ABSTRACT
This study explores the impact of
advertising on the marketing performance of banks, with specific reference to
Access Bank Nig. Plc. The main objective is to examine how advertising
influences the profitability, market share, and sales volume of the bank.
Using survey methodology, data was
collected from a population consisting of staff and management of Access Bank
Nig. Plc., totaling 152 individuals. A sample size of 110 was determined using
Taro Yamane’s formula.
Data analysis was conducted through simple
regression analysis to assess the relationships between advertising and
marketing performance metrics. The findings indicate positive perceptions and
attitudes among customers towards Access Bank's products, with advertising
recognized as a crucial promotional tool. Various advertising media such as
television, newspapers, and posters/billboards were utilized by the bank,
contributing to its marketing efforts.
Regression analysis revealed a
statistically significant positive impact of advertising on the marketing
performance of Access Bank Nig. Plc. This underscores the importance of
sustained advertising efforts in building corporate identity, creating
awareness, and enhancing marketing performance.
In conclusion, advertising plays a pivotal
role in shaping the marketing performance of banks by implanting corporate
images and increasing product awareness. Access Bank Nig. Plc. should maintain
its current advertising strategies while considering expansion into additional
media channels such as radio and the internet. Regular evaluation and research
are recommended to ensure the effectiveness of advertising strategies,
targeting both current and potential customers, especially the younger
demographic.
These findings offer valuable insights for
Access Bank Nig. Plc. and other commercial banks, emphasizing the significance
of strategic advertising in achieving marketing objectives and fostering
customer engagement. By implementing the recommended strategies, banks can
strengthen their advertising efforts, enhance brand perception, and ultimately
improve marketing performance in a competitive banking landscape.
TABLE
OF CONTENTS
CHAPTER ONE
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 Hypotheses
1.6 Significance of the Study
1.7 Scope of the Study
1.8 Limitation of the Study
1.9 Definition of Terms
CHAPTER TWO
REVIEW
OF RELATED LITERATURE
2.1 Meaning and History of Advertising
2.2 Features of Advertising
2.3 Objectives of Advertising
2.4 Importance of Advertising
2.5 Types of Advertising
2.6 Active People in Advertising
2.7 Classification of Advertising
2.8 Elements of Advertising Communication
2.9 Role of Advertising in Marketing Mix
2.10 Role of Advertising in Society
2.11 Determinants of Advertising Media
CHAPTER THREE
RESEARCH METHODOLOGY
3.1 Research Design
3.2 Area of the Study
3.3 Population
of the Study
3.5 Methods of Data Collection
3.6 Data Analysis Technique
3.7 Model Specification
CHAPTER FOUR
PRESENTATION AND INTERPRETATION OF
RESULTS
4.1 Socio – Demographic
Characteristics of the Respondents
4.2 Responses to the Items on
the Questionnaire
4.3 Presentations of Empirical Results
CHAPTER FIVE
SUMMARY, CONCLUSION AND
RECOMMENDATIONS
5.1 Summary of Major Findings
5.2 Conclusion
5.3 Recommendations
REFERENCES
APPENDIX:
QUESTIONNAIRE
CHAPTER ONE
INTRODUCTION
1.1 Background of the Study
Advertising is as
old as civilization and has been used as the means of communication to buy and
sell the goods and services to the society. Advertising is an important tool of
promotion that can create wonders with beautiful words to sell products,
services and also ideas Frank Presbrey (2011).
Advertising is a
powerful communication force and vital marketing tool helping to sell goods,
services, images, and ideas through channel of information and persuasion. Advertising is used for communicating business
information to the present and prospective customers. It usually provides
information about the advertising firm, its product qualities, place of
availability of its products, etc. Advertisement is indispensable for both the
sellers and the buyers. However, it is more important for the sellers. In the
modern age of large scale production, producers cannot think of pushing sale of
their products without advertising them. Advertisement supplements personal
selling to a great extent. Advertising has acquired great importance in the
modern world where tough competition in the market and fast changes in technology,
to find fashion and taste in the customers. The message which is presented or
disseminated is called advertisement.
American Marketing
Association (AMA) has defined advertising as “any paid form of non-personal
presentation of ideas, goods and services by an indentified sponsor”. The AMA points out that advertising is a tool of
marketing along with the product and its packaging, price, distribution and
personnel selling.
In the present
day, marketing activities hardly take place without advertising and it brings
response by providing the vital information to potential customers by trying to
modify their desires and supplying reasons they should prefer that particular
firms product or service.
According
to William J. Stanton, "Advertising consists of all the activities
involves in presenting to a group, a non-personal, oral or visual, openly
sponsored message regarding disseminated through one or more media and is paid
for by an identified sponsor." Communication between firm and it target
customers is known as advertising.
With the
aids of advertising, a firm’s customers find and buy necessary product or
service without much waste of time and which makes to perform very well
financial and otherwise. This speed up the sales performance increases the efficiency
of labour in distributing and diminished the cost of selling.
