Effects Of Advertising Media On Customers Patronage Of Banking Services In Abia State, Nigeria (A Study Of First City Mounment Bank Plc)

ABSTRACT

The continuous reliance on advertising by financial institutions, suggests an appreciable level of trust as a communication tool. Advertising media which uses electronic energy to transmit information to the end user is called electronic media advertising. (Radio and Television). Advertising media in form of printed articles is referred to as print media (Newspaper and Magazines). The broad objective of this is to examine the Effect of Advertising Media on Customers' Patronage for Banking Service in Abia State, Nigeria (A Study of First City Monument Bank PLC). The specific objectives include describing the socio - economic characteristics of the respondents; to examine the impact of electronic advertisement on customers' patronage; to ascertain the impact of print media advertisement on customers' patronage and to evaluate the effect of advertisement in promoting banking services. The data was analysed based on the objectives of the study. Questionnaires were administered to 139 FCMB customers including branch managers and customer care personnel. Statistical Package for Social Sciences (SPSS) was used to analyse the data. Results from the analysis shows that majority of the respondents 39.56% strongly agree that print media (newspaper and magazines) have positive impact on advertisement of FCMB banking services in Abia state. The study also revealed that electronic media ads were carried out as a competitive strategy to promote the bank and increase its market share and exposure against competitors. It is therefore recommended that FCMB should also increase media for advertising from television and radio (electronic media) to bill board, posters and pamphlets so that advertising message will reach many people.