Promoting Bank Usage Habits in Africa’s Savings Mobilization Programs: A Strategic Marketing Perspective

2020 ◽  
pp. 027614672095806
Author(s):  
Charlene A. Dadzie ◽  
Evelyn M. Winston ◽  
Alvin J. Williams ◽  
Kofi Q. Dadzie
Keyword(s):  
Financial Services ◽  
Strategic Marketing ◽  
Relative Advantage ◽  
Policy Regime ◽  
Service Accessibility ◽  
Relative Disadvantage ◽  
Marketing Systems ◽  
Marketing Activities ◽  
Sub Saharan ◽  
Financial Arrangements

Despite widespread liberalization of savings mobilization marketing systems in African economies, consumers continue to rely more heavily on informal financial services than formal financial services, within these systems. The authors draw on habit theory and the strategic marketing framework to develop a rural, customer-centric marketing (CCM) model for promoting rural savings programs in the Sub-Saharan African (SSA) context. Results based on data from Ghana’s savings mobilization program show that under the current, liberalized policy regime, formal financial institutions generate a more significant relative advantage than informal financial arrangements. Of the four customer-centric marketing activities (i.e., service affordability, accessibility, acceptability, and awareness), consumers only viewed service affordability as generating a relative disadvantage. Relatedly, only service affordability positively influenced savings likelihood, while service accessibility negatively influenced the bank usage habit. The results confirm that the customer-centric marketing approach effectively identifies which service inducements promote the bank usage habit in Africa’s savings mobilization programs.

Online Relationship Marketing to Customer Loyalty Based on Signaling Theory (Evidence of Bank Customers in Indonesia)

2020 ◽  
Vol 11 (1) ◽  
pp. 127-127
Author(s):  
Wenny Pebrianti ◽  
Wenseslaus Tanwira ◽  
Ahmadi
Keyword(s):  
Relationship Marketing ◽  
Customer Loyalty ◽  
Financial Services ◽  
Signaling Theory ◽  
Cellular Communication ◽  
Place And Space ◽  
New Era ◽  
Online Trust ◽  
Marketing Activities ◽  
Relationship Of

The internet has changed people's way of life, especially in dealing a transaction. Indonesian banking entered a new era since 2000 when banks in Indonesia began implementing electronic banking or e-banking systems. Integrating cellular communication technology and banking financial services is changing people's lifestyles to be more flexible in making it easier for users to access banking financial services without being hindered by time, place and space. The same integration also occurs in relationship marketing strategies and cellular communication technologies that make it easy for companies to be able to reach and provide the best service to their consumers. This study wants to reveal the relationship of interactivity and engagement which is an activity of Online Relationship Marketing at a bank to be able to understand consumers in order to create customer loyalty with online trust as mediation.Based on the above background, the problem in this study is "Does Online Relationship Marketing activities such as engagement and interactivity affect customer loyalty either through online trust as mediation or not?" Keywords: engagement, interactivity, online trust, customer loyalty, signaling theory

Marketing For Sustainability: A Conceptual Framework

2018 ◽  
Vol 8 (1) ◽  
Author(s):  
Dr.Pankaj Jain
Keyword(s):  
Social Marketing ◽  
Business Processes ◽  
Green Marketing ◽  
Marketing Social ◽  
Marketing Systems ◽  
Sustainable Marketing ◽  
Marketing Activities ◽  
The Mind ◽  
Marketing Principles

This paper is an attempt to put forward a roadmap to attain sustainable marketing through social marketing, green marketing and critical marketing. Social Marketing is an approach to decide the marketing strategies and activities keeping society’s long term welfare in the mind. Social and ethical concerns are at the centre of social marketing. Green Marketing is an approach to develop and market environmentally safer products and services in and introducing sustainability efforts in various marketing and business processes. At last, Critical Marketing is an approach that calls for analyzing marketing principles, techniques and theory using a critical theory based approach. This approach helps in regulating and controlling marketing activities with a focus on sustainability as it challenges and questions the existing capitalist and marketing systems so as to achieve a more sustainable marketing system.

scholarly journals Financial Inclusion, Income Inequality and Sustainable Economic Growth in Sub-Saharan African Countries

2021 ◽  
Vol 13 (4) ◽  
pp. 1780
Author(s):  
Chima M. Menyelim ◽  
Abiola A. Babajide ◽  
Alexander E. Omankhanlen ◽  
Benjamin I. Ehikioya
Keyword(s):  
Economic Growth ◽  
Income Inequality ◽  
Financial Services ◽  
Sub Saharan Africa ◽  
Kuznets Curve ◽  
African Countries ◽  
Financial Access ◽  
Sub Saharan ◽  
Sustainable Economic Growth ◽  
The Impact

