THE ROLE OF MARKETING IN THE CONSOLIDATED BANKING SECTOR
(A case study of Union Bank of Nigeria Plc, Kaduna)
Download our android mobile app for more materials
COMPLETE PROJECT MATERIAL COST #3000 NAIRA
ORDER NOW
Account Name : Chi E-Concept Int’l
ACCOUNT NUMBER: 0115939447
Account Name: Chi E-Concept Int’l
Account Name: 3059320631
We also accept : ATM transfer , online money transfer
OR
PAY ONLINE USING YOUR ATM CARD. IT IS SECURED AND RELIABLE.
form>
Call Help Desk Line : 08074466939,08063386834.
After Payment Send Your Payment Details To
08074466939 Or 08063386834, The Project Title You Selected On Our Website , Amount Paid, Depositor Name, Your Email Address, Payment Date. You Will Receive Your Material In Less Than 1 Hour Once We Confirm Your Payment.
WE HAVE SECURITY IN OUR BUSINESS.
MONEY BACK GUARANTEE
You may also need: web design company in Nigeria
ABSTRACT
This project is undertaken to observe the role of marketing in the consolidated banking sector. Kotler defined marketing as a social process by which individual and groups by which individual and groups obtain what they want through creating and exchange of products. The banking sector approach to marketing includes identification of customer‘s financial needs, advertise and promote the services to existing and prospective customers among their The role of marketing in banking industry includes creation of awareness, stimulating purchases, decision making among others. The marketing concept and it approach & according to Mac Daniel (1979), are goal oriented, customer oriented and system oriented. In customer oriented, Kotler requires the company to carefully define customer needs from customer point of view.
TABLE OF CONTENT
CHAPTER ONE: INTRODUCTION
1.0 Brief Background of the study
1.1 Objectives of the study
1.2 Significance of the study
1.3 Scope of the study
1.4 Limitation of the study
CHAPTER TWO
Introduction 6
1 Marketing define 6
2 Marketing Approach to Banking sector 10
.3 The role of marketing in the Banking industry 15
.4 The marketing concept and its approach in commercial Banking 21
.5 Customer Oriented 28
CHAPTER THREE
3.0 Research Methodology – – – – – – – 18
3.1 Introduction – – – – – – – – – 18
3.2 Population and Sample size – – – – – – 18
3.3 Sampling Technique – – – – – – – – 18
3.4 Source and Method of Data Collection – – – – – 19
3.5 Method of Data Analysis – – – – – – – 19
3.6 Justification for the choice – – – – – – – 20
CHAPTER FOUR:
4.0 Data presentation analysis and interpretation – – – – 21
4.1 Introduction – – – – – – – – – 21
4.2 Data presentation and analysis – – – – – – 21
4.3 Testing of hypothesis – – – – – – – 28
4.4 Summary of findings – – – – – – – – 28
CHAPTER FIVE: Summary of findings, conclusion and recommendations
5.0 Introduction – – – – – – – – – 30
5.1 Summary – – – – – – – – – 30
5.2 Conclusion – – – – – – – – – 31
5.3 Recommendations – – – – – – – – – 31
5.4 Limitations of the study – – – – – – – 32
References – – – – – – – – – 33
Appendix – – – – – – – – – 34
CHAPTER ONE
INTRODUCTION
1.1 Brief Background of the Essay
Marketing is a social phenomena and great stimulus for economic progress of most societies in the world. Marketing practice makes improvement productivity possible and gives the society the improve standard of living that is required for dynamic society. Every organization whether it’s a product or a services oriented needs marketing strategy for its products or services to be existing and potential customers in other generate more revenue, make profit and remain in business.
The role of marketing in the Nigerian banking industry is relatively new. However, the need for marketing in bank stem for intense competition, not only from other banks, but also from their financial institutions. It involves the practice in the banking’ industries has brought a lot of improvement to the banking sector of our economy in terms of customer satisfaction, increase revenue generation, profitability and efficient management. The word is dynamic where change is constant on a daily bases.
Therefore marketers are forced with a constantly changing environment with its attendant challenges of the needs of the customer, thereby necessitating the designing of innovative beautiful ideas and service to meet these challenges. Consequently, in order for the banks to remain viable, they keep on introducing new products and service. The success of a bank depends largely on her ability to satisfy the financial needs of the customers. Successful marketing actions are the result of management information and of applied common sense. Prosperous marketing companies or banks are those that think positively about their business environment, so developing an organization capable of seeking profitable opportunities, recognizing potentials and new product development which is a service industry. Its product cannot be touched or felt. smelt, heard tasted, and seen before purchase.
These features distinguish work hard since the service includes intangibility, imperishability and lack of ownership or title transfer. Having a good knowledge helps the bank staff to perform excellently in the range of services they offered to their numerous customers.
The role of marketing in the banking industry ntai1s the use of the marketing mix strategies known as 4 pieces namely, product (services) price, place and promotion and other strategy of marketing bank services to their customers.
1.2 Statement of Problems
In Nigeria today producers and manufacturers use various media in the marketing of their goods and services in order to communicate ideas and information to groups of people in order to change or reinforce a behaviour.
Opinion is divided that amarketing has a remarkable impact on the behaviour of consumer because buyers are informed and educated about company’s offering, thereby guiding them in making a wise decision.
While another group is of the opinion that marketing is exaggerating and useful leading to low appraised of the social value of marketing. This research seeks to answer these problems and offer useful suggestion for improvement. It is very difficult to measure the effectiveness of marketing. One problem is our inability to identify the result of any given marketing or campaign. By the nature of the marketing mix, all elements including marketing are so entertained that measurement of any one by it self is impossible many factors besides marketing influence sales success. Essentially, there are only two parts to marketing i.e. what is said and how it is said. There is the problem of inadequate qualified marketing companies to handle marketing effectively and efficiently as requires by the clients. Some organizations do not recognize the importance of marketing relegated its importance to the background and by not making any budgetary allocation to it. Marketing in Nigeria exaggerates, misrepresents the abilities of products or services (Russel T. Rusell J.T, 2006)
Finally, another problem observed with some company marketing is choosing the medium that will appeal to the generality of the entire population. Companies concentrate most of their marketing on television to radio. However, this does not go well with some segment of the consumers in the society particularly the rural dwellers common medium is the radio.