Effect Of Selected Marketing Strategies On Profitability Of First Bank Nigeria Plc In Aba, Abia State

ABSTRACT

This research is a study on the effect of marketing strategies on bank profitability of First Bank of Nigeria Plc in Aba, Abia State. This study was chosen because of the problems and challenges in measuring marketing strategies in relation to profitability which several marketing literature as well as Journals have failed to address. The broad objective was to examine the effect of marketing strategy on bank profitability as used by the First Bank of Nigeria Plc. Aba. Data used in this study was primary and secondary data, primary data was sourced through the use of questionnaire to solicit respondent opinion while secondary data was obtained from available literature on marketing strategies. The data collected for the study was analyzed using descriptive statistics, correlation coefficient and regression model. Findings showed that product strategies were found to be statistically significant at 10% with a positive value. Findings also showed that distribution strategies were found to be statistically at 1% and positively related to bank profitability. The researcher recommends that effectively understanding the customer needs and wants before making sales presentation or proposal will boost banks profitability. The researcher also recommends that banks should segment their market based on customer knowledge of their product, these will also increase bank profitability.  

TABLE OF CONTENTS 

Title Page ﾿ i ﾿

Declaration ﾿ ii

Certification ﾿ iii

Dedication ﾿ iv

Acknowledgement ﾿ v

Table of Contents ﾿ vi

List of Table ﾿ ix

Abstract ﾿ x

CHAPTER ONE

INTRODUCTION

1.1 ﾿ Background to the Study ﾿ 1

1.2 ﾿ Statement of the Problem        ﾿ 3

1.3 ﾿ Objectives of the Study ﾿ 4

1.4 ﾿ Research Questions ﾿ 5

1.5 ﾿ Research Hypothesis ﾿ 5

1.6 ﾿ Scope of the Study ﾿ 5

1.7 ﾿ Significance of the Study ﾿ 6

1.8 ﾿ Definition of Terms ﾿ 6

CHAPTER TWO

REVIEW OF RELATED LITERATURE

2.1 ﾿ Conceptual Framework ﾿ 9

2.1.1 ﾿ Concept and Role of Marketing ﾿ 11

2.1.2 ﾿ Role of Marketing in Banking Sector ﾿ 12

2.1.3 ﾿ What Bank Marketing Is All About ﾿ 14

2.1.4 ﾿ Bank Marketing Strategies ﾿ 16

2.1.5 ﾿ Influence of Marketing Strategies on Return on Investment ﾿ 20

2.2 ﾿ Theoretical Framework ﾿ 22

2.2.1 ﾿ The Dynamic Theory of Marketing Mix Model ﾿ 22

2.2.2 ﾿ The Banking Product and Services ﾿ 25

2.2.3 ﾿ Characteristics of Bank Services ﾿ 25

2.2.4 ﾿ Reasons for Marketing of Banking Services and Product ﾿ 26

2.3 ﾿ Empirical Framework ﾿ 27

2.3.1 ﾿ Approaches to Marketing Strategy and Bank Industry ﾿ 29

2.4 ﾿ Brief History of First Bank of Nigeria Plc. ﾿ 32

CHAPTER THREE

RESEARCH METHODOLOGY 

3.1 ﾿ Research Design ﾿ 34

3.2 ﾿ Area of Study ﾿ 34

3.3 ﾿ Population of the Study    ﾿ 35

3.4 ﾿ Sample Size and Sample Techniques ﾿ 35

3.5 ﾿ Method of Data Collection ﾿ 36

3.6. ﾿ Method of Data Analysis ﾿ 36

3.7 ﾿ Validity of Research Instrument ﾿ 36

3.8 ﾿ Reliability ﾿ 37

3.9 ﾿    Model Specification ﾿ ﾿ 37

CHAPTER FOUR

PRESENTATION AND ANALYSIS OF DATA

4.1 ﾿ To Examine Whether Pricing Strategy Is Adopted by First Bank 

Nigeria Plc. ﾿ 39

4.2 ﾿ Examining the Relationship between Advertising Strategies 

and Bank Profitability ﾿ 41

4.3 ﾿ Influence of Product Strategies on Bank Profitability ﾿ 42

4.4 ﾿ Effect of Distribution Strategy on Bank Profitability ﾿ 43

CHAPTER FIVE

SUMMARY, CONCLUSION AND RECOMMENDATIONS

5.1 ﾿ Summary of Findings ﾿ 44

5.2 ﾿ Conclusion ﾿ 45

5.3 ﾿ Recommendations ﾿ 46

References

Appendix