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CHAPTER ONE
1.0 INTRODUCTION
1.1 BACKGROUND TO THE STUDY
To
stay in business entails continuous business transaction between a
company and its various customers. much is involved in achieving a big
term survival needs.
Customers patronage is one of the major
ingredients for a company’s long existence .patronage is one of the
major ingredients for company’s long existence .patronage from the
customer is achieved only when a company provide products and services
that are able to satisfy the needs of such customer’s. This is the
essence of employ marketing.
Marketing is define, by the American
Marketing Association (AMA) as the performance of business activities
that direct the flow of goods and services from the producer to the
final consumer or user.
The institute of Marketing Britain defines
marketing as management process which identifies, anticipates, and
satisfies consumer requirement profitably. As economic environment
changes so also does the underlying, philosophy of business operation
changes initially business emphasis was on production which was actually
spurred by the advent of industrial revolution of 1700 AD. Later,
emphasis was shifted from production to product and to selling concepts
.However, it is necessary to explain what the philosophy so if relates
to production concept was all about them.
The first philosophy which
was based on product orientation made management to reason in order to
make profits, a business organization should seek to produce well and a
fairly priced product .The emphasis was on mass production of goods as a
way of reducing cost. It was established that mass production only led
to excess products.
Attention then shifted from the product to
selling orientation which was then solely reached upon to despise of the
excess created by mass production. under the sales Orientation ,the
emphasis was on selling techniques such as advertisement, sales
promotion and the uses of salesmen. The inability of the sales
orientation to solve the problem of glut eventually led to the emergency
of marketing concept. Unlike the two earlier business philosophies of
the customers. It states that the business Organization should take its
direction from the market (transaction point) place by seeking to
identify and satisfy the needs of Customers. By so doing, the attainment
of the Long —term goals of the organization is enhanced. This is so
Since customer patronage is pre-requisite for the organization survival
and for the achievement of its goals further more, the marketing
concepts, presupposes that the profitable satisfaction of the needs of
customers can best achieved by co-ordinating and integrating all the
activities of the organization.
The realization that the roots of
continuing sales success stem back into the heart of the business led to
the condition whereby customers needs satisfaction was taken into
consideration by companies. Hence the modern marketing concepts which
was Originated in 1950.
To a considerable degree, marketing concept
has become a key ingredient of business philosophy, Mc Carthy (1964)
view the concept as a central guide for action and planning by general
management. Foster (1984) maintains that the basics of marketing
concepts applies to services industries as such as to manufacturing .He
went further to say that there might only be need to modify the
techniques and tactics to suit the unique quality of intangible produce
of servicing industries.
Services are those seqparately identifiable
essentially intangible activities that provides want satisfaction
.Banks are services oriented and need to supply marketing concept as a
guide to their effective operation. However, significance differences do
exit between product marketing and service marketing .The strategies
and practices used in conventional product marketing often are in
appropriate for service marketing due to unique special characteristics
of services between which are different from those of the product.
Service
are INTANGIBLE .It is highly impossible for smell before they purchase
them. The intangible of service makes ownership not transferable.
Service are INSEPARABLE from the seller, hence they are sold and consumed almost at the same times.
Heterogeneity
is another characteristic of services .it is not possible for service
provided or rendered by service industries to be standardized .the
quality of services rendered at different time differ.
Finally services are highly PERISHABLE in nature and therefore cannot be stored.
The
researcher look at marketing concept as applied by financial serve
industry with particular reference to commercial banking activities and a
case study of United Of Bank Africa.
1.2. STATEMENT OF THE PROBLEM
Commercial
Banks need marketing their services to their various customers. As
performance is the key word, bank staff especially the cashiers and
other clerk serve as the image maker of Commercial banks as they deal
directly with the customer.
Customers in nearly all the banks in
Nigeria have at least for one time or the other complained about the
poor services rendered as many customers have become less aggrieved with
the services received from these banks.
Customer’s complaints centre
around unnecessary waste of their time by bank officials during
deposits, withdrawals, and other banking services, preferential
treatment, Poor human relation and rudeness of bank officials to
customers, difficulties in securing overdrafts and inadequate
infrastructure facilities (like parking space for customer’s convenient
waiting hall, toilet etc).
The inefficiency of banks and their poor
performance are result of non-applicability or lack of knowledge of the
modem marketing concept. And it is on this basic that this research
topic was chosen to find out how marketing concept in United Bank of
African was applied to improve better performance.
1.3 . PURPOSE OF THE STUDY
The
major aim of this research work is to carry out a critical study of
united bank plc operations Onitsha main branch.The study is intended to
fmd out.
(i) Whether the relationship between bank officials and customer are cordial.
(ii) The activities of marketing department of the bank if such exist at all.
(iii) How the customer get informed on the availability of the services rendered by the bank.
(iv) Lastly, to evaluate the customer’s view and complaints about the banks services as said in statement of the problem.
1.4. RESEARCH QUESTION
The following research questions were formulated to enable the researcher to carry out appropriate investigation.
(i) How long do customers spend during business transaction.
(ii) What is the average duration period for current account transaction?
(iii) How do you differentiate this bank and others banks, in terms of treating customers.
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