MARKETING OF BANKING SERVICES IN NIGERIA
A CASE STUDY OF THE UNITED BANK FOR AFRICAN PLC (UBA)
ABSTRACT
The banking sector in Nigeria is in a state of rapid change. The nature and rate of change is a function of local market competitive circumstance as well as willingness to change traditional behavior management of bank in Nigeria being tested by deregulation interest competition, New technology and the introduction of new products . This project work is aimed at investigation the various ways bank (Commercial banks ) market their New production  which are ion form of service  using united bank of African Plc (UBA) as a case study and identifying the problems and prospect of marketing of banking services which will enable us to identify than short coming and then to the problem ranging from lack of modern marketing and techniques to inadequate inefficient staff usually encountered while carrying out their legitimate dynamic function of bank marking in the economy . this study is percentile as five chapters  viz. Chapter one of this project contain the introduction of the research topic and other sub-items  like the background purpose, statement of the problem, scope and commutation of the study and so on
Chapter two has to do with the literature review where the origin of banking was walked into and other like history of united bank for Africa Plc (UBA).
Here, the concept of making and its impact in banking industry publics and suggested solution for marketing in banking service etc.  Chapter three focus on the methodology sources of data population  sample the condvadidity of the  data and method of data analysis Chapter five contain . the summary of finding antiunion and recommendation
TABLE OF CONTENCTS
CHAPTER ONE
1.0              Introduction
1.1              Overview of study
1.2              Statement of the study
1.3              Significance of the study
1.4              Purpose off the study
1.5              Research question
1.6              Hypothesis of the study
1.7              Scope and limitation of the study
1.8              Limitation of the study
1.9              Definition of terms
CHAPTER TWO
2.0              LITERTURE REVIEW
2.1        Origin of banking
2.2        History of bank service
2.3          Characteristic of  bank service
2.4          The concepts of marketing and its immpact on banking industry
2.5            The objective of marketing in banking
2.6     Need for marketing in banks
2.7             Banks marketing activities
2.8   How best to marketing bank services
2.9         Problem and suggested solution for  marketing in bank  services
2.10    New financial services of  united bank for Afgrica polc UBA and their marketing strategies
2.11  Why the study is a novel
 CHAPTER THREE
3.0              Introduction
3.1              Sources of data
3.2               Population and sample
3.3            Data collection instrument and produre
3.4             Limitation of  validity of data
3.5           Method of data analysis
CHAPTER FOUR
4.1              Data presentation and analysis
4.2              Testing of hypothesis
CHAPTER FIVE
5.0   Summary of finding conclusion and recommendation
5.1 Summary of finds
5.3              Recommendation
Bibliography
Appendix I  questionnaire
CHAPTER ONE
 INTRODUCTION
In Nigeria, successive government, both military and civilian has continuously demonstrated their interest and commitment in the financial sector by encouraging banks (commercial merchant and development) to expand their services and facilities not only in the urban areas, but also to the rural environment. This explains the rigorous with which  the rural banking and community banking schemes are being pursued. But the most  spectacular era of banking in Nigeria set in by 1986 when the structural instrument programme (SAP) was introduced and since then banking has never been the same.
            Government become untimely involved in commercial banking in other to ensure maximum benefit of the economy. Modern Technology and modern information system has revolutimalized the way banking business   is done. Customer satisfaction has become the bench- mark for performance and  banking has become  increasingly international and sophisticated. (Dr S. Usmen 19998) banks in Nigeria are incorporating marketing in their provision of banks services. Marketing in New idea, but t is challenging about it is the application of its principles in the rendering of bank services.
