• The Complete Research Material is averagely 52 pages long and it is in Ms Word Format, it has 1-5 Chapters.
  • Major Attributes are Abstract, All Chapters, Figures, Appendix, References.
  • Study Level: BTech, BSc, BEng, BA, HND, ND or NCE.
  • Full Access Fee: ₦6,000

Get the complete project » Delivery Within 34-48hrs

CHAPTER ONE

1.1   BACKGROUND OF THE STUDY

        Financial institutions plays a significant role in the economy of every country in the world.

        They offer a large and ever expanding number of products and services to the public and private sector such as long and short term loans, annuities, saving accounts, mortgages financial advice and other financial services.

        Presently, more innovation services and with more competition in the banking industry, advertising has become much more common and it is so vital for banks looking to service in a tough market.

        With GT bank Nigeria Plc as a case study, one of the main jobs for a banking executive today is to identify who their target market are and to market services that will appeal to their segment. Part of identifying the target market is determining the age, race and ethnic makeup of the main customer and designing a campaign that will appeal to that group of people.

        If the target market for example is young married couple, a good marketing campaign may be introduced which will involve long term saving programmes, college funds for any children they may have and loans for building a structure (home) so also loans for cars.

        GT bank Nigeria Plc and some other banks are getting more services about market it shows. The trend is expected to continue as banks add or introduce more service in attempt to accrue more returns on their money.

        This study is aimed at finding out whether GT bank Nigeria Plc is wholly or partially marketing oriented in their management philosophy.

        The implication of not adopting marketing philosophy if this research states will be explored.

        Factors that guide organization in being marketing oriented will be highlighted. In a competitive place, effective marketing can be the difference between success and failures.

1.2   STATEMENT OF THE PROBLEM

        With the increase in the enlighten eat population, financial enlighten, financial activist and experience, knowledge of bank activities on the increase as well. Many people are getting aware of their right, unlike before banks customers are becoming more rational and critical in the way they are being handled or attended to, and also on the  other hand, banks as business concerned ought to know how well they survive and continue existing, succeed or fail depend on how well their customers are being treated and handled.

        A look into the Nigeria marketing concept shows that banks should endeavour to satisfy their customers. Instead the banking industries seems not to operate from the angle of the customers. Hence the banking industry in Nigeria does not appreciate the fact that they ought to be customers oriented.

This leave us with the problem of study in a question;

        What is the role of marketing in Nigeria banking industry?

1.3   OBJECTIVE OF THE STUDY

        The objective of the study are;

1.  To bring about a deeper understanding and insight into the practices of relationship marketing and customer retention by banks in Nigeria.

2.  To find out the importance of marketing in Nigeria banking industry.

3.  To find out the implication of not adopting a marketing philosophy by banks in Nigeria.

1.4   RESEARCH QUESTION

i.  What is the relationship between relationship marketing and customers retention by banks?

ii. What is the implication of not adopting marketing philosophy in the banking industry?

iii.        What is the importance of marketing in the Nigeria banking industry?

1.5   HYPOTHESIS

Ho:   There is little or no relationship between relationship marketing and customers retention by banks in Nigeria.

Hi:    There is a relationship between relationship marketing and customers retention by banks in Nigeria.

Ho:   Marketing in the Nigeria banking industry is of no importance.

Hi:    Marketing in the Nigeria banking industry is of importance.

Ho: The implication of not adopting marketing  philosophy in banking operation is adverse.

Hi: The implication of not adopting marketing philosophy in banking operation is not adverse.

1.6   SIGNIFICANCE OF THE STUDY

        With the recapitalization exercise embark upon by careful bank of Nigeria (CBN) and federal government of Nigeria is currently undergoing a period of business down turn with majority of the banks in the country in distress. Also, the banks have lost the sense of communication with customers and great deal of poor offer of service to potential customers or the public and it is necessary to understand the active role marketing play in the sector and take necessary actions.

        However, this study is of relevance because it is focused on justifying the role of marketing in Nigeria banking sector and the adoption of marketing orientation and its prospect in the banking sector.

        This study will expose business organization to knowing that marketing oriented is the philosophy of the firm as it relates to marketing department.

