Project Topic:
MARKETING INFORMATION SYSTEM AND MARKETING PERFORMANCE OF FIRST BANK NIGERIA PLC IN RIVERS STATE
ABSTRACT
The study was determined to examine the effect of marketing information system and the performance of First Bank Nigeria PLC in Rivers State. The judgmental sampling technique which is a non-probability sampling technique was used for selecting the sample. The sample size of this study is judgmental sample of 44 respondents which comprise of both the senior and junior staffs of First Bank Nigeria, PLC Garrison and Market Junction. In this study both the primary and secondary data were used. The data collected were processed electronically using Statistical Packages for Social Sciences (SPSS).The statistical test used in the analysis of the data collected was Chi-Square statistical tool. Finding amongst others reveal that there is a significant relationship between marketing research system and the performance of First Bank Nigeria PLC in Rivers State. Based on the finding of the study we recommended that attention should be given to their marketing mix (price, promotion, place and product) effective distribution of quality products are very paramount in insurance product marketing and apart from the sales representatives and internal records as means (sources) of information adopted by the firms there are other methods they can also adopt which will make their marketing information system more effective.
TABLE OF CONTENTS
TITLE PAGE i
COVER PAGE ii
DECLARATION iii
CERTIFICATION iv
DEDICATION v
ACKNOWLEDGEMENTS vi
ABSTRACT vii
TABLE OF CONTENTS viii
CHAPTER ONE 1
INTRODUCTION 1
1.1 BACKGROUND OF THE STUDY 1
1.2 STATEMENT OF THE PROBLEM 3
1.3 OBJECTIVES OF THE STUDY 3
1.4 RESEARCH QUESTION 4
1.5 RESEARCH HYPOTHESIS 4
1.6 SIGNIFICANCE OF THE STUDY 5
1.7 SCOPE OF THE STUDY 5
1.8 LIMITATION OF THE STUDY 6
1.9 DEFINITION OF TERMS 6
CHAPTER TWO 8
REVIEW OF RELATED EMPIRICAL REVIEW 8
2.1 INTRODUCTION 8
2.2 CONCEPTUAL FRAMEWORK 8
2.2.1 CONCEPT OF MARKETING INFORMATION SYSTEM 9
2.2.2 DIMENSIONS OF MARKETING INFORMATION SYSTEM 13
2.2.3 OBJECTIVES OF MARKETING INFORMATION SYSTEM 14
2.2.4 FUNCTIONS OF MARKETING INFORMATION SYSTEM 16
2.2.5 LIMITATIONS TO MARKETING INFORMATION SYSTEM 17
2.2.6 CONCEPT OF PERFORMANCE 18
2.2.7 MEASURES OF PERFORMANCE 19
2.3 THEORETICAL FRAMEWORK 23
2.3.1 INFORMATION THEORY 23
2.4 REVIEW OF RELATED EMPIRICAL STUDIES 23
2.5 SUMMARY OF LITERATURE REVIEW 25
CHAPTER THREE 26
RESEARCH METHODOLOGY 26
3.1 INTRODUCTION 26
3.2 RESEARCH DESIGN 26
3.3 POPULATION OF THE STUDY 26
3.4 SAMPLING TECHNIQUES USED 27
3.5 SAMPLE SIZE 27
3.6 SOURCE OF DATA 27
3.6.1 PRIMARY SOURCE (S) OF DATA 27
3.6.2 SECONDARY SOURCE OF DATA 27
3.7 RESEARCH INSTRUMENT FOR DATA COLLECTION 27
3.8 VALIDITY AND RELIABILITY OF INSTRUMENT 28
3.9 TECHNIQUES FOR DATA ANALYSIS 28
CHAPTER FOUR 29
DATA PRESENTATION AND ANALYSIS 29
4.1 INTRODUCTION 29
4.2 PRESENTATION OF QUESTION/ITEMS IN THE QUESTIONNAIRE AND ANALYSIS OF RESPONSES 29
4.3 HYPOTHESES TESTING 31
4.4 DISCUSSION OF FINDINGS 36
CHAPTER FIVE 40
SUMMARY, CONCLUSION AND RECOMMENDATION 40
5.1 INTRODUCTION 40
5.1 SUMMARY 40
5.2 CONCLUSION 41
5.3 RECOMMENDATIONS 41
REFERENCES 43
APPENDIX I 45
APPENDIX II 46
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
In carrying out Marketing Analysis, Evaluation and Distribution, Marketing Managers need timely and accurate information about customers, competitions, dealers and other forces in the market place. Marion Herper says that “to manage a business well is to manage its future and to manage the future is to manage information”. (Kolter G. 1988).
