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Product Category: Projects

Product Code: 00007947

No of Pages: 85

No of Chapters: 5

File Format: Microsoft Word

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Banking today has become more innovative, competitive and attractive. The competition has driven strategies to be developed day in and day out, ideas become archaic and management of Banks would have to be constantly, developing ideas that will promote their services and lure more customers to their base to survive the terrain. Therefore, this study examines the effect of Relationship Marketing on Performance in the Banking Industry, with a Case Study of some selected Bank branches of First Monument Bank Plc. Survey Method was used in the research and data for the study were drawn from primary and secondary sources. Method of data analysis were Correlation Coefficient and Likert Scale that was performed by using SPSS Software. The findings of the study revealed that Relationship Marketing has positive impact on the performance of the Banking Industry in Nigeria. The work revealed that most customers are not familiar with the Bank’s Products, customers are not satisfied with the way the bank handles complaints and they as well  do not have confidence in the bank’s investment advice. It is recommended that good promotion be run on new products by the Bank Management Staff of FCMB complaints. Also Relationship Marketing requires the involvement of everyone in the organization in other for it to succeed effectively.


Chapter One


1.1 Background of Study 1

1.2 Problem Statement 3

1.3 Objective of the Study 4

1.4 Research Question 5

1.5 Hypothesis Statement 5

1.6 Significance of Study 6


Chapter Two

Literature Review

2.1 Overview 7

2.2 Definition of Marketing and Relationship

Marketing 10

2.3 Development of Relationship Marketing 12

2.4 Customer Retention 13

2.5 Customer Loyalty 14

2.6 Variables of Relationship Marketing 15

2.7 Scope of Relationship Marketing 16

2.8 The Basis for Effective Customer Relationship 18

2.9 Relationship Marketing Enhances Service Delivery 21

2.10 Customer Value Satisfaction as a Pre-requisite for

Relationship Marketing in Banking Industry 22

2.11 How Customer Relationship can be Strengthen 24

Chapter Three

Research Methodology

3.1 Study Area 27

3.2 Population and Sampling Technique 27

3.3 Method of Data Collection 28

3.4 Data Analysis 28


Chapter Four

Result and Discussion

4.1 Socio Economic Characteristics of Respondents 32

4.2 Based on the Relationship between the Customer

and the Bank 35

4.3 Year of Service 42

4.4 Five Year Financial Summary of the Bank 49

4.5 Determination of Level of Customer Satisfaction and

Its Relationship to Relationship Marketing 52


Chapter  Five

Summary, Conclusion and Recommendation

5.1 Summary 54

5.2 Conclusion 55

5.3 Recommendation 55


Appendix 1

Appendix 2






2.6.1 Trust 15

2.6.2 Commitment 15

2.6.3 Communication 16

2.6.4 Conflict Handling 16

2.7 Scope of Relationship Marketing 16

2.8 The Basis for Effective Customer Relationship 18

2.8.1 Mutual Trust and Fair Play 18

2.8.2 One-on-one Marketing 19

2.8.3 Service Augmentation 20

2.11.1 Internal Marketing 26

4.1.1 Sex of Respondents 32

4.1.2 Marital Status of Respondents 33

4.1.3 Educational Level of Respondents 33

4.1.4 Age of Respondents 34

4.1.5 Based on How long the Customers have held a

Bank Account with the Bank 34

4.2.1 Customer Loyalty 36

4.2.2 Based on Whether a Customer’s Relationship with the

Bank can lead to her Loyalty with the Bank 36

4.2.3 Based on the view that Customers Suggestion are

Respondent to, in the Service and Products Designed

For them 37

4.2.4 Based on the Customers Resistance of Competitive

Offers from other Banks due to her Loyalty with the

Bank 38

4.2.5 Commitment of the Bank and her Staff 38

4.2.6 Do you see yourself Banking with FCMB till the

Next 3years 39

4.2.7 How Reliable is the Trust you have built with FCMB 39

4.2.8 Level of Communication 40

4.2.9 Handling Complaints 41

4.2.10 Age of Respondents 41

4.2.11 Gender of Respondents 42

4.3.1 Knowledge about Customers 43

4.3.2 Level of Relationship with Customers 43

4.3.3 Does Relationship Marketing has Direct Impact on the

Performance as a Bank 44

4.3.4 Can Management Commitment help FCMB become a

Leader in Banking Industry 44

4.3.5 Is the view of the Customer taken into Consideration 45

4.3.6 Department of the Respondents 45

4.3.7 What position are you 46

4.3.8 How Satisfied are you with the Bank 46

4.3.9 Educational Level 47

4.3.10 Does Relationship Marketing Contribute to the

Performance of the Banking Industry in Nigeria 47

4.3.11  Does FCMB create Satisfaction through Service

 Quality 48

4.3.12  Does Effective Customer Service help FCMB build

 Loyalty 48

4.3.13 Does Customer Relation leads to Profitability 49






1.1 Background of the Study

Marketing is a human activity that has been with us for over a long period of time. It is as old as human settlement when division of labour enabled the accumulation of surplus ready for exchange (Robert, 1976). Modern marketing however started after the industrial revolution of 1950s when production and transportation system were improved.

