THE IMPACT OF PUBLIC RELATIONS IN THE BANKING INDUSTRY
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THE IMPACT OF PUBLIC RELATIONS IN THE BANKING INDUSTRY
PUBLIC RELATIONS AND THEIR IMPACT ON THE BANKING INDUSTRY
The research focuses on public relations and its impact on the banking industry (a case study of the GTbank Kaduna branch). The questionnaire was used as the data collection instrument in the survey research method.
The research begins with a basic introduction to the topic area, a statement of the general problem as it relates to the organization’s reason or objectives for the study, the scope of the investigation, constraints of the study, and definition of terms.
Scholars’ reviews of related material are also emphasised in noteworthy areas. Other areas of interest include the methodology of the entire research work,
which includes methods or approaches used, instruments used, research population and sample size, sampling procedure used, justification for sample selection, statistical technique used in data analysis, and hypothesis formulation.
According to the study’s findings, 97% of respondents agreed that public relations may help an organisation develop a positive image. As a result, the study suggests that public relations are a valuable instrument for preserving a positive image for any corporate organisation.
CHAPTER ONE
1.1 INTRODUCTION
Companies often aim to have something that makes them stand out from the crowd, something that makes them more desirable and fascinating to both members of the general public and the media. A positive image can help enhance a company’s sales, whilst unfavourable exposure can harm a company’s reputation and reduce sales.
Public relations (PR) can help consumers and the media understand how a firm operates. A public relations department, also known as a public information department or a customer relations department within a firm, assists customers who have an issue with the company. They usually strive to present the company in its best light.
In addition, the public relations department may perform research to determine how satisfied customers are with the company and its products. A public relations department can utilise a variety of tools and approaches to improve a company’s image.
Traditional techniques include news releases and announcements made to the media, news letters given to clients, and appearances at public events such as trade exhibitions or conferences. With the advent of the internet, public relations departments can now employ technologies such as blogs and social media networks to achieve their objectives.
Many people think of public relations (PR) as a tool to “sprier” news and information, which is to present it in the best possible light for the company. If a corporation announces layoffs, its public relations department may argue that the company is cutting expenses and becoming more efficient in order to better serve its customers at lower prices.
As long as those statements are genuine, the public relations department is fulfilling its duty of safeguarding the company’s reputation and image. Truths that are stretched are exposed. There is a high level of written and vocal communication skills.
A public relations (PR) professional must also be adept at multitasking and time management. He or she may have some media experience or training to grasp how the media works.
Organisational and planning abilities are also necessary in public relations. A public relations professional must be able to perform well under duress.
Finally, in most large corporations, public relations is a speciality that is governed by strict disclosure laws.
1.2 Statement of the Problem
Public relations can be challenging, but it can also be enjoyable. Nothing beats knowing that the people you approach have gained valuable information, regardless of whether they take immediate action or not. A positive image can enhance a company’s sales, whereas unfavourable exposure can harm a company’s reputation and reduce sales.
The question then becomes, how far has public relations been able to achieve the specified goal in the banking industry over the years. This is what this study aims to investigate.
1.3 Purpose of The Study
The purpose of this research on public relations and its impact on the banking business is to achieve the following goals:
– To investigate how GTB is using public relations programmes to improve its public image and prestige.
– Determine how frequently the bank holds significant events such as formal press conferences and grand openings.
– Examine the bank’s public service efforts, such as chainable donations and event sponsorship.
– Determine the various marketing communicators used by the bank to generate exposure, such as media releases, press conferences, and article placement.
1.4 Importance of the Research
The study is both theoretical and practical in nature, and it is not only academic but also practical in management-related corporate settings. The research focuses on the practical application of the Higher National Diploma (HND) in marketing.
Through the researcher’s advice, the work will benefit the management team of Guarantee Trust Bank (GTB) Kaduna. The work will benefit the researcher because it will improve his mental faculty towards the topic issue.
1.5 Research Question
The following research questions were established during the course of the study.
– How many public relations campaigns does the bank run each year?
– How does the bank do public service initiatives such as event sponsorship/donation?
– Who handles formal press releases and conferences on behalf of the bank?
1.6 Scope of The Study
The study’s focus is on “public relations and its impact in the banking industry.” The scope will also include different definitions of public relations, historical perspectives of public relations, influence, role, skills required in public relations departments, and steps in public relations programmes, among other things. The scope will be limited to the GT Bank Kaduna branch only.
1.7 OPERATIONAL DEFINITION OF TERMS
Public relations is an activity that aims to improve communication and develop positive relationships between an organisation and its stakeholders.
It is also a deliberate and ongoing endeavour to build and preserve goodwill and mutual understanding between an organisation and its constituents.
Publics: These are the people with whom an organisation communicates. Employees, neighbours, potential employees, consumers, opinion leaders, share holders, youth, community, politicians, and others are all members of the public.
A tool is a procedure or mechanism by which an objective is attained. Tools are also things or instruments that assist you in carrying out your obligations.
Relationships: The way two or more objects interact with one another.
Public relations (PR) is an abbreviation for public relations.
A company, industry, or business enterprise is an organisation.
Research is the process of learning or discovering something that was previously unknown.
Strategy is the art of organising an operation, as well as the ability to manage an affair.
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