Marketing Concept in Banking Service

Marketing Concept in Banking Service

The marketing concept whose major focus is customer satisfaction at a profit to the firm is so obligations in the marketing classroom that the unquestioning student of marketing is led to believe that firms who fail to employ it are business criminals. Some classical articles implicitly led the researcher to believe that marketing concept is undimenstional in terms of customer orientation. For example Theodore leutide (1968,P51) made these two statements “ the business must do what suits the interest of the customer” “ an industry is a customer satisfying process” several studies before the present on attempted to determine whether companies have adopted the marketing concept.

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More recently C.P. M.C Namara (1972, P53) used a more collaborate and somewhat more direct approach in conceding that customers goods companies tended to adopt and implement goods firms.

J.H Donnelly and J.M Ivancheih (1969, p60) used of four point criterion and concluded members of the banking community have been rather sluggish in embracing the marketing concept and exhibited both a misunderstanding of the major principles of the concept and a failure to reflect these in day to day operation” R.H. Brien and J.E. suffered charged banks changers the marketing concept in banking from Myth to reality.

R.J. Keith (1965, p35) wroth article suggested some of the difficulties firms encounter in achieving the understanding and successful practice as an industry is going through that process.”

P Kotler (1973 p212) and also Washington D.C (1973, P24) citing the consumer movement as an opportunity instead of a threat to banking stated, instead of future stocks the industry might experience future confidence.

With the above studies, it would be fanciful to believe that commercial banks have fully adopted and are committed to the marketing concept even in the developed economics, much less the developed one.

The social science have taught us how to differentiate between support of a value as an attitude, that is, “ I believe in marketing” and the actual realization of the values in behavioral terms practiced by policy making and other levels of management of marketing on an ongoing daily basis.


Although no studies know to us and approach have been done within the country on this critical topic of marketing concept in the commercial banks, evidences exist and abound to the effect that commercial banks in Nigeria are far from practicing marketing concept in the service they offer customers.

This is demonstrated by Nwakwo when he commented in (1980 P66) “ The distribution of commercial banking facilitates populations and of land areas of the states. This impedes the development of banking habit and the mobilization of savings, it also impedes effective marketing in the industry since this requires that bank service be made convenient and accessible to the people, this cannot be said of bank services in the country today when 197, 000 people have to compete for one bank office and each bank has to cover an area of over 177 square kilometers”

“The poor quality of bank service is another significant feature.

One has to visit a bank office in Nigeria to notice long gives and the struggle of customers to get servea. It could take as much as an hour to refer a cheque and in some cases, one appears to be left with the impression that the counter staff to be pride in longs queues and the number of people seeking their customer by ibid, (186, P. 67)

Commenting also on the problem of location line Ani E.O (1980, P 71) stated, “ The long queues and the long waiting time in banks located in the urban centers indicated that even these areas are not adequately served. The result is that people spend on entertainments and ceremonies, including served with banks and better educated.

G.O Nwankwo (1980, P.169) said that if the Nigerian financial system is ill equipped to mobilize domestic saving, it follows that it is also ill equipped for effective lending. The banker should understand that he is in business to sell financial services. Effective lending therefore requires that he should effectively market these services.

He also commented that their present structure, the Nigeria commercial banks are ill equipped for and effective mobilization of personal saving. Banks offices are too few in ration to population and size of the country. There are frustrating delays of the counter and long delays in making enquiry before opening accounts.

J.A Schumpeter (1998, P 35) regarded that banking system “ as a key agent in the process of development” banks may set their country on the road to continuing growth or they may waste its resources in uneconomical or fraudulent activities.


There are many people that discussed about the school of thought within the subject area which include the following:

Shankey C. S (1985 PP 22- 25) the chairman board of Directors of Nigeria international bank, once said during an official opening that “ our philosophy states that the only way we can make positive contribution to the development of financial services in Nigeria is to ensure that the quality of service must be that of excellence, delivered with speed and creativity” He also said that “ the standard of professionalism, in banking service in Nigeria is very poor deplorable, but that his bank is fully equipped to provide customers banking services of an international standard and would also contributed positively to the economic growth of Nigeria”.

Nwankwo G.O (1980, P. 126) remarked, “ It is important indeed, imperative that bankers and practical bankers at that should understand and fully appreciate the importance and strategy of marketing financial service” this is derived party from the fact banking like all service industry depends on the market place for its profitability and survival and must adopt to the changing requirement and environment of the economy which it service. He believes that the Nigeria banks have failed in effective marketing.

