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Promotional Strategy In A Service Industry (A Case Study Of
Afri Bank Plc Enugu)
1
TABLE OF CONTENTS
TITLE PAGE
II
APPROVAL PAGE
III
DEDICATION
IV
ACKNOWLEDGEMENT
V
ABSTRACT
VII
TABLE OF CONTENT
X
CHAPTER ONE
1.1
Back ground of the study
1
1.2
Statement of problem
3
1.3
Objective of the study
4
1.4
Formulation of hypothesis
5
1.5
Significance of the study
6
1.6
Scope of the study
7
1.7
Limitation of the study
7
1.8
Definition of terms.
7
CHAPTER TWO
2.1
literature review
10
2
2.2
service an overview
10
2.3
characteristics of service
11
2.4
can over view of marketing –
promotion for services
2.5
promotional mix variables
2.6
advertising
16
2.7
personal selling
19
2.8
sales promotion
21
2.9
direct marketing
23
2.10
public relation and publicity
24
2.11
importance of marketing promotion
26
2.12
evolution of promotional strategies
28
CHAPTER THREE
3.1
research design and methodology
30
3.2
population of the study
31
3.3
sample techniques
31
3.4
research instrument used
31
3.5
sample size determination
32
3
3.6
method of data treatment and analysis
35
CHAPTER FOUR
presentation analysis and interpretation of data37
testing of hypothesis
60
CHAPTER FIVE
Summary of the finding recommendation and conclusion.
Summary of findings
65
Recommendation
65
Conclusion
67
Bibliography
69
4
RESEARCH PROPOSAL
TOPIC
Promotional strategy in a service industry a case study of Afri
bank PLc
OBJECTIVE OF THE STUDY
The research will here in state the objective to be accomplished
through the study. The extent to which
the study meets the
objective determines the success of the project work.
Formulation of hypotheses in the envisaged
study, four
hypotheses would be formulated to give focus to the study.
SIGNIFICANCE OF THE STUDY
The different target group to which the study will be beneficial will
be clearly stated.
SOURCESS OOF DATA
Data from the study will be sourced from two main sources.
Primary data and secondary data
PLAN FOR THE REVIEW OF RELEVANT LITERATURE
5
The research here will conduct liberty research on text books
journals, magazines and other publication & related topic to the
one under study. He review will be stated in sub-heads
METHODS OF DATA COLLECTION
The method of data collection in the envisaged study will involves
face to f ace distribution of copies of questionnaire
of the
customers and the staff of the case organization. The researcher
will give out the copi8es and allow one week filling period after
which he will collect the now filled copies for analysis.
THE RESEARCH INSTRUMENT USED
The research instrument to be used in this study will be
questionnaire. The questionnaire will’ contain both close and open
ended questions
METHOD OF DATA TREATMENT AND ANALYSIS
Simple statistical table frequencies and percentages will be used to
analysis the data collected while square will be used in testing the
hypothesis.
6
NAME: ENWEREUZO CHIGOZIE
REG NO: MK/H202/147
1.
marketing of airline service a case study of executive
airline service EAS
2.
increasing customer patronage of marketing service
through effective application of marketing concept. A case
study of U B A
3.
promotional strategy in a service industry a case study of
Afribank
7
CHAPTER ONE
BACKGROUND OF THE STUDY
One of the fillers of marketing id the provision of good and
service to satisfy the needs and wants of the consumer at a
profit to the satisfacus of the consumer or customer is the focus
of marketing making price it right, distributed it well and position
i.e. to best meet the needs of customers, you must have wasted
all the marketing skills if nobody knows you have done these.
Your customer will only know through promotional activities.
It becomes imperative that firms must not only create high
quality goods that meets the expectations of the target market
but tell success stories, that is , disseminate information about
the product attribute and benefits to the target market.
Engle (1983:16) defines promotion as a controlled integrated
programme of communication method and materials designed
to present a company and its products to prospective customers
to communication need satisfying attributes. Promotion is a vital
ingredient of survival and development, without adequate
8
promotion product may not sale, where they sell their continuity
is in doubt . no wonder much of the budgets of some companies
is spent on promotion
However,
this
may
involve
determine
the
optional
combinations of the promotional mix,
Advertising, sales promotion, personal selling, public relation
publicity to achieve it’s promotional objectives.
According to onal and Nnolim (1998:9) decisions with these
components of promotional mix should be consistent with other
variable mix in order to accomplish the objectives of any given
organisation of the company including banking industries,
manufacturing industries and the producers of goods and
services are were that promotion does only inform or persuade
but can strive towards profit making through increased sales.,
there is a lot of competitions in the banking industries, and this
is affecting the patronage of Afribank. Many firm today have
seen that promo tools serves as a supremacy vehicle of
competition.
