Positioning a Bank Service in Nigeria: A Conceptual Framework

The study looks at positioning of bank service in a competitive environment like Nigeria. Positioning wasexamined from the various definitions in the literature and the major components and strategies of positioningwere discussed. The bank service in Nigeria was seen to be best positioned through non-functional andfunctional benefits. The non-functional benefits involve the bank’s corporate identity and brand image, this wereseen 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 tobe well suited for both old and new banks, and a framework for this was also developed.