The Relationship Marketing on Customers Patronage of Money Deposit Banks in Port Harcourt (a Case Study of Zenith Bank Ph City)
CHAPTER ONE
Objectives of the Study
This study primarily aims at:
- To find out how regular Zenith Bank Port Harcourt engage in relationship marketing?
- To evaluate various relationship marketing techniques adopted by Zenith Bank in Port Harcourt town.
- To assess the relevance of such relationship marketing approaches within the context of socio- economic realities of Port Harcourt people.
- To examine people’s perception of such relationship marketing approaches.
- To determine the overall influence of such relationship marketing approaches on customers’ patronage of Zenith bank products and services.
CHAPTER TWO
LITERATURE REVIEW
Focus of Review
This chapter shall focus on the conceptual and empirical review of literatures related to the study.
Also, the contents of other related studies will be reviewed. They will include findings of both published and unpublished works relevant to this study. Ndagi (1999:18) consented to such a step when he advised that, “in order to set up a useful research scope, it is very important that the researcher gets familiar with the findings of previous studies”. Thus, the review will contain conceptual and empirical studies. Ndagi noted further that the review is expected to be selective. This means that the researcher must discriminate in the types of literature reviewed. Therefore, this review will examine the following issues:
- Perception of Relationship marketing and its Influence on Organizational Corporate Image.
- Relationship Marketing Techniques.
- Influence of relationship marketing on Customers’ Patronage.
- Relationship marketing within the context of socio-economic realities.
CHAPTER THREE
RESEARCH METHODOLOGY
This chapter provided relevant details including the research design, population, sample size and the sampling technique used in the study. In addition, the instrument used for the collection and analysis of research data were also stated in this chapter.
CHAPTER FOUR
DATA PRESENTATION AND ANALYSIS
Description of Sample
The sample size for the study was 371 from an estimated population figure of 2663 which is the total number of staff of College of Health Sciences, University of Port Harcourt, Port Harcourt Campus, Rivers State. There were three departments from the 21 departments that make up the Faculties of Medicine, Health Sciences and Technology and Basic Medical Sciences, It therefore suffices that three departments were selected from each of the three faculties, and the population of staff in those selected departments were studied as representative example of all the departments that make up such faculty. However, out of the 371 copies of questionnaire distributed, a total number of 360 copies of questionnaire were returned and found usable based on certain criteria like illegibility of response and double responses. Therefore, a mortality rate of 11 (3%) and a survival rate of 360 (97.0%) was recorded. Out of 300 copies of the questionnaires distributed to business men 200 were returned.
CHAPTER FIVE
SUMMARY, CONCLUSION AND RECOMMENDATION
Summary
The nature of business competitiveness in a capitalist economy like Nigeria and Port Harcourt in particular, has obviously necessitated the application of certain techniques by banks in a bid to sustain customer patronage, remain in business and outwit competitors. As studies showed, customer-firm relationship is a vital factor in this dynamics. Thus, relationship marketing has become a household factor in the literature and several researches aimed at proffering solution to the challenge of sustaining customers’ patronage by business organizations. As a result, this study undertook the examination of the influence of relationship marketing in customers’ patronage of banks with focus on Zenith bank, Port Harcourt city branch. The survey research design was used to study a sample of the population of 371 and 200 business men from the Port Harcourt markets which is the population of academic staff of College of Health Sciences Port Harcourt campus. Respectively, a sample of 6 was purposely selected from a total number of 30 Zenith bank staff of Port Harcourt city branch. Questions were designed in the Likert scale format were used as major instrument for the collection of data while mean score was used for the analysis of research data.
In view of the analyzed data in the previous chapter, in summary, it is confirmed in the study that Zenith bank regularly carry out relationship marketing activities which among others, included face-to- face interaction with the target market on issues relating to not just the bank but the financial well being of the customers as it relates to the banks’ activities. This constitutes interaction which integrates the benefit of advertisement, publicity, public relations, personal selling derives from the fact that it is better and cost effective to retain a customer than to get new ones. As such, relationship marketing efforts of Zenith bank primarily aims at retaining the patronage of customers while using it as a basis to gain new customers for the bank. In view of this therefore the interaction holds sway in the popular comprehensive language in quasi formal or informal setting that do not insult the socio – cultural realities of the Port Harcourt people. It therefore is no surprise that the message content of such relationship marketing is understood by both parties which make room for believability and trust and thus accounts for the perception of the bank as a friend that keeps its promises thereby influence the customers towards patronage.
Conclusion
This study concludes that the relationship marketing activities of Zenith bank pays off, and that the need for relationship marketing has continued to be relevance since majority of organizations no longer depend solely on the media for information in view of the characteristic power vintage. These are taken care of by such factors as relationship marketing activities. Related to this is the seeming aggressive rural banking that characterizes the banking sector. Presently in Nigeria, the Zenith bank relationship marketing efforts also qualify as a right step in the right direction to retain old customers while gaining new ones. This accounts for why the bank extends its relationship marketing to staff of College of Health Sciences, University of Port Harcourt, Rivers State, even though the College does not use the bank as its official bank. The business developing confidence and trust in the bank.
In conclusion therefore Zenith banks’ regular engagement in relationship marketing efforts which aligns with the socio- cultural realities of Port Harcourt people has meaningfully helped at improving the corporate image of the bank which translates to increased patronage of the bank by its customers.
Recommendations
The researcher recommends that Zenith bank should increase their community social responsibility efforts in Port Harcourt by providing such facilities as soft loan for small and medium scale enterprises at accessible rate since Port Harcourt is the commercial nerve centre in Rivers state. This, coupled with its relationship marketing would endear Port Harcourt especially business men to the bank. In line with its relationship marketing efforts, the bank should intermittently hold /organize lunch with various stakeholders like market women or Christian mothers with a view to further gaining their patronage.
. For the purpose of further studies however, efforts should be focused on the relationship marketing efforts of other banks as basis for a comparative analysis of different banks relationship marketing efforts and their impact on customers’ patronage.
. Moreso, further studies should focus on other areas in Rivers state (not Port Harcourt) so as to measure the influence of differing cultures on the influence of relationship marketing efforts on customers.