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Marketing project topics and materials preview

THE EFFECT OF MARKETING STRATEGIES ON PRODUCT LIFE CYCLE

THE EFFECT OF MARKETING STRATEGIES ON PRODUCT LIFE CYCLE (A CASE STUDY OF MTN NIGERIA KADUNA)

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ABSTRACT

Marketing strategies have been the effective tool available for organization in achieving the marketing goals and objectives. It serves as a determinant for a product movement along the product life cycle curve (Product Life Cycle ). Telecommunication industries is not left out, an attempts is made to evaluate the extend to which the effect of marketing strategies on a product life cycle is applied by MTN Nigeria Kaduna mobile phone service providers. The method used for data collection was structured questionnaire. The randomly selected size of (20) out of a estimated population of twenty five (25) management staff and eighty out of a population of one hundred customer/distributors were used for the research work. The data collected were tabulated, analyzed and interpreted using simple percentage method for easy comprehension. Hypothesis was developed and put into test, thus: Ho: Application of marketing strategies of MTN Nigeria does not have any significant effect on the product life cycle. H1: Application of marketing strategies of MTN Nigeria have a significant effect on the product life cycle. After the proof of the above hypothesis, the alternate hypothesis was accepted, while the null hypothesis was rejected. The study conclusively found that MTN Nigeria (Kaduna) applies marketing strategies in its marketing operation while it observe its product life cycle curve, even though the effectiveness of the marketing strategies have not been fully maximized due largely to some constraint that come from both the internal and the external factors. It is thus recommended that for the company to improve on its current marketing share through the application of marketing strategies it has to urgently improve the quality of its service to the subscribers.

CHAPTER ONE
1.0 INTRODUCTION
The effect of marketing strategy on Product Life Cycle (Plc) is adopted in order to forecast the activities involving the strategy in the stages in the Product Life Cycle (Plc).
Its successful accomplishment requires analysis of the data from the past decision in the present, and evaluation of the future.
However, the company’s position and differentiation strategy must change the product, market and competitors changes over the Product Life Cycle (Plc).
To say that a product has Life Cycle (LC) is to assert four things:
1. Product have a limited life
2. A product sales pass through a distinct stage, each posing different challenges, opportunities and problem to the seller.
3. Profit rise and fall at different stages of the Product Life Cycle (Plc).
4. Product requires different marketing financial, manufacturing, purchasing and human resource strategy in each Life Cycle (LC) stage.
Most Product Life Cycle (Plc) curves are portrayed as lock-shaped. This curve is typically divided into four stages: Introduction, growth, maturity and decline.
In the functional units of the telecommunication industry, the responsibility of ensuring that the product stayed long in the market depends on the efficiency of the marketing unit in the firm; which will also look at the ways at which product are developed i.e. the right product for a target market that will come in either physical goods or service or a blend of both; though reaching the target market, which is concerned with getting the right product to the target market place as a product is not much good to the customer it is not available when and where it is wanted.
1.1 STATEMENT OF GENERAL PROBLEMS
The major problem of product life cycle has to do with inefficiency of the executive, which make it difficult to achieve success in the various stages of the LIFE CYCLE curve.
So many products have died before they were being lunched into the market because of the poor introduction of marketing strategies. Therefore, a lot of companies are into debt to remain in operation.
Producers are no longer interested in marketing profitability or profitable sales through satisfying customer’s needs, but they are only interested on marketing high profit which consequently has lead to inflection as one of the major problems facing product survival within the business world.
Irregularity like bribery an corruption practices, blackmailing so as to gain large market share between companies and competitors, companies no longer use quality and efficient service delivery to gain large market, but instead they use obsolete equipment in providing services which result into poor service delivered at an exorbitant price all in the bide to make high profit, therefore, this project will look at the effective way of applying the marketing strategy to gain good and healthy result on the cycle of a product, and also it will highlight the impact the concept has made in telecommunication world especially in MTN service in Nigeria.

