UI Postgraduate College

INTEGRATED MARKETING COMMUNICATION AND BRAND POSITIONING OF SELECTED NIGERIAN COMMERCIAL BANKS IN IBADAN

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dc.contributor.author ADESANOYE, Oluwafemi
dc.date.accessioned 2020-12-22T11:37:27Z
dc.date.available 2020-12-22T11:37:27Z
dc.date.issued 2018-09
dc.identifier.uri http://hdl.handle.net/123456789/542
dc.description.abstract Nigerian commercial banks have employed Integrated Marketing Communication (IMC) strategies to remain competitive in the industry. Studies on the use of IMC in the Nigerian banking industry have concentrated on the banking consolidation efforts and the marketing mix with little attention paid to the role of IMC on the brand positioning objectives of commercial banks in the country. Therefore, the extent of integration of marketing communication strategies in commercial banks in Ibadan was examined in order to establish customers’ perception of the banks’ brand positioning and customers’ patronage and loyalty. The Hierarchy of Effects models, Alternative Response Hierarchy models and the Systems theory provided framework while survey design was adopted. Based on the industry ranking and classification of Nigerian banks, Guaranty Trust Bank (GTBank), Stanbic IBTC Bank, First City Monument Bank (FCMB) and Wema Bank in Ibadan were purposively selected for the study. An Integrated Marketing Communication and Brand Positioning Questionnaire (IMCBPQ) was administered to 1071 purposively selected customers who had patronised the banks for a minimum of three years. Four Focus Group Discussion sessions (one for each bank) were held with 32 customers of the banks. In-depth interview sessions were conducted with the four Corporate Communication Managers (CCM) of the banks. The quantitative data were analysed using descriptive statistics, Analysis of Variance (ANOVA) and Pearson Product Moment Correlation Coefficient at 0.05 level of significance, while qualitative data were analysed using the Thematic Content Analysis Approach. The banks used the five basic IMC strategies to reach their customers: Advertising - Television adverts (28.4%), Direct Marketing - Short Message Service (38.1%), Public Relations/Publicity - Newsletter (25.4%), Sales Promotion - Loyalty Awards (27%) and Personal Selling - Visit by Sales Agents (51.5%). The level of awareness of the IMC strategies of the banks among customers was high (Stanbic IBTC Bank (93.6%); GT Bank (86.1%); Wema Bank (78.3%); and FCMB (50.1%)] customers. Customers’ perception of IMC strategies positively correlated with customers’ attitudes to the banks (usefulness of information: r=.087; sufficiency of information: r=.065; integration of banks’ messages: r=.236; and IMC media as waste of resources: r=.229). The IMC strategies strongly influenced customers’ patronage and loyalty [F(3,1067)=76.428]. Three communicated brand positioning attributes (customer service: r=0.093; relationship with customers: r=0.121; and reasonable charges: r=0.183) positively correlated with customers’ perceived experience. The CCM confirmed that loyalty, patronage, brand visibility and increased customer base led to brand equity. Participants confirmed that other factors such as service, location of banks’ branches and pricing (marketing mix) influenced their patronage of the banks. They explained that short waiting time in the banking halls, a conducive location and ease of access to banks’ branches, and moderate charges on customers’ transactions encouraged them to patronise the banks. Although Integrated Marketing Communication strategies positively influenced customers’ perception, patronage and loyalty, banks could benefit more by employing other marketing mix elements such as service, locations of banks’ branches and pricing. en_US
dc.language.iso en en_US
dc.subject Brand positioning attributes, Customers’ perception, Marketing mix, Nigerian banking industry en_US
dc.title INTEGRATED MARKETING COMMUNICATION AND BRAND POSITIONING OF SELECTED NIGERIAN COMMERCIAL BANKS IN IBADAN en_US
dc.type Thesis en_US


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