Abstract:
The main objective of this study is to assess the effect of marketing strategies on financial performance in commercial banks in Rwanda, specifically in I & M Bank Plc. This study has the following specific objectives, to assess the effectiveness of marketing strategies used in I & M Bank Plc, to analyze the financial performance of I & M Bank Plc, and to evaluate the effect of marketing strategies on financial performance of I & M Bank Plc. This research is descriptive research design, and the study population comprise 150 employees that deal with the variables under study in I&M Bank, and the sample size of 109 respondents were sampled using purposive sampling technique. The researcher used a questionnaire to collect primary data in this study. Financial analysis were utilized to gauge the financial performance of I&M Bank, while multiple regression was used to test hypotheses. To compute and analyze the data in this study, available statistical product for service solution (SPSS 27) was used. Marketing strategies exhibits a very strong positive correlation with Financial performance (r = .989, p < .01). Regression analysis revealed that Marketing strategies contributes 98.6% on the financial performance in I&M BANK PLC. The F-calculated was 7681.087 and was greater than the F-critical and the p-value was 0.000, implying that Marketing strategies has significant effect on the financial performance in I&M BANK PLC. On the basis of findings, the study concluded that I&M Bank Plc uses moderately effective marketing strategies, that I&M Bank has performed well in terms of financial performance, and that there is a statistically significant effect of marketing strategies on the financial performance of I&M Bank Plc. The study recommended that I&M Bank Plc. significantly enhance its use of data analytics in digital marketing.
