This project aims at focusing on the
role of advertising of bank products on bank profitability, it was
written primarily using United Bank for Africa as a case study. The
project contains five chapters, the introduction of the topic which
deals with Background of the study, statement of the problem, Research
question, Limitation of the study and historical background of United
Bank for Africa. The literature review, where we defined advertising
types of advertising and essence of Advertising as a role of
advertisement of bank product. The research methodology try to explain
how data are collected and process together with the strategic employed
in the research, research design, instrument of data collection and
method of data collection. The analysis of result was presented using
T-test method which discuss the result and the policy issue concerning
the project. The write-up recommendation and conclusion deal with
bringing out the main point of the project.
advertising includes advertising performed by banking institutions. Apart from
advertising address to bank customers, this category may also include business
reports, information brochures of announcements on payment of new shares,
reports on investment program results and several other financial announcements
The first type contains dominant
psychological message, while the latter involves factual or logically
verifiable messages, in order to impact banks product and service to current
and potential customers. The selection of banking advertising
means depend on a bank’s targets group. Most banking institution address their
advertising to holders of small account and this advertise their product and
service through the mass media. The press and television are the preferred
means for larger banks that have branches across the country. Advertisement on
investment programs usually appear in almost all the circulation newspaper as
they are addressed to small investors. Many banking institutions rent space in
several exhibition and print information brochures to describe their activities
OF THE STUDY
Normally the general public today,
believe that for a business organization or enterprises to survive, make profit
and even achieve it’s aims and objectives it has to go through advertisement.
However, this system is needed by profit
making organization to make their products and services popular and known to
the people so that majority of the people can be turned to customers.
Advertising, in this case can be simply
defined or said to be the publishing of a particular product or services of a
business organization in order to gain the heart of the customers with the aim
of making profit. Advertisement of the bank improve the economic development of
a country. Therefore, advertising is an important aspect of business formation
and growth. It even determines the survival of a bank or an establishment. After a careful analysis, to think about the
quality of the bank product or service need with references to the taste of
All these facts started above must be in
place before the bank comes up with a perfect means of advertising techniques
that will totally boost the product of banks completely. Advertisement can be a useful tool to
promote your product above that of competitors. It serves as a promotional tool
in any organization that has to aim and objectives of profit maximization. For
a bank to last long, its products in the market must undergo certain
OF THE PROBLEM
individuals in the word today do not believes in advertisement as a promotional
tools of making profit in business organization . This is as a result of the
fact that they believe advertising is just to show case product to entire
public in order to make profit. But it is unfortunate that even large
establishment still lack the mentally of getting their product advertised,
instead, they only engage their product in sales promotion which will definite
fade out within as short time. An adage says that “free things are inferior”
that is to say they are not valuable to the customers. Let’s take a critical
look at problems faced by the bank.
- Lack of awareness of the common duty.
- Much value or services by the consumers
- Risk of loosing the customers.
This study will attempt to provide answer to the following research
questions, which are as follow
is the relationship between advertising and bank growth?
can a bank make best of advertising to its own advantage?
iii Is it true that lack of
advertising contributes to the failure of a bank or business organization?
there any relationship between advertising and bank product?
1.4 OBJECTIVE OF THE STUDY
of this study are as stated below:
To find out if there is any relationship
between advertising and bank products.
To make appropriate research on various
advertising media which are of good importance to bank product?
To look at how advertising led to bank
OF THE STUDY
This research will focus mainly on the
issue concerning advertising as a promotional tool in relation to the success
and survival of bank products.
This study meant to see into ways by
which United bank for Africa (UBA) goes about advertisement in order to obtain
the essential market share.
OF THE STUDY
The following factors sees as
constraints to the research while carrying out this study.
i. Time constraint
ii. Financial factor
1.7 HISTORICAL BACKGROUND OF UNITED BANK FOR
AFRICA (UBA) PLC
of United Bank for Africa (UBA) dated back to 1949 when the British and French
Bank Limited “BFB” commenced
business in Nigeria. Today, United Bank for Africa Plc (UBA) is the product of
the merger of Nigeria’s third (3rd) and Fifth (5th) Largest banks,
namely the old UBA and the Standard
Trust Bank (STB) respectively and a subsequent acquisition of the erstwhile
Continental Trust Bank Limited (CBT). The union emerged as the first successful
corporate combination in the history of Nigeria banking.
United Bank for Africa (UBA) back to
1948 when the British and French Bank Limited commenced business in Nigeria and
the erstwhile STB and CTB both in 1990. Following Nigeria’s independence from
Britain, UBA was incorporated in 1961 to take over the business of British and
French Bank (BFB). Although today’s UBA emerged at a time of industrial
consolidation induced by regulation. The consolidation UBA was borne out of a
desire to lead the domestic sector to a new era of global relevance by
championing the creation of the Nigeria consumer finance market, leading a
private/public sector partnership at supporting the acceleration of Nigeria
economic development and growing the institution from a banking to a one-step
financial services institution. While spearing its footprints across Africa to
earn the reputation as the face of banking on the continent.
Today, United Bank for Africa Plc (UBA),
having adopted the holding company model is one of Africa’s leadings financial
institution offering universal banking to more than 7.2 million customers
across 750 branches in 18 Africa countries with presence in New York, London
and Paris and assets in excess of $ 19 bn, UBA is your partner for banking
services for Africans and African related business globally.
UBA has the largest distribution network
in Nigeria with over 6.5 million customers in personal, commercial and
corporate market segments. As of 30 September 2008, it had over 650 business
offices, 296 deployed POS and 1332 ATMS and pioneered cheque acceptance ATMS in
Nigeria. Its over 14,000 staff globally are also referred to as “Lions and
Lionesses”. Regionally, the group has a presence in 18 African countries and in
all major financial centres. The bank currently operates in Nigeria, Ghana,
Ivory coast, Cameroon, Sierra Leone, Liberia, Uganda, Benin, Burkina Faso and
Senegal and has unfolded plans to expand its banking operations to 15
additional countries in Africa come 2009. Records indicate that UBA is the only
Sub-Saharan bank with dual presence in the U.S and the U.K.
basics terms used in this particular research project include the followings;
is any means aimed at persuading member of the
to procure or purchase of a particular product or services.
ii. CONSUMER:- This is the person to which
the advertisement and products/services are directed.
iii PROMOTION:- According to Adewoyin O.A
(2004) promotion Is any techniques that are persuasive communication,
favourable information about sellers product to potential buyers. It also
provides a basis for all activities of the organization that are perceived in
the market. But in planning their communication, promotion by definition, is
any techniques that persuasively convince the consumer to buy.
This is a kind of equipment used for listening to programmes that
are broadcast to a
large heterogeneous audience. It is also a process of sending and receiving
messages through the air using electro-magnetic waves. It is an electronic devices which brings to us
information, education, entertainment, persuasion, selling, educative, news
interpretation and persuasive programmes it is a great communicating mechanism
ever designed and operate by man.