This study, “THE USE OF ADVERTISEMENT FOR EFFECTIVE BANKING SERVICE PROMOTION” contains concise information that will serve as a framework or guide for your project work. The project study is well-researched for academic purposes and are usually provided in complete chapters with adequate References. Keywords: THE USE OF ADVERTISEMENT FOR EFFECTIVE BANKING SERVICE PROMOTION
CHAPTER ONE 1.0 INTRODUCTION 1.1 BACKGROUND OF THE STUDY 1.2 STATEMENT OF THE PROBLEM 1.3 OBJECTIVES OF THE STUDY 1.4 RESEARCH QUESTIONS 1.5 RESEARCH HYPOTHESIS 1.6 SIGNIFICANCE OF THE STUDY 1.7 SCOPE OF THE STUDY 1.8 DELIMITATION OF THE STUDY 1.9 DEFINITION OF TERMS CHAPTER TWO 2.0 LITERATURE REVIEW 2.1 CONCEPT OF ADVERTISEMENT 2.2 OBJECTIVES OF ADVERTISING 2.3 THE COMMUNICATION ROLE 2.4 MANAGING ADVERTISING PROGRAMME 2.5 CRITICISM OF ADVERTISING 2.6 ADVERTISING AND CUSTOMER LOYALTY CHAPTER THREE 3.0 RESEARCH METHODOLOGY 3.1 RESEARCH DESIGN 3.2 AREA OF STUDY 3.3 POPULATION OF THE STUDY 3.4 RESEARCH SAMPLE AND SAMPLING TECHNIQUE 3.5 INSTRUMENT FOR DATA COLLECTION 3.6 VALIDITY OF THE INSTRUMENT 3.7 METHOD OF DATA COLLECTION 3.8 METHOD OF DATA ANALYSIS CHAPTER FOUR 4.0 DATA ANALYSIS AND PRESENTATION CHAPTER FIVE 5.0 SUMMARY OF FINDINGS, CONCLUSION AND RECOMMENDATION 5.1 SUMMARY 5.2 CONCLUSION 5.3 RECOMMENDATIONS REFRENCE APPENDIX CHAPTER ONE INTRODUCTION 1.1 Background to the Study Organizations are established for the aim of making profit, except for non-profit making which is primarily for the welfare of the citizenry. Before the advent of advertising, organizations were able to communicate their products to customers through other means. Advertising is one of the promotional tools amongst others which organizations use in communicating their product to target customers. Advertising ensures a certain exposure for the product or service being advertised, it increases sales and assist salesman in sales of goods and services. It creates awareness, improves customer attitude towards the product and service of the firm, it stimulates demand, increases customer base. It is also used to capture a wide range of customers. By means of advertising one can give proper information about their brands to the customer, most importantly every organization that advertises has a competitive edge over the others. Advertising after stimulating a demand in the heart of the consumer, causes the consumer to purchase these products, if the customer is satisfied with the product, it leads to continuous or repeat purchase of the product by the consumer which increases the revenue of the organization and the customer is attached to this product which leads to customer loyalty. Customer loyalty on the other hand, improves the market share of the organization, profit and sales. It leads to brand advocacy. For example, a loyal customer goes out to promote a product without been compensated. Loyalty also leads to customers being price insensitive; even if the price is increased they still purchase the product because they trust the brand. Forecasting is made easier for the organization as the attitude and behavior of the customer is known. Advertising has been seen as a tool that attracts customers, which might lead to purchase and re-purchase and end up in customer loyalty. Since after the reforms of the banking sector in 2004, banks has shown tremendous growth. Policies of Liberalization and Globalization have led to competition in the financial sector (Pathania, 2012). This keen competition in the market and change in the business and industries, led the Financial Institutions to offer the variety and quality of products and services to their customers. In order that the quality of services which they offer should be known to the customers the companies should advertise their products and services. Advertisement helps Financial Institutions to makes an attempt to change or reinforce the attitude of the customer, reader and viewer towards the advertised products. Advertising is a mass communication tool involving an identified sponsor, the advertiser, who normally pays a media organization, such as television network, to run an advertisement that has usually been created by an advertising agency. The basic task of advertising is to communicate information efficiently to groups of individuals that could number in hundreds of thousands or millions. (Aaker and Myers,1975). Advertisement plays an important role in the society, and now financial sector is no exception to this. It generates the awareness between the consumers about the recent products which are being offered to them. It also creates a relationship between the company and the consumer. For example, if a bank offers the home loans at an attractive EMI’s, Fix account with more rate of interest, A post office has to offer various saving