CONTRIBUTION OF MARKETING MIX TO THE PERFORMANCE OF FINANCIAL INSTITUTIONS IN RWANDA CASE STUDY: BK PLC/ MAIN BRANCH (2019-2022)

Abstract

When it comes to marketing mix, most people spontaneously think about the 4P (Product, Price, Place, and Promotion). Market segmentation and the identification of target markets, however, are important element of each marketing strategy. The objective of chapter is to presents the effectiveness of marketing mix applied by BANK OF KIGALI PLC where 37.5% of respondents agree that BANK OF KIGALI PLC used the radio advertisement in the marketing strategies. One of the most competitive media in your local market is radio. Sales people for radio stations are generally creative and do an excellent job of building enthusiasm for radio advertising. About marketing using television 31.3% of respondents said know BANK OF KIGALI PLC on Television advertisement. Other ways BANK OF KIGALI PLC used in marketing strategies is newspapers BANK OF KIGALI PLC use newspapers to put information about your company product and service in the various newspapers, 2.1% of respondents said know BANK OF KIGALI PLC because of bill board advertisements, attract more customers on the market BANK OF KIGALI PLC fixed the price favorable to the satisfaction of customers. The BANK OF KIGALI PLC, the technique of the price reduction is especially useful for sales promotion. Most of respondents represent 52.1% of respondents agree that marketing promotion of BANK OF KIGALI PLC is very good, 26% of respondents said excellent, 16.7% of respondents choose good and other represent 5.2% of respondents said that marketing promotion of BANK OF KIGALI PLC is fair. ROE ratio are the following: 16.8%, 14.3%, 18.1% and 18.7% respectively. It means that 100 FRW invested by shareholders generated the 16.8Frw from 2019, 100 FRW invested by shareholders generated 14.3FRW from 2020, and 100 FRW invested by shareholders generated 18.1FRW and18.7Frw in 2022 respectively. As seen in the table from 2019 up to 2022 return on equity keeps increasing due to the marketing mix. The respondents suggested rigorous consultations with customers prior to launching products, proper market research and product testing. Basing on the findings the hypothesis of the study have been verified and confirmed