Advertising
is the most visible element of the communication mix because it makes use of
the mass media such as newspaper, television, radio, magazine, bus hoardings
and billboards Kotler and Adeleke (2002). Mass consumption and geographically
dispersed markets make advertising particularly appropriate for products that
rely on sending the promotional messages to the public.
1.2 Statement
of the Problem
Banks,
companies or firms set a specific targeted audience which they have to achieve
in order to improve in marketing performance. In this case, advertising plays a
vital role in the area of firms’ performance by educating and informing the
general public about the improvement of goods and services that have been taken
place. Such services are rendering in order to achieve the targeted audience.
Marketing problems like tough competition, inefficient and ineffective
marketing communication, lack of market research, have far researching negative
effects on banking sector and if such problems are neglected, they can cause a
great threat to the area of advertising as an aspect of marketing
communication. Mejeha, Adindu(2014), citing Giles (1997).
Advertising
as a business promotional tool has been badly neglected in Nigeria banking
industries as most managers in the banking industries belief that their
products or services can survive without advertising. In most cases, few
banking industries that advertise their products or services do not see reasons
to study how the target audience perceives their products and the media adopted
in disseminating the information.
Some firms apply
improper advertising strategies which stop them from getting new customers.
While some neglect advertising agencies which handle advertisement properly.
Moreover, today some banking industries their advertisements are not
motivating, encouraging and attracting customers.
1.3 Objectives
of the Study
The main
objective of this study is to examine the impact of advertising on marketing
performance of banks in Abia State with reference of Access Bank Nig. Plc. The
specific objectives are:
1.
To ascertain the impact of Advertising on
profitability of the bank.
2.
To determine the impact of Advertising on the market
share of the bank.
3.
To empirically investigate the impact of Advertising
on sales volume of the bank.
1.4 Research
Questions
These are
well structured questions designed to guide the researcher in data collection
and whose answers provide solutions to the problems under investigation Moses, (2014).
The following are the research questions that will be use as the guide to
ascertain the objectives. These questions are:
1.
What are the impacts of Advertising on profitability
of the study bank?
2.
What are the impacts of Advertising on the market
share of the study bank?
3.
To what extent
does advertising affect sales volume of the bank?
1.5 Research
Hypotheses
The
following are the hypotheses that are of interest in this research project.
Ho1: Advertising has no significant
impact on profitability of the bank.
Ho2: Advertising has no significant
impact on market share of the bank.
Ho3: Advertising has no
significant impact on the sales volume of the bank.
1.6 Significance
of the Study
As the
firms make efforts to enhance sales volume, they must adopt effective and
efficient advertising strategy as the veritable tool to enhance customers’
performance which leads to greater sales volume. This study will show the
benefits firms can gain when adopting effective advertising strategy. The tangible
result is expected if effective advertising strategy is employed. It will
outline some unique features of advertising, its forms, importance and roles to
the firms. This study will help the firms to know the decision to make in
advertising and mention the group of people that are actively involved in
advertising. This study will be helpful to both business firms and academic
researchers.
However,
firms will appreciate this study; this is because it shall be a guide to them
in selecting good advertising techniques that will be helpful to them and
people’s perceptions and attitudes about the products. For the academic
researchers, this study will also be a greater benefit to researchers who which
to carry out further researches about this study.
1.7 Scope of
the Study
This
research study covers the impact of advertising on marketing performance of
banks in Abia State “using Access Bank as a case study”. The bank used in this
study is known to have the best advertising technique that attracts and informs
customers about firms’ services. The services this bank renders are saving of
money, giving of loans, keeping of valuable items and insurance service which
are of greater benefits to the public and private sectors.
1.8 Limitation
of the Study
1. Financial: This was a
barrier encountered during this research study. In this case, there was little
money for the researcher to cover all the requirements of this study.
2. Time
factor: The time
allowed for the completion of this study clashed with academic activities.
3. Bad
attitude of respondents: Some respondents find it difficult
to disclose their relationship with the bank and level of performance during
this study.
1.9 Definition
of Terms
Marketing
research: The systematic design, collection analysis and reporting of
data relevant to a specific marketing situation facing an organization Kotler
and Armstrong (2011).
Services: These are
products of intangible nature which profit and non-profit establishments offer
to satisfy human needs and wants Raymond,(2013).
Impact: the
powerful effect that something has on another (Oxford Advanced Learners
Dictionary).
E-finance
(electronic finance): This involves discharging financial service
transactions electronically or through the computer driven technology Raymond (2013).
Advertising: This is
regarded as any paid form of non-personal presentation of goods, services or ideas
by an identified sponsSor Kotler and Armstrong (2011).
Bank: A place
where money is kept and transaction of other businesses takes place.
Channel: Any medium
through a message can be sent to a receiver including oral communication, print
media, television and internet (Business Dictionary).
Service
quality management: Delivery of consistent and high quality service more
efficiently than the competitors Raymond Obasi (2013).
Click “DOWNLOAD NOW” below to get the complete Projects
FOR QUICK HELP CHAT WITH US NOW!
+(234) 0814 780 1594
Login To Comment