schemes, corporate loans, the financial intuitions by adopting the best mode of communication so that the people will be known to their offerings. Due to the paradigm change in the societal behavioral patterns and technology there are many new advertising opportunities which are coming like Popup ads, Flash ads, Banner ads, and email ads (often a form of SPAM), Social networking sites etc. Due to the privatization of financial sector the competition among the different Financial Institutions has increased tremendously, as each institute is trying to build its market share by offering variety of financial products designed for their targets markets. In this scenario, every institution claims uniqueness of its products and tries to impress upon the consumer that these products are best suitable for his needs. Due to strong and intense competition the advertising and other promotional strategies assumes a significant role as far as the promotion of these financial products and services are concerned. 1.2 Statement of the Problem Due to the increasing number of commercial banks and agents offering similar services, banks have faced with a big problem to attract customers and as a result their deposits. Therefore banks in this competitive environment that wants to maintain their market share or increase its share of the market should have a suitable plan for delivering advertising. Some banks did not pay much attention to assess the effectiveness of advertising due to lack of adequate information and a lack of familiarity with the patterns and models for evaluating the effectiveness of advertising managers and a lack of practical examples in this field. Changes in the type of client’s transaction in bank from physical presence of customers in branches and doing transaction with bank to use of postal services to deposit money and perform other banking operations, the transaction via phone and contact center with customers, use keys of phone to interact with bank and accountability audio and video, banking via PC, using a modem and special software and finally use of internet reflects historical path of changes that is lead to improve and increase the diversity of banking services to customers (Gilaninia & et al, 2011a), although different research has be done on the use of advertisement and banks, this research therefore will study the use of advertisement for effective banking service promotion in Nigeria, using First Bank as a case study 1.3 Objective of the Study The main objective of this study is to find out the usage of advertisement for effectiveness banking service promotion, specifically the study intends to 1. Find out the effect of advertisement on customer level of first bank 2. Analyze the relationship between advertisement and bank productivity 3. Find out the most effective form of advertisement for First bank Nigeria 1.4 Research Question 1. What is the effect of advertisement on customer level of first bank 2. Is there any relationship between advertisement and bank productivity 3. What is the most effective form of advertisement for First bank Nigeria 1.5 Research Hypothesis Ho: there is no relationship between advertisement and bank productivity Hi: there is relationship between advertisement and bank productivity 1.6 Significance of the Study This research work will be useful to management of banks in Nigeria to the importance and effectiveness of advertising, this research will also expose them to the most effective form of advertisement to promote their service. This research will also serve as a guide and reference point of other researcher and research on the same topic. 1.7 Scope of the Study This research work be conducted in Ado Odo Ota LGA in Ogun state, a branch of First bank will be used as the target population for the study. 1.8 Delimitation of the Study Finance for the general research work will be a challenge during the course of study. Correspondents also might not be able to complete or willing to submit the questionnaires given to them. However, it is believed that these constraints will be worked on by making the best use of the available materials and spending more than the necessary time in the research work. Therefore, it is strongly believed that despite these constraint, its effect on this research report will be minimal, thus, making the objective and significance of the study achievable. 1.9 Definition of Terms Advertisement: a notice or announcement in a public medium promoting a product, service, or event Services Promotion: refers to any type of marketing communication used to inform or persuade target audiences of the relative merits of a product, service, brand or issue
Keywords: THE USE OF ADVERTISEMENT FOR EFFECTIVE BANKING SERVICE PROMOTION
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