AN ASSESSMENT OF ADVERTIZING PRACTICE AND CHALLENGES IN CASE OF LION INTERNATIONAL BANK

Abstract

The study assessed advertizing practice and challenges of lion international Bank S.C in Addis Ababa, Ethiopia. In the era of globalization where free-market economic system operates and extremely competitive market environment prevails in most countries of the world, advertising has paramount importance in both private and public sectors. More than ever before, advertising has become an integral part of the social and economic systems of most societies in the world. Cognizant of the importance of advertising, business organizations use appropriate advertising strategies and methods to effectively and efficiently communicate with customers in different financial institutions, including Ethiopia. The sample populations of the study were the ten branches of Lion International Bank in Addis Ababa City selected by using probability (stratified sampling method). Quantitative research approach and probability sampling method (simple random sampling) had been adopted in selecting a sample size of 400 by applying tables. Data were collected using structured questionnaire and analyzed using SPSS 21 and descriptive research design was used. The results of the study revealed that media ads were the most important sources of information; and the types of media ads (broadcast, print media & outdoor ads) have significant effect on consumers’ buying behavior. The findings showed that from this result, we might deduce that the findings showed that TV has the most powerful influence on consumers’ buying behavior due to the combinations of audio-visual presentations. The informative ads, geographical location, its slogan and the brand name were the imperative factors that motivated consumers to respond to Lion International Bank’s media ads.