        Furthermore, it should be noted that the objective of marketing of banking services is to increase a prompt output volume by offering customer wants satisfaction over long time. Personal selling is the most effective method of achieving that goal because It encourage and ensure continued interaction between the bankers and the customer.

        The aim of this study is to equally profound a simple assistance and guild to other researcher who may want to profound a solution to a problem in future.

1.7   SCOPE/LIMITATION OF THE STUDY

        The researcher encountered many difficulties in the course of carryout this research work. However, despite the various limitations, the work was successfully completed.

        The limitation can be classified into, finance, data collection and attitudes of respondents.

        Finance: Due to lack of finance, the researcher was unable to go wide and far in order to collect enough information for the work. The money to be used to acquire vital materials needed in executing the research also posed as a problem.

        Data collection: The collection of data for this work poses a major problem to the researcher.

        The Guarantee Trust Bank Nigeria Plc, Auchi branch refuse to release their financial structure and all effort made to obtain it from other source prove abortive.

        In addition, some of the staff was not able to fill their questionnaire appropriately and this really constituted problems to the researcher during research analysis.

        Attitude of respondents: The attitude of respondents posed a great problem for the researcher. They doubted the genuine intention of the information soughed. Some of the respondents were reluctant and two bury to fill the questionnaire. The experience from the respondents was rather an unfortunate one.

1.8   OPERATIONAL DEFINITION OF KEY TERMS

Marketing: Marketing is the process by which companies create value for customers and build strong customer relationship in order to capture value from customer in return (Kotler and Armstrong, 2006:25):

Role: This can be defined as duties of individual or people in giving out adequate services to customers.

Marketing Orientation: When a company has a marketing orientation, it makes meeting the needs or wants of its target customers its primary business motivation. This include responding to stated consumers needs by developing new products, improving on exist products or improving services. Companies with especially strong marketing orientation may even detect consumer needs before the general market is aware of the. Those companies are usually cutting-edge innovators that try to give customers what they want faster than competitors.

Marketing concept: Marketing concept is the management philosophy according to which a firm’s goals can be best achieved through identification and satisfaction of the customer stated and unstated needs and wants.

Service is anything that can satisfy the need and want of customer which cannot be felt ,seen or touched.

        As opined by John Rathmul (1977) is one intangible product that is performed rather than product.

Marketing Promotional Mix: In any given period, a company uses a definite combination, mix or blend of advertising, personal selling, sales promotion and publicity in communicating managers about itself or its product or both. Such a combination used in a given period constituter that company’s promotional mix.

        According to Kotler Philip and Kotler Kelvin cane (2006) defined marketing mix as the set of marketing tools the firm use to pursue each marketing objective.

It is also defined as the combination of the controllable variable which comprise set of product, price, place and promotion that sell out as trying to increase sales of a firms present product into present marketing through a man aggressive marketing mix.

Marketing Penetration: This can be defined as trying to increase sales of a firms present market usually  through  more aggressive marketing mix.

Motivation: Internal and external factor, that stimulate desire and energy in people to be continually interested and committed be a job, roll, subject or to make an effort to attain a goal.

Motivation Results from the interaction of both conscious and unconscious factors such as the;

1.  Intensity of desire or need,

2.  Incentive or reward value of the goal, and

3.  Expectations of the individual and of his or her peers.

PERISHABILITY

        According to Mesejo D.F (2001) service unlike product cannot be street.

        The value of a service exists only at the point where it is to be provided. If such service is not consumed when they are available at any point in time, that service is termed perishable.

PERSONAL SELLING

        Saliu Musa Momoh (2002) personal selling involves exchange, interaction between buyer and seller in physical, social  or moral manner for the purpose of making sales.

EQUIPMENT

        Mesajo D.F (2001) these are the things needed for a purpose. The business should be technologically mobile, it should not insist on using old 1925 typewriter and computer in the jet age.

TRAINING

        Philip Kotler (1984) according to him, training can be defined as the systematic altering of the behavior of employees to increase attainment of organizational goal.


You either get what you want or your money back. T&C Apply







You can find more project topics easily, just search

Quick Project Topic Search