TABLE OF CONTENT
TABLE OF CONTENT
STATEMENT OF THE
OBJECTIVES OF THE STUDY
SIGNIFICANT OF THE
DEFINITION OF TERMS
PLAN ORGANIZATION OF
OF SKY BANK PLC
THE NEED FOR
ADVERTISING FOR THE BANKING INDUSTRY
SOURCES OF DATA
METHOD OF DATA
TECHNIQUE OF DATA
INTERPRETATION OF DATA
BACKGROUND OF THE STUDY
human approaches 21st century with it owe-inspiring problems and
opportunities company’s institutions and nations continually centre their
attention on the growth of marketing sectors. In the years gone by there had
been agrarian economy where people were self sufficient. With time however,
division of labour set n contemporary society have now evolved specialized
sectors as the banking sector the focus of this research work.
immense of marketing in the banking sectors has for long been obvious what more
there in Nigeria content with the coming of colonials along with their European
culture featuring the establishment of African Banking Corporation in 1892.
Then, it was shouldered with the function of distributing England notes (pounce
sterling) in 1894. Commercial Banking activities began when Bank of British
West Africa (BBWA) now First Bank of Nigeria Plc began operation in Lagos.
Among many other banks that commence they were bank of America also known as
Savana Bank then before liquidation as is well as Skye Bank Plc.
From the onset
these banks have to rival the pre-existing traditional institution using. The
fad of that time was News paper and radio which gave these banks competitive
over the traditional institutions of using via advertisement. This seems a form
of marketing communication to stimulate sales.
At this point,
the emphasis of the pre-dominance of banks and other related financial
intermediaries as commercial banks mortgage institutions e.t.c. is quite
observable in any economic development of importance arc the laudable role they
play in saving mobilization and surveyors of credits like every other business
enterprises, they as well parade some product and services ‘which contribute to
the economy of any country.
PRODUCT RANGE INCLUDES:
- Personal Loans
- Overdraft Loans
- Project Finance
- Loan Syndication
- Share loan Scheme
- International Banking
- Dominance Accounts
- Specialized Schemes
- Agricultural Finance
- Housing Loan Schemes
- Warehouse Finance
In as much as
bank keep on offering their products and services they need to undertake
special efforts to inform and persuade potential market towards patronizing in
their favour. However, the evolving circumstances have posed many challenges on
banks management. In the 1970’s the idea of rural banking scheme laws
introduced by the Central Bank to discourage the inclination of banks toward
urban orientation during the course to the ripple in the sake of this policy,
the market place ‘was stirred by aggressive selling through serious
advertisement medium undertaken by banks then Radio took the lead in the
different media because of its fastest reach than other in rural areas.
It was not until
the 1980’s and afterward that marketing made its full entrance into banking
operation in Nigeria the Federal Military Government put up failed bank noted
as well that the introduction of SAP Structural Adjustment Programme in 1986
played a positive role in increasing the number of banks, the reason is in the
objectives of SAP, for its desire was to deregulates the economy and achieve
economy recovery through the interplay of monetary satiable like money supply,
interest rates etc hence by 1997. the number of licensed banks had gone up to
120 (excluding the development of specialized banks like NIDC, NBCI, NACB) the
people banks finance houses e.t.c observable in this step increase in banks
number is the entrance of new generation banks. Therefore, with this high
number of stiff competition becomes the plight of banks.
big four had their domination, United Bank for Africa, Union Bank, First Bank
and Skye Bank changed offered cheque encashment, saving deposit e.t.c and high
tech marketing communication of course their regulations were inter put up but
already the wheels of high tech advertisement has been set rolling and the role
it plays, as marketing communication medium is immeasurable. Actually,
advertisement is regarded as the marketing press visible feature in any form of
non-personal presentation of product service or ideas by an identical sponsor
is referred to as advertisement. These advertisement could either be on Radio,
Television, Newspaper, Magazines, Billboard e.t.c. it can further be said that
advertisement is investment which is properly conceive and executed that bring
STATEMENT OF THE PROBLEMS
business and the banking industry generally faced with certain problems in
marketing their banking services. Among these problems are:
Low quality product
(service):- the quality so services provided by the financial institutions
(banks) these days are very low quality.
activities:- promotional activities like advertisement and publicity are still
lacking people have not been quality enough on packages available from these
users of the services of the bank usually consider the prices charged by these
institutions for their services not appealing.
1.3 RESEARCH QUESTIONS
The focus of
this topic is to identify the effects and role of advertisement in Nigeria
Banking Industry. Hence in the cause of the study effort has been made to find
solution to the following problem.
1. What is the historical
background of role and advertisement in Nigeria banking industry?
2. What are the developments of
3. What are the main purposes of
4. What are the various advertisement
5. What are the implications for
the banking industry?
1.4 OBJECTIVES OF THE STUDY
The starlight of
this research study is focused on the role played by advertisement stimulating
demand for bank service and related products. It is on the premise of marketing
communication that this study precedes. Actually banks adopts the concept and
practices of marketing the quality of promotional communication to the market
increase media base expands message context changes and responsibility for bank
communication tends to rest with specialist.
globalization of business activities around the world the banking industry face
more challenges the industry has been involving a number of strategies in order
to effectively manage market and improve its banking service getting increasing
tense that business organizations are seeking to gain the attention and
ultimately the patronage of customer/customers.
and the banking industry generally in Nigeria has witness some changes and or
improvement in the nature scope structure and method of doing business more so
in the past two decades. Similarly the banking public for services all these
changes have impliedly brought about new culture altogether from this premise
the following underlined the motive of this study
How to identifying the
various types of advertisement applicable in marketing communication in banking
appropriate of advertisement and its chose types of the basic business mission
which shapes and guided their strategies actions.
advertisement strategies considering the variable in the market environment
predominant in the issues.
