Effect Of Advertising Media On Customer Patronage For Banking Service In Abia State, Nigeria (A Study Of First City Monument Bank Plc)

ABSTRACT

The continuous reliance on advertising by financial institutions, suggests an appreciable level of trust as a communication tool. Advertising media which uses electronic energy to transmit information to the end user is called electronic media advertising. (Radio and Television). Advertising media in form of printed articles is referred to as print media (Newspaper and Magazines). The broad objective of this is to examine the Effect of Advertising Media on Customers’ Patronage for Banking Service in Abia State, Nigeria (A Study of First City Monument Bank PLC). The specific objectives include describing the socio - economic characteristics of the respondents; to examine the impact of electronic advertisement on customers’ patronage; to ascertain the impact of print media advertisement on customers’ patronage and to evaluate the effect of advertisement in promoting banking services. The data was analysed based on the objectives of the study. Questionnaires were administered to 139 FCMB customers including branch managers and customer care personnel. Statistical Package for Social Sciences (SPSS) was used to analyse the data. Results from the analysis shows that majority of the respondents 39.56% strongly agree that print media (newspaper and magazines) have positive impact on advertisement of FCMB banking services in Abia state. The study also revealed that electronic media ads were carried out as a competitive strategy to promote the bank and increase its market share and exposure against competitors. It is therefore recommended that FCMB should also increase media for advertising from television and radio (electronic media) to bill board, posters and pamphlets so that advertising message will reach many people.

TABLE OF CONTENT

Tittle Page ﾿ i

Research Evaluation ﾿                      ii

Declaration ﾿ iii

Certification ﾿ iv

Dedication ﾿ v

Acknowledgement ﾿ vi

Table of content ﾿ vii

Lists of table ﾿ viii

Abstract ﾿ xii

CHAPTER ONE: INTRODUCTION

1.1 ﾿ Background to the Study ﾿ 1

1.2 ﾿ Statement of the problem ﾿ 3

1.3 ﾿ Objective of the Study ﾿ 4

1.4 ﾿ Research Question ﾿ 5

1.5 ﾿ Research Hypotheses ﾿ 5

1.6 ﾿ Scope of the Study ﾿ 6

1.7 ﾿ Significance of the Study ﾿ 6

1.8 ﾿ Definition of the Study ﾿ 6

CHAPTER TWO: REVIEW OF RELATED LITERATURE 

2.0 ﾿ Conceptual framework ﾿ 8

2.1 ﾿ Advertising media ﾿ 8

2.1.1 ﾿ Television advertising and customer patronage for banking services ﾿ 9

2.1.2 ﾿ Radio advertising and customer patronage for banking service ﾿ 10

2.1.3 ﾿ Newspaper advertising and customer patronage for banking services ﾿ 11

2.1.4 ﾿ Magazine advertising and customer patronage for banking services ﾿ 12

2.2 ﾿ Objectives of advertising media ﾿ 14

2.3       Role of Advertising media ﾿           15

2.4 ﾿ Theoretical framework ﾿ 16

2.5 ﾿ Empirical framework ﾿ 18

2.6 ﾿ Marketing Efficiency Model/Data Envelopment Analysis (DEA) ﾿ 21

CHAPTER THREE: RESEARCH METHODOLOGY ﾿ 23

3.1 ﾿ Research Design ﾿ 23

3.2 ﾿ Area of Study ﾿ 23

3.3 ﾿ Source of Data/Method ﾿ 24

3.4 ﾿ Population of the Study ﾿ 24

3.5 ﾿ Sampling Techniques and Sample Size ﾿ 25

3.6 ﾿ Validity of Instrument ﾿ 25

3.7 ﾿ Method of Data Analysis ﾿ 26

3.8 ﾿ Reliability of Instrument ﾿ 26

3.9 ﾿ Model of Specification ﾿ 26

CHAPTER FOUR: RESULT AND DISCUSSION ﾿ 28

4.1 ﾿ Socio-Economic Characteristics   of Respondent                                    28

4.2 Impact of Electronic media (Television and Radio) advertisement on customers’ patronage.

4.3 ﾿ Impact of Print Media (Newspaper and Magazines) Advertisement on customers’ patronage                                 4.4 ﾿ Effect of Advertisement in Promoting Banking Services ﾿ 37

CHAPTER FIVE: SUMMARY CONCLUSION AND POLICY

 RECOMMENDATION ﾿

5.1 ﾿ Summary ﾿

5.2 ﾿ Conclusion ﾿

5.3 ﾿ Policy Recommendation

REFERENCES ﾿                         

 APPENDIX  ﾿