THE MARKETING OF BANKING SERVICES (A CASE STUDY OF FIRST BANK OF NIGERIA PLS). A RESEARCH PROJECT MATERIAL ON BANKING AND FINANCE
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.
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.
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.