THE IMPACT OF APPLICATION OF MARKETING CONCEPT IN THE NIGERIA PUBLIC SECTOR INDUSTRY

ABSTRACT

Marketing activities play a vital role in the survival and growth of any organization. In recent time, marketing activities in the service industry have been posing serious problems to the service operators. This is because of the competitive nature and the increase in the number of services industries. The objective of this paper is to examine the application of marketing concept in the banking industry, the study is based on information gathered and collected from both primary and secondary sources. Finding of the study revealed that applying a dominant role in the banking industry. This study also revealed the important and the benefit of applying the application of marketing concept in the Nigeria banking industries. Therefore, the continued existence of any service industry will depend on its ability to design and map out appropriate marketing strategy. Date analysis for the study was done simply and chi-square (X2) statistic was employed to test further the result of the analysis to confirm that the impact of application of marketing concept in the Nigeria banking industry.

BACKGROUND OF THE STUDY

Marketing concept, the satisfying need and want of the target is better than the competitors at a profit, need not to be over emphasized. Marketing can also be in action or business of promoting and selling product or services. Though it was rarely practice in the past by services industry. The laggard posture of services marketers in applying this marketing philosophy could also be trace to inseparability nature of services.

Apparently, owing to the very nature of banking service, it ought not to be treated in exactly the same way as other manufacturing firs, Banking marketing must essentially perform two different functions. (i) it must attract deposit on one hand

(ii) it must attract borrowers and users of services on the other hand.

The dualistic of banking business entails marking problem that is more complicated than those confronting after business concern. However, in recent times, there have been driven from the market due to their inability to meet up with the N25 billion capital base. The banking industry now being the survival of the fittest has posed a lot of competitive problems on the survivors bank, both the old and new generation bank which have forced the marketing concept and its application in order to fight competition favourably and make more profit.