TABLE OF CONTENT
TITLE PAGE
CERTIFICATION
DEDICATION
ACKNOWLEDGMENT
TABLE OF CONTENT
CHAPTER ONE
- INTRODUCTION
- STATEMENT OF THE
PROBLEM
- OBJECTIVES OF THE
STUDY
- RESEARCH QUESTION
- RESEARCH HYPOTHESIS
- SIGNIFICANT OF THE
STUDY
- DEFINITION OF TERMS
- PLAN ORGANIZATION OF
THE STUDY
CHAPTER TWO
- LITERATURE REVIEW
- HISTORICAL BACKGROUND
OF SKY BANK PLC
- DEVELOPMENT OF
ADVERTISEMENT
- THE NEED FOR
COMMUNICATION
- OBJECTIVE OF
ADVERTISEMENT
- IMPLICATION OF
ADVERTISING FOR THE BANKING INDUSTRY
CHAPTER THREE
- RESEARCH METHODOLOGY
- METHOD OF DATA
COLLECTION
- TECHNIQUE OF DATA
ANALYSIS
CHAPTER FOUR
CHAPTER FIVE
CHAPTER
ONE
1.1
BACKGROUND OF THE STUDY
As
human approaches 21st century with it 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 agrarian economy where people were self sufficient. With time
however, division of labour set n contemporary society have now evolved
specialized sectors as the banking sector the focus of this research work.
The
immense of marketing in the banking sectors has for long been obvious what more
there in Nigeria content with the coming of 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 operation in Lagos.
Among many other banks that commence they were bank of America also known as Savana
Bank then before liquidation as is well as Skye Bank Plc.
From the onset
these banks have to rival the pre-existing traditional institution using. The
fad of that time was News paper 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 point,
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 arc 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
– Remittance
– Specialized Schemes
– Agricultural Finance
– Housing Loan Schemes
– Warehouse Finance
– Bonds/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 circumstances 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 to the ripple in the sake of this policy, the market place ‘was stirred by aggressive selling through serious advertisement medium undertaken by banks then Radio took 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 satiable like money supply,
interest rates etc hence by 1997. the number of licensed banks had gone up to
120 (excluding the development of specialized banks like NIDC, 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. 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 Skye Bank 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
STATEMENT OF THE PROBLEMS
Banking
business and the banking industry generally faced with certain problems in
marketing their banking services. Among these problems are:
- Low quality product
(service):- the quality so services provided by the financial institutions
(banks) these days are very low quality.
- Inadequate
promotional activities:- promotional activities like advertisement and
publicity are still lacking people have not been quality enough on packages
available from these financial institution.
- Unappealing price:-
users of the services of the bank usually consider the prices charged by these
institutions for their services not appealing.
1.3 RESEARCH QUESTIONS
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.
1. What is the historical
background of role and advertisement in Nigeria banking industry?
2. What are the developments of
advertisement?
3. What are the main purposes of
advertisement?
4. What are the various advertisement
media?
5. What are the implications for
the banking industry?
1.4 OBJECTIVES OF THE STUDY
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 precedes. Actually 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
- How to identifying
the various types of advertisement applicable in marketing communication in
banking operation (industry).
- Investigating the
appropriate of advertisement and its chose types of the basic business mission
which shapes and guided their strategies actions.
- Calculating
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.
1.5
RESEARCH HYPOTHESIS
The general hypothesis that will
be tested in the course of this project is as follows:-
Ho: The Roles of advertisement
has no correlation with profitability and efficiency in Nigeria banking system.
Hi: The Roles of advertisement has
correlation with profitability and efficiency in Nigeria banking system.
1.6
SIGNIFICANCE OF THE STUDY
This section
will examine the significant of this study in respect to surrounding
circumstances. Noticeable light will be throw 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 de development as merchant bank now introducing
and marketing services initial 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 customer’s 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 application by
which government ensures 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.
1.7
SCOPE AND LIMITATION OF THE STUDY
The scope
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 sector is
important, if a bank place on advert, it will make to have more customer and
the customer what is there in the banking services and it also encourage the
customer to patronized the bank
The scope of
the studs 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 programme precisely, this study consist of five
chapter in which the chapter one considers background information of the study.
The aims and
objectives of the study is judiciously explained as well in first chapter
within the same chapter the scope of the study i.e. its limitation and
justification of the study were also discussed
Chapter two
seek to review the literature with respect to both published and unpublished
materials like Journal, textbook, Articles as other sources were also taken
into consideration 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
was introduced in chapter three. A details is taken on how the studs will
proceed either will be administered, effort is taken to highlight all the
aspect of its anal sis. Basically the sample design definition and selection
procedure for data collection measuring instruments and techniques for data
analysis are all explained before proceeding to chapter four where the analysis
w ill he taken
The chapter
four is the data analysis interpretation and discussion section in chapter four
here, the analysis of the data collected were analyzed, the analysis will be in
such way that it covers the view opinion and established fact from the employee
marketing department staff the intermediaries as in the case of agency relationship
and the customer. 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 recommendations. 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 cot lee ii and data analysis. The topic is role of advertisement in
Nigeria banking industry with emphasis on sky Bank of Nigeria Plc. The
instrument to be employed to collect the primary sources which include
questionnaire and interview while 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 Skye Bank Nigeria
Plc while both description and inferential statistics has been employed to
present and analyze the data collected.
1.8
DEFINITION OF WORDS
ADVERTISEMENT:
Advertisement is very important in used to communicate both with customer and
other business are the ultimate consumer of a product or if other business play
an important role in getting the product to the consumer. Advertisement can be
using media such as television, newspaper, radio and magazine is impersonal.
ECONOMIC
DEVELOPMENT: Economic development is very
importance are the laudable role that play in saving mobilization and surveyors
of credits like other business enterprises, the> also as “.sell parade some
product and services which contribute to the economics of the country.
AGRICULTURAL FINANCE: Banks make some impact to contribute their effort the agricultural finance, by keep on offering their product and services they need to undertake special effort.
THE ROLES OF ADVERTISEMENT IN NIGERIA BANKING SYSTEM (A CASE STUDY OF SKYE BANK PLC)
