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IMPACT OF MARKETING STRATEGIES ON DEPOSIT MOBILIZATION IN BANK

IMPACT OF MARKETING STRATEGIES ON DEPOSIT MOBILIZATION IN BANK

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TABLE OF CONTENTS

Title Page

Declaration

Certification

Dedication

Acknowledgment

Abstract

Table of content

 

CHAPTER ONE – INTRODUCTION

1.1       Background of the study

1.2       Statement of Problem

1.3       Purpose of the Study

1.4       Research Questions

 

1.5       Research Hypotheses

1.6       Significance of the study

1.7       Scope of the Study

1.8       Limitation of the study

1.9       Definition of terms

  

CHAPTER TWO – REVIEW OF RELATED LITERATURE

CHAPTER THREE – RESEARCH METHODOLOGY

3.1       Introduction

3.2       Research Design

3.3       Population and Sample Used

3.4       Population of Study

3.5       The population sample

3.6       Sample size

3.7       Sources of Data information

3.8       Method of Data Collection

3.9       Administration of Research Instrument

 

CHAPTER FOUR – PRESENTATION, ANALYSIS AND INTERPRETATION

4.1       Presentation of Data

4.2       Data Analysis

4.3       Test of hypothesis

 

CHAPTER FIVE – SUMMARY CONCLUSION AND RECOMMENDATIONS

5.1       Summary of the study

5.2       Conclusion

5.3       Recommendation

References

Appendix

 

CHAPTER ONE

INTRODUCTION

1.1       Background of the study

The application of marketing concept in business organization in Nigeria today is yet to reach its complete awareness, talk more of banking industry where it is believe that marketing can only practice as a minima level of exceptional classes. Moreover, a well-designed marketing strategy can make all the difference between success and failure in the market place, ideally drawn from the market research, it focus on the ideal product mix to achieve maximum profit potential.

The need for a marketing strategy in banks started because of intense competition, not from other banks but also from other financial companies, building society, credit loans insurance companies etc. also this completion within and outside the banking sector had resulted into reforming strategies that is marketing strategies.

 

IMPACT OF MARKETING STRATEGIES ON DEPOSIT MOBILIZATION IN BANK

It is very necessary for organizations to understand customer’s behavior, his wants, the price he is ready to pay for satisfying those wants, his alternative in terms of suitability, quality, value, availability etc. Therefore, all these do change overtime as the interacting variable change.

In fact, marketing must constantly seek to identify and measure the dynamics of the societal behavior. It is to this end that I have chosen to write a project and the subject matter, marketing at all levels of dealings, be it Banking or No-Banking industry are pleased with the options and zenith international bank is not an exception to this golden injunction. This research work however will tend to evaluate. Therefore, this study aimed to examine the impact of marketing strategies on deposit mobilization in bank with a locus on the deposit banks in Nigeria.

 

1.2       Statement of Problem

Effective advertisement is lacking in the contemporary deposit banking system which has also taken a paramount and salient feature in determining the survival of bank among competitors. However, most of these banks failed to choose an effective medium of advertisement as one of the strategic marketing process to counter their competitors in the banking sector.

 

The study is aiming at find out several challenges facing the bank and these arise from the following problems areas. Thus, inability of organizing to fully identify and understand customer needs, develop product(s) and satisfy these needs profitably.

Similarly, the wrong application of a marketing strategy on certain segment of the market were such application require a careful use of the marketing mix had also been observed as one of the limiting factors against the achievement of an improve performance in the banking sector, for instance, the 4ps (price, place, product and promotion).

Most deposit banks performance has been hindered because they failed to conspire and placed high importance to these concepts. Therefore, this study aimed to examine the impact of marketing strategies on deposit mobilization in bank.

 

1.3       Purpose of the Study

The objectives of this project is to examine the impact of marketing strategies on deposit mobilization in bank. Thus, which includes the degree of awareness among the banks as to who their customers are, the quality of the deposit rendered and the profits recorded from marketing operations compared with their competitors.

An examination of the extent to which policy and regulatory guidelines effect market operations as well as the bank’s own marketing strategies and organization polices. Finally, to impact the marketing of bank’s deposit on the development of the banking industry in particular, and the Nigeria economy in general.

 

1.4       Research Questions

In line from the problem stated above, this research work would examine the following specific questions.

  1. Does intensive advertising have significant impact on the deposit bank performance?
  2. How does bank deposit mobilization identify and understand the customers need and desire to satisfy them profitably?
  3. Does market strategy have a prudent management in the banking Sector?
  4. How will market strategy affect the operational efficiency in the banking sector?

 

1.5       Significance of the study

In Nigeria, deposit banks are very important because they are responsible in conjunction with central bank of Nigeria (CBN) for the supply and redistribution of money in the economy. Furthermore, this research work is of immense importance to marketing managers as it serves as a reference for them in terms of finding solutions to most problems that hinder the development of banking services.

The research is also of importance to the staff of (Zenith International bank) as it provides and empower them on how to improve their services rendered to customers and to market these services better. The impact of marketing strategies on deposit mobilization in bank.

The study is also important to the management of Zenith international bank and other banks as it will give an insight into some of the problems that retard profitability, efficiency and effectiveness which bring about low performance level.

Being an academic researcher, the study will be of great importance to the academic community as it will contribute to the existing knowledge in the area of marketing strategies, other researcher will also benefit from this research work as it will enhance their knowledge, perception and understanding of market strategy concept. The research will also serve as a basis for further research into market variables that influence performance.

 

Definition of terms

Marketing Strategies: A process that can allow an organization to concentrate it limited and scare resources on the greatest opportunities to increase sale and achieve a competitive advantage

Deposit: When you put money into a bank account. The impact of marketing strategies on deposit mobilization in bank.

Deposit Mobilization: This is related to the creation of credits by making finances and by investing in various financial markets through the bank.

Customer: In brief, a person or organization that buys goods or services from a store or other business.

 

Conclusion

In conclusion, for any organization to experience positive change and growth, it must include its objective among other cost minimization and profit maximization information system that will allow its officers to participate directly or indirectly in decision making relating to all matters and marketing strategy.

 

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Peter Hezekiah

I am Peter Hezekiah, a Nigerian. A graduate of Economics/Education. I'm the Editor in projectboss.com.ng (A online company that deals with writing of final year project and provision of project materials of any topic to final year project students). My personal email is lawsonpeter10@gmail.com. My personal number; +2347068634102

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