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PROMOTION AND CUSTOMER DEPOSIT IN COMMERCIAL BANKS
CASE STUDY: BARCLAYS BANK UGANDA
BY
MBWALI FIONA
07/U/10354/EXT
SUPER VISOR: MR. TIBAINGANA ANTHONY
A RESEARCH REPORT SUBMITTED IN PARTIAL FULFILLMENT OF THE
REQUIREMENT OF THE AWARD OF THE DEGREE OF BACHELOR OF
COMMERCE EXTERNAL MAKERERE UNIVERSITY
JULY, 2011
1
DECLARATION
I Mbwali Fiona do hereby declare that “Promotion and Customer deposits in commercial
Banks, a case study of Barclays Bank Uganda” is entirely my own original work, except
where acknowledged, and that it has not been submitted before to any other University or
institution of higher Learning for the award of degree
Signed:………………………………………… Date:……………………………
i
DEDICATION
I dedicate this book to my beloved mother Mrs. Batuuka Edith and my late Father Mr.
Batuuka Fred and my brothers Geoffrey, Nelson, Kenneth and Godfrey for their
continued encouragement and support throughout my studies.
ii
APPROVAL
This research report has been submitted for examination with my approval as the
candidate’s University supervisor.
Signed …………………………….…
Mr. Tibaingana Anthony Date ………………………
iii
ACKNOWLEDGEMENT
I would like to express my sincere gratitude to my beloved mother Mrs. Batuuka Edith,
and my brothers Geoffrey, Nelson, Kenneth and Godfrey for their undying love and
financial support. I am also grateful to my friends Diana, Winnie, Betty, Ivan, Ayub,
Doreen, Isingoma and Juliana who gave me a lot of encouragement and academic support
throughout my course of study.
Thanks go to my supervisor Mr. Tibaingana Anthony who kept on guiding me when
writing this dissertation. I appreciate his friendly encouragement and guidance during the
course.
Finally thanks to the staff of Barclays Bank for all their support in providing adequate
data which enabled me to finish my research work,
God bless you all.
iv
TABLE OF CONTENTS
DECLARATION................................................................................................................i
DEDICATION...................................................................................................................ii
APPROVAL......................................................................................................................iii
ACKNOWLEDGEMENT...............................................................................................iv
TABLE OF CONTENTS..................................................................................................v
LIST OF TABLES.............................................................................................................x
ABSTRACT......................................................................................................................xi
CHAPTER ONE................................................................................................................1
Introduction........................................................................................................................1
1.1 Background of the study.............................................................................................1
1.2 Problem Statement......................................................................................................3
1.3 Purpose of the study....................................................................................................4
1.4 Objectives of the study................................................................................................4
1.5 Research Questions......................................................................................................4
1.6 Scope of the study........................................................................................................4
1.6.1 Geographical scope...................................................................................................4
1.6.2Time scope..................................................................................................................5
1.6.3Subject scope..............................................................................................................5
1.7 Significance of the study..............................................................................................5
CHAPTER TWO...............................................................................................................6v
Introduction........................................................................................................................6
2.1 Definition of Promotion………………………………………………………………
6
2.2 Definition of
Advertising……………………………………………………………...6
2.2.1 Objectives of Advertising.........................................................................................6
2.2.2 Factors considered when setting an advertising budget.......................................7
2.2.3 Advertising Strategy.................................................................................................7
2.2.4 Evaluating Advertising.............................................................................................8
2.3 Definition of Sales Promotion.....................................................................................8
2.3.1 Objectives of Sales Promotion.................................................................................8
2.3.2 Sales Promotion Tools..............................................................................................9
2.3.3 Developing a sales promotion program..................................................................9
2.4 Public Relations.........................................................................................................10
2.4.1 Functions of Public Relations................................................................................10
2.4.2.Public Relations Tools............................................................................................10
2.5 Direct marketing.......................................................................................................11
2.5.1 Benefits of Direct Marketing.................................................................................11
2.5.2 Forms of Direct Marketing....................................................................................12
2.6 Personal Selling..........................................................................................................13
2.6.1 Sales Force Roles.....................................................................................................13
2.7 Customer Deposits.....................................................................................................14
2.8 Types of Deposit Accounts........................................................................................14
vi
2.8 .1 Saving Deposit Account.........................................................................................14
2.8.2 Current Account.....................................................................................................15
2.8.3 Fixed Deposit Accounts..........................................................................................15
2.9 Advantages of a banking account to the customer................................................15
2.10 Relationship between promotion and customer deposits.....................................16
2.11 Conclusion................................................................................................................17
CHAPTER THREE.........................................................................................................18
METHODOLOGY..........................................................................................................18
Introduction......................................................................................................................18
3.1Research Design..........................................................................................................18
3.2 Study area and population........................................................................................18
3.3Sampling Design..........................................................................................................19
3.4 Sample Size.................................................................................................................19
3.5 Data Sources...............................................................................................................19
3.5.1 Primary Data...........................................................................................................19
3.5.2 Secondary Data.......................................................................................................20
3.6.Data collection methods............................................................................................20
3.6.1 Survey method......................................................................................................20
3.7 Data collection tools...................................................................................................20
3.7.1 Questionnaires.........................................................................................................20
3.8 Data Processing, Analysis and Presentation...........................................................20
3.8.1 Data Processing.......................................................................................................20
vii
3.8.2Data Analysis............................................................................................................21
3.8.3 Date Presentation....................................................................................................21
3.9 Anticipated Limitations of the study........................................................................21
CHAPTER FOUR...........................................................................................................22
PRESENTATION, INTERPRETATION AND DISCUSSION OF FINDINGS.......22
Introduction......................................................................................................................22
4.1 Findings on the demographic characterisitics of respondents..............................22
4.2 Findings on the Forms of promotion that Barclays bank uses.............................24
4.3 Findings on Levels of customer deposits of Barclays bank....................................28
4.4 Findings on the Relationship between promotion and customer deposits...........31
CHAPTER FIVE.............................................................................................................35
SUMMARY, CONCLUSION, RECOMMENDATIONS AND AREAS OF
FURTHER STUDY.........................................................................................................35
Introduction......................................................................................................................35
5.1 Summary of findings.................................................................................................35
5.1.1 Findings on the Forms of promotions used by Barclays bank...........................35
5.1.2 Findings on the levels of customer deposits of Barclays bank............................35
5.1.3 Findings on the Relationship between promotion and customer deposits........36
5.2 Conclusion..................................................................................................................36
5.3 Recommendations......................................................................................................37
5.4 Areas of further research..........................................................................................38
viii
References.........................................................................................................................39
APPENDIX 1: QUESTIONNAIRE FOR BARCLAYS BANK CUSTOMERS........40
APPENDIX 2: QUESTIONNAIRES FOR BARCLAYS BANK STAFF..................44
APPENDIX 3: INTRODUCTORY LETTER TO BARCLAYS BANK.........................48
ix
LIST OF TABLES
Table 1: showing the sample size of respondents .......................................................... 19
Table 2: Showing Respondents age distribution ........................................................... 22
Table 3: Showing Gender of respondents ...................................................................... 23
Table 4: Showing highest education level of respondents ............................................ 23
Table 5: Showing major occupation. ............................................................................. 24
Table 6: Showing major promotion activities ............................................................... 24
Table 7: Showing medium used most by Barclays bank. ............................................. 25
Table 8: Showing future management plans ................................................................. 26
Table 9: Showing prizes used in promotions ................................................................. 27
Table10: Showing Accounts offered. .............................................................................. 28
Table 11: Showing deposits made by Barclays customers ........................................... 28
Table 12: Showing whether Barclays bank Customers are increasing. ................... 29
Table 13: Showing Customer savings ............................................................................ 30
Table 14: Showing whether customers are retained by the bank ............................... 31
Table 16: Showing whether promotion campaigns affect customers’ attitude
towards services ............................................................................................................... 32
Table 17: factors that influence people to open up Accounts ...................................... 32
Table 18: Showing how long promotional attitude change lasts amongst customers
........................................................................................................................................... 33
x
ABSTRACT
The study was designed to assess the relationship between promotion and customer
deposits in commercial banks in Barclays bank as the case study.
