ABSTRACT

This study focused on the Effect of Marketing Concept on Customer Satisfaction in Nigeria Financial Institution, A study of Diamond bank Nigeria Ltd. High Profiteering and target-based marketing imposed on staff by management gave credence to this study to evaluate the extent of the application of marketing concept and its effect on  customer satisfaction, patronage and profitability of the firm. The study was carried out in Umuahia, Abia state. Both bank customers and staff and management of Diamond bank were used as respondents for the study. 170 Customers and 30 staff were sample using a combination of Multistage and purposive sampling Techniques. Diamond bank has three branches. Data were solicited and collected with the instrument of questionnaire made of open ended and likert scale type of questions. Information received were analyzed with simple descriptive statistics, Spearman’s correlation model and t-test statistics. The hypothesis were tested at 5% level of significance. Findings indicates that the higher the evidence and application of marketing Concepts Strategies, the higher the level customers satisfaction and increase in profitability. Services challenges were found to still exist in their operation which has the same effect on customer at all time, tested at different branches. Employee’s service quality were measured using srviQUAL model. item like Empathy and Responsiveness were found to be low, which means that employee periodical training and coaching is highly necessary.  

TABLE OF CONTENT

Title Page……………………………………………………………………i

Declaration…………………………………………………………………..ii

Certification …………………………………………………………………iii

Dedication……………………………………………………………………iv

Acknowledgement……………………………………………………………v

Table of content………………………………………………………………vi

List of table …………………………………………………………………..viii

Abstract……………………………………………………………………….ix

CHAPTER ONE

INTRODUCTION

1.1 Background of the Study ……………………………………………….1

1.2 Statement of Problem…………………………………………………..4

1.3 Research Questions……………………………………………………..5

1.4 Objectives of the Study…………………………………………………6

1.5 Research Hypothesis…………………………………………………….6

1.6 Significance of the Study………………………………………………..7

1.7 Scope of the Study……………………………………………………….7

1.8 Limitation of the Study…………………………………………………..7

CHAPTER TWO

LITERATURE REVIEW

2.1 Historical Background of Diamond Bank Nigeria Plc…………………..9

2.1 Banking Business……………………………………………………….10

2.2 Banks and Marketing…………………………………………………….11

2.2.1  Marketing Research………………………………………………………13

2.2.2  Product Determination……………………………………………………14

2.2.3  Pricing…………………………………………………………………….15

2.2.4  Place (Distribution)………………………………………………………16

2.2.5  Promotion…………………………………………………………………16

2.3 Marketing Concepts: Nature and Applications…………………………20

2.4 Factors that Enhance the Adoption of Marketing Concept…………….25

2.5 The Premises and Features of the Marketing Concept………………….26

2.5.1 Customer Orientation (Consumer Concern)……………………………..30

2.5.2 Integrated Effort (Integrated Operation)…………………………………30

2.5.3 Profit Reward……………………………………………………………..31

2.7 Bank Marketing as Service Delivery…………………………………….34

2.8 The Application of the Marketing Concept in the Commercial Banking Sector……………………………………………………………………..41

CHAPTER THREE

RESEARCH METHODOLOGY

3.1 Area of the Study…………………………………………………………42

3.2 research design……………………………………………………………42

3.3 Population of the Study…………………………………………………42

3.4 Sampling Procedure and Techniques……………………………………43

3.5 Data Collection…………………………………………………………..44

3.6 Data Analysis Procedure…………………………………………………45

3.7 Model Specification………………………………………………………45

CHAPTER FOUR

RESULT AND DISCUSSION 

4.1 Data Presentation and Analysis………………………………………..47

CHAPTER FIVE

CONCLUSION AND RECOMMENDATIONS

5.1 Summary………………………………………………………………..53

5.2 Conclusion………………………………………………………………54

5.3 Recommendation……………………………………………………….54

5.4 Suggestion for Further Research……………………………………….55

REFERENCES

APPENDIX 1

APPENDIX II

LIST OF TABLE

Table 4.1 Analysis of Response Rate…………………………………………47

Table 4.2: Distribution of Respondents Based on Socio-Economic characteristics……………………………………………………….47

Table 4.3: Distribution of Respondents Based on Marital Status…………….48

Table 4.4:  Distribution of Respondents Based on Education Qualification…48

Table 4.5: Distribution of Respondents Based on Occupation………………49

Table 4.6:  Do you have Account with other Banks………………………….49

Table 4.7:  How do you come to bank with Diamond bank………………….50

Table 4.8:  Analysis of Research Hypothesis…………………………………50

Table 4.9:  Effective of Service Irregularities on customer satisfaction……….52