1.2 THE HISTORICAL BACKGROUND OF THE SUBJECT MATTER
MTN Nigeria is part of the MTN group, Africa’s leading cellular telecommunications company. On May 16, 2001, MTN became the first GSM network to make a call following the globally lauded Nigeria GSM auction conducted by Nigerian communication commission earlier in the year. Therefore the company launched full commercial operations beginning with Lagos, Abuja and Port Harcourt.
MTN paid $285m for one of the four GSM licenses in Nigeria in January 2001 to date, in excess of US $1.8 billion has been invested in building telecommunication infrastructures in Nigeria.
Since launch in August 2001 MTN has steadily deployed its services across Nigeria. It now provide service in more than 223 cities and towns, more than 10,000 villages and communities and a growing number of high-ways across the country, spanning the 36 states of Nigeria and the Federal Capital Territory, Abuja. Many of these villages and communities are being connected to the world communication for the first time ever.
The company is digital microwave transmission backbone, the 3,400 kilometre Y’elloBahn was commissioned in January, 2003 and is reported to be most extensive digital microwave transmission infrastructure in all Africa. The Y’elloBahn has significantly helped to enhance call quality on MTN network.
The company subsists on the core brand values of leadership, relationship, integrity, innovation and “can-do”. It prides itself on its ability to make the impossible, possible connecting people with friends, family and opportunities.
MTN Nigeria has been expanding its. Network capacity to include the numbering with the prefix 0806 to 070, marketing the MTN the first GSM network in Nigeria to have adopt an additional numbering system having exhausted its initial subscriber numbering range – 0803.
In its resolve to enhance quality customer service, MTN Nigeria has also introduced a self-help foll-free 181 and 180 customer care line through which subscriber can resolve their frequently asked question free of charge.
MNT’s overriding mission is to be a catalyst for Nigeria economic growth and development, helping to unleash Nigeria’s strong developmental potential not only through the provision of world class communications but also through innovative and sustainable corporate social responsibility initiatives.

Marketing project topics and materials preview

THE IMPACT OF MARKET SEGMENTATION AND PRODUCT POSITIONING IN A SERVICE INDUSTRY

THE IMPACT OF MARKET SEGMENTATION AND PRODUCT POSITIONING IN A SERVICE INDUSTRY (A case study of MTN, Ahmadu Bello Way Kaduna)

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MAKE YOUR PAYMENT  INTO ANY OF THE FOLLOWING BANKS:
 
 GTBANK
Account Name : Host Link Global Services Ltd
ACCOUNT NUMBER: 0138924237
First Bank:
Account Name: Chi E-Concept Int’l
Account Name: 3059320631

Foreign Transaction For Dollars Payment :
Bank Name: GTBank
Branch Location: Enugu State,Nigeria.
Account Name: Chi E-Concept Int’l
 Account Number:  0117780667. 
Swift Code: GTBINGLA 
Dollar conversion rate for Naira is 175 per dollar. 

ATM CARD:  YOU CAN ALSO MAKE PAYMENT USING YOUR ATM CARD OR ONLINE TRANSFER. PLEASE CONTACT YOUR BANK SECURITY FOR GUIDE ON HOW TO TRANSFER MONEY TO OTHER BANKS USING YOUR ATM CARD. ATM CARD OR ONLINE BANK TRANSFER IS FASTER FOR QUICK DELIVERY TO YOUR EMAIL . OUR MARKETER WILL RESPOND TO YOU ANY TIME OF THE DAY. WE SUPPORT CBN CASHLESS SOCIETY. 

OR
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ABSTRACT
This project work titled “The Impact of Market Segmentation and Product Positioning In Service Industry” with reference to MTN Ahmadu Bello way Kaduna. Contains five chapters. It a body of knowledge in the field of business, that marketing concept which are applied in the manufacturing industry are applicable in the organisation. The focus of this project is base on the introduction of the subject matter, background of the subject matter, statement of the problem and the research of the objective for the study was also made. However, the research scope, significance of the study, including the limitation were highlighted and clarified, also definition of terms used during the study were stated. Literature reviews were carried out, also questionnaire were administered to collected data from the management and staffs of the MTN and a simple percentage was used to analyze the collected data for easy understanding. Research population and sample size, a sample size of 12 were taken from the population of 24 of only the management and staff of the MTN. The discussion of the result have been carried out. The study conclusively discovered that segmentation and product positioning is a vital tool for any business, it is recommended that MTN should continue to segment, this is because, the net effect will be sustainable profitability.