The research was focused on achieving the following objectives; to establish forms of
promotion that Barclays bank uses, to examine levels of customer deposits of Barclays
bank, to establish relationship between promotion and customer deposits in Barclays
bank
A cross sectional and explanatory research design was used during the study; information
was obtained from primary and secondary data sources. Survey method of data collection
was used and questionnaires as the main tool of data collection, and the sample size were
52 respondents which included Barclays bank staff and customers from four branches.
The findings revealed that Barclays bank advertises a lot as one way of promoting its
products and this is represented by 37%, current Accounts are the most preferred
accounts at 48% and 65.3% of the respondents agreed that promotion activities influence
customer deposits.
Therefore, Barclays Bank customer deposits are increasing and the bank needs to
reinforce on its promotions so as to increase its deposits.
xi
CHAPTER ONE
Introduction
This chapter presents the background of the study, the problem statement, objectives of
the study, purpose of the study, specific purpose, research questions, scope of the study
and significance of the study.
1.1 Background of the study
Commercial Banks are institutions whose debts usually referred to as bank deposits are
commonly settled in final settlement of other people’s debts. Commercial banks as
financial institutions offer several product portfolios like savings account, fixed, current,
accounts, and mortgages. They also transfer resources from surplus units and allocate
funds to deficit units based on their ability to pay the principle interests and carry out all
their activities under the supervision, control and regulation of the Uganda central bank
(Balunywa, 1998).
Organizations need to promote their products to the customers. Promotion is the process
of reinforcing, persuading and influencing the customer’s decision in purchasing a
product or service (Balunywa, 1998). There are majorly four promotional tools that is
advertising, sales promotion, public relations and direct marketing and all these are
intended to cause action, either to reinforce customer behavior or to get a customer
switch from another product to the one being promoted (Kotler, 2001).
1
The choice of way of promoting a product depends on factors like the nature of the
products, the target market, the type of channels to be used and funds available for
promotion. There is no single way of promoting a product therefore organizations have to
come up with the best combinations of methods to be used and see how the
communication program can be integrated with other elements of the marketing mix in
order to achieve the greatest degree of synergy. (Wilson & Gilligan, 2005).
Barclays Bank which opened in Uganda for business in 1927 with only two branches are
in Kampala and another one in Jinja is now operating 53 branches and 80 ATMs in
service. In February 2007, Barclays completed the acquisition of Nile Bank Uganda
Limited strengthening its presence in Uganda. Barclays is one of the licensed commercial
banks authorized to take in customer deposits and established savings accounts. It has
achieved growth in major pointers such as assets, revenue, customer deposits and capital
base with customer deposits growing by Shs. 27 billion from 699.2 billion in 2008 to Shs.
727 billion in 2009.
Customer deposits is money mobilized by the commercial banks from the general public
(Balunywa 1998). The funds/ savings are availed to people with ideas to invest at an
interest and later the bank has an obligation to return the money to customers on demand.
Commercial banks receive different deposits including current (cheque) accounts; time
deposits accounts and savings deposit accounts. With a current account, funds are
withdrawn by cheque, no interest is usually paid instead the depositor pays a charge for
the services called ledge fee. (Shelph 2005)
2
Time deposit accounts in which money is deposited for a specific period say 3 or 9 month
as agreed with the bank, interest paid but one cannot withdraw money before the expiry
of the period. And with the savings account, the customer deposits money with the bank
to withdrawn at certain intervals, it attracts interests although lower than time deposits.
It’s best for individuals. (Balunywa, 1998).
Advertising for example is one way of promoting customer deposits and this consists of
non personnel forms of communication conducted through paid media under clear
sponsorship. Advertising is done on radio, television, newspapers, interest and specialty
advertising (Balunywa 1998).
1.2 Problem Statement
Almost all banks in Uganda promote their business to the customer. This may either be
informative, persuasive or as remainders to their potential and existing customers. These
advertisements go on media in a bid to increase customer deposits of these banks.
Just like any other bank, Barclays banks does advertise its services with the same aim of
increasing customer deposits. The bank has lowered fees for account opening to attract
more deposits and also lowered monthly charges on the various deposit and the deposits
have increased especially with the banks effort to open up branches across the country to
bring services near to the customers. Although the bank is experiencing an increase in
customer deposits, the increase in deposits is still small hence this research is intends to
investigate the relationship between promotions and customer deposits.
3
1.3 Purpose of the study
The study aims to examine the impact of promotions on the development of customer
deposits in commercial bank with a case of Barclays bank.