During the past century, most companies were small and knew their customers first hand, managers pick up marketing information by standing around people observing them and asking them questions. In this present century, many factors have increased the need for more and better information management. As companies expand into national and international markets, they need more information on large and more distant markets.
As income increases and customers become more selective, managers need better information about how customers behave to different products. Marketing managers need information on the effectiveness of their marketing tools. In today’s rapidly changing environments, managers need much better up- to-date information to make timely decision.
Marketing Information System (MIS) begins and ends with the marketing managers to assess their information needs and also develop the needed information from internal company records, marketing intelligence activities and marketing research process. In addition, the marketing information system distributes information to managers in the right form and at the right time to help them in marketing planning, implementation and control (Lancaster, k. 1993).
By accessing information needs, a good marketing information system balances the information managers would like to have against what they really need and what is feasible to offer. Sometimes MIS cannot supply all the information managers are requesting for. MIS must therefore, watch the marketing environment and provide decision makers with information they should have to make key marketing decisions. More so, developing information is required for making day to day planning, implementation and control decision. The development of information is subdivided into three (3): Internal Records (Report), Marketing Intelligence and Marketing Research.
In insurance, the insurance policy is a contract (generally a standard form of contract). This contract is between two parties (The insured and the Insurer), The insured also known as the policy holder, which determines the claims which the insurer is legally required to pay, in exchange for payment, known as the premium the insurer pays for damages to the insured which are caused by covered perils under the policy language. Insurance contract are designed to meet specific needs and thus have many features not found in many other types of contracts.
The insurance contract is contract is a contract whereby the insurer will pay the insured (the person whom benefits would be paid to, or on the behalf of) if certain defined events occurs. (Golier, 2003).
Most companies of today are faced with the problem of declining level of sales. Therefore, marketing information system as related to the marketing of bank services is intended to improve the general level of awareness of insurance about insurance product and services. The study seeks to examine the relationship between marketing information system and the performance of First Bank Nigeria PLC in Rivers State.
1.2 STATEMENT OF THE PROBLEM
Paramount problem about to the decline in the level of sales in most Banks in Nigeria is due to insufficient marketing information system. This situation led the researcher to undertake a research work to know how to improve the standard of marketing information system, and to know the roles that could be played by the marketing information system in enhancing of bank services in Nigeria. The problem to be examined here is: How marketing of First Bank Nigeria PLC could be improved and maintained with the MIS. The study is determined to examine the relationship between marketing information system and the performance of First Bank Nigeria PLC in Rivers State.
1.3 OBJECTIVES OF THE STUDY
The main objective of the study is to examine the effect of marketing information system and the performance of First Bank Nigeria PLC in Rivers State. The specific objectives are as follows:
To examine the extent to which internal records system associate with the performance of First Bank Nigeria PLC in Rivers State.
To examine the extent to which marketing intelligence system associate with the performance of First Bank Nigeria PLC in Rivers State.
To examine the extent to which marketing decision system associate with the performance of First Bank Nigeria PLC in Rivers State.
To examine the extent to which marketing research system associate with the performance of First Bank Nigeria PLC in Rivers State.
