Assessment of the Performance of Promotional Tools In Informing, Persuading & Reminding Customers: A Case of Ethiopian Insurance Corporation
No Thumbnail Available
Date
2019-06
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
A.A.U
Abstract
The purpose of this research project is to assess the performance of promotional tools adopted by the
Ethiopian Insurance Corporation (EIC) in respect of informing, persuading and reminding its
actual and potential customers. The study dealt with the promotional elements i.e. advertising,
sales promotion, personal selling and public relations practices of EIC. The study focused on
customers in Addis Ababa and conducted by distributing questionnaires to be completed by EIC’s
customers. In this study mixed research approach was used in collecting and analyzing data.
Because the study uses both qualitative and quantitative forms of research. The populations for
the study were 384 insurance policy holders who have bought insurance cover from the corporation.
Data for the study was collected quantitatively using questionnaires and qualitatively through
observing and understanding the corporation’s promotion performance. Primary data was obtained
by distributing questionnaires to customers when they came to the corporation’s districts and
branches in Addis Ababa. The collected data were analyzed using SPSS to determine whether the
promotion tools used by EIC meet the intended objectives. Descriptive statistics including mean,
frequency, standard deviation and percentages were applied. The reliability of the tool applied was
tested and a Cronbach alpha value of 0.964 has been obtained. The study found that promotional
tools adopted by EIC are informative, persuasive and reminding at moderate level. But personal
selling took the highest level followed by advertisement, sales promotion and public relations
respectively. On the other hand from public relations instruments press release and press conference are
performed at lower level. The study recommends that though, the promotion elements meet promotion
objectives at moderate level, the corporation needs to work hard to increase the tools’ informing, persuading
and reminding effect to the highest level to attract new customers and retain the existing one, so as to win the
competition in the market.
Description
A Research Project Submitted To Addis Ababa University
College Of Business And Economics In Partial Fulfillment Of
The Requirements For The Degree Of Masters Of Business
Administration (Specialize In Financial Services
Keywords
Advertising, Promotion, Personal Selling, Public relations, Sales Promotion