This study evaluates the relevance of inclusive financial access in moderating the effect of income inequality on economic growth in 48 countries in Sub-Saharan Africa (SSA) for the period 1995 to 2017. The findings using the Generalised Method of Moments (sys-GMM) technique show that inclusive financial access contributes to reducing inequality in the short run, contrary to the Kuznets curve. The result reveals a negative effect of financial access on the relationship between income inequality and economic growth. There is a positive net effect of inclusive financial access in moderating the impact of income inequality on economic growth. Given the need to achieve the Sustainable Development Targets in the sub-region, policymakers and other stakeholders of the economy must design policies and programmes that would enhance access to financial services as an essential mechanism to reduce income disparity and enhance sustainable economic growth.

scholarly journals EXPLORING RACIAL-ETHNICITY DIFFERENCES IN SERVICES USED BY GRANDPARENTS RAISING GRANDCHILDREN

2019 ◽  
Vol 3 (Supplement_1) ◽  
pp. S674-S674
Author(s):  
Tamar E Shovali ◽  
Kerstin G Emerson
Keyword(s):  
Financial Services ◽  
Service Use ◽  
Community Services ◽  
White Children ◽  
Formal Service ◽  
Service Accessibility ◽  
The Us ◽  
Formal Services ◽  
Race Ethnicity ◽  
Nationally Representative

Abstract Nearly three million grandparents in the US serve as primary caregivers for their grandchildren. Little research on formal service use and grandfamilies exists for Black and Hispanic populations. To begin to address this gap we conducted exploratory analyses using nationally representative estimates of characteristics and service accessibility of noninstitutionalized children living with grandparents from the 2013 National Survey of Children in Nonparental Care. Our goal was to understand differences in service use as a function of grandfamily race/ethnicity. We specifically explored grandparents’ formal service count, financial services received, confidence in obtaining/using community services, and level of role preparation by race/ethnicity. We calculated descriptive statistics for these service variables for grandparents raising Hispanic, White, Black, and Other identified grandchildren (N = 892). On average, there was a minimal range for the number of formal services used (M range = 5.26 – 5.84, possible = 0 – 10 higher equals more services used), reported number of financial services (M range = 0.71 - 0.78, possible = 0 – 3 higher equals more financial services received), and confidence obtaining/using services (M range = 7.4—7.9, possible = 1 – 9 higher equal more confidence). Most prepared to take on the caregiving role were grandparents of White children (55%) followed by Black (21.6%), Other (12.3%), and Hispanic (11.1%) indicating that although grandparents in this sample report being confident and able to access formal services, grandparents of White children report being feeling more prepared to take on caregiving than grandparents of Black, Hispanic, and Other combined.

Smartphone Adoption on Fruit Marketing Communication: a Traders Perception

2020 ◽  
Vol 19 (2) ◽  
pp. 433-446
Author(s):  
Heri Akhmadi ◽  
Muhammad Fauzan
Keyword(s):  
Descriptive Analysis ◽  
Low Complexity ◽  
Ease Of Use ◽  
Relative Advantage ◽  
Marketing Communication ◽  
Communication Tool ◽  
Marketing Activities ◽  
High Level ◽  
Media Applications ◽  
Yogyakarta City

Smartphone is one of the information technology devices that widely used by traders in marketing activities. Aside from being a communication tool, traders also utilize smartphones to obtain market information and communicate about products and services to consumers. This study aims to analyze profile and perceptions of fruit traders in using smartphones as a marketing communication tool. This research employed quantitative method and descriptive analysis using five point Likert scale to examine  the  perception of fruit traders in Yogyakarta City. The results revealed that traders adopted smartphones on fruit marketing communication due to it perceived to provide a relative advantage, with a high level of ease of use, visible benefits, and low complexity and risk. Furthermore, Samsung, Telkomsel, and WhatsApp were brands of smartphones, telecommunications providers, and social media applications mostly chose by traders.

scholarly journals Family Poultry (FP) as a Tool for Improving Gender Equity and Women’s Empowerment in Developing Countries: Evidence from Bangladesh

2021 ◽  
Vol 3 (2) ◽  
pp. 37-44
Author(s):  
Soshe Ahmed ◽  
Maksuda Begum ◽  
Afia Khatun ◽  
Md. R Gofur ◽  
Md. TA Azad ◽  
...  
Keyword(s):  
Decision Making ◽  
Developing Countries ◽  
Gender Equity ◽  
Financial Services ◽  
Poultry Production ◽  
Asset Accumulation ◽  
The Family ◽  
Marketing Systems ◽  
Access To Knowledge ◽  
Training Services

