MARKETING OF BANKING AND FINANCIAL SERVICE (A CASE STUDY OF LEADWAY ASSURANCE COMPANY LIMITED)
Banks are profit oriented organization. the profit can not be made without the customers. Or it as a result of the services provide by these banks?
It is as a result of this research work to find out of banks and financial services can be marketable. Is customer satisfaction what these banks attain to achieve. This research work has five chapters.
Chapter one contains a discussion of how the banks and financial services can be marketable. It went further to state problem to be studied and why this study was carried out, the scope and limitation of the study and finally the propositions and the definition of terms.
The chapter two contains a number of past related literature examined by other studies as it related to the application of the marketing concept in the Banking & Financial services.
The methods used in collecting relevant data lie the design of the study. It also deals with way the questionnaires were distributed and the treatment of the data.
The data got from the research survey were analyzed and interpreted. Also similar question on both questionnaires were compared.
Finally, the summary of findings, conclusion on the research and recommendations made by the researcher are all in chapter five.
It banks & financial intitutions would put the recommendations made in the study to use, there will not only be satisfied customers with services offered, but a continuous increase in profit made, thereby making the problems of the banks a thing of the past.
Table of contents
1.1 Background of the study
1.2 Objective of the study
1.3 Significant to the study
1.4 Scope of the study
1.5 Limitation to the study
1.6 Statement of problems
1.7 Need for the study
1.8 Purpose of the study
1.9 Research proposal
1.10 Definition of terms
2.0 LITERATURE REVIEW
3.1 Design of the study
3.2 Population for the study
3.3 Sample size
3.4 Development of research materials
3.5 Questionnaire design
3.6 Research procedure
3.7 Treatment of data
4.0 Presentation analysis and interpretation of data
5.1 Summary of findings
5.3 Recommendations for improvement
The deregulation of the financial services market which the Nigeria economy has witnessed under the structural adjustment programme, has exposed financial institution to the types of competitive and tough market environment which their counter parts in the advanced economics have witnessed for many years.
The banking and financial institution which have survived the turbulence which those changes brought in their wake, are those which have encourage & embrace the marketing philosophy as a corporate culture for the organization. The Nigeria experiences is no different from that of those of our counterparts in the advanced world and we have the benefit of adopting the well tested and established method which help them to achieve excellence in the face of apparent odds.
The argument in this research work is that it enhance profits and in fact the entire issue of corporate survival, excellency, competitive edge stand out corporate image, can only be achieved if financial industries adopt the marketing concept as the philosophy which guides the way we deliver our services.
Besides, the advent of deregulation and the ensuring cut-throat competition the financial market in which we operate is characterized by homogeneity of products or services rendered by all banks and insurance companies. As with other service industries, they do not have the advantage which the physical product marketing companies have in product differentiation through improvement of product functioning and peck presentation.
Banks and insurance companies are selling essentially the same basic products or service and therefore have very limited degree of freedom to enhance competitiveness on the basis of product differentiation.
Competitive advantage can therefore only be achieve through adoption of outstanding service delivery systems and customer oriented attitude towards the satisfaction of customer demands and expected.
This study is thus designed to examine how leadway assurance can create a competitive edge through the application of marketing to its.
OBJECTIVE OF THE STUDY
The primary objective of this study is to ascertain the aspect of marketing of insurance services in Nigeria and ways to accomplish it among other things by:
i. Examine the ways insurance companies in Nigeria practice the marketing concept.
ii. Determining the degree of customer awareness of the banking services.
iii. Ascertaining the stage of marketing to financial serves in Nigeria.
iv. To identify the problems the financial industry’s face in the application of the marketing concept.