Download material on The Role Of Advertisement In Improving Nigerian’s Banking System from chapter one to five with reference
As human history approaches, 21st century with its 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 an agrarian economy where people were self sufficient. With time however, division of labour set in contemporary society have now evolved specialized sectors as the banking sector the focus of this research work.
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The imminence of marketing in the banking sectors has for long been obvious what more their in Nigeria content with the coming of the 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 operarion in Lagos. Among many other banks that commence, they were bank of America also know as Savana Bank then before liquidation as well as Afribank Plc.
TABLE OF CONTENT
Title page
Certification
Dedication
Acknowledgement
Table of Contents
CHAPTER ONE
1.1 Background of the Study
1.2 Objectives of the Study
1.3 Statement of the Problem
1.4 Justification of the Study
1.5 Scope and Limitations of the Study
1.6 Methodology
1.7 Definitions of words
1.8 Plans and Organization of the Study
CHAPTER TWO
2.1Definition of Advertisement
2.2Development Advertisement
2.3Objectives of Advertisement
2.4Advertising Media
2.5Implication of the Banking Industry
CHAPTER THREE
3.1 Historical review of the case Study: Afribank Plc
3.2 Research Methodology
3.3 Sample Design
3.4 Sources of Data
3.5 Procedure for Data Collection
3.6 Technique of Data Analysis
CHAPTER FOUR
4.1 Data Presentation
4.2 Data Analysis
4.3 Interpretation of Data
CHAPTER FIVE
5.1 Summary of Findings
5.2 Conclusion
5.3 Limitations
5.4 Recommendations
Reference
CHAPTER ONE
1.1 BACKGROUND OF THE STUDY
Form the on set, these banks have to rival the pre-existing traditional institution using. The fad of that time was newspaper 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 juncture, 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 are 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.
The product range INCLUDES:
FINANCIAL ASSISTANCE
– Personal Loans
– Overdraft Loans
– Project Finance
– Loan Syndication
– Share loan Scheme
FINANCIAL ADVISORY SERVICES
– International Banking
– Exports
– Imports
– Dominance Accounts
– Remittances
– Specialized Schemes
– Agricultural Finance
– Housing Loan Schemes
– Warehouse Finance
– Bond/Guarantees.
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 circumstance 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 for the ripple in the wake of this policy, the market place was stirred by aggressive selling through various advertisement medium undertaken by banks then Radio too 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 variable like money supply, interest rates e.t.c hence, by 1997, the number of licensed banks had gone up to 120 (excluding the development of specialized banks like NIDB, 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.
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Therefore, with this high number of stiff competition becomes the plight of banks. The traditional big four had their domination, United Bank for Africa, Union Bank, First Bank and Afribank 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 gratifying returns.
1.2 AIMS AND OBJECTIVES: 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 proceeds. Actually as 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.
With the 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.
Banking business 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:
- Identifying th various types of advertisement applicable in marketing communication in banking operation (industry).
ii.Investigating the appropriate of advertisement and its chose types of the basic business mission which shapes and guided their strategies actions.
iii.Evaluating 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.
1.3 STATEMENT OF RESEARCH PROBLEM
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.
- What is the historical background of role and advertisement in Nigeria banking industry?
- What are the development of advertisement?
- What are the main purpose of advertisement?
- What are the various advertisement media?
- What are the implication for the banking industry?
Stimulate the customer directly or to work through the sales force or the trade is one of the primary purpose of this study.
Hopefully, the implication of various roles for the ways in which advertising should most appropriate be evaluated will be find out.
As it is peculiar with every enterprise, the mode of existence and profit survival and growth also are not unconsidered.
According to Rathmel John M. the purpose of marketing in banking industry are as follows:
v Demand Creation
v Revenue Expansion
v Market Development
And actually, in the past all these have been important in the Nigeria Banking Industry. Considering the significant in terms of competition and business philosophy.
1.4 JUSTIFICATION OF THE STUDY
This section will examine the significance of this stuffy in respect to surrounding circumstances. Noticeable light will be thrown 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 development as merchant bank now introducing and marketing services initially the domain of commercial banks such as IMB’s, Intercontinental, 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.
The business environment especially banking business of today is changing very fast. It is demanding for more profits, improve customers 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 applications by which government ensure 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.
1.5 SCOPE AND LIMITATION OF THE STUDY
The scope it 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 is important, if a bank place on advert, its will make to have more customer and the customer what is there in the banking services and its also encourage the customer to patronized the bank.
The scope of the study 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 programmed.
The research is going to take from 2010 till date
Precisely, this study consist of five chapter the section chapter one considers background information of the study.
The aims and objectives of the study are judiciously out and explained as well in first chapter within the same chapter the scope of the study i.e its delimitation and justification of the study are also discussed.
Chapter two sees to literature review on respect of both published and in published materials like Journal, Textbook, Circulars as other sources are taken notice 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.
The research methodology and its all tools of instrument of gathering relevant information are introduced in chapter three.
A details is taken on how the study will proceed either will be administered, effort is taken to highlight all the aspect of its analysis. Basically the sample design definition and selection procedure for data collection measuring instruments and techniques for data analysis are all explained before preceeding to chapter four where the analysis will be taken.
The chapter four is the data analysis interpretation and discussion section in chapter four here the analysis of the data collected are carried out for the study, the analysis will be in such way that cover the views opinion and established fact from the employee marketing department staff the intermediaries as in case of agency relationship and the customer of the bank. 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.
Finally, chapter five sums up the facts gotten in the summary of the data collected, conclusion and recommendation. Here the opinion and view will be propose from those premises recommendation will be made.
1.6 METHODOLOGY
This stated the types, of data to be collected on the sources. What instrument to be used for data collection and data analysis. The topic is role of advertisement in Nigeria banking industry with emphasis on Afri bank of Nigeria plc. The instrument to be employed to collect the primary sources which include questionnaire and interview why 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 Afri bank Nigerian plc why both description and inferential statistics has been employed to present and analyze the data collected.
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