The Importance Of Marketing Strategy In Nigeria Banking Industry (A Case Study Of G.T.B Bank)

Project and Seminar Topics with material for Banking and Finance

The Importance Of Marketing Strategy In Nigeria Banking Industry (A Case Study Of G.T.B Bank)


Table of Contents


  • Title page
  • Certification
  • Dedication
  • Acknowledgement
  • Table of contents

Chapter One:

Introduction

  • 1.1 Background of the study
  • 1.2 Statement of research problem
  • 1.3 Objective and purpose of the study
  • 1.4 Scope and limitation of the study
  • 1.5 Research methodology
  • 1.6 Significant of the study
  • 1.7 Statement of the hypothesis
  • 1.8 Organization of the study

Chapter Two:

Literature Review

  • 2.1 Historical background
  • 2.2 Comparative marketing strategies
  • 2.3 Organization aim, gall and strategies
  • 2.4 The major marketing strategy determinant
  • 2.5 Selection of an effective marketing strategies
  • 2.6 Impact of effective marketing strategy on banking industry

Chapter Three:

Case Study and Methodology

  • 3.1 Brief history of the case study
  • 3.2 Method of data collection
  • 3.3 Population and samples
  • 3.4 Sampling techniques
  • 3.5 Method of data analysis
  • 3.6 Procedure for processing collected data
  • 3.7 Limitation of the method

Chapter Four:

Data Presentation and Analysis

  • 4.1 A brief introduction of the chapter
  • 4.2 Presentation and analysis of data according to research question
  • 4.3 Presentation and analysis of data according to test of hypothesis
  • 4.4 Analysis of other data

Chapter Five:

Findings, Summary, Conclusion and Recommendation

  • 5.1 Summary of findings
  • 5.2 Conclusion
  • 5.3 Recommendations
  • Bibliography

Chapter One


Introduction

1.1 Background of the Study

In 1892 the first commercial bank was established in Nigeria when the Africa banking corporation established a branch in Lagos later, branches of other expatiate banking business called the bank of British west African and Barclays were established.

Nigeria started to run indigenous bank in 1928. when the first indigenous bank was establish in Lagos.

In the early stage of Nigeria indigenous banking system, nearly all the banks established met a sudden death as “ the collapsed within a very short period of time due to mismanagement and inexperience.

However, the rapid increase in the number of the commercial bank is a good fortune to nation economy as a whole but called for the need to develop the marketing as well as marketing strategy in order to determine the needs and wants of target market more efficiently and effectively therefore every bank incorporate marketing department as an integral part of the whole system. The marketing managers and in the saddle of running and making decisions about how best to employee the marketing tools at this disposal to achieve a predetermined goals. The marketing managers work with the variable controllable and uncontrollable while planning the strategy.

In effective marketing strategy, the marketing manger faces certain constraints that are inherent in the environment within which the strategy must be employed. These constraint are the situation analysis variables include in the situation of the marketing plan. However, many of the most successful banks in the world own their success to practicing a well designed market orientation.


1.2 Statement of Research Problem

One of the greatest factors that brings about effective turnover organization is effective marketing strategy applied in that organization.

Hence the research problem of this study revolves round the effect of marketing strategy in banking industry the nature of services offered by the bank i..e intangible goods are more difficult to sell than the tangible ones. However, they have to put a lot of marketing knowledge strategy in selling their product since their services can not be seen or for the bank to complete effectively other financial institutions.

The problems of this study would be centered on the following specific term:

  1. What are the historical background of marketing and marketing development in Nigeria
  2. What are characteristics of financial services?
  3. What are the positions of service industry in Nigeria?
  4. What are the importance’s of marketing to the society?
  5. What are the roles of marketing in banking industry?
  6. What is the importance’s of marketing to the society?
  7. What constitutes the marketing strategy?
  8. What are the major marketing strategy determinants?
  9. What are the best ways of selecting an effective marketing strategy?
  10. What are the impacts of effective marketing strategy on banking industry?

1.3 Aims and Objective of the Study

The aim of this study is to analyze the merit of marketing and its strategy in banking industry. Theories and research findings have shown that the effective of marketing strategy improve most banking industries by boosting their effectives and efficiency.

Objective of the study are as follows.

  1. To examine the historical evolution of marketing development in Nigeria.
  2. To highlight the nature and characteristics of functional services.
  3. To examine the position of service industry in Nigeria
  4. To discuss the roles of marketing in banking industry
  5. To point out the importance of marketing in society
  6. To examine the marketing strategy
  7. To expatriate the major marketing strategies determinant.
  8. To critically examine the best way of selecting an effective marketing strategy
  9. To expatriate the impact of effective marketing strategy on banking industry.

1.4 Significance of the Study

The significance of the research work is that it provides information on the marketing strategy in baking industry; the study will also create the most properly accepted policy in marketing strategy. The study highlights the policy required in marketing effective marketing strategy in banking and other solution to the problem related to importance of effective marketing strategy in banking industry.


