EFFECTIVE APPLICATION OF MARKETING CONCEPT IN BANK SERVICE (A CASE STUDY OF COMMERCIAL BANK IN ENUGU)

ABSTRACT  Banks are established to make profits. The customers or is it as a result of the service provided by these banks.   It is the aim at this research to find out if banks apply the marketing concept. Is customer’s satisfaction what these banks attain to achieve. This research work has three chapters.  Chapter one contains a general discussion of marketing concept as see by different people. It went further to state the problems associated with the study, problems that the study will be concerned with, the importance of the studying the area and the definition of terms.   Number of past related literature examined by other studies which contains the origin of the study, school of thought within the subject area, school of thought to the problem of the subject, different methods of studying the problem and summary.   Chapter three deals with conclusion, presentation of data, the data got from the research survey were analyzed, recommendation made by the researchers to ensure, if banks would put the recommendation made in the study in to use, these will not only to satisfied customers with service offered, but a continuous increase in profit made thereby making the problem of the banks a thing of the past and finally is conclusion of the research.
TABLE OF CONTENTS
Title page  Approval page Dedication  Acknowledgement Abstract 
Chapter one: Introduction  1.1 General Background of the study  1.2 Problem associated with the study 1.3 Problems that the study will be concerned with  1.4 The importance of studying the area 1.5 Definition of the important terms  1.6 References 
Chapter two: Review of related literature  2.1 The Origin of the study 2.2 The school of the thought with the subject area 2.3 The school of thought to the problem of the study 2.4 Different methods of studying the problem  2.5 Summary  2.6 References 
Chapter three  3.1 Conclusion  3.2 Data presentation  3.3 Analysis of data 3.4  Recommendation  3.5 Conclusion  3.6 References 
INTRODUCTION  
As competition between businesses geared up, it become to turn attention to customers needs and wants which are naturally insatiable. The effectiveness-marketing concept arose to challenge all other previous concepts.  The marketing concept holds that the key to achieving organizations goals consists in determining needs and wants of target markets and delivering the desired satisfaction more effectively and efficiently than competitors. The marketing concept is a frame of mind the marketer works with. It is based on a market focus, customer orientation, coordinated marketing and profitability.  The marketing concept starts with a well defnd market. The organization determines who its market will be, who he hopes to satisfy, even after company can still fail at customers orientation. By customer’s orientation, the customer’s need is defined from the customer’s viewpoint and not from that of the company. Customer orientation seeks to crown the customer as king recognizing that he is the lifeblood of the organization, and aims at satisfying the desires of the consumers. A Japanese’s business men once said that our aim goes beyond satisfying the customer, our aim is to delight the customer” in fact this is a higher standard and a deeper quest, and may be the secret of great marketers. Coordinated marketing answered that all the various marketing functions like advertising, marketing research sales force and so on are proper integrated and must be well coordinated with other departments in the company. The major goal of most profit-oriented companies is to make profit. A company will make more money if it satisfies its customers need better than competitors. Therefore in applying effective marketing concept, companies would produce what they maximize profit.  Several authors have states the need for all business entities to adopt the marketing concept in their various activities. Most companies do not really grasp or embrace the drive to it by circumstances like sales dealing, slow growth, changing of buying patterns by customers, increasing competition and increase in market expenditure. These companies have not arrived a full marketing maturity but think tha because they have a marketing concept from what is been seen and read today in the society, not all business organizations adopt the marketing concept for example, in the midst of scarcity, the customer is not the king rather it is the seller that is the king. The emergence of banking service in Nigeria can be traced back to less than a 200 years ago. The activities of the transact corporation, the financial transaction of the colonial government, the declined of the batter system of trade and the increasing acceptance of British silver currency all these required an institution, in the form of a commercial bank for safety and transmission of funds, the importation and distrubution of British silver cons and trading compaiens who need them. These banks were out to make profit from interests got from the deposits made by customers, they never really thought of the customers as the lifeblood of the organization.  In the past, banks were operating in seller’s market, which made remarketing possible, but the environment is dynamic, such that if bank are to continue to prosper, they must adopt the change that are taking place in industry and commerce, so only the banks that are efficient and effective can satisfy customers. This in scarce and abundant economics alike, the real problem is not production, but marketing if only w accept the truth that mass marketing is a pre requisite for successful mass production. Marketing consideration than become the most critical factors in any business planning.