CHAPETR ONE
INTRODUCTION
1.1 Background of the study
1.2 Statement of problem
1.3 Objective of the study
1.4 Research Hypotheses
1.5 Significance of the study
1.6 Scope and limitation of the study
1.7 Definition of terms
1.8 Organization of the study
CHAPETR TWO
2.0 LITERATURE REVIEW
CHAPETR THREE
3.0 Research methodology
3.1 sources of data collection
3.3 Population of the study
3.4 Sampling and sampling distribution
3.5 Validation of research instrument
3.6 Method of data analysis
CHAPTER FOUR
DATA PRESENTATION AND ANALYSIS AND INTERPRETATION
4.1 Introductions
4.2 Data analysis
CHAPTER FIVE
5.1 Introduction
5.2 Summary
5.3 Conclusion
5.4 Recommendation
Appendix
Abstract
This study is the impact of promotional activities on the marketing of golden morn. The total population for the study is 200 staff of Nestle Nigeria in Lagos and Aba. The researcher used questionnaires as the instrument for the data collection. Descriptive Survey research design was adopted for this study. A total of 133 respondents made up production managers, marketers, senior staff and junior staff was used for the study. The data collected were presented in tables and analyzed using simple percentages and frequencies
CHAPTER ONE
INTRODUCTION
- Background of the study
The deregulation of the Nigerian economy came into being in 1986. By that time, the banking industry was one of the most vibrant and most sought after by investor in Nigeria. According to Nwankwo (1991:2), the number of commercial and merchant banks rose from 33 (thirty three) commercial banks and 15 merchant banks in 1987 to 65 (sixty five) and 47 (forty seven) respectively in 1991. The bank industry entered this decade with less caution but aware of global economic changes. According to Clausen (1990:12) the industry entered the new decade well aware that the world was about to change but in retrospect not fully realizing the far- reaching extent of that change nor its velocity and impact. In the ensuring six years the industry was unable to respond rapidly enough to the wrenching dislocation brought by deregulation, fierce new competition and unstable world economy. Crisis erupted within the first quarter of this decade and the condition deteriorated in the following area:
1. The industry was losing money, with not losses in billions since mid nineties.
2. Some of the banks suspended payment of dividends on their common stocks:
3. Some of the banks were facing hostile takeover attempts by the regulatory bodies (NDIC and CBN)
4. Regulatory bodies had directed several banks boards of Directors to redress the worsening capital base and
- Questions were raised about some of the bank’s ability to survive independently. Marketing in the banking industry in Nigeria as we know today, owes much to the survival strategies of some new generation commercial and merchant banks after the banking distress of 1992 through 1996. This development attends the tastes and demands of the society stimulated competition and created selling opportunities and rewards. The banking habits now spread throughout the social classes. New services have been introduced as the bank met competition, fill gaps in their services range, or try to steal a march on the competition by endeavouring to discover and satisfy the needs of new niche markets. Business customers have also witnessed the wind of change as the banks gained a greater appreciation in its highly profitable corporate markets. Thus, the banks own marketing expertise has been pushed along by competition and a desire to gain market share. It has also been pulled along it’s customers demanding more flexible advantageously priced and comprehensive facilities. The needs of customers, and prospective ones, cannot be ignored by any bank especially in larger markets like Lagos and Aba environment. Relying merely on selling only those services which are already available is, at best, a short-term expedient, as market attitudes preference, technology and environmental factors are constantly changing. To survive profit must be earned by banks and part of this process involves containment of cost when seeking the most profitable markets to exploit. Therefore, banks resources must be channeled towards the potentially more profitable “Banking markets” which in turn, necessitates making a choice among larger markets like Lagos, Aba, Kano, Onitsha, Kaduna etc. It is the identification of the right balance of resources that calls for the marketing skills of research, planning and assessment.
