THE IMPACT OF ADVERTISING IN A CORPORATE ORGANIZATION A CASE STUDY OF FIRST BANK OF NIGERIA PLC
ABSTRACT
The purpose of this study is to X-ray the uses of advertising in a corporate Organization in its areas of operation which mainly publics. But as a result of some constraints, this work has to be limited to the first Bank of Nigeria PLC only which is the case study. Chapter one contains a general discussion on background study of first Bank of Nigeria PLC and Advertising. The second chapter treats the literature reviews as it relates to advertising and corporate Organization . Chapter three deals with the research methodology and research design of the study, the method used and techniques of analyzing the questionnaires. The data got from the research survey were analyzed and interpreted. Also, similar questionnaires were compared. Finally, notes, the summary of findings, recommendations and conclusions, even bibliography made by the researchers are all in chapter five.
TABLE OF CONTENTS
CHAPTER ONE
INTRODUCTION
CHAPTER TWO
LITERATURE REVIEW 16
REFERENCES 30
CHAPTER THREE
3.1 RESEARCH METHODOLOGY 31
3.2 RESEARCH DESIGN 32
3.3 RESEARCH SAMPLE 33
3.4 MEASURING INSTRUMENT 35
3.5 DATA COLLECTION 35
3.6 DATA ANALYSIS 36
CHAPTER FOUR
CHAPTER FIVE
BIBLIOGRAPHY 62
CHAPTER ONE
INTRODUCTION
BACKGROUND OF THE STUDY
For proper understanding and perception of this work, it will be wise to trace the historical background of the bank under case study which is first Bank of Nigeria Limited, in line with background of uses of advertising .
Founded in 1894 by a shipping magnate from Liverpool, Air, Alfred Jones, the bank commenced as a small operation in the office of Elder Dumpster and company in Lagos State. It was in Cor-porated as a limited liability company on march 31st, 1894 with head office in Liverpool. It started business under the corporate name of the bank for British west African (BBWA) with a paid- up capital of 12,000 pounds sterling after absorbing its predecessor, the African Banking Corporation, which was established in 1892. due to the impressive growth they worked closely with the colonial government in performing the tradition function of a central bank such as issue of species in the west African sub- region.
To justify its west African coverage, a branch was opened in Accra, Gold Coat Ghana in 1896 and another in free town, sierra-Leone in 1899. These mark the Genesis of the bank’s operations. The second branch of the Bank in Nigeria in was in the old calabar of cross – river State in 1990 and two years later, services were extended to Nigeria, with a network of 315 branches opened throughout the branch network in the industry.
To satisfy the needs and services of its customers, first Bank of Nigeria has diversified into a wide range of banking activities and services. These include corporate and retail banking, Registration trusteeship and insurance brokerage. To take advantage on several restructuring initiatives. In 1957, it changed its name from bank of British west Africa to bank of West Africa.
In 1964, the bank was incorporated locally as the standard bank of Nigeria limited in line with the companies decree of 1968. changes in the name of the bank also occurred in 1979 and 1991, to first Bank of Nigeria limited and first Bank of Nigeria PLC respectively. In 1985, the bank introduced a decentralized structure with five regional administrations.
This was reconfigured in 1992 to enhance the bank’s operational efficiency in 1996, the bank introduced the FBN century II project to revolutionary its operations in line with the dynamic of the environment. The bank has continued to be leader in financing long term investments in the economy, which was demonstrated in 1947, when the first long- time loan was advanced to the colonial government . To demonstrate its commitment to its customers and the development of the Nigeria economy, the bank has since broadcast its loan and credit portfolios to various sectors of the economy.
The bank has tremendously judging from a number of parameters including number of branches, growth in deposit base, asset size and size of loans and advances.
BACKGROUND OF ADVERTISING
Advertising is not a new activity of modern industrialism but an ancient practices that goes back to the very beginning of recorded history. The diggings of a choreologists in the countries rimming the mediate area sea have turned up evidence of the use of sign to announce various events and offers. The Romans painted walls to announce forth coming gladiatorial contests and Phoenicians painted murals on prominent rocks along trade routes extolling the wares they sold, a precursor of modern out door advertising . In pomepeil, w wall has been found praising a politician and asking for the people’s vote.
Another early form of the people’s advertising was the use of town cries . In Greece during the Golden age, town criers were paid to circulate messages through the streets of Athens announcing the sales of stores, cattle’s and other goods as well as making public announcements.
An early singing commercials used in ancient Athens went as follows “for eyes that shinning, for checks like the dawn, beauty that last after girl hood is gone, for prices in reason, the woman who knows will buy her cosmetics of Aschypothes”. These town criers were the forerunner of radio as an advertising medium and the car louder speakers used by the modern political candidates.
The third early form of advertising was the mark placed by artisans on their individuals good such as pottery. As the reputation of particular artisan spread through word of mouth, buyers began to look for his distinctive mark just as trade marks and brand names are used today. They would pay a premium, for example, Osnabruck linen was carefully controlled for quality and commanded a price 20 percent higher than that of other westphalian linens, as production became more centralized and markets became more distant the mark or identifying name took on more significance.
