Comparative comparison of advertising effectiveness in public and private banks

Number of pages: 153 File Format: word File Code: 30837
Year: 2014 University Degree: Master's degree Category: Management
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    Dissertation for Master's Degree

    Business Management Department

    Abstract

    Effective advertising is one of the elements of the growth and development process in the banking system and has a direct relationship with the economic prosperity of the banking system. Evaluating the effectiveness of advertising in order to investigate its role in achieving banking goals can help the organization to implement changes in its operations and processes. Various tools and models are used to evaluate advertising and its effects, the most common of which are models of the hierarchy of effects. In this research, the communication process of Sepeh and Tejarat banks' advertisements has been evaluated in four media, television, radio, billboard and newspaper. For this purpose, the IDA model, which is one of the hierarchical models of effects, has been used. 384 questionnaires were distributed among the customers of Sepeh and Tejarat banks in Tehran, who were selected by simple random sampling, after verifying its reliability using Cronbach's alpha and validity through content validity. In order to check the findings of the research, one-sample mean comparison tests, Friedman test and Kolmogorov-Smirnov test were used. The results showed that television was the most important media for Bank Tejarat, and television has been more successful than other factors in the two dimensions of creating desire and action. The newspaper was introduced as the most important media of Bank Sepe and has been successful in attracting the attention of customers. Also, none of the banks have followed the hierarchy of the IDA model, that's why their advertisements have not remained in the minds of their customers. At the end, we have provided solutions to increase the effectiveness of banks' advertisements separately.

    Key words: qualitative effectiveness indicators of advertisements, advertising media, IDA model, Sepeh Bank, Tejarat Bank

    Introduction

    There are several factors in the banking industry that, if their implementation is satisfactory, the success of the organization's competitive performance will be guaranteed. Some of them are:

    The reputation of the bank and the favorable image of the services provided in the eyes of the public

    The security and safety of the bank in the perception of customers

    Establishing long-term relationships with customers

    Attracting deposits

    Paying for appropriate sales and promotion activities (Sefidaran and others, 2013)

    The above factors are some of the key success factors in the banking industry and effective advertising is able to It is to reflect them and influence the perception and quality of customers' decisions in choosing the bank and its services. Achieving effective advertising that can achieve the desired goals requires the organization to understand its various dimensions and create a logical connection between the nature and content of advertising and what advertising can reflect on services. Therefore, in this research, it has been tried to examine the various dimensions that are related to the evaluation of banking service advertisements in Tejarat and Sepah banks, and after choosing the appropriate model, select indicators to measure the communication goals of banking service advertisements, and based on the results of the analysis, and finally provide solutions to increase the effectiveness of Tejarat and Sepah banks' advertisements. In the role of market leadership. The growing trend of the number of banks and the similarity of the services provided by them, along with the increase in the requirements and expectations of financial services customers in order to achieve higher quality services, has intensified the atmosphere of competition between banks and has made banks struggle to achieve more and sometimes distinct competitive advantages. But without a doubt, achieving this goal involves a wide range of factors that are reflected in the operational structure of banks.

    Banks operate mainly in three areas:

    Equipping financial resources (receiving and paying all kinds of deposits)

    Using financial resources (creating credit and paying loans to individuals, institutions and governments)

    Other monetary and financial activities in the form of services (Venus and Safaian, 1384)

    Banks need to carry out marketing activities in each of these three fields and they need extensive studies to reflect the characteristics of banking services in line with marketing goals. In this regard, it should identify the needs and demands of customer groups and direct its forces to create a competitive advantage by focusing on what the bank offers.After determining the bank's marketing goals, its marketing policies are determined. Impersonal advertising is one of the tools used in this direction.

    Basic decisions in impersonal advertising are generally made as follows:

    Figure 1-1 Basic decisions of advertising program (Cutler and Armstrong [1], 1385)

