Marketing Research and Performance of Money Deposit Banks in South East, Nigeria

Abstract

In Nigeria the present bank situation is frustrating as customers sometimes suffer poor service delivery such as delayed cash withdrawal, failed bank transfers and hanging cash deposit alerts. In view of this, this study determined the relationship between marketing research and performance of Money Deposit Banks by ascertaining the extent of relationship between problem identification research and business advantage and the degree to which product review research relates with customer satisfaction of Money Deposit Banks in South East, Nigeria. Descriptive survey research design was adopted and Taro Yamane formula was used to determine a sample of 162 out of a total population of 273 while structured questionnaire was used to collect data from respondents. The hypotheses were tested using Pearson Product Moment Correlation Coefficient with the aid of Statistical Packages for Social Sciences (SPSS Version 29). Findings revealed positive relationship between marketing research and performance of Money Deposit Banks in South East, Nigeria. There is positive relationship between problem identification research and business advantage. Results also revealed positive relationship between product review research and customer satisfaction. The study concluded that the relationship between marketing research and performance of Money Deposit Banks is dependent on the adoption of problem identification research and product review research. Therefore, the study recommended that marketing manager should always adopt proactive measures towards the market. This can be achieved by constant review of market trends and customer’s behaviour.