Title: Innovative Marketing Strategy a nd Performance Of Banks In South-South Nigeria
Authors: PANAMA, P and MORUKU, R.K
Volume: 8
Issue: 10
Pages: 70-82
Publication Date: 2024/10/28
Abstract:
This research work was designed to empirically examine innovative marketing strategy and performance of banks in South-South Nigeria. Cross sectional survey research design was employed in the study. Primary data for the study were collected through a self-administered questionnaire issued to the respondents using simple sampling technique. The data was collected from a sample of one hundred and eighteen employees of the selected banks in South-South, Nigeria. The findings revealed that the dimensions of innovative marketing strategy adopted in this study have positive and significant effect on performance of commercial banks in South-South Nigeria. The study concluded that innovative marketing strategy has a significant positive effect on performance of commercial banks in South-South Nigeria. The study recommended that, to fully benefit from innovations, commercial banks need to improve the internal environment of the banks including bank resources, and other competences. From the research findings most of the banks were innovating at the lowest level of novelty implementing mostly incremental innovation. The study contributed that despite the widely-held view that innovation lends to competitiveness in commercial banks, empirical studies and analysis to support this concept especially in Nigeria is limited and not conclusive. This study therefore contributes to the body of knowledge on innovation marketing strategies and performance of commercial banks by providing empirical evidence of the effect of specific innovation on performance of banks; whereas previous studies have considered the effect/ impact of innovative marketing strategy on performance of banks.