Effect of Sustainable Marketing on Competitive Advantage of Deposit Money Banks in Ogun State, Nigeria

Globally, banking sub-sector is an important driver of economic activities in any economy, which have long suffered high degree of neglect on issues relating to sustainable marketing; given that most past studies have focused mainly on the manufacturing sector. However, with challenges ranging from over-regulations through intense competition, technological development, inconsistent customer behaviour to unstable economy, the banking industry have continued to suffer setbacks through unstable performance in loans portfolio, profitability, returns on equity, returns on assets which have negatively affected general banking business performance. This study examined the effect of sustainable marketing elements competitive advantage of selected deposit money banks in Ogun state, Nigeria. The study adopted survey research design. The target population of this study comprised 1542 employees of five selected deposit money banks in Ogun state, Nigeria. Sample size was 565 determined using Cochran’s formula. Stratified random sampling method was adopted in selecting the sample. The study used primary data. Primary data was collected using a validated structured questionnaire. The Cronbach’s alpha reliability coefficient ranging from 0.700 to 0.990 was used for data collection. The response rate in this study was 94%. Quantitative data was analyzed using descriptive and inferential statistics. Results from data analysis were presented in Tables. The findings of the study established that sustainable marketing had significant effect on competitive advantage of the selected deposit money banks in Ogun state, Nigeria. (Adj.R² = 0.243, F (3, 505) = 55.465, p<0.05). It was recommended that societal marketing and social marketing should be given more attention in the Nigeria banking industryto enhance competitive advantage