activities play a vital role in the survival and growth of any organization. In
recent time, marketing activities in the service industry have been posing
serious problems to the service operators. This is because of the competitive
nature and the increase in the number of services industries. The objective of
this paper is to examine the application of marketing concept in the banking
industry, the study is based on information gathered and collected from both
primary and secondary sources. Finding of the study revealed that applying a
dominant role in the banking industry. This study also revealed the important
and the benefit of applying the application of marketing concept in the Nigeria
banking industries. Therefore, the continued existence of any service industry
will depend on its ability to design and map out appropriate marketing
strategy. Date analysis for the study
was done simply and chi-square (X2) statistic was employed to test
further the result of the analysis to confirm that the impact of application of
marketing concept in the Nigeria banking industry.
TABLE OF CONTENT
Title page - - - - - - - -
Certification page - - - - - - -
Dedication - - - - - - - -
Acknowledgment - - - - - -
Abstract - - - - - - - -
Table of content - - - - - - -
1.0 Introduction - - - - - -
1.1 Background of Study - - - - -
1.2 statement of the problem - - - -
1.3 objective of the study - - - - -
1.4 Significance of the study - - - -
1.5 scope of the study - - - - -
1.6 Research Hypothesis - - - - -
1.7 Research questions - - - - -
1.8 Limitation of the study - - - - -
1.9 definition of Term - - - - -
2.0 Literature Review - - - - -
2.1 Zenith bank Plc Brief history - - - -
2.2 Product orientation era - - - -
2.3 The marketing orientation era
- - - -
2.4 Marketing concept - - - - - -
2.5 The impact and limitation of the modern marketing concept
2.6 Implementation of marketing concept - - -
3.0 Research methodology - - - - -
3.1 Research design - - - - - - -3.2 Population of the study - - - - -
3.3 Sample/sample techniques - - - - -
3.4 Research instrument - - - - - -
3.5 Data collection procedure - - - - -
3.6 data analysis techniques - - - - -
4.0 Presentation of analysis of data - - - -
4.1 Instruction - - - - - - - -
4.2 Data presentation - - - - - -
4.3 Data analysis - - - - - - -
4.4 Other techniques of testing hypothesis - - -
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Questionnaire - - - - - -
BACKGROUND OF THE STUDY
concept, the satisfying need and want of the target is better than the
competitors at a profit, need not to be over emphasized. Marketing can also be
in action or business of promoting and selling product or services. Though it
was rarely practice in the past by services industry. The laggard posture of
services marketers in applying this marketing philosophy could also be trace to
inseparability nature of services.
owing to the very nature of banking service, it ought not to be treated in
exactly the same way as other manufacturing firs,
marketing must essentially perform two different functions.
it must attract deposit on one hand
it must attract borrowers and users of services
on the other hand.
dualistic of banking business entails marking problem that is more complicated
than those confronting after business concern.
in recent times, there have been driven
from the market due to their inability to meet up with the N25 billion capital
banking industry now being the survival of the fittest has posed a lot of competitive
problems on the survivors bank, both the old and new generation bank which have
forced the marketing concept and its application in order to fight competition
favourably and make more profit.
1.1 HISTORICAL BACKGROUND OF THE CASE STUDY
International Bank Limited was established on 30 May 1990 and headquarters in
Lagos Nigeria as a private Limited Liability Company, the Bank was Licensed to
carry on the business of banking in June 1990. the bank name was changed to
Zenith bank Plc on 20 May 2004 to reflect its status as a public Limited
Liability Company the bank’s shares was listed on the Nigeria stock exchange
(NSE) on 21 October 2004 following a highly successful initial public offering
(IPO) Nigeria institution and individuals numbering over a million currently
own the shares of the bank. The bank’s main services delivery channels in
Nigeria are its business offices which as at 2011 had risen to about 330
branches and over 218 cash offices. These are located in prime business and
commercial centre in all states of the federation and the federal capital
territory (FTC) Abuja. Within the first decade of operations, the bank made its
mark in profitability and all other performance indices, and has maintained
this prime position till date.
marketing concept and its application is still new in our business organization,
researchers has noticed that some organizations are behind, because of the
Not accepting the consumer as the king.
