THE DETERMINANT OF CHOICE OF PROMOTIONAL MIX IN THE MARKETING OF FINANCIAL SERVICES IN NIGERIA (A CASE STUDY OF UBA)


THE DETERMINANT OF CHOICE OF PROMOTIONAL MIX IN THE MARKETING OF FINANCIAL SERVICES IN NIGERIA (A CASE STUDY OF UBA)  

ABSTRACT

Marketing activities cannot said to be complete a effectives if the consumer did not get the message or where the message did not reach the target audience (market) an effective message needs to pass across the market so that consumer will be aware of the company’s product, where the company is what exactly the company produce and benefit to be derived from using the products. No doubt consumers want satisfaction and the company needs to find all ways in satisfying the consumter that is why this is need to plan and check which of the promotional mix will be effectives for conveying message to the targeted market. Promotional mix can be explained as all strategy, ways, it may be through the following took: advertising, sales promotion, personal selling publicity and public relations, which ever close by a company have to delivered what the company’s what it to achieve and that is why one has to planned ahead in determining which are will be effective. In Nigeria financial services such as the bank and insurance home use different means in creating awareness and promoting their service because they are aware that they can not succeed by sitting down in their offices and expecting customer to come, so they use either personal selling or sales promotion in marketing sure customers patronize their bank. In course of determining the right choice to adopt, this study will evaluate the usefulness of promotional mix and agin carryout research by testing some hypothesis through either primary source or secondary source which means questionnaire will be relevant, hastly, the research work will deal with all promotional mix before choosing which one is most suitable for financial services.

TABLE OF CONTENT

Title Page

Certification

Dedication

Acknowledgment

Table of content

Abstract

CHAPTER ONE: BACKGROUND TO THE STUDY

1.1 Introduction

1.2 Statement of problems of the study

1.3 Aims and objectives of the study

1.4 Significance of the study

1.5 Scope of the study

1.5.1 Theoretical scope

1.5.2 Geographical scope

1.5.3 Industrial scope

1.5.4 Time scope

1.6 limitations and constraints to the study

CHAPTER TWO: LITERATURE REVIEW 

2.1 Review of past research reports on the subject matter (empirical review)

2.2 Review of braineral test (theoretical reviews)

2.3 Summary of review

2.4 Hypothesis formulation

CHAPTER THREE: RESEARCH METHODOLOGY

3.1 Research design

3.2 Data collection method/techniques

- Type of data collection

- sources of data

- Method of collection

3.1.2 Data presentation and analysis techniques (tools of analysis)

3.2 Sampling procedures

3.2.1 Definition of population

3.2.2 Sample unit

3.2.3 Sample frame

3.2.4 Sample size and distribution

3.2.5 Sample selection

CHAPTER FOUR: DATA PRESENTATION AND ANALYSIS

4.1 Brief history of case study

4.2 Analysis of problems (data presentation and analysis)

4.3 Hypothesis testing

4.4 Summary of findings

CHAPTER FIVE: SUMMARY, CONCLUSION AND RECOMMENDATION

Summary of report

Conclusion

Recommendations

Reference 

Appendix

CHAPTER ONE

1.1 INTRODUCTION

No one knows who you are, where you are, what you worth and what you have to offer until you tell, display or disclose your identity, and this can only be achieved through an effective promotional strategy promotion here helps to communicate and disseminate necessary information about a firm, its operation and its offering to the targeted market or customers.

Product planning, pricing and distribution are marketing activities that are performed mainly within the company or between the company its “partners” however, through its promotional activities, to beat the drum about its product the purpose of the study is to deal with the management and the determinant of promotional mix variable that is the combination of advertising, personal selling, sales promotion and publicity and also public relations used to reach the goals of the marketing programs.

A company’s total communications is marketing mix also called its promotional mix consists of specific blend of advertising, sales promotion, personal selling and direct-marketing tools that the company use to pursue its advertising and marketing objectives as postulated by Philip motler and Gary Arnstrong (2006).

Promotion is highly required in order to market financial services because this section has become highly competitive nowadays that they need to embark on aggressive promotional activities to position than selves in the mind of the consumes promotion of financial services differs from physical goals in learns of total marketing program and the media-mix that is used. The clence of media-mix to advertise or promote financial services must be those ones that have staying power that is such message that will be imprinted in the memory of psycho of the prospective customer advertising, sales, promotion, public relation, worth of marth, direct mail, persimmon marketing are all promotional mix that can simply be employed or combined in the marketing of financial services product.

