MARKETING IN THE BANKING INDUSTRY: A CASE STUDY OF SELECTED BANKS IN NIGERIA.
MARKETING IN THE BANKING INDUSTRY: A CASE STUDY OF SELECTED BANKS IN NIGERIA.
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Date
1992-12
Authors
IBRAHIM, MUHAMMAD BELLO I
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Abstract
One of the most dynamic industries in any economy
and Nigeria in particular is the banking industry.
Apart from being the pivot on which the nation's
economy revolves, it is also about the most active
in this era of deregulation. With the upsurge in the
number of licensed banks and finance related
institutions in the industry, the establishment of
more branches of banks, and with the dwindling fortunes
of the economy due to the very serious devaluation
of our currency, competition for the very limited
viable business ventures has become very keen. This
can be said to be a plus for the consumers of the
banking industry's products who now enjoy more
efficient and prompt services.
Part of the many ways being explored by actors
in the banking industry today, to remain afloat thereby
effectively depending their; business from the wrath
of competitors is by using marketing management
principles. Thus they indentify, anticipates and
introduces new products that meet customer's
requirements efficiently and profitably. This has
ensure banks continued patronage from existing clients
and open up new avenues for larger marketing-oriented
business coverage.
ustry is a recent phenomenon hence fraudght with
diverse impediments which include lack of a well
define model for development, packaging and labelling
of new products, lack of skilled marketing experts
and even where they exist, they seldom have the freedom
to act because most of the marketing functions is
spread over a number of different departments. In
other word, banks are yet to have a well structured,
full-fledge marketing department.
This research has dwelt on all these problems
and issues that involved marketing in the banking
industry especially as it affect Nigeria and the
selected banks in particular. It is in view of these
that I preferred ways to improve on banking services
development, delivery and marketing generally. The
bottom line has been drawn thus, days of arm-chair
banking are over. Consequently, marketing is a thing
that banks can no longer do without.
Finally, it is hoped that this research will be
useful to banking industry in general and most
importantly the selected banks, students and academics,
as well as any individual, group and organisation
previlaged to lay their hands on it.
Description
A PROJECT SUBMITTED TO THE POSTGRADUATE SCHOOL, AHMADU BELLO
UNIVERSITY, ZARIA IN PARTIAL FULFILMENT OF THE REQUIREMENTS
FOR THE AWARD OF MASTER DEGREE IN BUSINESS ADMINISTRATION
(MBA)
DEPARTMENT OF BUSINESS ADMINISTRATION
INSTITUTE OF ADMINISTRATION
AHMADU BELLO UNIVERSITY
ZARIA
DECEMBER 1992
Keywords
MARKETING,, INDUSTRY,, BANKING,, CASE,, STUDY,, SELECTED,, BANKS,, NIGERIA