The effect of promotional strategies on the performance in the banking sector:

Abstract

This study assessed the relationship between promotion strategies and Performance in the banking sector of Standard chartered bank. The specific objectives of the study were: To establish the effect of advertising on the performance of commercial banks, to examine the effect of public relations strategy on the performance of commercial banks and to find out the effect of personal selling on the performance of commercial banks. The study adopted the case study design with quantitative and qualitative research techniques. A total sample size of 50 respondents from Standard Chartered Bank was used. Self-administered questionnaires and face to face interviews were used to collect data. Data was coded and later processed and analyzed. From the study it was revealed that increasing the amounts and efforts spent on the different promotional strategies such as advertising had effect on the improvement of performance of the organization. The study also stated that promotional strategies contribute greatly to the performance of organizations evidenced through public relations and personal increasing return on investment to the organization; and also strengthening the brand image of the company’s products. Finally it was recommended that it is important to ensure coordination in dealing with performance measured by customer satisfaction. The research also recommended that mangers should pay attention to the personal selling strategies by studying the objectives to match the customers’ needs and wants. Further, the organization management should set trainings for the employs on how to be good salesmen