The turning point in the history of advertising was in 1450, the year counter berry invented the printing press. No longer did advertisers have to produce extra copies of sign by hand. The first know printed advertisement in the English language appeared in 1478. starting in 1622, an important new medium gave advertising a substantial forward push namely the first English newspaper, the weekly news. Later, Joseph Addison and Richard Steele published the tellers and become devotes of advertising, Addison included this advice to copywriters.
The art of writing advertising is the finding out the method to catch the reader, without when a good thing may pass unobserved or be lost among commissions of bankrupts “ the September 14, 1710, issue of the tatter contained competitive advert for razor stops and patent medicine attempting to convince the readers of the products super entry over competing products.
Advertising had its greatest growth in the united states rather than English, Benjamin Franklin is often called the father of American becoming the cradle of advertising . first America industry led in the mechanization of production, which created surpluses and the need to convince the consumers to buy more. Second the development of fine network of water ways, highways and roads made the transportation of goods and advertising media to the countryside feasible.
Third, the establishment in 1813 of compulsory public education led to the decline of illiteracy and the growth of newspaper and magazine. The invention of radio and later television created two more amazing media for the dissemination of advertising.
1.2 STATEMENT OF THE RESEARCH PROBLEM
Corporate Organization has been embarking on advertising sells promotion, use of marketing mix even publicity to reach out to their public. Therefore, the statement problem is to know the uses of advertising in corporate organization, using first Bank PLC, as a study.
1.3 OBJECTIVE OF THE STUDY
Advertising messages of first Bann has been on throughout the nation through various media.
THE AIM OF THIS PROJECT IS :-
1. To know how messages advert helps in disseminating the services of first Bank PLC.
2. To Know whether corporate organization should continue in advertising.
3. To ascertain whether advertisement can attract new customers to the bank
4. To find out whether advertising is expensive or not.
5. To know the effects of advert messages on the publics .
The study will be of immense help to the following consumers, readers and researchers. The study will be of great benefit if first Bank Plc. Hence, it will help in evaluating the company’s advertising budget and its effect to the Bank.
Moreso, the study will be of benefit to the researcher but also to the reader. It will provide an in-depth knowledge for a better understanding in the uses of advertising in a corporate Organization.
1.5 RESEARCH QUESTIONS
This study is aimed at providing solutions and answers to the following research questions. The growth, expansion and sustenance of the case study (first Bank ) have been questioned as regards the uses of advertising in the upliftment of the corporate affairs.
1. Does the high rate of advertising that the corporate Organization, such as first Bank embark on determine the high rate of services to the public?
2. Does first Bank derive her dividend if she embarks on continuous advert.
3. Does the size of corporate Organization determines the type of media that is necessary for advertising?
Meanwhile advertising is son important to audience especially who makes use of the agency and department.
1.6 RESEARCH HYPOTHESIS
The following research hypothesis are to be tested so as to ascertain the extent of the effectiveness of advertising by corporate Organization, using first Bank as a case study.
1st NULL:
H01 The high rate of advert that the corporate Organization such as first Bank embark on, do not determine the high rate of services to the public.
1st ALTERNATIVE:
HH1 The high rate of advert that the corporate organization such as first Bank embark on determines the high rate of services to the publics.
2ND NULL
H02 First Bank does not derive her dividend if the embark on continuous advert.
3rd NULL:
HO3 The size of the corporate Organization does not determine the type of media that is not necessary for advertising.
3rd ALTERNATIVE
HH3 The size of the corporate Organization determines the type of media that is necessary for advertising.
1.7 DEFINITION OF TERMS
USES
Conceptual Definition
Uses means a purpose for which something is being done.
Operational Definition
Uses is the degree of advertising effects on first Bank of Nigeria PLC customers.
ii. ADVERTISING CAMPAIGN
Conceptual Definition
Advertising campaign is a process of crating awareness of a particular product and also persuading people to buy it.
Operational definition
Advertising campaign are messages directed to consumers.
Corporate
Conceptual definition
Corporate means united in a single group.
Operational definition
Organization
Conceptual definition
Organization share the same ideology
CUSTOMER CHOICE
Conceptual definition
This is the ability of the customers to decide between alternatives.
Operation definition
Customer choice here is the ability of the customers of first Bank to choose the bank from other Banks.
1.8 ASSUMPTION
The researchers assumed that the respondents in our sample population in this study have access to advertisement on any mass media . and that the advert they either sea, read or hear, have forced them into choosing first Bank as their banker.
It is also assumed that they are aware of the “advertisement” that first bank embarks on which this study is interested in. also we were motivated by the assumed existence of latent desire and inquisitiveness among respondents advertising acceptance based on media used and elements of the advertising message.
However, we are conscious of the obvious fact that most of the rural dwellers do not have access to the media used for this advert but we used the first Bank in Zik’s Avenue as our focal point because of the large population of mixed tribes as sample population. This sample is a concentration of respondent who are aware of what this research effort gets.
1.9 LIMITATION OF STUDY
To achieve the aim of this study, we are going to limit the number of the sample size. We also intend to do that so as to save cost, sometimes and avoid the problem of sampling the large size of the population.
The concentration of limited area of study will greatly enhance out data collection in this study.
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