1.4 Objectives of the study
1. To find out the forms of promotions that Barclays bank uses.
2. To examine the levels of customers deposits in Barclays bank over 5 years
3. To establish the relationship between promotions and customer deposits.
1.5 Research Questions
1. What are the forms of promotions used by Barclays bank?
2. What are the levels of customer deposits in Barclays bank over the last 5 years?
3. What is the relationship between promotions and development of customer
deposits?
1.6 Scope of the study
This presents geographical scope, time scope, subject scope
1.6.1 Geographical scope
The study was confined to commercial banks in Uganda, the case of Barclays bank –
Kampala district and it covered four branches that is, Kampala road branch, Kawempe
branch, Wandegeya branch and Kalerwe branch.
4
1.6.2 Time scope
The study was carried out between the month of January and July 2011 looking at
literature published between 1998- 2010.
1.6.3 Subject scope
This was confined to investigating the forms of promotion used by Barclays bank, the
levels of deposits over the last 5 years and the relationship between promotion and
customer deposits in commercial banks
1.7 Significance of the study.
1. The research helped the researcher improve on her research skills for example
proposal writing, data collection and data analysis.
2. The findings helped provide an insight to future researchers who can use this
research as literature review.
3. The study enabled the bank to understand how to deal with the problems
associated with promotion and customer bank deposits
4. The study enabled the general public to appreciate the importance of depositing
money in the bank.
5
CHAPTER TWO
Introduction
This chapter constitutes a review of the existing literature about promotions and customer
deposits, the studies carried out by different scholars on the two variables.
2.1 Definition of Promotion
Promotion is the process of reinforcing, persuading and informing the customer’s
decision in purchasing a product or service (Balunywa, 1998)
Promotion consists of five elements, that is, advertising, sales promotion, direct selling,
direct marketing and public relations. (Brassington & Pettit, 2000)
2.2 Definition of Advertising
Advertising is any paid form of non personal presentation of promotional ideas, goods
and services by an identified sponsor. (Kotler & Armstrong, 2004)
The marketing management must make four important decisions when developing an
advertising program and these include the following. (Kotler & Armstrong, 2004)
2.2.1 Objectives of Advertising
These objectives should be based on past decisions about the target market, positioning
and marketing mix, which defines the job that advertising must do in the total marketing
program which may be to inform the market about a new product, suggest new uses for a
product, informing the market of a price change or persuade customers to change the
perception of product attribute, building brand preference or remind them that the product
may be needed in the future or where to find it. (Olugu, 2001)
6
2.2.2 Factors considered when setting an advertising budget.
The stage in the product life cycle: New products need large advertising budgets while
mature brands require comparatively smaller budgets.
Market share of the company: Building the market or taking share from competitors
requires large advertising budget than simply maintaining market share.
Type of product market; Large consumer packaged goods firms tend to send too much on
advertising, business to business marketers generally spend less on advertising. (Doyle,
2002)
2.2.3 Advertising Strategy
This involves two major elements; creating advertising messages and selecting
advertising media. According to Kotler & Armstrong, 2004, good advertising message
are especially important in today’s costly and cultured advertising environment.
Advertising messages must be planed, more informative, entertaining and rewarding to
customers. Always find the best style, tone, words and format for executing the message.
Selecting an adverting media involves four steps; deciding on reach, frequency and
impact of the message, choosing among major media types like news papers, television,
radio and magazines. Selecting the specific media vehicle where specific media within
each general media type may be chosen and deciding on the media timing- scheduling the
advertising over the course of the year. (Alexander, 2002)
The choice for the media used is very important because the effectiveness of the
campaign lies with the media used. If the media fails to reach the target market, then the
money would have been wasted. Factors like the nature of the product, the target 7
audience, objectives of advertising, the cost of the media and the media used by
competitors are considered when choosing the media to be used. (Balunywa, 1998)
2.2.4 Evaluating Advertising
The communication effect and the sales effect should be evaluated to know whether the
advertisement is communicating well. One way of measuring sales effect is to compare
past sales with past advertising expenses. (Alexander, 2002)
2.3 Definition of Sales Promotion
These are marketing techniques which are used, usually on a temporary basis, to make
goods and services more attractive to the customers by providing some additional benefit
whether in cash or kind (Adcock & Bradfield, 1998)
2.3.1 Objectives of Sales Promotion
According to Kotler, (2001), sales promotion has the various objectives which include;
To reinforce the product’s position though offering a reason or an incentive to buy, to
build long term customer relationships for example through offering management
advisory services to them, to lure customers away from competitors especially brand
switchers who are primarily looking for low price, good value or premiums, to entice
customers to try a new product using a different incentives like free samples, to hold and
reward customers loyal to the company and increase repurchase rates of occasional users,
to increase short term sales especially in markets with high brand similarity.(Kotler,
2001)
8
2.3.2 Sales Promotion Tools
Sales promotion tools can either be consumer promotion tools, trade promotional tools or
business promotion tools and these include the following. (Balunywa, 1998)
Samples – A small amount of a product offered trial.
Coupon – certificates that gives buyers a saving when they purchase a specified product.
Cash refund offer – This is an offer to refund part of the purchase price of a product to
customers who send a proof of purchase to the manufacturer.
Premiums – These are goods offered either free or at a reduced price as an incentive to
buy a product.
Discount – This is a straight reduction in price on purchase during a stated period of time.
Advertising specialty – Useful article imprinted with an advertising name, given as a gift
to customers
Other promotion tools include; price packs, allowance, point of purchase promotion,
contest, games and trade shows. (Kotler, 2001)
2.3.3 Developing a sales promotion program
The marketer must decide first on the size of the incentive, a certain minimum incentive
is necessary if the program is to succeed. A large incentive will produce more sales
response and the marketer must set conditions for participation, incentives can be offered
to everyone or to a selected group. Marketers must decide how to promote and distribute
the promotional program. The length of the promotion is also important and this must be
evaluated by comparing sales before, during and after sales promotion. (Kotler &
Armstrong, 2004)
9
2.4 Public Relations
According to Adock & Bradfield, (1998), Public relation is the deliberate, planed and
sustained effort to establish and maintain mutual understanding between an organization
and its public. Brassington & Pettit (2000), define public relations as a promotional tool
aimed at creating and maintaining good quality relationships with many interested
groups, not only customers but also shareholders, media, trade unions among others.
2.4.1 Functions of Public Relations
The functions of public according to Alexander, (1998) include the following.
Press relations: This involves creating and placing worthy information in the news
media to attract attention to a product.
Product publicity: Publishing specific products
Public affairs: Building and maintaining national or local community relations.