CHAPTER ONE
1.0 INTRODUCTION
Marketing is a business that identifies unfulfilled needs and wants defines and measures their magnitude determines which target market, the organisatioon can best serve and decide on appropriate product, services and program to serve these markets.

Consumer are the most important things to consider while operating any business environment. It must therefore be clear that a through and constant study of the consumers is one thing and another entirely those needs of the consumer at a profitable level, hence marketers resort to a lot of strategies.

Many people are confusing marketing for its sub-functions such as advertising selling and merchandising. But an authentic marketing is not the act of selling what you can make but knowing what to make. It is art of identifying and understanding customers profit to the producers and benefits for the stakeholders.

Market leadership is a gained by creating customer services therefore marketing can be viewed as customer oriented philosophy. It is the creation and delivery of a standard of living. Organization must try to identify a particular market that is more attractive and that can be managed affectively and profitable. Market segmentation attempts to identity significant difference in buyer characteristic which is used to determine which target market should be aimed at and the type of product to be given to that market.

Market segmentation can be defined as the act of dividing a market into distinct parts. A market consists of buyer and these buyers differ in one or more respects.

They may differ in wants resources and geographical locations. Buying attitude and buying practices. Any one of all these can be used to segment a market in order to serve the customer more effectively and efficiently.

Market segmentation can therefore be defined as the act of dividing a market into distinct parts, that is the process of dividing the total heterogeneous market for a product into several submarket or segment each of which tends to be homogeneous in all. Significant aspects, it can also be define as the act of dividing a market into distinct and meaningful groups of buyers who might merit separate product and or market mixes.

Segmentation strategy helps the organization to find reaction in customer trait and producing in line with those characteristics so as to conform to those identified needs of the customers.

1.1 BACKGROUND OF THE STUDY
It is obvious that companies can not connect all customers in large broad or diverse market and as a result of the needs to divide market in to group of consumer or segments with distinct needs and wants. It therefore becomes paramount for a company to identify which market segment to serve better. Before the objective can be achieved, it is required that a keen understanding of consumer behaviour and careful strategic thinking. To develop the best marketing planning, managers need to understand what makes each segment unique and different. Modern marketers in their quest to study consumer behaoviour and responses to benefit offer by the product for example do people want quantity rather than low price. In an attempt to increase benefit to consumers, this will aid marketers to know how best to satisfy each category of these customers. It required a keen understanding of consumers’ behaviour and careful strategic thinking.

The over all intent is to identify groups of similar customers and potentials customers to prioritize the groups to address to understand their behaviour and to respond with appropriate marketing strategic that satisfy the different performance of each chosen division and thereby improve the company revenue. This can however be achieved through a distinct division of groups of buyers who might requires separate product and for marketing mix known as market segmentation.

According to Michael Porter (1970 P:37) with the right segmentation, the right list can be purchased advertising results can be improved and customer satisfaction can be increased leading to better reputation

Nelson (1984 page 125) explain that united states in the 18 century provides a broad segmentation of the population of their country based statistical analysis of house hold and geo-demogrpahic data. The recent times market has been divided based on the number of general criteria. Such as industrial or public versus private, although industrial market segmentation is quite different from consumer market segmentation but both have similar objectives. Regardless of which type of segmentation a marketer uses, the secret behind the marketing programmes recognize customer differences and efficiently highlight the differences to offer maximum satisfaction to every division.

1.2 STATEMENT OF THE PROBLEM
The quest for increasing the sales of consumer goods is every organization’s problem. Both marketers of services and tangible seek to enhance profit and sales turnover and the objective of profitability can only be achieved when firms properly understand and apply the marketing segmentation strategy. Firms are also faced with the difficulty at identifying and selecting particular market target and satisfying them by blending the marketing mix elements thus marketing segmentation, recognize that every market is made up of distinguishable segments consisting of buyers with different needs. The task of clearly understanding consumer needs and wants identifying various homogeneous customer characteristic according to an outlined dimension in order to group them together adequately and to effectively develop marketing mix to match these characteristic and buying requirements. All posses a fundamental marketing problem to firms.

