This project is aimed at exposing some of the problems in the banking sectors which individual banks tries to raise more customers by introducing new techniques that differs from other banks.

The impact of product development and marketing financial service will be evaluated by both quantitative and qualitative techniques. The data would be collected from various sources such as journal, textbooks and Annual Report. Data collected are to be analyzed using statistical computation such as Chi-square and percentages. The choice of this model was simple enough in analyzing the data collected.

The findings shows that there are problems plaguing the product development in banking sector and it is further reinforcement of why the adoption of the marketing concept is a necessity for banks that want to survive and excel In the current economic dispensation.

Based on the findings above the following recommendations are suggested;

Since the aims and objective of government regulation of the banking industry is to aid economic growth and protect the interests of the customers the process which is not in conflict with the philosophy of marketing concept of putting the customers' interest first in everything the organization does, then it follows that banks should put in both tactical and strategic plans to accommodate not only the immediate government changing policies but also to give a semblance of long term stability to its services provision.






Table of content


1.1     Introduction

1.2     Statement of problem

1.3     Research Question

1.4     Objective/Purpose of the study

1.5     Statement of hypothesis

1.6     Significance of the study

1.7     Research methodology

1.8     Scope of the study

1.9     Definition of terms

1.10   Organization of the study


2.0     Literature Review

2.1     Introduction

2.2     The Nigeria financial system

2.2.1  The central Bank of Nigeria

2.2.2 The Banking institutions

2.2.3 Commercial Banks

2.2.4 Development Banks

2.2.5 Specialized Banks

2.3     Government legislation and the Banking industry

2.4     Major characteristics of the Bank Services

2.5     The marketing concept.

2.6     Bank's marketing objectives

2.7     The clement or marketing

2.8    Marketing mix

2.9    Marketing mix and the banking industry


3.1     Introduction

3.2     Research design

3.3     Administration of Instrument

3.4     Method of data analysis

3.5     Model specification

3.6     Definition of measurement

3.7     Population of study

3.8     Sample and sampling procedure

3.9     Restatement of hypotheses


4.0     Analysis of data

4.1     Procedure used for analyzing data

4.2     Analysis of personal data

4.3     Analysis of research questions

4.4     Testing of the hypotheses

4.5     Summary of findings


5.0     Summary, Conclusion and Recommendations

5.1     Summary

5.2     Research findings

5.3     Recommendations

5.4     Suggestion for further studies

5.5     Conclusion






The Nigeria economy has been suffering series of setback in the recent years as the major macroeconomics indicators have been giving negative indications over the years. Some of these indicates have direct bearing. on the financial sector, which has equally witnessed a series of upheavals that greatly affected it fortunes. Infact, the last few years have been a trial period for the financial industry in general and commercial Banks in particular, as the industry entered a period of turbulence, uncertainty, volatility of interest (due to regulations and deregulations) and exchange rate fluctuation while increasing competition and risks deemed to typify the new environment.

The reasons for this could be traced directly to changing government policies, technological changes, changes in economic climatic and competition. It is therefore restating the obvious that Nigeria is at a point in history when the downturn In the economy is forcing the government to re­appraise its past strategies for solving both economic and social problems most especially in the face of increasing economic fortune for the banks against all other economic odds.

It is on this premise that the practice or banking needs to be overhauled and the concept of marketing of banking services introduced. The adoption or the marketing concept is the recognition by the management that the organization exist to serve customers in a way that it will be translated into real sector or the economy and that it can only satisfy its shareholders In the long run by providing customers satisfaction at a point.

Today, Nigerian Banking industry needs to emulate the customers goods, industry by adoption marketing strategies that reflect the demand and specific requirement of the their customers for the overall growth of the industry.(project topics   final year project topics )


The Nigerian banking sectors in the 1989’s are faced with series of problem of which is, in producing more customers and finds.  Because then banks are not faced with any practice of competition, there were few banks and few people who keep their money in the bank.  The banks were not bothered to increase the number of customers they have or to generate more funds, because there was no competition going on in the banking sector then and this did not make them to produce anything new to the general public.