Generally marketing is the set of individual  or corporate activities designed to direct the flow of need satisfying goods and services to target buy7ers this is done through the exchange process. Marketing starts when one social unit. These effort are made with the  intent to obtain transaction between competent social unit
The recent emphasis on the principle and the application marketing to banking has rather been forced on individual by increase competition and other environmental changes whose result so far has been sluggish due to perhaps cultural responses to charges and the fact that marking as we know to day has been developed from the approaches meanest for tangible product
Based on these development this project work is aimed at finding out the extent and quality of the service of Nigeria banks specifically commercial bank with particular reference to united bank for Africa Plc (UBA) and also to identify the problems and Perspex of marketing of bank services which will enable us to identity their short coming and them be in a position to offer objective solution to the problem techniques to indaquatecy/efficient staff usually encountered while carrying out their legitimate dynamic function of bank marketing in the economy with the overall objective of maximizing portability and customers satisfaction. Nwankwo G.O (1985)
1.1 OVERVIW OF THE STUDY
All research study has its own problems and this particular one is not an exception. The research study into marketing of banking service in Nigeria and some New horizons with  special reference to the united bank for Africa Plc (UBA) Branch being Lagos and Benin city is done with a view of examing and evaluating the services of this bank (UBA) in respect of their contribution towards the financial position of both large and small firms.
 The united bank for Africa Plc (UBA) has its antecedent in the British and Frence bank Limited. The British and French bank itself metamorphosed from BNCI Paris, Basque national pourle commence et. Industries establish in 1932. The united bank for Africa was incorporated on February 23, 1961 and was first of the international banks operating in Nigeria at the time to be registered under Nigerian Law.
The bank has 24 branches and cash office located in Nigeria major commercial centers, state capitals and federal capital territory with two off shore branches in new York and Arrendcayan Island. The united bank for Africa Plc retains, the unique statistic of being the only Nigeria bank with presence in the united state of America.
The bank undertook a voluntary public issue in 19i70 the first of such public issue to be undertaken by a bank in Nigeria. This voluntary issue came year before the requirement of the authorities for 45 percent Nigeria equity  participation is local banks.
The united bank for Africas Plc (UBA) become a private equity in 1994 with the full divestment of the government 60 percent holding under it privatization and commercialization of public enterprise thrust with an authorized share capital of N billion  of which N500 million is fully paid and share holders funds in excess of N 5.4 million united bank for Africa Plc (UBA) one of the most highly capitalized bank in Nigeria. And has its branches is the commercial centre in the whole Nigeria like Lagos, Kano, Kaduna, port -Harcourt, Onitsha, Ibadan, Benin, Aba etc.
United bank for Africa Plc in its marking activities and efforts involve the determination of the total image and the bank also wishes to project , to its customers towns and communities at Large.
The bank also identities the areas of strength and weakness in order to delineate share in specialization. A proper definition of different categories of customers will also go a long way in preparing different classes of services for different categories of customers with equal satisfaction.  United bank for Africa Plc(UBA) is totally committed to customers services adding value to clients business as well as building and enduring  partnership.
  The organization  has gone long way to the extent that its banks strategy is combined with traditional strength of a large funding base access to cheap deposit with the flexibility responsiveness and quality delivery of new generation banks.
Some new financial service have been introduced in the organization in order to meet with customers satisfaction such activities like the UBA money Gram, UBA saves for school easy card, value card etc. to improve the performance of the bank, change and the Licensing of new banks are placing unprecedented  pressure of every bank.
Only these leader who learn to anticipate and even invent that future will profit from rather than be surprised by  change. According to (Kotler, 1976) marketing is human activities directed at persuading somebody to accept its product of activities. He said further that it  is the process whereby demand for product, services and ideas are anticipated, managed and satisfied.
Nwankwo (1980) view3 marking as a management process which identifies, anticipate and satisfies consumer which identifies, anticipate and satisfy consumer requirement . profitability he also emphasized the customer for without a total commitment to him on the part of the bank as a whole the application of advanced marketing techniques can only have limited and bridt benefits. The role of banks in the economy can not be overemphasized since they are principal producer  of means of payment the failure of the banking system could have  a devastating consequence on the economy especially as financial  institution  and  marketing are key internaliaries through which government bring their macro economic activities.
Bank primarily mobilize financial resources in the country for accelerated economic activities.
