EFFECTIVENESS OF STRATEGIC MARKETING IN NIGERIAN BANKS: A STUDY OF SOME SELECTED BANKS

ABSTRACT
The research project focuses on the effectiveness of strategic
marketing in Nigerian Banks. Three selected banks namely All States
Trust Bank. Citizens bank and Afribank Plc were used as case study.
Some of the objectives of the study included;
(i) To determine whether the use of strategic marketing
strategies enable banks to achieve financial
intermediation objectives.
(ii) To find out the strategic marketing tools banks use most
in building/sustaining customer confidence in the banking
industry.
(iii) To also ascertain whether banks’ adoption of strategic
marketing tools has increases customer patronage.
(iv) And to, find out, if the adoption of strategic marketing
principles builds a favourable corporate image of banks.
Literature on strategic marketing topics, customer relations, banking
industry was extensively reviewed. Both primary and secondary data
were used for the study. Initially some high ranking officers of the three
banks were interviewed and information obtained from them quite useful
in pursuing certain area of inquiring and which later formed the basis for
the construction of the questionnaire and formulation of hypothesis.
For the methods of data analysis, percentages, tables and chi-square
were used. Chi-square was used in testing of hypothesis. The findings
made include:
(1) The use of strategic Marketing strategies makes achieve their
individual financial intermediation objectives.
(2) Adoption of marketing public relations tools in the operation of
a bank helps her in build customers confidence on the banking
industry.

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