EFFECT OF MARKETING ON CUSTOMER SATISFACTION IN THE BANKING INDUSTRY IN EDO STATE
in BANKING AND FINANCE PROJECT TOPICS AND MATERIALS on August 26, 2020CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND TO THE STUDY
Of all business activities or functions, none is as interested in the consumer and his purchasing behaviour as marketing. Marketing is invariably connected with the research into consumers satisfaction, namely what the consumer want, need, prefer and value, who are the prospective consumers and where they live, their income and mode of spending, how and why they make purchase decision and so on Claessens, S. (2004). Infact the influencing of the consumers satisfaction is the primary task of the marketing department in any organisation.
Equally, marketing tries to define the right type of products in terms of the company’s objective and attempts to make it available at the right place and at the right price, with the right promotions Claessens, S. (2004). This the performance of marketing functions involves basically marrying consumer wants and with the appropriate products and services. It is the duty of the firm to adopt appropriate marketing strategy to attract customers to its products. This is important because in a free market economy, the ultimate judge of the firm performance is the consumer.
Consumer purchasing behaviour will determine the fate of the enterprise, this behaviour can best be described by a marketing manager who can also tell how he will be influenced by market variables such as price, promotion, product (variation and distribution) and place.
Marketing strategy depicts the overall company program for selecting a particular market segment and then satisfying it’s consumers through careful use of elements of the marketing mix-product, price place (distribution) and promotion. Effective marketing requires decisions that successfully integrate a forms marketing program towards satisfying the consumer whose act in obtaining and using goods and services, including his decision process that precede and determine those acts are highly affected by the strategy adopted by the marketing manager in marketing the firm’s products Raab, G. (2008).
Since the performance of marketing functions involves basically marrying consumer needs and wants with the appropriate products and services and since it is generally believed that marketing begins and ends with the consumer, this project therefore attempt to examine the effect of marketing on customer satisfaction on banking industry in Edo State following it’s impact on consumer behaviours Roscoe, J. R. (1975). Efforts are therefore made to show the relationship between sales turnover and amount spent on marketing activities and it’s resultant impact on consumer purchasing behaviour. We shall also concentrate on establishing how consumer purchasing behaviour is influenced by a forms strategy for accomplishing marketing objectives and plans.