This study, ‘Improving the efficiency of the Nigerian community banks through the application of the marketing concept’, is aimed at determining the extent to which Nigerian community banks (Ndiafia Community bank as the case organization) practice the marketing conception – customer orientation.
The population of this study is made up of Ndiafia community bank staff and relevant banks customers. In order to carry this study effectively, the researcher used ‘Pilot Survey’ to determine the customer’s sample size as the number of customers of the said community bank were not know.
To ensure that the instrument used for data collection are valid, the researcher insisted on face to face validity method.
Based on this, relevant test hypothesis were made and analyzed. From it decisions were made.
The study indicates that most of the customers of Ndiafia community bank operates only the traditional type of account savings, current and deposit account. It was revealed that customers waste much time in the said community bank. The analysis also indicates that community banks are still practicing the sellers marketing where the customer has no choice and this means non-application of the marketing concept.
Proper testing of the hypothesis also confirmed the fact that Nigerian community banks are yet to embrace the market concept.
The established marketing department should have their customer’s satisfaction in mind. The volume of marketing activities in their operational system should be increased.
The banking industry is one which had a humble beginning. It dates back to the seventeenth (17th) century when the Goldsmith with their strong safe for keeping gold aroused the interest of merchants that started keeping their money with he goldsmith for safe custody. Today, the story is different because of the differences from the banks and its divergent services that has increased tremendously. This also involve community banking.
Community banking as a form of specialized unit in banking industry was introduced in Nigerian in the year 1990. When national budget is to provide grassroots financial services to any defied local community whether in the urban or rural areas. This objective includes the provision of
Its finding principle being self- help and community participation.
WHAT REALLY IS COMMUNITY BANK MARKETING?
Marketing according to the British institute of marketing is a management process that identifies, anticipates and satisfies the requirements of consumers profitably. This definition contains both a concept as technique. The concept places the customer in the fore-front of the corporate thinking. In order word the customer is the king.
However, rational application of techniques should be born in mind so that it should be successful no only economically but also done at a profit to the organization.
Community bank marketing is thus defined as the application of marketing concept in the performance of community banking operations. This pre-supposes that the key to achieving organizational goals of the community bank consist of determining the needs and wants of the target market and tailoring operation towards the satisfaction of such needs and want at a profit to the bank.
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