Marketing literature has revealed that there is no single definition of marketing that is universally accepted. This may be due to different academic scholars and practitioners of business management backgrounds.

However, one of the earliest definitions of marketing as given by American Marketing Association (1960) is that, marketing is the performance of all business activities that direct the flow of goods and services as they move from the producer to user. A major weakness of this definition is that it starts after the goods and services have been produced. Many academic scholars as led by Kotler  (2004) lead to see this definition as an old conception of marketing. Marketing is about the discovering what goods and services consumers need and making conscious effort to providing these items and services for the consumers in places where they are, at the time that the consumers want them and at prices that they are able and willing to pay. As service providers, the banking sector is not an exception.

In service delivery, the nature of banking in Nigeria has gone through various stages of transformation. Traditionally the banks were pre dominantly occupied in just cash related activities like opening accounts, accepting deposit, paying cash as, well as giving out loans to customers.

However, in the wake of competition and technological advancement, banks in Nigeria have been more innovative, crafting new ways of reaching out to prospective customers and retaining more customers to their base. This has enhanced the approach for banks to adopt good marketing strategy that will serve both the interest of the customer and that of the banks. Also, since the products and services offered by the banks are very similar, it therefore, will affect growth and profitability in the long run if sustainable strategies are not adopted.

It is on this note that relationship marketing is seen as an important area in service marketing. Relationship marketing is a tool from which customer loyalty can be secured and, as a result, the attainment of higher competitiveness and enhanced customer satisfaction can be achieved (Payne, 2002). This stage has moved from identification, packaging and satisfaction of customer need to a level that creates, maintains and enhances a strong relationship with the customer and other stakeholders (Kotler, 2004).

Among banks, even those at the global level, relationship marketing is taken into consideration as the ideal way to create and maintain long-term relationships with customers (So and Spece, 2000). It is a concept that is capable of identifying marketing opportunities, reducing business risks, and improving business planning and decisions thereby leading to providing quality customer services.

1.2 Problem Statement

Banking services in Nigeria have become more competitive; leading to loss of skilled manpower and customers to more vibrant and customer focused ones. Today’s banking industry is changing rapidly. With the development of international economy and competitive markets, banks are also affected (Gilaninia & et al, 2011). Also, the level of competition has compelled banks to look out for strategies that will promote sustainable growth and profitability.


The down turn in Nigeria’s economy is adversely affecting the banking operations so much that banks that fail to improve their services to customers are facing the difficulties of reduced profit earnings, less market share, liquidation and closing down of their operations, as customer retention is cheaper than customer acquisition (Peppers and Rogers 1993).

Furthermore, it cannot be over emphasized that in service delivery system it is the people that make the difference. When there is no work motivation, the organization is not committed to the employee work satisfaction and the general concept of internal marketing is not employed; then there is a problem (Bell, 2004).

Technology has consistently enhanced the service delivery system, but by the nature of it, it only serves as a short term strategy to attain competitive advantage. It eventually becomes affordable for all other competitors to adopt it to augment their services, and eventually they offer very similar product and services. The problem of how banks will differentiate themselves from competition and gain customer attention, patronage and loyalty still lingers (So and Spece, 2000). Hence, the proper response to these problems will be in the area of relationship marketing.


1.3 Objectives of the Study

The general objective is to determine the effects of relationship marketing on bank performance. While the specific objectives will be to:

1. Examine the socio-economic characteristics of the respondents;

2. identify customer relationship marketing strategies adopted by the banks;

3. ascertain the level of customer satisfaction with relationship marketing;

4. ascertain the relationship between relationship marketing and customer satisfaction;

5. ascertain the level of the bank performance;          


1.4 Research Question

1. What are the socio-economic characteristics of the respondents?

2. What are the customer relationship marketing strategies that are currently adopted by the bank?

3. What is the level of customer satisfaction?

4. What is the relationship between relationship marketing and customer satisfaction?

5. What is the level of the bank performance?


1.5 Hypothesis Statement

H0 =   There is no significant relationship between relationship marketing 

 and customer satisfaction .

H0 =   There is no significant relationship between relationship marketing

 and bank performance.


1.6 Significance of the Study

This research work will be of importance to the Nigerian banks in terms of widening their understanding of the practical relationship marketing strategies that banks are adopting. It will also address the question of whether or not relationship marketing is capable of impacting positively on the performance of banks in Nigeria

The work will add to the research purpose of relationship marketing in banks as a strategy to sustain growth and profitability. It will identify the preference of customers as to which services they prefer doing with the banks. Also, since relationship marketing could reduce the risk of operation in banks and identify opportunities, the management of First City Monument bank Plc will appreciate its adoption as a new strategy for winning customers and maintaining them.

To the academic pubic, it will provide a basis for further studies in the area of relationship marketing. This is because further studies in this area will identify the area covered and further dwell on the untapped field of research.



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