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The Determinant Of Choice Of Promotional Mix In The Marketing Of Financial Services In Nigeria
[A CASE STUDY OF UBA]
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2.2.4 PROMOTIONAL MIX FOR TANGIBLE AND FINANCIAL PRODUCT
This part of the study compares the promotional mix variables for physical tangible products and the financial services products. This physical products is said to be those products that can be seen, touch, tested and exchange for tangible materials not like the financial services products which involve those product that are not visible, touchable but an exchange product that are not visible, touchable but are exchange for money. They involve the handling of foods and other services which does not result in the ownership of anything tantigble but abstract in nature.
The promotional mix also called the communication mix for tangible products still remain the common mix of advertising, sales promotion, personal selling, publicity and public relation used to pursue the firm’s marketing and advertising objectives in the market place while.
The promotional or marketing communication mix variables for financial services products are said to stand-out because of the intangible, perishable, and variability nature of financial services products. The financial services promotional activities aims to transform the financial services product from abstract (invisible) from the concrete forming the mind of the customers of financial services. The choice of promotional mix for financial services is said to be the one that have staying power. That is such message that will be imprinted in the memory (psyched of the prospective customer. Advertising, sales promotion, word of mouth, direct main permission marketing are all promotional mix than can simply be employed or combined in the marketing of financial services product.
2.3 SUMMARY OF REVIEW
Determinants of choice of promotional mix in the marketing of financial services in Nigeria is an aspect of marketing that reveals what a financial services worth because non one can really state deep that a firm is alive not until people get to know the availability of theproduct or services which can only be done through promotional mix elements, it can come through advertising, sales promotion personal selling publicity and public relations. It is also reveal in this charpter that a company its promotional mix consists of the specific blend of advertising, sales promotion, personal selling and direct marketing objectives as postulated by Philip Koth and Gery Armstrong (2006).
It is therefore importance to state where that to determine what tools or promotional mix to choose in marketing of financial services. It is worth to know the strength, weakness, opportunity and threat of a financial service so as not to select or pick a total wrong option
2.4 HYPOTHESIS FORMULATION
> Ho: There is no relationship between the consumer level of satisfaction and the company delivery services
Hi: There is relationship between the consumer’s level of satisfaction and the company’s delivery service
> Ho: There is no relationship between the consumer level of satisfaction and the company’s price change and quality of financial services product of the company
Hi: There is relationship between the consumers level of satisfaction and the price change and quality of financial services product of the company.
> Ho: Promotional activities does not play roles towards the realization of the firm’s goods and objectives
Hi: Promotional activities has been thinly playing effective ides toward the realization of the firm goals and objective in the market place.
Ho: Goods and services are not always available at when needed
Hi: Good and services as always available as at when needed.
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ABSRACT - [ Total Page(s): 1 ]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 cons ... Continue reading---
TABLE OF CONTENTS - [ Total Page(s): 1 ]TABLE OF CONTENTCHAPTER ONE: BACKGROUND TO THE STUDY1.1 Introduction1.2 Statement of problems of the study1.3 Aims and objectives of the study1.4 Significance of the study1.5 Scope of the study1.5.1 Theoretical scope1.5.2 Geographical scope1.5.3 Industrial scope1.5.4 Time scope1.6 limitations and constraints to the studyCHAPTER TWO: LITERATURE REVIEW 2.1 Review of past research reports on the subject matter (empirical review)2.2 ... Continue reading---
CHAPTER ONE - [ Total Page(s): 2 ]CHAPTER ONE1.1 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 mainl ... Continue reading---
CHAPTER THREE - [ Total Page(s): 2 ]CHAPTER THREE3.1 RESEARCH DESIGN Research has been defined as a diligent and systematic attempt to find acceptable answers and solution to question or problems through certain logically designed processes or steps (Dino sano). And research design is said to be the act of specifying the method for collection and analyzing the data necessary to help solve the problem under investigation, such that the difference between the cost of obtaining various levels of accuracy and expected valu ... Continue reading---
CHAPTER FOUR - [ Total Page(s): 10 ]Tests 2 Test on the relationship between the consumers level of satisfaction and the price change and quality of financial services product of the company (UBA) Ho: there is no relationship between the consumer’s level of satisfaction and the company’s price change and quality of financial services products.Ha; here is relationship between the consumers satisfaction and the price change and quality of financial services products of the companya = 5% = 0.05C.R = 3.84 (1 degree ... Continue reading---
CHAPTER FIVE - [ Total Page(s): 1 ]CHAPTER FIVE5.0 SUMMARY CONCLUSION AND RECOMMENDATIO This project work has been conducted through verbal interview in the united bank for [UBA] and we have been able to identify various factors that determine the choice of promotional mix variable conducted, we arrived at the following findings.5.1 SUMMARY OF PROJECT. The market nature and characteristics is one of the factors that determine the choice of promotional nix variable of the UBA bank. Product nature ... Continue reading---
REFRENCES - [ Total Page(s): 1 ]REFERENCESAfolayan, J.A (2000): promotion management and marketing communication: Iorin, Adewumi press.Deliyimpk D.J and Person L.J (1980): marketing management test and cases: U.S.A John wiley and sonsDescoster, D.T and Schafer, E.F (1984): Management accounting: N.S.A Pitman PublishingGozueta, R (1996): coca-cola word of opportunity; new york beverage world int’l.Irving, s.k (1997): public reations: new york, Aledanderj hamiton institute pressKotler, P and Armstrong (1999): principle of ... Continue reading---
