Response Of Customers To Sales Promotion: A Study Of Selected Deposit Money Banks In Imo State, Nigeria

ABSTRACT

The study investigated the response of customers to sales promotion of selected commercial banks in Imo State, Nigeria. The specific objectives were to; ascertain the influence of entry qualification on customers response to sales promotion; determine the effect of promo timing and duration on customers response to sales promotion; establish the effect of reward redemption process on customers response to sales promotion; discover the influence of reward value on customers response to sales promotion; prove the effect of promo awareness level on customers response to sales promotion; and ascertain the influence of promo presentation style on customers response to sales promotion.. To achieve the objectives of the study, survey research design was adopted. The researcher adopted primary data and used questionnaire as a tool in getting the required information. In testing the hypotheses, multiple regression models was used. The findings further revealed that there is a significant relationship between promo timing and duration and customers response to sales promotion. The findings further showed that there is no significant relationship between Reward Redemption Process and response to customers to sales promotion. The researcher recommended that Commercial Banks should closely pay attention to entry requirements of their sales promotion such entry requirements like minimum account balance, periodic deposit of a given sum of money or opening of new accounts (for prospective customers) should be one that is customer friendly and convenient to customers income, time and comfort. The researcher further recommended that Commercial Banks should carefully choose the right start and end dates for sales promotion that take into account major festive seasons. The duration of a sales promotion should be moderate-neither too long nor too short

TABLE OF CONTENTS

Title page ﾿ i

Declaration ﾿ ii

Certification ﾿ iii

Dedication ﾿ iv

Acknowledgement ﾿ v

Abstract ﾿ vi

Table of Content

CHAPTER ONE: INTRODUCTION

1.1 ﾿ Background to the Study ﾿ 1

1.2 ﾿ Statement of Problem ﾿ 3

1.3 ﾿ Objectives of the Study ﾿ 4

1.4 ﾿ Research Question ﾿ 4

1.5 ﾿ Research Hypotheses ﾿ 5

1.6 ﾿ Scope of the Study ﾿ 6

1.7 Significance of the Study ﾿ 6

1.8 ﾿ Limitation of the Study ﾿ 7

CHAPTER TWO: REVIEW OF RELATED LITERATURE

2.1 Conceptual Framework ﾿ 8

2.1.1 Meaning of Sales Promotion ﾿ 8

2.1.2 Banks Sales Promotional Tools ﾿ 11

2.1.3 Sales promotion and Consumer Behavior ﾿ 16 

2.1.4 Brand Loyalty ﾿ 17

2.1.5 Brand Switching ﾿ 18

2.1.6 Culture and Consumer Behavior ﾿ 18

2.1.7 The relationship between sales promotions and consumer buying behavior ﾿ 19

2.2 Theoretical Framework ﾿ 20

2.2.1 Technology Acceptance Model  ﾿ 20

2.2.2 Theory of Planned Behavior  ﾿ 20

2.3 Empirical Review ﾿ 21

CHAPTER THREE: METHODOLOGY

3.1 Research Design ﾿ 25

3.2 Area of the Study ﾿ 25

3.3 Sources of Data ﾿ 25

3.3.1 Primary source of data: ﾿ 25 

3.3.2 Secondary source of information: ﾿ 26 

3.4 Population of the Study ﾿ 26

3.5 Sampling Techniques and Sample Size ﾿ 26

3.5.1 Sample Size ﾿ 26

3.5.2 Sampling Techniques ﾿ 26

3.6 Description of Research Instrument ﾿ 26

3.7 Validity of the Instrument  ﾿ 27

3.9 Reliability of the Instrument ﾿ 27

3.10 Method of Data Analysis ﾿ 27

3.11 Model Specification ﾿ 27

CHAPTER FOUR: DATA PRESENTATION ANALYSIS

4.1 ﾿ Questionnaire Administration ﾿ 29

4.2 ﾿ Sample Characteristics ﾿ 30

4.3 ﾿ Data Presentation ﾿ 31

4.3.1 ﾿ Distribution of Respondents by Education ﾿ 31

4.3.2 Distribution of Respondents by Age Groups ﾿ 32

4.3.3   Distribution of Respondents by Marital Status ﾿ 32

4.4 ﾿ Analysis of Research Questions ﾿ 33

4.4.1 ﾿ Research Question one ﾿ 33

4.4.2 ﾿ Research Question Two ﾿ 33

4.4.3 ﾿ Research Question Three ﾿ 33

4.4.4 ﾿ Research Question Four ﾿ 34

4.4.5. Research Question five ﾿ 34

4.4.6 Research question six ﾿ 34

4.5 ﾿ Test of Hypotheses ﾿ 34

4.5.4 ﾿ Test of Hypothesis Two (Ho2) ﾿ 36

4.5.5. ﾿ Test of Hypothesis Three (Ho3) ﾿ 36

4.5.6 ﾿ Test of Hypothesis Four (Ho4) ﾿ 36

4.5.7 Test of Hypothesis Five (Ho5) ﾿ 37

4.5.8 ﾿ Test of Hypothesis Six (Ho6) ﾿ 37

4.6 ﾿ DISCUSSION OF FINDINGS ﾿ 37

CHAPTER FIVE: SUMMARY, CONCLUSION AND RECOMMENDATIONS

5.1      Summary ﾿ 40

5.2 ﾿ Conclusion ﾿ 40

5.3 ﾿ Recommendations ﾿ 40

REFERENCES

APENDICES