IDENTIFYING AND EVALUATING THE IMPACT OF PRINT MEDIA ADVERTISMENT ON BRAND
IDENITY AND EQUITY OF UK COMMERCIAL BANKS. Emmanuel Mogaji Advertising remains one of the cornerstones of marketing communications. However, determining its impact on a firms performance continues to be a difficult proposition for many marketing and advertising managers. Although firms in the USA spent over $280 billion on advertising in 2001 (Coen, 2002), a clear link between advertising expenditures and financial performances remains somewhat uncertain in many cases. One common belief is that advertising creativity is an essential element of advertising success (El- Murad and West, 2004; Smith and Yang, 2004) and may lead to an improved financial performance, that is, as firm focus more resources and develop more creative advertising, they will realise marginal benefit in the form of higher sales, an increased market share and higher future earnings. As an avenue to reach a large number of people, the importance of print media as a part of marketing communication mix cannot be over emphasised. In developing these print media campaigns, images are integral part, photographs play a lot of role in print media, it passed on the right message when it is used appropriately. Service providers face a variety of challenges that distinguish their marketing activities from those of producing counterparts. Much of what we understand about service brand communications draws heavily on the works of George and Berry (1981) who provided a number of recommendations to marketers of services, which address issues concerning the intangibility, heterogeneity and perishability of services. Such recommendations include: make the service understood; which capitalise on word-of-mouth (WOM) communications; provide tangible cues, promise what can be delivered; aim advertising at employees; and maintain advertising continuity (D. Grace and A OCass Examining the effects of service brand communications on brand evaluation Journal of Product & Brand Management) The marketplace for financial services is extensive as banks, insurers and investment banks operate in a global marketplace and have a wide range of customers, including retail consumers, business customers of all sizes and other financial institutions. From a marketing perspective, it is clear that none of these financial products is very desirable, especially when compared with other things that money can be spent on. This lack of intrinsic desirability is key in the marketing of financial services. (J. Dawes & A. Meidan, 2010, p.7) The marketing communication approach for Banks as part of financial service providers in the United Kingdom will be the main focus for this research. The general public are the target of these banks, the banks want everyone to have an account with them and they are using all marketing communication means to get our attention to bank with them. To get the customers, they have to have the right message, the general public needs to know the message is for them, they must feel that the bank is talking to them and trying to relate with them The right message also must be through the right medium, prospective customers need to see the message and be able to identify it in the right measure. They need to get the right amount of information before they feel they are been bombarded with advertisement and have a second thought it might be too good to be true.
SCOPE OF RESEARCH 1. To investigate the development of print media advertisement in banking industry and evaluate its contribution to brand equity and identification. 2. To understand customers visual communication. Identifying their perception about print media images. 3. To consider the advantages and disadvantages of various forms of images for print media design animated images, illustrations, brand ambassadors, staffs or customers. 4. To offer a framework for the appropriate use of images as part of marketing communication mix and see the possibilities of using same in a different industry and country 5. To offer recommendation for enhancing brand equity through appropriate marketing communication methods. The hypothetical question is which form of images as part of print media advertisement is best suitable for banking marketing communication campaign, taking into consideration the intangibility, heterogeneity and perishability of services. This study will approach this hypothetical question by considering the research from three major aspects: development of print media as part of marketing communication, the perception of customers about the images and the form- Illustrated images, brand ambassadors or staff/customers. Issues has been raised about air brushing photographs in adverts, some believe it presents an impossibilities, consumers wants advertisers to be honest and be truthful about the messages they pass with their images. Though we all receive same messages from all the banks, we perceive them differently based on our understanding and interpretation of these images which I call perception barriers.
LITERATURE REVIEW Advertising researchers have usually assumed that the advertising text provides all of the meaning in the text-viewer interaction (Mick and Buhl, 1992). As a result the focus of message research will inevitably be biased towards the study of textual features of advertisement, relegating the role of the advertising viewers to an assessment of the degree to which the audience gets the message. Scott (1994) showed how an advertising text interacts with the knowledge, expectations, emotions and motives of the reader and that each reader may make an individual interpretation of the meaning of an image: pictures have been treated as producing effects by their mere presence as opposed to eliciting a response on the basis of what they signify (p.477). She pointed out that images that relate to the self can inspire feelings of hopelessness, frustration and the like (Scott, 1994, p.477) Much has been said around my proposed topic, which includes approach to corporate image and management process, corporate identity, branding and marketing, examining the effect of service brand communication on brand evaluation and problems and strategies in Service Marketing. Though still taking into consideration the works done within this area, my proposal is aimed at identifying with a particular service industry, which is the Banking sector with in UK and also a particular form of corporate identity and images, which is photography as sub - level of Advertising as part of the marketing communication mix. Good marketing is integrated marketing. Two principles are important when designing and implementing a marketing mix, i.e consistency and synergy. Marketing instruments have to work in the same direction. (Patrick D. et al., 2007). Service providers face a variety of challenges that distinguish their marketing activities from those of producing counterparts. Much of what we understand about service brand communications draws heavily on the works of George and Berry (1981) who provided a number of recommendations to marketers of services, which address issues concerning the intangibility, heterogeneity and perishability of services. Such recommendations include: make the service understood; which capitalise on word-of-mouth (WOM) communications; provide tangible cues, promise what can be delivered; aim advertising at employees; and maintain advertising continuity (D. Grace and A OCass Examining the effects of service brand communications on brand evaluation Jourmal of Product & Brand Management) The fundamental difference universally cited by authors (e.g., Bateson 1977; Berry 1980; Lovelock 1981; Rathmell 1966,1974; Shostack 1977a) is intangibility. Because services are performance, rather than objects, they cannot be seen, felt, tasted or touched in the same manner in which goods can be sensed. Intangibility, according to Bateson (1979) is the critical goods- service distinction from which all other differences emerge. The literature suggests that each unique characteristics of service leads to specific problem for service marketers and necessitates special strategies for dealing with them. The branding development will involve identities, something the customers and prospective ones can associate with. Business identity studies can be broken down into three main strands Corporate identity - What are we? , Organisational identity - Who are we? and visual identity - What are the organizations symbols and system of identification? Brand Reputation, like those of people, are of immense value to corporations. Research to date has examined how people form perceptions of a companys reputation (Fombrun and Shaney, 1990; Fombrun, 1996), the effect of firm reputation on perception of price unfairness among consumers ( Campbell, 1999), and he effect of corporate reputation on management decision- making (Weiss, Anderson, and MacInnis, 1999). The Organisation may employ the best of marketing communication mix but if there is an underlying bad perception, it may be difficult to win the customer.