Balongu S.A (1983, P11) once said “ Banks must have to change their present orientation about themselves to modern times. They should desist from seeing themselves as lenders of money. They must realize that they are in financial business as opposed to their present misconception about themselves. He also stated “ There is the need to make use of professional marketing men in top bank management posts apart from the marketing division. They can incorporate some of the professional marketers into the membership of their board of directors train some in the preliminary banking procedures so that they can be appointed as branch managers preferences could be given to a non- marketing man that had once worked in the bank as a clerical officer or in other junior or even middle posts. All these could depend on the training organized by the bank and this should consider marketing ideas in the banking profession.

In an article written by Adesunloye (1989, P67 –70) “ Role of marketing in banking said that “ The success of a bank depends on its ability to satisfy customers financial needs and the effective practice of marketing in the banking environment, is becoming recognized as a vital objective. The fact that gradual transition from public relation “ libels from bank officer title is taking place or has already taken place in the banking industry, manifest itself on the vital objectives.

The banks should be concerned with the satisfaction of customers since the customers are the lifeblood of the on organization. If customer are attended to and treated well with respect, they will always come back to patronize you.


Most professionals or business philosophers have gone through this school of thought to the problem of this study, they are as follows.

Kotler Philip (1987, P 120) one of the worlds leading authorities in marketing defined marketing concept as “ The marketing concept holds that the key to achieving organizational goals consists in determining the needs and wants of target markets and delivering the desired factions more effectively and efficiently than competitor” the marketing concept starts from the firms target customers need and wants that is determining what the customers want and development products to serve these needs at a profit and by so doing maximizing customers satisfaction.

Nwabuzo Isaac C (1985, P13) carried out a research. He made use a sample of 200 customers. These customers were made up of businessmen, civil servants and students from the sample, the researcher found out that the complaints made by customers were not on the services rendered by banks, but the location of the banks and the fact that the nonchalant attitude of bank officers toward customers has made them to consider location and convinces instead of services. He also found out that banks were yet to start advertising. May be if the researcher had used a larger sample and not selected the sample, that is if they were not only made up of businessmen, civil servants and students, his findings would have been different, this would further influenced his conclusions.

Drucker Peter (1964, P94) Who is also the worlds leading writer in the field of management makes the importance of the customers and marketing concept clear when he said that “ it is the customer who determines what a business is. It is the customer alone whose willingness to pay for a product or service converts economic resources into wealth, things into goods, the truth of Peter Drucker’s statement cannot be over emphasized infact there is evidence to that. The maxim, which says that the customer is always right has its origin in the earliest writings on economic and social theory. What the customers thinks he is buying, what he considers as value determines what a business is, what it produces and whether it prosper.

As farback as 1770, Adam Smith a know writer in economic recognized the importance of the marketing concept when he wrote that “ consumption is the sloe and only purpose of all production and the interest of the producer ought to be attended to, only so far as it may be necessary for promoting that of the consumer. If the customer’s needs are know and the right products are produced to satisfy their needs, there would be a constant consumption pattern, which is also a help to production.

Ijeoma Chidi k (1980, P92) in his article “ The role of marketing concept in the service industry” found out that the service industry in Nigeria do not really know the meaning of marketing and the role it play in industry. As such, managers of service industry make sure that they render their service to customers as long as their main objectives of making profit is achieved. This is done at the customer expense from findings, he concluded that the marketing concept is still every unknown in the service industry, and for the marketing concept to be applied, it would take some time to first understand the whole idea of marketing.


The researcher used different methods in studying the problem hindering the operational effective application of marketing concept in banking service with commercial banks in Enugu as a case study to find solution to it. The materials used are of follows.

v Primary Data this used primary data collected through a survey of commercial banks at Okpara Avenue Enugu.

The researcher also observed at first the activities of the establishment under study. This gave the researcher greater insight into views of the workers of the commercial bank, Enugu.

Secondary data: the researcher got some of her secondary data from write up about banking services in newspaper, magazine some were from journal.

Research Instrument: In order to gather enough and relevant information needed for this, the research instrument consisted also of questionnaire.

The researcher has oral interview with staff of commercial bank to supplement the much-needed information. She also stated some reasonable number of hours in the establishment to observe for her the works of the commercial bank in order to supplement the information she gathered from questionnaire and oral interview.

Questionnaire Design: In the questionnaire design, the researcher used “ yes or No options, multiple choice questions, ranking methods and open ended questions.

Population of the study: The total population of the staff in Enugu State commercial bank Enugu was reduced from the number seven hundred and thirty (730) to three hundred and forty employees after most of the workers were sacked sometimes last year (2000). And it comprises of fifty (50) senior staff a two hundred and ninety (290) junior staff.

The data is shown in the table below population of the study

Senior staff Junior staff Total
50 290 340

These are the different method the researcher used in studying the effective application of marketing concept in the Bank service with a case study of commercial bank in Enugu State.


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 Marketing Concept in Banking Service

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