STRATEGIC MARKETING OF BANKING SERVICES IN NIGERIA
ABSTRACT
The proliferation of banks in Nigerian economy resulted in cutthroat competition among banks, the phenomena in informed the decision to probe into how banks market their financial services. In other words, the focus of this work is to find out the marketing strategies adopted by banks to create awareness of their products. To customers, it also sought to know the importance of marketing in the liquidity and profitability position of banks. The effect of marketing strategies and techniques on the existing customers and prospective ones was also a subject for consideration.
However, since there are many banks in Nigeria spread over the thirty-six (36) states of the federation and the federal capital territory, Abuja to use all banks for the purpose of the study would be cumbersome and illogical.
Four branches of the bank situated in Lagos were used for the purpose of data collection interviews method was adopted with the use of two separate interview schedules, one for bank officials and the other for customers of the branches.
TABLE OF CONTENTS
CHAPTER ONE
 Introduction
Background of the study
Statement of the problem
Purpose of the study
Significance of the study
Limitations of the study
CHAPTER TWO
Review of related literature
Introduction and definition of marketing
Marketing concept and service marketing
Features of service products
Banking industry in Nigeria
Effective marketing of financial service
CHAPTER THREE
Research design and methodology
Research design
Sources of data
Location of data
Method of data collection
CHAPTER FOUR
Findings
Summary of general findings
CHAPTER FIVE
Recommendation and conclusion
Recommendation
Conclusion
Bibliography
CHAPTER ONE
INTRODUCTION
1.1                                  BACKGROUND OF THE STUDY
 This study is concerned with market of financial services in the banking industry of the economic. It is usually focused on the changes that have taken place in the financial environment, and how banks have reacted to these changes, the planning involved and the creation of new services to meet their customer’s needs.
 The Nigeria banking industry, it must be argued has come a long way in serving as a hub of financial intermediation process in the entire development of an economy, more so of a developing one, most of necessity institutes highly functional and efficient financial system. The banking industry is therefore important in the process of development.
 The financial sector has therefore become one of the fastest growing sectors in the economy cutting across the monetary authorities, the banking institutions over the years, the marketing concept before now had a restricted meaning of activities, which relates the buying and selling of goods. See buyers or sellers of services. This believes could be attributed to the level of awareness among the Nigerian market. However, in theory product marketing sales of goods and services, marketing such as provision of bank and insurance services are the same.
 Marketing strategies are now being used in all sectors of the economy and the marketing mix; that is the blending of the (4) Ps’ (product, price, place and promotion) of marketing to achieve the objective for which a company is established, has become a necessity for variable companies in the economy.
 The trend in the banking industry today provides an interesting example of a service industry that has in the past neglected the marketing concept, which stipulates that a market oriented company must seek the need and wants of the consumers should be at the command of the company.
 As a result of the growth in number of banks in Nigeria (commercial and merchant) before 1983 and 1990 from thirty-five (35) to one hundred and nineteen (119), they were now awakened to realize that in order to continue in business they must get a reasonable percentage of the banks existing customers and acquire more of the potential customers by turning them into full customers.
Also to attract customers and deposits, most banks like other business outfits resorted to dynamic and motivating marketing strategies could be defined as the means and techniques through, which organization attempt to promote their products with a view to enhance their image in order to get a large percentage of the industry market, to achieve the objective of the organization, marketing concept and strategies then become important as efficient provision of financial services by the banks.                       
1.2                               STATEMENT OF THE PROBLEM
 The proliferation of banks, in Nigeria have resulted in cutthroat competition amongst banks, this phenomena informed the decision to probe into how banks market their financial service; service is usually an intrinsic part of the package that the customers buys and derives from using a product.
Different strategies for marketing bank’s services abound, such strategies includes market segmentation strategy the product concept, the selling concept, the marketing concept, the societal marketing concept and integrated marketing concept (IMC), most bank’s either deliberately or as a result of over enthusiasm dabble into retailing a service that they do not have the necessary strategic skill and training to perform. It will serve these banks better to know that a repeat business can only come from a satisfied customer since you can only fool most customers once.
 The work is therefore aimed at evaluating the most effective strategy for marketing bank services.
  1.3                                           PURPOSE OF THE STUDY
 This study is embarked on the highlight between other, the following are
(a)             To assess the various marketing techniques used by habib Nigeria bank limited, to market its financial services.
 (b)             To ascertain the impact of marketing of financial services in bank.
 (c)             To compare the bank and marketing strategies with other commercial banks in the country.
 (d)            To investigate into effectiveness and efficiency of how banks are marketing their services in terms of type and quality. This will affect customer awareness.
 (e)             To ascertain the bank in the present competitive environment and note the strategies used by the bank to complete favourable in the market.
1.4                                           SIGNIFICANCE OF THE STUDY
 This research will be of immense benefits to cover the marketing strategies adopted by more than one bank. The finding and recommendation of this study shade to be of great important to the management of the bank in dealing with problems relating to marketing of bank services. However, the study shall be of great help to the managers of the bank have a good working relationship with their subordinates.
 This research can also be useful, for the customer to know the marketing strategies facing the financial services.
 There are a lot of benefits to be derived form this study, if the marketing of banking services is made effective in community banks, it will be of great significance in the following ways, to the management of the bank in dealing with problem relating to marketing of bank services. However, the study will be of great help to the manager of the bank to have a good relationship with their subordinates.                                      
1.5                   SCOPE AND LIMITATIONS OF THE STUDY
 This research was originally intended to cover the marketing strategies adopted by more than one bank, however the researcher focused only on the marketing strategies adopted in the provision of financial series of its customer by Habib bank Ltd.
 As stated earlier, the research was originally intended to cover more than one bank, however the research was constrained by time and finance from extending the research to other banks. There was equally inadequate research data on the topic.
DEFINITION OF TERMS
 STRATEGY
 This can be defined as the fundamental means or scheme of reaching the objective.
SERVICES
 These are activities or satisfactions that are offered for sale, where are no exchanges of tangible goods involving a transfer of title.
PRODUCT
 A product is anything that can satisfy need or want.
LIQUIDITY
This is the ability of a bank to fund all its contractual obligation, especially lending and investment commitments, as well as meet customers deposit withdrawals and maturing liability at a cost the bank can bear.
PROFITABILITY
This is the tendency of getting the surplus arising from the deduction of the total cost from total income in any business activity.