Promotional mix and business performance in the Uganda Banking Industry: a case of Equity Bank Uganda.

Abstract

ABSTRACT This study aimed examining the relationship between Promotional Mix and Business performance in the Ugandan banking industry: a case of Equity Bank Uganda through: a) investigating the relationship between advertisement and business performance; b) the relationship between sales promotion and business performance; c) the relationship between public relations and business performance in the Ugandan banking industry and; d) the relationship between personal selling and business performance. A triangulation of quantitative and qualitative approaches and a sample of 99 respondents from a population total of 132 were employed. The study found out: a weak positive correlation of r = .289 which is statistically significant with probability value (p = .044) less than the alpha value (0.05) between Advertising and Business Performance; a weak positive correlation of r = .370 which is statistically significant with probability value (p = .009) less than the alpha value (0.01) between sales promotion and Business Performance; a very weak positive correlation of r = .116 which is statistically significant with probability value (p = .028) less than the alpha value (0.05) between public relations and Business Performance and; a weak positive correlation of r = .279 which is statistically significant with probability value (p = .052) less than the alpha value (0.05) between personal selling and Business Performance. The study concluded that: in order to better improve the bank’s business performance, local advertisers should be used; that offering discounts does not yield well in the banking industry; that the bank’s public relations strategies should be relevant to the communities they serve and; that personal selling requires not only a clear understanding of the market one intends to break through but also a high competence by the personnel who might apply that model. It recommended that: advertising be brought out to theatres where local actors are found; system be put in place where clientele are offered discounts on the different bank products; more funding for cooperate social responsibility ad more training for personal selling.