The Importance Of Marketing In Service Organization (A Case Study Of UBA Bank)

Project and Seminar Material for Marketing

The Importance Of Marketing In Service Organization (A Case Study Of UBA Bank)


Abstract


This research work is aimed to describe the importance of marketing, one need not to look further than this quoted “marketing is everything and everything is marketing”. The statistical tools the researcher employed to ensure that proper analysis was done in the hypothesis tested by the researcher are; simple correlation analysis. The researcher also discovered that UBA believed that customer is the king in a service organization as such; UBA should embrace customers’ orientation approach in dealing with their customers. Aside most staff of the bank also believed that qualities and skilled marketers are need in a service organization other area which the bank needs to pay attention to is the area of how customers rate the service offered by UBA which to them, it is very low. It was recommended that marketing department of UBA should strive to improve in their performance since the research revealed that the core activities in terms of customers and efficiency service of UBA depends on perform by marketing department.


Chapter One


1.0 Introduction

To describe the importance of marketing, one need not to look further than this quote “marketing is everything and everything is marketing”.

Everyone is exposed to marketing everyday, even when they don’t know it.

Billboards surround the nation road, Lagos appear everywhere from t-shirt to the centre field fo the “Tositos” fiesta below when a teenager is begging his dad to use the family car, he is in fact marketing himself to his father for the exchange of the keys and that is what marketing is all about, trying to create exchange that satisfy and benefit both parties.

No consumer can escape from marketing campaigns and no business should be operating without a marketing plan to identify potential customers, meet their need and want and keep them coming back for more, this section gives you an introduction into the word of marketing and different aspects of it. You will here about the “ps” of the marketing mix.

The importance element of a marketing plan. It is your future customer are identified and placed between the cross wires with marketing research and target marketing to get a specific message to a specific customer, one must be familiar with direct marketing, overall the section sho8uld help you learn about the importance for small.


1.1 Background to the Study

In a rapid changing economic and social environment, management of any organization must anticipate and adjust promptly to significance shift in the customer demand competitors and public expectations.

Consumer or satisfaction should be the first thing you think about before considering the profitability prior to this, several scholars have found out that organization which enhance the marketing concept achieve superiors performance. In fact all marketing activities should begin and end with the consumer. Thus, consumer satisfaction therefore make it necessary for an organization to be marketing focused.

The organization must not only practice marketing, but it must be right strategies and marketing mix element to offer total product benefit and satisfaction to the consumers.

This is very necessary if the organization must survive, grow and remain competitive. The importance of marketing is considered to be very crucial in an organization such as, it assumed to be wide as life.

Marketing plays a matching role process by ways of linking the organization activities to the external environment.

Hambagba (1989) opined that “successful cooperation management required the demand of its environment”.

In order to effectively play the role, marketing management must constantly analysis cost and monitor changes in the environment with a view to identify those factors that might like threat and affect the opportunities of the organization.

The emergence of strong competition, the changing regulatory environment the impact of technologies and application of computer in business signifies actions in Nigeria service sectors that need a paid serious attention since they are the uncontrollable factors wagging war against more organization in Nigeria.


1.3 Statement of Research Problem

Most service organization tend to underrate the importance of marketing in their business activities which do result in low patronage or outright business failure. The research work is aimed to address such problem.


1.4 Objective of the Study

This research work is aimed

  1. To know the importance of marketing in service organization.
  2. To know the importance of marketing in banking sector.
  3. To know the strength, weakness, opportunity and threat (SWOT).
  4. To know the importance of marketing in customers satisfaction through quality service value.
  5. To know how to develop effective marketing planning in service organization.

1.5 Research Hypothesis

In order to make research work easy, the following hypotheses have been formulated to service as guide to the study.

Hypothesis One
  • Ho: Poor handing of quality service affect service organization.
  • HI: Poor handling of quality does not affect service does not affect service organization.
Hypothesis Two
  • Ho: The use of marketing strategy in banking operation does not result in greater patronage.
  • HI: The use of marketing strategy in banking operation does not result in greater patronage.
Hypothesis Three
  • Ho: Customer is not a king in service organization
  • HI: Customer is a king in service organization.

1.6 Significance of the Study

Some companies hardly know that marketing services can enhance their level of performance as well as the growth of the organization.

This study will be beneficial to the state and federal government enterprise. This study will expose the importance of service marketing in organization where services are rendered.

Finally marketing study will also find this project work as a reference literature in carryout their research.


1,7 Scope / Delimitation of the Study

This project intends to look into service marketing and its significant. The research shall also go into finding out marketing principle and type in service operation by banking sector and importance of marketing in service organization. the research of service will also attempt to point out the barriers affecting marketing of service and possible means of eliminating such problem.


1.8 Operational Definition of Terms

All terms used in this research work are functional for the purpose of this particular research work.

Motivation:

This is concerned with the subject of encouraging employee to contribute their best to at least to upgrade their commitment to organization goals.

