The Relevance of Marketing to the Banking Industry (A Case Study of UBA Plc)

CHAPTER ONE

INTRODUCTION

1.1        BACKGROUND TO THE STUDY

In the early age of banking in Nigerian, bank paid little or no attention to marketing of their services but due to the development and new tend in the banking industry.

It has been noted that there is new competition going on between various bank especially the commercial banks on how to make their service especially their lastest service acceptable to the customers.

However, in order to meet up with the new development in banking industry, it is very important for the bank to include moderns marketing techniques in putting forward their services to their customers.

Moreover, according to chartered institute of marketing, marketing is also defined as the management process responsible for identifying anticipating and satisfying customer’s requirement profitable.

Furthermore F.O. Peter (1958)m also views marketing as an orderly, purposely and create need wants and creative capacity and skill of an industrial society toward the design of new and better product and new distribute concept and process, while banking service can be defined as the broad spectrum of service that will normally be available and also offered customer by any given financial ( banking) institution with the aim of satisfied the need of the customer profitable.  This definition varies from institution to another. Marketing of banking service therefore fall within the specialized of services and services marketing provides wants satisfied that are not necessary tired to sales products. This therefore gives us a strong introduction as to the banking sector in Nigeria and three bank includes commercial bank e.g United Banks for Africa (UBA) Nigeria Plc.  The project work is aimed at reaveling the need for the marketing service in banking industry in Nigeria banking service.