-
The Impact Of Marketing On Financial Institution
[A Case Study of First Bank Nigeria Plc. Ilorin]
CHAPTER ONE -- [Total Page(s) 2]
Page 2 of 2
-
-
-
1.5 THE SCOPE AND LIMITATION OF THE STUDY
This research work is concerned with the impact of marketing on financial institutions particularly the banking industry (A case study of first Bank of Nigeria plc Ilorin), the study is limited to marketing concept.
Marketing mix, marketing segmentation e.t.c adopted by the banks to promote its service and attach new costumers.
The geographical scope of the study is Ilorin metropolis where the case study is situated on its environs. The industrial scope of the study entails the banking the banking industry. The limitation of this research work is the in ability of the management to give accurate information about the efficiency of marketing activities in their operations.
Another limitation is the lacks of sufficient time and funds because the researchers are dependents on financial assistance, it is quite expensive to adequately carry out the research.
1.6 LIMITATION OF THE STUDY
The following terms as contained in the project work are operationally defined thus:
(1) MARKETING: Market is an anticipated needs and wants of the consumers and product of goods and service towards the satisfaction of the anticipated needs and wants of consumers at a profit.
(2) FINANCIAL INSTITUTION: Financial institution are establishment or organization that are responsible for providing financial services like acceptance of deposit, loans, stocks and bounds, creating money. Foreign exchange services whole-life assurance e.t.c to their customer, the government as well as the public at large. Example of financial institution includes banks, insurance companies’ e.t.c.
(3) COMMERCIALIZATION BANKS: These are financial institutions that deal with acceptance and safe keeping of deposit and other valuable properties (i.e. Gold, will e.t.c) as well as granting loan to their customers.
(4) COMMUNITY BANKS: Community banks in Nigeria are self sustaining financial institution owned and managed by local communities such as communities development association, town unions, co-operative, societies, farmer’s group, social clubs e.t.c in order to provide financial services to the respective communities.
(5) MERCHANT BANKS (INVESTMENT BANKS): The merchant banks are wholesale bankers whose deposits are usually a large sum i.e. about half a million naira (N500, 000) and above are accepted as deposit from their corporate customers. They are financial institutions providing special services like acceptance to bills of exchange, corporate finance management and equipment leasing.
CHAPTER ONE -- [Total Page(s) 2]
Page 2 of 2
-
