The Role of Advertising in Motivating Consumer Brand Preference for Banking Services in Eco bank Nigeria Ltd

Concerned for the stiff competition in the banking industry, this study set out to determine the role of advertising in motivating consumers’ preference for the Eco bank brand, using the Hotel Presidential branch of the bank in Port Harcourt as a test case. The survey research used the availability sampling technique to draw a sample of 200 subjects from the customers’ population of 2,700 to participate in the study. The data gathered with a questionnaire were analyzed with percentages, frequency distribution tables; weighted mean scores (WMS) and the chi-square. The findings showed, among other things, that advertising is the most motivating factor for the consumer’s preference for Eco bank as a brand and for the consumers’ purchasing power of Eco bank advertised products. From the findings, it was concluded that whereas advertising is the most motivating factor for the consumers’ purchasing power of Eco bank services, the preference for Eco bank as a brand is not significantly tied to their exposure to advertising messages, meaning that advertising is one but not the only factor in the motivation of consumers in their preference for the Eco bank brand. It was, therefore, recommended that in planning any advertising campaign, Eco bank should not expend all its financial resources on that venture as advertising is not some magic wand to cause maximal interest both in Eco bank as a brand and in the bank’s products and services. A further recommendation was that the bank should concentrate on the use of television in any advertising campaign since of all the advertising media used by the bank, television proved to be the most effective.

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