ENHANCING THE PRODUCTIVITY OF BANKS THROUGH EFFECTIVE MARKETING METHODS.– TASK SUBJECTS AND MATERIALS

CHAPTER ONE

INTRODUCTION/BACKGROUND OF THE STUDY

1.0 INTRO

In our society, today, marketing is extremely important to the advancement of banking industry and financial development. Bank marketing has actually been specified as that part of management activity which appears to direct the circulation of banking services success to chosen customers. The requirement for marketing in banks stems from intense competitors, not simply from other banks, however likewise monetary corporations, insurance, companies, building -societies, and so on

. The banking sector services 2– Markets: Corporate and Retail consumers otherwise called Industrial and Ultimate Consumers– Markets.These two can be partitioned into five main types, namely:(a)Government and public sector( b)Economic sector

(c) The commercial sector

(d) The industrial sector

(e) The worldwide markets

One of the significant problems in Nigeria banking industry today is how to determine and satisfy customer’s needs and desires beneficially. Commercial banks such as Access bank Nigeria Plc, which is the focus of this research study, has actually not fully incorporated all the marketing– strategies into their banking operations, and they still discover it tough to change the system of operation from the standard banking practices.

In addition, the banking industry in Nigeria has not completely thought about marketing strategies as a crucial element in their operations. The factor for this is since banks are in the “Seller Market” instead of banks prospecting for account, and preserve great relationship with them, the customer has to search for banks which contrasts exactly what is obtainable in the banking market of the industrialized nation like America. STATEMENT OF THE ISSUE

All organizations are marketing organization and the application of marketing techniques aids in maximization of profit. The primary objectives of banks is to make the most of earnings, however some social and financial functions tends to deflect banks from profit maximization if their operations are not well coordinated with effective marketing techniques. Observations show that many banks do decline marketing as a crucial part of their operations and this neglect has the propensity to review such bank’s performance. It is versus this background that this research study tries to examine the relationship in between adoption of marketing techniques and banks performance. OBJECTIVES OF THE RESEARCH STUDY

The main objective of this study was to analyze the adoption of marketing methods and bank efficiencies. Other specific objectives includes: To analyze whether Gain access to Bank of Nigeria marketing strategies.

(ii) To take a look at, the effect of marketing techniques on the efficiency of banks.(iii) To examine whether there is success consideration underlying the application of methods adopted.(iv) To take a look at the extent to which consumer are satisfied and how they perceive different services offered by the banks. ( v ) To investigate how Gain access to Bank Of Nigeria Plc can use the integrated marketing methods to motivate consumer patronage and to keep their management position in the banking industry.

(vi) To make recommendations based upon the findings. RESEARCH STUDY QUESTIONS

The following research study questions were created in order to help the attainment of the research study objectives.

( 1) Does Access Bank of Nigeria Plc adopts marketing techniques?

( 2) What are the marketing techniques adopted by Gain access to Bank of Nigeria Plc.

( 3 )Exist success factors to consider underlying the application of the methods adopted by Gain access to Bank?

( 4) To what extent do clients perceived the various services offered by Access Bank Nigeria Plc and how satisfied are the customers?

( 5) How can Access Bank Nigeria Plc use the integrated marketing strategies to encourage customer patronage and preserve leadership position in the banking market? 1.4 RESEARCH STUDY HYPOTHESES The list below hypotheses were developed to guide the direction of the study. They are specified in both null (Ho) and alternative(Hi) kinds. Ho: Marketing strategies adopted by Gain access to Bank Nigeria Photo does not have substantial effect on the performance of the bank.

Hi: Marketing methods adopted by Gain access to Bank Nigeria Plc have its significant effect on the efficiency of the bank. Ho: Consumers are not pleased with the services offered by Gain access to Bank Nigeria Plc.

. Hi: Customers are pleased with the services used by Gain access to Bank Nigeria Picture.

Ho: There is no profitability consideration underlying the application of the methods adopted by Gain access to Bank Nigeria Plc Hello there: Profitability factors to consider underlie the application of the methods embraced by Gain access to Bank Nigeria Plc.SIGNIFICANCE OF THE RESEARCH STUDY The findings of this research study if embraced

would enable banks to control their marketing mix to the fulfillment of differing wants and needs of the account by taking cognizance of their intentions. This study might be of enormous advantage to banking market in Nigeria in determining their marketing methods. It will also work as source of understanding for entry into the market. Lastly, it would function as reference products for future researchers who might want to use the products for further study. SCOPE OF THE RESEARCH STUDY This research study concentrates on the banking market in Akwa Ibom State with particular referral

to Access Bank Nigeria

Plc, Eket. It is created to give an insight into the adoption of marketing techniques in banking industry. LIMITATIONS OF THE STUDY In the course of this work, the research was constrained by the following elements:( 1)Research Study Products: Products

required for the research were very limited, the minimal books in the Polytechnic’s library and relevant marketing and banking

journals were likewise used in the analysis of this research.(2) Poor mindset of the respondents: This was one of the problems come across in the course of this research study as a few of the respondents were hostile and were not going to offer appropriate

and precise details needed in time. 1.8 DEFINITION OF TERMS ADOPTION: This refers to the act of beginning to utilize a particular strategy, method, method of speaking or doing things. BANK: A bank is specified as a company that supplies various financial

services, such as accepting deposits, and offering organisation loans CLIENT: According Drucker(1977), ” A consumer is anybody who uses the services or products of another “. PRODUCT: Busch and Houston(1985)as estimated by Ahma Anyanwu in his measurement of marketing defined a product as “anything capable

of satisfying customers needs and wants. TECHNIQUES: Anyanwu(1993): Methods give the guidelines on how to attain an

organization’s goals. It is also seen as a strategy that is meant to attain a specific function. MARKETING MIX: Charles and Gerald(1983), defines marketing mix

as the mix of manageable variables that a firm uses to appeal to a target audience. EFFICIENCY: An act that includes a great deal of effort or trouble, often when it is not needed.

Performance is also seen as how well or terribly you do something, or how well or badly something works.

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