Marketing segmentation is one among the various strategic concept that form the basic for marketing programs. Segmenting markets into subsets with the aim of satisfying customer groups equally sales of consumers goods and profitability for the total organization and the stakeholders is an objective and goal of every business that practices the marketing concepts most organisation encounter the problem of determining the appropriate pricing promotional and distribution strategy to adopt in satisfying the numerous customers. Though some firms fined it excruciating to marketing segmentation strategy due to their inclination of the strategy as an expensive and time consuming exercise. This is because of inadequate information on its importance of marketing segmentation and its impact on sales of consumers goods has become a research problem.

Marketing project topics and materials preview

THE IMPACT OF MARKETING INFORMATION SYSTEM ON SALES PERFORMANCE OF PEUGEOT AUTOMOBILE NIGERIA LIMITED

THE IMPACT OF MARKETING INFORMATION SYSTEM ON SALES PERFORMANCE OF PEUGEOT AUTOMOBILE NIGERIA LIMITED (PAN) KADUNA

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MAKE YOUR PAYMENT  INTO ANY OF THE FOLLOWING BANKS:
 
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Account Name : Host Link Global Services Ltd
ACCOUNT NUMBER: 0138924237
First Bank:
Account Name: Chi E-Concept Int’l
Account Name: 3059320631

Foreign Transaction For Dollars Payment :
Bank Name: GTBank
Branch Location: Enugu State,Nigeria.
Account Name: Chi E-Concept Int’l
 Account Number:  0117780667. 
Swift Code: GTBINGLA 
Dollar conversion rate for Naira is 175 per dollar. 

ATM CARD:  YOU CAN ALSO MAKE PAYMENT USING YOUR ATM CARD OR ONLINE TRANSFER. PLEASE CONTACT YOUR BANK SECURITY FOR GUIDE ON HOW TO TRANSFER MONEY TO OTHER BANKS USING YOUR ATM CARD. ATM CARD OR ONLINE BANK TRANSFER IS FASTER FOR QUICK DELIVERY TO YOUR EMAIL . OUR MARKETER WILL RESPOND TO YOU ANY TIME OF THE DAY. WE SUPPORT CBN CASHLESS SOCIETY. 

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ABSTRACT

A marketing information system (MIS) is an orderly procedure for the regular collection of raw data both internally and externally and the conversion of these data into information for marketing decisions. This research project studies the impact of marketing information system on sales performance of Peugeots Automobile Nigeria (PAN) Limited Kaduna. The study covers five chapters. The problem of the study is to determine the adequacy of the marketing information system on sales performance of Peugeot. Survey research design was adopted for the study. 150 people was chosen as sample size out of the 1,185 population using simple random sampling techniques. Relevant research questions were formulated and used for gathering of data with its qualitative instrument questionnaire. The survey to the research question have produce a number interested findings. One of the important findings shows that one basic ways of gathering information by the Peugeot Automobile Nigeria Limited. (PAN) Kaduna. was through their internal records (information). Which is to say, information is given by the stock control unit. The study conclusively discovered that adequate attention should be given on their marketing mix (price, promotion, place and product) effective distribution of quality products are very paramount in Peugeot Automobile Nigeria Limited (PAN) Kaduna marketing. It is thus recommended that the relationship between the sales department marketing information department and production department should be greatly improved.

CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
In carrying out Marketing Analysis, Evaluation and Distribution, Marketing Managers need timely and accurate information about customers, competitions, dealers and other forces in the market place. Marion Herper (2000, pg 203) says the “to manage a business well is to manage its future and to manage the future is to manage information”. (Kolter and Armstrong (2000, pg 114) in An Introduction to Marketing).

During the past century, most companies were small and knew their customers first hand, managers pick up marketing information by starting around people observing them and asking them questions. In this present century, many factors have increased the need for more and better information management. As companies expend into national and international markets, they need more information on large and more distant markets.

As income increase and customers become more selective, managers need better information about how customers behave to different products. Marketing managers need information on the effectiveness of their marketing tools. In today’s rapidly changing environments, managers need much better up- to –date information to make timely decision.
Marketing Information System (MIS) begins and ends with the marketing managers to asses their information needs and also develop the needed information from internal company records, marketing intelligence activities and marketing research process. In addition, the marketing information system distributes information to managers in the right form and at the right time to help them in marketing planning, implementation and control.

