AN EVALUATION OF THE DEVELOPMENT AND MAINTENANCE OF GOOD CUSTOMER RELATIONS IN THE BANKING INDUSTRY IN NIGERIA: A CASE STUDY OF SAVANNAH BANK OF NIGERIA PLC

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Date
2002-06
Authors
ADERONMU, MATTA THERESA
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Abstract
The customer is king@ is an old adage in the business world. In today=s intensely competitive environment there are a few, if any, issues of greater importance than the issue of winning and retaining profitable customers through the building of relationships that last. The customer is central to every business. Every business organization implicitly needs insight and practical advise on what it takes to win and keep customers. It is therefore of serious concern that not many banks in the Nigerian economy have caught this vision. Most banks stop at attracting customers while the more important issue of retaining these customers is given little or no attention. This study reviews a few authors= approaches to the subject of creating lasting relationships with customers. An assessment of the Nigerian banking industry reveals that Nigerian banks need to do a lot more to create sustainable relationships with their customers. Increasing educational qualifications is creating more awareness among the Nigerian bank customers. This means that their expectations are high and complex. A bank that desires to survive and grow must continuously create innovative ways of meeting the ever changing needs of her customers. The key to success is TOTAL CUSTOMER SATISFACTION WITH A FOCUS ON RELATIONSHIP. The result of customer focus initiatives are very clear - loyal customers, loyal employees, good corporate image, greater profitability and increased earnings.
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A RESEARCH PROJECT PRESENTED TO THE POSTGRADUATE SCHOOL OF THE AHMADU BELLO UNIVERSITY, ZARIA, IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE AWARD OF MASTER OF BUSINESS ADMINISTRATION DEGREE OF AHMADU BELLO UNIVERSITY, ZARIA, NIGERIA
Keywords
EVALUATION,, DEVELOPMENT,, MAINTENANCE,, GOOD,, CUSTOMER,, RELATIONS,, BANKING INDUSTRY,, NIGERIA, CASE STUDY,, SAVANNAH BANK
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