The Impact Of Advertising On The Marketing Of Banking Services  (A Case Study Of Micro Finance Bank Oko)

Project and Seminar Material for Marketing

The Impact Of Advertising On The Marketing Of Banking Services (A Case Study Of Micro Finance Bank Oko)


This research work is on the impact of advertising in the marketing of banking services. This work was carried out in order to determine the impact of advertising in the marketing of banking services using Micro Finance Bank Plc Oko as a case study. As a matter of fact, financial industries are banks and other insurance firms.

Advertising can be defined as any paid form of non-personal presentation and promotion of ideas, goods or services by an identified sponsors. This look at the various types of advertising that is required for the success of the service in the market.

In the first chapter, the researcher defined what a micro finance is and its operation in Nigeria. In the same chapter the researcher stated the research problems, the objectives declaring his intentions for carrying out this survey. Continuing the research also explained the significance of the study and eventually stated the research hypothesis, which was also tested and proves that the researcher analyzed data.

The second chapter has to deserve it traces down explaining how versatile the contribution of the advertising has been in the world economic developments. Following it up comes the literature works of eminent scholars their views were used to back up the personal and arguments.

The chapter three is headed with the research design and methodology. The sample take for this study revolves around 30 people. The researcher also reflected here the percentages table and chi-square were used too for description of data analysis and hypothesis testing.

In chapter four were the presentations and analysis of data. The researcher consider its important, to test the four hypothesis at this stage, also solutions to the problem was found. Findings also were made which the firm should consider.

Chapter five, shows the summary of the research findings, recommendation gearing that advertising help to build up firms good services or ideas.

Chapter One

1.0 Introduction

Advertising and Banking Industry (Micro Finance Bank)

Banking are economic decision units that are set up for the provision of financial services and products to targeted market. This service tendered to both public and private sector of the economy includes: collection of deposits, clearing of cheques and other exchange, granting of loans and over drafts guarantee of joint financing by two or more banks foreign exchange transaction, fund transfer and insuring drafts services rendered include safe keeping facility and financial advice to customers.

The operation of micro finance bank initially community bank were perceived to be incorporated for efficient sustainable economy. Micro finance bank help to provide financial assistance and credit to its customers, including formal and informal self – help groups, individuals and association: except public sector deposits from government agencies.

To this end, micro finance bank have to come up with more efficient and effective services for example, full-fledged computerization becomes the order of the day, processing of loans and advances reduction in member of clearing day for clearing instrument.

However, to communicate these services effectively in enhancing profitability the need for advertising in Micro Finance bank becomes inheritable. Advertising which until this time had little or no significance in the banking industry becomes strong information and persuade tool to reach target customers.

1.1 Background of the Study

Advertising is one phrase that has been given different definitions by authors. A critical analysis of all the variable definitions shown that they have something in common.

Talking about the importance and relevance of financial services in every one’s life. This includes ordinary life circle events like, birth, marriage and deaths; it also includes the possibility to invest, to increase our wealth.

Micro finance target people who do not have access to the formal financial sector and are under-banked at the moment. This affects not only their economic activities but also improves their health, education and living circumstances. In the end, the overall objectives are to elevate poverty.

The practice of micro finance is not new and has probably been around for as long as currency itself has. Informal credit and savings services probably formed around social services where the members got together to help one another as a community. Savings and credit groups that have operated for Centuries include the “Susus” of Ghana, “Chit fund” in Idia, “Tarda” in Mexico, “Asian” in Indonesia, “Cheetu” in Sri Lanka tontines” in West Africa, and “Pasanaku” in Bolivia

1.2 Statement of the Problem

Generally speaking, the use of advertising is cost effective for promoting, bank services. Most crises, even executives in services firms see advertising as a massive waste and neglect its need when assessed against results.

There is also argument that advertiser designed to indulge customer against their wish. It is further argued that successful firms use heavy advertising to create a barrier to entry of smaller firms, to these successful firms gain monopoly of the market. These advertising view and crusade do not see the need for advertising in organization and the economy as a whole. These and some other problem are what the researcher set out to solve.

1.3 Objective of the Study

The researcher intends to find out the following:-

  1. Whether advertising is important to banking services especially micro finance bank Oko branch, Anambra State.
  2. Ways of improving the present use of advertising by micro finance banks.
  3. Media selection factors
  4. The best of combinational mix appeals.
  5. What makes customer to patronize the bank.

