THE EFFECT OF PROMOTIONAL STRATEGIES IN THE MARKETING OF BANK SERVICES

ABSTRACT

Promotional tactics are a set of techniques used by businesses to inform, persuade, and educate the audience using the promotional mix.

Furthermore, promotional tactics promote not only tangible things but also ideas, services, personalities, and so on. It also conveys to customers the desire for, and satisfaction with, a product or service.

The purpose of the research project, titled “the effect of promotional strategies in the marketing of bank service” a case study of UBA PLC, was to determine the effect of promotional strategies on the quality of service, as well as to determine how promotions have aided the bank in its achievement in the service industry, and to determine if the increase in customer patronage was as a result of promotions.

In order to achieve the stated goal, some related literature on the effect of promotional strategy on the marketing of bank services was evaluated.

The main tool employed in this study was a questionnaire provided to two populations: bank management and customers, which was supplemented with a personal interview.

Relevant data was examined and hypothesis tested based on the information gathered from the questionnaire and interviews. According to the data reviewed, the advertising creates a favourable image for the bank, the majority of people in Enugu metropolitan are aware of UBA Plc, and the bank’s profitability and customer patronage rise.

The following recommendations were made based on the funding: UBA should carry out promotions on a regular basis since they enhance sales, patronage, profitability, brand image, and other benefits.

RESEARCH PROPOSAL

The impact of promotional methods on bank service marketing (a case study of United Bank for Africa plc)

Summary

The researcher will investigate the impact of promotional methods on the marketing of bank services in this study.

The research’s context

The study will look at the history of the problem and the benefits of promotional methods used in the marketing of bank services, as well as the numerous attempts made in the past to solve the problem that the bank was facing, which led to the current study.