PUBLIC RELATIONS STRATEGIES FOR ENHANCING THE IMAGE OF INSURANCE COMPANIES IN IMO STATE

PUBLIC RELATIONS STRATEGIES FOR ENHANCING THE IMAGE OF INSURANCE COMPANIES IN IMO STATE

ABSTRACT

In this age of fierce competition and turbulent business environment, organizations tend to adopt specific strategies to stay afloat in business as well as to have competitive edge over other firms in their respective industries.  To this end, most corporate organizations such as banks have embraced modern information technology based products to achieve their set goals and objectives in the ever changing business environment. Thus, banks in Nigeria (mostly the new generation banks) have adopted electronic method of banking, also known as online banking as a strategy for marketing their services and for sustaining their customers’ patronage. This research focuses on exploring how effective online banking has been as marketing tools for improved and more viable banking operations. The study was conducted using five selected new generation banks in Nigeria. The Enugu branches of the banks were used for the study. A sample of the customers and staff of these banks were used for the study. The research instrument (the questionnaire) and the other methods of investigation (Oral interview and observation) were used for collecting data. The analysis of data was subjected to simple percentage, the chi-square analysis and the Likert Summated Rating Scales. The outcome of the analysis and tests formed the basis of the opinion portrayed in this study. The researcher made use of both online and e-banking to mean the same thing in the course of the work. The researcher finds out the followings, there is a wide belief among the customers and the staff of the various banks that online banking has provided a modern way of rendering banking services to the public. Also, it was discovered that online banking has contributed greatly in facilitating banking services and has also led to drastic reduction in the waiting time of customers in the banks. The study also revealed that bank customers have now become more informed and educated; thus making it imperative for the banks to strategies and adopts online banking to provide alternative banking services to these crops of customers. The researcher made the following recommendations, that every bank in Nigeria that wants to remain competitive and survive in the industry should embrace online banking. That the banks should take into account the growing number of highly educated and informed customers; and thus, should develop an effective mode of technology – such as online technology – to provide better and faster banking services to meet the increasing needs of these modern customers. Also, that the old generation banks should borrow a leaf from the new generation banks by adopting online banking for better banking services and for improved performance. The researcher made this conclusion; it is believed that subsequent researches on the findings on the subject-matter which have become a sine qua non in the Nigerian banking industry will go a long way in providing a better banking system in the industry in the future. Finally, it is hoped that the study has been able to achieve its objectives; and that it will be found as a useful guide to future reference by future researchers.