1.5 Scope and Limitation of the Study

The scope of marketing strategy is very wide, it is applicable in every business organization which is profit oriented i.e. financial institution, insurance company, partnership, sole trading etc. to mention but, a few we have attempted to conduct a research into all possible area that would facilitate effective marketing strategy in banking industry. But as a result of time and financial constraints, the research in banking industry especially commercial banks.
The research will be historical and case study which may be limited by insufficient finance, lack of enough time and lack of co-operation from the respondent.


1.6 Statement of the Hypothesis

One of the characteristic of the study is to enumerate some fundamental hypothetical statements resolving round the problem of the study. Therefore, some hypothesis have seen formulated to make clarification of the problem of effective marketing strategy.

For this reason, the following questions are tested.

  1. Does any strategy have any effect on the banking industry?
  2. Does marketing strategy have any effect on banks customers?

The general hypothesis that will be tested in the course of the research are as follows:

  • Ho: Marketing strategy does not have effect on banking industry
  • Hi: Marketing strategy has effective on banking industry

1.7 Research Methodology

Based on the topic of the research, the researcher will make use of both primary and secondary source of information. Primary sources are include materials for the case study, material from the internet and response form questionnaire, therefore, secondary source are includes text books, financial report, newspaper etc.

The instrument to be employed to collect the primary data is questionnaire. Both descriptions and inferential statistics will be employed to analyses the data collected.


1.8 Organization of the Study

The researcher work will be divided into five chapter and each chapter contains the following.

  • Chapter one contains the background of the study statement of research problem, aims and objective of the study, significant of the hypothesis, research methodology and organization of the study.
  • Chapter two discusses historical background, co-operative marketing strategy, organization aim goals and strategies the major marketing strategy and impact of effective market strategy on banking industry.
  • Chapter three also contain the highlight brief history of the case study, method of data collection, population and samples, sampling techniques, method of data analysis instrument, procedure for processing collected data and limitation of the method.
  • Chapter four also deals with presentation and analysis of data according to research question, presentation and analysis of data according to test of hypothesis and analysis of other data.
  • Chapter five highlight summary of findings, conclusion and recommendations.

Chapter Five


Findings, Summary, Conclusion and Recommendation

5.1 Summary of Findings

In the olden days when the number of the commercial banks established was relatively small, the customer used to seek relationship banks. Now that have twenty four merger banks with so many branches across the nation, the bank have to seek for customers as the competition becomes more intense.

However, the increase in the number of banks established calls for the need for these commercial level of competition among these banks. Marketing helps a lot in maintaining a good atmosphere between banks and customer, it also awaken them (banks) to their responsibility to customer, as the bank realized that the days of “arm chair” banking where the bank manager waited for customers is over, how it is the bank that need to seek for customers to achieve, its organizational goals.

Therefore, in order to achieve the marketing objectives of the bank an integral part of marketing research that determine what customer needs to satisfy. The marketing research of a bank impose the following: revealing the attitude of people towards services and people desire, determine, in advance the likely reception of new banking services identifying the prospects of banking services, measuring, performance against the competitors and best location for the branch sites.


5.2 Findings

Having revealed the customer desires, the marketing mix will be designed and well packed in the manner that the bank would be able to win more customers to its end.

The first step in strategy formulation is to specify target customer. The bank cannot easily satisfy all customers.
As a result of this, the management is well plan to select a subset of the total and to focus its marketing effort upon this limited group. A well formulated strategy capitalized on the strength and weakness of the organization and the effect of the environment upon marketing strategy

The marketing strategy is formulated by the qualified marketer with the aid of marketing tools and principles. An effective marketing strategy has a significant effect of the following organization aims of the bank: target rate of return on capital, target rate of increase on sale, target rate of growth of net asset, maintenance of overall market share, maintenance of customer level etc.


5.3 Conclusion

Conclusively, we could say that marketing strategy plays a very important role in commercial bank and also make development in an effective marketing program.

Generally, marketing is important both in the society and individual organization. Marketing improves customers standard of living, it create employment opportunities and serve as a source of information to the organization.

Therefore one can say that marketing as well as marketing strategy play a very important role in commercial bank due to the nature of the product services and the number of commercial bank exist.

The marketing concept is the idea or theory that the primary purpose of the organization is to serve customers rather than the organization as a means of gaining profit. However, it would be suggested for the management to improve on the marketing research so as to know the customers desires and best way to satisfy than by using appropriate marketing mix. The bank management should focus its efforts on target customers and check target which cannot be done.

Finally, from the above statement, it can be logically considered that the impact of marketing strategies in bank have come to play a crucial and essential role in all organization.


5.4 Recommendations

In financial institution, the importance of marketing strategy had been noticed and emphasis in order to promote and enhance the achievement of organizational goal either at short or long on to the extent of profit maximization and efficiently depend greatly on the level of marketing strategy developed. In the light of the above, the following useful suggestions are preferred for improvement.