Not until the re-capitalization in banking sector that many banks came up with different kinds of product such as: ATM Card, Cash Card, debit Card, Credit etc.  This project is aimed at exposing some of the problems in the banking sectors, which are introdudual banks tries to raise more customers by introducing new techniques that is differs from other banks.

The gap of study to fill that the management should adopt the rights strategies that will put Bank on a sound fasting among others and should also fashioned out strategic plans for them to grow not only in the sector but in the economy as a whole.


The following research question would be the main focus of this research study:

1.    As product development really affect the operation of Banks?

2.    Are there problem playing the product development in banking sector?

3.    Does management decision policies really affect the product development?

4.    Docs the possession of higher qualifications in the banking industry has any significant in the provision of good service delivery?


The main objective of the study is to examine the; product development of financial service in a competitive Banking Environment using Zenith Bank as a case study.

Other specific objectives arc to:

1.       Identify the strategies used by banks to survive this competition.

2.       Determine the extent to which the marketing is been applied in the banking industry, its impact on customers satisfaction.

3.       Examine effect of product development on customer’s satisfaction.

4.       To determine the effect of product development on banks performances.


The following are the hypothesis that will-be tested during the course of this study:

1.       Ho: There are no significant differences in the quality of services provided by banks.

H1: There are significant differences in the quality or services provided by banks.

2.       Ho: The adoption or the marketing concept in reaction to competition rather than as a response to market needs has no significant effect on its success or failure.

Hi: The adoption of the marketing concept in reaction to competition rather than as a response to needs has significant effect on its success or failure.

3.       Ho: Government regulations play no significant role in the provision of quality service to customers.

Hi: Government regulations play significant role In the provision of quality service to customers.


The research provides a framework of challenges for the competiting bank. This is because in a competitive environment firms will constantly innovate and differentiate services from those of their competitors.

The benefits derived from such innovation is differentiation of products and services qualities and their abilities to face challenges in their operating environment. On the other hand, where products and services are not differentiated competition would not be keen. Consequently, service industries will be affected. Thus, having impact of the overall development of the banking industries. Hence there is need [or research.


The impact of product development and marketing of financial services will be evaluated by both quantitative and qualitative techniques.

The data would be collected from various sources such as journals, textbooks and Annual Reports. Data collected are to be analyzed using statistical computation such as chi-square and percentages. The choice of this model will be simple enough in analyzing the data collected. It also allows for easy manageability and easy interpretation of result for the purpose of research work.


The study covers employees of Zenith Bank who are in marketing department in the head office and marketing officers in some of their various branches which is limited to a randomly selection.

Also, to do a thorough research study of the subject matter will require considerable time, which under, the circumstance is not available. Time, therefore is the greatest constraints to study of this nature.


Capital: This is the amount of money used to set up a business.

Customer: A person who has or intends to have an account relation with a bank.

Deregulated Economy: This is a situation whereby controls on all fiscal, monetary, trade, pricing and exchange rate policies are moved.

Globalization: The idea of the different countries and economics of the world being closely connected together by modern communications and therefore economically, politically, socially and environmentally dependent on each others.

Internet: The large system of many connected computers around the world which people use to communication with each other.

Liquidity: State of being able to raise funds easily by selling assets.

Market: The set of all actual and potential buyer of a product.

Real Sector: The sector or the economy that is involved extracting and turning raw materials to finished goods e.g. mining industry and manufacturing industry.

Target Market: The act of selecting one or more segment of the market and developing a position and a mix strategy for each.


The study has five chapters and the focus of each succeeding chapters is stated below:

Chapter One: It looks at general introduction or this research.

Chapter Two: It deals with the literature review and theoretical analytical framework on which the study is based.

Chapter Three: Highlights on the research methodology.

Chapter Four: Contains the analysis and discussion of the research conducted.

Chapter Five: Contains the summary, Recommendation, Conclusion and suggestions for further study.



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