1.2 STATEMENT OF PROBLEM

In almost every banking or financial organization the choice of promotional mix variables account for a large proportion of their operations. It has a strategic role to play in the economic development of industrial less advanced relations. Economic like ours (Nigeria) and remain important in the economy of the more highly important in the economy of the more highly industrialized nations.

However financial organizations (banks mostly) are finding it difficult to choose from the promotional mix variables that one is most fitting and that helps in efficient and effective operation and realization of the firm’s objective. The problem areas hold to the fact that some of the firm fail to take into consideration those possivle factors that determines the choice of promotional mix variable that helps to compare the operations and activities of the firm with the variables choice to know the one that fits the firm.

Also considered here is the financial strength of the firm which claims to be one of the factors that determine the choice of promotional mixes it determines the amount of capital appropriated to promotion department, sector or budget in the organization.

1.3 OBJECTIVES OF THE STUDY

The main purpose of this study is to deal with the management of promotional mix variables in the financial (Banking sector as it helps to aid and increase performance, taking the united Bankd for Africa as a case study.

Also aim to identify and highlight factors that determine the firm’s choice of promotional mix in the marketing of their services (i.e. financial services problem)

And also to look into the future-anticipate, forecast and predict the future stand of the united bank for Africa in the market place, to make appropriate recommendation for efficiency and effectiveness in operation

1.4 SIGNIFICANCE OF THE STUDY

This research work would be of importance to many souls who are interested. This importance would include the following.

1. It would serve to bring to know the importance and the effect of promotion or communication in the marketing of financial services in banking sectors in Nigeria

2. It would be of importance to the limited bank for Affrica as the case study as it helps to know take into consideration before the choice of any promotion al variable.

3. It would be of importance to the researcher as it sould help or enable them to combat any problem that may arise as a result of selecting promotional mix variable in case they found them selves in such position leter in future.

4. It would serve as a useful purpose to the consumer as it makes them have more knowledge of them have more knowledge of the firm and its offerings everyday to know hoe to make their decision compare to that of competitors.

5. It would also help other financial sectors or to know hoe best to handle and manage their promotional department as to be fit into the market.

6. finally, the study would also services as a secondary data source to other researchers later.

1.5 SCOPE OF THE STUDY

Determinant of promotional tools to choose or select as it applies to the marketing performance in the marketing of financial services is a broad scope which includes:

1.5.1 THEORETICAL SCOPE

The area of coverage of this research work is contered on the mix in the marketing of financial services in Nigeria the impact of this marketing strategy will be analyzed.

1.5.2 GEOGRAPHICAL SCOPE

The area covered in terms of location is a very wide range where there are numerous consumers whome make use of U.B.A services right from kwara state to other state where U.B.A are being delivered their services across the countries.

1.5.3 INDUSTRIAL SCOPE

This research work will cover the banking industries using U.B.A as a references point of the banking industries that either produces services to satisfy consumers or delivered their services in terms of and other means for consumer satisfaction.

1.5.4 TIME SCOPE

As a result of the limited time, the data obtained will be within a span of a year and the validity of the outcome can only be tenable for the duration of (3) three year as a result of changing in marketing condition.

1.6 LIMITATION OF STUDY

This part of the study explain or highlight the possible factors limiting the scope and success of the study. Some of these factors are:

⦁ Lack of financial capacity: this is one of the crucial factors affecting the functionality of the study as it denies the researcher through financial strength to conduct the necessary research based on the success of the study.

⦁ Lack of materials: Scarcity and inadequate required data and information has always been one of the generally factor acting against the success of many research study in Nigeria. Few available secondary data cells for the use of primary data, which involves huge financial strength.

⦁ Poor communication and transportation system is another factor that limits the scope of the study as it disallows the researcher the right to cover some other aspects of the population for the study.

Also limiting against the study is the lack of co-operation of the respondent supplying false data duet to saliency, ignorance of illiteracy.

.

THE DETERMINANT OF CHOICE OF PROMOTIONAL MIX IN THE MARKETING OF FINANCIAL SERVICES IN NIGERIA (A CASE STUDY OF UBA)



TYPE IN YOUR TOPIC AND CLICK SEARCH.






