THE ROLE OF MARKETING IN BANKING INDUSTRY: (A CASE STUDY ZENITH BANK PLC ABUJA)

THE ROLE OF MARKETING IN BANKING INDUSTRY: (A CASE STUDY ZENITH BANK PLC ABUJA)

ABSTRACT

This project work is intended to know the role of marketing in banking industry and in the course of the research the researcher discovered that the right of the customers are always considered in terms of  griding load and credit facilities. Chapter one discusses about the historical background, the objective, the significant, the limitation of the case study. The chapter two; definition of marketing, marketing concept, the role of marketing in banking industry and the importance of marketing in banking industry. In chapter three talks about the source of data collection, research design methodology, research instrument, questionnaire design, chapter four presentation and analysis of data, testing of hypothesis and research findings, chapter five summary, conclusion and recommendation. 

 CHAPTER ONE

1.0            INTRODUCTION

With the depressed nature of the Nigeria economy struggle for survey cannot be over emphasize were various sectors of the economy are struggling to maintain status quo. Banks which are financial institution are not left out in the struggle survey. With the collapse of many banks, the last few years, the need for the remaining ones to struggle and roach out to existing and potential customer has because more glaring. Their production and service are now being marketed will be achieved.

Marketing provide the frame work in which any industry banking inclusive realize their long term profit, so it can said effective marketing to be derived from prospective owned their existence to the public. Their continued stay in business and their level of success depend on a large extend on the patronage enjoyed from the public progressive bank now see the need to use marketing tacks in their banking operation, since many banks are now folding up, the need is becoming wore glaring. 

Above all the changing tasks expectation and increasing sophistication of the marketing of service in banking industry, the are of production orientation is gore that is the market and marketing orientation has come to change the trend of buyer market. The are during which bankers sit behind table expecting deposit and some time even refusing to accept such deposit from intending customers has passed. Banks now have to cultivate the habit of marketing their services the ratification sendromes of the banking firm is like to the success of its operation or existence therefore, marketing services in bank requires a planned orientation with the best bland and effective. Marketing strategy to know where, what, when and how to tackle this ever dynamic situations for survival of the bank and the achievement of the co-operative objective. Finally, banks cannot affect to loose their customer. They indeed strive hard to win customers but it must not stop at that they should also retain the customer and this has to do with its marketing activities.

1.1            HISTORICAL BACKGROUND OF THE STUDY   

Zenith Bank Nigeria Plc was established may 1990 and it becomes a company limited in July 2004 in head quarters in Victoria Island Lagos, it owned by members of the board of directors.

Zenith bank Nigeria plc has made progress since its operation by 1999 Its issue share capital  rose to 25 million while the number of branch raised to fifteen with an establishment size of over 3,911 staff. The estate assets of the bank increase to 2.3 trillion with advance amounting to N15 million.

Zenith bank Nigeria Plc was market with rapid progress growth and profitability/ the authorized share capital rose to 30 million of which N11.7 million was fully paid up by 1996. The bank also has its representatives in Ghana, Sierra Leone, Gambia, South Africa, Beijing and China. The bank has witness substantial growth in all areas, both loans and advance grew N200 million at the bargaining to N1.2 million by the years ended. The bank currently operate 55 branch in 23 states of the Federation and are on their way to cover the remaining states soon.