Lobbying: building and maintaining relations with legislators and government
officials to influence legislation and regulation.
Investor relations: This is concerned with maintaining relationships with
shareholders and other financial community.
Development: this is concerned with public relations with donors or members of
nonprofit organization to gain financial or volunteer support.
2.4.2. Public Relations Tools
According to Doyle (2002), Public relation tools include news in which professionals
create favorable news about the company and its products or people. It also includes
speeches, special events, written material, audio-visual materials such as films, slide and
10
sound programs and video and audio cassettes are used. Corporate- identity materials like
logos, business cards, buildings, company uniform and cars plus brochures are also used.
2.5 Direct marketing
This involves creation of one to one relationship with individual customers and may
involve telephone or electronic media. (Brassington & Pettit, 2000)
2.5.1 Benefits of Direct Marketing
According to Kotler & Armstrong (2004), direct marketing offers benefits to both the
customer and the seller and these among others include;
Direct marketing offers convenience to buyers, shopping is fun and hassle-free as
shopping can be done on the websites while at home.
Buying is easy and private. Direct marketing introduces consumers to greater product
access and selection through comparative shopping by browsing through mail catalogs
and online shopping services.
There is greater product access and selection by the buyers since it is interactive and
immediate for example using interactive TV and this saves time as buyers do not have to
fix time to meet sales people before learning about available product and services.(Kotler
& Armstrong, 2004)
It is a powerful tool for customer relationships building. Direct marketing via internet
reduces costs for the buyers and the sellers, increases speed and efficiency of sellers
11
through testing alternative media and messages in search for the most effective approach
which improves on buyer- seller relationship once buyers are satisfied with the services
offered. Marketers can also measure response to their companies to ensure efficiency and
profitability (Kizza, 2003)
It also offers great flexibility, allowing the marketer to make ongoing adjustments to its
offers and programs through customized and personalized messages sent to buyers
through their mobile phones (Olugu, 2001
2.5.2 Forms of Direct Marketing.
According to Kotler in his book “Marketing Management” (2001), direct marketers can
use a number of channels for reaching prospects and customers and these include the
following
Professional sales force is used to locate prospects, develop them into customers and
grow the business
Face to face selling This is original and oldest form of direct marketing where
Direct- mail marketing through single mailing that include letters, samples and
others items to a person using highly selective mailing.
Catalogue marketing through sending full –line merchandise catalogs, specialty
consumer catalogs ,and business catalogs, usually in print form but also some
times as CDs, video or electronic catalogs that are mailed to selected customers,
made available in stores or presented on line
12
Telemarketing, which involves the use of telephone and call centers to attract
prospects, sell to existing customers and provide services by taking order and
answering questions. It helps companies increase revenue, reduce selling costs
and improve customer satisfaction.
Direct- response television marketing. In this form, companies prepare 30- and
60- minute infomercials, which resemble documentaries, carry testimony from
satisfied users of a product or service, and include a toll –free number for
customer to order or get further information(Aaker & Day,1998 )
2.6 Personal Selling
This covers face to face personally tailored messages to the customer. (Brassington &
Pettit, 2000) It is important to note that companies are sensitive about the high and rising
costs (salaries, commissions, bonuses, travel expenses and benefits) of maintaining a
sales force and therefore seeking to substitute mail and phone- based selling units to
reduce field sales force expenses (kotler, 2001)
2.6.1 Sales Force Roles
These represent the company to customers and at the same time represent the customers
to the company. The sales force finds and develops new customers and communicate
information about the company’s product to customers. They also learn about customer
needs and work with other in the company to create greater customer value. (Doyle,
2002)
13
2.6.2 Sales Force Management
This is the analysis, planning implementation and control of sales force activities. It
involves setting sales force objectives; designing sales force strategy; and recruiting,
selecting training, supervision and evaluating of the firm’s sales force. Motivation and
compensation of sales force must also be carried out to increase the productivity (kotler,
& Armstrong, 2004)
2.7 Customer Deposits
This refers to any funds entrusted to the bank by customers for purposes of safe keeping
and investment and held in savings, current and fixed deposit accounts. (Olugu, 2001)
According to Shelaph Heffernan in her book ”Modern Banking” (2005), defines a bank
as a financial firm which offers loan and deposit products on the market and caters to the
changing liquidity needs of its borrowers and depositors. Banks offer wholesale and retail
banking services to large customers such as big corporations and governments and to
numerous personal banking customers and small businesses.
Deposits are liabilities for banks which must be managed if the bank is to maximize
profits. (Shelaph, 2005)
2.8 Types of Deposit Accounts
2.8 .1 Saving Deposit Account
These are accounts opened by customers who have funds available which they do not
wish to invest but on which they wish to obtain interests. The transaction between a bank
and a customer on the deposits accounts are recorded for the customer’s benefit in the
deposit account pass book. This type of account is popular with small deposit holders
14
who withdraw money periodically. Deposit holders are paid interest on outstanding
amounts on monthly basis. (Balunywa, 1998)
2.8.2 Current Account
These are accounts which can be drawn by cheque at any time and for that reason interest
is not payable to current accounts. The customer is supplied periodically with loose- leaf
bank statements, recording the debits and credits on his account. The account holders
draw money as long as they have a balance on the account without any restriction. The
bank charges a service fee called ledger fee and this varies depending on the volume of
transactions. (Balunywa, 1998)
2.8.3 Fixed Deposit Accounts
This is an account where money is deposited for a specific period say 3 or 9 months as
agreed with the bank, a high interest is paid than on savings account but one cant
withdraw money before the end of the maturity period and if so it will lead to lose of
interest. They are also called time deposit accounts. (Balunywa, 1998)
2.9 Advantages of a banking account to the customer.
The customer is relieved of the risk involved in keeping large sums of money on
his premises for example thefty.
The customer is also offered all the facilities offered by use of cheques as a means
of effecting payment.
The customers may utilize the services of the bank in the collection of cheques
and bills received from his debtors.
15
He may seek advances from the banker inform of an overdraft or loan against
security.
The customer can obtain information regarding the persons of the organization
with whom he transacts business.
He may get advice from the bank manager on such matters as investments.
