APPLICATION OF MARKETING STRATEGIES TO CUSTOMER RELATED SERVICES IN COMMERCIAL BANKING: A CASE STUDY OF UNION BANK PLC
APPLICATION OF MARKETING STRATEGIES TO CUSTOMER RELATED SERVICES IN COMMERCIAL BANKING: A CASE STUDY OF UNION BANK PLC
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Date
1999-09
Authors
MICHAEL, DAUDU FOLUSHO
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Abstract
Having observe the competitive nature of the world today, Firms must be tactical
in their operations in order to meet the increasing challenges of the economy. One
vital way to succeed is for a firm to be able to strategically market its products or
services.
The Banking Organization which is the focus of this study, is in business to render
services. Therefore, the Commercial Bank must be prepared not just to provide
the service, but to do so qualitatively and aggressively if they must serve. Gone
are the days when banking was viewed as a "seller's" market whereby customers
had the impression that they were privileged to enjoy the services of a bank.
Today, it is the turn of the bankers to go out and seek for customers and also
strive to retain them by identifying their various needs and satisfying them as well.
This study was done to review the application of marketing strategies to customers
related services of selected Commercial Banks of Nigeria specifically Union Bank.
The findings have shown that the Bank have only just begin to grasp the full
meaning and understanding of marketing and its application to business. Even
then, there are still to be found traits of poor staff attitude to customers, long
delays in Banks, lukewarm attitude of Management towards rural banking, among
others.
In the light of these findings, the following recommendations were proffered:
1. That the Banks should go all out to market their services more aggressively
by stepping up the use of salesmen bankers who will serve as consultants
and advisers to clients who are seeking financial services.
2. Furthermore, banks should set up research units to carry out more research
into different customer's needs and based on that:
3. to be more customer-conscious in the design of their services in banking
industry.
Description
A PROJECT SUBMITTED TO THE POSTGRADUATE SCHOOL, AHMADU BELLO
UNIVERSITY, ZARIA IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE
AWARD OF THE DEGREE OF MASTER OF BUSINESS ADMINISTRATION (MBA).
DEPARTMENT OF BUSINESS ADMINISTRATION
AHMADU BELLO UNIVERSITY
ZARIA.
Keywords
APPLICATION,, MARKETING,, STRATEGIES,, CUSTOMER,, RELATED,, SERVICES,, COMMERCIAL BANKING,, CASE STUDY,, UNION BANK