Factors considered important in the successful usage of an advertising program

Abstract

This study reported was to find out the factors considered important in the successful usage of advertising program and the problems commercial banks in Kenya encounter in their efforts in using advertising to promote their services. The rationale of the study arose out of the fact that commercial banks in Kenya are now facing stiff competition from other financial institutions, which are now offering banking services. As a result, commercial banks are now aggressively advertising their services to an extent of even using musical instruments and are spending a lot of money. The study was a census study of all commercial banks. Data was collected using structured questionnaires, which were dropped and picked up at an agreed date and time. The data was analysed using descriptive statistics and Factor Analysis aided by Statistical Packages for Social Sciences (SPSS). The findings from the analysis led to the following conclusions: (a) The factors, which are considered important in the successful usage of Advertising program within commercial banks in Kenya, are: - 1. The bank should always consider the advertising medium to be used to reach the target audiencewhen setting advertising program. 2. Consideration should be based upon realistic advertising objectives, which the bank can attain. 3. The Marketing Manager should select appropriate target audience so that the advertising effort can be successful. 4. Consideration should be placed on advertising messages that are memorable. 5. It is difficult to measure advertising effectiveness on sales effect; therefore, the marketing manager should design appropriate measure on advertising - effectiveness such as the number of advertised account opened. 6. The advertisement should be timed to reach the target audience at an appropriate time when most of the audience is ready to see, hear or read the advert. 7. The Marketing manager should gather information from the intended customers before launching the advert because advertising financial services is very difficult. 8. Competitors' reaction should be anticipated before the advert is launched. (b) The problems, which the commercial banks in Kenya are facing in their advertising efforts, are: - (i) Bank specific advertising problems in order of their seriousness. Lack of advertising funds Lack of appropriate personnel Target audience not reached (ii) External specific advertising problems in order of their seriousness competition legislation/legal issues poor economic conditions The above results should be viewed and adopted in the light of the limitations of this study.