THE IMPACT OF MARKETING STRATEGY ON PRODUCTIVITY: A STUDY OF FIRST BANK NIGERIA PLC

ABSTRACT The challenges of measuring marketing strategy in relation to productivity  has been inadequately address by previous researches and marketing text in Nigeria. Hence this  study examines the effect of marketing strategy of  First Bank. Out of the total population of first bank, Kaduna main branch with a staff strength of 135 persons were selected as the sample size. The survey method constitute the research design. Questionnaire design by the researcher in five likert scale constitute the research instrument. The mean scores was used to analyze data. The analysis indicates that the marketing strategy adopted by First Bank are basically customer service strategy, advertising, quality improvement as well as unique packaging and effective distribution channels. Marketing strategy of First Bank affect it productivity through the enhancement of customer value which facilitate increase in sales but inspite of this, marketing strategy of First Bank is constraint with problems arising from the inability of First Bank to combine numerous models and tools of marketing used in order to stand dynamism inherent in strategic implementation due to changing marketing environment as well as lack of integrated views of planning and development of marketing strategy. As such it was recommended that there should be Complete “paradigm shift” in managerial thinking, in terms of service quality delivery through continuous education and training of staff in field such as customer satisfaction and customer retention.
TABLE OF CONTENTS Title page----------i Declaration----------ii Certification----------iii Approval----------iv Dedication----------v Acknowledgment---------vi Table of Contents---------vii Abstract----------viii
CHAPTER ONE INTRODUCTION 1.1Background to the study-------1 1.2Statement of the problem-------3 1.3Objective of the study--------3 1.4Significance of the study-------4 1.5Research questions--------4 1.6Definition of terms--------5 1.7Scope of the study--------5
CHAPTER TWO LITERATURE REVIEW AND THEORITICAL FRAMEWORK 2.1Introduction---------7 2.2Conceptual Framework-------7 2.2.1Concept of Marketing Strategies------7 2.2.2Types of Marketing Strategy-------9 2.2.3Strategic Marketing Models-------12 2.2.4Marketing Strategy Models-------13 2.2.5Marketing Mix and Strategy Development-----19 2.3Theoretical Framework-------22 2.3.1An Overview of Resource Advantage Theory----22 2.3.2Resource-Based Strategy and R-A Theory-----25 2.3.3Competence-Based Strategy and R-A Theory----27 2.3.4Industry-Based Strategy and R-A Theory-----28 2.3.5Brand-Equity Strategy and R-A Theory-----29 2.3.6Market-Orientation Strategy and R-A Theory----30 2.3.7Market-Segmentation Strategy and R-A Theory----30 2.3.8Relationship-Marketing Strategy and R-A Theory----31 2.3.9R-A Theory and Conceptual Frameworks-----32 2.3.10Schematic of R-A Theory -------33 2.4Empirical Studies--------35 2.4.1Marketing Strategies in Banking------36 2.4.2Marketing Tasks in Banks-------37 2.4.3Strategic Issues in Services Marketing-----37 2.4.4Challenges Militating Against Marketing Strategies----41 2.5Summary---------42
CHAPTER THREE RESEARCH METHODOLOGY 3.1Introduction---------43 3.2Resign Design --------43 3.3Population and Sampling Technique of the Study----43 3.4Source of Data Collection-------44 3.5Method of Data Collection-------45 3.6Method of Data Presentation and Analysis-----45 3.7Justification of Method of Data Collection and Analysis---46 3.8Summary---------46
CHAPTER FOUR DATA PRESENTATION AND ANALYSIS 4.1Introduction---------47 4.2Respondent Characteristics-------47 4.3Data Presentation and Analysis------48 4.4Major Findings of the Study-------55 4.5       Summary---------56
CHAPTER FIVE SUMMARY, CONCLUSION AND RECOMMENDATION 5.1Summary---------57 5.2Conclusion---------57 5.3Recommendations--------58 5.4Limitation of the Study-------59 References---------60 Appendix I---------65 Appendix II