A Critical Analysis on Advertising Banks Products and Services in Ghana

Abstract

The study investigates the fact that advertising has served as a dominant promotion mix tool in the banking sector in Ghana. The continuous reliance on advertising by financial institutions suggests an appreciable level of trust in it as a communication tool. The use of other measures to create awareness and attract customers in financial services has been used to a limited extent. More often, the quest to stir interest and inspire consumers to patronise a product or service in financial institutions has seen organisations latching on to advertising with other ways of influencing favourable customer decisions being jettisoned. This work explores other modes of winning customer buy in viewed in comparative terms with advertising. The data was analysed based on the objectives of the study. The main objective is to ascertain the extent to which advertisement leads to patronage of products and services of banks. Quantitative techniques were utilised in order to attain quantifiable understanding into the degree of impact of advertising on customer decision making in the banking sector.