Product management embraces the task of adjusting the product throughout its life to match the ever-changing demands of the market place.  Too many organizations make the mistake of thinking that consumers fed and act as they do ad share their wants. The job of managing a product, then is one of constantly monitoring the market and adjusting the products to meet the markets needs and wants.  The better the product matches the needs of  its market, the more successful it is likely to be.

Today, as product and service become more, and more commoditized many organization are moving to new level in creating value for their customer.  To differentiate their offers, they are developing and delivering total customer, experience, whereas  product are tangible and service are intangible, experience are memorable, whereas product and service are memorable when as product and service are external, experience  are personal and take place in the minds of individual consumer. Organization that – market experience realize that customer are really buying much more than just product and service.

For a product to successful gain acceptance in the market environment a well organized product development and management must be there product management is the process of tilling the proposed product to the requirement and opportunities of the market (Rewold etal 2017) product management, involves the process of anticipating the needs of the market place  initiating action towards the identification and production of product and service which will best satisfy the needs and wand of the  trapped market environment. Product management is internal factor in an organization.  A product once, it is commercialized face the problem of management.  The firm is not alone in the industry and its competitor will want to enter the market, if the product proves successful.  It therefore, follows that the firm must manage it product right from the introduction state till the maturate or even declining stage (Buzzell 2017).

Product management is however, characterized by  danger and uncertainties.  The danger may be in  washing financial and human resource  with achieve success protection and market acceptance the uncertainties arise as to whether the product will service, face much competition or die on the introduct Anyanwu (2013). Managing the product variable embraces planning and  or service to be marketed by the company.  The product mix element constitute the most important it is thus produce that every producer tries to conceptualize in the form most desired by the consumer in order to satisfy his needs for proper management of product, the organization must consider all the internal factors of the organization (Dick Barry 2011).  This is because this factors will determine the success of the product in the marketing environment. In product management process, the product life cycle provide useful information on how to apply the principles of marketing and management in organizing and in carrying out that activities that will successfully market the product.  If a firms fact to manage its product, it plan, to fail in launching its, product.  There are reasons why product fails in the marketing environment.

They are as follows

1. Lack  of distinctive advantage in product performance and price

2. Over estimation of the target market which may result in low demand 

3. Inability to utilize company strength to capture profitable opportunities 

4. Unpredictable change in consumer preference for goods and service

5. Product which facilitate competitive entry into the market by competitor,.

6. Lack of support from the marketing intermediaries.

In order to avoid the above mentioned area, the firm must consider and evaluate the product satisfaction and acceptance in such a way that favours the consumer and the organization in general. (Anyanwu 2013) in managing a product especially in marketing Bank service, the function varies from organization objective to the other.  But the basic functions in managing a product are  the same with the principle function of management as it is stated in the management  field.  But the different is that product management are guided toward developing are organizing a successful product  that will gain acceptance in the marketing  environment the following are the basic function of product management.

Planning is the first product management function on which the other take bearing. It refer to as forecasting the product future circumstance and requirement, dealing product objective, and determine product to be followed and set  product  standard- planning in product management plays an important role because it determine the successful of the  product in the marketing environment

How to accomplish, the goal is the next this organizing the product is the process of dividing and evaluating the product attribute and successfully accomplish the stated product objective. Controlling the product ad the environment controlling the product is the process of ensuring that the product objective are reached and deviation from planning for the product are corrected controlling could be effective.  When report are got from the marketer and sales representative regarding area of  deviation  for correction purpose (Anyanwu 2013). However, the organization must understand and monitor the actors and forces that effect the environment  before organizing and co- ordination the product management process. This is because the environment is a very dynamic one and it needs a well organized structure, before any marketing activities can gain acceptance to the environment.

First bank has been making relentless efforts towards the management of product in Aba, Abia state, yet many of the products managed have all been able  to satisfy the need of their target customer.  As a result of this, these product do not receive adequate patronage and  resources wasted.  This affects bank profit negatively. Moreover, there are many hard  nuts to crack in the management of product which make it difficult for management to introduce new product even when old ones lack patronage- and this effects the ratio at which first bank manage product and hence slowness  in generating income.

Again, some of the target customers are not aware of  the  existence of some product of the bank which make such products lack patronage and even when patronized only a few people patronize them.  Hence banks effort in their management becomes futile. Furthermore, customer  of the bank are not adequate educated on the product managed and some bank staff are not properly equipped on the marketing  of financial service which makes it possible for profitable opportunities to be grasped in the bank such lack of education readers bank effort fruitless and resources used in managing such product wasted. Finally, some management of banks find it difficult to segment market for their product in that the product go to  wrong of the market where the product receive little or no demand which in the end readers  banks effort unprofitable.

The rationale befriend this study is to examine different product of the first bank are discover for they are managed.  Other objectives are as follows: 

1. To find out the difficulties environment in the process of product management in first banks.

2. To discover whether banks  customer are really satisfied with bank  products or not are why?

3. To find out  how best customer of the banks can be educated on the use of the bank product and how best to get them  known about the existence of such products.

4. To discover how best banks products market can be segmented for fruitful virtues. 

5. To determine the effect of product management bank on  profitability

6. To determine if management of bank products leads to increased product qualify.

7. To offer possible solutions/ suggestion for addressing such problem and /or make recommendation that may lead  to better bank customer relationship, increase customer satisfaction and bank profitability for brighter future. 

In the process of consulting this research, the following hypotheses have been stated.

Hypothesis I

Ho:   First bank products do not satisfy customer basic  at least            

Hi: first bank products satisfy customer basic at least

Hypothesis II 

Ho: the major problem encountered in product management is not wrong segmentation  of target market

Hi; The major problem encountered in product management is wrong segmentation of target market

Hypothesis III

Ho:  Effective management of bank product result increases profitability  in banks 

Hi:  Effective management of bank product  do not leads to increase profitability. 

This study will in a great way be of significance to the bank mangers, customers, individual wishing to engage themselves in banking business, unemployed graduate,  government and corporate organization in Aba. To the government the result of the study will not only enable them find out a well defined administrative strategies and management problems of the bank firms of various state, but also would act as a panel to solving similar problems of  government.

To the customer, it will expose them to the various marketing strategies that will lead to optimum banking business and high light problems facing the bankers so to prefer a better solution, it will also expose the advantages they stand to benefit from the bank service patronization.  To the corporate organization and other people or individual wishing to engage themselves into banking business, the study will enable them adopt the policy of consumer banker satisfaction as much as possible.  And also the possible suitable management procedure that will help them operate at the long run, since this is the motive behind every business .

To the students,  the study will enlighten their minds on the great importance of product to an effective and efficient marketing strategy through the roles bank services plays in the  finance sector. Finally to the research, the study will enhance  an indepth knowledge of product management marketing strategy, the management and operations while to the customer, to appreciate  the marketing means through which they reach them  and perhaps bear with them whether they live stock of expectation to problem beyond their control. 

This research work encompasses product management in all first bank in Aba as  at date.  Taking four branches of the bank in Aba in Abia state as a case study.  The effort they make toward managing such product and problems they consider in doing.

BANK:  Any person who carries  on  banking business and includes a commercial bank, an acceptance house, discount house and other financial institution.

PRODUCT MANAGEMENT:  The tasks of adjusting the product throughout its life to match the ever- changing demand of the market place

MARKTING:  The sensing and serving of consumer needs through an exchange relationship aimed at creating value in form of profit and satisfaction to the consumer.

MARKETING SEGMENTATION:  The process of dividing the total heterogeneous market for a product into several submarket or segments each of which tends to be homogenous in all significant aspects.