The effectiveness of advertising in the banking industry performance in Tanzania: a case of CRDB and NMB banks

The study assessed the effectiveness of advertising on banking performances in Tanzania. The study is guided by four objectives; to establish the effects of advertising techniques, budget, advertising skills and media of advertising on bank performance. The study used both quantitative and qualitative designs in data collection and analysis. The study used a sample size of 60 respondents from CRDB and NMB bank who were randomly selected. Questionnaire, interview and documentary reviews were used to collect data. SPSS was used to calculate frequencies, percentages, mean and standard deviation for the study findings. The study influence that all the types of advertising needs informative, persuasive and reminder advertising bank performance. Moreover adequacy of budget, staff and skills in advertising were also found to have a positive influence on Bank performance. The study recommends that CRDB and NMB bank should comprehensively invest in advertising as it seems to have positive influence on bank performances. This will be very effective by finding the strategies to avert the challenges facing advertising. For examples CRDB and NMB banks should have on job training mainly focusing on advertising so that they may have well equipped staff who can prepare good adverts for the purpose of increasing their customers. Moreover, it is recommended that CRDB and NMB bank should use more other forms of advertising like sponsoring events and use of mobile phone advertising. This will increase awareness about the various products produced by the industry. The industry should invest in using e-marketing to reach most the people who spend time on the internet and have no time to listen to radios or watch television