The Problems of Marketing the Services of Non-Bank Financial Institutions: A Case Study of the Credit Link Finance Limited, Lagos.

Abstract

The recent deregulation of the Nigerian economy has brought about a recent boom of Non-Bank Fiancial Institutions whose aim we are made to understand is to bring financial succor to corporate organizations and individuals. In order to increasingly keep afloat and remain in business, these institutions have to continually find various ways of marketing their services unlike before when they were accused of arm-chair banking. The increasing problems associated with marketing has to be continually researched into in order for these institution to remain viable. This study has tried to look into these problems and recommend solutions. The case study was carried out in a Finance house situated in the very busy area of Broad Street. The method of study was analytical. It involved test of significance and other statistical tools. Based on the analysis, it is pertinent to note that Non-Bank Financial Institutions operate in a restrictive environment. For them to effectively and dynamically market their products, they need total, unreserved support of the board of directors in all phases of operation. It is also important for them to explore all avenues that can bring them closer to their customers and in so doing, they would have solved one of the biggest problems facing the marketing of their services.