THE
IMPORTANCE OF MARKETING RESEARCH IN THE NIGERIAN BANKING INDUSTRY
Published
byChrisantus Oden389
ATTENTION:
BEFORE YOU READ THE ABSTRACT OR CHAPTER ONE OF THE PROJECT TOPIC
BELOW, PLEASE READ THE INFORMATION BELOW.THANK YOU!
INFORMATION:
YOU CAN GET THE COMPLETE PROJECT OF THE TOPIC BELOW. THE FULL
PROJECT COSTS N5,000 ONLY. THE FULL INFORMATION ON HOW TO PAY AND GET THE
COMPLETE PROJECT IS AT THE BOTTOM OF THIS PAGE. OR YOU CAN CALL: 08068231953,
08168759420
THE
IMPORTANCE OF MARKETING RESEARCH IN THE NIGERIAN BANKING INDUSTRY: A CASE STUDY
OF BANK PHB
It’s
necessary to review the need for marketing research in an industry. However, it
does not have to be that way, but because many companies and even industries
have failed to take marketing research important in product
development.Marketing managers and other professionals are now relying more on
marketing research in product development to make better decision clearly,
marketing research is vital to marketing decision making. Robert Ferber
asserted that “before the product is produced, market survey must be conducted
in other to ascertain the acceptance of the product in marketing sphere”. He
went further to buttress his fact by sating that just as the efficiency of
production is dependent on product research, so also the efficiency of
marketing depends on marketing research.Marketing research he notes refers
broadly to the development of the most efficient means of marketing, that is
the discovering of new and better methods of marketing, more economical means
of distribution, new market, better means of selling and other marketing aids.
Marketing concept has become firmly established in many organizations.
Marketing research focus on understanding consumers buying habit in relation to
development in product research.A research of this nature will be incomplete
without insight into existing related literature on the subject under study.
Literature survey therefore, is described as “A research of strategies trade
journals, Articles, Magazines, Newspapers and boos for data or for insight into
the problem at hand”.
For the
purpose of this study, the researcher has relied more on the contribution of
authors from Britain and United State of America who have published articles on
marketing research, also those of Nigeria contributions in this field of study.
Marketing is
generally interpreted today as including all those business activities
concerned with the development, production and distribution of product to
identifiable market, where they will provide satisfaction to those who buy
them.
Marketing
research therefore, covers product development, identifying the market and
suitable method of selling, distribution, promotion, pricing and sales service
facilities. Marketing research has an advisory role in marketing management. It
is used to acquire and analyze information and to make recommendations to
management as to how marketing problems should be resolved. Tall and Hawken’s
(1980:1)
Different
association, group and organizations tried to solve the problem which the
question “what is marketing” has created, but seems they looked at marketing
from different perspective. In this study the following definitions by
marketing scholars are considered.William J. Stanton, (1975) in his book,
foundamentals of marketing, defines marketing as “ the total system of
interacting business activities, designed to plan, price, promote, and
distribute want-satisfying product and services to present and potential
consumers ”.The American Marketing Association (AMA) in its own definition says
that “marketing is the performance of business activities that direct the flow
of goods and services from the producers to the consumers”The institution of
marketing (London) defines marketing as the “management process which is
responsible for identifying anticipating and satisfying consumer’s requirement
profitably”.Marketing is about identifying and meeting human and social
needs.The above definitions receive credit because they have considered
marketing from identification of needs, wants, users, and effective communication
to the level of satisfying them through effective promotion and distribution of
these wants.
RESEARCH
The oxford
advance learners dictionary defines research as careful investigation carried
out in order to discover new facts, ideas and information’s about subject
matter.Research is a process of finding out. It is a scientific method of
controlling enquiry. It identifies problems and attempts to find solution to
these problems. In doing this, research ask question, tells why is important,
describes how it answered and interprets it briefly to the users.
MARKETING
RESEARCH
Philips R.
Cateora and John L. Graham (2005) defines marketing research as the systematic
gathering, recording and analyzing of data to provide information useful in
marketing decision making.British institute of management (1962) as “the
objective gathering, recordings and analyzing of all fact about problems
relating to the transfer and sales of goods and services from producer to
consumer”.Geen and Tull (1970) define marketing research as consisting of a
systematic and objective collection as well as appropriate analysis of
information that will provide solution to all marketing problems.According to
Philip Kotler 13th edition, marketing research is the systematic design, collection,
analysis and reporting of data and findings relevant to a specific marketing
situation facing company.
From the
above definitions, on can say clear that marketing research as an essential
management tool that executive can use in inducting the risk in the environment
of operation by obtaining potential information and putting the resources at
the disposed of the manager in order to move the organization forward.
THE
MARKETING RESEARCH PROCESS
Effective
marketing research follows six steps which is shown in the figure below
HOW
TO GET THE FULL PROJECT WORK
PLEASE,
print the following instructions and information if you will like to order/buy
our complete written material(s).
HOW
TO RECEIVE PROJECT MATERIAL(S)
After
paying the appropriate amount (#5,000) into our bank Account below, send the
following information to
08068231953
or 08168759420
(1)
Your project topics
(2)
Email Address
(3)
Payment Name
(4)
Teller Number
We
will send your material(s) after we receive bank alert
BANK
ACCOUNTS
Account
Name: AMUTAH DANIEL CHUKWUDI
Account
Number: 0046579864
Bank:
GTBank.
OR
Account
Name: AMUTAH DANIEL CHUKWUDI
Account
Number: 2023350498
Bank:
UBA.
FOR
MORE INFORMATION, CALL:
08068231953
or 08168759420
https://projectmaterialsng.blogspot.com.ng/
https://foreasyprojectmaterials.blogspot.com.ng/
https://mypostumes.blogspot.com.ng/
https://myeasymaterials.blogspot.com.ng/
https://eazyprojectsmaterial.blogspot.com.ng/
https://easzprojectmaterial.blogspot.com.ng/
Comments
Post a Comment