The marketer should design the marketing mix of the bank by using genuine marketing principles and appropriate tools in a manner that will facilitate easy realization of marketing objective of the bank i.e. winning more customer to its end.

The marketer as well as all the staff of the bank should be oriented toward attending to customer with greater care and politeness in order to create good will and maintain good image for the bank. Also the staff should be given training on human relating before assuming responsibility.

In formulating marketing policies, marketers should have due regard for those factors that have significant effort on successfulness of marketing strategies.

Also, the marketers should focus solely in entire public i.e employees, suppliers. Not only benefiting customers alone, failure to comply or embrace the society at large may be harmful to the bank operation and have unfavorable and negative results.

Finally, the marketer’s reaction must be evaluated and continually appraisal of service provided and customer’s wants must be undertaken to ensure that the existing markets are not costly at the same time the bank marketers should continue to search for means of developing the need of new target customer for the bank.


The Importance Of Marketing Strategy In Nigeria Banking Industry (A Case Study Of G.T.B Bank)


Project Material Download

3,000 Naira


The complete material will be sent to you in just 2 steps.

Quick & Simple…


Step One Purchase

Make payment of ₦3,000: through USSD Transfer, Bank Mobile App, ATM Transfer, or POS Transfer to:

Access Bank PlcAccount No.: 0811003731
Name: Samphina Academy
Account Type: Current

Or Click Here to pay with Debit Card

FOR CLIENTS OUTSIDE NIGERIA:
Click Here to pay with Debit Card ($15)
GHANA – Make Payment of 60 GHS to MTN MoMo, 0553978005, Douglas Osabutey 

  PAY WITH CRYPTOCURRENCY


Step Two Purchase

Send the following details through Text Message or WhatsApp Messenger | +234-8143831497

  • Payment Details 
  • Email Address 
  • The Importance Of Marketing Strategy In Nigeria Banking Industry (A Case Study Of G.T.B Bank)

The complete material will be sent to your email address after receiving your payment information | T & C Apply


  Contact Our Help Desk


You may also like:

⚠️ Need a different topic? Perform a quick search



Get A Complete Business Plan For Any Business In Nigeria

Business Plan for Businesses in Nigeria

  Business Plans in Nigeria


The Importance Of Marketing Strategy In Nigeria Banking Industry (A Case Study Of G.T.B Bank)


Disclaimer

This research material “The Importance Of Marketing Strategy In Nigeria Banking Industry (A Case Study Of G.T.B Bank)” is for research purposes and should be used as a guide in developing your research project / seminar work. For no reason should you copy word for word (verbatim) as samphina.com.ng will not be liable for any who copied the material.

The aim of providing this material is to reduce the stress of moving from one school library to another all in the name of searching for research materials. This service is legal because, all institutions permit their students to read previous projects, books, articles or papers while developing their own works. According to Austin Kleon “All creative work builds on what came before”.

samphina.com.ng is only providing this material “The Importance Of Marketing Strategy In Nigeria Banking Industry (A Case Study Of G.T.B Bank)” as a reference for your research. The paper should be used as a guide or framework for your own paper. The contents of this paper should be able to help you in generating new ideas and thoughts for your own research. Use it as a guidance purpose only.


How to defend your research work


This is a general guide on how to defend your research work:

1. Prepare For Questions:

If you are preparing for questions that may be asked during your defense, then your answers will flow smoothly and effectively. This will prove your knowledge on the subject e.g “The Importance Of Marketing Strategy In Nigeria Banking Industry (A Case Study Of G.T.B Bank)“, and strengthening your argument. Ask friends and family, read your work for them to listen to your presentation, and write down questions. You may be lucky the panel will ask you those you have already prepared on.

2. Strong Summary:

Summarizing your chapters will help keep your audience focused because it is easy for a mind to drift, so providing summaries will ensure your panel will follow along, even if they lose focus for a brief moment. Visual aides, such as graphs and power-point presentations can be very helpful. If you are going to use these, make sure you will practice your presentation with them.

3. Be Confident in Your Research Work:

Not knowing your topic “The Importance Of Marketing Strategy In Nigeria Banking Industry (A Case Study Of G.T.B Bank)” inside out will cause you to struggle and ultimately fail with your defense. You need to know the subject from every angle to ensure you are fully prepared for any question that may come your way.

4. Conclusion:

Reinforce your findings to conclude your defense. The finale of your presentation should focus on proving the work that has been done. You may need to recap on what has changed and remained unchanged, if is necessary.

5 . Listen:

Before you get defensive or recite a particular answer, make sure you truly understand the question being asked. Being a good listener is an important quality, because providing an inaccurate or off-topic answer will also weaken the validity of your paper.

Samphina Academy

Samphina Academy is an Online Educational Resource Center that is aimed at providing students with quality information and materials to aid them in succeeding in their academic pursuit.