the role of promotion tools and techniques on the peformance of a bank- a case study on NIBL
Table of Contents
Background of the area of the project 3
Research Objectives 6
Research Questions 6
Literature review 7
Research Design 10
Study Area and Rationale for Selection 10
Population 10
Sampling Procedure 10
Data gathering procedure 11
Nature and Source of Data 11
Data Analysis and Interpretation 11
Expected Findings 12
Work plan 12
References 13
Background of the area of the project
Bank is an essential part of the well functioning economy. Though the importance of the bank is substantial it is not free from the necessity of promoting services and products they provide. In today’s competitive and volatile environment all institutions including banks should communicate with their market. This generally relates to the marketing activities that a bank would do to market and promote its services. Promotion of a bank can be seen as an aggregate of function that are directed at providing services to satisfy customers' financial needs and wants, more effectively than the competition keeping in view the organizational objective of the bank. All those activities related to marketing and promotion strategies become even more crucial when they are executed to design, distribute and promote banking services.
Promotion refers to publicizing of a product or services of an organization so as to increase sales and public awareness. Promotion is the direct way an organization attempts to reach its public and is performed through the five elements of promotion mix including advertising, sale promotion, personal selling, public relation and direct marketing (Czinkota & Ronkainen, 2004). With the growing importance of the financial sector, pressures are escalating for more effective promotion management of the financial services of any bank. Promotional tools and techniques adopted by a bank should be carefully chosen as here more than attracting a customer, gaining their trust and confidence is much more important. Though gaining their
Background of the area of the project 3
Research Objectives 6
Research Questions 6
Literature review 7
Research Design 10
Study Area and Rationale for Selection 10
Population 10
Sampling Procedure 10
Data gathering procedure 11
Nature and Source of Data 11
Data Analysis and Interpretation 11
Expected Findings 12
Work plan 12
References 13
Background of the area of the project
Bank is an essential part of the well functioning economy. Though the importance of the bank is substantial it is not free from the necessity of promoting services and products they provide. In today’s competitive and volatile environment all institutions including banks should communicate with their market. This generally relates to the marketing activities that a bank would do to market and promote its services. Promotion of a bank can be seen as an aggregate of function that are directed at providing services to satisfy customers' financial needs and wants, more effectively than the competition keeping in view the organizational objective of the bank. All those activities related to marketing and promotion strategies become even more crucial when they are executed to design, distribute and promote banking services.
Promotion refers to publicizing of a product or services of an organization so as to increase sales and public awareness. Promotion is the direct way an organization attempts to reach its public and is performed through the five elements of promotion mix including advertising, sale promotion, personal selling, public relation and direct marketing (Czinkota & Ronkainen, 2004). With the growing importance of the financial sector, pressures are escalating for more effective promotion management of the financial services of any bank. Promotional tools and techniques adopted by a bank should be carefully chosen as here more than attracting a customer, gaining their trust and confidence is much more important. Though gaining their