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The Influence of Strategic Marketing Practices on Deposit Money Banks Profitability in Nigeria

Authors: ONU Christopher

Publication Type: Journal article

Journal: International Journal Of Managerial Studies And Research (ijmsr

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Abstract

Strategic marketing is inevitably a survival strategy among organizations (like the Nigerian banking sector) to promote profitability in nation’s dynamic business environment. However, without engaging effective strategic marketing in the banking sector, there may be little progress in the Nigerian economy as well as in its banking operations. The purpose of this study was to establish the influence strategic marketing on the profitability of deposit money banks in Nigeria. The research adopted in this study was descriptive survey design. The population of the study was 100 staff of selected banks in Nigeria. Primary data were collected using structured and validated questionnaire. The reliability of the instrument was determined by Cronbach alpha test which were 0.957 and 0.967. The study used descriptive and inferential statistics to analyze the data collected. The particular inferential statistics was regression analysis. Data were analyzed by Statistical Package for Social Sciences version 19.0. The result obtained from the analysis showed that there was a statistically significant influence of strategic marketing practices on the profitability in chosen Nigerian banks. The researchers recommended that deposit money banks in Nigeria need to be consistently and strategically fashioned to start positive change to take advantage of the information and communication technology (ICT) to optimize opportunities in the industry to achieve and sustain competitive advantage both within and outside the shores of Nigeria. The researchers conclude that to promote profitability and survival of the industry, the banking sector should embrace strategic marketing by being focused to adapt to changes, marketing of assets and capabilities, and marketing of innovation

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ONU,C. . (2018). The Influence of Strategic Marketing Practices on Deposit Money Banks Profitability in Nigeria, 6 (), 1-1.

ONU,C. . "The Influence of Strategic Marketing Practices on Deposit Money Banks Profitability in Nigeria" 6, no (), (2018): 1-1.

ONU,C. and . (2018). The Influence of Strategic Marketing Practices on Deposit Money Banks Profitability in Nigeria, 6 (), pp1-1.

ONUC, . The Influence of Strategic Marketing Practices on Deposit Money Banks Profitability in Nigeria. 2018, 6 ():1-1.

ONU,Christopher , . "The Influence of Strategic Marketing Practices on Deposit Money Banks Profitability in Nigeria", 6 . (2018) : 1-1.

O.Christopher , "The Influence of Strategic Marketing Practices on Deposit Money Banks Profitability in Nigeria" vol.6, no., pp. 1-1, 2018.

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