By accessing information needs, a good marketing information system balances the information managers would like to have against what they really need and what is feasible to offer. Sometimes MIS cannot supply all the information managers are requesting for. MIS must therefore, watch the marketing environment and provide decision – makers with information they should have to make key marketing decisions. More so, developing information is required for making day – to – day planning, implementation and control decision. The development of information is subdivided into three (3): Internal Records (Report), Marketing Intelligence and Marketing Research.

Most companies of today are faced with the problem of declining level of sales. Therefore, marketing information system as related to the Peugeot Automobile Nigeria Limited (PAN), Kaduna is intended to improve the general level of sales in the company and other existing companies in the country.

1.2 STATEMENT OF THE PROBLEM
Paramount problem as regards to the decline in the level of sales in most companies in Nigeria is due to insufficient marketing information system. This situation led the researcher to undertake a research work to know how to improve the standard of marketing information system, and to know the roles that could be played by the marketing information system in enhancing sales of the Peugeot Automobile Nigeria Limited (PAN) Kaduna. The problem to be examined is to determine how sales could be maintained using marketing information system.

1.3 OBJECTIVES OF THE STUDY
The study has its objective towards improving the effectiveness of marketing information system and to also improve the sales margin of companies in Nigeria. Other objectives are:
i. To determine the objectives of Marketing information system in the organisation
ii. To investigate the functions of marketing information system in Peugeot Automobile Nigeria Plc
iii. To investigate the limitation of marketing information system in the organisation.
iv. To Examine the contribution of marketing Information System in the organisation

Marketing project topics and materials preview

Customer services in financial institutions, a step towards Improving profitability

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Customer services in financial institutions, a step towards Improving profitability  (a case study of union bank plc, oko)

 

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List of tables

Table i:    response to the question; how is union bank of nigeria plc, oko branch rated by is customers and general public in terms of profitability.

Table ii:  response to the question which of union bank of nigeria customer service innovations are its customers aware of?

Table iii: response to the question; how do they rate them via-a-vis their ability to engender customer satisfaction?

Table iv:  response to the question; what perception do the customers of union bank of nigeria plc have of courteousness and friendliness of their staff at oko branch.

Table v:   response to the question; what do the customers of union bank plc, oko fell about their speed of service?

Abstract

Due to the importance of customers service in the business world. Many privileged organizations most especially the financial institutions are now depending strongly on it to enhance or improve their profitability. Ideas and opinions were received from staff and reputable customers of union bank of nigerian plc, oko branch, which was used as a case study.

These ideas and opinions were got through the use of open and close ended questionnaires, interviews and observation. The data collected was analysis with the use of chi-square (x2) which is a statistical technique used in comparing the differences between observed and expected frequencies. Actually only banks with foresight with respect to customer service will succeed amidst competition.

Meanwhile union bank of nigeria plc will really benefit more if they take advantage of the result of this research work, here by sustaining its customers and at the same time keeping them happy.

Table of content

Chapter one

1.0   introduction                                                 1

1.1   background of study                                     4

1.2   statement of the problem                              5

1.3   purpose of the study                                     6

1.4   hypothesis                                                    7

1.5   scope/limitation of the study                 9

1.6   significance of the study                        10

1.7   definition of terms                                        11

Chapter two

Review of related literature                                   15

2.0   introduction                                                 15

2.1   budget                                                         15

2.2   budgeting

2.3   historical development pf budgeting               21

2.4   reasons for budgeting                                   23

2.5   types of budget                                             29

2.6   variance analysis                                          38

2.7   importance of variance analysis                    38

2.8   controllable and uncontrollable cost              44

2.9   responsibility accounting                              44

2.10 budget administration                                   45

2.11 budgetary control                                         46

2.12 objectives of budgetary control                      47

2.13 basic requirements for a good budgetary

Control system                                             48

Chapter three       

Research methodology                                          51

3.0   introduction                                                 51

3.1   population of the study                                 51

3.2   sample size                                                  52

3.3   sample method of data                                  52

3.4   sources of data collection                              53

3.5   administration and retrieval of questionnaire 53
3.6   procedure used for data analysis                   54

