THE IMPACT OF MARKET ORIENTATION PRACTICES ON ORGANISATIONAL PERFORMANCE IN NIGERIAN BANKING INDUSTRY

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(A CASE STUDY OF FIRST BANK, FIRST CITY BANK, STERLING BANK, UBA AND ZENITH BANK)

ABSTRACT

The purpose of the study is to gain a better understanding of the theoretical and empirical relationship between market orientation practices (intelligence generation, intelligence dissemination and responsiveness, customer focus, competitor orientation and inter - functional coordination) and some measures of organizational performances (profitability customer satisfaction, long term objectives, short term objectives) of Nigerian banks.

A Cross Sectional Survey research design was adopted; while data were generated by means of structured question. Aides administered to members of staff of the following selected banks in Lagos metropolis; First bank, FCMB, Sterling bank, DBA and Zenith bank.

The study generated a ninety percent (90%) response rate from two hundred questionnaires that were given out.

Responses from the survey were statistically analyzed using simple frequency percentage, descriptive statistics, factor analysis and Pearson product moment correlation with the aid of SPSS.

Results of the study indicate that the studied banks were market oriented to a very large extent. It is apparent from the findings that banks attached great importance to obtaining relevant market intelligence and responding appropriately in order to gain competitive advantage.

The study also revealed that market orientation practices of the banks have significant correlation with aforementioned performance measures.

Finally, conclusions, recommendations and suggestions for further studies were highlighted to demonstrate the generalization of the results of the study.

TABLE OF CONTENTS

Title page i

Certification ii

Dedication iii

Acknowledgement iv

Abstract v

Table of content vi

CHAPTER TWO (Introduction)

1.1 Background of the study 1

1.2 Statement of the problem 3

1.3 Research questions 4

1.4 Research hypothesis 4

1.5 Objectives of the study 5

1.6 Scope of the study 6

1.7 Significance of the study 6

1.8 Operational definition of terms 7

References 9

CHAPTER TWO (Literature Review)

2.0 Introduction 10

2.1 Historical perspective of marketing 10

2.2 What is Market Orientation 11

2.3 The determinants of market orientation 16

2.4 Market orientation versus marketing orientation 19

2.5 Services marketing and marketing orientation 19

2.6 Alternative model in Services context 23

2.7 Different views on market orientation 26

2.8 The Nigerian banking industry 29

2.9 Brief history of case study 31

2.10 Conclusions based on literature review 34

References 36

CHAPTER THREE (Research Methods)

3.0 Introduction 38

3.1 Research design 38

3.2 Re-statement of research questions 39

3.3 Re-statement of research hypothesis 39

3.4 Population of the study 40

3.5 Sample size and sampling technique 40

3.6 Data collection methods 41

3.7 Data analysis methods 43

3.8 Limitation of the study 43

References 44

CHAPTER FOUR (Data Analysis and Interpretation)

4.0 Introduction 45

4.1 Analysis of questionnaires 45

4.2 Analysis of demographic variables 45

4.3 Analysis of responses to research questions 49

4.4 Factor of Analysis 51

4.5 Test of hypothesis

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