1.2 STATEMENT OF THE PROBLEM
Without customers, banks would have no revenues. Marketing is directed at protecting and expanding this stream of revenue. Organization (including banks) regards customers wherever they may be as their single most important reason for existing. They operate in a rapidly changing, regulatory and economic environment. Consequent upon this, it is the job of the marketer to understudy and understand the purchase decision/patterns of these customers who have been known to be difficult and complex in nature. The task becomes even different in the light of increasing competition, growing customer sophistication, and innovation in an environment of trade liberalization, financial deregulation and internationalization. The problem was further compounded by the recession in the economy, which led to the introduction of S.A.P (1990: 15) pointed out, between 1986 and 1992, there were low capacity utilization in most industries, declining per capita- income and reduced disposable income. The bank sector thus become more competitive and business environment like Lagos, Aba, Onitsha, Port Harcourt, Kano, etc developed peculiar business climates/markets, and attracted a large number of bank branches to their areas. Against this background, it became necessary for us to establish the locational factors that influence banks in the marketing of their financial services, with particular reference to Lagos and Aba markets.
- OBJECTIVE OF THE STUDY
The objective of this study is to examine the locational factors influencing the marketing of financial services in Lagos and Aba markets. It will seek to do the following:
i Examine if there are locational differences between factors affecting banks preference for Lagos and Aba markets.
ii Consider the factors that determine banks preferences for a particular location in both Lagos and Aba markets.
Iii To ascertain the impact of promotional activities on marketing of goldenmorn
- RESEARCH HYPOTHESES
Ho: Banks are not establishing many branches in Lagos and Aba markets
Hi: Banks are establishing many branches in Lagos and Aba markets
Ho: Accessibilities to these bank branches does not influence their patronage in this bank market
H2: Accessibilities to these banks branches influences their patronage in these markets
- SIGNIFICANCE OF THE STUDY
This research will attempt to show the locational factors influencing the marketing of financial services in Lagos and Aba markets. Issues to be analyzed will include people banking habits: branch network; technology application; interest rates on Loans; security of funds, response time amongst others. The customers will be classified into 2 (two) broad group for analysis viz corporate bodies, and
i. Corporate bodies, and
- Individuals
We shall therefore strive to establish the existence of differences in factors that influence various bank choice of location in Lagos and Aba business banking environment. Having established the existence of a difference or lack of it. The research will then make suggestions that would help banks price their product better in the Lagos and Aba competitive banking environments improve on their technology applications, ensure security of customer’s funds and other general attributes that customers consider vital.
- SCOPE AND LIMITATION OF THE STUDY
The scope of the study covers the impact of promotional activities on the marketing of golden morn. The researcher encounters some constrain which limited the scope of the study;
- a) AVAILABILITY OF RESEARCH MATERIAL: The research material available to the researcher is insufficient, thereby limiting the study
- b) TIME: The time frame allocated to the study does not enhance wider coverage as the researcher has to combine other academic activities and examinations with the study.
- c) Organizational privacy: Limited Access to the selected auditing firm makes it difficult to get all the necessary and required information concerning the activities.
- DEFINITION OF TERMS
PROMOTION: In marketing, promotion refers to any type of marketing communication used to inform or persuade target audiences of the relative merits of a product, service, brand or issue. The aim of promotion is to increase awareness, create interest, generate sales or create brand loyalty.
MARKETING: Marketing is the study and management of exchange relationships. Marketing is used to create, keep and satisfy the customer. With the customer as the focus of its activities, it can be concluded that Marketing is one of the premier components of Business Management – the other being innovation.
1.8 ORGANIZATION OF THE STUDY
This research work is organized in five chapters, for easy understanding, as follows
Chapter one is concern with the introduction, which consist of the (overview, of the study), historical background, statement of problem, objectives of the study, research hypotheses, significance of the study, scope and limitation of the study, definition of terms and historical background of the study. Chapter two highlights the theoretical framework on which the study is based, thus the review of related literature. Chapter three deals on the research design and methodology adopted in the study. Chapter four concentrate on the data collection and analysis and presentation of finding. Chapter five gives summary, conclusion, and recommendations made of the study