2.10 Relationship between promotion and customer deposits.
Promotion is aimed at causing action, either to reinforce customer behavior or to get a
customer switch from another product to the one being promoted. (Kotler, 2001) It is
assumed that when banks increases on the promotional activities, customer deposits also
increase. (Olugu, 2001) This therefore creates a direct relationship between the two
variables. (Kizza, 2003).The increase in customer deposits arise due to the potential
banking customers who are attracted to open new accounts and make deposits and form
repeated deposits by existing customers. (Olugu, 2001)
However, customer deposits may not always increase with increase in promotions
especially if the product does not satisfy customer needs or if the economy is in
depression. Commercial banks may also fail to attract customer deposits where its
reputation is already bad and the services delivered are inefficient. It can also be due to
failure to expose well the hidden qualities of the promoted services. (Olugu, 2001)
There is no single way of promoting a service therefore organizations have to come up
with the best combinations of methods to be used and see how the promotional program
16
can be integrated with other elements of the marketing mix in order to achieve the
greatest degree of synergy. (Wilson & Gilligan, 2005)
2.11 Conclusion
Just like other firms, banks need to promote their business to the public as this will
introduce and a firm its position and that of its product to the customers. Companies have
to come up with the best combinations of methods of promoting their products since a
single method may not be able to reach the target audience effectively or meet the
objectives of the campaign. Marketers must also always ensure that the products are of
good quality because good quality goods can even promote themselves through word of
mouth, besides; promotions do not have the magic to sell poor quality products
17
CHAPTER THREE
METHODOLOGY
Introduction
In this chapter, the researcher presents the methods that were used in data collection,
analysis and presentation. This includes the research design, study area and population,
sampling design and size, data sources, collection methods and instruments, data
processing, analysis and presentation and the limitations to the study.
3.1 Research Design
The researcher used explanatory and cross-sectional research design. Explanatory
research design seeks to explain a known phenomenon by associating it with other
phenomenon and explain why it happens the way it does. A cross-sectional research
design is where data is gathered just once perhaps over a period of days or months in
order to answer the research questions. Explanatory research design was used in the
study of attitudes, feelings, past and present behaviors of Barclays
Bank Customers which the researcher is interested in.
3.2 Study area and population
The study covered four branches in Kampala that is, Kampala road branch, Wandegeya
branch, Kawempe branch and Kalerwe branch. The population composed of employees
and customers of Barclays Bank at each branch.
18
3.3 Sampling Design
Convenient sampling method was used by the researcher together with the purposive
sampling because data was collected during week days and working hours in the banking
halls of each branch and from only key informants about the study
3.4 Sample Size
The sample size consisted of three marketing managers and ten customers at each branch
which made a sample size of 52 respondents as illustrated below.
Table 1: showing the sample size of respondents
Employees Customers
Branch Total
Kampala
Wandegeya
Kawempe
Kalerwe
3
3
3
3
10
10
10
10
13
13
13
Total 12 40 52
Source: primary data
3.5 Data Sources
Both primary and secondary data was used by the researcher.
3.5.1 Primary Data
This is data which has never been published and is normally collected where secondary
data is insufficient or not available. Primary data was got from the field through personal
interviews with respondents and self administered questionnaires.19
3.5.2 Secondary Data
This is data that already exists, prepared and developed for some purpose rather than to
solve the problem at hand. It was obtained from text books, brochures, and news bulletin
of Barclays Bank.
3.6. Data collection methods
3.6.1 Survey method
This is a method where data is collected from the entire population or in a larger sample
and not many variables are often investigated. Surveys permit compulsion of
generalization of findings in a cross section of the study area because of its wider
coverage.
3.7 Data collection tools.
3.7.1 Questionnaires.
This is a set of questions used to collect information which is latter analyzed to provider
results necessary for solving a given research problem. Questionnaires were administered
by the researcher. Questionnaires included both closed and opened questions. The likert
scale was used with multiple answers to questions and the respondents were asked to tick
the most appropriate.
3.8 Data Processing, Analysis and Presentation
3.8.1 Data Processing.
After collecting data from the field, it was edited coded and tabulated for completeness,
accuracy, easy interpretation and understanding.
20
3.8.2Data Analysis
After data processing statistical techniques of data analysis like Ms Excel was used to
determine the relationship between promotion and customer deposits in Barclays bank.
3.8.3 Date Presentation
The findings were presented using tables, frequencies and percentages.
3.9 Limitations to the study
i. The researcher experienced a problem of inaccessibility to information
particularly in Barclays Bank as most organizations hold high levels of
confidentiality.
ii. Some respondents were reluctant to give out personal information especially
about their financial stand with Barclays Bank.
iii. The study was costly in terms of finances for printing, binding and transport for
moving to the areas of study.
21
CHAPTER FOUR
PRESENTATION, INTERPRETATION AND DISCUSSION OF FINDINGS
Introduction
This chapter presents the study findings as analyzed from the field. The study was guided
by the three objectives which included forms of promotion Barclays bank uses, levels of
customer deposits, and the relationship between promotion and customer deposits. This
study was done in Barclays bank Uganda.
4.1 Findings on the demographic features of respondents
Table 2: Showing Respondents age distribution
Response Frequency Percentage
20-30 years 28 54
31-40 years 13 25
41-50 years 9 17
Above 50 2 4
Total 52 100
Source primary data
From table 2 above it is indicated that that 54% of the respondents were between the age
20-30 years, 25% were between 31-40 years,17% between the age of 41-50 years, and
4% above 50 years. This means that all the respondents interviewed were all mature
enough to provide the reliable information.
22
Table 3: Showing Gender of respondents
Response Frequency Percentage
Male 26 52
Female 24 48
Total 50 100
Source primary data
From table 3 above it’s indicated that the gender of the respondents is 52% for male and
48% female. This means that Males participated more than females.
Table 4: Showing highest education level of respondents
Response Frequency Percentage
Certificate 2 5
Diploma 13 35
Graduate 15 41
Post graduate 7 19
Total 37 100
Source primary data
From Table 4 above it is revealed that 41% respondents are graduates, 35% are diploma
holders, 19% are post graduates and 5% are of a certificate level. Most of them are
professional Accountants.
This implies that people (staff) involved in the banking services have the necessary
qualifications to perform to their expectations and that customers also have knowledge
about services rendered by the bank.
23
Table 5: Showing major occupation.
Response Frequency Percentage
Farmer 4 14
Businessman 12 43
Civil servant 12 43
Others 0 0
Total 28 100
Source primary data
From table 5 above it is indicated that 43% of the respondents interviewed are
businessmen, 43% civil servants, were as the farmers only constituted 14. %. This is so
because respondents interviewed were from an urban setting and therefore had to do less
with the farming. This implies that both civil servants and businessmen find it more
viable to utilize banking services than farmers and other workers.