From the above,
the study shall be useful to the extent that it will help marketers to
determine expected sales return from advertisement expenditures. As well it
shall assist in the determination on appropriate marketing mix that optimize
sales and reduces marketing expenditure more so, considering the extent to
which advertisement is intended to.
The general hypothesis that will be
tested in the course of this project is as follows:-
Ho: The Roles of advertisement has
no correlation with profitability and efficiency in Nigeria banking system.
Hi: The Roles of advertisement has
correlation with profitability and efficiency in Nigeria banking system.
SIGNIFICANCE OF THE STUDY
will examine the significant of this study in respect to surrounding
circumstances. Noticeable light will be throw on such issue how does
advertisement add to good and service the increasing interference of government
as a shareholder in banks and their operation e.t.c
In the recent
past precisely the past decade the banking industry has been witnessing a
transition from being provides of a limited range of customer and specialist
service such as current and saving account in banks to a broader provision of
financial services. Hence, there has been a convergence of the laps and range
of financial services which they promote and sell; universal banking and
ordinance enacted by federal government gives legal banking to this hence the
competition in the wake of this de development as merchant bank now introducing
and marketing services initial the domain of commercial banks such as IMB’s
Diamond fund and
NAL’s previous earning paper (PEP) this development points to one thing that
banks especially commercial banks have to be innovative and responsiveness
hence the new trends of separate marketing department with efforts concentrated
on marketing communication advertisement.
environment especially banking business of today is changing very fast, it is
demanding for more profits improve customer’s turnover of its teen resources as
well as setting vision of breakthrough performance in competitive environment.
The conclusion significance attributable to this study
Is the imperative application by
which government ensures conformity to guidelines as stated by Central Bank of
Nigeria emphasis of the need for a study of advertisement in case study of this
research discuss is strictly adherence to this regulation.
SCOPE AND LIMITATION OF THE STUDY
The scope covers
marketing department to know how to generate more income to the bank through
the advisement also the aims and objective of the study make us understand how
important is the advertisement in Nigeria banking sector is important, if a
bank place on advert, it will make to have more customer and the customer what
is there in the banking services and it also encourage the customer to
patronized the bank
The scope of the
studs stretches the entire activities undertaken in the marketing department
within the range of marketing communication as of recent; banks are ruffling
over one another in establishing marketing department to oversee customers
patronage stimulation programme precisely, this study consist of five chapter
in which the chapter one considers background information of the study.
The aims and
objectives of the study is judiciously explained as well in first chapter
within the same chapter the scope of the study i.e. its limitation and
justification of the study were also discussed
Chapter two seek
to review the literature with respect to both published and unpublished
materials like Journal, textbook, Articles as other sources were also taken
into consideration of this area also cover the definition of advertising the
advert of marketing in banking industry as well as considering the event
promoting the need. All these concepts of advertisement message media target
market controlling factors are all clearly studied from the premise of the
study role of advertisement in banking industry.
methodology and its all tools of instrument of gathering relevant information
was introduced in chapter three. A details is taken on how the studs will
proceed either will be administered, effort is taken to highlight all the
aspect of its anal sis. Basically the sample design definition and selection
procedure for data collection measuring instruments and techniques for data
analysis are all explained before proceeding to chapter four where the analysis
w ill he taken
The chapter four
is the data analysis interpretation and discussion section in chapter four
here, the analysis of the data collected were analyzed, the analysis will be in
such way that it covers the view opinion and established fact from the employee
marketing department staff the intermediaries as in the case of agency relationship
and the customer. Intra as frequency reaches it cetera will be tested as to
choice of advertisement in checking the clearness appropriateness achievement
of the role played by advertisement in a medium of marketing communication.
five sums up the facts gotten in the summary of the data collected conclusion
and recommendations. Here the opinion and view will be propose from those
premises recommendation will be made.
This stated the
types of data to be collected on the sources. What instrument to be used for
data cot lee ii and data analysis. The topic is role of advertisement in
Nigeria banking industry with emphasis on sky Bank of Nigeria Plc. The
instrument to be employed to collect the primary sources which include
questionnaire and interview while secondary include text books, internet,
journal, current annual report etc.
The primary data
are obtained directly through face-to-face interview, observation and
questionnaire sampling, population are the staff and customer of Skye Bank Nigeria
Plc while both description and inferential statistics has been employed to
present and analyze the data collected.
DEFINITION OF WORDS
Advertisement is very important in used to communicate both with customer and
other business are the ultimate consumer of a product or if other business play
an important role in getting the product to the consumer. Advertisement can be
using media such as television, newspaper, radio and magazine is impersonal.
DEVELOPMENT: Economic development is very
importance are the laudable role that play in saving mobilization and surveyors
of credits like other business enterprises, the> also as “.sell parade some
product and services which contribute to the economics of the country.
FINANCE: Banks make some impact to contribute
their effort the agricultural finance, by keep on offering their product and
services they need to undertake special effort.
PLAN AND ORGAMSAT1ON OF THE STUDY
This spells out
the organization structure of the topic with a brief not or summary of what
expected in each chapter. it is divided into five chapters, each chapter
contain the following:
chapter one will
have the background of the study, statement of the research problem, aim and
objectives, justification for the study, scope and limitation of the study,
research methodology and organization of the study.
Chapter two will
treat theoretical framework meaning and historical background of advertisement
in Nigeria banking industry development of advertisement objective of
advertisement various advertisement media implication for the banking industry.
discusses brief history of the case study research methodology sample design
source of data procedure for data collection and techniques of data analysis.
centres on the data analysis interpretation and discussed data collection and
personal data analysis.
will discuss the findings, summary, conclusion and recommendations.