Marketing Communication Tools And Savings Mobilization Drive Of Selected Microfinance Banks In Akwa Ibom State, Nigeria

ABSTRACT The competitive landscape in the Microfinance Banking Industry has accentuated the need for effective marketing communication strategy in the marketing of bank services. The objective of this study was to examine the effect of marketing communication tools on the savings mobilization drive of microfinance banks in Akwa Ibom State. To achieve this objective, data were collected using a survey of 400 respondents drawn from the bank branch/cash centres marketing managers, selected staff and customers. 400 copies of the questionnaire were retrieved in useable form representing 100 percent and data analyzed using the simple Regression Model (SRM). Data generated from the study were processed, using descriptive and inference statistics and hypotheses tested with linear regression at 0.05 level of significance. Findings revealed that sales promotion, advertising, publicity and personal selling had significant influenced on savings mobilization drive of microfinance banks in Akwa Ibom State. Based on the findings of this study, the following conclusions were established. Marketing communication tools had significance influence on the savings mobilization drive of Microfinance Banks. This means that increasing efforts in marketing communication potentials of microfinance banks will also yield a corresponding increase in savings mobilization.  Thus, we recommended that managers of microfinance banks should enhance effective use of marketing communication tools  strategies to increase savings mobilization drive of microfinance banks.

TABLE OF CONTENTS Title pagei Certificationii Declarationiii Acknowledgementsiv Table of contents v List of tables viii Abstractix
CHAPTER 1: INTRODUCTION 1.1Background to the Study1 1.2Statement of the Problem2 1.3Objective of the Study3 1.4Research Questions4 1.5Hypotheses 4 1.6Significance of the Study 5 1.7Scope of the Study5 1.8Assumptions 6 1.9Limitations of the study7 1.10Operational Definition of Terms8
CHAPTER 2: REVIEW OF RELATED LITERATURE 2.1Conceptual Framework9 2.1.1   Concept of marketing communication 9 2.1.2The concept of savings mobilization 2.1.3Relationship between marketing communication variables advertising, personal selling, sales promotion and publicity and savings mobilization 2.1.4Relationship between marketing communication variables and savings mobilization 14 2.1.5Advertising and saving mobilization drive15 2.1.6Sales promotion and saving mobilization drive16 2.1.7Public relations and saving mobilization drive17 2.1.8Personal selling and saving mobilization drive18 2.2Theoretical frameworks22 2.3Review of empirical studies35 2.3.2   Acha Ikechukwu A. (2012) microfinance in banking in Nigeria 2.3.3   Oke, M. O. (2012) marketing strategies and bank performance in Nigeria37 2.3.4 Ibok, N. I. and Etuk, Samuel G. (2013) assessing the marketing orientation Of microfinance banks in Akwa Ibom State 2.3.5 Ekankumo, B. Henry, K. (2011) sales promotion strategies of financial institutions38 2.4   Summary of and gap in literature review
CHAPTER 3: RESEARCH METHODOLOGY 3.1Research Design41 3.2Population of the Study41 3.3Sampling Technique and the Sample Size41 3.3Research Instrument-------43 3.4Validity of the Instrument 43 3.5Reliability Test of the Instrument44 3.6Measurement of Variables44 3.7Sources of Data Collection50 3.8Method of Data Analysis50 3.9Model Specification51 3.10 Test of Hypotheses53

CHAPTER 4: DATA PRESENTATION, ANALYSIS AND DISCUSSION OF FINDINGS 4.1.Questionnaire Administration   55 4.2 Testing of Hypotheses 60 4.3Discussion of Findings 66 4.3.1Sales promotion and savings mobilization drive of microfinance banks67 4.3.2 Advertising and savings mobilization drive of microfinance banks 4.3.3 Publicity and savings mobilization drive of microfinance banks 68 4.3.4 Personal selling and savings mobilization drive of microfinance banks68
CHAPTER 5: SUMMARY, CONCLUSION AND RECOMMENDATION 5.1Summary of Major Findings69 5.2Conclusion70 5.3Recommendations70 5.4Suggestion for Further Studies71
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