The Marketing Of Banking Services (a Case Study Of First Bank Of Nigeria Pls)

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THE MARKETING OF BANKING SERVICES

(A CASE STUDY OF FIRST BANK OF NIGERIA PLC)

ABSTRACT

          This study – investigated the marketing of banking services with it problems and prospects within the socio-economic environment Bank of Nigeria (Plc) as a case study.

          The main purpose was to find out the effectiveness of the marketing of banking services as it affects the bank itself and the banking industry, the customers welfare and profitability of the bank and national economy in general. There is however a rapid increase in the number of banks and this led to number of banks and this led to competition among banks. This competition became so fierce that banks began to seek means of survival.

          In the course of achieving the above objectives both primary and secondary data were used to gather information. For the primary method data collection, both questionnaires and interview method are used. Whereas for the secondary data collection, information were sought from Bank libraries, journals and text books.

The questionnaires used were distributed to both bank staff and customers of First Bank of Nigeria Plc.

          After the analysis of data collected, the researcher ascertained that commercial banks face competition in marketing of their services. Banks conduct marketing research as to achieve their target profit motive; banks have some problem that preventing them form rendering efficient banking services to their customer.

          However, some recommendations were made based on the finding above. That bank should organize more training for their staff especially concerning their attitude towards banks customers; Banks should also embark on research that will enable them identify their customers needs and the ways of meeting such needs.

 

 

 

 

 

 

 

 

 

 

 

 

 

TABLE OF CONTENTS

TITLE PAGE

APPROVAL PAGE

DEDICATION

ACKNOWLEDGEMENT

ABSTRACT

CONTENTS

 

CHAPTER ONE

1.1       Background of the Study

1.2       Statement of the Problem

1.3       Objective of the study

1.4       Research questions

1.5       Research hypothesis

1.6       Significance of the study

1.7       Scope, limitations and delimitations

1.8       Definitions of terms

 

CHAPTER TWO 

2.1    Review of related Literature

2.2    Nature of Marketing of banking service

2.3    Purpose of marketing bank service

2.4    Services Rendered by banks

2.5    Current Accounts

2.6    Saving Account

2.7    Fixed deposit account

2.8    Night safe facilities

2.9    Safe custody

2.10  Leasing

2.11  Loan Syndication

2.12  Telegraphic mail transfer

2.13  Cheque clearing

2.14  Bank draft

2.15  Standing orders

2.16  Investment services

2.17  Problems facing marketing of bank services

2.18  How to improve marketing of bank services

2.19  Marketing management concepts

2.20  Production concepts

2.21  Products Concept

2.22  Selling Concept

2.23  Marketing Concept

2.24  Societal marketing concept

2.25  Marketing Mix

2.26  Product

2.27  Place

2.28  Promotion

2.29  Pricing

2.30  Strategic marketing process

2.31  What are survivals Strategies?

2.32  Techniques for survival

2.33  Scientific management approach

2.34  Strategic Planning

2.35  Public relation

2.36  infrastructure and modern technology

2.37  Banking regulations

2.38  Human Resources   

 

CHAPTER THREE

Research design and methodology

3.1    Research Design

3.2    Area of study

3.3    Population

3.4    Sample and Sampling Techniques

3.5    Instruments of Data Collection

3.6    Methods of Data presentation

3.7    Methods of Data Analysis

 

CHAPTER FOUR

4.1    Data Presentation of analysis

4.2    Analysis of response Rate

4.3    Presentation and analysis of data

4.4    Testing and interpretation of hypothesis

 

CHAPTER FIVE

5.1       Summary of findings

5.2       Recommendations

5.3       Conclusion

          Bibliography

          Questionnaire

 

 

 

 

 

 

 

PROPOSAL PAGE

          Most banks have taken great emphasis on the marketing of bank services in the economy. The First Bank of Nigeria (Plc), is the main body concern in this write up. They have taken a very important steps and strategies recently and presently in a bid to improving their operations and liquidity strength, customer relations, credibility and effective participation in the resuscitation of the economy. The research work takes a detailed look of the role of marketing management services at First Bank of Nigeria (Plc), with the retention of exposing the relevance of their services in the economy and the problems preventing them from the effective actualizations of the various functions.

          The work is divided into five chapters. Chapter one is the introduction and discusses such issues as the background of the study, statement and purpose of the study as well as the scope of the study, limitation and delimitation and definitions of terms. Chapter two looks at related literature review while chapter three discusses the design ad methodology of the research. Chapter four discusses data presentation and analysis and finally, chapter five summarizes the findings in the previous chapters as well as the recommendation and conclusion.

 

BANKING AND FINANCE DEPARTMENT

HND II, PROJECT FORMAT

CHAPTER ONE

Introduction:

 

1.1       Background of the study

1.2       Statement of the problem

1.3       Purpose / objective of the study

1.4       Research questions

1.5       Research hypothesis

1.6       Significance of the study

1.7       Scope, limitations and delimitations.

1.8       Definitions of terms.

 

CHAPTER TWO

Review of related literature

 

CHAPTER THREE

Research Design and Methodology

3.1       Research Design

3.2       Area of study

3.3       Population

3.4       Sample and sampling techniques

3.5       Instruments of data collection

3.6       Methods of data presentation

3.7       Methods of data analysis

 

 

CHAPTER FOUR

Data Presentation and Analysis

 

CHAPTER FIVE

Findings, Recommendations and Conclusion

 

NB: In-text citations in line with APA method must be strictly observed.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CHAPTER ONE

INTRODUCTION

1.1    BACKGROUND OF THE STUDY

          In any economic set up, there are various institutions engaged in Commercial activities with the cardinal aims of strengthening their financial base and quality service to the society through the marketing of their products and services; thereby establishing themselves firmly within the given economic environment.

          Before the Mid-1950’s banks had no understanding or regard for marketing because they were supplying needed services. Marketing came into banks in the late 1950’s not in the form of “Marketing Concept”, but in the form of advertising and promotion concept. The financial institutions especially the banks feature prominently in competitive economic atmosphere principally focusing their operations in the marketing of their services to the general public.

          However, some of these services include among other, the granting of loans and overdrafts, issue and purchase of securities, provision of sate depositories to customers as well as facilities for making payments through bank notes and cheques. It is therefore a simply obvious that an institution like bank should evolve sound management techniques coupled with effective marketing and services strategies within its socio-economic and political ambient. It also follows that certain operational problems may try to impinge on the efforts of the Bank to stand firm amidst the winds of economic vacillation and constant policy changes.

          The First Bank of Nigeria (Plc) one of the leading Banks in the marketing of Bank services has taken various strategic steps in a bid to improving  its marketing operations and liquidity strength, customer relations, credibility, and effective participation in the resuscitation of the economy. This will receive due attention in the course of this work. Suggestions and recommendations will also be given to the possible way of solving the various problems affecting the marketing of banks services within the system.

1.2 STATEMENT OF THE PROBLEM

          The Banking industry has been identified over the years as having the potential of transforming the basic economy of any community, state or nation, if properly established and well constituted, controlled and managed. In the banking industry today, certain problems affected the effective and efficient services; thereby preventing them from achieving their target aim.

          One of the major problems in the banking industry is the poor customer services shown by long but avoidable delays in

 

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