 Bank primarily mobilize financial resources in the country for accelerated economic  development and  without marketing their  services  to the people. They can neither know the importance nor the numerous benefit there in
  All the above points to the fact that marketing in banks in quite complex and has to be handed with dexterity especially when one recognizes the role of banks in economic development and plurality of services they render
1.2       STATEMENT OF THE PROBLEM
            The management of banks in being tested by deregulation, intense  competition, new technology and the introduction of new product excellent in management will separate the winner and looser of these globa competition.
In Nigeria political economic  and social traitshere tremendous impact on banking operation. It used to be said of colonial administration, that the trade followed the flag political development catalyzed economic development in banking. For instance, the political power acquired by the regions  under the regional constitution that enable the  then Eastern and western region in 1957 to rescue the three fore most indigenous banks.
National bank of Africa, The Africa continental bank and the WEMA bank for imminent collapse and  extinction following the banking boom and down of the 1940 and 1950s political decision also informed the establishment of other banks development of the economy. Customers unwillingness to respond favorable  to banks efforts to get this opinion about service rendered to them with the challenges of the time
Accidentally banks are yet to reduce these problem as adequate solution have not been provided to sub them. However effects should be made not to allow these problem to continue and militate against the progress of bank customer and the nation at Large.
Therefore the marketing of banking services by the commercial banks require effective marketing mix to know what whom where and how to tackle this ever dynamic situation for the survival of the bank and achievement to their corporation objective business time (Jan 23 1989)
As an escape from the suffocating political climate  government controlled bank in establishment the federal character syndrome several banking preactitmers floated new bank what they hoped to put their expertise and drive into practical    and practicalities of their vision. As a result of the above development the number of banks  in the country has expanded immensely- Another impart on banking operation is higher control measures by the monetary authorities. With no more free funds available to the bank to invest an scope unearned profits the measures have jotted banks to scout for  deposit and for business. Thus, they now compete fiercely and scramble actively for customers and depositors intense competition invocation  intensity marketing and public venation effort have therefore been the other of the day in the process bank are positioning themselves in the fierce competitive environment  through computerization new product and increased emphasis on corporate   services sucer as debt factoring and equipment leasing.
In these circumstances, the financial institution are moving away from armchair to dynamic banking to be  improved services through aggressure marketing strategy
1.3              SIGNIFICANCE OF THE STUDY
Bank commercial bank in particular seen to ignore the need to market their services. Many commercial banks are not customer oriented because they assumed that they are very few when compared with population that need their services.
The customer is never as king despite the fact that it is the bcistence of the customers that stimulate that barking operation. Therefore, in this era aggressive  banking profit can only be made and sustain of wall afficulated courteous and efficient services are remedied to the public (According to Y.O Afolabi, 1988)
This work is aimed at findings out the extent and  quality of marketing of Nigeria commercial bank services with particular  interest in new innovation ideas which is aimed at informing the customer and getting a feed back from them it has also become necessary  to study and reveres the strategies of marketing of banking service and makes a discouraging into some new horizons. It is only after an examination of this nature that one can develop ways or strategies to improve marking of bank services.
This study is important because  the perception of an individual plays in important role in the choice of commercial banks more so when the industry is characterized by  homogenous and  prolitreration of banking products because customer today may because successful business men and women whose future dealing with  much on the impression off an experience with the bank   to day. Perhaps the justitlation for examine the effort of bank service lies in the different encountered by customer, and management in the transaction of banking business. The transaction of baking business.
The transaction become even more complex with the economic and structural change.
For bank to achieve a successful marketing of their services. The should follow the following steps.
1.         Design new service or remove old according to market  findings.
2.                  Market service to customers, of whom they were research and desired and this include pricing distribution and promotion at a point
3.                  In doing so satisfying customer function needs.
1.4              PURPOSE OF THE STUDY
The purpose of this study is to find out various ways commercial banks market there products and suggest possible ways to improve the marketing of those financial product and service by examine in some depth that following major issues.
a.                   Why banks engage in marketing bank service
b.                  Determine banks staff paception of bank service
c.                   Identify bank customer need
d.                  Determine bank customer perception of bank service
e.                   Determine how the banking system is seeking to adapt to development in marking and what strain
They have experience in this process:
(f)                Determine if marketing has in any way helped banks stability
(g)               Determine if impact that change in marking bank services had on the
             rest of the society.