1.4 RESEARCH QUESTION
Based on the objectives of the study, the following research questions shall be used to guide the study.
To what extent does internal records system associate with the performance of First Bank Nigeria PLC in Rivers State?
To what extent does marketing intelligence system associate with the performance of First Bank Nigeria PLC in Rivers State?
To what extent does marketing decision system associate with the performance of First Bank Nigeria PLC in Rivers State?
To what extent does marketing research system associate with the performance of First Bank Nigeria PLC in Rivers State?
1.5 RESEARCH HYPOTHESIS
The following hypotheses were postulated to guide the study.
HO1: There is no significant relationship between internal records system and the performance of First Bank Nigeria PLC in Rivers State.
HO2: There is no significant relationship between marketing intelligence system and the performance of First Bank Nigeria PLC in Rivers State.
HO3: There is no significant relationship between marketing decision system and the performance of First Bank Nigeria PLC in Rivers State.
HO4: There is no significant relationship between marketing research system and the performance of First Bank Nigeria PLC in Rivers State.
1.6 SIGNIFICANCE OF THE STUDY
The significance of this study cannot be over emphasized as it will assist insurance organization embarking on marketing information system in establishing a well rooted company through the enhancement of sales.
Secondly, other companies would make diligent reference to this work and it will enable them to meet up with contemporary marketing information system that will improve their level of sales.
1.7 SCOPE OF THE STUDY
The study is delimited under the following heading: content scope, geographical scope and unit of analysis.
Content Scope: The content scope of this study involves an investigation to ascertain the relationship between marketing information system and marketing performance. The dependent variable is performance, measured by increase sales, market share and profitability. While independent variable is marketing information system measured by internal record system, marketing intelligence system, marketing decision system and marketing research system.
Geographical Scope: The geographical scope of the study is limited First Bank Nigeria PLC in Rivers State with reference to Garrison and Market Junction Branch.
Unit of Analysis: The unit of analysis in this research involves both senior and junior staff of limited First Bank Nigeria PLC in Rivers State.
1.8 LIMITATION OF THE STUDY
The study is limited to the following limitations:
The level of frankness in response to questions by the respondents is quite doubtful.
Finance: Accessing fund for the research work as difficult and this to a great extent limited the quality of research activity.
Time: The time allocated to the research work was not sufficient to give room for further intensive work on the field of study.
Organization Policy: Policies of the organization limited the level of information received. The personnel of the firms were not willing to give information, stating that it was against the organization’s policy.
1.9 DEFINITION OF TERMS
The researcher took the pains in giving the definitions of some uncommon terms used in this study; this is done in order to make it possible for the project work to have the full knowledge of marketing information system.
The following are some of the related terms used in the study:
Marketing: Marketing is a set of activities that facilitates the exchange of transaction involving “Economic goods and services,” for the ultimate purpose of satisfying human needs.
Information: Information is an acquired knowledge that has meaning. In most cases, information elicited some sort of reaction or responses on the part of the receiver.
Marketing Research: This may be defined as the objective and systematic collection, recording, analysing interpretation and reporting of information about existing or potential market, marketing strategies and tactics, and the interaction between market, marketing methods and current or potential products or services.
Insurance Policy: In insurance, the insurance policy is a contract (generally a standard form of contract). This contract is between two parties (The insured and the Insurer), The insured also known as the policy holder, which determines the claims which the insurer is legally required to pay, in exchange for payment, known as the premium the insurer pays for damages to the insured which are caused by covered perils under the policy language.
Marketing Information System (MIS): Is the structure of people, equipment, and procedure to gather, sort, analyse, evaluate and distribute too needed, timely and accurate information to marketing decision makers
INSTRUCTIONS AFTER PAYMENT
- 1.Your Full name
- 2. Your Active Email Address
- 3. Your Phone Number
- 4. Amount Paid
- 5. Project Topic
- 6. Location you made payment from