Effectiveness of strategic marketing of banking products in Nigeria : a case study of the United Bank for Africa

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Authors
Olowe, Adesanjo
Issue Date
2009
Degree
MA of Business Administration (international)
Publisher
Dublin Business School
Rights
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Abstract
The research study is an investigation into the effectiveness of strategic marketing of banking products in Nigeria. The major goal of the study is to evaluate the effectiveness of the strategic marketing techniques currently employed to meet customers' satisfaction in the Nigerian banking industry. Both secondary and primary research methods were employed. Questionnaires were administered to customers and marketers of United Bank for Africa. Over 140 respondents consisting customers and marketers cooperated for this study. Analyses are presented in chart form using the Survey Monkey. The data collected through the questionnaire showed that majority of the customers have positive perception towards the banks' products and services and are highly satisfied with the quality of service except the coercive nature of the marketers which, most of them disagreed with. It also revealed that the strategic marketing technique employed by the bank is effective. The result shows that the bank has preference for using female officers for its marketing activities. The sample size was limited to only a state in Nigeria and may not be entirely representative. This study provides a meaningful insight into the efficacy of strategic marketing in the Nigerian banking industry and useful platform for future studies in marketing of financial services in developing countries.