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Marketing Research Project
Agenda
Introduction
Research Objectives
Methodology
Depth Interview
Conclusion
Recommendations
Q&A
Problem Statement/Issue
Sampling: Design and Procedures
Survey Findings
Introduction
• Started operations in April 1, 1992
• Listed on Karachi, Lahore and Islamabad stock exchanges
• Nation wide presence- 102 branches
• 1100 online ATMs
Problem Statement
Does the new advertisment campaign of Askari Bank Limited has an impact on people or not?
Research Objectives
1. Effectiveness of Askari Bank’s new advertisement campaign:
• Brand awareness a - Identification b - Recognition
• Perceived quality• Brand loyalty • Brand association
2. Do people recall Askari Bank on top of their minds?
Methodology
Methodology (explanation)
1. Started exploring things using secondary research as we didn’t know much about Askari Bank Limited before project was assigned to us. So, it was better to start with exploratory research.
2. Designed the questionnaire for surveys which was tested on 10-15 people.
3. Conducted depth interviews. 4. Revised the questionnaire and after finalizing that,
surveys were conduct. 5. Got back to primary research to quantify the data,
collected through surveys and depth interviews, and for better understanding of that.
Target Population
The target population for our marketing research project was defined as follows:
• Elements – male or female• Sampling units – bank account holders
Segmentation
Target population has been segmented as:
• Askari Bank Limited customers• MCB customers• Bank Alfalah customers• Housing societies/relatives and friends
Sampling Techniques
The techniques used for sampling were:
Stratified sampling – for the representation of different strata’s as defined in the segmentation, like:
• strata1-Askari Bank Limited• strata 2-MCB, etc
Convenience sampling – for the selection of respondents of societies
Sample Size for Surveys
Total number of respondents for surveys was 100. Sample size for different strata’s are:
• 20 respondents of Askari Bank Ltd.• 20 respondents of MCB• 20 respondents of Bank Alfalah• 40 respondents of societies
Sample Size for Depth Interviews
Total number of respondents for depth interviews was 12. Sample size for different strata’s are:
• 8 respondents of Askari Bank Ltd.• 4 respondents related to other banks
Age group: 28-40
Depth Interview (findings)
Brand awareness -- Awareness level is very low. Only 42% of 12 respondents could able to identify the new logo and 58% of 12 respondents were unable to recognize the new slogan. So, overall awareness level about new advertisement campaign turned out to be 42%. Out of this 42%, 60% came to know about new ad campaign through TV and 40% through word of mouth.
Depth Interview (findings cont…)
Perceived quality – Quality is not perceived as that much high by few customers but most of the customers are satisfied with the quality of services provided. Out of 12 respondents, 5 perceived the brand image as positive, 5 perceived as neutral and 2 as negative.
Depth Interview (findings cont…)
Brand loyalty – customers are loyal to Askari Bank Limited. Most of the customers don’t want to switch their account to another bank due to minor issues.
Brand association – 83% of 12 respondents associated Askari with an Army bank.
People Related to Different Banks
People related to different banks
Askari Alfalah MCBOthers
Following is the frequency chart of respondents related to different banks.
People Related to Different Banks (explanation)
Banks Frequency
Askari Bank 50
Bank Alfalah 26
MCB 28
Others 92Total 196
Missing 104
When question was being asked from 100 respondents that, which bank(s) are you currently banking with? The results
that turned out are shown
in the table that suggests
that after Askari, MCB and
Alfalah are larger chunks.
Other banks includes –
Standard Chartered Bank,
National Bank, Allied Bank,
HBL, etc
Brand Identification
No
Yes
Identification of Askari bank logo
Following is the frequency chart that shows the results of identification of new logo of Askari
Bank Ltd.
Brand Identification (explanation)
Frequency Valid Percentage
Yes 45 45.0
No 55 55.0
Total 100 100.0
When 100 respondents were asked to identify the bank by looking at its logo , 45% out of 100 respondents (as shown in the table below) were able to identify it and the rest, 55% were not.
Don't know
Askari bank
MCB
HBL
Bank Alfalah
Which bank's slogan is "ask us"
Brand Recognition
Following is the frequency chart that shows the results of recognition of new slogan of Askari
Bank Ltd.
Brand Recognition (explanation)
Frequency Valid Percentage
Bank Alfalah5 5.0
HBL6 6.0
MCB2 2.0
Askari Bank37 37.0
Don’t Know 50 50.0
Total100 100.0
When 100 respondents were asked to recognize the Askari Bank’s new slogan “ask us”, 37% out of 100 respondents (as shown in the table below) were able to recognize it and the rest 63% were not.
Awareness of New Ad- Campaign of Askari Bank
Not Valid
No
Yes
Are you aware of any new adveritsment of Askari bank?
