THE EFFECTIVENESS OF ADVERTISING IN COMMERCIAL BANKING IN NIGERIA; A COMPARATIVE STUDY OF FIRST BANK OF (NIGERIA) LIMITED AND UNION BANK OF (NIGERIA) LIMITED
THE EFFECTIVENESS OF ADVERTISING IN COMMERCIAL BANKING IN NIGERIA; A COMPARATIVE STUDY OF FIRST BANK OF (NIGERIA) LIMITED AND UNION BANK OF (NIGERIA) LIMITED
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Date
1988-10
Authors
ADEDIRAN, MONSURAT YETUNDE
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Abstract
This study was undertaken to throw some light on the growing uncertainty about the effectiveness of advertising in commercial banking in Nigeria especially in a situation whore many people do not believe in patronizing banks. Some critics have questioned the use of advertising and sales promotion for the sales of goods and services on the grounds that it adds to costs and consequently prices since costs influence prices through the supply side). Others have seen advertising and sales promotion as a machinery for cheapening of goods because the additional costs of time and resources that would have been wasted in the search effort by consumers are removed. It is these two propositions that prompted this study to enable us understand the degree to which advertising activities of commercial banks has been effective in Nigeria. The fact that new commercial banks are springing up daily and the existing ones are expanding their network of branches also coupled with the fact that their advertising activities were taken into consideration, a comparative study of First Bank of Nigeria Limited and Union Bank of Nigeria limited was undertaken. The importance of the customer to the achievement of corporate goals cannot be over-emphasized. To
vii i achieve the overall objective of the organization, it is essential to make known its services to its target market especially with the use of good language. In the comparative study of First Bank and Union Bank, it was found that duo to their advertising activities, the target market are receiving the messages being put across to then. Also advertising was found effective to some extent especially in the generation of awareness. Although the amount expended on advertising is yet to achieve the targeted response. Commercial banks in Nigeria should endeavor to improve on their services especially, trying not to make gorgeous claims in their advertisements. Government should also take active part in regulating market in.' n runs in Nigeria, especially to check mis -leading advertisement
Description
BEING A RESEARCH PROJECT SUBMITTED TO THE DEPARTMENT OF BUSINESS ADMINISTRATION IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE AWARD OF THE DEGREE OF MASTER OF BUSINESS ADMINISTRATION (M.B.A.) OF THE AHMADU BELLO UNIVERSITY, ZARIA. OCTOBER, 1988.
Keywords
EFFECTIVENESS,, ADVERTISING,, COMMERCIAL,, BANKING,, NIGERIA;, COMPARATIVE,, FIRST BANK,, UNION BANK,