THE ROLE OF MARKETING COMMUNICATION IN THE PROVISION OF MICRO FINANCE SERVICES: BONZALI RURAL BANK AS A CASE STUDY

Abstract

The study sought to look at the role of marketing communication in the provision of micro finance services, using Bonzali Rural Bank as a case study. The research problem was as a result of the stiff competition within the microfinance industry and how best they could apply the Marketing. Communication Mix element to beat the competion. A qualitative research was used to gather information from Bonzali Rural Bank. Both purposive and simple random sampling methods were used to select the respondents. Questionnaires were respectively administered to customers of Bonzali Rural Bank. The data was analyzed by means of descriptive and inferential statistics using the Statistical Package for Social Sciences (SPSS). Some of the key findings during the research were that the physical evidence of the Bank was not the best. Personal selling according to the research was not at its peak, an indication that the Bank has done a lot in that regard. Based on the findings, the Bank is doing well with the Marketing Communication Mix Elements. The researcher recommends that the Bank focuses on the physical evidence, ie, the environment it operates including the building itself, equipment, vehicles etc. as they all communicate with the customers and the customers' makes judgment of the services provided by the Bank through the physical evidence. Not only that, but the processes and the people who deliver the services