Full Project – THE INFLUENCE OF SALE PROMOTION ON EMPLOYEES PERFORMANCE IN AN ORGANIZATION

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CHAPTER ONE

INTRODUCTION

1.1 BACKGROUND OF THE STUDY

Sales promotion is important in marketing as away of increasing the demand for products or services. It is a substitute for price competition and as a way of differentiating similar products or services, Achumba (2000). Sales promotion is used frequently to improve the effectiveness of other promotional mix elements, especially advertising and personal selling.

Sales promotion along with advertising and salesmanship are the major techniques used in merchandising products/services to the public. Within the banking arena, sales promotion can be sued as an incentive to encourage potential and current customers to patronize different services/products offered by the banks.

Sales promotion is not only applicable in the product sector but equally useful in the service sector and the banking sector is no exception. Sales promotion is important, considering the ever increasing competitive banking atmosphere where “aggressive marketing strategy” is the order of the day.

Sales promotion devices are usually irregular. They make valuable contributions to marketing effectiveness by supporting advertising, personal selling and public relations activities and thereby increasing sales volume.

It’s often attracting brand switchers, who are primarily looking for low price, good vale or premiums. This is commonly seen in banks because of the competitive banking arena where banks have in their marketing strategy a policy attracting and retaining their customers.

Sales promotion are all around us as we are constantly faced with coupons, sweepstakes and prize-cuts that try to make products ever more appealing and induce us to make a purchase. These promotions can have dramatic effects. Firms’ sales promotions have been on a steady increase over the last decade, while a advertising expenditures have Shrunk by almost half. Tellis (1998) noted that sales promotion is any time bound program of a seller that tries to make an offer more attractive to buyers and requires their participation in the form of an immediate purchase or some other action.

Particular emphasis is laid on three (3) key banks relevant to the case study. The banks include: Access Bank PLC, Zenith Bank Plc and Standard Trust Banks, now United Bank for Africa Plc. The banks were used in analyzing the impact of sales promotion as a marketing strategy.

1.2 STATEMENT OF THE PROBLEM

Sales promotion ash been defined as short term incentives to stimulate selective demand for a product or brand. Thus, it is one of the promotional mix tools employed by an organization to boost or enhance sales of a rand.

Thus, the major problem of this research study is to find out the impacts or influences of sales promotion on the performances of employees on an organization.

Moreso, another problem of the study is to know whether sales promotion have effects on both the short term and long term performances of an organization.

1.3 OBJECTIVES OF THE STUDY

Ø To find out whether sales promotional activities as a marketing strategy can improve the banks performance in terms of customer base.

Ø To find out the best sales promotional tools as a marketing strategy relevant in the banks.

Ø To find out whether a sales promotional action can be sustained for a long time as a marketing strategy in the three selected banks.

Ø To effectively make recommendations on findings.

1.4 RESEARCH QUESTION

· What are the best sales promotional tool (s) used as a marketing strategy in the case study?

· What are the objectives of sales promotion in the three (3) case studies?

· Are the sales promotional tools used currently in the three (3) case studies improving the level of sales and actualizing the marketing objective desired?

1.5 RESEARCH HYPOTHESES

H0: Sales promotion does not improve sales/customer patronage.

Hi: Sales promotion improve sale/customer patronage

H0: Sale promotional efficiency does not result in improved profitability.

Hi: Sales promotional efficiency result in improved profitability.

1.6 SCOPE OF THE STUDY

This research work will be limited to the :impact of sales promotion as a marketing strategy, case study of three (3) selected banks (Access Bank Plc, Zenith Bank Plc and United Bank for Africa Plc)

1.7 SIGNIFICANCE OF THE STUDY

This research will be of great value to the management, personnel of rims within and outside the industry. It will assist them to determine the most effective sales promotional tools for not only the sake of improving customer patronage but also to improve on the level of profitability within the industry.

Additionally, this work will be immense value to student who are interested in carrying out research on related topics as far as the issue under investigation is concerned.

1.8 PLAN OF THE STUDY

The research will cover key participants in decision making in the respective banks. Here both primary and secondary data will be used. The primary source of data will constitute responses form questionnaire to be administered while secondary data is to be obtained through available material, relevant literature text books and other secondary data.

1.9 OPERATIONAL DEFINITION OF TERMS

Promotion: Promotion an element in the marketing mix (4Ps of marketing) is a set of marketing activity designed to boost sales condition. Within promotion there exist promotional mix such as:

Advertising, personal selling sales promotion, publicity and public relations.

Sales promotion: This is a program that makes a firm’s offer more attractive to buyers and require buyer’s participation.

Product: The term product is sued generally to refer to any good, service, idea, time or candidate that an individual or organization offers to another individual or organization.

Advertising: Advertising is the act of communicating a firm’s offer to customers by paid media, time or space.

Coupons: Coupons are certificates entitling the bearer to a stated saving on the purchase of specific product.

Price cuts: This is also called prize off deals. They are offers to consumers of saving off the regular prize of a product, a flagged on the label or package.

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Full Project – THE INFLUENCE OF SALE PROMOTION ON EMPLOYEES PERFORMANCE IN AN ORGANIZATION

Full Project – THE INFLUENCE OF SALE PROMOTION ON EMPLOYEES PERFORMANCE IN AN ORGANIZATION

Full Project – THE INFLUENCE OF SALE PROMOTION ON EMPLOYEES PERFORMANCE IN AN ORGANIZATION

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