Effect of promotion mix strategy on Market Growth A Case Study on Berhan Bank
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Date
2020-06
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Addis Ababa University
Abstract
This particular paper examines the effect of the relationship between the bank’s promotional strategies and its market growth and seeks to determine the importance of promotional mix strategies in explaining the bank’s market growth. The studies location was in Addis Ababa where half of the bank’s branch, staff and the head office is located. Any organization whether it is small, medium or big, without a competitive promotion mix strategy would not go far or cannot survive in the industry. In this particular study which is focused on Berhan Bank, the researcher aimed to know the effect of promotion mix strategies giving due attention for the first three mixes elements (advertising, personal selling and sales promotion) on the market growth of the bank. Both quantitative and qualitative approaches have been undertaken for the sake of the data collection. Primary and secondary data were collected and convenience-sampling method has been applied. A total of 127 questionnaire for the ten branches of Berhan Bank staff were distributed and 122 were received through e:mail and personal approach due to the pandemic COVID-19 situation which was started in Wuhan City china, in December 2020 and messing the world like never before. An application software named SPSS version 24 was successfully applied for the effect of a statistically proven data analysis and interpretation. Based on the regression analysis and correlation applied, all the null hypothesis are rejected accepting the alternative hypothesis were found statistically significant for the market growth of Berhan Bank. Most importantly, according to the employees’ response advertising has the highest effect on market growth. For the benefit of Berhan Bank, the researcher has given recommendations based on the findings for the marketing and corporate communication department, which is highly, and the primary responsible body concerning marketing issues so that they could work better for the market growth of their bank
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Promotion mix Strategies, Advertising, personal Selling