The Impact of Product Development on Banks Performance .
ABSTRACT
The need for this study being the impact of product development on bank performance was to determine the rate at which the performance of this product is helping the economic development and in the terms of employment, income, staff utilization and technology and serve as an advisory piece to Owners of banks as to how these product can be run to the benefit of the customers who patronize such product.
This research work is divided into five chapters. One deals with the introduction/background of the study, , objectives of the study, research questions, scope of the study, significance of study, limitation of the study and delimitation of terms.
Chapter four deals with presentation and interpretation of data. Chapter five deals with, summary of finding, conclusion and recommendation.
For the purpose of the study, questionnaires were administered to both . Finally, suggestion were made to the bank on how the should establish a good for proper co-ordination and marketing of such products.
TABLE OF CONTENTS
Title page i
Approval page ii
Dedication iii
Acknowledgement iv
Abstract v
Table of contents vi
CHAPTER ONE
1.0 Introduction 1
1.1 Background of the study 1
1.2 Statements of problems 4
1.3 Objectives of the study 6
1.4 Research questions 7
1.5 Significance of the study 9
1.6 Scope of the study 10
1.7 Limitation of the study 10
1.8 Definition of terms 11
CHAPTER TWO
2.0 LITERATURE REVIEW 16
2.1 Historically background of banks
operations in Nigeria 16
2.2 New product as a business strategy 22
2.3 The nature and structure of
banks new product 26
2.4 Stage in production process 29
2.5 factors that enhance the effectiveness
and efficiency of a new product 33
2.6 Problems indicators of bank product 35
CHAPTER THREE
3.0 Research methodology 37
3.1 Introduction 37
3.2 Research design 37
3.3 Population and sampling techniques 38
3.4 Sources of data 38
3.5 Method of data collection instrument 41
3.6 Techniques for data analysis 42
CHAPTER FOUR
4.0 Data presentation and analysis 43
4.1 Introduction 43
4.2 Presentation of data 43
CHAPTER FIVE
5.0 Summary, conclusion and recommendation 51
5.1 Summary of findings 51
5.2 Conclusion 53
5.3 Recommendations 55
Bibliography
Appendix
INTRODUCTION
1.1 Background of the Study
Over the years, it has been identify that banks form a significant part of the financial institutions of modern society, because of this structure, and influence on an economy.
Banks through their basic roles of researcher mobilization and allocation fro efficient investment play a great role in economic developed of any nation.
According to Nnolin (2001) the stock in trade of banks in Nigerian in the provision of financial services like over draft facilities, discounting bills of exchange, purchasing and selling securities etc to their customers.
There was time when banks did not see the need for providing and encourage patronage. Maybe, there was no need for such activities some year’s age, due to the fact that bankers were few and competition was very low.
Today, the between banks is increasing as in the level of financial competition and sophistication of other banking needs by customers. Olupitan (2002) pointed out the banking in Nigerian is taste becoming not only very competitive but also sophisticated.
The banking industry has zone beyond mere acceptance of deposits, and giving out loans to its customers. Banks has now indicted various new products into the industry.
The stimulate is traced to the unprecedented rise in the number of banks between 1992 to 2001 which resulted into creating a very competitive banking atmosphere among banks; Olupitan (2002) also note that in the early days of banking in Nigeria.
The use of banks services was limited to government, business houses and for ailment in the society. Now, in a bid to line customers to them many banks introduced new product into banking industry.
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