METHODOLOGY The proposed methodology in this research work includes the use of quantitative and qualitative research methods. These will include existing field study (extensive literature review of the past works) with more in-depth research which will include advertisement designs and developments as part of marketing communication mix to familiarise myself with the aim to understand of thought process behind various adverts and branding activities. I will also compile and analyse detailed case studies within the industry In order to achieve this, field trips will be employed to conduct interviews and administer questionnaires to customers and the general public to find out about their perceptions about the banks and their marketing communication activities. How much it has affected their choice. Purposive sample selection will be employed, in common with most qualitative research. The one- to-one interviews would allow trust to be established and allow the exploration of underlying motivations, beliefs, attitudes and feelings. Focus group discussions will also be carried out to discuss the present images used by the banks. More in-depth interviews will also be carried out with respondents from various backgrounds. I will also meet with senior staffs within the banks responsible for branding integration and marketing communications. Interviews will be conducted either in person or over the telephone. The Advertising Agencies involved in the production of theses marketing communication will also be interviewed.
PLAN OF STUDY This study will span a period of three years in which the research work is expected to address various research questions identified as well as draw up answers. The first year of this research programme will focus on extensive literature review on past related works in connection to the corporate and marketing communication within financial institutions, Brand management and equity. This is to revise the research questions as it will help to understand previous work carried out and the vacuum still left to be filled. This will give the research work a specific focus. Field work will also commence during my first year to gain background knowledge on the subject matter as well as know the extent of contacts and visits to make in the following year. My second year of study will focus on extensive field work, collection and analysis of data. This will however be divided into two parts: the first will be meant for data collection and analysis while the second will be for evaluation to determine if the data gathered so far can provide necessary solutions to the research questions. This will determine if a second phase of field work is required or not. Contact will be made through various organisations like the Advertising agencies and internal communication team of the Banks. The final year will be for the compilation of my report as all information gathered in the first and second year will be fully utilised. Identifying the impact of images used for marketing communications on brand equity of banks. Possible further study can also be identified.
GENERAL BIBLIOGRAPHY APQC. (1998) Integrated Marketing Communication. Marketing and Sales Strategic Alliances. APQC. (1999) Brand Building & Communication: Power Strategies for the 21st Century. Internet Marketing and Sales Strategies. Arjun, C. (2002): How Brand Reputation affects the Advertiing Brand Equity Link Journal of Advertising Research, Vol 42, No. 3 pp.33-43 Campbell, M. C. Perception of Price Unfairness: Antecedents and Consequences. Journal of Marketing Research 36, 2 (1999) pp. 187-99 Coen, R. J. (2002) Domestic advertising totals:by media bought in 2001 and 2000 (http://www.adage.com/pages.cms?pageId=919, 25 September 2002). El-Murad, J. & West, D. C. (2004) The definition and measurement of creativity: what do we know? Journal of Advertising Research, 44, pp. 188-201 Fombrun, C. Reputation: Realizing Value from Corporate Image.Cambridge, MA: Harvard Business School Press, 1996. Fombrun, C. & Mark, S. Whats in a Name? Reputation Building and Corporate Strategy. Academy of Management Journal 33, 2 (1990): 233-58 John M.T. Balmer (2001): Corporate identity, Corporate Branding and Corporate Marketing: Seeing through the fog, European Journal of Marketing Vol. 35 No. 3/4, 2001, pp. 248-291.) Jillian Dawes Farquhar & Arthur Meidan (2010), Marketing Financial Services Second Edition , pp 7 Micheal, J. T & Robert, A. K. (2006) Journal of Marketing Communications, Vol. 12, No. 1. 1-14, March 2006 Mick, D. & Buhl K. (1992) A meaning based model of advertising, Journal of Consumer Research, 19, pp 317-38 Patrick, D. P., Maggie, G. & Joeri V. D. B ( 2007) Marketing Communications A European Perspective Third Editions Richard, E. & Christine E. (2005) Journal of Marketing Communications, Vol. 11, No 1, 3-19 March 2005 Scott, L. (1994) The bridge from text to mind: adapting reader-response theory to consumer research, Journal of Consumer Research, 21, pp.461-80 Smith, R. E. & Yang, X. (2004) Toward a general theory of creativity in advertising: examining the role of divergence, Marketing Theory , 4, p. 31 Weiss, A. M., Erin, A. & Deborah, J. M. Reputation Management as a motivation for Sales Structure Decisions. Journal of Marketing 63, 4 (1999): 74 -73
Structural Equation Modeling (Sem) : Teacher Burnout and Self Esteem in Tangerang S Junior High School Teachers Rilla Sovitriana, Febi Herdajani, Aziz Sudarmo and Anoesyirwan Moeins