SIGNIFICANCE OF MARKETING IN SERVICE ORGANIZATION
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SIGNIFICANCE OF MARKETING IN SERVICE ORGANIZATION
ABSTRACT
This research endeavour is intended to describe the importance of marketing; one need not look any farther than the adage “marketing is everything and everything is marketing”.
Simple correlation analysis is the statistical method used by the researcher to guarantee that proper analysis was performed on the hypothesis investigated.
The study also discovered that UBA thought that the customer is the king in a service organisation, hence UBA should use a customer-oriented strategy while dealing with their consumers.
Aside from the fact that most bank employees believe that attributes and professional marketers are required in a service organisation, another area in which the bank should focus is on how consumers rank UBA’s service, which they believe is quite low.
It was advised that UBA’s marketing department seek to improve their performance because the research demonstrated that the main operations of UBA in terms of consumers and service efficiency are dependent on the marketing department’s success.Chapter one
INTRODUCTION
To describe the significance of marketing, go no further than the adage “marketing is everything and everything is marketing”.
Everyone is exposed to marketing every day, even if they don’t realise it.
Billboards line the nation’s highways, and Lagos can be found everywhere from t-shirts to the centre field of the ‘Tositos’ fiesta. When a teenager begs his father to let him use the family car,
he is actually marketing himself to his father for the exchange of keys, which is what marketing is all about: attempting to create an exchange that is satisfactory and beneficial to both parties.
No consumer can avoid marketing efforts, and no firm should operate without a marketing strategy in place to find potential consumers, meet their needs and desires, and keep them coming back for more. This section provides an introduction to the term “marketing” and its various elements. You’ll hear about the “ps” of the marketing mix.
The crucial component of a marketing strategy. Your prospective customers are identified and placed between the cross wires using marketing research and target marketing to get a specific message to a specific client, one must be familiar with direct marketing, and the section should help you learn about the value of tiny.
BACKGROUND FOR THE STUDY
In today’s rapidly changing economic and social climate, any organization’s management must foresee and respond quickly to significant shifts in customer demand, rivals, and public expectations.
Before considering profitability, you should prioritise customer satisfaction. Previously, various experts discovered that organisations that improve their marketing concepts perform better.
In fact, all marketing initiatives should start and conclude with the consumer. Thus, consumer happiness necessitates an organization’s marketing priority.
To provide consumers with comprehensive product benefit and happiness, the organisation must not only practise marketing, but also implement the appropriate strategies and marketing mix elements.
This is absolutely required if the organisation is to survive, grow, and remain competitive. The importance of marketing is regarded as critical in an organisation, and it is supposed to be as broad as life.
Marketing serves a matching role by connecting the organization’s actions to the external environment.
According to Hambagba (1989), “successful cooperation management required the demand of its environment”.
To properly play the position, marketing management must constantly analyse costs and monitor environmental changes in order to detect elements that may pose a danger to the organization’s chances.
The emergence of strong competition, the changing regulatory environment, the impact of technologies, and the use of computers in business all represent actions in Nigeria’s service sectors that must be taken seriously because they are uncontrollable factors waging war against more organisations in Nigeria.
Statement of Research Problem
Most service organisations underestimate the role of marketing in their business activities, resulting in poor patronage or outright business collapse. The research aims to address such a problem.
OBJECTIVE OF THE STUDY
This research work aims to
To understand the significance of marketing in the service industry.
To understand the role of marketing in the banking industry.
To understand the strengths, weaknesses, opportunities, and threats (SWOT).
To understand the significance of marketing in customer happiness via superior service value.
To understand how to create efficient marketing plans in a service organisation.
RESEARCH QUESTION/HYPOTHESIS:
To make research work easier, the following hypotheses have been developed to serve as a guide for the study.
Hypothesis One.
Ho: Poor quality service delivery has an impact on the service organisation.
Hi: Poor quality management has no effect on service or service organisation.
Hypothesis Two
Ho: The employment of marketing strategies in banking operations does not result in increased patronage.
HI: The employment of marketing strategies in banking operations does not result in increased patronage.
Hypothesis Three
Ho: The customer is not the monarch in service organisations.
Ho, the customer is the monarch of the service organisation.
Significance of the Study
Some businesses are unaware that marketing services can improve both their performance and the organization’s growth.
This research will benefit both the state and federal government enterprises. This study will highlight the importance of service marketing in organisations that provide services.
Finally, marketing studies will use this project work as a reference literature to conduct their research.
SCOPE AND DELIMITATION OF THE STUDY
This research attempts to investigate service marketing and its significance. The research will also look into the marketing principles and types used in service operations in the banking industry,
as well as the importance of marketing in service organisations. The service research will also aim to identify the challenges to service marketing and potential solutions to these problems.
Operational Definition of Terms
All terminology employed in this research work are relevant to the goal of this particular research study.
Motivation is focused with inspiring employees to do their best in order to increase their commitment to the organization’s aims.
To accomplish this, management must first understand why people believe the way they do at work (Ezewels, S. E, 2006).
Price can be defined as a value consideration in exchange. Price is crucial in calculating profit from a marketing standpoint because it represents the value placed on a good or service by customers at a certain point in time.
(Masoje, 2001) A manager of a service or organisation must compare their prices to those of their competitors in the marketing space to determine whether they are high or low.
Training is described as the systematic modification of an employee’s behaviour in order to promote the achievement of organisational goals (Masoje, 2001).
Equipment: These are items required for a certain function or the operation of a business. In this new era, businesses should be technologically mobile by adopting new technology equipment rather than employing outdated 1930 typewriter equipment and analogue computers (Masoje, 2001).
Symbol: The use of an image, item, etc. to suggest or refer to something else. The name and symbol used by an organisation might assist the customer in identifying with the company.
Personal Selling: The use of speech and punishment (face to face) to elicit some action on the side of another.
Personal selling can lead to actions such as purchasing an insurance policy or opening a bank account (Asore, 2008).
Place: The actual setting or location of the firm must provide prompt and efficient service because accessibility is a key aspect in service marketing.
People: People are vital to the delivery of most services. Operational personnel include bus drivers, bank clerks, receptionists, and cashiers, among others.
Kotler and Keller (2006) define a product as anything that can be sold in the market to satisfy a want or need.
Promotion is a set of activities used to enhance the sales of a product or service, such as sales promotion, advertising, packaging, and personal selling.
Perishability refers to services that are perishable and cannot be stored. The value of a service exists only when it is being supplied. If they are not consumed while they are accessible, they will perish.
Adequate Skilled Manpower: This is aimed at completing a criterion that involves the ability to accomplish something expertly in order to achieve the organization’s goal (Kotler and Keller, 2001).
Intangibility refers to services that cannot be seen, tasted, or felt before being purchased.
Before purchasing any level of service, consumers seek opinions and attitudes (Ezewel 2006).
Inseparability: Unlike things or products, services cannot be separated from the person or seller.
Communication Materials: The communication materials should convey efficiency. The advertisement should explain the company’s viewpoint through the use of good images, among other things.
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