A survey of attitude of consumers towards the promotion mix by co-operative bank of Kenya ltd on jumbo junior product

Abstract

This survey was conducted to establish the attitude of consumers towards the promotion mix by Co-operative Bank of Kenya Ltd on Jumbo Junior product. Specifically, the objective of this study was to establish the extent of consumer awareness, determine the consumer feelings and determine actions towards the Jumbo Junior product promotions conducted by Co-operative Bank of Kenya. The study covered the three components of attitude mainly the cognitive, affective and conative in relation to promotion tools of advertising, sales promotion, publicity and public relations, personal selling and direct marketing. The population of interest for this study comprised the entire Jumbo Junior account holders (parents) who bank with branches of Co-operative Bank at Cannon House, Cooperative House and University Way. A sample size of 200 customers was used. Primary data was collected from 162 respondents selected from random sampling from the predetermined branches of Co-operative bank of Kenya. The primary data was used in the study and this was collected using a questionnaire comprising both open and closed ended questions. Collected data was analysed by use of descriptive statistics. These include tables, bar charts and percentages to represent response rate on information collected. Tables of frequencies were summarised to determine consumer attitude towards promotional tools used by Co-operative bank on its Jumbo Junior product. The response rate was 81% against a target of 200 respondents. The findings of the study were that the consumers are aware and knowledgeable about Jumbo Junior product promotions used by Co-op Bank. Advertising scored the highest with 80% followed closely by Direct Marketing at 79%, Publicity and Public Relations at 61%, Sales promotion at 21% and Personal selling at 16%. Consumers also showed preference for Advertising, Publicity and Public Relations and Direct marketing in that order as the respondents agreed strongly to the statements stated about the promotional tools respectively. However, low preference was registered in personal selling and sales promotions in that order. The research further revealed that 57% of the respondents were influenced by product promotions to open the Jumbo Junior account. It is therefore necessary that marketers develop product promotions that emphasise on influencing the consumers' attitude positively and should incorporate gender and age to be able to reach consumers effectively. This study was conducted in Nairobi and in selected branches of Co-operative bank and therefore cannot be used to generalise the observed consumer's attitude to apply in rural areas and other industry players. The study also covered the three components of attitude that consumers may express towards a product or an object. It is recommended that any further study should be widened to cover other banks that provide a similar product in Kenya, to see whether the said promotional tools effective in Jumbo Junior product are also effective to their children's banking products. It is also advisable that specific component of attitude is studied towards a specific promotional tool and its effects analysed specifically to determine their effects to Jumbo Junior or better still towards children's banking products and how positive attitude can be generated.