Personal Selling As An Effective Promotional Tool In The Nigeria Banking Industry (A Case Study Of United Bank Of Africa Plc)

To find a way of restoring confidence in the mind of people through direct discussion, regular visit to big accounts.

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Title page                                                                 i

Certification                                                             ii

Dedication                                                               iii

Acknowledgement                                                    iv

Table of Content                                                      v


1.1   Introduction

1.2   Statement of problem

1.3   Statement of research question

1.4   Objectives of the study

1.5   Statement of the study

1.6   Significance of the study

1.7   Scopes and limitation of the study

1.8   Definition of key terms

1.9   Plan and organization of the study


Literature Review


3.1   Research Methodology

3.2   Research Design

3.3   Data collection method and techniques

3.4   Data presentation and analysis techniques (Tools of Analysis)

3.5   Definition of population

3.6   Sampling procedures


4.1   Data presentation and analysis

4.2   Analysis of problem

4.3   Testing of hypothesis

4.4   Summary of findings


5.0   Summary, Conclusion and Recommendation

5.1   Summary of report

5.2   Conclusion

5.3   Recommendation




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 Odozie, 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.


        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

  1. Size of customer order and;
  2. 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.


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. 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


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.


        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.


        In 1928, the first indigenous bank was established in Lagos, out within a short time it collapsed. Another one come up in 1931 ended in failure as well.

The same grow of power in 1933 summoned up courage and charge to Wema bank to fifth bank was the Nigeria penny bank which established in 1940 and collapsed in 1946 because of mismanagement followed by the Nigeria farmers and commerce bank in 1949 which collapsed in 1953. The merchant bank opened for operation in 1952 and closed down 1960 it was recorded that between 1947 and 1952 to a total of 22 banks were registered in Nigeria.

In 1952, government set up legislation to project the depositor. Inspite of all these, banks were still indulging in some kinds of malpractice which made the government established the central bank of Nigeria in 1959 to look into the affairs of commercial banks and take necessary control.

In 1958, a new bank ordinance was formed by the central bank through the government. Acts and conditions to establishing new banks with over 920 up – to – date, Nigeria new has twenty commercial banks with over 180 branches all over the country excluding people banks and community banks that introduced by Babangida administration between 1990 and 1993 throughout the federation to have in read into pulse of its sale force for necessary re-appraisal adjustment of reviewer and so on.

The initial pant and role of personal selling to Nigeria banking cannot be over emphasized with its flexibility of operation sales people can adopt their presentation to pit the needs the mode of individual customer, personal selling do normally succeed where advertisement role, the assumption is that the response of the individual buyers will be positive to the message or stimulus.

Finally, for all students and future researcher of this work will prone to an individual asset one can safety point that success level of an industrial marketer depends on how effective his personal selling efforts are. The prominent position occupied by person selling can easily be understood such as advertisement; sales promotion and publicity create awareness and knowledge for a product. The major work for personal selling is to convince the potential customers through person interaction to develop interest for the product in preference in other competing ones and to see to it that the customers parts with money for banking service. Also in more cases, it is personal selling that result to actual sales, other promotional tool can arouse and attract desire but they do not usually arouse buying action or compute the sales by transferring title, so there is no way personal selling can be ignored in any progressive economy.


        The scope of this research work shall be limited to general administration and geographical area of United Bank for Africa, it concept rationale personal selling which may include the eventual unacceptability of their service.

Therefore, the Longrun survival of the bank makes the choice of services innovation meritable.

THEORETICAL SCOPE – The area of coverage of thus research work is centered on the personal selling as an effective promotional tool in Nigeria banking industry. The impact of this marketing strategy will be analyzed.

GEOGRAPHICAL SCOPE – The company’s name used as the case study by the researcher is United Bank for Africa. It deals with ways of keeping their things like money, Gold and other valuables like documents in the bank and it is located at Murital Muhammed Road, Ilorin a precisely, it is situated at No. 123 muritala muhammed way, Ilorin.


        This type of scope is different from one company to another. Below is the United Bank for Africa (UBA) organizational chart which indicates functional lines of authorities which are responsible for process of selling and more so as to means by which their organization aims are functional and achieved.

Director Awanari Duke
CO – COOE _ _ _ _ N _ _
Chairman of the Board Angela Aneta
CEOUgocukwu Nwagbodoh
BoardCEOOduoza Phillips




DirectorJa’afaru Paki
Corporate Banking
DirectorFolukoe Abdul-Raqak
DirectorKolawole Jamodu
Executive Director
Executive Director
DirectorRose Okechima
Executive Director
DirectorDan Okeke
DirectorDan Okeke
Deputy Managing Director
CO – EOOEo _ _ _  O _ _ _














Adekunle Olumide


Yahaya Zeke

TIME SCOPE – The current facts about United Bank for Africa is of recent year which is 2010.


        The biggest limitation about the study is the degree to which this promotional method is misunderstood. Most people have had some bad experience with sales people, who the perceived were overly aggressive or even downright annoying.

The second disadvantage of personal selling is the high cost of maintain this type of promotional effort. Cost incurred in personal selling include.

  1. High cost per action
  2. Training cost

A third disadvantage is that personal selling is not for everyone. Job turnover in sales is often much higher than other marketing positions.


Finance – A management of large amount of money especially by the government or large companies.

Money – Money is anything that is generally acceptable as a means of exchange and settlement of debt.

Bank – A financial establishment that needs money deposited by customers, pays it out when required, makes corn at interest and exchange.

Personal selling – A sale in the pinned activity involved in the selling product or services in return for money or other companies.


The research work is divided into five chapters for clarity purpose.

Chapter one consist of introduction, objective of the study, statement of problem, scope of study, limitation of the study, definition of key terms and plan of the study.

Chapter two discusses the literature review of the study.

Chapter three highlights research methodology, population and sample, sample design and size and data collection method.

Chapter four discusses data presentation and analysis and brief history of the case study.

Chapter five which is the last chapter talks about summary, findings, conclusion and recommendation.


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