BANKING USE OF PERSONAL SELLING AS A PROMOTIONAL STRATEGY

CHAPTER ONE
1.1 INTRODUCTION
Before banks were established in Nigeria, Nigerians had ways of keeping their valuables like gold and money at hone, under pillow or buried in the ground.

Infact, through these ways money could be lost, supposing the owner died without informing his children or any relative, the money may be lost forever.
In the year 1892, when the first bank was established, people were reluctant to put their money in the bank, even up to this age, there was only little improvement in people operating bank accounts.
In a statement made by the central bank governor Dr. Victor Odozi, published in new Nigeria newspaper of 17th January, 1983, he said the Nigerians do not keep their money in banks”. In the statement he also added that ‘A total of N3,777 Million or 89% if currency issued was being kept at home by people or in the private safes or individual Nigerians as at July in 1981.
This could also be seen when Buhari/Idiagbon regime overtime the Shagari administration.

A lot of money was recovered in the houses of money top politicians in Nigeria.
In one of the reasons that could by adduced for it is that might be due to the fact that people have lost faith in the banking services, either for the delay the encounter in the bank whenever the want to save or collect money from the bank.

It must also be that they have the secret of their wealth since many Nigerians are illiterate of western education.
In fact, commercial bank might have enjoyed the past years when they are newly, established since there were no keen competition but they operated on service oriented goal rather than consumer oriented goal.

This attitude needs to be changed to increase patronage and profitability.
1.2 STATEMENTS OF PROBLEMS OF THE STUDY
The problems of personal selling cannot be overloaded despite the usefulness of personal selling in both industrial and customer market.

These difficulties arise from a number of problems that faced sales person.
SIZE AND LOCATION OF MARKET: Large and wide spread markets such as retail outlets for moving the customers goods, can only be covered at a great cost by massive sales forces. Some manufactures branded, packaged foodstuffs employ such sales force.

These sell to retail and wholesale customers who vary in size from giant national multiples down to independent customer shops, such sales force are very expensive to maintain and many have been seen reductions during recent years.
TIME LAGS – Where there is lags between arousing customer interest and the receipts of order, the use of such ratios as sales order to sales call may be meaningless. Business may take a long time to develop, especially in management can do is to monitor
i. Size of customer order and;
ii. The ratio of sales proposal to sales achieved.
GEOGRAPHICAL SPREAD – More than half a million of customer are spread all over the nation which sales people have to cover.

This will increase the cost of distribution which will equally affect the turnover of the company.

1.3 STATEMENT OF RESEARCH QUESTION
In the course of research answer will be provided to the following research question.
What is personal selling?
Does personal selling creates more awareness than any other promotional mix in the banking industry?
Does the promotional mix used by the banking industry make their services known to customers?
Are the attitudes of staffs in the banking industry good, comforting and encouraging to the customers.
1.4 THE AIMS AND OBJECTIVES OF THE PROJECT
1. To find a way of restoring confidence in the mind of people through direct discussion, regular visit to big accounts.
2. To solve problem of concentration and attention during presentation of message.
3. To make personal selling known to customers as a good promotional mix in banking industries.
4. To helps banks adopt the marketing concept to the services rendered in banking industries.
5. Providing information
6. Stimulating demand
7. Reinforcing the brand
1.5 STATEMENT OF RESEARCH HYPOTHESIS
A research hypothesis is a specific statement of expected outcomes of an experiment. The following hypothesis tested in the research work.
H0: Personal selling does not create more awareness than any other promotional mix in banking industry.
H1: Personal selling creates more awareness than other promotional mix in banking industry.
H0: The attitude of staffs in the banking industry are discomforting and not encouraging to customers.
H1: The attitudes of staffs in the banking industry are good and encouraging to customers.
1.6 SIGNIFICANCE OF THE STUDY
In view of this, the research critically examines the significance of personal selling in Nigeria banking industry to customer and to the society at large.
It is over hope that all the end of this study its significance would have manifested itself to sales management of the banking industry.

Banking which naturally should be interested in any suggestions towards an improved efficiency and standard of living of the people through savings and income, which lead to investment.

Underestimate the difficulties they will have to get overseas finance to remove the banking problem of the indigenous merchants.
Despite the appeal by the merchant and business, the problem persisted before, during and after the first world war (1914 – 1918) and any hope is establishing an indigenous bank ended in failure.