is undergoing a period of transformation and this requires new orientation on the part of banks. In this new competitive environment, banks have to re-think in their total marketing strategies and come to terms with the necessity for marketing of services. The objectives of this study is to determine if the bankers are effectively customer oriented to meet the challenges posed by the changing environment and to determine the marketing philosophy or orientation of the banks (represented by their employees) vis -  a – vis current happening in the industry in course of the literature review five distinct marketing philosophies were identified. The marketing philosophies of banks are represented by their employees and customers were found not to be effectively customer oriented. The conclusion of the study is that marketing concept is not effectively practiced by banks. The hypothesis is that the marketing concept orientation in bank is dependent on their marketing training environmental factors , such as competition in banking, government policy, technology in banking, legal provision, banking culture,  client behavior and the bank present marketing concept is bad and could not be disproved, thus they were accepted. Recommended strategies for introducing and establishing marketing task force and getting managing directors of chief executives, that is market oriented to initiate the move. The argument for a marketing orientation has to be close to it customer in order to identify their whole organization towards satisfying them better than their competitors.

 

 

TABLE OF CONTENTS

Title…………………………………………………………………………………i

Approval …………………………………………………………………………..ii Dedication ………………………………………………………………………..iii

Acknowledgements………………………………………………………………iv

Abstract……………………………………………………………………………v

Table of Content………………………………………………………………….vi

CHAPTER ONE: INTRODUCTION

1.1        Background of the Study…………………………………………………1

1.2        Statement of the Problem…………………………..…………………….4

1.3        Objective of the Study…………………………………………………….4

1.4        Significance of the Study…………………………………………………5

1.5        Scope of the Problem……………………………………………………..6

1.6        Research Question………………………………………………………..6

1.7        Limitation…………………………………………………………………...7

1.8        Definition of Terms…………………………………………..……………8

CHAPTER TWO: LITERATURE REVIEW

2.1    Definition of Marketing…………………………………………………..10

2.2    Company Orientation towards the Market Place….…………………11

2.3    Marketing of Service……………………………………………………..14

2.4    Managing Service Quality……………………………………………....16

2.5    Marketing of Bank Services……………………………………..……...17

2.6    Bank Marketing in Nigeria……………………………………………….20

2.7    Marketing Approach to Banking Services……………………..………21

2.8    Marketing and the four P’s………………………………………………23

2.9    The need for Marketing Training………………………………………26

2.10  Summary…………………………………………………………………31

Chapter three: RESEARCH METHODOLOGY

3.1    Research Design ………………………………………………………..33

3.2    Population of Sample…………………..……………………………….34

3.3    Sample and Sampling…………………………………………..………34

3.4    Data Collection Instrument……………………..………………………34

3.5    Method of Analysis……………………………………………………….36

CHAPTER FOUR: DATA PRESENTATION, INTERPRETATION

AND ANALYSIS

4.1    Introduction……………………………………………………………….37

4.2    Result of Banker’s Questionnaire………………………………………37

4.3    Result of Customer’s Questionnaire ………………………………..…46

CHAPTER FIVE: SUMMARY OF FINDING, CONCLUSION

RECOMMENDATIONS

5.1    Summary of Findings…………………………………………..……….50

5.2    Conclusion...……………………..………………………………………51

5.3    Recommendation of the Study………………..…………………….…53

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