The study assessed the integrated gender issues of family poultry production in developing countries with evidence in Bangladesh. The result draws attention to the widespread acknowledgment of the critical roles of gender in family poultry production system. The results show that women hold the maximum of the ownership (90.58%, p=0.0001) and responsible for the caring of (93.94%, p=0.0001) family poultry in Bangladesh, likewise other developing countries. The result reveals that women control over the decision-making for the selling of eggs and birds in Bangladesh. Women mostly (94.58%) hold the knowledge useful in the prevention and treatment of poultry illness; however, their role was found low (3.46%) in buying medicine and vaccines for poultry as compared to men (96.54%) in Bangladesh. The findings show that women were nearly two times more willing than men to adopt improved rearing technologies related to family poultry production. Both women and men are impacted indifferently by lower adoption of scientific poultry-keeping technologies. Women are independently facing more problems in access to knowledge, training, services, marketing systems, and financial services related to family poultry production. Despite having many limitations, it is clear that family poultry empowers women through asset accumulation and increasing their decision-making ability in the families and the broader community. The study also highlights the necessity of considering an engendered approach in policy and operational level for the family poultry development.

scholarly journals Financing innovative development of the African economies: the role of digitalization and financial innovations

2020 ◽  
Vol 28 (3) ◽  
pp. 429-439
Author(s):  
Tijani Forgor Alhassan ◽  
Ahou Julie Kouadio ◽  
Dadson Etse Gomado
Keyword(s):  
Financial Development ◽  
Financial Services ◽  
Positive Relationship ◽  
Financial Innovation ◽  
Sub Saharan Africa ◽  
Innovative Development ◽  
Mobile Banking ◽  
Data Set ◽  
Financial Innovations ◽  
Sub Saharan

The article examines the relationship between financial innovation (mobile banking) variables in sub-Saharan Africa. Mobile banking (also known as mobile money) is one of the main financial innovations in the sub-Saharan region, and it is a system through which non-bank residents (residents without bank accounts, etc.) receive financial services. The overall importance of financial innovation in today’s digital and knowledge-based economy, and indeed, innovative development, inspired this study. Using a partial linear regression model, we analysed the International Monetary Fund data set, the World Bank’s national economic data, and mobile banking data from GSMA for the period from 2011 to 2017. A negative correlation was found between these variables and growth, as well as financial development, but a positive relationship was established between financial development and economic development. This positive relationship re-confirms the argument that financial development affects economic growth. It is recommended that policy makers develop and implement the necessary policy tools that can promote this form of financial innovation, and thus link its benefits to the national economy in general.

scholarly journals THE EVOLUTION OF THE FORMATION OF STRATEGIC MANAGEMENT IN INCREASING THE COMPETITIVENESS OF ENTERPRISES

2020 ◽  
Author(s):  
Viktor Nyzhnyk ◽  
◽  
Olha Hromova ◽  
Keyword(s):  
Economic Development ◽  
Strategic Management ◽  
Marketing Strategy ◽  
Strategic Marketing ◽  
Enterprise Management ◽  
Management Decisions ◽  
Modern Enterprise ◽  
Holistic Concept ◽  
Marketing Activities

Every year, more and more scientists and practicing economists explore such categories as «marketing» and «management», providing material for further reflection and analysis. Currently, the interpretation of marketing as a function of management is inferior to understanding it as a holistic concept of management, the so-called business philosophy. New directions of economic development to ensure its long-term economic growth require a deeper rethinking of the role of marketing in the activities of industrial enterprises in order to increase their competitiveness and identify it as a powerful factor in modernizing individual businesses and the economy. Strategic marketing today is necessary for the company, as it facilitates its rapid adaptation in the face of intense competition and the presence of a non-price aspect of this struggle. The purpose of the study is to study and combine strategic management and marketing, forming such a category as strategic marketing. Because it is known that strategic marketing emerged at the last stage of the evolution of marketing management. The basis of strategic marketing is to achieve sustainable competitive advantages in the market. During the development of a competitive marketing strategy, the company strives for successful and long-term work in the market. There is no one-size-fits-all strategy. It all depends on various factors: the industry in which the company operates, the capital and experience of the firm, competitors in this field, the creative approach of each company to stand out among others and the innovative approach. Only by considering all these factors, the company can build its personal, unlike all others, marketing strategy. Thanks to the management carried out by means of achievements of modern management and on the basis of marketing philosophy of management and control, the modern enterprise can achieve realization of the strategic purposes and increase not only own level of competitiveness, but also economy as a whole. Thus, modern economic development makes it possible to assert that the management of the enterprise and the adoption of not only operational but also strategic management decisions are significantly influenced by the marketing activities of the enterprise. Here it is necessary to understand not the narrow influence of various elements of marketing (advertising, sales, distribution, etc.), but its complex manifestation. This is due to the fact that until today, marketing has been closely linked to management, as marketing technologies and tools are evolving and beginning to penetrate and be used in the work of all departments at all levels of enterprise management. This gives grounds to assert that through a comprehensive assessment of the effectiveness of marketing activities can assess the effectiveness of management decisions and the success of enterprise management, as well as to give an opinion on the prospects for further development.