4.2 Findings on the Forms of promotion used by Barclays bank
Table 6: Showing major promotion activities
Response Frequency Percentage
Advertisement 19 37
Sales promotion 7 13
Public relations 13 25
Direct marketing 13 25
Total 52 100
Source primary data
24
From table 6 above it is indicated that most respondents 37% were in favor of
advertisement as the most promotion activity, 25% for public relations, 25% for direct
marketing, and 13% for sales promotion. This implies that all the promotion activities
employed by the bank have some impact though some take precedence over the others.
Table 7: Showing the media used most by Barclays bank.
Activity Frequency Percentage
Radio 8 15.4
TV 13 25
News papers 20 38.5
Bill boards 11 21.1
Total 52 100
Source primary data
From Table 7 above the findings show that promotion activities are carried out through
the following, radio 15.4%, 25% for TV, 38.5% news papers and 21.1% for bill boards. It
was found out that Barclays bank massively advertise through local news papers like new
vision. This implies that Barclays bank should use news paper as its major media
25
Table 8: Showing future management plans
Activity Frequency Percentage
Increase in
promotions 4 33
Decrease in
promotions 5 42
Stop promotions 0 0
Not decided 3 25
Total 12 100
Source primary data
Table 8 above indicated that 33% of the respondents recommended that promotional
activities be increased, 42% recommended that promotional activities be decreased and
25% were indifferent. This implies that promotion campaigns should be decreased in
Barclays bank.
26
Table 9: Showing prizes used in promotions
Prize Frequency percentage
Trips 2 5
Cash 20 50
T shirts 16 40
Key holders 0 0
Free seminars 2 5
Total 40 100
Source primary data
As illustrated in table 9 above, it is revealed that 50% of the respondents stressed that
cash is the most promotional prize used by the bank, followed by T shirts of 40% were as
trips was only at 10% and no one expressed his/her promotion feeling in key holders.
This implies that the bank should embark on cash promotion prize more than any other
form of promotion.
27
4.3 Findings on Levels of customer deposits of Barclays bank.
Table10: Showing Accounts offered.
Response Frequency Percentage
Current Accounts 19 47.5
Fixed Accounts 5 12.5
Savings Accounts 16 40
Total 40 100
Source primary data
From table 10 above it is revealed that 47.5% respondents maintained current Accounts,
12.5% fixed Accounts, and 40% maintain savings Accounts. Other accounts offered
include students account and premier account. A big percentage of people maintain
current Accounts because; Barclays was doing corporate business even before taking on
Nile bank so most accounts were current. Besides the account is associated with over
drafts and interests which are highly enjoyed by the customers and yet still money can be
withdrawn at any time. Both current and saving accounts have almost the same
components so most customers opt for those two accounts.
This implies that the current Account is the most maintained account maintained in
Barclays bank in relation to other Accounts.
28
Table 11: Showing deposits made by Barclays customers
Response Frequency Percentage
Daily 6 11.5
Weekly 10 19.2
Every 2 weeks 9 17.3
Monthly 27 52
Total 52 100
Source primary data
From Table 11 above it is indicate that 11.5% of the respondents transact on a daily basis,
19.2% on a weekly basis, 17.3% every after two weeks and 52% on a monthly basis. As
already seen in table 4that respondents are involved in different activities, this also means
that the incomes received vary from person to person and from time to time. This implies
that 52% transact at the end of the month because most people prefer saving after paying
off the liabilities and expenses.
Table 12: Showing whether Barclays bank Customers are increasing.
Response Frequency Percentage
Strongly agree 7 58
Agree 3 25
Disagree 0 0
Strongly disagree 0 0
Not sure 2 17
Total 12 100
29
Source primary data
From Table 12 above it is revealed that 93% of respondents agree that Barclays bank
customers are increasing and 17% are not sure whether the customers are increasing. This
is all attributed to the formal strategies employed by the bank in order to fish out bigger
customer numbers. Such strategies include among others high advertisement, low or no
charges on over the counter deposits, withdraws both by counter and ATM, at times
Account opening is free of charge, segmentation of clients into corporate and non
corporate class, reduced lines to mention it. This implies that amidst the stiff competition
from other players, Barclays bank is gaining more customers.
Table 13: Showing Customer savings
Response Frequency Percentage
Less than 100,000 7 17.5
100,000-250,000 9 22.5
250,000-500,000 13 32.5
Above 500,000 11 27.5
Total 40 100
Source primary data
From table 13 above of all respondents interviewed, 13 of them could save more than
250,000, and this accounts for 32.5%, 27.5% above 500,000, 22.5% not exceeding
250,000, and 17.5% below 100,000. This implies that all the savings per deposit are a
clear indication that a bigger number of Barclays bankers follow on a certain budget line
that permit them to make some deposit that they can use at future dates.
30
Table 14: Showing whether customers are retained by the bank
Response Frequency percentage
Yes 10 83
No 2 17
Total 12 100
Source primary data
From table 14 above it is indicated that the bank retains its customers by 83% proportion
and 17% customers are said to have dropped away or even changed to other banks. This
implies that Barclays bank has a good track of records in maintaining its customer base
amidst of the stiff competition from other banks
4.4 Findings on the Relationship between promotion and customer deposits
Table 15: Showing whether promotional activities influencing customer deposits
Response Frequency Percentage
Strongly agree 11 21.1
Agree 23 44.2
Disagree 6 11.5
Strongly disagree 2 4
Not sure 10 19.2
Total 52 100
Source primary data
From table15 above, the findings reveal that 65.3% of respondents agreed that promotion
influence customer deposits, 15.5% of respondents disagree and 19.2% are not sure
31
whether promotional activities influence customer deposits. This implies that high
customer deposit in Barclays depend on promotion activities and therefore it is up to the
organization to maintain, improve or instate other forms of promotion to retain or even
increase customer deposits.
Table 16: Showing whether promotion campaigns affect customers’ attitude towards
services
Response Frequency Percentage
Yes 39 75
No 13 25
Total 52 100
Source primary data
From the table above it is evident that promotional campaigns influence peoples attitude
on services offered by the bank and this is at 75% while those not in favor of the
statement constitute 25%. This implies that promotions have a far reaching effect on
customers’ attitude towards services offered by the bank.
