The Impact Of Marketing Strategy On Productivity: A Study Of First Bank Nigeria Plc

ABSTRACT

The challenges of measuring marketing strategy in relation to productivity has been inadequately address by previous researches and marketing text in Nigeria. Hence this study examines the effect of marketing strategy of First Bank. Out of the total population of first bank, Kaduna main branch with a staff strength of 135 persons were selected as the sample size. The survey method constitute the research design. Questionnaire design by the researcher in five likert scale constitute the research instrument. The mean scores was used to analyze data. The analysis indicates that the marketing strategy adopted by First Bank are basically customer service strategy, advertising, quality improvement as well as unique packaging and effective distribution channels. Marketing strategy of First Bank affect it productivity through the enhancement of customer value which facilitate increase in sales but inspite of this, marketing strategy of First Bank is constraint with problems arising from the inability of First Bank to combine numerous models and tools of marketing used in order to stand dynamism inherent in strategic implementation due to changing marketing environment as well as lack of integrated views of planning and development of marketing strategy. As such it was recommended that there should be Complete “paradigm shift” in managerial thinking, in terms of service quality delivery through continuous education and training of staff in field such as customer satisfaction and customer retention.

TABLE OF CONTENTS

Title page - - - - - - - - - - i

Declaration - - - - - - - - - - ii

Certification - - - - - - - - - - iii

Approval - - - - - - - - - - iv

Dedication - - - - - - - - - - v

Acknowledgment - - - - - - - - - vi

Table of Contents - - - - - - - - - vii

Abstract - - - - - - - - - - viii

CHAPTER ONE

INTRODUCTION

1.1 Background to the study - - - - - - - 1

1.2 Statement of the problem - - - - - - - 3

1.3 Objective of the study - - - - - - - - 3

1.4 Significance of the study - - - - - - - 4

1.5 Research questions - - - - - - - - 4

1.6 Definition of terms - - - - - - - - 5

1.7 Scope of the study - - - - - - - - 5

CHAPTER TWO

LITERATURE REVIEW AND THEORITICAL FRAMEWORK

2.1 Introduction - - - - - - - - - 7

2.2 Conceptual Framework - - - - - - - 7

2.2.1 Concept of Marketing Strategies - - - - - - 7

2.2.2 Types of Marketing Strategy - - - - - - - 9

2.2.3 Strategic Marketing Models - - - - - - - 12

2.2.4 Marketing Strategy Models - - - - - - - 13

2.2.5 Marketing Mix and Strategy Development - - - - - 19

2.3 Theoretical Framework - - - - - - - 22

2.3.1 An Overview of Resource Advantage Theory - - - - 22

2.3.2 Resource-Based Strategy and R-A Theory - - - - - 25

2.3.3 Competence-Based Strategy and R-A Theory - - - - 27

2.3.4 Industry-Based Strategy and R-A Theory - - - - - 28

2.3.5 Brand-Equity Strategy and R-A Theory - - - - - 29

2.3.6 Market-Orientation Strategy and R-A Theory - - - - 30

2.3.7 Market-Segmentation Strategy and R-A Theory - - - - 30

2.3.8 Relationship-Marketing Strategy and R-A Theory - - - - 31

2.3.9 R-A Theory and Conceptual Frameworks - - - - - 32

2.3.10 Schematic of R-A Theory - - - - - - - 33

2.4 Empirical Studies - - - - - - - - 35

2.4.1 Marketing Strategies in Banking - - - - - - 36

2.4.2 Marketing Tasks in Banks - - - - - - - 37

2.4.3 Strategic Issues in Services Marketing - - - - - 37

2.4.4 Challenges Militating Against Marketing Strategies - - - - 41

2.5 Summary - - - - - - - - - 42

CHAPTER THREE

RESEARCH METHODOLOGY

3.1 Introduction - - - - - - - - - 43

3.2 Resign Design - - - - - - - - 43

3.3 Population and Sampling Technique of the Study - - - - 43

3.4 Source of Data Collection - - - - - - - 44

3.5 Method of Data Collection - - - - - - - 45

3.6 Method of Data Presentation and Analysis - - - - - 45

3.7 Justification of Method of Data Collection and Analysis - - - 46

3.8 Summary - - - - - - - - - 46

CHAPTER FOUR

DATA PRESENTATION AND ANALYSIS

4.1 Introduction - - - - - - - - - 47

4.2 Respondent Characteristics - - - - - - - 47

4.3 Data Presentation and Analysis - - - - - - 48

4.4 Major Findings of the Study - - - - - - - 55

4.5 Summary - - - - - - - - - 56

CHAPTER FIVE

SUMMARY, CONCLUSION AND RECOMMENDATION

5.1 Summary - - - - - - - - - 57

5.2 Conclusion - - - - - - - - - 57

5.3 Recommendations - - - - - - - - 58

5.4 Limitation of the Study - - - - - - - 59

References - - - - - - - - - 60

Appendix I - - - - - - - - - 65

Appendix II

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(2014, 09). The Impact Of Marketing Strategy On Productivity: A Study Of First Bank Nigeria Plc.. ProjectStoc.com. Retrieved 09, 2014, from https://projectstoc.com/read/3012/the-impact-of-marketing-strategy-on-productivity-a-study-of-first-bank-nigeria-plc-3679

"The Impact Of Marketing Strategy On Productivity: A Study Of First Bank Nigeria Plc." ProjectStoc.com. 09 2014. 2014. 09 2014 <https://projectstoc.com/read/3012/the-impact-of-marketing-strategy-on-productivity-a-study-of-first-bank-nigeria-plc-3679>.

"The Impact Of Marketing Strategy On Productivity: A Study Of First Bank Nigeria Plc.." ProjectStoc.com. ProjectStoc.com, 09 2014. Web. 09 2014. <https://projectstoc.com/read/3012/the-impact-of-marketing-strategy-on-productivity-a-study-of-first-bank-nigeria-plc-3679>.

"The Impact Of Marketing Strategy On Productivity: A Study Of First Bank Nigeria Plc.." ProjectStoc.com. 09, 2014. Accessed 09, 2014. https://projectstoc.com/read/3012/the-impact-of-marketing-strategy-on-productivity-a-study-of-first-bank-nigeria-plc-3679.

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