Chapter four

Presentation and data analysis                             56

4.0   introduction                                                 56

4.1   presentation and analysis                             56

Chapter five

5.0   introduction                                                 75

5.1   summary of findings                                     75

5.2   conclusion                                                    76

5.3   recommendation                                           77

5.4   suggestion for further research                     78

5.5   limitation of the study                                   79

references                                                    81

appendix a                                                   83

appendix b                                                   84

Chapter one

Introduction

        the topic of this research work is of course, customer services in the financial institutions, a step towards improving profitability (a case study of union bank plc oko).

woodruff (1997) defines profitability as the ability of an investment or a company to make a profit after costs. Overhead, etc. Profit on the other hand, is the difference between the income of the business and all its costs and expenses over a period of time.

shaw (1990) defines a service as a performance that delivers some combination of benefit to the customer.

union bank of nigeria plc, a bank established in 1917, as bank of colonial africa, increased its profits after tax from 5.035 billion in 2001 to 9.375 billion naira in 2005. In july 2009, the bank was rated the 556th largest bank in the world and the 14th largest bank in africa, with an asset base of us $826 million.

however, the bank was one of the banks that were controversially indicated by the central bank of nigeria in november 2009, for what the apex bank termed as improper loan and financial management.

the profitability of banks could be increased through a plethora of ways. These include the aforementioned financial management, the recruitment and training of seasoned personnel, honesty of staff intensive/extensive selling efforts and other factors. Nevertheless, the focus of this work is to examine how profitability could be increased through improved customer services. This line of thought is congruent with the marketing concept, which makes consumer satisfaction the fulkrum of all organizational activity, banks not being exceptions.

1.1   background of the study

in the last ten years there have been important changes in the business of consumer financial services. The main characteristic that has marked the evolution of the financial system has been paradoxical (in the sense of reduction in number of banks but increase in their ability to compete, through bank consolidation) increase in competition in the sector. The banking business has undergone changes in the regulation of the sector, changes in consumers demand for services, technological changes and the entry of new competitors from businesses outside banking (gardner et al, 1999). Due to this an increasingly open and competitive framework has been formed, in which many financial entities are beginning to be concerned about developing defensive strategies, in order to avoid in discriminate loss of customers. According to jacuhy and chestnut (1978), firms should strive to maintain long-term relationships with their customers, in order to obtain the advantages of a clientele loyal to the firm.

union bank of nigeria plc was established in 1917, as bank of colonial african. It opened its bank at oko in august 15,1995. The bank, since its inception has initiated several customer friendly innovations and strategies which it also extended to its oko branch. These innovation and strategies include the use of automatic teller machines (atm), computerized banking services, automated security check doors, bullet proof bullion services, flash me cash, air conditioned banking hall, cable television etc.

we will examine, in the course of this research work of course, at a macro level, how these customer services innovations and strategies have increased the profitability of the bank. We will also recommend ways in which the bank could improve the effectiveness and efficiency of its service delivery system.

1.2   statement of the problem

  1. Lack of customers satisfaction.

Ii.     Loss of market share

Iii.    Poor customer relationship

Iv.    Lack of improved customer service

  1. Poor quality services rendered to their customers

1.3   purpose of the study

  1. To determine if customers are satisfied with performances of the bank.

Ii.     To find out the best way to increase the banks customers.

Iii.    To increase the staff and customer relationship.

Iv.    To determine how best to improve customer service.

  1. To find out how to improve the quality of services rendered to the customers.

1.4   significance of the study

        this research work may be helpful to those who are either carrying out research work in banks profitability, customer service, hotels any other establishments in the service industry.

it will also be useful to scholars and students of the aforementioned areas.

 

1.5   research questions

the following are the research questions

  1. How is union bank of nigeria plc, oko branch rated by its customers and the general public, in terms of profitability?
  2. Which of union bank of nigeria’s customer service innovations are its customers aware of?
  • How do they rate them, vis-à-vis their ability to engender customer satisfaction?
  1. What perception do the customers of union bank of nigeria have of the courteousness and friendliness of their staff at oko branch?
  2. What do the customers of union bank of nigeria plc, oko branch feel about their speed of service?

 

1.6   hypothesis

the hypothesis was formulated based on the problems stated above.

