THE IMPACT OF MARKETING STRATEGY IN THE BANKING INDUSTRY OF NIGERIA
The Nigeria banking sector has undergone tremendous competition since the introduction of the Structural Adjustment Programme (SAP) on 1st of July, 1986, which has led to stiff competition in the industry.
Marketing strategies is a written plan, usually comprehensive describing all activities involved in a particular marketing objective and their relationship to one another in both time and magnitude which include all the necessary activities which an organization can use to achieve its long term objectives which are growth and profitability.
This research study focus on the impact of marketing strategy in Nigeria banking industry using First Bank of Nigeria as a case study,
The study focus on the use of primary source of data by using administering of questionnaire both to the employee of the bank and also to the customer of the bank and observation method was also used in obtaining data.
The research used multiple bar charts to give a pictorial diagram of the data analysis for the demographic data while T-test was employed to test the various hypotheses formulated. The hypotheses are five in number.
At the end of the study, it was revealed that marketing strategy does not only have impact on marketing of physical product alone but also on marketing of service in order to achieve the overall organization objective of profitability and growth.