TABLE OF CONTENTS
CHAPTER ONE
1.0 INTRODUCTION
1.1 BACKGROUND
OF THE STUDY
1.2 HISTORICAL
BACKGROUND OF FIRST BANK NIG. PLC.
1.3 STATEMENT
OF THE PROBLEM
1.4 OBJECTIVES
OF THE STUDY
1.5 SIGNIFICANCE
OF THE STUDY
1.6 RESEARCH
QUESTION
1.7 RESEARCH
HYPOTHESES
1.8 SCOPE
OF THE STUDY
1.9 DEFINITION
OF TERMS MARKETING
CHAPTER TWO
2.0 LITERATURE
REVIEW
2.1 STRATEGY
AND OPERATIONS OF FIRST BANK OF NIGERIA PLC
2.2 I.T
INNOVATIVE METHOD OF MARKETING SERVICES USED BY FIRST BANK OF NIGERIA PLC
2.2.1 E-
BANKING- (ONLINE MARKETING)
2.2.2 CORE
BANKING
2.2.3 CORE BANKING SOLUTIONS
2.2.4 CORPORATE AND INVESTMENT
BANKING
2.2.5 MOBILE BANKING
2.2.6 PLASTIC MONEY
2.3 BANK
MARKETING.
2.3.1 AWARENESS AMONG CUSTOMERS
2.3.2 QUALITY AS A KEY FACTOR
2.3.3 GROWING COMPETITION
2.4 MARKETING APPROACH IN FIRST BANKS
ON NIGERIA PLC.
2.5 FEATURES OF BANK MARKETING IN
FIRST BANK OF NIGERIA PLC.
2.6 STRUCTURE OF BANK MARKET
2.7 THE MARKETING MIX IN BANKING
SECTOR SERVICE
2.8 DEVELOPMENT IN MARKETING SCOPE AT
THE ASPECT OF SERVICE
2.8.1 MARKETING
2.8.2 INTERNAL MARKETING
2.8.3 ONLINE NETWORK MARKETING
2.8.3 RELATIONSHIP MARKETING
CHAPTER THREE
3.0 RESEARCH
METHODOLOGY
3.1
RESEARCH DESIGN
3.2
POPULATION OF THE STUDY
3.3
SAMPLE SIZE DETERMINATION
3.4
SAMPLE PROCEDURE AND SAMPLING
TECHNIQUES
3.5
DATA COLLECTION PROCEDURE
3.6
VALIDATION AND RELIABILITY OF THE
INSTRUMENT
3.7
METHODS OF DATA COLLECTION AND
ANALYSIS OF DATA COLLECTION PROCEDURE
3.8 DATA
MANAGEMENT AND ANALYSIS
CHAPTER FOUR
4.0
DATA PRESENTATION AND ANALYSIS
4.1 PRESENTATION
AND ANALYSIS OF PRIMARY DATA
4.2 TEST
OF HYPOTHESIS
CHAPTER FIVE
5.0
FINDINGS, SUMMARY, CONCLUSION AND
RECOMMENDATIONS
5.1 FINDINGS
5.2 SUMMARY
5.3 CONCLUSIONS
5.4 RECOMMENDATIONS
REFERENCES
APPENDIX
CHAPTER ONE
1.0 INTRODUCTION
1.1 BACKGROUND OF THE STUDY
A bank is a financial institution
licensed by a government. Its primary activities include borrowing and lending
money. Banks no longer restricted themselves to traditional banking activities,
but explored newer avenues to increase business and capture new market. Grönroos.,
(1990)
v In the 1990s, greater emphasis being
placed on technology and innovation.
v New concept like personal banking,
retail banking, total branch automation, etc were introduced
Banks’ activities can be divided into
retail banking, dealing directly with individuals and small businesses:
business banking, providing services to mid-market business; corporate banking,
directed at large business entities; private banking, providing wealth
management services to high network individuals and families: and investment
banking, relating to activities on the financial markets. Most banks are
profit-making, private enterprises. However, some are owned by government, or
are non-profit organizations.
Marketing approach in banking sector
had taken significance after 1950 in western countries and then after 1980 in Turkey. New
banking perceptiveness oriented toward market had influenced banks to create
new market. Banks had started to perform marketing and planning techniques in
banking in order to be able to offer their new services efficiently. Marketing
scope in banking sector should be considered under the service marketing
framework, Performed marketing strategy is the case which is determination of
the place of financial institutions on customers’ mind. Bank marketing does not
only include service selling of the bank but also is the function which gets
personality and image for bank on its customers’ mind. On the other hand,
financial marketing is the function which relates uncongenitalies, differences
and non similar applications between financial institutions and judgement
standards of their customers.
The reasons for marketing scope to
have importance in banking and for banks to interest in marketing subject can
be arranged as:
Change in demographic structure:
Differentiation of population in the number and composition affect quality and
attribute of customer who benefits from banking services. Intense competition in
financial service sector: The competition became intense due to the growing
international banking perceptiveness and recently being non limiting for new
enterprises in the sector. Increase in liberalization of interest rates has
intensified the competition.
Bank’s wish for increasing profit:
Banks have to increase their profits to create new markets, to protect and
develop their market shares and to survive on the basis of intense competition
and demographic chance levels.
1.2 HISTORICAL BACKGROUND OF
FIRST BANK NIG. PLC.
First Bank is one of the oldest
financial institutions in Nigeria
and was the first bank to be established in West Africa.