Following is the frequency chart that shows the results of awareness about new ad campaign of Askari
Bank Ltd.
Awareness of New Ad- Campaign of Askari Bank (explanation)
Frequency(In %)
Yes 44
NO 49
Not Valid 7
When 100 respondents were asked, “Are you aware of any new advertisement campaign of Askari Bank?”, 44% out of 100 respondents (as shown in the table below) answered “Yes” and 49% answered “No”. Rest 7% were those who either didn’t know about Askari Bank or they were not familiar with new ad – campaign of Askari Bank
Limited.
Response Rate from Different Advertisement Channels
Not Valid
Others
Radio
Internet
TV
Newspaper
How did you find about the campaign of Askari bank?
Following is the frequency chart that shows the response rate of different channels from which respondents, who
were familiar with
new ad –
campaign, got
to know about it.
Response Rate from Different Advertisement Channels
(explanation)
Frequency Valid Percentage
Newspaper 5 11.4
TV 28 63.6
Internet 1 2.3
Radio 1 2.3
Others 9 20.5
From the previous slide, we see that those who were familiar with Askari Bank’s new ad campaign were 44% of respondents out of 100. The following table suggests that out of those 44% respondents, 28 got
to know about it
through TV and 5
from newspaper.
These are the major
channels where the
response rates were
high.
New Ad Campaign Impact
Not Valid
More than 12 months
6 to 12 months
Less than 6 months
Since how long have you been a customer of Askari bank?
Following is the frequency chart, that shows that from how long people are attached with Askari Bank Ltd., in order to relate it to the impact of new ad campaign of
Askari Bank
Ltd.
New Ad Campaign Impact (explanation)
The impact or effectiveness of new ad campaign of Askari Bank Ltd. can be viewed through the time period of respondents attachment with the bank and period in which extensive ad campaign was running.
Frequency Valid Percentage
Less than 6 months
7 14.9
6 to 12 months
15 31.9
More than 12 months
25 53.2
Not Valid 53
New Ad Campaign Impact (explanation cont…)
The ad campaign was launched almost 11 to 12 months from now and was running extensively for six months, that suggests by the time period of “6 to 12 months” from the previous slide. Its impact started decreasing after 6 months of its launch that was described by the number of respondents from “less than 6 months” (as shown in the table on previous slide). These responses were from Askari Bank account holders who were 47 out of 100.
Brand Loyalty
Not Valid
Shifted to some other bank
Banking with Askari Bank
Are you still banking with Askari bank?
Following is the frequency chart, that represents the loyalty of Askari Bank’s customers with Askari Bank Limited.
Brand Loyalty (explanation)
Frequency Valid Percentage
Banking with Askari Bank
44 93.6
Shifted to some other bank
3 6.4
Total 47 47.0
Following table suggests that out of 47 customers of Askari Bank Ltd., only 3 have shifted to some other bank. Through this we can say that the large chunk of Askari Bank’s customers are loyal with Askari Bank.
Customer Satisfaction
Customer Satisfaction
0
5
10
15
20
25
30
Very dissatisfied
Dissatisfied
Nuetral
Satisfied
Very satisfied
Following is the frequency chart, that represents the customers satisfaction level with different characteristics of Askari Bank Limited.
Customer Satisfaction (cont…)
Customer Satisfaction Level
Very dissatisfied Dissatisfied Nuetral Satisfied Very satisfiedQuality Service 1 8 24 8 8Reliable 3 18 21 9Innovative 5 24 14 4Stable 2 16 24 5Progressive 1 21 18 11
Following is the frequency table, that represents the responses of 47 Askari Bank customers regarding their satisfaction level with different characteristics of Askari Bank Limited.
Brand Association
Not Valid
An Army Bank
Housing Society
An Apartment
A Villa
Association with Askari bank
Following is the frequency chart, that represents what people associates Askari with?
Brand Association (explanation)
Frequency Valid Percentage
A Villa9 9.5
An Apartment10 10.5
H. Society17 17.9
An Army Bank59 62.1
Not Valid 5
Total 100 100
When 100 respondents were asked, “When comes the name of Askari, what do you associate it with?”, 59% out of 100 respondents (as shown in the table below) associated Askari with “An Army Bank”, 17.9%
associated it with
“Housing Society”,
10.5% with “An
Apartment” and
9.5% associated
Askari with “A
Villa”.
Conclusion
• People are not familiar with the new advertisement campaign of Askari Bank Limited.
• Campaign not been successful to create the new brand image amongst the people.
• Customers are satisfied with the services provided by Askari Bank and are loyal to it but large number of them, along with others, still associating Askari Bank with its old image of an “Army Bank”.
Recommendations
Extensive advertisement campaign required
for Longer period of time in order to create
new brand image among the public through:
• Billboards• TV• Newspapers• Radio • Sponsoring
Thank you
Questions!!!