In order to be able to do this management needs an understanding of why people believe the way they do at work (Ezewels, S. E, 2006).

Price:

It can be define as a value consideration for exchange. Price important in determining profit from marketing point of view, price is the value placed on a good or service by customers at some point in time.

(Masoje, 2001) manager service or organization must compare his price with those of the competitors in the marketing place to determine whether they are high or low.

Training:

This has been defined as systematic altering of the behaviour of employee to increase attainment of organization goals (Masoje, 2001).

Equipment:

These are things needed for a particular purpose or for the operation of the business. The business should be technologically mobile by way of adopting new technology equipment rather than using old 1930 type writer equipment an analogue computer in this new era (Masoje, 2001).

Symbol:

This is the usage of image, object etc that suggest or refers to something else. The name and he symbol use by an organization can help the customer or identify with the firm.

Personal Selling:

This refers to the use of speech and punition (face to face) to bring about some action on the part of another.

Some action that might result from personal selling are buying an insurance policy, or operating an account with bank (Asore, 2008).

Place:

The physical setting or the location of the business must quick and efficient service because their accessibility is important factors in service marketing.

People:

People are essential, and the delivery of most services. Service personal include operation, bus driver, bank clerk, receptionist and cashier etc.

Product:

A product is anything that can be offered to the market to satisfy a want or need (Kotler and Keller, 2006)

Promotion:

It is asset of activities done in order to increase the sales of a product or service e.g. sales promotion, advertising, packaging and personal selling (Ezewel, 2006).

Perishability:

These are services that are perishable in nature that cannot be stored. The value of a service exists only the point when it is to be provided. If they are not consumed when they are available, they perish on time.

Adequate Skilled Manpower:

This is aimed at satisfying a requirement which involve the ability to do something expertly as for the purpose of achieving organization goal (Kotler and Keller, 2001).

Intangibility:

These are service that is impossible to see, taste, feel etc before they are purchased.

The consumer of such service seek opinion and attitude before they buy any level of service (Ezewel, 2006).

Inseparability:

Unlike goods or product service cannot be separated from the person or the seller.

Communication Material:

The communication material should suggest efficiency. The advertisement should communicate the business position using good picture etc.


Chapter Five


Summary, Conclusion and Recommendation

5.1 Summary

Marketing is a very essential instrument in achieving the objective of service organization. It plays a central role in the co-ordination of the various marketing tools and techniques of service organization in achieving its profitability objectives. As a vital instrument in achieving the objectives of service organization especially commercial banks, marketing strategy tend to increase customers patronage of the various services offered by service organization through customer satisfaction. The finding of the study also shows in tables 2 that there is a significant relationship between marketing strategy in banking operation and greater patronage. This however implies that service organization can design and direct appropriate strategies to their target market so as to win their patronage. The study also revealed that the task of developing strategies that will meet customer satisfaction requires a market research on the target market so as to determine the motivational factor in their purchase decisions. These factors when properly considered, incorporated and implemented will serve to satisfy customers and as a result achieve the expected response i.e. increase patronage. It was also discovered from the study that the factors that motivate customer’s patronage consist of both physical and psychological characteristics of the services offered and the environment, which must be carefully analyzed through customer’s characteristics. This can be achieving through customer orientation. The finding of the study also shows in tables 1 there is a significant relationship between poor handling of quality service and organization service. Commercial banks therefore adopt strategies that will improve their handling of quality service so as to survive and grow in the dynamic environment. However, profit which is determined by the movement of fund in and out of the commercial bank depend more on customers patronage, by adopting good handling of quality service that will increase customers patronage of their services, commercial banks also seek to improve their profitability rewards.


5.2 Conclusion

The importance of marketing in service organization operation is to stimulate patronage so as to increase their profitability rewards. The results of the findings revealed that this is achievable, but service organization especially commercial banks have to be careful and employ strategies with caution because, strategies are costly. Besides, several factors tend to influence the purchase decision of customers, and if these factors are not effectively applied to understand those factors that influence patronage motives then it will affect the commercial banks profitability.


5.3 Recommendation

Based on the findings of the study, the following recommendations are made.

  1. Service organization should employ strategies to enhance the achievement of their objective since every fact tends to indicate that strategies have a way of influencing customers’ patronage. Commercial banks should therefore design strategies that will positively induce customers to patronize their services.
  2. Service organization should assess the workability of each strategy before implementation since strategies are costly and may involve heavy capital investment. Commercial banks should therefore assess strategies against the patronage factor.

Above all, this study would have been better if it has been carried out on a wide scope. For instance many commercial banks across the country, more specifically the sample size for this study was relatively small, research efforts should be tailored to using a large sample that will embrace many banks across the country for more authentic result. More so, research is needed in areas such as environmental factors influencing customers’ patronage of commercial banks services. Again, further studies should be directed to investigating factors influencing customers’ patronage of commercial banks services with regards to environmental factors.


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