9
Meanwhile, it is because of the importance of promotion not
only as a tool for informing the company that the researcher try’s
to examine promotional strategy in a service industry a case
study of Afribank.
1.2
STATEMENT OF THE PROBLEM
In as much as the world is dynamic, things
changes every
passing day competition was not so intensive among business
some years ago. But today because every business wants to be
at the top of the ladder, so many developments have arisen.
This has lead
to tremendous technological innovations like
commuters, cell phones, automatic machines and many others.
The business sector devised several means to market their
products and service to achieve a manful results. This manifests
itself as many organisations now embrace on milliohm Naira
advertising
campaign,
training
of
high
rate
salesman,
modification of their products, innovations in service rendering
all are aimed at matching with the chafing trend are to provide
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products/ services that can withstand competition and enhance
profitability.
Therefore the problem of most banks with especial reference
to Afribank is that they do not really know the implications o poor
promotional message in their effort to market bank products/
service. And this study intends to elucidate those things
especially as it affects Afribank PLC.
1. Is the customer influenced by the any promotional strategy in
the patronage of banking service?
2. do customers receive the promotional message effective
form any specific medium?
3. do other service factors such as bank charges, availability of
service and quality of service influence customers patronage of
Afribank? These and many more forms the task of this research
work.
1.3
OBJECTIVE OF THE STUDY
The purpose of this research work is as follows
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1.
To find out if the product promotion affects customer
patronage of bank service.
2.
To measure the effectiveness of advertising in creating
awareness of bank services.
3.
To determine whether promotional strategy used by
Afribank increases customer patronage.
4.
to evaluate the promotional strategies of Afribank in
increasing profitability
5.
to measure the impact of persona selling strategy on the
marketing of bank services
6.
to recommend promotional measures to improve on the
performance of Afribank.
1.4
HYPOTHESES OF THE STUDY
The following hypothesis have been formulated in other to
ensure in objective analysis of the study.
1.
Hoi: consumers are satisfied with the quality of service
rendered by Afribank
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Hoi: consumers are not satisfied with the price chare of Afribank
services.
2.
Hoi: consumers are not satisfied with the price chare of
Afribank service
HO2 Hoi: consumers are satisfied with the price chare of Afribank
service
3. HO3: Afribamk is readily and accessible in their service
offering to consumers.
HO3: Afribamk is not readily and accessible in their service
offering to consumers.
1.5
SIGNIFICANCE OF THE STUDY
The importance or significance of the study cannot
be overemphasized. The researcher believes strange that this work
will serve as a reference point and consultative material to other
banks and would be most effective and
efficient promotional
strategy to adopt, so as to enhance customer patronage of
Afribank services.
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It will equally be if great benefit to readers and researchers
as it may farm a base for further research an moreover it will widen
their scope of understanding and knowledge in promotion
SCOPE OF THE STUDY
This study under took an in-depth look at the effectiveness of
promotional strategies in industry. Again the study was limited to
Afribank operation within Enugu metropolis. Questionnaires were
distributed and collected from marketers and consumers of
Afribank PLC in this area
1.7
DEFINITION OF TERMS
LIMITATIION OF THE STUDY
A lot of constraints have limited the scope of this study, some of
them are.
1. FINANCIAL CONSTRAINTS inadequate financial resources
is a limitation to this work be cause nwney is required in almost
every aspect of this work.
2. DISTANCE: this is another factor, there should be adequate
designed time because the research have to be in the particular
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place of research to get respondents to enable the research
progress
3. TIME CONSTRAINTS: limited time to execute this study
comprehensively is one of the limitation of this study, adequate
time for deserting this project should be properly considered for
the effective smoothing of this work.
4. inadequate co-operation of consumers: this is another
hindering along to enable appropriate research work in the
aspect of questionnaire, if the consumers refuse to comply in
corresponding flimsy excuses like time there will be problem.
1.8
1.
DEFIINITION OF TERMS
promotional strategy: it is a controlled integrated programme
of communication method and materials designed to present a
company and its products to prospective customers.
2. Advertising : a marketing functions of making know what we to
sell or buy. It presents the most persuasive possible selling
massage to be right prospective for the product or service at the
lowest possible cost. More so, advertising must use identifies, it
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must not be personal it must use the maze media and it must be
paid for.
3 sale promotion: this consist o all the activities aimed at
promoting immediate sale. It is designed to achieve fast sales or
consumer repose.
4.
personal selling : face to face interaction with one or more
prospective purchase
for the purpose of making presentation,
answering questions and producing orders.
5.
direct marketing: this consists of direct communications with
carefully target individual consumers to both obtain an immediate
response and cultivate lasting customer relationships.
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