Promotional strategies and sales performance in the banking industry: a case of Tropical bank

Abstract

Promotional strategies is one of the ways that organizations use to influence sales performance. The study specifically sought to evaluate the relationship between promotional strategies and sales performance at Tropical bank Kampala road branch. The study adopted a cross-sectional and descriptive research designs. The sample size constituted 28 staff from Tropical bank Kampala road branch. The study adopted purposive and a simple random technique. Staff were selected using simple random method while managers were purposively selected. Data was collected using interview guides for manager while structured questionnaires were used for other staff. The questionnaires employed a five-point Likert scale in rating various responses. Data was analyzed using statistical package for the social sciences, (SPSS). The descriptive analysis was done to show the mean, frequency distribution and percentage results. Findings revealed Tropical bank has adopted the promotional strategies of advertising, public relations and personal selling. Findings further revealed that the level of advertising, staff commitment and quality of services offered as the determinants of sales performance. It was also found out that there is a positive relationship between advertising, sales promotion, and public relations with sales performance, while personal selling had a negative relationship with sales promotion. The study recommended that Tropical bank should concentrate more on advertising more especially using social media since it has the potential to raise more sales. The study also recommended that tropical bank should adopt sales promotion as a promotional tool since it has a positive relationship with sales performance.