    The importance and necessity of conducting research

    Today in our country, due to the low interest rate, which is even lower than Inflation rate is, they face a big problem to attract customers and as a result their deposits because many people are willing to use their capital in other things that are more profitable. Also, the increase in the number of banks and the provision of almost similar services has fueled this problem. Therefore, in this competitive environment, in order to maintain or increase their share of the market, banks must have a proper plan to present their advertisements, and they must pay attention that after the execution of advertisements, they do not assume that the program is finished and do not neglect the last and most important step, which is the evaluation of the effectiveness of advertisements. Unfortunately, in Iran, not much attention is paid to the evaluation of the effectiveness of advertising, the reasons for which are the newness of the advertising industry, the lack of sufficient information, the lack of familiarity of managers with the patterns and models for evaluating the effectiveness of advertising, and the lack of practical examples in this field (Houshmandi, 2014). Banking, the bank under study is a state bank, and such a research emphasizing the comparative comparison of a private bank and a state bank and examining multiple media at the same time was not found, and considering that at different times, Tejarat and Sepeh banks allocate a lot of funds for the implementation of their advertisements through various visual, audio, written, visual-audio media, and the first six months of 2013 was no exception to this rule, so it is necessary to conduct such a study and research regarding the review and evaluation of the effectiveness The advertisements of the mentioned banks are clearly felt with an emphasis on several media, so that they can be a guide and a guide for the future advertisements of these banks. Also, identifying the most important factor in increasing the effectiveness of advertisements and considering them when preparing the advertisement program can have a significant effect on improving advertisements and increasing its effectiveness and as a result the bank achieves its goal of attracting as many customers as possible, which is one of the other things that necessitates conducting such research.

  • Contents & References of Comparative comparison of advertising effectiveness in public and private banks

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    Table of Contents

    Chapter One: Research Overview

    Introduction...13

    Problem Definition...13

    Research Importance and Necessity...15

    Research Objectives...16

    Research Questions...17

    Definition of Operational Words 18. The temporal, spatial and thematic scope of research. 21. Statistical society. 26. Research method. 22. Data analysis method. 22. Application of research. 23. Limitations and obstacles of research. 23. Summary of the first chapter. Theoretical foundations and research background 25 Introduction 2-1 Service 26 2-1-1 Definition of service 26 2-1-2 Nature and classification of services 26 2-1-3 Division of services 27 2-1-4 Constituent elements of a service organization 28

    2-1-5 characteristics of banking services and services.29

    2-1-6 service marketing mix.31

    2-1-7 service components.32

    2-1-8 structure for service management decisions.33

    2-2 bank marketing..36

    2-2-1 definition of marketing.36

    2-2-2 marketing banking services.36

    2-2-3 pillars of marketing banking services.37

    2-2-4 banking marketing process.38

    2-3 customer and its role in the banking system.38

    2-3-1 types of customers.40

    2-3-2 building loyalty, satisfaction and creating value for customers 41

    2-4 comprehensive marketing communications. 43

    2-4-1 elements of comprehensive marketing mix. 43

    2-4-2 comprehensive planning model of marketing communications. 46

    2-5 advertising.

    2-5-3 types of advertising.51

    2-5-4 definition and classification of advertising variables.52

    2-5-5 advertising goals.53

    2-5-6 advertising goals in banking marketing.54

    2-5-7 factors affecting the increase of advertising effectiveness.57

    2-6 media..58

    2-7 Advertising effectiveness assessment models.61

    2-7-1 reaction hierarchy model.61

    2-7-1-1 IDA model.61

    2-7-1-2 impact hierarchy model.62

    2-7-1-3 innovation acceptance model.63

    2-7-1-4 information processing model 63

    2-7-2 Dagmar's approach. 64

    2-7-3 Crisp technique. 65

    2-7-4 Debilo.Belli model. 65

    2-7-5 Information expansion probability model. 68

    2-7-8 PSIP model 68

    2-7-9 RPG model 69

    2-7-10 Net effect model 70

    2-7-11 Ambler model 70

    2-7-12 Mackins and Jaroski model 70

    2-7-13 Understanding/Experience/Memory Model.70

    2-7-14 Van Model.72

    2-7-15 Walkcrest and Ambler Model.73

    2-8 Tests of Communication Effects of Advertisements.75

    2-9 Conceptual Model and Background of Research.77

    2-10 Conceptual Model of Research 78

    Chapter Three: Research Method

    Introduction.

    6-3 Determining the sample size and sampling method.88

    3-7 Validity and reliability of the research measurement tool.89

    3-8 Data analysis method.90

    9-3 Friedman test.90

    10-3 One-sample mean test.91

    11-3 Kolmogorov-Smirnov test.91

    Chapter Four: Research Findings

    Introduction ..93

    4-1 Data Description 94

    4-1-1 Distribution of Respondents by Gender 94

    4-1-2 Age Distribution of Respondents 95

    4-1-3 Educational Distribution of Respondents 96

    4-1-4 Occupational Distribution of Respondents 97

    4-2 Data analysis ..98

    4-2-1 checking the amount of access, allocation of quality time and recommendation of the media. 99

    4-2-2 Determining the importance of each of the indicators in the advertisements of Sepeh and Tejarat Bank. 102

    4-2-3 Ranking of the media considering the importance of each of the indicators. 106

    4-2-4 Reviewing the effectiveness of advertisements presented in the media. 107

    5-2-5 Determining the most important effective factor in increasing the effectiveness of Bank Tejarat and Sepeh advertisements. 108

    4-2-6 Identifying the most important factor influencing the choice of Bank Sepeh and Tejarat by customers.

