(A CASE STUDIES OF SOME BANKS)

ABSTRACT

The study examined the influences of sales promotion of an employee in an organization. The research problem involves an investigation of the extent of which sales promotion influences an employee performances.

The extant literatures were reviewed, directly look at inducing retailers, consumers and sales persons by offering incentives or adding value for a product of interest, sales promotion encompass all promotional activities and materials excluding personal selling, adverting and public relations and publicity.

The method of analysis used in this research include descriptive analysis and non­parametric statistical methods, suchas percentages, chi-square test (X2) spearman rank order correlation were logically tested and interpreted with the support of most relevant questions inthe table accepted.

The result of the findings indicate that there is a significant relationship between sales promotion and sales performance and overall growth of the organization.

In conclusion, it was recommended that for any companies to-break even or make profits, such organizationmust intensify efforts on promotional activities achieve high sales.

TABLE OF CONTENTS

Title page                                                                                                 i

Certification                                                                                   ii

Dedication                                                                                      iii

Acknowledgement                                                                        iv-v

Abstract                                                                                          vi

Table of content                                                                            vii-ix

CHAPTERONE

Introduction

1.1    Background of study                                                                    1-3

1.2    Statement of the problem                                                   3

1.3    Purpose of the study                                                           3

1.4    Research questions                                                             3 – 4

1.5    Research hypothesis                                                           4

1.6    Scope of study                                                                     4

1.7    Significance of study                                                          5

1.8    Plan of study                                                                         5

1.9    Operational definition of terms                                         5 – 6         

References                                                                                               7

CHAPTER TWO

Literature Review

2.0    Introduction                                                                          8

2.1    Overview of the study                                                                  8-9

2.2    Promotional practices                                                         9-16

2.3    Depressed Economy                                                           16-17

2.4    Relating marketing to economic depression                            17

2.5    Definition of sales promotion                                            17-18

2.6     The nature of sales promotion                                                19-22

2.7    Purpose of sales promotion                                                    22-25

2.8     Importance of sales promotion                                               25-28

2.9    Demerits of sales promotion                                          28-29

2.10 Designing sales promotion programmes                                 29-30

2.11 Major decision involved in sales promotions                          30-32

2.12 Sales promotion tools                                                             32-37

2. 13 Sales promotion method of retails                                          37-40

2.14   Major decisions involved in sales promotion                          40-44

2.15 Review of banking industry in Nigeria References                  44-45

CHAPTER THREE

Research Methodology

3.1    Introduction                                                                            48

3.2    Restatement of the research question                                      48-49

3.3    Restatement of research hypothesis                               49

3.4    Population of the study                                                           49-50

3.5     Sample size                                                                             50

3.6     Sample design and procedures                                                50

3.7    Sources of data collection                                                        50-51

3.8    Data collection instrument                                                      51

3.9    Questionnaire administration                                        51-52

3.10 Procedure for processing and analyzing collected data 52-53

3. 11 Method of data analysis                                                          53-54

3.12 Limitation of study                                                                  54

Reference                                                                                          55                                 

CHAPTER ONE

INTRODUCTION

1.1    BACKGROUND OF THE STUDY

Sales promotion is important in marketing as away of increasing the demand for products or services. It is a substitute for price competition and as a way of differentiating similar products or services, Achumba (2000). Sales promotion is used frequently to improve the effectiveness of other promotional mix elements, especially advertising and personal selling.

Sales promotion along with advertising and salesmanship are the major techniques used in merchandising products/services to the public. Within the banking arena, sales promotion can be sued as an incentive to encourage potential and current customers to patronize different services/products offered by the banks.

Sales promotion is not only applicable in the product sector but equally useful in the service sector and the banking sector is no exception. Sales promotion is important, considering the ever increasing competitive banking atmosphere where "aggressive marketing strategy" is the order of the day.

Sales promotion devices are usually irregular. They make valuable contributions to marketing effectiveness by supporting advertising, personal selling and public relations activities and thereby increasing sales volume.

It's often attracting brand switchers, who are primarily looking for low price, good vale or premiums. This is commonly seen in banks because of the competitive banking arena where banks have in their marketing strategy a policy attracting and retaining their customers.

Sales promotion are all around us as we are constantly faced with coupons, sweepstakes and prize-cuts that try to make products ever more appealing and induce us to make a purchase. These promotions can have dramatic effects. Firms’ sales promotions have been on a steady increase over the last decade, while a advertising expenditures have Shrunk by almost half. Tellis (1998) noted that sales promotion is any time bound program of a seller that tries to make an offer more attractive to buyers and requires their participation in the form of an immediate purchase or some other action.

Particular emphasis is laid on three (3) key banks relevant to the case study. The banks include: Access Bank PLC, Zenith Bank Plc and Standard Trust Banks, now United Bank for Africa Plc. The banks were used in analyzing the impact of sales promotion as a marketing strategy.

1.2    STATEMENT OF THE PROBLEM

Sales promotion ash been defined as short term incentives to stimulate selective demand for a product or brand. Thus, it is one of the promotional mix tools employed by an organization to boost or enhance sales of a rand.

Thus, the major problem of this research study is to find out the impacts or influences of sales promotion on the performances of employees on an organization.

Moreso, another problem of the study is to know whether sales promotion have effects on both the short term and long term performances of an organization.

1.3    OBJECTIVES OF THE STUDY

Ø To find out whether sales promotional activities as a marketing strategy can improve the banks performance in terms of customer base.