ASSESSMENT OF MARKETING STRATEGY PRACTICES IN THE CASE OF BANK OF ABYSSINIA S.C

Abstract

The aim of this study was to assess the marketing strategy practice of bank of Abyssinia. It describe how the marketing strategies were practiced in the company to achieve its goals aligned with target market, segmentation, positioning and the marketing mix to satisfy customer requirements. The research was carried out through the use of case study design employed by using both mixed approaches. Both primary and secondary data collection instruments were used to collect data. Closed ended questionnaire survey along with interview was used for the purpose of data collection. The selections of the respondents were carried out by using purposive sampling technique because no other departments were concerned about marketing strategies and the researcher took all the respondents of marketing staffs as a total population of the study.Data collected was analyzed using IBM statistics SPSS 21 software. Descriptive statistics was used and analyzed using methods of frequency distribution and percentage. The study findings indicate that bank of Abyssinian segments its market based on mainly geographic element, follows targeting strategy of differentiation, and there is good level of perception among consumers, the key factors that considered in setting pricing strategy is product value. Promotional practices are strong on advertising and sales promotion and, weak on other promotional tools. BOA’s’s staff are capable of implementing the marketing strategy of the company, but not highly capable. The major formulator of the company marketing strategy is marketing department. The major implementer of the strategy is all employees of the company and the major challenges on the implementation of the marketing strategy is communication problem, poor planning, lack of integration and lack of commitment.