1.5              RESEARCH QUESTION
1.                  Who are bank customer and what are the services rendered to them
2.                  What are the and want that are now being satisfies
3.                  What product makers and competitive factors influence the selection of a particular marketing programme
4.                  What are the methods used to increase awareness in the banking public
5.                  What area shall need improvement by commercial bank in marketing of bank service?
6.                  Has marketing of bank services any impact an performance of banks in term of profitability and asset loan portfolio management?
7.                  What effect goes marketing have on bank customer?
8.                  How has marketing helped to diversity bank portfolio
1.6              HYPOTHESIS OF THE STUDY
For the purpose of this study it is important that hypothesis be tested to see if the application of marketing concepts by banking industry would be important especially in (UBA) Plc
1.                  Null Hypothesis: Bankers and customers perception the speed of delivery of bank service are not the same in Lagos and Benin.
2.                  Alternative Hypothesis: Bankers and customers perception on the speed of delving of bank services are the same in Lagos and Benin.
3.                  Null Hypothesis: Bankers and customer perception on certain technical innovation that can be used is the banks are not the same in Lagos and Benin.
4.                  Alternative Hypothesis : Bank and customers perception on certain technological involution  that can be used as the bank are the same in Lagos and Benin.
1.7              SCOPE OF THE STUDY
            It could have been interesting carrying this study on a national scale. However, because of the constraint of time and finances the study marketing of banking service is restricted to united banks for African Plc (UBA) branches in Lagos and Benin as a case study.
This study is done with a view of examining and evaluating the service of this bank (UBA) in respect of their contribution toward the financial position of both large and small firms. The study also embrace the examination and evaluation of the cognizance of other constructive and dynamic means or changes too that would necessitates some new horizons .
Marketing is a broad filed This study does not intend to exhaust all the facts but will concentrate  also on marketing of bank services. Attempts have been made to the effectiveness of marketing of bank services in this work also helpful and meaningful suggestion will be made on the basis of the result obtain in this study and necessary other existing indigenous and banks will be referred to.
LACK OF CONFIDENCE
That was also the problem of lack of  confidence, this  made it difficult for bankers  to collusion or their service to research because they view the researcher as a treat they view the that there are some  inter they think that it is not need to be disclosed to third party for security purpose.
The passive altitude of the government  the passive altide of the government was also a problem under this construe (UBA) Plc can not predict their fate discussing what they have stock for trade seem to them that it does not make any sense.
Administrative bottleneck:  Administrative boltlenect was also one of the problem I contonclud during this  cause of research work, that don’t  know what types of service the bank has because of the personal attitude of the team of management, that  are many other delimitation which I contended  during this course of research work which time could not permit me to mention and disuse.
1.4              DFINITION OF TERMSS:
To make some thing less or something Antecedent thing event or circumstance that is or comes before another.
ARMCHAIR: Having the ability of learning or reading about something without having practical experience of it .
Bitchy:  Spiteful or negative comments, remark, complains of difficult situation or problem
Catalyzed:  An action has been speed up .
Defensive: Capable  of protecting in interest from being harm.
Delineate: To show either by drawing or describing
Deregulation: The removal of regulation  from either a commodity or a business.
Divestment: The taking away of power right, authority or responsibility from either a person or a body.
Dynamic: The capacity of moving
Fierce: violent and angry situation
Heterogeneous: Made up of different kinds with varied composition
Intense: Very great or extreme sensation eg intense heat or interest.
Justification: Acceptable reason for doing something metamorphosed: passed through the change of form or nature by natural growth or development
Militate: The act of act or evidence against the success of something
Proliferation: ability of giving rise to new growth or younger   ones rapidly
Segmentation. Separation or fragmentation into parts
slammed: Set of symptoms which together indicate a particular  abnormal condition.
Sulfating: causing to die as a result of not being able to cope
Un- Auspiciously, no sign off future succers favorable promising
Unscrupulous: without morale principle
Upheavals: Sudden violent social change, it could also be political.
Vacuum: Completely empty space.