ABSTRACT
This research
work is on the impact of advertising in the marketing of banking services. This
work was carried out in order to determine the impact of advertising in the
marketing of banking services using Micro Finance Bank Plc Oko as a case study.
As a matter of fact, financial industries are banks and other insurance firms.
Advertising
can be defined as any paid form of non-personal presentation and promotion of
ideas, goods or services by an identified sponsors. This look at the various
types of advertising that is required for the success of the service in the
market.
In the
first chapter, the researcher defined what a micro finance is and its operation
in Nigeria.
In the same chapter the researcher stated the research problems, the objectives
declaring his intentions for carrying out this survey. Continuing the research
also explained the significance of the study and eventually stated the research
hypothesis, which was also tested and proves that the researcher analyzed data.
The
second chapter has to deserve it traces down explaining how versatile the
contribution of the advertising has been in the world economic developments.
Following it up comes the literature works of eminent scholars their views were
used to back up the personal and arguments.
The
chapter three is headed with the research design and methodology. The sample
take for this study revolves around 30 people. The researcher also reflected
here the percentages table and chi-square were used too for description of data
analysis and hypothesis testing.
In
chapter four were the presentations and analysis of data. The researcher
consider its important, to test the four hypothesis at this stage, also
solutions to the problem was found. Findings also were made which the firm
should consider.
Chapter
five, shows the summary of the research findings, recommendation gearing that
advertising help to build up firms good services or ideas.
TABLE OF CONTENTS
Title page i
Approval ii
Acknowledgement iii
Table of
content v
Abstract xi
CHAPTER
ONE
INTRODUCTION 1
1.1
Background of the study 3
1.2
Statement of problem 5
1.3
Purpose of the study 6
1.4
Significance of the study 7
1.5
Assumption of the study 8
1.6
Research questions 9
1.7
Hypotheses 10
1.8
Definition of terms 11
CHAPTER
TWO
2.0
Literature Review 13
2.1
A Brief introduction 13
2.2
Review of current literature 13
2.3
Summary of literature review 32
CHAPTER
THREE
METHODOLOGY
3.0 Brief Outline of the chapter 33
3.1
Design of the study 34
3.2
Area of the study 34
3.3
Population of the study 35
3.4
Sample of the study 35
3.5
Instrument for data collection 36
3.6
Validation of the instrument 37
3.7
Distribution and retrieval
of the instrument 37
3.8
Method of data analysis 38
CHAPTER
FOUR
DATA PRESENTATION AND ANALYSIS 39
4.0 Brief Introduction of the chapter 39
4.1
Presentation and interpretation of
data according to research questions and
hypothesis 40
4.2
Findings 60
4.3
Discussion of findings 61
CHAPTER
FIVE
5.0 Summary, Conclusion
and Recommendation 76
5.1
Summary of findings 76
5.2
Conclusion 77
5.3
Recommendations 78
5.4
Limitations of the study 79
5.5
Suggestion for further research 79
References 81
Appendix A 83
Appendix B 84
Questionnaire 85
CHAPTER ONE
1.0 INTRODUCTION
ADVERTISING AND BANKING INDUSTRY
(MICRO FINANCE BANK)
Banking are economic decision units that
are set up for the provision of financial services and products to targeted
market. This service tendered to both public and private sector of the economy
includes: collection of deposits, clearing of cheques and other exchange,
granting of loans and over drafts guarantee of joint financing by two or more
banks foreign exchange transaction, fund transfer and insuring drafts services rendered
include safe keeping facility and financial advice to customers.
The operation of micro finance bank
initially community bank were perceived to be incorporated for efficient
sustainable economy. Micro finance bank help to provide financial assistance
and credit to its customers, including formal and informal self – help groups,
individuals and association: except public sector deposits from government
agencies.
To this end, micro finance bank have to
come up with more efficient and effective services for example, full-fledged
computerization becomes the order of the day, processing of loans and advances
reduction in member of clearing day for clearing instrument.
However, to communicate these services
effectively in enhancing profitability the need for advertising in Micro
Finance bank becomes inheritable. Advertising which until this time had little
or no significance in the banking industry becomes strong information and
persuade tool to reach target customers.
1.1 BACKGROUND OF THE STUDY
Advertising is one phrase that has been
given different definitions by authors. A critical analysis of all the variable
definitions shown that they have something in common.
