Marketing Management and the Commercial Banks Performance in Abakaliki Metropolis, Ebonyi State, Nigeria
Keywords:
Marketing management, marketing mix, price management, place management, financial service delivery, commercial banksAbstract
This study examined marketing management and the commercial banks' performance using commercial banks operating in Abakaliki metropolis, Ebonyi State, as a case study. The study adopted a survey research design. Primary data were obtained through structured, five-point Likert-scale questionnaires administered to 57 marketing staff drawn from all 14 commercial banks operating in Abakaliki metropolis, and analysed using the Statistical Package for Social Sciences (SPSS). Pearson chi-square correlation analysis was used to test the two null hypotheses formulated for the study. Findings show that the price management strategy comprises interest charged on loans and advances, interest paid on deposits, service charges and pricing practices has a positive but statistically insignificant effect on financial service delivery of commercial banks in Nigeria (χ²(8, N = 285) = 11.107, p = .196). Conversely, place management strategy comprising branch expansion, branch network, branch location and channel of distribution has a positive and statistically significant effect on financial service delivery of commercial banks in Nigeria (χ²(9, N = 228) = 34.656, p < .001). The study concludes that, among the marketing management strategies examined, place management exerts a considerably stronger influence on financial service delivery than price management, whose potential has not yet been fully harnessed by Nigerian commercial banks. The study recommends that bank management should institute a more integrated marketing management framework that realigns pricing policy with perceived customer value while sustaining investments in branch networks, automated teller machines, mobile banking and other electronic distribution channels.
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