CHAPTER ONE
INTRODUCTION
1.0Â BACKGROUND OF THE STUDY
Marketing concept is a customer oriented philosophy which states that customer’s satisfaction is the economic and social justification of firm’s corporate existence. These philosophies hold that the company should be customer oriented. Strive for profitability. Sales volume and coordinate all its marketing activities. Marketing management however is the vehicle that business uses to capture the marketing concept. Kurtz (1992. Pg 3) defines marketing management as a unifying approach marshalling and directing the total resources of a business firm towards the determination and satisfaction of a customer and consumer wants in a way planned to enhance the firm overall profit position. Where the marketing concept is recognized, there is a total change in the basic philosophy of business. Instead of trying to sell what can be produced. Management produces what is really needed by the customer though profit criterion is there. The element of serving and keeping the customer satisfied are equally important to the company. By realizing that it is not merely selling a particular product but particular need of a customer is satisfied effectively. The essence of banking services marketing is to provide the desired satisfaction to customers and make the business of banking maintain a sound footing and sustainable growth in the short and long run. The current industrial, commercial and technological metamorphosis with increased competitive pressure. Customer expectation and other unstable environmental faces are clear indications that a business either adopts marketing concepts philosophy or goes out of existence. The recent proliferation of banks in Nigeria denote a more intense competition in which only those capable of adopting dynamically would be able to maintain a sustained growth and profitability.
