Assessing the impact of marketing strategies on sales performance at gcb bank limited.
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Date
2023
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KNUST
Abstract
Marketing strategies are means through which firms promote their products. Strategic marketing is not only relevant to service but equally relevant to products, The general objective of the study was to assess the impact of marketing strategies on sales performance of GCB Bank Limited. The descriptive research design was utilized with the study population coming from all GCB Bank branches in the greater Kumasi area. The study’s data collection instrument was a questionnaire. The systematic sampling technique was used to sample the views of the respondents who were 186. The study’s findings revealed that price and product, position and promotion, and price, packages and position strategies were the marketing strategies used by GCB Bank Limited in promoting its products and services. It was also concluded that increase in the number of products sales, growth in the amount of GCB Bank product sales, and high customer satisfaction staff level measure the sales performance of the bank. The study also concluded that the marketing strategies of the bank have a statistically significant positive effect on sales performance. Lastly, the study reveals that the gap between market planning and its execution as well as the bank’s structures challenge their marketing strategies implementation. Therefore, it is obvious that the marketing strategies employed by GCB Bank Limited positively impact on its sales performance. It is therefore recommended that the bank see the need to maintain these strategies and improve on it to attract more customers to say in business.