AN APPRAISAL OF BANK MARKETING STRATEGIES IN THE NEW GENERATION BANKS (A STUDY OF SELECTED NEW GENERATION BANKS IN LAGOS STATE

📄 Project Abstract

The banking industry has witnessed series of changes more than any other sector of the economy. The industry, in the last ten to twelve years, had undergone what may be described as rough weather through policy inconsistencies, policy shifts and policy reversals, thereby making the familiar terrain to become hostile. The industry is increasingly becoming more dynamic which requires the operators being proactive to enable them cope effectively and efficiently. In the present day banking industry, competition is fiercer ever than before despite the drastic reduction in the number of active participants. Most of the Money Market Instruments now in vogue in the industry are targeted at high net worth individuals irrespective of whether references are taken on them or not. Empirical evidence has shown that new generation banks in Nigeria render services to both illiterate and literate customers. The strategy for the new generation banks is to target the educated and sophisticated cust...