Assessment Of The Performance Of Promotional Tools In Informing Persuading Reminding Customers A Case Of Ethiopian Insurance Corporation

The purpose of this research project is to assess the performance of promotional tools adopted by thernEthiopian Insurance Corporation (EIC) in respect of informing, persuading and reminding itsrnactual and potential customers. The study dealt with the promotional elements i.e. advertising,rnsales promotion, personal selling and public relations practices of EIC. The study focused onrncustomers in Addis Ababa and conducted by distributing questionnaires to be completed by EIC’srncustomers. In this study mixed research approach was used in collecting and analyzing data.rnBecause the study uses both qualitative and quantitative forms of research. The populations forrnthe study were 384 insurance policy holders who have bought insurance cover from the corporation.rnData for the study was collected quantitatively using questionnaires and qualitatively throughrnobserving and understanding the corporation’s promotion performance. Primary data was obtainedrnby distributing questionnaires to customers when they came to the corporation’s districts andrnbranches in Addis Ababa. The collected data were analyzed using SPSS to determine whether thernpromotion tools used by EIC meet the intended objectives. Descriptive statistics including mean,rnfrequency, standard deviation and percentages were applied. The reliability of the tool applied wasrntested and a Cronbach alpha value of 0.964 has been obtained. The study found that promotionalrntools adopted by EIC are informative, persuasive and reminding at moderate level. But personalrnselling took the highest level followed by advertisement, sales promotion and public relationsrnrespectively. On the other hand from public relations instruments press release and press conference arernperformed at lower level. The study recommends that though, the promotion elements meet promotionrnobjectives at moderate level, the corporation needs to work hard to increase the tools’ informing, persuadingrnand reminding effect to the highest level to attract new customers and retain the existing one, so as to win therncompetition in the market.

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