AN EXAMINATION OF APPLICATION OF THE MARKETING CONCEPT IN THE BANKING INDUSTRY IN SELECTED BANKS IN NIGERIA
ABSTRACT
The need for marketing in banking was not recognized because
for a very long time, banking was a seller’s market while most
customers had the impression that they were privileged to enjoy
the services of a bank. In addition, bankers have traditionally
been bank-oriented (or service oriented), and only in recent years
have they become customer-oriented. Based on the literature, the
study conducted to examine how the commercial banks
understand and apply the marketing concept in their operations.
It also attempted to uncover the differences in the application of
the concept to service and tangible products. The findings of this
study through the administration of questionnaire and oral
interviews of some management staff of two commercial banks
showed that only a few of them understood what was meant by
the marketing concept. The research further revealed that
banking industry applied the marketing concept in the operations
in terms of researching into customer needs, and consulting them
in decision marking. However, the customers were not normally
consulted in taking decision relating to the 4Ps of marketing. In
the light of the findings, a number of recommendations were
made. That the banks should establish a marketing department
for the performance of their marketing functions, that an
aggressive search for customers be embarked upon through
personal selling, computerization of their operations, especially the
urban branches where they have more customers, etc.
TABLE OF CONTENT
Title page- – – – – – – – – i
Approval page – – – – – – – -ii
Dedication – – – – – – – – -iii
Acknowledgement – – – – – – – -iv
Abstract – – – – – – – – – -v
Table of content – – – – – – – -vi
CHAPTER ONE
INTRODUCTION – – – – – – – -1
1.0 Background of the study – – – – -1
1.1 Statement of the problem – – – – -5
1.2 Purpose of the study – – – – – -6
1.3 Significance of the study – – – – -8
1.4 Research questions – – – – – -9
1.5 Scope of the study – – – – – – -10
CHAPTER TWO
LITERATURE REVIEW – – – – – – -11
CHAPTER THREE
Research methodology – – – – – – -39
Design of study – – – – – – – -40
CHAPTER FOUR
Presentation, analysis and interpretation of data – -48
CHAPTER FIVE
Summary of findings – – – – – – -60
Conclusion – – – – – – – – -61
Recommendations – – – – – – – -62
Suggestions for further research – – – – -64
References – – – – – – – – -65
Appendix I – – – – — – – – -68
Questionnaire. – – – – – – – -69
AN EXAMINATION OF APPLICATION OF THE MARKETING CONCEPT IN THE BANKING INDUSTRY IN SELECTED BANKS IN NIGERIA
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