scholarly journals THE PLACE OF MARKETING MEASURES IN THE ANTI-CRISIS MANAGEMENT SYSTEM

2021 ◽  
Author(s):  
Mariia Bahorka ◽  
Iryna Kadyrus ◽  
Nataliy Yurchenko
Keyword(s):  
Crisis Management ◽  
Management System ◽  
Strategic Marketing ◽  
Enterprise Management ◽  
Management Processes ◽  
Stable Conditions ◽  
Crisis Phenomenon ◽  
Marketing Activities ◽  
And Control

The article conducts a study to determine the place of marketing in crisis management of the enterprise, established the role of the main aspects of crisis marketing in modern enterprises; mastered the mechanism of marketing anti-crisis management of enterprises, the purpose of which is to form a strategy for overcoming the crisis and eliminate the consequences of crisis phenomena. In the author's sense, crisis management should cover all subsystems of enterprise management: operational, technical, financial, and, especially, strategic, marketing, personnel. In the author's sense, crisis management should cover all subsystems of enterprise management: operational, technical, financial, and, especially, strategic, marketing, personnel. It is recognized that marketing in crisis management is not just one of the subsystems of the enterprise, but the basis that ensures the sustainability of all its other units. Anti-crisis marketing involves the prompt change of all components of marketing in accordance with changes in the environment, which helps to maintain maximum competitiveness of the company in market conditions. In the crisis of the organization or to prevent it, the same marketing tools are used as in stable conditions, but the goals and objectives of marketing activities change, which acquire new specific features, the main of which is the marketing anti-crisis program. The anti-crisis marketing program should ensure the production and sale of such goods that are in steady demand in the market and bring the company's main profit. The mechanism of anti-crisis marketing in the enterprise as a management system involves the presence of the object (crisis phenomena) and the subject of management, the formation of targeted management processes, subsystem monitoring environment and forecasting: determination of the stage, parameters, volumes and scales of the crisis phenomenon, development, implementation and control of anti-crisis strategies, etc.), choice of means and methods of management, creation of a clear system of adjustment and feedback. The end result of marketing anti-crisis management of the enterprise is the formation and implementation of marketing anti-crisis strategy.

Financial well-being of customer-to-customer co-creation experience: a comparative qualitative focus group study of savings/credit groups

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Nkosinathi Sithole ◽  
Gillian Sullivan Mort ◽  
Clare D'Souza
Keyword(s):  
Low Income ◽  
Financial Services ◽  
Well Being ◽  
Social Experiences ◽  
Sub Saharan Africa ◽  
Focus Group Study ◽  
Financial Capability ◽  
Content Type ◽  
Self Confidence ◽  
Sub Saharan

PurposeThis paper aims to explore the effects of the customer-to-customer co-creation experiences of savings/credit groups in the African context and how savings/credit groups influence financial capability and enhance financial well-being.Design/methodology/approachUsing purposive sampling, a study of a total of 18 focus groups was conducted in sub-Saharan Africa. Nine urban-based savings/credit groups were drawn from across South Africa and additional nine, rural-based savings/credit groups were studied in the Monduli district of Tanzania.FindingsFindings demonstrate that the African philosophy of Ubuntu, which promotes customer-to-customer interaction, is the cornerstone of the customer-to-customer co-creation experience. Ubuntu philosophical principles were found to influence the dialogue, access, risk and transparency model of co-creation and customer-dominant logic. The results show further that customer-to-customer co-creation experience positively influences the cognitive, financial, personal and social experiences of members. Specifically, it was found that cognitive and financial experiences positively influence financial satisfaction, financial self-esteem, financial self-efficacy and financial capability, all of which enhance financial well-being. In addition, personal and social experiences positively influence equality, self-confidence, entrepreneurial skills and motivation that in turn enhance social well-being.Research limitations/implicationsThis study has implications for many different stakeholders concerned with the financial inclusion of low-income consumers, particularly in the southern part of Africa.Originality/valueTo the authors’ knowledge, this is the first study to explore the effects of customer-to-customer co-creation experiences in traditional financial services settings in order to understand how these indigenous financial services influence the financial capability and financial well-being of co-creation members.

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