32
Table 17: factors that influence people to open up Accounts
Response Frequency Percentage
Quality services 23 57.5
Pricing of services 5 12.5
Lured by a friend 7 17.5
Coincidence 5 12.5
Total 40 100
Source primary data
From Table 17 above, it is indicated that quality services at 57.5% have great influence
on people who open up accounts. Those who are persuaded by friends are at 17.5%,
pricing of services and coincidence is both at 12.5%. Among the quality services pointed
out were the ATM services, the clean and cool environment in and out the bank,
entertainment like music and TV, and also an approachable staff. This implies that
quality services are the most important factor that draws people to open up accounts in
Barclays bank.
Table 18: Showing how long promotional attitude change lasts amongst customers
Response Frequency Percentage
Short time 22 56.4
A long time 12 30.8
For ever 5 12.8
Total 52 100
Source primary data
33
Table 18 above indicate that 56.4% of the respondent’s attitude last for a short period of
time, 30.8% for a long time and only 12.8% attitude last for ever.
This implies that promotional attitude only gets into the customers mind at the time they
are being carried out, lasts for some time and then it’s for gotten. The 12.8% who keep it
for ever are those who win prizes like T shirts, cash as already seen in table 9 above.
34
CHAPTER FIVE
SUMMARY, CONCLUSION, RECOMMENDATIONS AND AREAS OF
FURTHER STUDY
Introduction
In this chapter a summary of major findings is made, conclusions based on research.
Findings are drawn and recommendations are made. Areas of further research are also
suggested.
5.1 Summary of findings
The following findings were reached at basing on the research findings above.
5.1.1 Findings on the Forms of promotions used by Barclays bank.
It is found out that Barclays bank advertises a lot as one way of promoting its self and
this is represented by 37%, while as the media most used is the news papers constituting
also 38.5%, as regards future management plans, the bank hopes to decrease promotions
by 42% and that cash is the most common prize at 50% given out of all respondents
interviewed.
5.1.2 Findings on the levels of customer deposits of Barclays bank.
It has also been found out that current Accounts are the most preferred ones at 47.5%,
followed by the savings account at 40%, deposits made monthly stand at 52%, customer
base is increasing at 58.%, Most customers (32.5%) deposit amounts of between 250000-
500000, and only 17.5% deposit less than100,000/= a month in relation to the total
number of respondents. It is also shown that Barclay bank retains its customers at 83%.
35
5.1.3 Findings on the Relationship between promotion and customer deposits
It has been discovered that 65.3% agree that promotion activities influence customer
deposits, promotion campaigns affected customer attitude by 75% It was also found out
that there are other factors that influence customer deposits and quality of the banks’
services takes the highest percentage at 57.5% in influencing people to open up
Accounts. However, it was also noted that change in attitude due to promotions lasts only
a short time at a percentage of 56.4.
5.2 Conclusion
Advertising is a promotional form most used by Barclays Bank and Newspapers is the
media most used. However Barclays should make reforms on promotions and media to
include all which can reach most customers so as to increase the effect of promotion.
The different forms of Accounts offered by Barclays bank has enabled Barclays
customers transact at different intervals as their income permits them and this has led to
an increase in the customer deposits
There is a positive relationship between promotion and customer deposits in commercial
banks. Promotions attract more customers whose attitudes towards products offered can
change anytime. A change in attitude is driven mostly by the quality of the products
offered and therefore banks should always remember to promote good quality products.
36
5.3 Recommendations
The bank should not reduce its promotional campaigns because this is likely to give other
competitors a chance to take over a big market share. Instead it should look onto more
campaigns that will enable it sub due a reasonable share in the market.
The bank should create an avenue/ staff that work at night to enable people bank their
money after work on a daily basis. This will help customers save money with the bank
and therefore enabling the bank to receive more deposits and creates more money.
Given the nature of job activities done by customers for example small scale business
men, the bank should encourage more savings from all income groups by putting in place
Accounts were some one can save the little coins he/she has. This in turn will help in
increasing on the number of customers and subsequently the number of deposits made
will also increase.
In order to lift up customer confidence towards Account opening, the bank needs to put
into place ways where bankers can access bank services at attractive rates. For example
good customer care, competitive rates, competitive products, customer loyalty, good
staff.
In order to increase on the time the change in attitude lasts amongst customers, the bank
needs to improve on the quality of products offered such that the promotions can have a
long lasting effect on customers’ attitude.
37
5.4 Areas of further research
Areas that require further research are:
Promotional activities and profitability margins
The effect of bank charges on customer deposits and withdraws
38
References
Aaker, D.A. and Day. G.S. (eds) (1998), Consumerism, New York: Free Press 2 nd
Edition.
Adock, S. and Brdfield R.W (1998) Principles of marketing .NJ Prentice Hall.
Alexander, H. (2002), Marketing Handbook: Institute of Hammington.
Balunywa, W. (1998), Business Administration; Business Publishing group Kampala
Uganda, 2 nd Edition.
Brassington .F & Pettit., S (2000) Principles of Marketing: Financial times, Prentice Hall
2 nd Edition.
Doyle, P. (2002), Marketing Management and strategy: Prentice Hall 3 rd Edition .
Kizza B. (2003) The impact of advertising on consumer behavior a case of MTN-
Uganda .Unpublished dissertation, Makerere University.
Kotler , p (2001) , Marketing management : Analysis , planning , Implementation and
control. Upper saddle river, Nj: Prentice Hall, 10th Edition.
Kotler, P. & Armstrong.G. (2004). Marketing Management. Pearson N.J Prentice Hall
12th Edition.
Olugu, O.G. William (2001).The relationship between advertising , sales promotion and
development of customer deposits in commercial banks a case study of cooperative bank
ltd: Unpublished thesis (MBA) Makerere University.
ShelaPh, H. (2005) Modern Banking; John Wiley & sons Ltd Inc, 111 River Street
Hoboken.
39
Wilson R.S.M. & Gilligan C.T. (2005) Strategic marketing management ; planning,
implementation and Control, Oxford : Butterworth-Heinemann 3rd Edition.
APPENDIX 1: QUESTIONNAIRE FOR BARCLAYS BANK CUSTOMERS
MAKERERE UNIVERSITY
QUESTIONNAIRES FOR BARCLAYS BANK CUSTOMERS
I am a Bachelor of Commerce degree student of Makerere University conducting a study
to access the relationship between promotion and customer deposits in commercial banks
a case of Barclays Bank. Your views as Barclays bank customers are considered as part
and partial of the study. Therefore you are kindly requested to complete the following
questionnaire. Any of your contributions will be treated confidentially and only for the
purpose of study your co-operation is highly appreciated.