RESEARCHWAP.ORG
Researchwap.org is an online repository for free project topics and research materials, articles and custom writing of research works. We’re an online resource centre that provides a vast database for students to access numerous research project topics and materials. Researchwap.org guides and assist Postgraduate, Undergraduate and Final Year Students with well researched and quality project topics, topic ideas, research guides and project materials. We’re reliable and trustworthy, and we really understand what is called “time factor”, that is why we’ve simplified the process so that students can get their research projects ready on time. Our platform provides more educational services, such as hiring a writer, research analysis, and software for computer science research and we also seriously adhere to a timely delivery.

TESTIMONIES FROM OUR CLIENTS


Please feel free to carefully review some written and captured responses from our satisfied clients.

  • "Exceptionally outstanding. Highly recommend for all who wish to have effective and excellent project defence. Easily Accessable, Affordable, Effective and effective."

    Debby Henry George, Massachusetts Institute of Technology (MIT), Cambridge, USA.
  • "I saw this website on facebook page and I did not even bother since I was in a hurry to complete my project. But I am totally amazed that when I visited the website and saw the topic I was looking for and I decided to give a try and now I have received it within an hour after ordering the material. Am grateful guys!"

    Hilary Yusuf, United States International University Africa, Nairobi, Kenya.
  • "Researchwap.org is a website I recommend to all student and researchers within and outside the country. The web owners are doing great job and I appreciate them for that. Once again, thank you very much "researchwap.org" and God bless you and your business! ."

    Debby Henry George, Massachusetts Institute of Technology (MIT), Cambridge, USA.
  • "Great User Experience, Nice flows and Superb functionalities.The app is indeed a great tech innovation for greasing the wheels of final year, research and other pedagogical related project works. A trial would definitely convince you."

    Lamilare Valentine, Kwame Nkrumah University, Kumasi, Ghana.
  • "I love what you guys are doing, your material guided me well through my research. Thank you for helping me achieve academic success."

    Sampson, University of Nigeria, Nsukka.
  • "researchwap.com is God-sent! I got good grades in my seminar and project with the help of your service, thank you soooooo much."

    Cynthia, Akwa Ibom State University .
  • "Sorry, it was in my spam folder all along, I should have looked it up properly first. Please keep up the good work, your team is quite commited. Am grateful...I will certainly refer my friends too."

    Elizabeth, Obafemi Awolowo University
  • "Am happy the defense went well, thanks to your articles. I may not be able to express how grateful I am for all your assistance, but on my honour, I owe you guys a good number of referrals. Thank you once again."

    Ali Olanrewaju, Lagos State University.
  • "My Dear Researchwap, initially I never believed one can actually do honest business transactions with Nigerians online until i stumbled into your website. You have broken a new legacy of record as far as am concerned. Keep up the good work!"

    Willie Ekereobong, University of Port Harcourt.
  • "WOW, SO IT'S TRUE??!! I can't believe I got this quality work for just 3k...I thought it was scam ooo. I wouldn't mind if it goes for over 5k, its worth it. Thank you!"

    Theressa, Igbinedion University.
  • "I did not see my project topic on your website so I decided to call your customer care number, the attention I got was epic! I got help from the beginning to the end of my project in just 3 days, they even taught me how to defend my project and I got a 'B' at the end. Thank you so much researchwap.com, infact, I owe my graduating well today to you guys...."

    Joseph, Abia state Polytechnic.
  • "My friend told me about ResearchWap website, I doubted her until I saw her receive her full project in less than 15 miniutes, I tried mine too and got it same, right now, am telling everyone in my school about researchwap.com, no one has to suffer any more writing their project. Thank you for making life easy for me and my fellow students... Keep up the good work"

    Christiana, Landmark University .
  • "I wish I knew you guys when I wrote my first degree project, it took so much time and effort then. Now, with just a click of a button, I got my complete project in less than 15 minutes. You guys are too amazing!."

    Musa, Federal University of Technology Minna
  • "I was scared at first when I saw your website but I decided to risk my last 3k and surprisingly I got my complete project in my email box instantly. This is so nice!!!."

    Ali Obafemi, Ibrahim Badamasi Babangida University, Niger State.
  • To contribute to our success story, send us a feedback or please kindly call 2348037664978.
    Then your comment and contact will be published here also with your consent.

    Thank you for choosing researchwap.com.