Download EKPEZU, NANCY MBA

AN EMPIRICAL STUDY OF THE MARKETING STRATEGIES OF OCEANIC
INTERNATIONAL BANK PLC, CALABAR, NIGERIA
NAME
EKPEZU, NANCY MBA
REG NO
MSS/MBA/05/031
YEAR OF
PUBLICATION
JUNE, 2008
ABSTRACT
This research has attempted to find out the role of the marketing strategies used by Oceanic Bank
International PLC in achieving its ultimate aim of profitability. Sixty respondents were administered a
validated questionnaire, and fifty-six respondents representing 93.33% of the various categories of the
bank staff responded. Using a non-parametric statistical analysis, namely the chi-square statistic, it
was discovered that the marketing strategies used by Oceanic Bank (which include its market
segmentation strategy, faster and better delivery strategy, face-to-face marketing) have an impact to a
good extent on its profitability. Specifically, it was found that competition impacts on profitability;
technological advancements influence the nature of marketing strategies; and customers' awareness
and search for fairer treatment and services affects the bank's marketing strategies.
Recommendations were made from the findings of the research which may be useful to Oceanic
Bank Plc, other banks and other organizations in general. Recommendations made included that
banks should put into consideration competitive trends in the design of their marketing strategies.
Also, advancements in technology should form part in formulating marketing strategies of banks.
Added to that, banks' growth should be taken into consideration in the design of marketing strategies.
Customers' awareness and education should be carried out continuously to ensure that customers'
needs are considered in the design and implementation of marketing strategies.