Producing the product or service they could for
customers to choose.
Not adopting to the changing marketing
Wrong application of marketing concept
Not considering the positive impact created by
the application of marketing concept.
project is designed to tackle the following reach questions as it relates to
the Zenith Bank of Nigeria Plc.
to what extent had marketing concept created
impact on banking industry?
Would bank exist without applying marketing
Could anything be done to improve customer’s services
following hypotheses were formulated to guide the study the hypothesis is to be
tested at 0.5 alpha levels.
Ho: Marketing concept does not serve as a tool
for position impact in the banking industry.
Hi: Marketing concept serve as a tool for position
impact in banking industry.
Ho: The existence of Zenith Bank is not dependent
on the application of marketing concept.
Hi: existence of Zenith Bank is highly dependent
on the application of marketing concept.
OF THE STUDY
purpose of this study is to generally appraise the marketing department of
Zenith bank to identify the impact of marketing concept and its application in
their baking operation. But specifically they include:
To examine the impact created by marketing
concept and its application in the banking industry.
To find out whether lack of application of
marketing concept can really contribute to business failure.
To examine that the application is being
carried out by zenith bank Plc.
To identify the problem hampering effective
application of marketing concept by Zenith Bank of Nigeria.
To recommend to the growth of bank services.
OF THE STUDY
study is about application of marketing in Nigeria banking industry. It also helps
the public, especially the depositors to know the banks that are “sound” so as
to avoid risking their earned money to bank that are under distress, and the
investors in the industry will also know where to direct their investment.
also a study to find out whether lack of application of marketing concept can
really contribute to business failure.
OF THE STUDY
study is for a reasonably extent limited to the impact of application of
marketing concept in Nigeria banking industry.
right, it was supposed to carrier all Nigeria banks, but due to some constraints
are limited branches of Zenith bank Plc.
1.8 DEFINITION OF TERMS
Bank: Ag is defined as the number of
years of existence of a bank branch.
Bank: According to Hart (1931:1) bank or banker
is defined as a person or corporation carrying on the business of receiving
money and collecting of draft for customers subject to the obligation of
honoring cheques drawn upon them from time to time by the customers to the
extent of the amount available on their current accounts.
Banking: This can be defined as a process of accepting
money or deposits from the public and grating of loans.
Concept: According to Kotler (1983) it is the management concept that
holds the key task of an organization, is to determine the need, want and adopt
the organization to delivering the desired satisfaction more effectively and
efficiently than its competitors need a human need is a state of fact
depreciation in a person.
include basic physical need for knowledge and self expression (Kotler 1980)
maintains that went are desired for specific satisfaction of the needs as those
separately identifiable, essentially intangible actives that produce want satisfaction and that are not necessary tied
to the sale of produce or another services.
Can be defines as anything that can be offered to a market or for attention,
acquisition, user or consumption, and which might satisfy a want or need
according to Kotler Philip 91999: 238).
Market: Can be defined as any arrangement where
buyers and sellers meet together to exchange goods and services.
Segmentation: Can be defined as a
marketing strategy that involves dividing abroad target market into subsets of
consumers who have needs and application for the relevant goods and services.
refer to intangible offers in the market
Mix: Refers to a term used to describe
the combination of tactics use by a business to achieve its objectives of
marketing its products or services effectively to a particular target customer
Research: Can be defined as any organized effort
together information about market or customers.
Customer: Can be defined as a person or group of people
that are the final users of products and services generated within a social
Advertising; Can be defined as any paid form of
non-personal presentation and promotion of ideas, goods or services by an identifiable
sponsor to create awareness, inform, educate and persuade their target audience
to make a purchase.
Brand: Can be
defined according to Kotler Philip 92002: 4-04) as a name, sign, symbol or
design, or a combination of them, intended to identify the goods or services of
one sellers or group of seller and to different late them from those of
Trade Market: Can be defined as a distinctive sign or
indicator used by an individual, business organization or other legal entity to
identify for consumers that the product or services on or with which the
trademark appears originate from unique sources designated for a specific
market and to distinguish its product or services from those of others
Identity: Can be defined as an extension of your bank which includes everything
with your logo or contact information.