This study is designed to reveal to banks especially the three selected commercial banks, the importance of marketing in the banking industry. However, because of the increase in competition in the industry these days, banks are marketing conscious and are restless in their services development and innovation pursuits. This study is set, to determine the role (s) which marketing plays in banking activities.
However, the sample survey method was used to gather information from bank staff and customers of First Bank Nig. Plc., Union Bank Nig. Plc., and Chartered Bank Nig. Plc., all located in Onitsha metropolis. Some selected customers and bank staff were used in the formulation of sample size of 80 for the customers and 86 for the bank staff. The researcher tested the hypotheses through the use of chi-square and presented the results in tables reflected in chapter four.
However, after analyzing the various data gathered, the researcher came up with the following findings. That First Bank of Nig. Plc., Union Bank Nig. Plc. And Chartered Bank Nig. Plc., Onitsha are marketing  oriented banks  and  undertake many marketing functions.
There are good cordial customers relationship between the banks and their customers, hence the institution and designation of the position of relationship marketing officer in these banks. The banks are customer oriented and have integrated marketing in their operations arising from the adoption of marketing concept.
In the light of the foregoing, the following recommendations were made, viz:-
1. That Banks must be customers oriented in order to remain at the apex of the industry.
2. That Banks must find out what the customers wants are, and develop profitable products and services to meet them so that satisfied customers are guaranteed to enable them remain leaders and maximize profits.
3. That bank must restructure and harness the benefits arising from re-engineering, through training and development of their human resources.

Engaging an expert with marketing orientation in a bank many years ago would have been considered a misnomer. This is because marketing was considered applicable only to goods and not services for which commercial banks belonged. In order words, banks are now fully marketing conscious and have an equipped marketing department with an expert in the field at the helm. However, before inept insight on “the Role of Marketing in the Commercial Banks in Anambra State” a purview of the development of commercial banks industry in Nigeria is necessary.

The business of modern banking started in Nigeria in1892 with the establishment of African Banking Corporation. The bank existed for two years and had its assets and liabilities taken over by the bank of British West African in 1894, which later changed to the Standard Bank and is now known as the First Bank of Nigeria Plc.

In 1917, Colonial Bank (Barclays Bank and now Union Bank of Nigeria Plc.) was established.

Other banks that were established during the Neophytic banking era include, the Nigeria Merchant Bank (1931), Agbommagbe Bank, 1945 (now Wema Bank), the African Continental Bank Plc (now ACB International Bank Plc. 1947) to mention a few. The failure of many banks during the outset of the neophytic banking era led to the regulated banking era of 1952. it is on record that the activities of these banks centered on commercial banking with much emphasis on the financing of exports and imports activities and does not contribute much on industries until recently.

Nigeria has got to the realm of world awareness with amazing speed in the recent past. The present economic situation in Nigeria portrays different pictures to what the situation was some twenty to thirty years ago; hence, it caught the fancy of many industries and commercialists from every sector of the global activities.

There is the changing industrial and technological landscape in the attempt to diversify the economy, the changing management and administrative technique in all the sectors, the increasing international outlook of the business sector and above all, the changing tastes expectation and increasing sophistication of the people all of which have had tremendous impact on the marketing of goods and services in Nigeria.

Marketing has increasingly become necessary in today’s banks competitive environment. Competition from other financial institutions has forced banks to think seriously on effective competition. This has made them to pay increasing attention to marketing techniques required for banking services.

However, as emphasized by FOLUSO OLALUSI (1989) in his book, “The practice of banking” the marketing of banking services relate to identifying and stimulating client needs which can be profitable satisfied by the banks”. Marketing search light in banking focuses on increasing the deposit base of the banks and inducing credits worthy customers to borrow at a profit.

This differ clearly from marketing of goods which is merely to stimulate customers into buying while the banks ‘buys’ the deposit of customers, it again ‘sells’ the deposit to borrowing customers at a rate slightly higher than the price paid for the deposit. In other words, banks lend at a rate slightly higher than the prime rate.

The need for the marketing of banking services has become necessary as a result of the continuous change in the social economic technological and political environment and this has effect on the shape and nature of markets served by the banking industry. Equally, the increase in the number of banks and other financial institutions and their operating branches has given rise to competition among institutions producing financial services. Also, banks operate in a near perfect market. No bank can substantially influence the homogeneity in services rendered.

Therefore, the marketing of banking services by the commercial banks require a calculated and planned orientation with best blend and effective marketing mix to know what, who, where and how to tackle this over dynamic situation for the survival of the banks and the achievement of their corporate objective. No wonder Joseph C. Massie 1979 describes marketing mix as the apportionment of effect and the combination designed and integration of the element of marketing into a programme which on the basis of appraisal of the market forces will best achieve the objective of an enterprise in a given period. The marketing mix includes pricing, product, promotion and distribution.

Marketing of banking services is not just seeing the services from the eyes of the bank users, but also being in the right market at the right time with the right service at the right place. This entails planning, support of top management, improved trend in banker – customer relationship and organization of wide acceptance of the marketing philosophy.

The introduction and adoption of the concept of marketing principles as they apply in the marketing of bank services would therefore, help the commercial banks in general to have an edge over their competitors.

Banks do not consider marketing necessary. But with competition, changing taste, desires and needs of customers, banks are now marketing conscious and they are up on their toes, in their attempt to deliver value to their customers.

However, it looks like most banks have not adopted the marketing concept, or integrated Marketing in their operations.
Therefore, banks need to be customer oriented in order to create and maintain customers, whose patronage will always be assured or guaranteed.

In the light of the foregoing, it has become necessary to determine the role (s) which marketing play in commercial banks vis-à-vis the three selected banks under study.

This topic has been chosen because marketing of banking services in Nigeria is now facing serious competition. However, this study is aimed at finding out the following: -

1. To find out the role which marketing plays in banking activities.
2. To find out why are there slow procedures for granting bank facilities.
3. To find out the extent to which marketing concept has been adopted by commercial banks.
4. To find out whether there are qualified marketing professionals in the banks.

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Item Type: Project Material  |  Size: 81 pages  |  Chapters: 1-5
Format: MS Word  |  Delivery: Within 30Mins.


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