An Evaluation of Marketing Practices in Banks in Ghana

Abstract

This study ascertains the extent to which the marketing concept has been adopted and implemented by banks in Ghana. It addresses a gap in an area that is currently under researched and provides insight into the banking services industry in a developing country. All sixteen licensed banks in Ghana were included in this study. The data was collected through in-depth interviews and self completed questionnaires. The results suggest that marketing departments in the banks are organised mainly within headquarters and headed by marketing and advertising/public relations managers. The marketing activities in the banks are associated with the stage where marketing orientation is perceived as advertising and public relations. There is a partial lack of marketing culture in the banks. The total and formal acceptance and understanding of the marketing concept is at an embryonic stage in the evolutionary process.

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