Please tick on the appropriate answer.
Part A: BACKGROUND INFORMATION
1. What is your gender?
a) Male (b) Female
2) In which age group do you fall?
a) Under 24 years (b) 25-34years (c) 35-44years (d)45-54years
(e) Above 55 years
3. What is your highest level of education?
(a) Certificate (b) Diploma (c) Graduate (d) Post
graduate
(e) Others (Specify)………………………….
4. What is your major occupation?
40
(a) Farmer (b) Businessman (c) Civil servant
Other (specify)…………………………………………………………………………
Part B: TO FIND OUT THE FORMS OF PROMOTION THAT BARCLAYS BANK
USES
5. Do you know of any promotions used by Barclays Bank?
Yes No
6. Where did you get to know them from?
(a) Radio (b) T.V (c) Billboards (d)
News paper
(e) Other (specify)……………………………………………………………….
7. Have you ever personally participated in any of the Barclays Bank promotional
activities?
(a) Yes (b) No
8. If yes which one did you participate
in?......................................................................................
9. Which of the following forms of promotion does Barclays Bank use most?
a) Advertising b) Sales promotion c) Public relations d)
direct marketing
Part C: TO EXAMINE THE LEVELS OF CUSTOMER DEPOSITS IN BARCLAYS
BANK OVER THE LAST FIVE YEARS
10. Which deposit account do you hold with Barclays Bank?
(a) Savings account (b) Fixed account (c) Current account
41
11. For how long have you held that account?
(a) Less than 2 years (b) 2-4years (c) 5-7years (d) Over 8years
12. How often do you deposit money on your account?
(a) Daily (b) Weekly (c) Every two weeks (d) Monthly
13. How much do you usually save with the bank on every deposit?
(a) Less than 100,000 (b) 100,000-250,000
(c) 250,000-500,000 (d) Above 500,000
164 Has the amount you save with Barclays been increasing over the last five years?
(a) Yes (b) No
Part D: TO ESTABLISH RELATIONSHIP BETWEEN PROMOTIONS AND
CUSTOMER DEPOSITS
15. Promotional activities influence customer deposits in Barclays Bank. Do you agree
with this statement?
(a) Strongly agree (b) Agree (c) Disagree
(d) Strongly disagree (e) Not sure
16. Have the promotional campaigns affected your attitude towards the services offered
by
Barclays Bank?
Yes (b) No
17. How long does the change in attitude last?
(a) Short time (b) along time (c) For ever
18. Did you open up an account because of a promotional campaign?
42
(a) Yes (b) No
19. A part from promotion, what other factors influenced you to open up an account with
Barclays Bank.
(a)Quality of their services (b) The price of their services
(c)Lured by a friend (d) Coincidence
43
APPENDIX 2: QUESTIONNAIRES FOR BARCLAYS BANK STAFF
MAKERERE UNIVERSITY
QUESTIONNAIRES FOR BARCLAYS BANK STAFF
I am a bachelor of commerce degree student of Makerere University conducting a study
to assess the relationship between promotion and customer deposits in commercial banks
and Barclays bank is my area of study. Your views as staff of Barclays Bank are
considered part and partial of the study. Therefore you are kindly requested to complete
the following questionnaires. Any of your contributions will be treated confidentially and
for only academic purpose. Your cooperation is highly appreciated.
Please tick on the appropriate answer
PART A: BACKGROUND INFORMATION
1. What is your gender?
(a)Male b) Female
2. In which age group do you belong?
a)20-30 years b) 31-40 years c) 41-50 years d) Above 50 years
3. What is your highest level of education?
a) Diploma b) Graduate c) Post graduate d) Others
specify……
PART B: TO FINDOUT THE FORMS OF PROMOTION THAT BARCLAYS BANK USES
4 What promotional activity is most used by Barclays Bank?
44
(a)Advertising b) Sales promotion
c) Public relations d) Direct marketing
5 Which of the following media does Barclays bank use most?
a) Radio b) TV c) News papers d) Bill boards
6) Does Barclays bank uses prizes in its promotion? If Yes which ones (list the major six)
i………………………………… iv…………………………………………..
ii…………………………………… v………………………………………….
iii………………………………………….. vi…………………………………………..
7. Are Barclays bank promotional activities effective?
A) Yes b) No
8. To what extent do you agree with this statement?
a) Strongly agree b) Agree c) Disagree d) Strongly
disagree
e) Not sure
9. What future plans does management have towards promotional campaigns?
a) Increase on promotions b) Decrease on promotion
c) Stop promotions d) Not decided
PART C: TO ESTABLISH THE LEVELS OF CUSTOMER DEPOSITS OF
BARCLAYS BANK OVER THE LAST FIVE YEARS
10. Which types of deposit accounts does Barclays Bank offer to its customers?
45
…………………………………………………………………………………………….
…………………………………………………………………………………………….
11. Which of the above listed accounts has the highest number of customers?
………………………………………………………………………………………………
12. Give reasons for your answer.
………………………………………………………………………………………………
………………………………………………………………………………………………
13. Barclays bank customer deposits have been increasing over the last five years. Do
you agree with this statement?
a) Strongly agree b) Agree c) Disagree d) Strongly
disagree
e) Not sure
14. How often do Barclays bank customers deposit money on their account?
a) Daily b) Weekly c) Every two weeks d) Monthly
15. Do you think Barclays bank retains its customers?
a) Yes b) No
16. Barclays bank customers have been increasing over the year. Do you agree with this
statement?
a) Strongly agree b) Agree c) Disagree d) Strongly disagree
e) Not Sure
46
PART D: TO ESTABLISH THE RELATIONSHIP BETWEEN PROMOTIONS AND
CUSTOMER DEPOSITS.
17. Promotional activities influence customer deposits in Barclays bank. Do you agree
with this statement?
a) Strongly agree b) Agree c) Disagree
d) Strongly disagree e) Not sure
18. Do promotional campaigns affect customers’ attitude towards the services offered by
Barclays Bank?
a) Yes b) No
19. How long does the change in attitude last?
Short time b) Along time c) For ever
20. Do you think most customers open up an account with Barclays bank because of a
promotional campaign?
a) Yes b) No
21. A part from promotion, what other factors could have led to Barclays bank
performance? List 3 factors
…………………………………………………………………………………………….
…………………………………………………………………………………………….
…………………………………………………………………………………………….
47