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Banking transactions in some selected local government in Ogun such as Ifo,
Ado-odo, Yewa is not new to us as we have been practicing this system for over
thirty years after independence. However it is on this background that two systems
of operations were adopted for effectiveness and efficiency of the product
management in various banks. In the past we use to have an orthodox banking
process whereby the banker relaxes on this sit waiting for customers to bring
business. This type of banker is looked at as somebody with rigid ideas about
bankable projects and which in turn retards the smooth flow of banking
operations. Another type of banking process adopted as conventional is the
unorthodox system whereby the banker is evolved in looking for customers.
Because they want to maximize profit, the banks employ all possible marketing
promotional strategies in order to survive, hence competitors has come into play
and thereby creating innovation and business acumen. Knight Lester B. (2007)
status of banking marketing Washington D. C. American Bankers Association
states that banks primarily especially commercial banks are engage in business of
collection, payment and depository functions as well as credit management.
According to Kotler (2004) stated that the survival of any bank depends on the
manner it functions and therefore it has to depend on the market place for its
profitability and environments of the economy which it serves. It is worthy to
mention that the ability of any business to serve and retain its customers depends
mostly on the quality and the effectiveness of the product management it offers.
The quality of services provided by the any organisation is better judged in terms
of it’s ability to bestow the customer’s with the desired satisfaction. In this regard
characteristics such as reliability, standardization, availability and other desired
attributes associated with service combine to determine the effectiveness of the
product management in the marketing of banks services in the three local
government areas.
Martins (2012) confirmed that the image commercial bank has is important
because it determines the customers patronage of bank.
According to advertisers watchdog awareness creation strategy has been limited
to advertisement which does no more than informing the customers about the
services they offer and the address of their location. All the claims about efficient
courteous and speedy services are false and advertising in banking industries can
only become a reality when services the bankers render is equated to match the
claims they make I the advertisement. According to Azikiwe (2003) expressed his
annoyance and disappointment over the treatment meted on him from a bank staff
in Lagos. The story is still the same every where even after the days of the white
men. Loans are still granted guarding to customers and if granted, it is alleged that
the managers demand personal cuts, long queues, man-know-man etc.
Banking habit among the people is still very low in sipte of huge profits
recorded by banks annually, according to Engu and Warsaw (2010) indicated that
there is a ray of hope and government rural banking programme if well planned,
coordinated and pursued vigorously will help to increase the banking habit of our
populace, increase efficiency and effectiveness of it product management”. There
will also be an increase competition among the banks for customers. As at the end
of March 1985, there were thirty two commercial banks, operating Ifo, Ado-Od
and Yewawitu a total of one thousand one hundred and fifty nine (1,159) brand
The competition among banks would center on non-price lines since the Central
Bank controls the interest, the aggregate among to be lent to some categories of
customers, the sector that more funds should be decided to what should be
accepted as security for the loans and especially the type of business that banks
should go into. How banks attracts serve and retain customers is left for to decide.
All these put together including deposits, loans and advances make for effective
product management.
The business of banking entails the collection and transmission of funds from the
saving surplus to the saving deficit economic units. Thus banks act as the mobilize
of funds to all sectors of the economy. Commercial banks have growing from
about seven in 1952 to thirty two by March 1985 with 1159 branch network. But
the industry has continuously been under attack by main observers especially
marketing critics for failure to utilize fully the advantages of modern marketing
principles in operating their banking business for better achievement of co-operate
objectives and goals. Unfortunately, product management is the most criticized of
all banking practices.
Thus the poor product management practices of the banks have resulted into sense
of complaints of dissatisfaction among customers about the quality of services
offered. To them services are inadequate and poorly rendered. Beside most
customers and potential customers are not fully aware of the bank services.
The problems to be addressed in this study are: the customers have equally
criticized the charges of the bank and varsity of services offered by this bank.
The importance of the industrials to the economy of the country need met to be
over – emphasis but yet they are found writing in optimum satisfaction of it’s
numerous customers. In view of the importance of this industry in the economy,
the researchers seek to evaluate the effectiveness of the product management in
this industry for increased performance.
The objective of this study is to determine the effectiveness of product
management as adopted by 1st Bank in the marketing of banking services in Ifo,
Ado-Od and Yewa Local Government Area. At the end of this research, it is hoped
that this exercise will assist to provide the management with relevant information
as an aid towards effective marketing of its services.
This research work seek to:
1) To determine the length and quality of service being afforded by first bank
limited to its customers.
2) To determine whether the attitude of the bank staff affects the customers
patronage of the bank
3) To find out whether writing time and armchair posture adopted by the banks
affects the quality of services they render to customers.
4) To demonstrate the importance of applying marketing, principles and practices
and determine if the concept of man-know-man affect the bank loan and
5) To find out if there is any effect of non-availability first banking services in the
rural areas and effect of proximately on customers patronage.
6) To obtain any information which many are relevant to the management in the
planning and executives of promotional decision for effectiveness and
This study is limited to first bank in located at Sango and also customers of the
bank within Ifo, Ado-Odo/Ota and yew metropolis.
1. Does the quality of services offered by the first bank lead to customer
patronage in the selected local government areas.
2. Does the effective product management of the first bank leads to its
3. Does the promotional activities of the first bank impact negatively
on customer’s awareness of her services?
Ho: The quality of services offered by the first bank do not lead to customer
Hi: The quality of services offered by the first bank lead to customer
Ho: The First bank changes does not lead to increase customer’s
Hi: The First bank changes does to increase customer’s patronage.
Ho: The effectiveness product management of the first bank does
not leads to its availability.
Hi: The effectiveness product management of the first bank leads to
its availability.
Ho: The promotional activities of the first bank impact negatively
on customer’s awareness of her services.
Hi: The promotional activities of the first bank impact positively
on customer’s awareness of her services.
The importance of this study is that after looking into the effectiveness product
management of the First bank in marketing their services, one will be a position to
see whether the quality of services rendered by First bank has influence on the
customers. It will help us to find out whether the attitude of the bank staff affects
the customer’s patronage. This study will also help us to find out whether armchair
alleviate whether promotional problems the bank may have been encountering in
marketing of their services.
Finally, it is hoped that the findings of this study will be of immense help to the
banking industries as a whole and first bank Ltd in particular in that it will attempt
to highlight areas of deficiency with a view to helping management improving its
services and our recommendation if implemented would help the bank to improve
it’s operations and profit figures.
Promotion: Promotion has been defined by American Marketing Association as a
strategy for stimulating marketing demand and gaining competitive edge by
informing, persuading and services and identified audience.
Strategy: Strategy refers to the planning and adjustment of efforts to attain a
specific objectives. Strategy also encompassed act of conducting a campaign and
maneuvering things.
Marketing: According to Kotler, marketing is human activity directed as
satisfying needs and want through exchange process.
Services: These are separated indefinable activities, which provide wants
satisfaction when marketed to consumers/industrial users and which are not
necessary tied to the sale of a product or another services. J. M. Rathmell, Journal
of Marketing, October 1966, 33.
Banking: The banking ordinances of 1952 defined banking business as the
business of receiving from the public on current account, money which is to be
payable on demand by cheques and of making advances to the customer?
Banker: A banker is a dealer in debt. It is also any body or body persons whether
in cooperated or not that carry on business of banking.
Customer: There is no statutory definition of customer. The relationship arrives
when a person or group of persons, society, firm customer, which the bank
normally accepts customer also means one accustomed to frequent a certain place
of business or a buyer.


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