ABSTRACT
This work focuses on the comparative study of the pricing of
Commercial Bank products in the Enugu Urban Area. Two populations
were used for the study. The first comprises all the eleven Commercial
Banks operating in the city. Six branches of these banks were selected
and studied. The second population is made up of all the passbook or
cheque-book carrying customers of the selected banks. A total of 95,224
customers make up this population out of which 402 were sampled. From
the analyses of the data that is using the following statistical tools-
ANOVA with F-Ratios: Differences between the means of two well distributed
population; and Two-factor, analysis, the following important
findings were made from the study.
- There is no significant difference in the prices of bank products
among Commercial Bank operating in Enugu
- There is also no significant difference between the degree of
customers’ awareness of price variation among the banks before,
during and after every bank transaction.
- The majority of bank products studied showed that “money price”
alone does not have significant influence on consumer’s product
and bank switch behaviours.
- Consumers are however often attracted by other attributes of price
such as bank’s accessibility, courtesy, promptness of services,
friendliness of staff, etc, in making their pricing decisions.
In view of the above findings, the recommends that:
- Since bank consumers’ buying decision processes are not often
influenced by only monetary price, it is necessary that banks’
