This study on “Co-operate Advertising as an effecting promotional tool in the marketing of banking services, has tried to seek answers to the crucial question that plaques the memory of readers. Questions on how co-operate advertising acts as an effective promotional tool in the marketing of banking services, its values and importance. Chapter one of the study deals with the general introduction of the study, it’s background and analyses, statement of the study, significance, the research question and most importantly the definition of terms. Chapter two of the study examines extensively different views such as literature review, observations and comments of economist on the effectiveness of co-operate advertising. The third chapter is about the method to be used in conducting the research study. The type of method of study to be used which is survey method, design, sample size and population. Chapter four is about data analysis and result. Chapter five summarizes it and deals with recommendation.
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?