1.4 Significance of the Study

This research work will be great relevance and benefit to various categories. First, the banking industry, particularly the bank under the study can access the application of advertising to a service organization, like in view of new land on the industry, competition being a top phenomenon, and secondly, customer, which form the bedrock of any business is also taking into account in the research. They too will benefit as reaching them with the right combination of advertising programme action and result message sill stimulate action and result in the desire satisfaction they seek to derive from the industry.

Thirdly, lectures, students will derived maximum benefit from this research as the member of brokers and literature available looks scanty.

1.5 Assumption of the Study

These problems placed limitations on the author, though; they did not permanently render the study success. Thus areas the following assumption regarding the investments:

  1. That the respondents cooperated by giving the required information
  2. That the responses to the questionnaires were to the best of the respondents knowledge true and accurate.
  3. That the head of the marketing unit or the bank has adequate knowledge of the banks marketing practices.
  4. That the responses to the questionnaires in the branches chosen were representatives of the other branches not student.

1.6 Research Question

  1. What is the customers knowledge of the product or service in terms of its features?
  2. What is the degree of awareness of the product service or advertising campaign we have invested in?
  3. How acceptable is the advertising to the consumer?
  4. What is the image of the product or service in terms of whether the advertising has strengthened or weakened its image?
  5. What is recalled and it is essential in providing the customers with the relevant reassurance?
  6. Which aspects of the communication messages persuade the consumer to buy the product or use the company service?

1.7 Hypothesis

  1. Ho: The use of advertising does not enhance the quality of services to your business
    Hi: Advertising enhances the quality of services to your business.
  2. Ho: Workers effort is not justified with advertising.
    Hi: Advertising justified the effort of workers
  3. Ho: The use of advertising does not reduce cost in financial industry
    Hi: The use of advertising reduces cost in financial firms.
  4. Ho: Efficiency does not measure the advertising services
    Hi: Efficiency measures the advertising services.

1.8 Definition of Terms


According to Longman Advance Learners dictionary of contemporary English defines impact as the effect or influence that an event, situation e.t.c. has on someone or something.


Defined as non-personal form of communication, presentation and promotion of ideas, goods and services by an identified sponsor.


This is an organization that comes out business of banking such as keeping money and lending services.

Micro Finance:

Financial institution that receives savings and giving of loans or credit to SME at a small interest rate.

Chapter Five

Summary, Conclusion and Recommendations

5.1 Summary of Findings

In the cause of the study, there are so many findings and there are as follows:

That advertising is of immense to bank and some other financial bringing in more customers, creating public awareness, developing their company’s image, increasing their profit margin and helps them to fight competition. Again, it was equally found out that most Micro Finance Banks have no specific advertising budget. And that the cost of advertising somehow responsible for its non adoption usage by many other Micro Finance Bank.
Moreso, in the study, it was equally seen the need for the improvement of the present advertising campaign in the following light.

  • Re-organizing the radio and out door timing.
  • Making it more educative in nature
  • Making it more educative in nature

Finally it was found out that most of times banks that do not advertise their services embark upon personal selling as an alliterative.

5.2 Conclusion

In conclusion, advertising is of great importance to banks and other financial industries. This could be seen from the break down of information contained in the summary.

Again, there is relationship between the rate of adoption/usage of advertising and the cost involved.

Finally there is need that banks embark on advertising should do so on a yearly basis rather than monthly to avoid huge cost spent in advertising.

5.3 Recommendation

In the light of the above findings the following recommendations are made. Advertising should consider the possibility of a review on the cost involved in scheme. In the cause of the study, there should be establishment and introduction of advertisement in other branches of the bank.

Again this will lead to the bank having specified advertising budget where such exists it is usually communicated to the branch offices. Bank that do not advertise their services should be encourage to advertise therein. In order to be able to evaluate the effectiveness of the advertising campaigns vis-à-vis cost there should be a stated advertising budget.

5.4 Limitation of the Study

The researcher in an attempt to carry out in depth study encountered some constraints. These constraints include limited time available for the research and little finance. There are difficulties encountered in collection of questionnaire from respondents, among others.

5.5 Suggestion for Further Research

The researcher suggested the following to reflect transparency in Micro Finance Banks:

  1. Further research on this topic should be done in the head office of micro finance bank of Anambra State.
  2. A study should be conducted in order to fund out more effective promotion that win be combined to advertising.
  3. A study on the measure to be adopted from the competitive banks in order to increase its market share.
  4. Further research on this topic to be conducted in another state micro finance bank, to be able to drawn reactions and actions.

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