  1. Null hypothesis – ho: the profitability of financial institutions in nigeria cannot be increased through improved customer service.

Ii.     Alterative hypothesis – hi:       the profitability of financial institutions in nigeria can be increased through improved customer service.

1.7   scope of the study

this research work is limited to union bank of nigeria plc, is services are more or less similar to that of other banks.

based on this, the researcher has decided to find out the kind of services and how to satisfactorily these services are rendered to customers.

1.8   definition of terms

the following terms are hereby defined:

  1. Customer services: an instrumental activity performed for a consumer or a consummatory activity involving consumer participation in but not ownership of a company’s product and facilities
  2. Marketing: marketing is a social and managerial process by which individuals and groups obtain what they need and want through creating offering and exchanging products of value with others.
  • Marketing concept: is a corporate state of mind that insists on the integration and co-ordination of all the marketing functions which in turn are melded with all other corporate functions, for the basic purpose of producing optimal consumer benefits and maximum long-range corporate profit.
  1. Commercial bank: is an institution which accepts deposits, makes business loans and offers related services for profit.
  2. Bank: this is any person or institution responsible for collecting deposits and other valuable items from customers for safe-keeping.
  3. Customer satisfaction: – this is the extent to which a firm fulfills customers needs desires and expectations.
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Corporate advertising as an effecting promotional tool in the marketing of banking services

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Corporate advertising as an effecting promotional tool in the marketing of banking services

(a case study of selected commercial bank in delta state)

Table of Contents

Chapter one

1.0   introduction – –      –      –      –      –      –      -1

  • Background of the study – –      –      –      -1
  • Statement of problem- –      –      –      –      -4
  • Purpose of study – –      –      –      –      –      -4
  • Significance of the study – –      –      –      -5
  • Research questions – –      –      –      –      -6
  • Hypothesis –  –      –      –      –      –      –      -7
  • Scope of the study – –      –      –      –      -7
  • Definition of terms –     –      –      –      –      -8

Chapter two

2.0   literature review –   –      –      –      –      –      -11

2.1   historical milestones in advertising     –      -11

2.2   history and development of advertising in nigeria -12

2.3   the corporate advertising objective –    –      -22

2.4   measuring the effectiveness of corporate advertising –        –      –      –      –      –      –      -26

Chapter three

Methodology

  • Design of the study – –      –      –      –      -32
  • Area of the study – –      –      –     –      –      -33
  • Population of the study – –     –      –      -33
  • Sample of the study – –      –     –      –      -34
  • Instrument for data collection – –      –      -35
  • Validation of the instrument – –      –      -35
  • Distribution and retrieval of the instrument- 37
  • Method of data analysis – –      –      –      -38

Chapter four

4.1   data presentation and analysis –  –      –      -39

4.2   data presentation –         –       –       –       –       -39

4.3    testing of hypothesis –        –       –       –       –       -46

 

Chapter five

Summary, conclusion and recommendations

5.1   summary of findings     –      –      –      –      -57

5.2   conclusion –    –      –      –      –      –      –      -58

5.3   recommendations –        –      –      –      –      -59

5.4   limitation of the study – –      –      –      –      -62

5.5   suggestion for further research  – —     –      -63

References –    –      –      –      –      –      –      -65

Appendix a –   –      –      –      –      –      –      -68

Questionnaire –      –      –      –      –      –      -69

 

Abstract

This study on “co-operate advertising as an effecting promotional tool in the marketing of banking services, has tried to seek answers to the crucial question that plaques the memory of readers. Questions on how co-operate advertising acts as an effective promotional tool in the marketing of banking services, its values and importance. Chapter one of the study deals with the general introduction of the study, it’s background and analyses, statement of the study, significance, the research question and most importantly the definition of terms. Chapter two of the study examines extensively different views such as literature review, observations and comments of economist on the effectiveness of co-operate advertising. The third chapter is about the method to be used in conducting the research study. The type of method of study to be used which is survey method, design, sample size and population. Chapter four is about data analysis and result. Chapter five summarizes it and deals with recommendation.

 

 

Chapter one

1.0  introduction

  • Background of the study

Business is like a bicycle either you keep moving or you fall down.

