MARKETABILITY OF FINANCIAL SERVICES IN A COMPETITIVE BANKING ENVIRONMENT: EVIDENCE FROM NIGERIAN BANKING INDUSTRY
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Date
2018-06
Journal Title
Journal ISSN
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Publisher
FACULTY OF MANAGEMENT SCIENCES, OSUN STATE UNIVERSITY, OKUKU CAMPUS, NIGERIA
Abstract
The environment where financial services are marketed is becoming more competitive and this had made the task of marketing of financial services increasingly challenging and highly specialized as a result of the unique features of financial products and services. This paper examines marketability of financial services in a competitive banking environment. It adopted a survey research design to collect the required secondary information and primary data for this work. The primary data was collected through a multiple-options and Likert scale questionnaire that was administered on the staff and customers of the banks under investigation, while the secondary information were collected from textbooks, and Journals. The study employed correlation analysis and chi- square as analytical instrument. The results of the study indicate that there is a relationship between the marketing of financial services and customer satisfaction, and it shows marketing oriented activities have improved the quality of banks' financial services. It was recommended that bank managers should exploit the relationship that exists between marketing of financial products and customers satisfaction by monitoring changes in the needs of target customers and they should also sustain the improvement in the quality of financial services by tracking all dimensions of dynamism in the bank operating environment.
Description
Keywords
Financial services, Marketing, Competitive environment, Strategy
Citation
MUSTAPHA, Y.I., OMOLEKAN, O.J. & BELLO, K.A. (2016) Marketability of Financial Services in a Competitive Banking Environment: Evidence from Nigerian Banking Industry. International Journal of Management. Published by Osun State University