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Positioning a Bank Service in Nigeria: A Conceptual Framework By Prof Olalekan Asikhia

The study looks at positioning of bank service in a competitive environment like Nigeria. Positioning was examined from the various definitions in the literature and the major components and strategies of positioning were discussed. The bank service in Nigeria was seen to be best positioned through non-functional and functional benefits. The non-functional benefits involve the bank’s corporate identity and brand image, this were seen to be well suited for old banks with high public acceptance, and positioning through functional benefits, which involve developing new attributes for the product or altering the old attributes of the product was found to be well suited for both old and new banks, and a framework for this was also developed.

Olalekan Asikhia

Olalekan Asikhia is the DVC, Research, Innovation and Strategy at Caleb University, Lagos State. He was the past Director of Center for Financial Studies of Chartered Institute of Bankers, and Research Professor at School of Business Leadership, University of South Africa, and won a grant of Poverty/SMEs studies worth R700,000 oer year for 2 years, making a total of R1.4 million. He was also a past Head of the department and acting dean. He had supervised and graduated over ninety-two (92) doctoral candidates and twenty-four (24) master degree candidates. He has over one hundred and thirty-three (133) publications. Olalekan Asikhia is a Fellow of the Nigerian Institute of Marketing. He is a member of the economics and statistics committee of Lagos Chambers of Commerce and Industry. He is married to Busayo Asikhia and blessed with two children.

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