Over the century, man have been able to achieve so many fears, one of those great fears is the ability to like the whole world together through invisible thread called communication, without communication we would merely be isolated groups without any coordination we have today. In prehistoric time communication was haphazard and primitive. With time however the need for a better organized and developed system of communication become more and more crucial.

 

In marketing, the need for communication cannot be over emphasized. When a firm has developed the perfect product or services, have priced it attractively and has made i accessible to the target customers yet they customers are unaware of all these, the success of such effort may be unwanted.

Marketing communication is used to achieve these aims and various tools are employed to achieve the firms communication objectives such tools are advertising, sales promotion, personal selling and publicity, it has been used by firms in the marketing communication, however advertising has often been employed, it reaches a much wider audience than any of other tools would normally reach. Ceyman (1969). Contends that advertising is concerned with conveying about a product or service and the company producing that product or services to the potential  buyers.

Bank provide array of services for the customers. It is hence necessary, to communicate information about these     service, their benefit and new features a customer considering the financial   aspect of the banking services, bank also have to build up an image of respect ability and viability through co-operation advertising . When confidence reposed in banks the customers would be better disposed to have dealings with them. Hence a bank has to constantly inform its customers. (present and potential) about its services and about itself in order to build an image.

  • Statement of the problem

Banks are custodians of the customer trust. They don’t simply provide financial service’ they provide peace of mind of the customer with this on mind, the banks corporate advertising plans should ensure that the customer is well inform of its offers, solution to solve problem. A good number of banks are seeing the importance of advertising, but some still see it as an adhere affair not something that should be done all of the time based on the above, this study aim at examining the extent to which banks carry out advertising co-operative and the effectiveness of such campaign.

  • Purpose of the study

This study is aim at finding out the extent to which certain have gone in exchanging corporate advertising as a part of the marketing strategy used the effect by some bank customer.

Making recommendation for effective corporate advertising in banks.

  • Significance of the study

The age-old banking tradition was to sit down and wait for customers. Such a step those days would be suicidal. A bank with state of the art facilities and service my still not make such heavy profit if it does not talk. And with problem arise step to correct the situation may be taken a little too late. It is hoped that through this study, insight can be gained as to how to effectively established, maintained and improve line of communication between the bank and its public. When its public understand a bank policies aspiration etc a more efficient banking system can be hoped for with room still for further improvement.

  • Research question

It is expected that research work should be able to provide answers to the following research question.

  1. Do bank advertise from head office?
  2. Are bank truthful in their corporate advertising?
  3. Does corporate advertising influence the customer’s choice of bank?
  4. Which of the promotional tools is the most effective for bank marketing?
  5. Does corporate advertising by banks’ increase their customer’s awareness?
  • Hypothesis

In carrying out the study, the researcher will work with the under listed hypothesis so formulated shall be the end of the study.

  1. The customers awareness of bank activity is not increase with more corporate advertising.
  2. Customers awareness is not the most effective promotional tools in the marketing of bank service. Banks are not truthful in the corporate advertising?
  • Scope of the study

Through literatures have not been written on the topic corporate advertising as all effective promotional tools in the marketing of banking services. There is banking business the foundation of which is trust means that a bank can not afford to pay lip services will tend to be sough. The only way to stay in business is to move profit and corporate advertising help to achieve the profit goal.

Bank can only continue to make profit in so far as its public that it is deserves to continue its operation by corporate advertising generally seeks to achieve the following.

Definitions of terms

Bank:             this is an organization authorized by the central bank of nigeria [c b n]. Through the insurance banking license to accept deposit from members of the public as well as to carry out the banking business generally.

Banking:        banking can be said to be the business of receiving money from outside source as deposit irrespective of the payment of the interest and granting of money, loan and acceptance of credit or the purchase of bills and cheques or the purchase and sales of securities for the account of others or the incurring of the obligation to the acquire claims in respect of loans prior to their maturity or the assumption of guarantee and other warranties for others or the effecting of transfer and clearing and such other transaction are the commissioners may on the recommendation of the central bank by other published in the federal gazette designates as banking business.

Bank marketing: the creation and delivery of customers satisfying services at a profit.

Corporate advertising: this is advertisement focused on the creation of good image for the company in the minds of the public.

 

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