KOGI STATE
Faculty of Management Sciences
Journal of MANAGEMENT
ISSN: 3212 - 3122
NEW PRODUCTS DEVELOPMENT AND PERFORMANCE OF DEPOSIT MONEY BANKS IN
NIGERIA
Olunuga, O. A.
Abstract
The study examined the influence of new products development on profitability of deposit money banks in Nigeria. It also assessed the influence of new products development on customers’ satisfaction and patronage. The study reviewed banks new products in existence and how they could be judiciously channelled in order to enhance earnings capacity of banks in Nigeria. The study was undertaken using a total of one hundred and fifty (n=150) bank managers and customers of the five selected banks out of which one hundred and ninety (190) were properly filled, returned and accordingly analysed using regression analysis. The result of the study showed that there was a significant influence of new products development on bank profitability and customers’ satisfaction with increased patronage and deposit base. The study concluded that profit should not only be seen as an overriding motive in formulating new products development strategy but based upon customers’ satisfaction with potential long run profitability and overall financial performance.
Keywords
New Products Development, Performance, Customer Satisfaction, Patronage Profitability
Full Article
UNIVERSITY, ANYIGBA
