7How will you rate marketing
effort of the bank
8Marketing strategy has
contributed to the bank survival
Source: Field Survey 2003.
The table above shows that from the 118 respondents, 85(72.0%) were male while 33(28.0%) were female. This is an indication that males dominate the operation of banks in Nigeria. The table also indicates that respondents are matured because about 99 (84.0%) of them fall between 31-50 years of age. This is an indication that their information is reliable and dependable.
More also, 79(66.9%) of the respondents are married while 39 (33.1%) are still single. As revealed from the table 31 (26.3%) of the respondents have spent between 1 to 5 years in the bank while 68 (57.6%) have spent between 6-10 years; only 19 (16.1 %) of the respondents spent above ten years. However, none of the worker had spent more than 15 years. One can conclude that the fact that most of these respondents are still in (31- 40) age group might account for the few years of wrong experience.
As regards the method of creating awareness by the banks about 98(83.1%) of the staff agree that is the most effective means while 20(16.9%) say 'No'. 104(88.1%; of the respondents agree that radio advert is the most effective while 14(11.9) respondents disagreed. As regards newspaper and poster about 91(77.1%) and 85 (72.0%) respondents respectively are in support of the two promotional tools while 27 (22.9%) and 33(28.0%) are not in support of the tools.
With respect to who determines marketing strategies, about 52(44.1%) said that the management at head office determines it while 39(33.0%) responded that it is being determined at branch level while 27i22.9°6) respondents said that is determined by individuals and groups outside the organisation such as consultancy firms. This shows that the local branch is not the major determinant of marketing strategy in their branch. In the rating of marketing effort of the banks, 39(33.1%) of the respondents rate it as excellent, 59(50.0%) respondents rated it as 'good' and 20(16.9%) rated the marketing effort as being fairly adequate.
The table also shows that about 46(39.0%) of the respondents strongly agreed that the continued survival of the banks depend on the application of marketing strategy while about 51 (44.1 %) agreed that the development and implementation of marketing strategy has contributed to the continued existence of the banks. Only 7 respondents disagreed, and 14 respondents had no opinion i.e. they did not make any decision.