ASSESSMENT OF ADVERTISING PRACTICE: THE CASE OF UNITED BANK

Abstract

This research was conducted to assess advertisement practice of the United Bank. A total of 350 questionnaires were administered to customers of United Bank in 17 branches of Eastern district and 300 questionnaires were returned and usable for the analysis. At the same time a total of 150 questionnaires were administered to employees of the bank in the above-mentioned branches and 120 questionnaires were returned and usable for the analysis. Primary and secondary sources of data were used for this study. The primary data are collected through semi-structured questionnaire& interview and the secondary is collected from various journals, broachers, and other sources which are primarily done by others. The advertisement practice is briefly discussed with its gaps. Moreover, awareness and consumer behavior towards the bank advertisement tactic is analyzed. Descriptive research has been used to describe the position of the advertisement practice based on the responses from questionnaire and interview. From the investigation it is concluded that since the bank does not develop any advertisement strategy document, whatever things done under the title of advertisement shall be considered as something without objective, no segmentation as well as targeting and without an image to position in the mind of the prospective and actual customer. With regard to the advertisement expense; the advertisement expense is in minimum ration against the profit. In addition to this the result of overall customers and employees perception about the advertisement practice of the bank is below average i.e. the majority of the respondent feel that the advertisement practice is not satisfactory. The study suggests that the bank must develop an advertisement strategy so as to maximize its profit, conduct research to have a better understanding about customer’s awareness level of the bank advertisement tactics, should understand the specific requirement of customers, should participate employees who has a direct communication with customers in making the advertisement strategy and the bank should bench mark other banks advertisement strategy in order to produce adequate advertisement strategy