Effect of Advertising Campaigns on Consumer Banking Preferences

https://doi.org/10.34047/MMR.2024.11205

Abstract

The Indian banking sector is undergoing a remarkable transformation and brimming with immense potential. Driven by rapid digitization, financial inclusion initiatives, and a growing population that is not only financially literate but familiar with modern technology. Indian banks are poised to play a pivotal role in driving economic growth and prosperity for the nation. This research paper explores how some of these bank’s leap ahead of its competition based on advertising and promotional campaigns.
Through a critical review of existing literature and potentially empirical research, the aim is to identify the multi-dimensional influence advertising and promotions have on the buying behaviour of the Indian consumer in the context of purchasing banking products. For this project we have employed primary research and secondary research. To achieve the aim of this study, the research uses data obtained from questionnaire survey filled by 108 participants, age ranging from 18 to 45 plus, of different professional backgrounds. The hypotheses are tested using the structural equations modelling technique. The results of the study reveal promotional and marketing communication strategies evaluated have a The study offers practical and theoretical insights into understanding the dynamics and implications of the promotional and marketing communication and how they influence the purchasing behaviours
of consumers in the context of banking products. The study also seeks to examine the contingent effect of different types of financial products.