Talking about the importance and
relevance of financial services in every one’s life. This includes ordinary
life circle events like, birth, marriage and deaths; it also includes the
possibility to invest, to increase our wealth.
Micro finance target people who do not
have access to the formal financial sector and are under-banked at the moment.
This affects not only their economic activities but also improves their health,
education and living circumstances. In the end, the overall objectives are to
elevate poverty.
The practice of micro finance is not new
and has probably been around for as long as currency itself has. Informal
credit and savings services probably formed around social services where the
members got together to help one another as a community. Savings and credit
groups that have operated for Centuries include the “Susus” of Ghana, “Chit
fund” in Idia, “Tarda” in Mexico, “Asian” in Indonesia, “Cheetu” in Sri Lanka
tontines” in West Africa, and “Pasanaku” in Bolivia
1.2 STATEMENT OF THE PROBLEM
Generally speaking, the use of
advertising is cost effective for promoting, bank services. Most crises, even
executives in services firms see advertising as a massive waste and neglect its
need when assessed against results.
There is also argument that advertiser
designed to indulge customer against their wish. It is further argued that successful
firms use heavy advertising to create a barrier to entry of smaller firms, to
these successful firms gain monopoly of the market. These advertising view and
crusade do not see the need for advertising in organization and the economy as
a whole. These and some other problem are what the researcher set out to solve.
1.3 OBJECTIVE
OF THE STUDY
The researcher intends to find out the
following:-
- Whether advertising is important to
banking services especially micro finance bank Oko branch, Anambra State.
- Ways of improving the present use of
advertising by micro finance banks.
- Media
selection factors
- The
best of combinational mix appeals.
- What
makes customer to patronize the bank.
1.4 SIGNIFICANCE
OF THE STUDY
This
research work will be great relevance and benefit to various categories. First,
the banking industry, particularly the bank under the study can access the
application of advertising to a service organization, like in view of new land
on the industry, competition being a top phenomenon, and secondly, customer,
which form the bedrock of any business is also taking into account in the
research. They too will benefit as reaching them with the right combination of
advertising programme action and result message sill stimulate action and
result in the desire satisfaction they seek to derive from the industry.
Thirdly,
lectures, students will derived maximum benefit from this research as the
member of brokers and literature available looks scanty.
1.5 ASSUMPTION OF THE STUDY
These problems placed limitations on the author,
though; they did not permanently render the study success. Thus areas the
following assumption regarding the investments:
i.
That the
respondents cooperated by giving the required information
ii.
That the
responses to the questionnaires were to the best of the respondents knowledge
true and accurate.
iii.
That the head of
the marketing unit or the bank has adequate knowledge of the banks marketing
practices.
iv.
That the
responses to the questionnaires in the branches chosen were representatives of
the other branches not student.
1.6 RESEARCH QUESTION
i.
What is the customers knowledge of the product or
service in terms of its features?
ii.
What is the degree of awareness of the product service
or advertising campaign we have invested in?
iii.
How acceptable is the advertising to the consumer?
iv.
What is the image of the product or service in terms
of whether the advertising has strengthened or weakened its image?
v.
What is recalled and it is essential in providing the
customers with the relevant reassurance?
vi.
Which aspects of the communication messages persuade
the consumer to buy the product or use the company service?
1.7 HYPOTHESIS
Null hypothesis:
Ho: The use of advertising does not
enhance the quality of services to your business
Hi: Advertising enhances the quality of
services to your business.
Ho: Workers effort is not justified with
advertising.
Hi: Advertising justified the effort of
workers
Ho: The use of advertising does not
reduce cost in financial industry
Hi: The use of advertising reduces cost
in financial firms.
Ho: efficiency does not measure the
advertising services
Hi: efficiency measures the advertising
services.
1.8 DEFINITION OF TERMS
IMPACT: According to Longman Advance Learners
dictionary of contemporary English defines impact as the effect or influence
that an event, situation e.t.c. has on someone or something.
ADVERTISING: Defined as non-personal
form of communication, presentation and promotion of ideas, goods and services
by an identified sponsor.
BANK: This is an organization that comes
out business of banking such as keeping money and lending services.
MICRO FINANCE: Financial institution
that receives savings and giving of loans or credit to SME at a small interest
rate.
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