The bank was incorporated as a limited liability company in March 1894 and was
listed on The Nigerian Stock Exchange in March 1971. Following the Central Bank
of Nigeria’s (“CBN”). induced industry-wide consolidation in 2005, the bank
acquired its merchant banking subsidiary. FBN (Merchant Bankers) Limited and
MBC International Bank Plc. The bank offers a wide array of financial services
to a diverse customer base through its local and offshore offices, including
465 branch offices country wide and 532 ATM’s. In addition to growing
organically through new products and branch development, other viable domestic
acquisitions are being explored. The intention is to extend the branch network
to 600 by the end of 2008.
1.3 STATEMENT OF THE PROBLEM
Primarily, Banks are regarded as only
interested in loan and saving and other related transaction but it is quite
certain that beyond that, banks do engages themselves in marketing activities.
To this effect, the problem of this research work is to know the extents and
ways in which the banks carry out their marketing serving such as making use of
E-banking, Core - Banking, corporate banking, Mobile
banking, Plastic money. NRI banking etc in carrying out their marketing
services.
1.4 OBJECTIVES OF THE STUDY
The aim of this research work is to
analyze the marketing of banking services and the means in which the services
are rendered by the banks. It will go a long way to unveil the new innovative
method of marketing services used by banking sector such as E-banking, Core -
Banking, corporate banking, Mobile banking. Plastic money. NRI banking etc, it
will also investigate into the use of Marketing mix of banking sector in
marketing services which involve the analysis of the Banks Products, Price,
Pricing, Place, Promotion, Process, Physical evidence. To examine the level of
market service delivery in First Bank Plc Owerri in relation to Information
Technology (IT) innovations To examine the employees’ perception of the effects
of IT innovations on market service delivery in First Bank Plc Owerri
1.5 SIGNIFICANCE OF THE STUDY
This work though will be carried out
in reference First Bank PLC, the findings can be significantly applied to the
banking industries at large. The essence of investigating into the role of
marketing of banking services is to objectively unveil to improvement it has
made in the banking industries in regard to the banking services delivery.
1.6 RESEARCH QUESTION
In order to achieve it aims, these
project will try to offer answers to the following questions:
1. Has the marketing of banking
services in the banking industries improved the banking Industries?
2. To what extent have the E-banking
helped in marketing of banking services
3. Is the use of Core - Banking still
in existence?
4. Is corporate banking necessary in
service delivery’?
These and more are the questions this
research work has set out to solve.
1.7 RESEARCH HYPOTHESES
For a clearer
understanding of the research work and validation of information gotten for the
purpose of this research, some hypothetical statement was formulated which will
be tested later in chapter four (4). The hypotheses comprise of two: Null
hypothesis (H0) and Alternate hypothesis (Hi). the null
hypothesis is bound for rejection if the calculated value is greater than the
observed value.
Hypothesis I
Ho: The use of
New innovative method of marketing services in the marketing of banking has not
contributed to the improvement of the services delivery in first bank plc.
Hi: The use of New innovative method of
marketing services in the marketing of banking has contributed to the
improvement of the services delivery in first bank plc.
Hypothesis II
H0: The application of marketing Mix strategies
has not enhanced the quality of service delivery and customer satisfaction in
first bank Nigeria plc.
Hi: The application of marketing Mix strategies
has enhanced the quality of service delivery and customer satisfaction in first
bank Nigeria plc.
1.8 SCOPE OF THE STUDY
This study concentrated on First Bank
PLC and it does not in totality analyzed the functionality of the bank but
limits it self on the marketing of banking services. This study therefore
examines the role the marketing of banking services ,a enhancing the marketing
of banking services. Considering these factor the data and response to the
questionnaire were limited to staff and customers of First Bank PLC Owerri.
1.9 DEFINITION OF TERMS
MARKETING
According to the Oxford Advanced
Learner’s dictionary, marketing is the activity of presenting, advertising and
selling an organizational products or services in the best possible way.
BANKING SERVICES
Banking services can be seen as those
business transactions and services the banks carries out among them and their
customers to generate income for the banks and to serve the bank’s need.
E-BANKING
The remote deliver of new and
traditional banking products and services through electronic delivery channels.
(FFIECJ).
E-banking is an abbreviation for
electronic banking. E-banking allows you to conduct bank transactions online,
instead of finding a bank and interacting with a teller. Most U.S. banks
offer E-banking, though the extent of the services may vary. For instance, some
banks may offer unlimited bill pay options while others restrict online
activity.
CORE BANKING
Core Banking is normally defined as
the business conducted by a banking institution with its retail and small
business customers. Many banks treat the retail customers as their core banking
customers, and have a separate line of business to manage small businesses.
Larger businesses are managed via the corporate banking division of the
institution. Core banking basically is depositing and lending of money.
COOPERATE AND INVESTMENT BANKING
Corporate & Investment banking is
a term used to describe a range of banking and investment products and services
delivered to corporate clients, financial institutions, governments, agencies
and, in some cases, to wealthy or ‘high-net-worth’ individuals and families,
MOBILE BANKING
Mobile banking (also known as
M-Banking, SMS Banking etc.) is a term used for performing balance checks,
account transactions, payments etc. via a mobile device such as a mobile phone
or Personal Digital Assistant (PDA).
PLASTIC MONEY
Generic term for all types of bank
cards, credit cards, debit cards, smart cards, etc.
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