AN EVALUATION OF MARKETING CONCEPT AND PROFITABILITY OF SOME SELECTED FINANCIAL FIRMS IN ABA, ABIA STATE

ABSTRACT

The basic objective was to empirically evaluate marketing concept and the impact on the profitability of selected financial firms in Aba, Abia state. The study made use of primary data which were obtained through administration of questionnaires in a field survey. The data collected from the returned questionnaires were analyzed using descriptive statistics (frequency and percentage) and chi-square (x2) technique. The empirical result from descriptive statistics indicates that the majority  of the  respondents were, females with 56.5%, fell into the age bracket of between 31-40 years, single with 54.3%, had B.sc./HND with 50%, civil servants with 32.6%, graded quality of bank service to be fair with 48.9%, spent above 55 minutes in the bank with 43.5% and graded bank staff and customer relationship to be good with 43.5%.The result of the chi-square (x2) analysis indicates that there was a significant relationship between application of marketing concept and bank profitability. It was recommended that the management of the banks is to improve services render to customers, they should employ more staff to render smoother services and to deliver training programmes to increase the knowledge of line managers and other staff.

TABLE OF CONTENT

Title page  ﾿ i

Declaration ﾿ ii

Certification ﾿ iii

Dedication ﾿ iv

Acknowledgement ﾿ v

Table of content ﾿ vi

List of table ﾿ ix

Abstract ﾿ x

CHAPTER ONE

INTRODUCTION ﾿ 1

1.1 Background of the Study ﾿ 1

1.2 Statement of the Problem  ﾿ 2

1.3 Objectives of the Study ﾿ 3

1.4 Research Questions ﾿ 3

1.5 Research Hypotheses ﾿ 4

1.6 Significance of the Study ﾿ 4

1.7 Limitations of the Study ﾿ 5

1.8 Scope of Study ﾿ 5

1.9 Profile of the Financial Firms ﾿ 5

1.10 Definition of Terms ﾿ 5

CHAPTER TWO

REVIEW OF RELATED LITERATURE

2.0 Marketing and Banking  ﾿ 11

2.1.1 Marketing Management ﾿ 12

2.1.2 Marketing Concept ﾿ 18

2.1.4 Marketing Environment and Communication ﾿ 21

2.1.5 Vital element of Marketing relevant to banking ﾿ 25

2.6 Summary ﾿ 25

CHAPTER THREE

RESEARCH METHODOLOGY

3.1 The Research Design ﾿ 28

3.2 Area of the Study ﾿ 28

3.3 Population of the Study ﾿ 28

3.4 Determination of the Sample Size ﾿ 29

3.4.1 Determination of sample size using Yaro Yamane formulae  ﾿ 29

3.5 Method of Data Collection ﾿ 31

3.6 Structuring the Instrument/retesting ﾿ 31

3.7 Method of Data Presentation ﾿ 32

3.8 Sampling Techniques Method ﾿ 32

3.9 Validity and Reliability ﾿ 32

CHAPTER FOUR

DATA PRESENTATION,  ANALYSIS AND INTERPRETATION OF RESULT

4.0 Introduction ﾿ 34

4.1 Rate of Return of Questionnaires for bank customers    ﾿ 34

4.2 Demographic Profile of the Bank Customers ﾿ 34

4.2.1 Gender of Bank Customers ﾿ 35

4.2.2 Age ﾿ 35

4.2.3 Marital Status ﾿ 36

4.2.4 Educational Attainment of Bank Customers ﾿ 37

4.2.5 Occupation ﾿ 38

4.3 Response to the Items in the Questionnaires to Bank Customers ﾿ 38

4.3.1 Grading of quality of service rendered by Bank for customers comfort ﾿ 39

4.3.2 Time spent by Customers in the Bank ﾿ 39

4.3.3 Grading of Bank staff and Customers Relationship ﾿ 40

4.3.4 Medium of Bank Communication to Customers ﾿ 41

4.3.5 Improving Bank Level of Performance ﾿ 41

4.3.6 Services to be improve by Bank ﾿ 42

4.3.7 Reason for change of Bank of Customers ﾿ 42

4.4 Demographic Profile of the Bank Staff ﾿ 43

4.4.1 Gender of bank customers ﾿ 43

4.4.2  Age ﾿ 43

4.4.3 Marital Status ﾿ 44

4.4.4 Educational Attainment profile of the respondents ﾿ 45

4.3 Testing Hypothesis ﾿ 47

CHAPTER FIVE

SUMMARY, CONCLUSION AND RECOMMENDATIONS

5.1 Summary ﾿ 51

5.2 Conclusion ﾿ 52

5.3 Recommendation ﾿ 52

REFERNCES