    4-2-7 The recall rate of Bank Tejarat and Bank Sepeh advertisements. 114

    4-3 Total114

    4-3 Summary of the fourth chapter. 115

    Chapter five: Summary and conclusions and suggestions

    Introduction. 116

    5-1 Research results. 116

    5-1-1 What are the indicators of the qualitative effectiveness of advertisements in banks? 117.

    5-1-2 How important is each index? 118

    5-1-3 What are the qualitative effectiveness of bank advertisements? 119.

    5-1-4 What are the most important factors in increasing the effectiveness of bank advertisements? 121.

    5-1-5 What are the most important influencing factors in choosing a bank by customers? 122.

    5-1-6 How are banks' advertising media ranked according to indicators? 123

    5-2 Comparison of research results with previous researches. 125

    5-3 Suggestions based on research findings and providing solutions to increase the effectiveness of Bank Tejarat and Bank Sepeh advertisements. 126

    5-3-1 Providing solutions to increase the effectiveness of Bank Tejarat advertisements. 127

    5-3-2 Providing solutions to increase the effectiveness of Bank Tejarat advertisements. 127

    4-5 research suggestions for future research.130

    5-5 limitations of future research.131

    Appendices.132

    List of Persian sources.154

    List of Latin sources.159

    List of problems

    Figure 1-1 Basic decisions of advertising program 2-1 Different types of services. 27

    Figure 2-2 service organization as a system. 29

    Figure 3-2 8-P relationship with the decision-making management framework. 35

    Figure 4-2 of the comprehensive marketing communication planning model. L. M. 67

    Figure 7-2 Perception/experience/memory model. 71

    Figure 8-2 Van model. 72

    Figure 9-2 Walkerst and Ambler model. 74

    Figure 10-2 Conceptual model of the research. 4-2 Age frequency chart of respondents 94. Figure 3-4 Education frequency chart of respondents 96. Figure 4-4 Occupation frequency chart of respondents. 97. Source:

    List of Persian sources:

    Asadi, Dariush (1380), study of the effects of the implementation of commercial advertisements of Refah Bank on the rate of attracting customers of Karz al-Hasneh savings account in that bank, Tehran: Faculty of Management of Tarbiat University. Modares, master's thesis in management

    Ismailpour, Majid (2012), practical implementation of the use of marketers in banking services, Tehran: Terme Publications

    Amin Tahmasabi, Amin; Ghaffari, Sara; Amozdah Khalili, Hossein (1388), bank advertisements; Its reasons and effects on customer attraction, the first specialized conference of creative banking advertising, Tehran, Technology Studies Center of Sharif University of Technology:

    Iran Dost Sanei, Pooya (1384), investigation of the effectiveness of television advertisements for the new services of Bank Mellat, Tehran: Faculty of Management, University of Tehran, Master's Thesis of International Business Management

    Agha Bozerh Haddad, Mohammad (1378), Saderat Bank Quarterly, No. 46

    Agha Mohseni Fashmi, Ali (2008), Evaluation of the effectiveness of television advertisements of Parsian Insurance Life and Investment, Tehran: Faculty of Management, University of Tehran, Master's Thesis of Executive Management

    Bradaran Jamili, Bita (2010), Evaluation of the effectiveness of advertisements of Parsian Bank on customer attraction (comparative study of visual, audio and written media), Tehran: Payam Noor University, Center of Tehran, Master's Thesis of Business Administration

    Bozorgi, Nuruddin; light Nooruddin (2008), evaluating the effectiveness of bank advertisements on customer behavior, the first international conference on marketing of banking services: Biranvand, Hamidreza (2008), Marketing advertising management (methods and strategies) based on the perspective of integrated marketing communications, Tehran: Industrial Management Organization. Technology Studies Center of Sharif University of Technology

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    Jarad. Jay, Tellis (1386), The best method in effective advertising (translated by: Mohammadreza Salehi), Tehran: Farhang Mardom Publications.

    J. Silk, Alvin (1388), Marketing (translated by: Hamidreza Biranvand and Amir Shirvani), Tehran: Mehraban Publishing House.

Comparative comparison of advertising effectiveness in public and private banks