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Abstract:
National Bank of Kenya has been using sales promotion to mobilize short-term deposits, but the effects of the tool have never been analyzed through a systematic approach. Based on Attention-Interest-Desire-Action (AIDA) model, the study used non-experimental design and employed descriptive survey of correlation in nature to establish relationship between sales promotion and deposits growth in the bank. The study targeted 259 employees of the bank in branches within Nairobi County, from which a sample size of 155 employees was selected. The indicators for deposits growth were new accounts, customer transactions, customer traffic and deposits volume, while the indicators for sales promotion were Dabolisha and Chomoka Na Mili campaigns. Primary data was collected using self administered questionnaires and was analyzed using Multiple Regression analysis model. The results revealed that the two campaigns were joint predictors of deposits growth {R = .863; R2 = .745; F (3, 119) = 116.037; Sig. = .000}. The correlation between sales promotion and deposits growth was high and positive (R = .863) and the study therefore concluded that sales promotion and deposits growth were positively related.
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