CHAPTER ONE

INTRODUCTION

        Deposit mobilization is the bedrock of the present future growth of banks. In the past emphasis was on marketing and distribution of goods but with recent development which arises duet o technological economical and social changes as well as changes in the people expectation marketing of financial services has gone beyong these for the continuous survival of financial institution.

        The traditional approach to banking began to chances as bankers come to realize that marketing has a role to play in any modern organization whether such organization is profit oriented or not profit oriented. The role of marketing become important in Nigeria as the business of banking grow from the function of taking deposit; lending money transmission services to include a host of other financial services. Profit making activities in an organization is very important, profit have to be made ensure survival and to finance development.

        In an organization like commercial banker profit marketing activities is a function of intelligent marketing strategy in business. It involves the effort to understand satisfy the need of both present and potential customers. In order to satisfy customer, the need for the application of different element knows as marketing mix.

        The marketing mix which can be defined as the combination of element which must be linked of mix of together in a unique manner of devise marketing strategy. Decision made in each of these areas are design to provide the most promising means of meeting the needs of target market. That is a well defined set of customer whose needs the marketing want to satisfy.

        The banking industry in Nigeria is highly competitive. The establishment of new banks like oceanic bank, Zenith bank, diamond bank etc. recent year and the opening of numerous rural branches by the bank has increase competition within the banking industry. The completion centers and around quality of services provided location, building and tradition and adaption of contracts. Other areas of competition includes innocation and adoption of modern technique like computerization of their services.

        Unlike the marketing of tangible good whose main taks is to formulate stranges for pushing their goods to the final consumer, marketers of banking services have two to achieve in their marketing services.

        The primary function is to mobilize funds for lending proposes by an accepting deposition various account like savings time or fixed deposits and current demand deposits.

        These functions are not limited to the trust banking alone. Furthermore the marketer of banking services also needs to design strategy for investing their find just like marketer of tangible ways were each subset may be regarded as largest market. The banking market is also segmented into money and capital market and this according to the type of financial and required by the customers.

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