CORPORATE ADVERTISING AS AN EFFECTING PROMOTIONAL TOOL IN THE MARKETING OF BANKING SERVICES

CHAPTER ONE

1.0  INTRODUCTION

1.1     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.

1.2     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.

1.3     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.

1.4     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.

1.5     RESEARCH QUESTION

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

a.            Do bank advertise from head office?

b.            Are bank truthful in their corporate advertising?

c.             Does corporate advertising influence the customer’s choice of bank?

d.            Which of the promotional tools is the most effective for bank marketing?

e.             Does corporate advertising by banks’ increase their customer’s awareness?

1.6     HYPOTHESIS

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

a.      The Customers awareness of bank activity is not increase with more corporate advertising.

b.      Customers awareness is not the most effective promotional tools in the marketing of bank service. Banks are not truthful in the corporate advertising?

1.7     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 Gazett 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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