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

Dike Udoka Goodness | 58 pages (9232 words) | Projects

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 


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APA

DIKE, G (2021). Effect Of Selected Marketing Strategies On Profitability Of First Bank Nigeria Plc In Aba, Abia State. Mouau.afribary.org: Retrieved Dec 24, 2024, from https://repository.mouau.edu.ng/work/view/effect-of-selected-marketing-strategies-on-profitability-of-first-bank-nigeria-plc-in-aba-abia-state-7-2

MLA 8th

GOODNESS, DIKE. "Effect Of Selected Marketing Strategies On Profitability Of First Bank Nigeria Plc In Aba, Abia State" Mouau.afribary.org. Mouau.afribary.org, 14 Jan. 2021, https://repository.mouau.edu.ng/work/view/effect-of-selected-marketing-strategies-on-profitability-of-first-bank-nigeria-plc-in-aba-abia-state-7-2. Accessed 24 Dec. 2024.

MLA7

GOODNESS, DIKE. "Effect Of Selected Marketing Strategies On Profitability Of First Bank Nigeria Plc In Aba, Abia State". Mouau.afribary.org, Mouau.afribary.org, 14 Jan. 2021. Web. 24 Dec. 2024. < https://repository.mouau.edu.ng/work/view/effect-of-selected-marketing-strategies-on-profitability-of-first-bank-nigeria-plc-in-aba-abia-state-7-2 >.

Chicago

GOODNESS, DIKE. "Effect Of Selected Marketing Strategies On Profitability Of First Bank Nigeria Plc In Aba, Abia State" Mouau.afribary.org (2021). Accessed 24 Dec. 2024. https://repository.mouau.edu.ng/work/view/effect-of-selected-marketing-strategies-on-profitability-of-first-bank-nigeria-plc-in-aba-abia-state-7-2

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