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Ethical Dimension of Bank Services Marketing in Nigeria: An Empirical Investigation

Received: 21 July 2016     Accepted: 20 October 2016     Published: 21 November 2016
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Abstract

This study examines the causes of unethical behavior in the marketing of banking services in Nigeria. The study adopts a survey design and uses structured questionnaire to elicit information from respondents. It focuses on banks in the south-south and south-eastern regions of Nigeria. From each of the regions two state capitals were judgmentally selected. Ten out of the 24 banks currently operating in the country with branches within these regions were included in the study. Using Raosoft sample size calculator, a sample of 173 was drawn from the total staff strength of 313 of these banks’ 35 branches within the region. Inferential and descriptive statistics were applied in data analysis and results led to the conclusion that personal, organizational and societal factors play prominent roles in fostering unethical behavior in bank services marketing. The study therefore recommends a downward review of marketing targets for bank staff by the various bank boards of directors.

Published in European Business & Management (Volume 2, Issue 1)
DOI 10.11648/j.ebm.20160201.11
Page(s) 1-7
Creative Commons

This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.

Copyright

Copyright © The Author(s), 2016. Published by Science Publishing Group

Keywords

Unethical, Commercial Bank, Regulatory Authorities, Ethical Marketing, Customer centric

References
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[2] Aikaterini, V, Siomkos, G. and Rouvaki, C. (2008). “The Ethical and Unethical Dimensions of Marketing”. Management Review, Vol. 3 No. 2.
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[9] Acha, I. A. (2007). Self-Regulation: A Sine Qua Non for Good Corporate Governance in Banks. Journal of National Association of Science, Humanities and Education Research, 5(1), 210-217.
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[12] Ayozie, D. O. (2013). “The Current Ethical Challenges in Nigerian Commercial Banking Sector”. Global Journal of Management and Business Research, Vol. 13 Issue 10.
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[15] CIBN (2014). Code of Conduct in the Nigerian Banking Industry. Lagos: CIBN House.
[16] Ikpefan, O. A. and Ayeni, O. (2015) “The Impact of Ethics and Professionalism in the Nigerian Banking Industry” accessed online 20/04/2016.
[17] Berkowitz E. N, Kerin R. A, Hartley, S. W and Rudelius W. S. (2001). Marketing, 6th ed, Boston: Irwin McGraw Hill.
[18] Boundless (2016) “A Brief Definition of Business Ethics” www.boundless.com.
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[20] Ferrell, O. C. (2005). “A Framework for Understanding Organizational Ethics,” In Business Ethics: New Challenges for Business Schools and Corporate Leaders, R. A. Perterson and O. C. Ferrell, (eds.): Armonk, New York: M. E. Sharpe, pp 3-17.
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  • APA Style

    Acha Ikechukwu A., Agu Godswill A. (2016). Ethical Dimension of Bank Services Marketing in Nigeria: An Empirical Investigation. European Business & Management, 2(1), 1-7. https://doi.org/10.11648/j.ebm.20160201.11

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    ACS Style

    Acha Ikechukwu A.; Agu Godswill A. Ethical Dimension of Bank Services Marketing in Nigeria: An Empirical Investigation. Eur. Bus. Manag. 2016, 2(1), 1-7. doi: 10.11648/j.ebm.20160201.11

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    AMA Style

    Acha Ikechukwu A., Agu Godswill A. Ethical Dimension of Bank Services Marketing in Nigeria: An Empirical Investigation. Eur Bus Manag. 2016;2(1):1-7. doi: 10.11648/j.ebm.20160201.11

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  • @article{10.11648/j.ebm.20160201.11,
      author = {Acha Ikechukwu A. and Agu Godswill A.},
      title = {Ethical Dimension of Bank Services Marketing in Nigeria: An Empirical Investigation},
      journal = {European Business & Management},
      volume = {2},
      number = {1},
      pages = {1-7},
      doi = {10.11648/j.ebm.20160201.11},
      url = {https://doi.org/10.11648/j.ebm.20160201.11},
      eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ebm.20160201.11},
      abstract = {This study examines the causes of unethical behavior in the marketing of banking services in Nigeria. The study adopts a survey design and uses structured questionnaire to elicit information from respondents. It focuses on banks in the south-south and south-eastern regions of Nigeria. From each of the regions two state capitals were judgmentally selected. Ten out of the 24 banks currently operating in the country with branches within these regions were included in the study. Using Raosoft sample size calculator, a sample of 173 was drawn from the total staff strength of 313 of these banks’ 35 branches within the region. Inferential and descriptive statistics were applied in data analysis and results led to the conclusion that personal, organizational and societal factors play prominent roles in fostering unethical behavior in bank services marketing. The study therefore recommends a downward review of marketing targets for bank staff by the various bank boards of directors.},
     year = {2016}
    }
    

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  • TY  - JOUR
    T1  - Ethical Dimension of Bank Services Marketing in Nigeria: An Empirical Investigation
    AU  - Acha Ikechukwu A.
    AU  - Agu Godswill A.
    Y1  - 2016/11/21
    PY  - 2016
    N1  - https://doi.org/10.11648/j.ebm.20160201.11
    DO  - 10.11648/j.ebm.20160201.11
    T2  - European Business & Management
    JF  - European Business & Management
    JO  - European Business & Management
    SP  - 1
    EP  - 7
    PB  - Science Publishing Group
    SN  - 2575-5811
    UR  - https://doi.org/10.11648/j.ebm.20160201.11
    AB  - This study examines the causes of unethical behavior in the marketing of banking services in Nigeria. The study adopts a survey design and uses structured questionnaire to elicit information from respondents. It focuses on banks in the south-south and south-eastern regions of Nigeria. From each of the regions two state capitals were judgmentally selected. Ten out of the 24 banks currently operating in the country with branches within these regions were included in the study. Using Raosoft sample size calculator, a sample of 173 was drawn from the total staff strength of 313 of these banks’ 35 branches within the region. Inferential and descriptive statistics were applied in data analysis and results led to the conclusion that personal, organizational and societal factors play prominent roles in fostering unethical behavior in bank services marketing. The study therefore recommends a downward review of marketing targets for bank staff by the various bank boards of directors.
    VL  - 2
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    ER  - 

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Author Information
  • Department of Banking/Finance, University of Uyo, Uyo, Nigeria

  • Department of Marketing, Abia State University, Uturu, Nigeria

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