The Rate of Adoption of Formalised Strategic Marketing Planning (FSMP) by the Libyan Commercial Banks (LCBs): An Exploratory Study

Abusafrita, Fthia Ramdan M (2011) The Rate of Adoption of Formalised Strategic Marketing Planning (FSMP) by the Libyan Commercial Banks (LCBs): An Exploratory Study. PhD thesis, University of Gloucestershire.

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Abstract

The purpose of this thesis is to understand and explore the foundations of FSMP process in the banking industry. The primary research objectives are: to identify the managerial and performance related benefits of an FSMP approach; to understand the process of FSMP practice in the LCBs; to analyse the impact of contextual factors (internal and external factors) on the current state of development of an FSMP approach in the LCBs; and to conclude as to the potential benefits of an enhanced rate of FSMP adoption and recommend how it would best be achieved. It is important here to confirm that the research was carried out prior to the events in Libya in February 2011. Since the ideas for this research were based on the reality within the largest commercial banks situated in Libya, an interpretive approach was considered the appropriate option to address the research questions posed. Therefore, this study opted for a realistic approach because of its exploratory power and its adequacy to reveal the underlying causes of FSMP within this industry. To address the research objectives the survey strategy has chosen to answer the research questions. The combination of qualitative, quantitative techniques and archival data suggested by the interpretive philosophy and deductive approach is used for the reasons given above. The descriptive statistic analysis is used to analyse the structured questionnaires, and the pattern matching and coding analysis is utilised in order to analyse the semi-structured interviews. The major findings revealed that comprehensive strategic plans are in place, but that the processes by which they are created have significant limitations. In addition, FSMP in the LCBs is still evolving and that it is, currently, in growth. In terms of marketing lifecycle, marketing in LCBs is in its infancy stage, it was found, contrary to expectations that marketing departments have only been established recently. For this reason a number of barriers to FSMP were found. Based on these results, LCBs need to be aware of the strengths that they have and consider how to take advantage of them to capture the current opportunities in the Libyan market, without allowing their weaknesses and limitations to threaten their future and impede the banks' full potential. The main contributions of the current research are: understanding of the process of FSMP that is being introduced into LCBs; determining the contextual factors that affect the implementation of FSMP; identifying the major barriers to the success of the implementation of FSMP and providing a practical framework for FSMP in the LCBs in order to enhance its success.

Item Type: Thesis (PhD)
Uncontrolled Keywords: Banks and banking, Libya; Strategic marketing
Subjects: H Social Sciences > HF Commerce > HF5001 Business > HF5410 Marketing
H Social Sciences > HG Finance > HG1501 Banking
Divisions: Schools and Research Institutes > Business School > Accounting and Finance
Depositing User: Phil Davis
Date Deposited: 21 Mar 2016 11:53
Last Modified: 20 Dec 2016 14:01
URI: http://eprints.glos.ac.uk/id/eprint/3255

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